Hotaling Investment Management, LLC

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CIK 1761645

13F portfolio (2022-Q4)

$221M

Positions

121

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2022-Q3. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2022-Q4)

Holdings

121

Top 5

23.3%

Top 10

35.2%

Effective N

45.5

HHI

0.022

This quarter

19 new · 0 exit →

By sector

Information Technology21.8%

Financials16.7%

Health Care13.0%

Industrials11.7%

Consumer Discretionary8.1%

Real Estate5.9%

Utilities4.8%

Communication Services4.5%

Other13.5%

By market cap

Large ($10–200B)52.7%

Mega (>$200B)39.7%

Unknown5.1%

Mid ($2–10B)2.5%

By region

North America95.1%

Other4.4%

Europe0.5%

By industry group GICS — finer than sector

Industry group	Weight	Names
Pharmaceuticals & Biotechnology	12.20%	13
Technology Hardware & Equipment	10.82%	4
Insurance	6.27%	5
Software	6.18%	2
Equity Real Estate Investment Trusts (REITs)	5.25%	8
Machinery	5.02%	6
Utilities	4.78%	6
Unclassified	4.52%	14
Banks	4.47%	5
Specialty Retail	4.40%	3
Software & IT Services	4.29%	3
Capital Markets	4.11%	3
Commercial Services & Supplies	3.72%	3
Chemicals	3.42%	6
Hotels, Restaurants & Leisure	3.10%	4
Semiconductors & Semiconductor Equipment	3.08%	6
Beverages	2.99%	2
Aerospace & Defense	1.83%	2
Road & Rail	1.54%	3
Oil, Gas & Consumable Fuels	1.09%	3
Food Products	0.89%	3
Construction & Engineering	0.75%	2
Life Sciences Tools & Services	0.72%	1
Electrical Equipment & Components	0.69%	1
Media & Entertainment	0.67%	2
Real Estate Management & Development	0.62%	1
Paper & Forest Products	0.57%	1
Transportation Infrastructure	0.54%	1
Automobiles & Components	0.43%	1
Diversified Telecommunication Services	0.30%	2
Communications Equipment	0.29%	1
Metals & Mining	0.12%	1
Distributors	0.11%	1
Health Care Providers & Services	0.10%	1
Household Durables	0.10%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	AAPL	Apple Inc.	Information Technology	7.44%
2	MSFT	MICROSOFT CORP	Information Technology	6.06%
3	GOOGL	Alphabet Inc.	Communication Services	3.50%
4	JNJ	JOHNSON & JOHNSON	Health Care	3.47%
5	UNH	UNITEDHEALTH GROUP INC	Financials	2.86%
6	AMZN	AMAZON COM INC	Consumer Discretionary	2.65%
7	NEE	NEXTERA ENERGY INC	Utilities	2.48%
8	BLK	BlackRock, Inc.	Financials	2.34%
9	PEP	PEPSICO INC	Consumer Staples	2.22%
10	DE	DEERE & CO	Industrials	2.14%

108/121 names classified · sector 95.6% of weight · industry 95.5% · mkt cap 94.9%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 17 quarters

Information TechnologyAAPL, MSFT, TT, ADBE, NXPI · other

FinancialsV, UNH, BLK, MRSH, MET · other

Health CareJNJ, MDT, PFE, SYK, AMGN · other

IndustrialsACN, CMI, HON, IR, DE · other

Consumer DiscretionaryAMZN, MAR, DG, TSLA, ORLY · other

Real EstateAMT, PLD, FR, DLR, CPT · other

Communication ServicesGOOGL, META, CMCSA, NFLX, DIS · other

MaterialsNKE, EL, EMN, PPG, FBIN · other

UtilitiesNEE, AEP, XEL, SRE, DTE · other

Consumer StaplesPEP, KO, MDLZ, MKC, SJM

EnergyXOM, BP, COP, EOG, FANG · other

UnclassifiedJPST, JCPB, ACTIVISION BLIZZARD INC, CWB, DISCOVER FINL SVCS · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 95.6% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2022-Q4), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (101 classified)Hotaling Investment Management, LLC centroid (Large Core)

Information TechnologyFinancialsHealth CareIndustrialsConsumer DiscretionaryReal EstateUtilitiesCommunication ServicesMaterialsConsumer StaplesEnergy

Style box summary for Hotaling Investment Management, LLC: centroid Large Core. Heaviest cells: Large Growth 31.6%, Large Core 22.5%, Large Value 18.4%.

Classified: 94.0% of book weight (101/119 names) · unclassified 6.0%: JCPB, , HOLX, ARE, LNWO, IVW, BP, JPST, GSK, SPY +8 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 121 positions (2022-Q4) · largest first · Δ vs 2022-Q3

#	Security	Shares	Value	Weight	Δ QoQ
1	AAPLAPPLE INC	126,570	$16M	7.4%	TRIM −8%
2	MSFTMICROSOFT CORP	55,916	$13M	6.1%	HOLD
3	GOOGLALPHABET INC	87,752	$8M	3.5%	ADD 12%
4	JNJJOHNSON & JOHNSON	43,491	$8M	3.5%	HOLD
5	UNHUNITEDHEALTH GROUP INC	11,915	$6M	2.9%	HOLD
6	AMZNAMAZON COM INC	69,738	$6M	2.6%	HOLD
7	NEENEXTERA ENERGY INC	65,710	$5M	2.5%	HOLD
8	BLKBLACKROCK INC	7,306	$5M	2.3%	HOLD
9	PEPPEPSICO INC	27,184	$5M	2.2%	HOLD
10	DEDEERE & CO	11,042	$5M	2.1%	HOLD
11	METMETLIFE INC	63,585	$5M	2.1%	HOLD
12	CMICUMMINS INC	18,868	$5M	2.1%	HOLD
13	MARMARRIOTT INTL INC NEW	25,910	$4M	1.7%	HOLD
14	VVISA INC	18,456	$4M	1.7%	HOLD
15	ABBVABBVIE INC	23,601	$4M	1.7%	HOLD
16	HONHONEYWELL INTL INC	17,772	$4M	1.7%	HOLD
17	TTTRANE TECHNOLOGIES PLC	22,536	$4M	1.7%	HOLD
18	PFEPFIZER INC	71,697	$4M	1.7%	HOLD
19	PNCPNC FINL SVCS GROUP INC	22,298	$4M	1.6%	HOLD
20	ACNACCENTURE PLC IRELAND	13,081	$3M	1.6%	HOLD
21	BMYBRISTOL-MYERS SQUIBB CO	45,763	$3M	1.5%	ADD 136%
22	AMTAMERICAN TOWER CORP	14,648	$3M	1.4%	HOLD
23	NKENIKE INC	25,138	$3M	1.3%	HOLD
24	DHRDANAHER CORP DEL	10,457	$3M	1.3%	HOLD
25	JPMJPMORGAN CHASE & CO	19,887	$3M	1.2%	ADD 168%
26	MRKMERCK & CO INC	23,792	$3M	1.2%	HOLD
27	MCHPMICROCHIP TECHNOLOGY INC.	36,228	$3M	1.2%	NEW
28	ALLALLSTATE CORP	18,152	$2M	1.1%	TRIM −3%
29	ELLAUDER ESTEE COS INC	9,634	$2M	1.1%	HOLD
30	CMGCHIPOTLE MEXICAN GRILL INC	1,674	$2M	1.1%	HOLD
31	AXPAMERICAN EXPRESS CO	15,538	$2M	1.0%	HOLD
32	RJFRAYMOND JAMES FINL INC	20,256	$2M	1.0%	TRIM −25%
33	HDHOME DEPOT INC	6,802	$2M	1.0%	TRIM −27%
34	JCPBJ P MORGAN EXCHANGE TRADED F	42,458	$2M	0.9%	TRIM −29%
35	ONON SEMICONDUCTOR CORP	30,395	$2M	0.9%	HOLD
36	VRTXVERTEX PHARMACEUTICALS INC	6,195	$2M	0.8%	HOLD
37	HOLXHOLOGIC INC	23,408	$2M	0.8%	HOLD
38	NDAQNASDAQ INC	28,395	$2M	0.8%	HOLD
39	PLDPROLOGIS INC.	15,209	$2M	0.8%	HOLD
40	COSTCOSTCO WHSL CORP NEW	3,755	$2M	0.8%	HOLD
41	FRFIRST INDL RLTY TR INC	35,357	$2M	0.8%	HOLD
42	KOCOCA COLA CO	26,789	$2M	0.8%	HOLD
43	DTEDTE ENERGY CO	14,049	$2M	0.7%	ADD 33%
44	AAGILENT TECHNOLOGIES INC	10,644	$2M	0.7%	NEW
45	AVGOBROADCOM INC	2,825	$2M	0.7%	ADD 196%
46	MDLZMONDELEZ INTL INC	23,595	$2M	0.7%	HOLD
47	UNPUNION PAC CORP	7,587	$2M	0.7%	HOLD
48	EMREMERSON ELEC CO	15,993	$2M	0.7%	HOLD
49	AEPAMERICAN ELEC PWR CO INC	15,937	$2M	0.7%	HOLD
50	KNXKNIGHT-SWIFT TRANSN HLDGS IN	28,797	$2M	0.7%	HOLD
51	LABORATORY CORP AMER HLDGS	6,317	$1M	0.7%	HOLD
52	PWRQUANTA SVCS INC	10,270	$1M	0.7%	HOLD
53	CPTCAMDEN PPTY TR	12,942	$1M	0.7%	HOLD
54	XELXCEL ENERGY INC	19,685	$1M	0.6%	HOLD
55	INVHINVITATION HOMES INC	46,341	$1M	0.6%	HOLD
56	WELLWELLTOWER INC	19,914	$1M	0.6%	HOLD
57	AREALEXANDRIA REAL ESTATE EQ IN	8,860	$1M	0.6%	HOLD
58	XOMEXXON MOBIL CORP	11,609	$1M	0.6%	HOLD
59	KMBKIMBERLY-CLARK CORP	9,303	$1M	0.6%	HOLD
60	NFLXNETFLIX INC	4,182	$1M	0.6%	TRIM −42%
61	LLYELI LILLY & CO	3,309	$1M	0.5%	HOLD
62	BKNGBOOKING HOLDINGS INC	595	$1M	0.5%	HOLD
63	HBANHUNTINGTON BANCSHARES INC	83,510	$1M	0.5%	HOLD
64	EMNEASTMAN CHEM CO	14,191	$1M	0.5%	HOLD
65	LNWOLIGHT & WONDER INC	19,663	$1M	0.5%	HOLD
66	REGNREGENERON PHARMACEUTICALS	1,539	$1M	0.5%	NEW
67	VRSKVERISK ANALYTICS INC	6,098	$1M	0.5%	HOLD
68	IVWISHARES TR	16,328	$955,000	0.4%	HOLD
69	TSLATESLA INC	7,745	$954,000	0.4%	TRIM −14%
70	IBMINTERNATIONAL BUSINESS MACHS	6,498	$916,000	0.4%	TRIM −2%
71	MSCIMSCI INC	1,915	$891,000	0.4%	NEW
72	DLRDIGITAL RLTY TR INC	8,480	$850,000	0.4%	TRIM −30%
73	BPBP PLC	23,062	$806,000	0.4%	HOLD
74	ETNEATON CORP PLC	4,361	$684,000	0.3%	HOLD
75	ADPAUTOMATIC DATA PROCESSING IN	2,771	$662,000	0.3%	HOLD
76	MSIMOTOROLA SOLUTIONS INC	2,489	$641,000	0.3%	HOLD
77	ABTABBOTT LABS	5,538	$608,000	0.3%	HOLD
78	CATCATERPILLAR INC	2,342	$561,000	0.3%	HOLD
79	PPGPPG INDS INC	4,400	$553,000	0.3%	HOLD
80	JPSTJ P MORGAN EXCHANGE TRADED F	10,251	$514,000	0.2%	TRIM −9%
81	GSKGSK PLC	13,998	$492,000	0.2%	NEW
82	SBUXSTARBUCKS CORP	4,667	$463,000	0.2%	HOLD
83	SPYSTATE STR SPDR S&P 500 ETF T	1,048	$401,000	0.2%	NEW
84	VZVERIZON COMMUNICATIONS INC	9,841	$388,000	0.2%	TRIM −15%
85	PGPROCTER AND GAMBLE CO	2,509	$380,000	0.2%	HOLD
86	DTDWISDOMTREE TR	5,880	$357,000	0.2%	HOLD
87	BRK.BBERKSHIRE HATHAWAY INC DEL	1,109	$343,000	0.2%	HOLD
88	CVXCHEVRON CORP NEW	1,868	$335,000	0.2%	HOLD
89	DUKDUKE ENERGY CORP NEW	3,244	$334,000	0.2%	HOLD
90	NSCNORFOLK SOUTHN CORP	1,281	$316,000	0.1%	HOLD
91	INTCINTEL CORP	10,731	$284,000	0.1%	HOLD
92	SEDGSOLAREDGE TECHNOLOGIES INC	1,001	$284,000	0.1%	HOLD
93	TAT&T INC	15,293	$282,000	0.1%	HOLD
94	IRINGERSOLL RAND INC	5,302	$277,000	0.1%	HOLD
95	XYLXYLEM INC	2,509	$277,000	0.1%	HOLD
96	BROBROWN & BROWN INC	4,751	$271,000	0.1%	HOLD
97	GLWCORNING INC	8,000	$256,000	0.1%	HOLD
98	CDNSCADENCE DESIGN SYSTEM INC	1,573	$253,000	0.1%	HOLD
99	WCCWESCO INTL INC	2,021	$253,000	0.1%	HOLD
100	CMCSACOMCAST CORP NEW	7,144	$250,000	0.1%	HOLD
101	HALOHALOZYME THERAPEUTICS INC	4,398	$250,000	0.1%	NEW
102	RTXRTX CORPORATION	2,437	$246,000	0.1%	HOLD
103	IVVISHARES TR	635	$244,000	0.1%	HOLD
104	USRTISHARES TR	4,800	$237,000	0.1%	NEW
105	TXNTEXAS INSTRS INC	1,369	$226,000	0.1%	HOLD
106	EHCENCOMPASS HEALTH CORP	3,765	$225,000	0.1%	NEW
107	UCBUNITED CMNTY BKS BLAIRSVLE G	6,586	$223,000	0.1%	HOLD
108	DGROISHARES CORE DIVIDEND GROWTH ETF	4,325	$216,000	0.1%	TRIM −37%
109	SGISOMNIGROUP INTERNATIONAL INC	6,294	$216,000	0.1%	NEW
110	TXRHTEXAS ROADHOUSE INC	2,353	$214,000	0.1%	HOLD
111	UTHRUnited Therapeutics Corp.	766	$213,000	0.1%	NEW
112	SIGISELECTIVE INS GROUP INC	2,381	$211,000	0.1%	NEW
113	NVSNOVARTIS AG	2,315	$210,000	0.1%	NEW
114	PORPORTLAND GEN ELEC CO	4,245	$208,000	0.1%	NEW
115	JUNIPER NETWORKS INC COM	6,449	$206,000	0.1%	NEW
116	MKCMCCORMICK & CO INC	2,490	$206,000	0.1%	NEW
117	MYRGMYR GROUP INC DEL	2,227	$205,000	0.1%	NEW
118	SBACSBA COMMUNICATIONS CORP NEW	725	$203,000	0.1%	HOLD
119	SJMSMUCKER J M CO	1,264	$200,000	0.1%	NEW
120	LAKELAND BANCORP INC	10,354	$182,000	0.1%	HOLD
121	HLNHALEON PLC	17,500	$140,000	0.1%	NEW

☆Hotaling Investment Management, LLC