Major Institution Trims Newmont Stock After Big Run, According to Recent Filing
Key Points
Sold 56,945 shares of Newmont; transaction estimated at $3.97 million
Post-trade, the fund held 746,694 shares valued at $62.95 million as of Q3 2025
Newmont accounts for 1.35% of the fund’s 13F AUM as of Q3 2025, placing it outside the top five holdings
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Generali Asset Management disclosed a sale of 56,945 shares of Newmont Corporation (NYSE:NEM), an estimated $3.97 million trade, in its October 21, 2025, SEC filing.
What Happened
According to its SEC Form 13F filing dated October 21, 2025, Generali Asset Management reduced its position in Newmont by 56,945 shares during Q3 2025. The estimated trade value, calculated using the average closing price for the period, was $3.97 million. The fund reported holding 746,694 shares worth $62.95 million.
What Else to Know
The fund’s transaction reflects a sell; Newmont represents 1.35% of reportable U.S. equity assets under management after the trade.
Top holdings after the filing:
- NVDA: $391.67 million (8.4% of AUM) as of September 30, 2025
- MSFT: $312.52 million (6.7% of AUM) as of September 30, 2025
- GOOGL: $221.33 million (4.7% of AUM) as of September 30, 2025
- AAPL: $156.74 million (3.4% of AUM) as of September 30, 2025
- TSLA: $104.45 million (2.2% of AUM) as of September 30, 2025
As of October 20, 2025, Newmont shares were priced at $94.89, up 64.8% over the past year; shares have outperformed the S&P 500 by 56.0 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $20.48 billion |
| Net Income (TTM) | $6.27 billion |
| Dividend Yield | 1.14% |
| Price (as of market close 2025-10-20) | $94.89 |
Company Snapshot
As one of the world's largest gold producers, Newmont Corporation operates a broad portfolio of mining assets across the Americas and Australia. It produces and explores for gold as its primary product, with additional exposure to copper, silver, zinc, and lead.
The company generates revenue through the extraction, processing, and sale of precious and base metals from a diversified portfolio of global mining operations.
Newmont serves a global customer base, including metal refiners, traders, and industrial users, with operations spanning the Americas and Australia.
Foolish Take
At first blush, a sale of around $4 million worth of stock would appear to show that an institution has lost faith in a given company. However, in this case, Generali Asset Management's sale of Newmont is not all that it appears to be. Here's why.
For starters, Newmont, along with many other gold miners, has enjoyed a tremendous run over the last 12 months. Gold prices have soared, and along with them, so have the shares of gold mining stocks.
The VanEck Gold Miners ETF (GDX) is up 70% over the last 12 months, owing to the big rally in gold prices. The rise in gold prices is due to numerous factors, including central banks diversifying their holdings, geopolitical tensions, rising tariffs, and increased demand from retail investors.
Gold is enjoying its best bull run in years, with spot gold, as measured by the SPDR Gold Shares (GLD), up 50% over the last 12 months. Therefore, with gold and gold miners rallying, it's no surprise that Newmont -- one of the world's largest and most prominent gold miners -- has seen its stock rise 53% over the last 12 months.
Consequently, Generali's holdings of Newmont stock surged in value. Indeed, even after this recent sale, Newmont is the firm's 11th-largest stock holding.
In summary, this transaction, while substantial, looks like typical profit taking. Retail investors shouldn't view this as a change in sentiment by this institution. Rather, this looks like standard portfolio management.
Glossary
13F AUM: The total value of U.S. equity securities a fund must report quarterly to the SEC on Form 13F.
Reportable U.S. equity assets: U.S. stocks and related securities that an institutional investor must disclose in regulatory filings.
Under management: Refers to assets that an investment manager oversees on behalf of clients.
Top holdings: The largest investments in a fund’s portfolio, usually ranked by market value.
Outperforming: Achieving a higher return than a benchmark, such as the S&P 500 index.
Dividend yield: Annual dividend income expressed as a percentage of the current share price.
TTM: The 12-month period ending with the most recent quarterly report.
Portfolio: A collection of investments owned by an individual or institution.
Base metals: Common, non-precious metals such as copper, zinc, or lead, often used in industry.
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Jake Lerch has positions in Alphabet, Nvidia, SPDR Gold Trust, and Tesla. The Motley Fool has positions in and recommends Alphabet, Apple, Microsoft, Nvidia, and Tesla. 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.
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