Portfolio Rebalancing
Fulton Bank N.A. Boosts Key Stakes in GE Vernova, CME, and FirstEnergy Amid Portfolio Rebalancing
Key Points
Beyond Fulton Bank N.A.’s GE Vernova stake, several other funds boosted their GE Vernova positions in Q1: Onyx Bridge Wealth Group LLC rose to 727 shares (+1.3%), Red Door Wealth Management LLC to 1,774 shares (+0.6%), Bell Investment Advisors Inc to 221 shares (+5.2%), Sky Investment Group LLC to 2,405 shares (+0.5%), and Hilton Head Capital Partners LLC to 476 shares (+2.6%). Separately, GE Vernova CEO Victor Abate sold 4,819 shares on June 1 at an average price of $948.08, valued at about $4.57 million, leaving him with 1,835 shares.
In FirstEnergy, other institutional holders added to their positions in Q1: Woodline Partners LP increased to 43,334 shares (+40.7%), Empowered Funds LLC to 11,213 shares (+7.0%), and Focus Partners Wealth to 21,178 shares (+6.8%), with institutional ownership in the stock at about 89.41%.
In CME Group, additional buyers expanded exposure: Empowered Funds LLC up 11.5% to 10,027 shares; Marshall Wace LLP increased 103.1% to 3,692 shares; Federated Hermes Inc. jumped 1,325.2% to 23,572 shares; Nebula Research & Development LLC opened a new position valued at about $992,000; Manufacturers Life Insurance Company raised its stake to 287,876 shares. Hedge funds and institutions collectively own about 87.75% of CME Group.
For Fulton Financial, broader market activity shows multiple big investors adding new stakes, including Norges Bank and Econ Financial Services Corp, with Jefferies Financial Group Inc. also mentioned as a new stake. Institutional investors collectively own about 72.02% of Fulton Financial.
Fulton Bank N.A. made a series of bold portfolio moves in the first quarter of 2026, nearly tripling its stake in GE Vernova and lifting positions in CME Group and FirstEnergy, according to Watchlist News. At the same time, it trimmed its holdings in parent company Fulton Financial by 1.8% — a shift that signals a deliberate move away from concentrated banking risk and toward energy and financial infrastructure plays.
The moves come as institutional investors broadly realign portfolios around two dominant themes: the AI-driven power buildout and financial sector consolidation. Fulton Bank N.A.'s Q1 13F filing, submitted to the SEC on April 24, puts a dollar figure on that strategy — roughly $32.8 million spread across four key positions.
GE Vernova Bet Jumps 154% on AI Power Demand
Fulton Bank N.A. bought 1,614 new shares of GE Vernova in Q1, pushing its total to 2,663 shares worth about $2.33 million — a 153.9% increase, per Watchlist News. The bank was not alone. Smaller funds also added shares: Sky Investment Group grew to 2,405 shares, Hilton Head Capital Partners to 476 shares, and Bell Investment Advisors to 221 shares.
The buying frenzy reflects GE Vernova's explosive growth story. CEO Scott Strazik credited a $13 billion sequential backlog increase to surging demand for power and grid equipment tied to data center expansion. The company's Electrification segment alone booked $2.4 billion in orders in Q1 — more than its entire 2025 total. Analysts at RBC and Goldman Sachs hold an average price target of $1,089.88 on the stock. Still, GE Vernova's Wind CEO Victor Abate sold 4,819 shares on June 1 at $948.08 each — a $4.57 million transaction that cut his personal holdings by 72%.
Fulton Bank Loads Up on FirstEnergy as Grid Spending Soars
Fulton Bank N.A. raised its FirstEnergy stake by 34% to 75,878 shares, worth about $3.84 million. Other institutions moved in the same direction. Woodline Partners LP lifted its position by 40.7% to 43,334 shares. Empowered Funds LLC added 7.0%, reaching 11,213 shares. Total institutional ownership in FirstEnergy now sits at about 89.41%.
The appeal is clear: FirstEnergy CEO Brian X. Tierney is running a $36 billion capital plan called "Energize365" through 2030. It targets grid modernization in Ohio, Pennsylvania, and New Jersey — regions central to the data center boom. On April 28, FirstEnergy reported Q1 GAAP earnings of $0.70 per share and reaffirmed full-year core EPS guidance of $2.62 to $2.82. Utilities once seen as sleepy income plays are now being framed as AI infrastructure bets.
CME Group Attracts a Rush of New Institutional Buyers
Fulton Bank N.A. expanded its CME Group position by 43.2% to 9,143 shares, valued at about $2.7 million, according to Watchlist News. The move was part of a wider institutional push into the exchange operator. Federated Hermes increased its CME stake by a staggering 1,325.2%, jumping to 23,572 shares. Marshall Wace LLP more than doubled its position, up 103.1% to 3,692 shares. Nebula Research & Development opened a brand-new stake worth roughly $992,000.
Hedge funds and institutions now collectively own about 87.75% of CME Group. Despite that enthusiasm, CME reported Q1 EPS of $3.36 — just below the $3.40 consensus estimate. Its stock fell 1.4% on the news, a reminder that even record trading volumes cannot fully shield the company from market sensitivity to rising operating costs.
Fulton Financial Stake Trimmed Even as Outside Investors Pile In
Fulton Bank N.A. cut its Fulton Financial holdings by 1.8% to 1,179,778 shares, valued at about $23.997 million. Director E. Philip Wenger also sold 5,000 shares at $21.42 on April 13, following an earlier sale of 5,000 shares at $19.55 in January. The insider selling adds a cautious note to what is otherwise a bullish setup for the regional bank.
Outside investors are moving in as insiders step back. Norges Bank disclosed a new 2.29 million-share stake worth about $44.3 million — roughly 1.27% of the company. Econ Financial Services Corp raised its position by 57.1% to 164,003 shares. Institutional investors now hold about 72.02% of Fulton Financial. Raymond James reaffirmed an "Outperform" rating with a $24 price target, citing net interest margin expansion to 3.58% and the successful close of the Blue Foundry Bancorp acquisition in April.
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