Investment Manager Sheds 2.4 Million Shares of Utility Stock, According to Recent SEC Filing
Key Points
Sold 2,444,158 shares of Portland General Electric, estimated at ~$115.43 million based on quarterly average price
Quarter-end position value fell by $99.81 million, reflecting both trading activity and stock price movements
Trade accounted for a 5.79% shift in reported 13F AUM
Fund now holds 1,938,334 shares worth $93.02 million
Portland General Electric now represents 4.66% of AUM, placing it outside the fund’s top five holdings
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On Feb. 17, 2026, ATLAS Infrastructure Partners (UK) Ltd. disclosed in an SEC filing that it sold 2,444,158 shares of Portland General Electric (NYSE:POR), an estimated $115.43 million trade based on the quarterly average price.
What happened
According to an SEC filing dated Feb. 17, 2026, ATLAS Infrastructure Partners (UK) Ltd. sold 2,444,158 shares of Portland General Electric during the fourth quarter. The estimated transaction value was $115.43 million, calculated using the period’s average closing price. The fund’s quarter-end position value decreased by $99.81 million, reflecting the combined impact of share sales and price fluctuations.
What else to know
Following the sale, Portland General Electric represents 4.66% of the fund’s 13F AUM, down from 10.36% in the previous quarter.
Top holdings after the filing:
- NYSE:PNW: $395.71 million (19.84% of AUM)
- NYSE:EMA: $289.29 million (14.51% of AUM)
- NYSE:ED: $282.21 million (14.15% of AUM)
- NYSE:PEG: $234.04 million (11.74% of AUM)
- NYSE:EIX: $234.01 million (11.73% of AUM)
As of March 19, 2026, shares were priced at $52.25, up 23.38% over the past year, outperforming the S&P 500 by 3.90 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.37 billion |
| Net income (TTM) | $306.00 million |
| Dividend yield | 4.02% |
| Price (as of market close March 19, 2026) | $52.25 |
Company snapshot
- Provides electricity generation, transmission, distribution, and retail sales, operates thermal, wind, and hydroelectric facilities, and engages in wholesale natural gas transactions.
- Generates revenue primarily through regulated electric utility operations, selling power to residential, commercial, and industrial customers under long-term rate structures.
- Serves approximately 917,000 customers across 51 cities in Oregon, focusing on residential, commercial, and industrial segments.
Portland General Electric supplies regulated power and steady dividends to nearly one million Oregon customers with a diverse energy mix. The company is a vertically integrated regulated utility with a significant presence in Oregon's electricity market. It leverages a diverse generation portfolio and an extensive transmission and distribution network to deliver reliable power. Its regulated business model provides stable cash flows and supports a consistent dividend, positioning the company as a core infrastructure provider in its region.
What this transaction means for investors
The recent sale by Atlas Infrastructure Partners of more than 2.4 million shares of Portland General Electric stock, an electric utility, resulted in a net decrease of approximately $100 million in Atlas’ position in the stock. Here’s what investors should know about this sale.
First off, Portland General stock has performed quite well over the last year. Shares have advanced by about 23%. Even on a year-to-date basis, the stock has remained hot. Portland General stock is up about 9% year-to-date, while the S&P 500 has lost about 3% so far this year.
As for the transaction itself, Atlas has retained a significant stake. As of the end of the fourth quarter (the three months ending on Dec. 31, 2025), it still holds over 1.9 million shares of Portland General, valued at about $93 million. In other words, this was no fire sale. Indeed, it could be argued that Atlas was simply taking profits in a stock that has enjoyed a solid run.
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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool recommends Emera. The Motley Fool has a disclosure policy.
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