# Andesa Financial Management Inc.

> Institutional holdings reported to the SEC as of Q1 2023 on Form 13F. CIK 1752985. Source: https://holderbook.com/funds/1752985-andesa-financial-management-inc/

- Reported value: $194.9M
- Positions: 125
- Weight of the ten largest: 30.8%
- Filed: 2023-05-05

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $10.4M | 116,796 | 5.3% | 18 |
| AMPLIFY ETF TR | [DIVO](https://holderbook.com/stocks/DIVO/) | $8.0M | 409,816 | 4.1% | 11 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $6.9M | 54,693 | 3.5% | 18 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $6.5M | 62,416 | 3.4% | 18 |
| J P MORGAN EXCHANGE TRADED F | [JPSE](https://holderbook.com/stocks/JPSE/) | $5.4M | 134,900 | 2.8% | 12 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $4.9M | 62,415 | 2.5% | 18 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $4.8M | 20,158 | 2.5% | 16 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $4.5M | 27,057 | 2.3% | 18 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $4.4M | 11,440 | 2.2% | 18 |
| SPDR INDEX SHS FDS | [QEFA](https://holderbook.com/stocks/QEFA/) | $4.3M | 125,460 | 2.2% | 12 |
| STRATEGY SHS | [SSUS](https://holderbook.com/stocks/SSUS/) | $4.3M | 224,972 | 2.2% | 6 |
| FIRST TR EXCHANGE TRAD FD VI | [FTGC](https://holderbook.com/stocks/FTGC/) | $3.8M | 247,176 | 2.0% | 11 |
| GLOBAL X FDS | [ALTY](https://holderbook.com/stocks/ALTY/) | $3.7M | 464,680 | 1.9% | 2 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $3.6M | 19,685 | 1.8% | 18 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $3.4M | 29,570 | 1.8% | 18 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $3.4M | 47,022 | 1.8% | 18 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $3.3M | 103,826 | 1.7% | 7 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $3.2M | 100,099 | 1.6% | 18 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $3.1M | 17,101 | 1.6% | 18 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $3.1M | 26,474 | 1.6% | 18 |
| HARBOR ETF TRUST | [INNO](https://holderbook.com/stocks/INNO/) | $3.1M | 311,880 | 1.6% | 4 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $3.0M | 30,403 | 1.6% | 18 |
| JOHN HANCOCK EXCHANGE TRADED | [JHMM](https://holderbook.com/stocks/JHMM/) | $3.0M | 88,178 | 1.6% | 16 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $2.9M | 31,339 | 1.5% | 18 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $2.9M | 62,950 | 1.5% | 18 |
| DAVIS FUNDAMENTAL ETF TR | [DUSA](https://holderbook.com/stocks/DUSA/) | $2.8M | 152,620 | 1.4% | 2 |
| VANECK ETF TRUST | [HYD](https://holderbook.com/stocks/HYD/) | $2.7M | 105,486 | 1.4% | 3 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $2.7M | 85,226 | 1.4% | 10 |
| BEST BUY INC | [BBY](https://holderbook.com/stocks/BBY/) | $2.7M | 47,700 | 1.4% | 12 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $2.7M | 40,377 | 1.4% | 12 |
| SPDR SERIES TRUST | [QUS](https://holderbook.com/stocks/QUS/) | $2.6M | 44,330 | 1.3% | 13 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $2.5M | 40,652 | 1.3% | 7 |
| MICROCHIP TECHNOLOGY INC. | [MCHP](https://holderbook.com/stocks/MCHP/) | $2.4M | 57,625 | 1.2% | 18 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $2.4M | 92,460 | 1.2% | 17 |
| DARDEN RESTAURANTS INC | [DRI](https://holderbook.com/stocks/DRI/) | $2.2M | 26,506 | 1.1% | 7 |
| GALLAGHER ARTHUR J & CO | [AJG](https://holderbook.com/stocks/AJG/) | $2.2M | 21,507 | 1.1% | 18 |
| VANGUARD WELLINGTON FD | [VFVA](https://holderbook.com/stocks/VFVA/) | $2.2M | 44,574 | 1.1% | 10 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $2.1M | 11,154 | 1.1% | 18 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $2.1M | 16,350 | 1.1% | 18 |
| ISHARES TR | [SHYG](https://holderbook.com/stocks/SHYG/) | $2.1M | 80,042 | 1.1% | 3 |
| VANECK ETF TRUST | [MOAT](https://holderbook.com/stocks/MOAT/) | $2.0M | 55,166 | 1.0% | 7 |
| ETFIS SER TR I | [NFLT](https://holderbook.com/stocks/NFLT/) | $1.9M | 171,204 | 1.0% | 6 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $1.8M | 98,675 | 0.9% | 18 |
| DOUBLELINE ETF TRUST | [DBND](https://holderbook.com/stocks/DBND/) | $1.8M | 63,382 | 0.9% | 2 |
| PACER FDS TR | [GCOW](https://holderbook.com/stocks/GCOW/) | $1.6M | 97,300 | 0.8% | 5 |
| ALPS ETF TR | [OUSA](https://holderbook.com/stocks/OUSA/) | $1.5M | 60,930 | 0.8% | 4 |
| VANGUARD WELLINGTON FD | [VFMO](https://holderbook.com/stocks/VFMO/) | $1.4M | 25,476 | 0.7% | 3 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $1.4M | 41,418 | 0.7% | 18 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $1.4M | 30,804 | 0.7% | 18 |
| COLUMBIA ETF TR I | [MUST](https://holderbook.com/stocks/MUST/) | $1.2M | 86,860 | 0.6% | 3 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $1.1M | 34,920 | 0.6% | 18 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $1.0M | 13,701 | 0.5% | 18 |
| DAVIS FUNDAMENTAL ETF TR | [DFNL](https://holderbook.com/stocks/DFNL/) | $975.5K | 70,066 | 0.5% | 12 |
| FIRST TR EXCH TRADED FD III | [FPE](https://holderbook.com/stocks/FPE/) | $962.4K | 74,792 | 0.5% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $925.4K | 13,543 | 0.5% | 18 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $918.8K | 5,926 | 0.5% | 12 |
| PIMCO ETF TR | [LDUR](https://holderbook.com/stocks/LDUR/) | $883.1K | 18,614 | 0.5% | 3 |
| EASTMAN CHEM CO | [EMN](https://holderbook.com/stocks/EMN/) | $878.9K | 3,564 | 0.5% | 1 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $830.6K | 67,453 | 0.4% | 2 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $798.0K | 11,170 | 0.4% | 18 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $748.8K | 12,592 | 0.4% | 9 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $742.7K | 16,678 | 0.4% | 12 |
| FIRST TR EXCHANGE-TRADED FD | [EMLP](https://holderbook.com/stocks/EMLP/) | $682.7K | 48,704 | 0.4% | 11 |
| FIRST TR EXCHANGE TRADED FD | [FXN](https://holderbook.com/stocks/FXN/) | $681.8K | 75,638 | 0.3% | 5 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $662.6K | 16,000 | 0.3% | 13 |
| VANGUARD WELLINGTON FD | [VFQY](https://holderbook.com/stocks/VFQY/) | $650.0K | 12,000 | 0.3% | 3 |
| ALLSTATE CORP | [ALL](https://holderbook.com/stocks/ALL/) | $635.8K | 4,942 | 0.3% | 5 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $568.5K | 822 | 0.3% | 17 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $560.3K | 2,493 | 0.3% | 18 |
| SPDR SERIES TRUST | [SPYD](https://holderbook.com/stocks/SPYD/) | $535.8K | 28,200 | 0.3% | 13 |
| ESSA BANCORP INC | [ESSA](https://holderbook.com/stocks/ESSA/) | $511.7K | 60,000 | 0.3% | 18 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $503.2K | 7,610 | 0.3% | 18 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $484.8K | 6,123 | 0.2% | 2 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $477.4K | 3,210 | 0.2% | 18 |
| BLACKROCK INC | [BLKXXXX](https://holderbook.com/stocks/BLKXXXX/) | $461.5K | 702 | 0.2% | 3 |
| HALLIBURTON CO | [HAL](https://holderbook.com/stocks/HAL/) | $453.8K | 15,375 | 0.2% | 5 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $428.4K | 3,683 | 0.2% | 10 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $401.0K | 2,408 | 0.2% | 17 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $394.6K | 6,962 | 0.2% | 13 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $389.5K | 1,764 | 0.2% | 1 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $380.7K | 4,574 | 0.2% | 9 |
| EVERSOURCE ENERGY | [ES](https://holderbook.com/stocks/ES/) | $377.4K | 464 | 0.2% | 1 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $375.6K | 3,709 | 0.2% | 4 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $368.5K | 9,024 | 0.2% | 7 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $362.3K | 5,448 | 0.2% | 9 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $362.2K | 5,003 | 0.2% | 18 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $359.4K | 2,164 | 0.2% | 11 |
| EQT CORP | [EQT](https://holderbook.com/stocks/EQT/) | $355.7K | 543 | 0.2% | 1 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $342.7K | 2,134 | 0.2% | 5 |
| J P MORGAN EXCHANGE TRADED F | [JPST](https://holderbook.com/stocks/JPST/) | $339.0K | 12,340 | 0.2% | 2 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $333.9K | 3,827 | 0.2% | 12 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $330.2K | 3,660 | 0.2% | 12 |
| FIDELITY D & D BANCORP INC | [FDBC](https://holderbook.com/stocks/FDBC/) | $328.8K | 13,926 | 0.2% | 18 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $319.9K | 8,414 | 0.2% | 6 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $317.0K | 3,811 | 0.2% | 18 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $314.7K | 293 | 0.2% | 1 |
| LAUDER ESTEE COS INC | [EL](https://holderbook.com/stocks/EL/) | $312.5K | 2,278 | 0.2% | 6 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $310.8K | 2,545 | 0.2% | 9 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $305.1K | 5,257 | 0.2% | 18 |
| TAPESTRY INC | [TPR](https://holderbook.com/stocks/TPR/) | $304.3K | 14,720 | 0.2% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2023 | +3.6% | +7.0% | -3.4% | 99% |
| Q4 2022 | +9.8% | +7.1% | +2.7% | 100% |
| Q3 2022 | -4.8% | -5.3% | +0.5% | 100% |
| Q2 2022 | -13.9% | -16.5% | +2.5% | 100% |
| Q1 2022 | -4.8% | -4.9% | +0.1% | 100% |
| Q4 2021 | +8.8% | +10.7% | -1.9% | 100% |
| Q3 2021 | -1.0% | +0.3% | -1.3% | 100% |
| Q2 2021 | +5.2% | +8.0% | -2.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2023 | $194.9M | 125 |
| Q4 2022 | $183.4M | 140 |
| Q3 2022 | $285.9M | 151 |
| Q2 2022 | $158.3M | 133 |
| Q1 2022 | $185.4M | 147 |
| Q4 2021 | $203.5M | 146 |
| Q3 2021 | $184.0M | 139 |
| Q2 2021 | $331.6M | 150 |
| Q1 2021 | $306.8M | 143 |
| Q4 2020 | $152.6M | 117 |
| Q3 2020 | $242.1M | 130 |
| Q2 2020 | $112.4M | 114 |