London Co of Virginia Sells 37,000 NewMarket Shares in $28 Million Trade
Key Points
Sold 36,512 shares of NewMarket; estimated transaction value of $27.88 million based on quarterly average price.
Quarter-end NEU stake value fell by $99.71 million, reflecting valuation change from both trading and stock-price movement.
Transaction represented a 0.16% shift in 13F reportable assets under management (AUM).
Held 492,820 shares worth $338.71 million after the trade.
Position now represents 1.95% of fund AUM, placing it outside the fund's top five holdings.
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On February 17, 2026, London Co of Virginia disclosed a sale of 36,512 shares of NewMarket (NYSE:NEU), an estimated $27.88 million trade based on quarterly average pricing.
What happened
According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, London Co of Virginia reduced its holdings in NewMarket by 36,512 shares. The estimated transaction value, based on the average closing price during the fourth quarter of 2025, was $27.88 million. At quarter end, the fund reported holding 492,820 shares valued at $338.71 million, with the position’s quarter-end value reflecting a $99.71 million decrease due to both trading and price changes.
What else to know
- The fund continued to trim its NEU holding, which now accounts for 1.95% of its 13F reportable AUM.
- Top holdings after the filing:
- NASDAQ: AAPL: $656.77 million (3.8% of AUM)
- NYSE: NSC: $522.8 million (3.0% of AUM)
- NYSE: GLW: $509.9 million (2.9% of AUM)
- NYSE: BRK-B: $500.85 million (2.9% of AUM)
- NYSE: BLK: $451.6 million (2.6% of AUM)
- As of February 13, 2026, NEU shares were priced at $592.80, up 10.1% over one year, underperforming the S&P 500 by 1.68 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close February 13, 2026) | $592.80 |
| Market capitalization | $5.56 billion |
| Revenue (TTM) | $2.73 billion |
| Net income (TTM) | $418.75 million |
Company snapshot
- Offers petroleum additives, lubricant additives, fuel additives, and antiknock compounds for automotive, industrial, and marine applications
- Generates revenue primarily through the sale of specialty chemical additives used in lubricants and fuels, with additional income from contracted manufacturing and property management
- Serves a diversified customer base including oil refiners, original equipment manufacturers, government entities, and industrial clients worldwide
NewMarket operates in the specialty chemicals sector, focusing on petroleum additives that enhance the performance and longevity of lubricants and fuels. Founded in 1887, it operates internationally in North America, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and India, serving the automotive, industrial, and energy markets. The company reported trailing twelve-month net income of $418.75 million and offers a diversified product portfolio including lubricant additives, fuel additives, and antiknock compounds across several regions.
What this transaction means for investors
London Co of Virginia trimmed most of its portfolio this quarter, cutting positions across the board rather than singling out specific stocks. This looks more like portfolio rebalancing or managing client redemptions than making specific calls on individual companies.
NewMarket makes petroleum additives through its Afton Chemical subsidiary. In 2025, the company earned $419 million on $2.7 billion in revenue, but both declined from record 2024 levels. The stock nearly matched the S&P 500’s return over the past year, and the company raised its dividend despite falling earnings thanks to strong cash flow and low debt.
NewMarket is a good fit for investors comfortable with cyclical industrial exposure who value dividend income and aren't chasing rapid growth. The business won't suddenly double, but it generates consistent cash even when volumes dip. The risk is that petroleum additives face long-term headwinds as electric vehicles gain share and regulations push for cleaner fuels. If you're betting on continued internal combustion engine demand globally, NewMarket offers a steady play. If electric vehicles take off faster than expected, these volume drops could become permanent.
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Sara Appino has positions in Apple. The Motley Fool has positions in and recommends Apple and Corning and is short shares of Apple. The Motley Fool recommends BlackRock. The Motley Fool has a disclosure policy.
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