Big Money Exits: Fintech Stock Down 39% Year-To-Date Gets Cut by Investment Manager, According to Recent Filing
Key Points
Sold 85,372 shares of Fiserv, with an estimated transaction value of $12.23 million
Post-trade holding: 841 shares valued at $108,430 as of September 30, 2025
Fiserv now accounts for 0.01% of fund AUM as of September 30, 2025, well outside the fund's top five holdings
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American National Bank & Trust reported selling Fiserv (NYSE:FI)shares valued at an estimated $12.23 million in Q3 2025, according to a quarterly SEC filing dated October 21, 2025.
What Happened
According to a quarterly Form 13F filed with the U.S. Securities and Exchange Commission on October 21, 2025, American National Bank & Trust reduced its position in Fiserv by 85,372 shares during Q3 2025, leaving it with 841 shares at quarter-end. The transaction was valued at an estimated $12.23 million.
What Else to Know
Sell action: Fiserv now represents 0.01% of the fund's $1.01 billion 13F reportable AUM as of September 30, 2025
Top holdings after the filing:
- NASDAQ:GOOGL: $62.42 million (6.2% of AUM) as of September 30, 2025
- NASDAQ:MSFT: $51.23 million (5.1% of AUM) as of September 30, 2025
- NASDAQ:AAPL: $50.59 million (5.0% of AUM) as of September 30, 2025
- NASDAQ:AMZN: $43.06 million (4.2% of AUM) as of September 30, 2025
- NASDAQ:AVGO: $37.22 million (3.7% of AUM) as of September 30, 2025
As of October 20, 2025, shares were priced at $124.14, down 37.04% over the past year.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $21.11 billion |
| Net Income (TTM) | $3.40 billion |
| Price (as of market close 10/20/25) | $124.14 |
| One-Year Price Change | -37.04% |
Company Snapshot
Fiserv provides payment and financial technology solutions to businesses and financial institutions worldwide. The company's scale and diversified service offerings across payment acceptance, fintech, and digital payments enable it to address a broad range of client needs in a rapidly evolving digital landscape.
The company offers payment processing, merchant acquiring, digital commerce, card services, and cloud-based point-of-sale platforms across Acceptance, Fintech, and Payments segments. It generates revenue through transaction fees, software and platform subscriptions, and value-added financial technology services for businesses and financial institutions.
Fiserv serves merchants, banks, credit unions, and corporate clients seeking integrated payment and financial technology solutions worldwide.
Foolish Take
The recent sale of 85,000 shares of Fiserv by American National Bank comes at a critical time for the fintech giant. Shares of Fiserv have slipped recently, and some investors, like American National Bank, appear to be looking for the exit. Here's what retail investors need to know.
Fiserv stock is near the bottom of its 52-week range, which signals that investors have lost confidence in the company. There are several items weighing on Fiserv, including a class-action lawsuit, a high amount of debt, and recent bearish analyst notes. In addition, the company is set to report earnings on October 29.
American National Bank's recent sale -- which represented an almost total liquidation of the firm's holdings of Fiserv -- demonstrates that some institutions are moving on from Fiserv, given its poor recent stock performance. Shares of the company are down 39% year-to-date.
For retail investors, institutional buys or sells should never be the only reason to buy or sell a stock. However, they can be a great starting point for average investors to build their own thesis about how a stock is performing.
In this case, Fiserv's ongoing legal troubles, combined with its high debt, and negative analyst sentiment spell out a compelling bear case for the stock. Retail investors should take note.
Glossary
13F reportable AUM: Assets under management that must be disclosed in quarterly SEC Form 13F filings by institutional investment managers.
Form 13F: A quarterly SEC filing required from institutional investment managers to disclose their equity holdings.
Quarterly SEC filing: A report submitted to the Securities and Exchange Commission every three months detailing financial or ownership information.
Transaction value: The total dollar amount received or paid in a specific buy or sell action.
Post-trade holding: The number of shares or value of an investment remaining after a transaction is completed.
AUM (Assets Under Management): The total market value of investments managed on behalf of clients by a financial institution or fund.
Top holdings: The largest investments by value within a fund or portfolio.
Merchant acquiring: Services that enable businesses to accept credit and debit card payments from customers.
Point-of-sale (POS) platforms: Systems that process sales transactions at retail locations, often including hardware and software.
Fintech: Technology-driven solutions and services for financial transactions, banking, or investing.
Value-added financial technology services: Additional technology-based services that enhance core financial products for clients.
TTM: The 12-month period ending with the most recent quarterly report.
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Jake Lerch has positions in Alphabet and Amazon. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, and Microsoft. 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.
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