Opal Expands Holdings
Opal Capital Expands Diverse Holdings Across Major Banks, Utilities, and Energy in Q1
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Key Points
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Beyond Opal's disclosed stake in Bank of America, the filing shows institutional investors and hedge funds own 70.71% of BAC, with notable add-ons from GatePass Capital LLC (now 5,451 shares, $266,000 value after a 190-share increase) and GeoWealth Management LLC (61,597 shares, $3.388 million value after adding 191 shares).
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Chubb COO John W. Keogh sold 23,000 shares of CB on May 27 at an average price of $321.51, totaling about $7.39 million, according to the company's disclosure.
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Petrobras accounted for roughly 1.2% of Opal Capital's portfolio, ranking as the 23rd-largest holding after Opal increased its stake by 40,920 shares to 332,600, with a reported value of about $6.901 million.
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Dominion Energy position details show Opal owns 140,937 shares after adding 7,087 in Q1, representing about 1.5% of Opal's holdings and ranking as the 17th-largest position, with a value around $8.713 million. Separately, Amundi increased its Dominion Energy stake by 38.4% in Q1 to 2,549,667 shares.
Opal Capital LLC made sweeping moves in the first quarter, sharply boosting stakes across banks, utilities, insurance, and energy. The firm's biggest headline move was a 239% surge in its Bank of America position, which jumped to 26,848 shares, according to Watchlist News.
The buying spree wasn't limited to one sector. Opal also took a fresh 4,260-share stake in insurer Chubb, added 40,920 Petrobras shares, picked up 7,087 more Dominion Energy shares, and opened a new 2,585-share position in Waste Management — painting a picture of an active firm hunting value across the market.
Opal Piles Into Bank of America and Financial Names
Opal's Bank of America stake grew by nearly 239% in Q1, rising to 26,848 shares. The firm also boosted its Charles Schwab position by 419.1%, bringing that holding to 10,211 shares, according to Watchlist News. Separately, Opal built a major Home Depot stake, jumping 1,743.8% to 18,290 shares, worth about $6.01 million.
Opal wasn't alone in liking Bank of America. Institutional investors and hedge funds together own 70.71% of BAC's shares. GatePass Capital LLC grew its stake to 5,451 shares, valued at $266,000. GeoWealth Management LLC holds 61,597 shares worth $3.388 million, per Watchlist News.
Chubb Stake Opens Amid Major Insider Sale
Opal opened a fresh position in Chubb Limited during Q1, buying 4,260 shares valued at roughly $1.388 million, according to Watchlist News. The move comes as Chubb draws wide institutional attention in the insurance space.
At the same time, Chubb's own COO was heading for the exit. John W. Keogh sold 23,000 shares on May 27 at an average price of $321.51 per share. That sale totaled about $7.39 million. Insider sales of that size can signal caution at the top, though they don't always predict stock direction.
Petrobras Grows Into a Top-25 Portfolio Holding
Opal raised its Petrobras stake by 40,920 shares — a 14% increase — bringing the total to 332,600 shares. The position is now worth about $6.901 million, according to Watchlist News. That makes Petrobras 1.2% of Opal's total portfolio, ranking it 23rd among all holdings.
Petrobras is Brazil's state-owned oil giant. It trades in New York under the ticker PBR. Opal's growing bet suggests confidence in emerging-market energy, even as global oil prices stay volatile. The position now sits among Opal's most meaningful single-stock exposures.
Dominion Energy Ranks as Opal's 17th-Largest Bet
Opal added 7,087 Dominion Energy shares in Q1, lifting its total to 140,937 shares worth about $8.713 million, according to Watchlist News. The utility now makes up roughly 1.5% of Opal's portfolio and sits at the 17th spot among its largest holdings.
Opal wasn't the only firm adding to Dominion. Asset manager Amundi grew its Dominion stake by 38.4% during the same quarter, reaching 2,549,667 shares. That kind of parallel buying from multiple firms often signals broad confidence in a stock's near-term outlook. Dominion is one of the largest electric utilities in the US.
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