Invesco Portfolio Shifts
Invesco Reduces Goldman Sachs Stake and Other Major Holdings in Fourth Quarter Rebalancing
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Key Points
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Invesco cut its Goldman Sachs stake by 6.3% in the fourth quarter, selling 182,720 shares and ending with 2,730,452 shares worth about $2.40 billion, per its latest SEC filing referenced by Watchlist News.
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For Parker-Hannifin, Invesco trimmed 8.5%—selling 194,648 shares and holding 2,105,493 shares worth about $1.85 billion—and the article notes institutional investors own 82.44% of the company’s stock.
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Abbott Laboratories: Invesco reduced its position by 4.4%, selling 610,916 shares and ending with 13,340,991 shares valued at about $1.67 billion; the article also highlights a dramatic increase by J. Stern & Co. LLP, up 12,439.6% in Q4.
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Coca-Cola Europacific Partners: Norges Bank bought a new stake in the fourth quarter valued at $363,294,000, and UBS raised its target price from $107 to $109 while reiterating a “buy” rating (as cited in the report).
Invesco Ltd. sold 182,720 shares of Goldman Sachs in the fourth quarter, cutting its stake by 6.3%, according to Watchlist News. The asset manager ended the period holding 2,730,452 shares worth about $2.40 billion. The move is part of a broader portfolio rebalancing across banking, industrials, and healthcare.
The trimming extended beyond Goldman Sachs. Invesco also shed shares in Parker-Hannifin, Abbott Laboratories, and Coca-Cola Europacific Partners during the same period. At the same time, the firm added to its Philip Morris International position, bringing that stake to roughly $2.51 billion, per MarketBeat.
Goldman Sachs and Parker-Hannifin Cuts Lead Invesco Trims
Invesco's Goldman Sachs reduction was notable but not its largest cut. The firm slashed its Parker-Hannifin position by 8.5%, selling 194,648 shares, according to Watchlist News. It now holds 2,105,493 shares worth about $1.85 billion. Institutional investors as a group own 82.44% of Parker-Hannifin's total stock.
The Parker-Hannifin selldown may reflect valuation concerns. The stock's price-to-earnings ratio hit 32.5 in early 2026, raising flags about whether the price had run too far ahead of fundamentals, per Investing.com. Invesco's Midyear Outlook, released June 15, flagged a push toward more defensive positions and non-US equities.
Abbott Labs Sale Contrasts with J. Stern's Massive Buy-In
Invesco cut its Abbott Laboratories stake by 4.4%, selling 610,916 shares. It still holds 13,340,991 shares valued at about $1.67 billion. But not everyone is pulling back. J. Stern & Co. LLP went the opposite direction, growing its Abbott position by a staggering 12,439.6% in the same quarter, per MarketBeat.
J. Stern now holds 39,319,009 shares worth roughly $4.90 billion. The sharp divide between Invesco's exit and J. Stern's surge shows how differently major asset managers read the 2026 healthcare outlook. One firm sees risk; the other sees a buying opportunity.
Norges Bank Enters Coca-Cola Europacific, UBS Lifts Target
While Invesco trimmed its Coca-Cola Europacific Partners (CCEP) position, Norway's sovereign wealth fund moved in. Norges Bank initiated a brand-new CCEP stake worth $363.3 million in the fourth quarter, according to MarketBeat. UBS analyst Sanjeet Aujla raised his price target on CCEP from $107 to $109 in late April, keeping a "buy" rating.
UBS cited strong momentum, noting that CCEP's organic sales growth of 10% came in 300 basis points above Wall Street expectations. Wells Fargo also started coverage of CCEP with an "Overweight" rating and a $110 target, per Benzinga. The beverage sector is drawing broad institutional interest even as some managers rebalance away.
Invesco Bets Bigger on Philip Morris Despite Currency Hit
Even as Invesco cut other positions, it added 383,786 shares of Philip Morris International. Its total PMI stake now sits at roughly $2.51 billion, per MarketBeat. CEO Jacek Olczak said on June 2 that the company expects "strong full-year performance, notably driven by the broad-based momentum" of its smoke-free products like IQOS and ZYN.
The bet is not without risk. Philip Morris cut its 2026 earnings-per-share guidance from as high as $8.46 down to $7.33, hurt by currency headwinds and a $500 million impairment tied to its Canadian unit, according to Simply Wall St. Smoke-free products now account for 43% of PMI's net revenue, and Invesco appears to be betting that growth continues to offset the pressure on traditional cigarettes.
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