Primecap portfolio expansion
Primecap Management Discloses New Positions in United Airlines, Visa and Union Pacific
Anonymous
Key Points
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Rhythm Pharmaceuticals drew further attention from other large investors in Q2. In addition to Primecap's new stake, Prudential Financial Inc. increased to 7,095 shares valued at about $423,000, Qube Research & Technologies Ltd. lifted its stake to 240,345 shares valued at roughly $15.19 million, and Sei Investments Co. boosted its holdings to 33,145 shares valued at about $2.10 million.
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Union Pacific EVP Eric J. Gehringer sold 2,991 shares on June 3 for about $789,504, reducing his stake to 43,012 shares valued at roughly $11.35 million.
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Canada Pension Plan Investment Board boosted its Visa stake by 86.8% in the second quarter to 1,718,240 shares valued at about $589.5 million; Visa represented roughly 0.9% of Primecap's portfolio and was the 24th-largest holding.
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Fair Isaac Corp. director Eva Manolis sold 967 shares for approximately $1.354 million on July 29, leaving 498 shares valued at about $697,200.
Primecap Management Co. CA expanded its investment portfolio in the second quarter, opening new positions in five companies including Rhythm Pharmaceuticals, Union Pacific, United Airlines Holdings, Visa, and Fair Isaac Watchlist News. The fund's largest new investment was United Airlines at $2.239 billion—16.46 million shares that rank as its 18th biggest holding. Rhythm Pharmaceuticals drew $351.8 million in Primecap capital across 3.17 million shares, while Visa received $1.464 billion and Union Pacific $211 million.
Primecap's $6 Billion Shopping Spree Across Five Sectors
Primecap's new stakes span healthcare, transportation, financial services, and payments Watchlist News. The $2.239 billion United Airlines bet makes up the bulk of the spending. Visa's $1.464 billion position ranks as the fund's 24th-largest holding at roughly 0.9% of its portfolio. Fair Isaac received $433.5 million for 362,835 shares, rounding out a diversified deployment of capital.
Other Major Investors Follow Primecap Into Rhythm Pharma
Rhythm Pharmaceuticals attracted multiple institutional buyers in Q2 beyond Primecap Watchlist News. Qube Research & Technologies lifted its stake to 240,345 shares worth $15.19 million. Prudential Financial increased to 7,095 shares valued at $423,000. Sei Investments boosted holdings to 33,145 shares worth $2.10 million. The pattern suggests growing confidence in the pharmaceutical company.
Insiders Trim Stakes While Institutions Build Positions
While Primecap and other funds were buying, company insiders sold modest amounts Watchlist News. Union Pacific executive Eric Gehringer sold 2,991 shares on June 3 for $789,504, cutting his holding to 43,012 shares worth $11.35 million. Fair Isaac director Eva Manolis sold 967 shares on July 29 for $1.354 million, leaving just 498 shares valued at $697,200. These insider sales are small relative to institutional buying pressure.
Canada Pension Plan Surges Into Visa With 86.8% Increase
Canada Pension Plan Investment Board made an aggressive move on Visa in the second quarter Watchlist News. The fund boosted its stake by 86.8% to 1,718,240 shares worth $589.5 million. This significant jump underscores institutional appetite for the payments processor at current valuations. Primecap's own Visa investment of $1.464 billion dwarfs CPPIB's position, showing how major money managers are rotating into similar names.
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