Institutional Portfolio Updates

Beyond Brasada, several large institutions increased their stakes in Automatic Data Processing (ADP) in Q2, including BlackRock (~$8.1 billion), Bank of America (~$1.23 billion), Deutsche Bank (~$995 million), and Bank of New York Mellon (~$725.5 million), with institutional investors accounting for about 80% of ADP's stock.

Devon Energy (DVN) drew broad institutional interest in Q2, with Woodline Partners expanding to 115,780 shares (up 98.8%), Jump Financial adding to 28,251 shares, and Daiwa Securities Group and NewEdge Advisors lifting their positions to roughly 148,882 and 144,174 shares respectively, contributing to a 69.72% institutional ownership share.

Digital Realty Trust (DLR) saw BlackRock open a new stake during the quarter worth billions, while Cohen & Steers increased its holding to about 28 million shares; Norges Bank also took a new stake in Q4, highlighting outsized institutional involvement in the REIT (nearly 100% of shares held by institutions).

ADP insider activity included VP David Kwon selling 798 shares on August 20 for $223,440; post-sale he owned 13,193 shares valued around $3.69 million, representing a 5.70% reduction in his stake and executed under a pre-arranged Rule 10b5-1 plan.