Institutional Portfolio Rebalancing
Dearborn Partners Trims Stakes in S&P Global, Other Major Firms Amid Rebalancing
Dearborn Partners LLC reduced positions across a range of large U.S. companies, trimming stakes reported in recent filings while other institutional investors often moved in the opposite direction by adding shares. In S&P Global, the firm cut its stake by 8.8% during the fourth quarter, even as several asset managers increased their holdings. Dearborn also trimmed Stryker by 3.8%, Mondelez International by 12.4%, and Automatic Data Processing by 3.9%. For Merck & Co., Dearborn lowered its stake by 3.8%, in a context where major funds such as Vanguard and Geode continued to add to their own positions. Across these names, institutional investors collectively own the majority of shares, underscoring that the moves are part of broader, ongoing portfolio rebalancing rather than company-specific actions.
Key Points
For S&P Global, Dearborn Partners reported it held 55,269 shares after selling 5,358 during the quarter; the position was worth about $28.88 million, and it ranked as Dearborn’s 29th-largest holding (~1.4% of its portfolio). The article also notes that 87.17% of SPGI stock is owned by hedge funds and other institutional investors.
For Stryker, Dearborn held 80,912 shares after selling 3,173, with the stake valued at about $28.44 million. The article highlights large inflows from other investors, including Daymark Wealth Partners, which increased its position by 436.0% (adding 37,307 shares) and Wealthcare Advisory Partners, which increased by 265.2% (adding 6,774 shares).
For Mondelez International, beyond the ownership change, the article includes specific balance-sheet and market metrics: debt-to-equity of 0.60, quick ratio of 0.37, current ratio of 0.54, and trading benchmarks of a 50-day moving average at $59.64 and a 200-day moving average at $57.89 (along with the note that 78.32% of MDLZ is owned by institutional investors).
For Automatic Data Processing, Dearborn owned 186,218 shares after selling 7,602; the stake was worth about $47.90 million. The article also characterizes ADP as a more prominent position for the firm—~2.4% of its portfolio and its 4th-largest position—and notes a large new stake from Pinebridge Investments valued at approximately $28.26 million.
For Merck & Co., Dearborn reported it held 220,100 shares after selling 8,799, valuing the stake at about $23.17 million; the article also states that institutional investors own 76.07% of MRK. In addition, it flags company-specific news: Merck “reached a settlement of more than $50 million to resolve over 200 Gardasil-related lawsuits,” described as removing a significant legal overhang.
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