Parsec Financial Management Inc Portfolio Analysis

Parsec Financial Management Inc just filed its Q4 2015 13F. Dated 03/02/2016, the SEC filing reveals the active investment manager has a portfolio value of $963.13 million, representing an increase of $44.78 million from the previous quarter when it was $918.35 million. Note: This filling reprents about 61.58% of Parsec Financial Management Inc’s assets, which which are listed in the US.

[vc_row][vc_column width=”1/1″][vc_row_inner][vc_column_inner width=”1/2″][vc_table vc_table_theme=”default” el_class=”pagecolor3″][bg#f9f9f9;b]Portfolio%20Q42015,[bg#f9f9f9]|[bg]Market%20Value%3A,[bg#05a215;c#ffffff]$963%2C129%2C000|[bg]Previous%20Mkt%20Value%3A,[bg#05a215;c#ffffff]$918%2C345%2C000|[bg]Chg%20Mkt%20Value%20%25%3A,[bg#05a215;c#ffffff]4.88%25 |Sentiment%3A,[bg#03a510;c#ffffff]|Turnover%20%25%3A,[bg#03a510;c#ffffff]0.19%25[/vc_table][/vc_column_inner][vc_column_inner width=”1/2″][vc_table vc_table_theme=”default” el_class=”pagecolor3″][bg#f9f9f9;b]Stocks%20Activity,[bg#f9f9f9]|[bg]New%20Purchases%3A,[bg#05a215;c#ffffff]6|[bg]Additional%20Purchases%3A,[bg#05a215;c#ffffff]96|Sold%20out%3A,[bg#03a510;c#ffffff]3|Reduced%3A,[bg#03a510;c#ffffff]62|Top%2010%20Holdings%20%25%3A,[bg#03a510;c#ffffff]24.93%25[/vc_table][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]

Based on $1.56 billion in assets under management, Parsec Financial Management Inc’s equity exposure represents 61.58% of assets.

Fund New Positions

During this quarter, Parsec Financial Management Inc started positions in Vanguard Telecom Services Etf (VOX) for $411,000, Accenture Plc Ireland (ACN) for $254,000, Comcast Class A (CMCSA) for $223,000, Financial Select Sector Spdr (XLF) for $204,000 and Conoco Phillips (COP) for $201,000. These were the 5 biggest new positions. In total the active investment manager bought 6 new stocks.

Portfolio New Buys

[vc_row][vc_column width=”1/1″][vc_row_inner][vc_column_inner width=”1/2″][vc_table vc_table_theme=”default” el_class=”pagecolor3″][bg#f9f9f9;b]Top%205%20New%20Buys,[bg#f9f9f9]|[bg]Vanguard Telecom Services Etf,[bg#05a215;c#ffffff]0.04%25|[bg]Accenture Plc Ireland,[bg#05a215;c#ffffff]0.03%25|[bg]Comcast Class A,[bg#05a215;c#ffffff]0.02%25|Financial Select Sector Spdr,[bg#03a510;c#ffffff]0.02%25|Conoco Phillips,[bg#03a510;c#ffffff]0.02%25[/vc_table][/vc_column_inner][vc_column_inner width=”1/2″][vc_table vc_table_theme=”default” el_class=”pagecolor3″][bg#f9f9f9;b]13F%20Sector%20Allocation,[bg#f9f9f9]|[bg]Finance,[bg#05a215;c#ffffff]28%25|[bg]Information Technology,[bg#05a215;c#ffffff]17%25|[bg]Health Care,[bg#03a510;c#ffffff]11%25|[bg]Consumer Staples,[bg#03a510;c#ffffff]10%25|[bg]Consumer Discretionary,[bg#03a510;c#ffffff]10%25[/vc_table][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]

Increased Positions

Based on this SEC filing the active investment manager increased its stakes in Exxon Mobil Corp Com (XOM) by 5% to $13.68 million, Sysco (SYY) by 6% to $13.32 million, Total S.A. Sponsored Adr (TOT) by 15% to $12.65 million, Equifax (EFX) by 10% to $12.60 million and Chevron (CVX) by 11% to $11.94 million. Parsec Financial Management Inc also acquired smaller stakes in Wisdomtree Small Cap Dividend (DES) by 6.75% to $10.06 million, Emerson Electric (EMR) by 13.36% to $10.55 million and Agrium (AGU) by 10.02% to $8.58 million. Building positions gradually is well-know practice for many hedge funds.

Sold Positions

This fund sold out its stakes in Royce Value Trust (RVT), The Williams Companies Inc (WMB) and Capstone Turbine (CPST). These securities constituted 0.03%, 0.03% and 0.00% of the portfolio, respectively. We can only speculate about the reasons for the selling but we believe it has to do with either value, momentum or a better place for Parsec Financial Management Inc’s capital.

Portfolio Sold All

Reduced Positions

The fund also decreased its postitons in Apple Computer (AAPL) by -0.75%, Cvs Health (CVS) by -1.32%, Microsoft Corp Com (MSFT) by -2.14%, Disney (Walt) (DIS) by -10.29% and General Electric (GE) by -0.54%.

Top Positions

Apple Computer (AAPL), Microsoft Corp Com (MSFT) and Cvs Health (CVS) made up the majority of Parsec Financial Management Inc’s total US long portfolio in this quarter. These securities were top 3 and constitute 8.95% of Parsec Financial Management Inc’s US-listed securities. The top 10 securities make approximately 24.93% of the fund’s value.

Portfolio Top Holdings

The image above provides an overview of Parsec Financial Management Inc’s top 10 US-listed equity positions in this quarter.

Sectors Share

Finance Sector Parsec Financial Management Inc - Parsec Financial Management Inc increased the finance sector from 27% to 28%. According to the SEC filing, the investment manager also has securities for 17% in the information technology sector. The consumer staples sector is 10% of Parsec Financial Management Inc’s 13f assets. The fund decreased the Health Care, Materials and Consumer Discretionary sector positions by 11%, 13% and 23%, respectively.

So these are Q4 2015 fund’s sector weights now: finance 28% for $269.68 million, information technology 17% for $163.73 million, health care 11% for $105.94 million, consumer staples 10% for $96.31 million, consumer discretionary 10% for $96.31 million, industrials 9% for $86.68 million, energy 6% for $57.79 million, utilities & telecommunications 4% for $38.53 million, materials 2% for $19.26 million and transports 1% for $9.63 million.

Important Position Changes

Top 10 Q4 2015 New Positions: Vanguard Telecom Services Etf (VOX), Accenture Plc Ireland (ACN), Comcast Class A (CMCSA), Financial Select Sector Spdr (XLF), Conoco Phillips (COP) and Ishares S&P Global Clean Energ (ICLN).

Top 10 Q4 2015 Sold Out Completely: Royce Value Trust (RVT), The Williams Companies Inc (WMB) and Capstone Turbine (CPST).


Download the full 13F form in CSV: default iconQ4-2015-Parsec-Financial-Management-Inc-13F-Portfolio-Stock-Holdings.csv

Research more North Carolina hedge funds in our free database. Read ‘What is a Hedge Fund’ at our Hedge Funds resource page.

Parsec Financial Management Inc – website

13F Filing Link: 000134913816000009

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