Portfolio Makeover: Utility Stock Trimmed by Large Institutional Manager. Is It Time to Sell?
Key Points
Sold 31,364 shares of Ameren, an estimated $3.13 million trade based on the average price for Q3 2025
Transaction represents a 1.67% change in 13F reportable assets under management for the quarter.
Post-trade stake: 22,356 shares, valued at $2.31 million as of September 30, 2025
The position now accounts for 1.23% of fund AUM, placing it outside the top five holdings
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Ausbil Investment Management Ltd disclosed a sale of 31,364 shares of Ameren Corporation (NYSE:AEE) estimated at $3.13 million based on the average price for Q3 2025, according to an SEC filing dated October 08, 2025.
What Happened
According to a filing with the U.S. Securities and Exchange Commission dated October 08, 2025, Ausbil Investment Management Ltd reduced its holdings in Ameren Corporation by 31,364 shares during the quarter. The estimated value of the shares sold was $3.13 million, based on the average closing price for the quarter ended September 30, 2025. The fund now holds 22,356 shares, worth $2.31 million as of September 30, 2025.
What Else to Know
Following the sale, Ameren represents 1.23% of Ausbil’s U.S. equity portfolio, down from 3.0% of AUM in the prior quarter.
Top holdings after the filing:
- NYSE:NEE: $11.04 million (5.9% of AUM) as of September 30, 2025
- NYSE:NSC: $10.08 million (5.4% of AUM) as of September 30, 2025
- NASDAQ:CSX: $10.06 million (5.4% of AUM) as of September 30, 2025
- NYSE:LNG: $7.71 million (4.1% of AUM) as of September 30, 2025
- NYSE:ES: $7.32 million (3.9% of AUM) as of September 30, 2025
As of October 08, 2025, Ameren shares were priced at $103.70, up 19.5% for the year through October 8, 2025, outperforming the S&P 500 by 3.95 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-10-08) | $103.70 |
| Market Capitalization | $28.04 billion |
| Revenue (TTM) | $8.43 billion |
| Net Income (TTM) | $1.23 billion |
Company Snapshot
Provides regulated electric generation, transmission, and distribution services, as well as natural gas distribution and transmission, primarily through subsidiaries Ameren Missouri and Ameren Illinois.
Ameren Corporation operates under a rate-regulated utility model, generating revenue from the sale and delivery of electricity and natural gas to residential, commercial, and industrial customers.
The company serves a diverse customer base across Missouri and Illinois, including households, businesses, and large industrial clients.
Ameren Corporation is a U.S. regulated utility holding company delivering electric and natural gas services to customers. The company operates under a rate-regulated business model. Ameren's generation portfolio includes coal, nuclear, natural gas, hydroelectric, wind, methane, and solar.
Foolish Take
Ausbil, a leading Australian investment management firm, recently sold more than half its stake in Ameren, an electric and natural gas utility operating across Illinois and Missouri. The firm reduced its position by more than 30,000 shares, equating to a sale of more than $3 million.
While a $3 million sale is nothing to sneeze at, average investors need to put this sale into context. First, Ameren shares have advanced by nearly 20% over the last 12 months, which is quite an impressive return for a utility. Indeed, shares of Ameren have even modestly outperformed the S&P 500 by a few percentage points over that period.
Therefore, it's reasonable to assume Ausbil's sale of shares is profit taking -- a savvy form of portfolio and risk management -- rather than a change in sentiment.
Moreover, the firm has retained more than 22,000 shares of Ameren, worth about $2.3 million, representing 1.2% of its overall portfolio. In other words, we can deduce that Ausbil appears to retain a positive outlook on the company.
In summary, this sale looks like portfolio churn; investors shouldn't make any moves solely based on this news.
Glossary
13F reportable assets: Securities that institutional investment managers must report quarterly to the SEC, showing their holdings.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm.
Rate-regulated utility: A utility whose prices for services are set and overseen by government regulators to ensure fair rates.
Holding company: A company that owns controlling interests in other companies, usually to manage or oversee their operations.
Portfolio: A collection of financial assets, such as stocks and bonds, held by an investor or fund.
Stake: The ownership interest or share that an investor or fund holds in a company.
Quarter (Q3 2025): A three-month period in a company’s financial year; Q3 refers to July–September.
Outperforming: Achieving better returns or performance compared to a specific benchmark or index.
Subsidiaries: Companies controlled by a parent company, often operating in related or supporting businesses.
Generation portfolio: The mix of energy sources a utility uses to produce electricity, such as coal, nuclear, or renewables.
Transmission: The process of transporting electricity or natural gas over long distances from producers to distribution networks.
TTM: The 12-month period ending with the most recent quarterly report.
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Jake Lerch has positions in Norfolk Southern. The Motley Fool has positions in and recommends Cheniere Energy and NextEra Energy. The Motley Fool has a disclosure policy.
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