Tortoise Investment Management, LLC's Q3 vs. Q4 2022 13F Holdings Report Shows Significant Changes in Share Numbers and Value.
Ava Hoppe | 23 April, 2023
Tortoise Investment Management, LLC, a hedge fund based in New York, recently released its Q3 2022 vs. Q4 2022 13F holdings comparison report. The report shows the changes in the fund's holdings during the third and fourth quarters of 2022, with a focus on the issuers whose holdings have seen significant changes in share number and value.
The report reveals that the fund has reduced its holdings in iShares TR (IVV) and SPDR S&P 500 ETF TR (SPY) during the fourth quarter, with share numbers dropping from 156,251 and 32,356 to 154,188 and 31,662, respectively. Despite the reduction in share numbers, the value of the holdings in these two ETFs increased by 5.7% and 4.8%, respectively.
On the other hand, holdings in iShares TR (STIP), iShares Inc. (IEMG), and Invesco Exch Traded FD Tr II (BAB) have seen significant increases in share numbers and value during the same period. STIP saw the biggest increase, with share numbers jumping from 155,181 to 215,497 and the value of the holdings rising by 40.1%. Meanwhile, IEMG and BAB saw share numbers increase by 5.7% and 0.5% respectively, with their values increasing by 14.9% and 4.7% in the fourth quarter.
Other notable changes in holdings during the fourth quarter include a 10.8% increase in the number of shares held in iShares TR (MBB), a 24.3% increase in the number of shares held in iShares TR (SGOV), and a 17.5% decrease in the value of holdings in iShares TR (IEFA).
In addition, the fund added new holdings during the fourth quarter, such as American Centy ETF Tr (AVUS), Vanguard Tax-Managed Fds (VEA), and Nuveen Amt-free Mun Value FD (NUW), whose holdings increased by 72.6%, 21.8%, and 31.4% respectively in share numbers and 8.8%, 21.8%, and 31.4% respectively in value.
However, not all of the fund's holdings saw gains in the fourth quarter. Vanguard Scottsdale Fds (VGLT) saw a massive increase in share numbers from 0 in Q3 to 101,170 in Q4, but the value of the holdings only increased by 6234%. Meanwhile, holdings in Vanguard Scottsdale Fds (VCSH) saw share numbers decrease by 20.5% while the value of the holdings declined by 19.1%.
As for the top holdings of the fund during the fourth quarter, iShares TR (ITOT), Vanguard Index Fds (VTI), and Vanguard Intl Equity Index F (VWO) remained in the top three spots.
Overall, the report shows that Tortoise Investment Management, LLC has made some significant changes to its holdings during the fourth quarter of 2022. While some holdings saw strong gains in both share numbers and value, others saw reductions in share numbers or declines in value. As always, it's important to remember that past performance is not indicative of future results, and investors should always do their own research before making any investment decisions.
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