LSERS New Investments
LSERS Diversifies Portfolio, Investing $3.6 Million in Five New Stock Positions
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Key Points
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Harley-Davidson CFO insider activity: CFO Jonathan R. Root sold 1,554 shares on July 1 at an average price of $24.44, for a total of about $37,979.76, independent of LSERS's new $694,000 Harley stake disclosed in Q1.
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Ashland's institutional ownership is heavily concentrated among large funds with notable stakes: AQR now holds 3,454,646 shares ($172.3M) after a 2,555,585-share addition; Jefferies holds 1,900,000 shares ($111.5M) after purchasing 1,682,994; Diamond Hill 1,801,062 shares ($105.7M); Franklin Resources 1,736,173 shares ($101.9M). Overall, institutional ownership stands at 93.95%.
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Hilltop Holdings: LSERS’ 18,500-share new stake totals about $663,000; the stock showed a small intraday move (up $0.09 to $38.69) with relatively low trading volume, and the company faces a dividend announcement in the same report (quarterly dividend noted).
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Textron's notable institutional ownership includes State Street (9,464,324 shares, $825.2M) and Invesco (8,270,901 shares); AQR expanded by 51.1% in the last quarter, and Dimensional and other majors also increased holdings; Jefferies and Citi provided positive analyst guidance (Jefferies Buy; Citi target raised to $99).
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Aptiv remains highly institutionally owned (94.21%), with LSERS joining a slate of funds; recent holders highlighted include Westpac Banking Corp (+6.6%), Sivia Capital Partners, Advisors Asset Management, Benjamin Edwards Inc., and Unified Investment Management expanding their positions.
The Louisiana State Employees Retirement System (LSERS) deployed roughly $3.6 million into five new stock positions in the first quarter of 2024, according to Ticker Report and Watchlist News. The fund bought shares in Harley-Davidson, Ashland, Hilltop Holdings, Textron, and Aptiv — spreading bets across industrials, materials, aerospace, and financial services.
The largest single bet was $779,000 into aerospace conglomerate Textron, where LSERS picked up 8,900 shares. The smallest was $663,000 into regional financial firm Hilltop Holdings, where LSERS added 18,500 shares. Each position was brand new — LSERS held none of these stocks before Q1.
Breaking Down Each of LSERS's Five New Bets
LSERS bought 34,300 shares of Harley-Davidson for roughly $694,000. It added 13,300 shares of specialty chemicals maker Ashland for about $740,000. The Textron stake — 8,900 shares for $779,000 — was the priciest of the five, according to Ticker Report.
Rounding out the group, LSERS grabbed 10,800 shares of auto parts supplier Aptiv for around $750,000. Hilltop Holdings, a Texas-based financial services firm, got 18,500 shares for $663,000. All five buys were disclosed in mandatory quarterly filings. Together they signal a deliberate push into cyclical, economically sensitive sectors.
Harley-Davidson CFO Sells Shares as LSERS Buys In
While LSERS was building its new $694,000 Harley-Davidson stake, the company's own CFO was heading for the exit. Jonathan R. Root sold 1,554 shares on July 1 at an average price of $24.44, pocketing roughly $37,980, according to Watchlist News. Insider sales don't always signal trouble, but the timing is worth noting.
The CFO sale and the LSERS purchase are unrelated transactions. Institutional investors like LSERS often build positions based on long-term models, not short-term price moves. Still, the contrast — a top executive selling while a major fund buys — is a dynamic investors often watch closely.
Ashland and Textron Draw Crowd of Big Institutional Buyers
LSERS is far from alone in these stocks. Ashland now has 93.95% institutional ownership. AQR alone holds 3,454,646 shares worth $172.3 million after adding 2,555,585 shares in a single quarter, according to Watchlist News. Jefferies holds 1,900,000 shares valued at $111.5 million. Diamond Hill and Franklin Resources each top $100 million in Ashland exposure.
Textron draws equally serious attention. State Street holds 9,464,324 shares worth $825.2 million. Invesco owns 8,270,901 shares. AQR expanded its Textron position by 51.1% last quarter. Analyst sentiment is bullish too — Jefferies rates it a Buy, and Citi raised its price target to $99, according to Ticker Report.
Aptiv and Hilltop Round Out a Diversified Portfolio Push
Aptiv is one of the most institutionally owned stocks in LSERS's new batch, with 94.21% of shares held by funds. Recent buyers include Westpac Banking Corp, which grew its stake by 6.6%, along with Sivia Capital Partners and Advisors Asset Management, according to Watchlist News. LSERS joins a crowded but confident institutional field.
Hilltop Holdings was the quietest of the five on the day its LSERS position was disclosed. The stock rose just $0.09 to $38.69 on low trading volume. The company also announced a quarterly dividend in the same reporting period. LSERS's $663,000 stake is modest, but it fits the fund's pattern of adding small, diversified footprints across sectors.
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