CalSTRS Portfolio Adjustments
California Teachers' Retirement System Trims Holdings in Five Key Stocks During First Quarter
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Key Points
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Parker-Hannifin remains highly owned by institutions (82.44%), even as CTS trimmed its stake. Norges Bank opened a new position in Parker-Hannifin in Q4 valued at about $1.76 billion, highlighting continued heavy institutional interest alongside CTS's modest cut.
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Analogue Devices shows a very high level of institutional ownership (86.81%). In addition to CTS’s sale, other funds increased positions or took new stakes, including ING Groep NV (+45.1% to 222,559 shares), Covenant Asset Management (new stake), HF Advisory Group (+661.6% to 49,693 shares), and MGO One Seven LLC (+6,846 shares).
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Newmont remains dominated by institutions (68.85% ownership). Top holders include Vanguard Group (134,107,293 shares, up 0.5%), State Street (49,959,850), Van ECK (29,780,063, up 23.4%), and Geode Capital (27,011,084). Norges Bank opened a new Q4 position valued at about $1.44 billion.
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Gilead Sciences saw CFO Andrew D. Dickinson sell 3,000 shares (June 15), leaving the CFO with about 171,646 shares valued at roughly $21.52 million; overall 83.67% of Gilead’s stock is owned by institutional investors.
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Amgen Inc. saw SVP Nancy A. Grygiel sell 1,237 shares (May 4); institutional investors own about 76.50% of Amgen’s stock, underscoring broad institutional ownership alongside major holders like Norges Bank and Amundi.
The California State Teachers' Retirement System (CalSTRS) trimmed its stakes in five major companies during the first quarter, cutting positions in Parker-Hannifin, Analog Devices, Newmont, Gilead Sciences, and Amgen, according to Watchlist News. The reductions ranged from 2.1% to 3.0%, but the fund still holds hundreds of millions of dollars in each company.
The moves are modest, not dramatic exits. CalSTRS remains a major holder in all five stocks, with positions valued from roughly $170 million to $290 million. Institutions still dominate ownership across every name on the list.
CalSTRS Cuts Parker-Hannifin and Analog Devices Positions
In Parker-Hannifin, CalSTRS reduced its stake by 2.7%, leaving it with about 190,787 shares worth roughly $170.8 million, according to Watchlist News. Institutions still own 82.44% of the company. Norges Bank opened a brand-new position in Parker-Hannifin last quarter valued at about $1.76 billion, showing that big money is still flowing in even as CalSTRS pulled back slightly.
In Analog Devices, CalSTRS cut its position by 3.0% to 754,564 shares worth about $240.1 million. Institutional ownership stands at 86.81% — one of the highest levels among the five stocks. Several funds actually added shares during the same period. ING Groep NV grew its stake by 45.1% to 222,559 shares. HF Advisory Group surged 661.6% to 49,693 shares. CEO Vincent Roche also sold 30,000 shares in a separate transaction.
Newmont Trim Comes as Giant Institutions Load Up
CalSTRS cut its Newmont holding by 2.6% to 1,704,667 shares, valued at around $184.5 million, per Watchlist News. Despite the trim, institutions own 68.85% of the gold miner. Vanguard Group holds 134,107,293 shares — the largest single position — up 0.5% from the prior quarter. State Street holds nearly 50 million shares.
Van Eck grew its Newmont stake by 23.4% to 29,780,063 shares. Norges Bank opened a new position last quarter worth about $1.44 billion. These moves show that while CalSTRS is trimming, other large funds are building. Geode Capital also holds 27,011,084 shares in the company.
Insider Sales Hit Gilead and Amgen Alongside Fund Cuts
CalSTRS reduced its Gilead Sciences stake by 2.1% to 1,914,292 shares worth about $266.8 million, according to Watchlist News. At the same time, CFO Andrew D. Dickinson sold 3,000 shares on June 15. That leaves Dickinson with roughly 171,646 shares valued at about $21.52 million. Institutional investors own 83.67% of Gilead's stock overall.
At Amgen, CalSTRS cut 2.4% of its position, leaving 825,116 shares worth about $290.3 million — its largest remaining holding among the five. Senior Vice President Nancy A. Grygiel sold 1,237 shares on May 4. Institutions own about 76.50% of Amgen. Major holders include Norges Bank and Amundi. These insider sales are small relative to total holdings, but they run in the same direction as CalSTRS's trim.
Small Cuts, But CalSTRS Still Holds Billions in Big Names
Across all five stocks, CalSTRS's reductions are small — none exceeded 3.0%. The fund still holds a combined position worth well over $1 billion in just these five names. Each company remains heavily owned by institutions, which limits the market impact of any single fund's modest trimming.
The pattern here is routine portfolio management, not a signal of alarm. Large pension funds like CalSTRS regularly rebalance each quarter. Meanwhile, other institutions are actively adding to the same stocks, keeping overall institutional ownership levels high across Parker-Hannifin, Analog Devices, Newmont, Gilead, and Amgen.
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