Reinhart's Strategic Portfolio Shift
Reinhart Partners Adjusts Portfolio, Trims AFG Stake While Boosting Cadre, PAR, and ASGN Holdings
Anonymous
Reinhart Partners LLC cut its stake in American Financial Group by about half in the fourth quarter, ending with roughly 25,500 shares worth about $3.5 million, even as other institutional investors increased positions in the insurer. The firm also raised its exposure to Cadre Holdings, adding about 247,000 shares to hold roughly 2.17 million shares valued near $88.6 million, making Cadre a small but meaningful portion of its portfolio. Reinhart further increased its PAR Technology position, buying about 410,000 additional shares to reach about 1.31 million shares worth approximately $47.5 million. It likewise expanded its ASGN stake by about 12.5%, bringing holdings to roughly 1.21 million shares valued around $58.1 million. Across these moves, the reports highlight heavy institutional ownership and additional trading activity by other funds, suggesting broad market participation rather than a single-actor shift.
Key Points
1
In American Financial Group (AFG), Global Retirement Partners LLC boosted its stake by 904.8% in the fourth quarter—buying an additional 190 shares to reach 211 shares valued at about $29,000—highlighting the size of other investors’ follow-on activity beyond Reinhart’s trimming.
2
For Cadre Holdings (CDRE), Reinhart said the position makes up about 2.7% of its portfolio and is its 18th-largest holding, while hedge funds and other institutional investors own 43.95% of the stock—an ownership mix figure not included in the summary.
3
PAR Technology (PAR) also drew additional sell-side attention: Needham & Company lowered its PAR price objective from $30.00 to $25.00 and kept a “buy” rating in a research note dated April 9.
4
In ASGN (EFOR), the articles note insider buying by EVP Marie Perry, who purchased 5,350 shares at an average cost of $18.70 per share (total value $100,045) on April 24—adding context that capital activity wasn’t limited to external institutions.
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