Lombard Odier's Portfolio Moves
Lombard Odier Adjusts Portfolio, Sells MasTec and Vertiv, Boosts ServiceNow Stake
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Key Points
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Ernst N. Csiszar sold 6,500 MasTec shares at an average price of $371.17, totaling $2,412,605; after the sale he owned 10,816 shares, valued at about $4,014,574.72, a 37.54% decrease in his position.
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Institutional investors and hedge funds own 78.10% of MasTec stock, highlighting the high level of institutional ownership in the company.
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Lombard Odier lifted its ServiceNow stake by 104.9% to 99,813 shares, after purchasing an additional 51,108 shares during the first quarter, with the position valued at about $10.435 million.
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In ServiceNow, Covenant Asset Management increased its stake by 169.2% to 20,863 shares; Norges Bank opened a new position in the fourth quarter valued at roughly $2.021 billion; World Investment Advisors boosted its holding to 47,955 shares (a 411.7% rise).
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Vertiv Holdings: Lombard Odier reduced its stake by 83.3% to 15,950 shares; Vertiv’s management raised its 2026 guidance for revenue, adjusted operating profit, adjusted EPS, operating margin and free cash flow, supported by a roughly $15 billion backlog and durable AI data-center demand.
Lombard Odier Asset Management Europe Ltd cut its MasTec stake by 31.4% in the first quarter, selling 8,886 shares, according to Watchlist News. The firm's remaining position stood at roughly 19,400 shares after the trim.
Separately, MasTec director Ernst N. Csiszar sold 6,500 shares at an average price of $371.17 each, totaling $2,412,605. After the sale, Csiszar held 10,816 shares worth about $4 million — a 37.54% drop in his position.
Lombard Odier Slashes Several Major Holdings at Once
The Q1 portfolio moves went well beyond MasTec. Lombard Odier cut its Vertiv Holdings stake by 83.3%, selling 79,600 shares and leaving just 15,950 remaining, according to Watchlist News. It also slashed its Danaher position by 54.5%, leaving just 26,109 shares. Stryker fell 18.2% to 8,175 shares after the firm sold 1,825, per Ticker Report.
The firm also trimmed its Birkenstock stake by 47.6%, selling 132,380 shares, and reduced its Crown Holdings position by 31.7% to 164,707 shares. Visa saw a 45.3% cut, with 9,146 shares sold. The moves signal a broad pullback across multiple sectors in the quarter.
ServiceNow Bet More Than Doubles in One Quarter
Not every move was a sell. Lombard Odier more than doubled its ServiceNow stake, buying an additional 51,108 shares in Q1. That brought its total to 99,813 shares, valued at about $10.4 million, according to Watchlist News. The 104.9% increase was the firm's biggest bet of the quarter.
Other investors piled into ServiceNow too. Covenant Asset Management grew its stake by 169.2% to 20,863 shares. World Investment Advisors surged 411.7% to 47,955 shares. Norway's Norges Bank opened a brand-new position worth roughly $2.02 billion in the fourth quarter. ServiceNow is drawing serious attention from big money.
MasTec Still Dominated by Big Institutional Investors
Despite the selling, MasTec remains firmly in institutional hands. Hedge funds and institutional investors own 78.10% of the company's stock, according to Watchlist News. That level of ownership shows Wall Street still has a strong grip on the construction firm, even as some players trim positions.
Vertiv Raises 2026 Guidance as AI Data Center Demand Holds
Lombard Odier's big Vertiv cut came even as the company itself looks strong. Vertiv's management raised its 2026 guidance across the board — including revenue, adjusted earnings per share, operating margin, and free cash flow. The company pointed to a roughly $15 billion backlog as support for the outlook.
Demand from AI data centers remains a key driver for Vertiv. The backlog reflects durable, long-term orders tied to the build-out of computing infrastructure. Lombard Odier's 83.3% stake reduction is notable given that bullish company backdrop, suggesting a portfolio rebalancing rather than a negative view on the stock.
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