GK: 3rd Quarter 2022 Portfolio Review
The third quarter started off on the right foot with markets making a sustained rally on the hope the Federal Reserve and Fed Chairman Powell were getting close to finishing their rate hiking cycle. Markets rallied nicely and GK recovered a lot of value in a short time. That all ended towards the end of August when the Fed’s Powell abruptly changed his tone and slammed the markets down with threats of even higher rates. As a result, markets resumed their bear move and hit new lows by the end of September. We continue to add to our “climate change” theme portfolio positions as we believe the opportunity continues to grow. We also added to our positions in the portfolio’s defense (Northrup) and financial (LPL Financial) themes. We continue to position the portfolio for the eventual end of the rate hiking cycle and expect a possible large rebound in share value when the Fed is done. Overall, we had a better quarter compared to the S&P 500 Index as we had a nice rally in our solar stocks in the quarter. We lowered our exposure to housing and health care as we anticipate slower growth in these areas moving forward relative to our other positions.
|Ticker||Security Description||Portfolio Weight %|
|MGM||MGM RESORTS INTERNATIONAL||5.20%|
|GOOG||ALPHABET INC-CL C||3.33%|
|DE||DEERE & CO||2.91%|
|NOC||NORTHROP GRUMMAN CORP||2.89%|
As of 09.30.2022. Subject to change. Cash is not included.
Ross Gerber | Gerber Kawasaki | President and CEO
AdvisorShares Gerber Kawasaki ETF (GK) Portfolio Manager
Past Manager Commentary