Oldfield Partners Keeps Adding to Its 2nd-Largest Position in Lear Stock (LEA)
Key Points
Oldfield added 33,313 shares of Lear, in an estimated $3.56 million trade based on quarterly average price.
The fund's quarter-end position value rose by $12.37 million, reflecting both trading and price appreciation.
The transaction represented a 1.01% increase as a share of Oldfield Partners LLP’s 13F assets under management.
Post-trade, the fund holds 644,286 shares valued at $73.84 million.
Lear now accounts for 20.93% of fund AUM, making it the fund’s second largest holding.
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On Jan. 9, 2026, Oldfield Partners LLP disclosed a buy of 33,313 shares of Lear (NYSE:LEA), an estimated $3.56 million trade based on quarterly average pricing.
What happened
According to a Jan. 9, 2026, SEC filing, Oldfield bought 33,313 additional shares of Lear during the fourth quarter. The value of the fund’s Lear position at quarter-end increased by $12.37 million, a figure reflecting both the share price increase and the impact of stock price changes.
What else to know
Lear now represents 20.93% of Oldfield’s 13F assets under management.
Top holdings after the filing:
- NOV Inc.: $78.9 million (22.4% of AUM)
- Lear: $73.8 million (20.9% of AUM)
- The Walt Disney Company: $57.4 million (16.3% of AUM)
- Chubb Limited: $55 million (15.6% of AUM)
- Arrow Electronics Inc.: $40.4 million (11.5% of AUM)
As of Jan. 9, 2026, Lear shares were priced at $124.42, up 34% over the past year, outperforming the S&P 500 by 16 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $23 billion |
| Net income (TTM) | $535.3 million |
| Dividend yield | 2.48% |
| Price (as of market close Jan. 9, 2026) | $126.15 |
Company snapshot
Lear:
- Designs and manufactures automotive seating systems, electrical distribution systems, and related components for original equipment manufacturers globally.
- Generates revenue primarily through the sale of seating and E-Systems products to automotive manufacturers.
- Serves major global automotive OEMs across North America, Europe, Asia, and South America, targeting passenger vehicles, light trucks, and SUVs.
Lear is a leading global supplier of automotive seating and electrical systems, with a broad customer base among major vehicle manufacturers. The company leverages its extensive engineering expertise and manufacturing scale to deliver integrated solutions that support evolving automotive technologies. Its diversified product portfolio and global presence position it competitively within the automotive supply chain.
What this transaction means for investors
While Oldfield's latest purchase of Lear is overshadowed by the firm's initial 600,000 purchase of the stock in the first quarter of 2025, I'd argue that it is still noteworthy for investors. First, Oldfield's latest purchase occurred after Lear's share price rose by over 30% last year. To me, this continued buying at a higher price suggests that the fund still believes the best is yet to come for the stock.
Said another way, even after the stock's rise, Lear may still be relatively inexpensive, trading with an EV-to-EBITDA ratio of just 5.6 and a price-to-sales ratio of only 0.29. These figures are well below the company's five-year averages of 7.3 and 0.38. While Lear won't be confused for a growth stock anytime soon, it is a leader in automotive seating and electrical distribution systems. It also counts many burgeoning Chinese electric vehicle manufacturers as customers, giving it a strong potential pipeline for growth.
Growing its dividend by 12% annually over the last five years, while lowering its share count by 3% each year during the same period, the company handsomely rewards shareholders with its cash generation. Ultimately, Lear's cyclicality keeps me at bay from investing, but I can certainly see Oldfield's reasoning behind adding more to the niche leader.
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Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool recommends Southwest Airlines. The Motley Fool has a disclosure policy.
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