Assenagon's Strategic Investments
Assenagon Asset Management Expands Portfolio with Key Stakes in Fabrinet and Other Tech Firms
Key Points
NewEdge Advisors LLC increased its Fabrinet stake by 6,850.0% in the first quarter, signaling a dramatic tilt toward Fabrinet beyond the quarter's initial buys.
Director Homa Bahrami sold 2,500 Fabrinet shares on May 22, realizing about $1.78 million, reducing her direct stake to 16,233 shares.
About 97.38% of Fabrinet’s stock is owned by hedge funds and other institutional investors, underscoring heavy institutional ownership.
Institutional investors own 87.77% of Paycom Software (PAYC), highlighting a broad, entrenched ownership base for the company.
Royal Bank of Canada boosted its Artisan Partners Asset Management stake by 24.9% in Q1, now owning 138,628 shares worth about $5.42 million.
Assenagon Asset Management S.A. bought 899 shares of Fabrinet (NYSE: FN) in the second quarter, worth roughly $505,000, according to Defense World. The Luxembourg-based firm also opened new positions in Paycom Software, Artisan Partners, and Webull during the same period, signaling an active quarter of stake-building across tech and financial services.
The moves come as institutional investors already hold about 97.38% of Fabrinet's outstanding shares, per Defense World. That figure underscores just how dominant professional money managers have become in setting the price and direction of the stock.
Assenagon Spreads $2.4 Million Across Four New Stakes
Beyond Fabrinet, Assenagon put $532,000 into 4,235 shares of Paycom Software (PAYC), according to Defense World. It also bought 20,275 shares of Artisan Partners Asset Management (APAM) for about $700,000. A fourth new position — 105,744 shares of Webull (BULL) — cost the firm roughly $689,000.
Add it up and Assenagon deployed over $2.4 million across four names in a single quarter. Each pick sits in either technology or financial services. The pattern points to a deliberate, selective strategy rather than broad index-style buying.
Fabrinet Draws Heavy Institutional Buying From All Sides
Assenagon was far from alone in moving into Fabrinet. NewEdge Advisors LLC grew its Fabrinet stake by a staggering 6,850% in the first quarter, per Defense World. That kind of jump — from a near-zero position to a meaningful one — signals a sharp change in conviction from that fund.
With 97.38% of Fabrinet held by institutions and hedge funds, retail investors make up only a tiny slice of ownership. That level of institutional control often means the stock moves on earnings calls, analyst upgrades, and large fund rebalancing — not retail sentiment.
Fabrinet Director Sells $1.78 Million in Shares
Not everyone was buying. Fabrinet director Homa Bahrami sold 2,500 shares on May 22, collecting about $1.78 million, according to Defense World. After the sale, she held 16,233 shares directly. Insider sales do not always signal trouble, but they are tracked closely by investors watching for early signals.
Paycom and Artisan Also Draw Strong Institutional Backing
Paycom Software (PAYC) is no stranger to institutional interest either. About 87.77% of the company is held by institutional investors, per Defense World. That is a high but slightly lower concentration than Fabrinet, leaving a bit more room for individual investors in the ownership mix.
At Artisan Partners, Royal Bank of Canada raised its stake by 24.9% in the first quarter, ending up with 138,628 shares worth about $5.42 million, according to Defense World. Assenagon's own new position in APAM adds to that growing institutional base, suggesting continued confidence in the asset management sector.
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