Severin Diversifies Holdings
Severin Investments Diversifies Portfolio with New Stakes in IMAX, American Express, and Expanded Union Pacific Holdings
Anonymous
Key Points
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In IMAX, Severin’s new 14,939-share stake is complemented by notable activity from other large investors in IMAX, including Citi boosting its stake to 66,769 shares, Pier Capital owning 244,589 shares after adding 112,397, and new positions taken by Divisadero Street Capital Management and Hedges Asset Management.
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Severin’s Union Pacific position totals 5,138 shares, worth about $1.247 million, making UNP roughly 1.1% of Severin’s portfolio and its 17th-largest holding.
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In American Express, Severin acquired 1,557 shares (~$471,000); Evolution Wealth Management expanded its Amex stake by 6,600% to 67 shares, and institutional ownership of Amex sits at about 84.33%.
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Caterpillar continues to attract broad institutional interest even as Severin trimmed its own stake; Vanguard, State Street, Geode Capital Management, Fisher Asset Management and Bank of America all boosted their CAT holdings.
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Severin added to its SPDR Gold Shares position with 1,426 shares (~$613,000); GLD also drew new stakes from WPG Advisers, Timmons Wealth Management, Chapman Financial Group, Vestwell Advisors and Eukles Asset Management, with institutional ownership at about 42.19%.
Severin Investments LLC made a flurry of moves in the first quarter, opening new stakes in IMAX and American Express while boosting its position in Union Pacific and gold. The boutique asset manager bought 14,939 shares of IMAX worth roughly $568,000 and 1,557 shares of American Express valued at about $471,000, according to Watchlist News.
At the same time, Severin expanded its Union Pacific holding by 3,561 shares, bringing its total to 5,138 shares worth about $1.25 million. It also trimmed its Caterpillar stake by 30.7%, selling 582 shares and cutting its position to 1,316 shares worth roughly $932,000, per Watchlist News.
New IMAX and Amex Bets Signal Premium Consumer Play
Severin's new IMAX position puts the firm alongside a growing crowd of institutional buyers. Pier Capital now holds 244,589 IMAX shares after adding 112,397 in the quarter. Citi boosted its stake to 66,769 shares. Divisadero Street Capital Management and Hedges Asset Management each opened fresh positions, according to Watchlist News.
The American Express buy comes as institutional ownership of Amex sits at about 84.33%, a sign of heavy "smart money" interest. Evolution Wealth Management made a dramatic move of its own, growing its Amex stake by 6,600% — though it still holds just 67 shares total. Amex's affluent customer base is seen as more resilient to inflation than those of traditional banks.
Union Pacific Becomes Severin's 17th-Largest Holding
Severin added 3,561 shares of Union Pacific during the quarter, making UNP about 1.1% of its portfolio. The railroad now ranks as the firm's 17th-largest holding. The move suggests confidence in the railroad's turnaround under CEO Jim Vena, who has focused on operational efficiency and safety since returning to lead the company.
Analysts see Union Pacific's volume trends as a leading indicator for industrial health in the western US trade corridor. Severin's choice of UNP over eastern rail competitors may also reflect concern about derailments and regulatory pressure that have hit eastern routes in recent quarters, according to Ticker Report.
Severin Cuts Caterpillar Even as Vanguard and State Street Buy More
Severin's 30.7% cut to its Caterpillar position stands out against the broader trend. Vanguard, State Street, Geode Capital Management, Fisher Asset Management, and Bank of America all boosted their CAT holdings during the same period, per Watchlist News. Severin is now left with 1,316 shares worth about $932,000.
The trim looks like profit-taking after CAT hit historical highs during the 2024–2025 industrial rally. Severin appears to have rotated that capital into cheaper plays like American Express. The firm is not exiting industrials entirely — it still holds nearly $1 million in CAT — but its conviction there has clearly faded.
Gold Purchase Joins a Broad Rush Into SPDR Shares
Severin added 1,426 shares of SPDR Gold Shares (GLD), worth about $613,000. It was not alone. WPG Advisers, Timmons Wealth Management, Chapman Financial Group, Vestwell Advisors, and Eukles Asset Management all opened new GLD positions in the same quarter, per Ticker Report. Institutional ownership of GLD now stands at roughly 42.19%.
The gold buying reflects a wider hedge against geopolitical risk in Europe and the Middle East. Smaller wealth managers are increasingly treating GLD as a permanent 3–5% portfolio allocation rather than a short-term trade. For Severin, the position adds a defensive anchor to balance its growth bets in IMAX and American Express.
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