Oak Portfolio Reshapes
Oak Associates Adds Millions to Tech and Energy Stocks, Cuts Advanced Energy Holdings
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Key Points
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APA Corporation insider activity: VP Mark D. Maddox sold 9,800 shares on May 20 at an average price of $40.04 per share (total value $392,392), leaving him with 66,810 shares as reported in related filings.
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APA's institutional ownership is high, with 83.01% of the stock currently owned by institutional investors, according to the filing.
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Pegasystems Inc. shows heavy hedge fund and institutional ownership, with 46.89% of the stock held by such investors.
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Adobe Inc. CEO Shantanu Narayen sold 75,000 shares on April 28 for about $18.27 million, in a notable insider transaction.
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In Advanced Energy Industries, Oak reduced its stake by 67.7% in Q1, selling 16,923 shares and ending with 8,091 shares worth roughly $2.61 million; other institutions also added new positions in AEIS in the fourth quarter, including KeyBank National Association OH, Campbell Newman Asset Management Inc., and B. Metzler seel. Sohn & Co. AG.
Oak Associates Ltd., an Ohio-based institutional investor, opened new positions in five publicly traded companies during the first quarter, according to the latest SEC 13F filings reported by Watchlist News. The firm's biggest new bet was on Adobe, where it now holds 123,922 shares worth about $30.1 million.
At the same time, Oak cut its stake in Advanced Energy Industries by 67.7%, selling 16,923 shares and ending the quarter with just 8,091 shares valued at around $2.6 million. The moves show a firm actively reshaping its portfolio across energy, software, and analytics.
Oak Bets Big on Adobe and Pegasystems Software
Adobe was Oak's largest new commitment this quarter. The firm added 44,593 shares, pushing its total Adobe position to 123,922 shares worth roughly $30.1 million. That is a significant bet on one of the world's biggest software companies.
In Pegasystems, Oak bought 42,478 shares for about $1.8 million, according to Watchlist News. Hedge funds and institutions already own 46.89% of Pegasystems stock. Oak is now joining a crowded field of institutional believers in that company.
New Energy Stakes in APA Corporation and EOG Resources
Oak entered APA Corporation with a 108,134-share position worth about $4.6 million. Institutional investors already own 83.01% of APA's stock, making it one of the more heavily institutionally owned energy names in Oak's new holdings.
Oak also took a new stake in EOG Resources, picking up 47,091 shares of the energy exploration company, according to Watchlist News. Both APA and EOG moves signal that Oak is adding exposure to the energy sector after a period of market uncertainty.
Adobe CEO and APA Insider Both Sold Shares This Quarter
While Oak was buying Adobe, company insiders were selling. Adobe CEO Shantanu Narayen sold 75,000 shares on April 28 for about $18.27 million. Insider sales do not always signal trouble, but the size of the transaction is notable.
At APA, VP Mark D. Maddox sold 9,800 shares on May 20 at an average price of $40.04 per share, totaling $392,392. He still holds 66,810 shares after the sale. Insider selling at two of Oak's new holdings adds a layer of complexity to the firm's bullish moves.
Oak Trims Advanced Energy and Palantir Holdings Sharply
Oak slashed its Advanced Energy Industries position by 67.7%, selling 16,923 shares and leaving just 8,091 shares worth about $2.61 million, according to Watchlist News. Other institutions, including KeyBank National Association and Campbell Newman Asset Management, were adding new positions in the same stock.
Oak also cut its Palantir position by 62.8%, selling 6,470 shares. The remaining Palantir holdings were worth $562,000. The firm also trimmed 7,324 shares of State Street Corporation, reducing that position by 10.3% to 63,793 shares, per Ticker Report.
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