Institutional Portfolio Rebalancing
Davis R M Inc. Rebalances Portfolio, Trimming Stakes in Four Key Companies
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Key Points
1
MKC: Other large investors also adjusted their McCormick positions in Q1, with Goldman Sachs increasing its stake by 60.9% to 1,659,766 shares, PGGM Investments up 10.2% to 746,607 shares, Vanguard Group up 1.0% to 32,679,906 shares, Middleton & Co. Inc. MA taking a new stake, and HSBC Holdings PLC lifting its stake by 10.4% to 500,292 shares (institutional ownership in MKC around 79.74%).
2
AME: Davis R M’s AMETEK position remains about 1.2% of its portfolio and is the fund’s 22nd-largest holding, with 307,111 shares worth roughly $65.8 million after a 1.4% reduction.
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CME Group: In addition to the 9.5% trim to 49,858 shares, CME Group has attracted notable institutional moves this quarter, including Norges Bank’s new Q4 stake (about $1.5B) and sizable stakes added by Victory Capital, Life Cycle Investment Partners, Viking Global Investors and Vanguard, with overall institutional ownership around mid-to-high 80% range.
4
ACN: Beyond the fund’s 27.1% reduction to 33,856 shares, Accenture saw insider activity this quarter: CEO Atsushi Egawa sold 4,872 shares on April 30 for about $863,026, leaving him with 12,802 shares valued around $2.27 million.
Davis R M Inc. trimmed its positions in four major stocks during the first quarter of 2025, with cuts ranging from 1.4% to 27.1%, according to Watchlist News. The Pennsylvania-based investment firm reduced stakes in McCormick & Co., AMETEK, CME Group, and Accenture as part of a broader portfolio rebalancing effort.
The biggest cut came in Accenture, where Davis R M slashed its stake by 27.1% to just 33,856 shares, worth about $6.71 million. Its McCormick position fell by 24.1% to 80,883 shares, valued at roughly $4.08 million.
AMETEK Remains Davis R M's Largest Trimmed Position
Despite cutting its AMETEK stake by 1.4%, Davis R M still holds 307,111 shares worth about $65.8 million, according to Ticker Report. That makes AMETEK the firm's 22nd-largest holding. It also represents roughly 1.2% of Davis R M's total portfolio — by far the biggest dollar position among the four stocks sold.
The small percentage cut in AMETEK stands out against the much larger reductions elsewhere. Davis R M appears to still believe in the industrial instruments maker, keeping the position largely intact while trimming around the edges.
CME Group Sees Heavy Institutional Activity This Quarter
Davis R M cut its CME Group position by 9.5%, bringing it down to 49,858 shares worth about $14.7 million. But the exchange operator has attracted serious attention from other big investors this quarter. Norges Bank took a new stake worth roughly $1.5 billion in Q4, according to Watchlist News.
Victory Capital, Life Cycle Investment Partners, Viking Global Investors, and Vanguard all added sizable CME Group positions this quarter as well. Overall institutional ownership in CME Group sits in the mid-to-high 80% range, showing deep confidence from large money managers even as Davis R M pulled back.
Goldman and Vanguard Move Into McCormick as Davis R M Exits
Davis R M cut its McCormick stake by 24.1%, but other big institutions moved in the opposite direction. Goldman Sachs boosted its McCormick position by 60.9% to 1,659,766 shares, according to Watchlist News. PGGM Investments grew its stake by 10.2% to 746,607 shares. Vanguard added shares too, lifting its position by 1.0% to 32,679,906 shares.
HSBC Holdings also raised its McCormick stake by 10.4% to 500,292 shares. Middleton & Co. Inc. of Massachusetts took a brand-new position. Total institutional ownership in McCormick sits at about 79.74%, meaning large funds still hold the stock firmly.
Accenture CEO Also Sold Shares as Davis R M Pulled Back
Davis R M's 27.1% cut in Accenture was not the only notable exit from the consulting giant. CEO Atsushi Egawa sold 4,872 shares on April 30 for about $863,026, according to Watchlist News. After the sale, Egawa held 12,802 shares worth around $2.27 million.
Insider sales by top executives often draw attention from market watchers. When the CEO and a major fund both reduce their exposure at the same time, investors tend to take notice. Davis R M's Accenture position now stands at just $6.71 million after the reduction.
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