# APPLIED RESEARCH INVESTMENTS, LLC

> Institutional holdings reported to the SEC as of Q3 2022 on Form 13F. CIK 1821051. Source: https://holderbook.com/funds/1821051-applied-research-investments-llc/

- Reported value: $5.0M
- Positions: 12
- Weight of the ten largest: 91.4%
- Filed: 2022-11-14

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 |
|---|---|---|---|---|---|
| CHECK POINT SOFTWARE TECH LT | [CHKP](https://holderbook.com/stocks/CHKP/) | $1.0M | 9,344 | 21.1% | 2 |
| SONY GROUP CORP | [SONY](https://holderbook.com/stocks/SONY/) | $848.0K | 13,233 | 17.1% | 3 |
| CYBERARK SOFTWARE LTD | [CYBR](https://holderbook.com/stocks/CYBR/) | $771.0K | 5,145 | 15.6% | 1 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $340.0K | 2,517 | 6.9% | 1 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $284.0K | 1,220 | 5.7% | 10 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $280.0K | 554 | 5.7% | 2 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $275.0K | 2,873 | 5.5% | 6 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $250.0K | 1,531 | 5.0% | 2 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $223.0K | 1,611 | 4.5% | 9 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $213.0K | 1,887 | 4.3% | 10 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $212.0K | 947 | 4.3% | 3 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $212.0K | 418 | 4.3% | 10 |

## 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 |
|---|---|---|---|---|
| Q3 2022 | -6.4% | -5.3% | -1.1% | 100% |
| Q2 2022 | -20.5% | -16.5% | -4.1% | 100% |
| Q1 2022 | -17.9% | -4.9% | -13.0% | 100% |
| Q4 2021 | +0.3% | +10.7% | -10.4% | 100% |
| Q3 2021 | -1.5% | +0.3% | -1.8% | 100% |
| Q2 2021 | +11.1% | +8.0% | +3.1% | 100% |
| Q1 2021 | -0.2% | +6.0% | -6.2% | 100% |
| Q4 2020 | +10.3% | +11.6% | -1.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2022 | $5.0M | 12 |
| Q2 2022 | $22.6M | 29 |
| Q1 2022 | $33.5M | 32 |
| Q4 2021 | $303.4M | 40 |
| Q3 2021 | $300.4M | 40 |
| Q2 2021 | $280.0M | 39 |
| Q1 2021 | $274.0M | 44 |
| Q4 2020 | $234.8M | 45 |
| Q3 2020 | $177.2M | 42 |
| Q2 2020 | $114.3M | 38 |