Walser Wealth's Q4 Investments
Walser Wealth Management Acquires New Positions in Key Q4 Equities
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Key Points
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Walser’s Freeport-McMoRan buy was 17,372 shares, and the company’s dividend details included a $0.075 quarterly payout to stockholders of record on April 15 (ex-dividend date April 15), which annualizes to $0.30 and corresponds to a 0.4% dividend yield; Freeport-McMoRan’s dividend payout ratio was listed as 15.96%.
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For UnitedHealth Group, Walser disclosed it purchased 2,301 shares valued at about $760,000, while other institutional activity included Norges Bank buying a new UNH position valued at roughly $4.376 billion and Cardano Risk Management B.V. increasing its stake by 864.4% (to 2,523,700 shares).
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DNP Select Income Fund was described as a closed-end management investment company whose primary objective is to provide high current income, with capital appreciation listed as a secondary objective; the article also cited recent trading levels (DNP opened at $10.74 and had a 52-week range of $9.59 to $10.92).
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In Procter & Gamble coverage, brokerage specifics included BNP Paribas Exane cutting its target price from $172 to $165 while maintaining an “outperform” rating, and Deutsche Bank reiterating a “buy” rating with a $163 price target (alongside the Walser 4th-quarter purchase of 3,520 PG shares worth about $504,000).
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The articles also reported the breadth of institutional ownership: Freeport-McMoRan had 80.77% of shares owned by institutional investors/hedge funds, and UnitedHealth Group had 87.86% institutional ownership—context that goes beyond the summary’s focus on Walser’s individual buys.
Walser Wealth Management bought 17,372 shares of Freeport-McMoRan in the fourth quarter of 2023, a position worth roughly $882,000, according to MarketBeat. The Florida-based wealth management firm made the move as copper demand surged on the back of electric vehicles, AI data centers, and renewable energy infrastructure.
The Freeport-McMoRan buy was one of several new positions Walser established in Q4. The firm also picked up shares of UnitedHealth Group, DNP Select Income Fund, and Procter & Gamble — a set of moves that signals a broader shift toward income-producing, blue-chip stability for its clients.
Walser's Copper Bet on Freeport-McMoRan
Freeport-McMoRan is one of the world's largest copper producers. Walser's $882,000 entry at 17,372 shares came ahead of the company's quarterly dividend payout. Freeport declared a $0.075 per share cash dividend, with an ex-dividend and record date of April 15, 2024, and a payment date of May 1, according to FCX Investor Relations. That works out to $0.30 per share annually — a 0.4% dividend yield.
The dividend yield is slim, but the payout ratio — at just 15.96% — leaves a lot of room for increases if copper prices climb. Copper is a critical input for EVs and power grids. Institutional investors already hold 80.77% of Freeport's shares, per MarketBeat, reflecting strong conviction from professional money managers.
Norges Bank Pours $4.4 Billion Into UnitedHealth
Walser also bought 2,301 shares of UnitedHealth Group worth about $760,000 in Q4. But Walser wasn't alone. Norway's sovereign wealth fund, Norges Bank, entered a brand-new UNH position valued at $4.376 billion in the same period, according to SEC 13F filings. Cardano Risk Management B.V. boosted its UNH stake by 864.4%, reaching 2,523,700 shares.
UnitedHealth faced real headwinds in early 2024 — a major cyberattack on its Change Healthcare unit and federal scrutiny of its Medicare Advantage business rattled the stock. Yet institutional investors hold 87.86% of UNH shares, per MarketBeat. That level of ownership suggests big money views the trouble as temporary, not structural.
DNP Fund and P&G Round Out the Q4 Buys
Walser added a $852,000 position in DNP Select Income Fund, a closed-end fund run by Duff & Phelps that focuses on public utilities. Its primary goal is high current income, with capital appreciation as a secondary target, according to Duff & Phelps Investment Management. DNP opened at $10.74 at the time of reporting, within its 52-week range of $9.59 to $10.92.
In Procter & Gamble, Walser picked up 3,520 shares for about $504,000. The stock drew mixed views from analysts. BNP Paribas Exane cut its P&G price target from $172 to $165 on April 23, 2024, though it kept an "outperform" rating, per Investing.com. Deutsche Bank held its ground with a "buy" rating and a $163 price target, betting on P&G's pricing power and its track record of 42 straight years of dividend growth.
Why Walser's Picks Reflect a Defensive Income Strategy
Walser Wealth, led by CEO Rebecca Walser, specializes in tax-efficient wealth planning and retirement income. The Q4 purchases fit that mold. FCX offers a copper proxy for long-term industrial growth. DNP targets steady utility income. P&G delivers consumer staples stability. UNH provides exposure to healthcare, a sector that tends to hold up in downturns, according to Walser Wealth.
The overall picture is one of "defensive growth" — equities that can generate income while holding value during market uncertainty. For retirees and high-net-worth clients, that balance matters more than chasing high-growth tech. The four positions together total roughly $2.998 million in new Q4 exposure, a meaningful commitment to blue-chip American companies.
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