Laffer Tengler Investments' Q2 2023 13F: 22 new positions, 37 exits
Form 13F-HR for the quarter ended Jun 30, 2023 · filed Aug 14, 2023 · 385 reported positions · accession 0000909012-23-000091
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | COHERENT CORP 6 PERCENT CONV PFD A (IIVI) | 0.9% | 0.0% | −0.9 pts | −19,534 sh | −99% |
| New | NXP SEMICONDUCTORS NV (NXPI) | — | 1.2% | +1.2 pts | +21,401 sh | new |
| Exited | DANAHER CORPORATION 5 percent CONV PFD B (DHRPRB) | 1.0% | — | −1.0 pts | −2,994 sh | −100% |
| Exited | KKR REAL ESTATE FIN TR INC (KREF 6.125 05/15/23) | 0.9% | — | −0.9 pts | −3,236 sh | −100% |
| Reduced | BOSTON SCIENTIFIC CORP 5.50 PERCENT CONV PFD A (BSXPRA) | 0.9% | 0.0% | −0.9 pts | −28,068 sh | −99% |
| Reduced | PALO ALTO NETWORKS INC (PANW 0.75 07/01/23) | 0.7% | 0.0% | −0.7 pts | −1,200 sh | −98% |
| Reduced | BECTON DICKINSON & CO 6 PERCENT DP CONV PFD B (BDXB) | 0.9% | 0.0% | −0.9 pts | −65,825 sh | −99% |
| Reduced | PHILIP MORRIS INTL INC (PM) | 0.9% | 0.0% | −0.8 pts | −31,429 sh | −96% |
| New | NRG ENERGY INC (NRG 2.75 06/01/48) | — | 0.8% | +0.8 pts | +2,864 sh | new |
| Exited | DEUTSCHE BANK AG | 0.7% | — | −0.7 pts | −2,546 sh | −100% |
| Reduced | CVS HEALTH CORP (CVS) | 0.8% | 0.0% | −0.8 pts | −38,226 sh | −94% |
| Increased | CARRIER GLOBAL CORPORATION (CARR) | 0.0% | 0.7% | +0.6 pts | +49,011 sh | +7315% |
| Increased | STARBUCKS CORP (SBUX) | 0.0% | 0.6% | +0.6 pts | +23,582 sh | +589550% |
| New | MICROCHIP TECHNOLOGY INC (MCHP 0.125 11/15/24) | — | 0.6% | +0.6 pts | +1,891 sh | new |
| Increased | HALOZYME THERAPEUTICS INC (HALO 0.25 03/01/27) | 0.0% | 0.6% | +0.6 pts | +2,486 sh | +2486% |
| New | NICE LTD | — | 0.5% | +0.5 pts | +2,126 sh | new |
| New | BOFA FIN LLC (BAC 0.6 05/25/27 MTN) | — | 0.5% | +0.5 pts | +1,500 sh | new |
| New | ENPHASE ENERGY INC (ENPH 0 03/01/26) | — | 0.4% | +0.4 pts | +1,585 sh | new |
| Increased | PROSPECT CAP CORP (PSEC 6.375 03/01/25) | 0.3% | 0.7% | +0.4 pts | +1,395 sh | +124% |
| Reduced | CORNING INC (GLW) | 0.8% | 0.4% | −0.4 pts | −38,635 sh | −45% |
| New | PALO ALTO NETWORKS INC (PANW 0.375 06/01/25) | — | 0.4% | +0.4 pts | +525 sh | new |
| Reduced | UNITEDHEALTH GROUP INC COM (UNH) | 0.4% | 0.1% | −0.3 pts | −2,702 sh | −81% |
| Increased | TESLA INC (TSLA) | 0.1% | 0.5% | +0.4 pts | +4,891 sh | +206% |
| Reduced | APTIV PLC 5.5 PERCENT CONV PFD A (APTVPRA) | 0.4% | 0.0% | −0.4 pts | −11,732 sh | −99% |
| Increased | HONEYWELL INTL INC (HON) | 0.3% | 0.7% | +0.4 pts | +6,151 sh | +99% |
| Increased | ARES CAPITAL CORP (ARCC 4.625 03/01/24) | 0.7% | 1.1% | +0.3 pts | +1,211 sh | +44% |
| Increased | ISHARES TREASURY FLOATING RATE BOND ETF (TFLO) | 0.9% | 1.2% | +0.3 pts | +24,477 sh | +38% |
| New | STARWOOD PROPERTY TR INC (STWD 6.75 07/15/27) | — | 0.3% | +0.3 pts | +1,211 sh | new |
| Increased | SOUTHWEST AIRLINES CO (LUV) | 0.7% | 1.0% | +0.3 pts | +999 sh | +46% |
| Reduced | ORACLE CORP (ORCL) | 1.4% | 1.4% | +0.1 pts | −9,433 sh | −17% |
| Increased | SPLUNK INC (SPLK 1.125 09/15/25) | 0.4% | 0.7% | +0.3 pts | +1,104 sh | +73% |
| Reduced | INTERPUBLIC GROUP COS INC (IPG) | 1.0% | 0.7% | −0.3 pts | −28,605 sh | −28% |
| Increased | PNC FINANCIAL SERVICES GROUP INC (PNC) | 0.7% | 1.0% | +0.3 pts | +8,407 sh | +41% |
| New | VISA INC CL A (V) | — | 0.2% | +0.2 pts | +3,918 sh | new |
| Reduced | TEXAS INSTRUMENTS INC (TXN) | 1.9% | 1.5% | −0.3 pts | −5,099 sh | −14% |
| Increased | UGI CORP UNIT 06/01/24 (UGIC) | 0.5% | 0.6% | +0.1 pts | +13,661 sh | +61% |
| Reduced | APPLE INC (AAPL) | 1.6% | 1.6% | 0.0 pts | −4,632 sh | −13% |
| Reduced | CATERPILLAR INC (CAT) | 0.3% | 0.1% | −0.2 pts | −3,607 sh | −80% |
| Reduced | BROADCOM INC (AVGO) | 2.2% | 2.7% | +0.5 pts | −1,000 sh | −8% |
| Reduced | BANK NEW YORK MELLON CORP COM (BK) | 0.3% | 0.1% | −0.2 pts | −19,332 sh | −77% |
| Reduced | MICROSOFT CORP (MSFT) | 2.4% | 2.6% | +0.2 pts | −2,388 sh | −8% |
| Increased | CHEVRON CORP (CVX) | 1.5% | 1.6% | +0.1 pts | +5,007 sh | +15% |
| New | CLOROX CO (CLX) | — | 0.2% | +0.2 pts | +4,922 sh | new |
| Reduced | NVIDIA CORPORATION (NVDA) | 0.2% | 0.2% | −0.1 pts | −1,815 sh | −55% |
| Exited | BLOCK INC (XYZ) | 0.2% | — | −0.2 pts | −10,670 sh | −100% |
| Increased | ILLINOIS TOOL WORKS INC (ITW) | 0.8% | 1.0% | +0.2 pts | +2,968 sh | +23% |
| Reduced | TARGET CORP (TGT) | 1.2% | 0.8% | −0.5 pts | −5,506 sh | −20% |
| Reduced | NEXTERA ENERGY INC (NEE) | 0.2% | 0.0% | −0.2 pts | −9,571 sh | −81% |
| Increased | JOHNSON & JOHNSON (JNJ) | 1.6% | 1.8% | +0.3 pts | +4,213 sh | +11% |
| Reduced | ARISTA NETWORKS INC (ANET) | 0.3% | 0.1% | −0.2 pts | −4,143 sh | −67% |
The 50 largest of 332 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 19.1% of the equity book
Changes in the top 10 this quarter: CVX entered · TXN left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | BROADCOM INC (AVGO) | 2.2% | 2.7% | |
| 2 | MICROSOFT CORP (MSFT) | 2.4% | 2.6% | |
| 3 | LAM RESEARCH CORP (LRCX) | 1.6% | 1.9% | |
| 4 | JOHNSON & JOHNSON (JNJ) | 1.6% | 1.8% | |
| 5 | HOME DEPOT INC (HD) | 1.6% | 1.8% | |
| 6 | STEEL DYNAMICS INC (STLD) | 1.8% | 1.7% | |
| 7 | RAYTHEON TECHNOLOGIES CORP (RTX) | 1.6% | 1.7% | |
| 8 | ABBVIE INC (ABBV) | 1.9% | 1.7% | |
| 9 | APPLE INC (AAPL) | 1.6% | 1.6% | |
| 10 | CHEVRON CORP (CVX) | 1.5% | 1.6% | Entered the top 10 |
| — | TEXAS INSTRUMENTS INC (TXN) | 1.9% | 1.5% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).