The McCutchen Group LLC Q2 vs. Q3 2022: Analyzing Changes in Holdings

Investors keen on tracking institutions' investment activities often check the SEC Form 13F filings. These documents detail the buys, sells or holding changes of institutional investors. The McCutchen Group LLC, an SEC-registered investment advisor based in Bethesda, Maryland, recently filed its Q2 and Q3 2022 13F reports detailing their changes in holdings. In this article, we will examine the report's highlights to give investors an idea of the firm's investment moves within the period.

McCutchen Group LLC's Investment Portfolio Overview

At the end of Q2 2022, the McCutchen Group LLC held $1.01 billion in managed 13F securities. That figure increased to $1.08 billion at the end of Q3, indicating a 7% gain.

Vanguard is McCutchen Group's go-to investment provider, as evidenced by its numerous holdings with the company. From Q2 to Q3 2022, the firm increased its stakes in VEU, with a 10% increase, and VWO, with an 8% upswing. VTI had a minor increase in comparison, with a 0.3% hike. IYR and BSV both saw declines. The company's selling off of 4.6% of VTI and its derivative holdings is worth noting as it's their largest single position in their portfolio.

The health care sector experienced the most change, with a total of 10 new positions and 16 stocks sold from Q2 to Q3. Energy and technology sectors were also affected by important changes, with significant changes reported in the holdings of the likes of Cenovus Energy, SAP SE, and Seritage Growth Properties.

The Biggest Movers in McCutchen's Portfolio

VEA: Vanguard Tax-Managed FDS

VEA saw an increase of 10.6% in the McCutchen Group LLC's holdings. By the end of Q3 2022, they owned shares worth $60 million, up from $67 million in Q2 2022. VEA's performance is attributed to several factors, including its brand's strength, diversification across regions, and low expense ratios.

VNQ: Vanguard Index FDS

VNQ had a $1.2 billion market value at the end of Q3 2022, the largest in McCutchen's portfolio. However, as detailed in the report, VNQ experienced a 2.1% decrease in holdings percentage-wise from Q2 to Q3.

USRT: iShares TR

McCutchen held USRT shares worth $41 million in Q2 2022. However, by the end of Q3 2022, it had lowered its shares to $35 million, leading to a 13.9% decrease in stock holdings.

GLD: SPDR Gold TR

GLD was among the worst-hit by changes in McCutchen's portfolio, with a decrease of $176 million between Q2 and Q3, translating to an 18.1% decline.

Conclusion

McCutchen Group LLC has had some important changes within its portfolio in the quarter under review. The reported changes should help investors better understand the firm's investment strategy and position in the market. Although there have been notable dips and spikes in some of its holdings, its investment moves have, on balance, showcased a firm with a disciplined approach to its investment strategy.