Strategic Investment Expansion
William Blair Expands Portfolio With Strategic Stakes in Tech and Manufacturing Firms
Key Points
BlackRock opened a new BWX Technologies position in the second quarter valued at about $2.36 billion.
BlackRock also took a new Old National Bancorp position in the second quarter valued at about $1.216 billion, signaling strong confidence in regional lenders.
Kennametal declared a quarterly dividend of $0.20 per share, payable Aug 25 to shareholders of record Aug 11.
Blair’s BorgWarner stake totals 3,784,707 shares worth about $251.3 million, representing roughly 0.8% of Blair’s holdings and ranking as Blair’s 19th largest position.
Novanta shows broader institutional interest in Q2, with Blair buying 765,867 shares (~$124.25 million) and Wasatch Advisors increasing its stake by about 10.6%.
William Blair Investment Management deployed roughly $900 million across six new or expanded stock positions in the second quarter, signaling broad confidence in industrials and technology companies. The investment firm's moves included a $99 million stake in regional bank Old National Bancorp and a $183 million position in nuclear equipment maker BWX Technologies, joining heavy buying from peers like BlackRock that suggest institutional money is flowing into these sectors.
Blair's portfolio reshuffling also extended to manufacturing and specialized tech names, with the firm acquiring roughly 3.78 million BorgWarner shares worth $251 million and opening a $124 million position in engineering company Novanta. The flurry of activity shows how major asset managers are positioning for industrial growth and regional banking opportunities.
William Blair Bets $99 Million on Regional Banking
William Blair purchased 3.83 million shares of Old National Bancorp in the second quarter, creating a new $99.28 million stake in the regional bank according to watchlistnews. BlackRock also initiated a position worth about $1.216 billion in the same period, signaling that heavyweight institutional investors remain bullish on regional lenders despite broader economic uncertainty.
Nuclear Equipment Maker Attracts $183 Million Inflow
Blair acquired about 941,000 shares of BWX Technologies during the quarter, building a roughly $183 million position in the specialized nuclear and defense contractor according to sources. BlackRock aggressively entered the stock around the same time, amassing a $2.36 billion stake, indicating strong institutional conviction in the company's growth prospects in nuclear energy and space propulsion markets.
Manufacturing Plays Anchor Blair's Industrial Tilt
Blair poured $251.3 million into BorgWarner, purchasing 3.78 million shares that now rank as the firm's 19th largest holding at 0.8% of total assets according to market data. The multinational auto supplier position reflects Blair's bet on companies with exposure to evolving propulsion markets and automotive innovation, even as the sector navigates transition challenges.
In Kennametal, Blair acquired nearly 2 million shares valued at roughly $69.6 million according to watchlistnews. The manufacturing tools company declared a $0.20 quarterly dividend payable August 25, offering investors a modest income stream alongside exposure to industrial equipment demand.
Specialized Tech Roundout Blair's Quarter of Growth Bets
Blair opened a fresh position in Novanta, buying 765,867 shares for approximately $124.25 million according to market reports. The specialized technology and engineering company appealed to multiple institutional buyers, with Wasatch Advisors also increasing its Novanta stake by roughly 10.6% during the same period, showing broad investor interest in companies serving niche industrial and medical markets.
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