13F-HR: SouthState Corp's Q4 2024 13F Filing: Portfolio Holdings and Investment Strategy Revealed

SouthState Corp's latest 13F filing reveals its portfolio holdings as of December 31, 2024, showcasing a diverse investment strategy across various sectors and asset classes.

Summary

• SouthState Corp filed its Form 13F holdings report for the quarter ended December 31, 2024.
• The report includes holdings of SouthState Corp and two other included managers: SouthState Bank, National Association and South State Advisory, Inc.
• The total value of the reported holdings is $1,525,800,272.
• The filing lists 973 entries detailing the company's positions in various stocks, ETFs, and other securities.
• The largest holdings include significant positions in companies like Microsoft, Apple, Amazon, and Berkshire Hathaway.
• The investment strategy appears diversified across sectors, including technology, finance, consumer goods, and healthcare.
• The filing also includes holdings in various ETFs, indicating a strategy of both direct stock investments and broader market exposure.
• The report details the number of shares held, the value of each holding, and the voting authority for each position.

Sentiment

Score: 6

Explanation: The document is a factual report of holdings, so the sentiment is neutral. A score of 6 reflects the stability and diversification of the portfolio, but also acknowledges the inherent risks associated with market investments.

Positives

• The portfolio is highly diversified across numerous sectors and asset classes, reducing concentration risk.
• Significant holdings in large-cap, well-established companies like Microsoft, Apple, and Berkshire Hathaway provide stability.
• The inclusion of ETFs allows for broad market exposure and diversification at a lower cost.
• The presence of both 'DFND' and 'OTR' investment discretion suggests a flexible and active management approach.
• The portfolio includes investments in various international equities and ETFs, providing geographic diversification.

Negatives

• The filing does not provide insight into the rationale behind specific investment decisions or portfolio changes.
• The report is backward-looking and does not offer forward-looking guidance or performance expectations.
• The filing does not disclose transaction costs or management fees associated with the portfolio.
• The report does not provide information on the portfolio's performance relative to benchmarks.

Risks

• Market volatility could impact the value of the holdings, particularly in growth-oriented stocks.
• Sector-specific risks could affect the performance of concentrated positions in certain industries.
• Changes in interest rates could impact the value of fixed-income ETF holdings.
• Geopolitical events and economic conditions could affect the performance of international investments.
• Regulatory changes could impact the financial services industry and the value of related holdings.

Industry Context

13F filings provide transparency into the holdings of large institutional investors, allowing the public to understand investment trends and strategies. SouthState Corp's filing reflects a diversified approach, similar to many other financial institutions, with a focus on large-cap stocks and ETFs. The inclusion of various sector-specific ETFs indicates a strategy of targeting specific industries for growth or income.

Comparison to Industry Standards

• Comparing SouthState Corp's portfolio to other regional banks like Truist Financial or Regions Financial, one can assess differences in asset allocation and investment preferences.
• Analyzing the ETF holdings against benchmarks like the S&P 500 or MSCI EAFE can reveal whether SouthState is overweight or underweight in certain market segments.
• Comparing the portfolio's sector allocation to industry averages can highlight areas where SouthState is taking a more or less aggressive stance.
• For example, if SouthState holds a larger percentage of technology stocks compared to other regional banks, it may indicate a higher risk tolerance or a belief in the sector's growth potential.
• Similarly, comparing the fixed-income ETF holdings to benchmarks like the Bloomberg Barclays Aggregate Bond Index can provide insights into SouthState's interest rate risk exposure.

Stakeholder Impact

• Shareholders: The filing provides transparency into the company's investment strategy and asset allocation.
• Employees: The company's financial health and investment performance can impact employee morale and job security.
• Customers: The company's financial stability can affect its ability to provide services and support to customers.
• Suppliers: The company's financial performance can impact its ability to pay suppliers on time.
• Creditors: The filing provides information about the company's assets and liabilities, which can affect its creditworthiness.

Key Dates