New England Research Dumps 5,293 Goldman Sachs Shares for $3.9 Million

On October 6, 2025, New England Research & Management, Inc. disclosed selling 5,293 shares of Goldman Sachs Group (NYSE:GS), an estimated $3.92 million trade based on the average quarterly price.

What happened

According to a filing with the Securities and Exchange Commission dated October 6, 2025, New England Research & Management, Inc. trimmed its position in Goldman Sachs, selling 5,293 shares during the quarter. The trade was valued at an estimated $3,922,148, and the firm retained 1,501 shares at the end of the quarter.

What else to know

This was a reduction in the Goldman Sachs stake, which now represents 0.5490% of the fund’s reportable assets under management.

The top holdings after the filing include:

• NASDAQ:GOOGL: $12.22 million (5.6% of AUM) as of September 30, 2025
• NASDAQ:AAPL: $9.55 million (4.4% of AUM) as of September 30, 2025
• NYSE:URI: $7.42 million (3.4% of AUM) as of September 30, 2025
• NASDAQ:MSFT: $6.54 million (3.0% of AUM) as of September 30, 2025
• NASDAQ:AMZN: $5.64 million (2.6% of AUM) as of September 30, 2025

As of October 3, 2025, shares were priced at $789.98, up 62.51% over the year through October 3, 2025 and outperforming the S&P 500 by 46.2 percentage points during the same period.

Company Overview

Company Snapshot

Goldman Sachs Group offers investment banking, global markets trading, asset management, and consumer and wealth management services, generating revenue from advisory fees, trading, asset management, and lending activities.

The company operates a diversified business model focused on fee-based advisory, underwriting, and trading, as well as recurring asset and wealth management income streams.

It serves corporations, financial institutions, governments, and individuals worldwide and is a leading global financial institution with a broad platform spanning investment banking, trading, and asset management. The company provides diversified revenue streams and maintains a strong advisory presence.

Foolish take

Goldman Sachs has had a strong performance so far this year, but macro forces outside of its control will likely shape its future. Lower interest rates and deregulation across the industry may play in the company's favor going forward, but general economic uncertainty and constantly shifting regulatory developments are risk factors to consider.

Glossary

Form 13F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
Assets Under Management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Reportable Assets: Investments that must be disclosed in regulatory filings, such as those required by the SEC.
Quarter-end: The last day of a fiscal quarter, used for reporting and valuation purposes.
Top Holdings: The largest investments in a fund or portfolio, typically ranked by market value.
Dividend Yield: Annual dividends per share divided by the share price, shown as a percentage.
Outperforming: Achieving a higher return than a benchmark or comparison index over a specific period.
Advisory Fees: Charges paid to investment managers for providing financial advice or portfolio management.
Underwriting: The process by which investment banks raise capital for clients by issuing securities.
Asset Management: Professional management of investments such as stocks, bonds, and other assets for clients.
Wealth Management: Comprehensive financial services for individuals, including investment, estate, and tax planning.
TTM: The 12-month period ending with the most recent quarterly report.

Katie Brockman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Goldman Sachs Group, and Microsoft. The Motley Fool 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.