Graphene Investments Liquidates Its $3.1 Million United Rentals Stake

Graphene Investments SAS fully exited its stake in United Rentals (NYSE:URI) in Q3 2025, selling approximately 4,100 shares for an estimated $3.09 million for the period ended 2025-09-30, according to its October 7, 2025, SEC filing.

What happened

According to a filing with the United States Securities and Exchange Commission (SEC) dated October 7, 2025, Graphene Investments SAS sold out its entire holding in United Rentals during the third quarter. The firm’s liquidation involved approximately 4,100 shares as of 2025-09-30, with the estimated transaction value totaling $3.09 million based on average prices for the period.

What else to know

Graphene Investments SAS fully liquidated its United Rentals position, which previously made up 2.0% of reported assets; it now represents 0% of 13F AUM.

Top holdings after the filing:

• GOOGL: $9.36 million (5.9% of AUM) as of 2025-09-30
• AAPL: $7.49 million (4.7% of AUM) as of 2025-09-30
• MSFT: $6.53 million (4.1% of AUM) as of 2025-09-30
• NVDA: $6.49 million (4.1% of AUM) as of 2025-09-30
• AVGO: $5.67 million (3.6% of AUM) as of 2025-09-30

As of October 6, 2025, shares of United Rentals were priced at $987.34, up 23.07% over the past year, outperforming the S&P 500 by 7.95 percentage points over the past year.

Company Overview

Company Snapshot

United Rentals:

• Offers equipment rentals, including general construction, industrial equipment, specialty trench safety, power, HVAC, fluid solutions, and mobile storage products.
• Generates revenue primarily through rental fees, equipment sales, and value-added services such as maintenance and parts distribution.
• Serves construction and industrial companies, infrastructure contractors, municipalities, utilities, and government entities across North America, Europe, Australia, and New Zealand.
• Operates a network of 1,360 locations, employing approximately 27,900 people.

The company’s scale and diversified fleet enable it to serve a broad customer base across multiple end markets, supporting both large-scale infrastructure projects and day-to-day industrial needs.

Foolish take

While it may seem jarring that Graphene Investments liquidated its position in United Rentals -- a stock it had held for years -- it is worth noting that the stock was up 75% in the last six months alone.

Following the run, United Rentals' price-to-earnings (P/E) ratio of 26 was near 10-year highs, and well above its average of 15 over the same time.

For some institutions, it may make sense to part ways with a stock once it reaches these higher valuations.

However, from a longer-term Foolish perspective, I think there is still a lot to like about United Rentals -- but you might not want to go "all-in" at today's price.

A serial acquirer with a long track record of success, the stock has delivered total returns of nearly 6,900% since its debut in 1997. This far outpaces the S&P 500's returns of 1,040% over the same time.

In addition to its spending on M&A, United Rentals started paying a dividend in 2023 and has already raised its payments twice. It currently yields 0.7%, but only uses 18% of the company's net income, giving it plenty of room for future increases.

The company has also rewarded shareholders with hefty share repurchases that have lowered United Rentals' share count by 4% annually over the last decade.

Growing revenue and net income by 19% and 24% annually over the last decade, United Rentals should be on investors' radars, even with its lofty valuation.

Glossary

13F AUM: The total market value of assets reported by institutional investment managers in their quarterly SEC Form 13F filings.
Liquidation: The process of selling all holdings in a particular asset or position, reducing the stake to zero.
Position: The amount of a particular security or asset held by an investor or fund.
Stake: The ownership interest or number of shares an investor holds in a company.
Filing: An official document submitted to a regulatory agency, such as the SEC, disclosing financial or investment information.
Outperforming: Achieving a higher return or better performance compared to a benchmark or index.
End markets: The industries or customer segments that ultimately use a company's products or services.
Trench safety: Specialized equipment and services designed to protect workers in excavations and trenches.
HVAC: Heating, ventilation, and air conditioning systems used for climate control in buildings and industrial settings.
Value-added services: Additional offerings beyond core products, such as maintenance or parts distribution, that enhance customer value.
TTM: The 12-month period ending with the most recent quarterly report.

Josh Kohn-Lindquist has positions in Alphabet and Nvidia. The Motley Fool has positions in and recommends Alphabet, Apple, Microsoft, and Nvidia. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.