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On October 17, 2025, Sapient Capital LLC disclosed a purchase of 259,392 Eli Lilly and Company (LLY -1.94%) shares, for a total transaction value of $193,028,908.

What Happened

Sapient Capital LLC increased its stake in Eli Lilly and Company by 259,392 shares during Q3 2025, according to a U.S. Securities and Exchange Commission (SEC) filing dated October 17, 2025 (SEC filing). The estimated transaction value was $193.03 million, based on the average closing price for Q3 2025. The fund now holds 1,477,879 shares worth $1.07 billion in Q3 2025.

What Else to Know

Buy activity increased the position to 16.53% of Sapient Capital’s 13F AUM in Q3 2025

Top holdings after the filing:

• LLY: $1.07 billion (16.5% of AUM) as of September 30, 2025
• APP: $906.45 million (14.0% of AUM) as of September 30, 2025
• AAPL: $346.81 million (5.3% of AUM) as of September 30, 2025
• MSFT: $313.49 million (4.8% of AUM) as of September 30, 2025
• GOOGL: $238.99 million (3.7% of AUM) as of September 30, 2025

As of October 17, 2025, shares were priced at $802.83, down 12.46% over the past year; shares have underperformed the S&P 500 by 25.79 percentage points

Company Overview

Company Snapshot

Eli Lilly and Company is a global pharmaceutical leader with a market capitalization of $722.03 billion as of October 17, 2025 and a diversified portfolio of innovative therapies. The company’s strategy centers on advancing high-impact medicines and expanding its reach through scientific innovation and partnerships. Its scale and established presence in key therapeutic areas provide advantages in the healthcare sector.

The company offers a broad portfolio of pharmaceuticals for diabetes, oncology, immunology, neuroscience, and other therapeutic areas, with leading products such as Trulicity, Humalog, Jardiance, and Taltz. It generates revenue primarily through the discovery, development, and global commercialization of branded prescription medicines, leveraging internal R&D and strategic collaborations. It treats patients with chronic and complex health conditions.

Foolish Take

This recent transaction by Sapient Capital, a private wealth advisor, is a notable institutional purchase. Here’s why.

First off, Sapient acquired over 259,000 shares of Eli Lilly, worth around $193 million. That is, of course, a great deal of money. But beyond that, the transaction makes the stock Sapient’s largest overall holding, with about $1.07 billion worth of Eli Lilly stock. In other words, Sapient is significantly increasing its already enormous stake Eli Lilly stock. That demonstrates the fund managers have a great deal of conviction that Eli Lilly stock should perform well.

Average investors may want to take note of this, particularly given Eli Lilly’s recent underperformance against major market indexes like the S&P 500. For example, Eli Lilly stock has lagged the S&P 500 year-to-date. Indeed, it has generated a total return of around 5% in 2025, while the benchmark index has generated a total return of 14%.

One potential headwind for Eli Lilly may be political pressure from Washington. President Donald Trump recently said that his administration will work to cut the cost of brand-name GLP-1s, like Eli Lilly’s Zepbound, to $150 per month — a significant decrease from the rate Eli Lilly currently offers on their direct-to-consumer site. That could cut into the company’s profits which have skyrocketed from $5 billion to nearly $14 billion thanks in part to the introduction of Zepbound in 2023.

In summary, investment advisor Sapient has made a huge bet on Eli Lilly stock, boosting its stake by ~25% and making the stock its top holding. The company’s shares have underperformed this year, and pressure from Washington is increasing for the company to lower the price of its star drug, Zepbound, which could stifle its overall profitability. All in all, it’s a mixed picture for Eli Lilly with significant uncertainty surrounding at least one of its key products.

Glossary

13F assets under management (AUM): The value of securities a fund manager reports to the SEC on Form 13F, typically U.S.-listed equities.
Position: The amount of a particular security or asset held by an investor or fund.
Trailing twelve months (TTM): The 12-month period ending with the most recent quarterly report.
Dividend yield: Annual dividends per share divided by the share price, shown as a percentage.
Forward price-to-earnings ratio: A valuation metric comparing a company’s current share price to its expected future earnings per share.
Enterprise value to EBITDA: A valuation ratio comparing a company’s total value (enterprise value) to its earnings before interest, taxes, depreciation, and amortization.
Stake: The ownership interest or share held by an investor in a company.
Holding: A security or asset owned by an investor or fund.
Buy activity: The act of purchasing additional shares or assets, increasing an investor’s or fund’s position.
Therapeutic areas: Specific categories of diseases or medical conditions targeted by pharmaceutical products.
Strategic collaborations: Partnerships between companies to achieve shared business or research goals.

Tension between Indiana University and its student newspaper flared last week with the elimination of the outlet’s print editions and the firing of a faculty advisor who refused an order to keep news stories out of a homecoming edition.

Administrators may have been hoping to minimize distractions during its homecoming weekend as the school prepared to celebrate a Hoosiers football team with its highest-ever national ranking. Instead, the controversy has entangled the school in questions about censorship and student journalists’ 1st Amendment rights.

Advocates for student media, Indiana Daily Student alumni and high-profile supporters including billionaire Mark Cuban have excoriated the university for stepping on the outlet’s independence.

The Daily Student is routinely honored among the best collegiate publications in the country. It receives about $250,000 annually in subsidies from the university’s Media School to help make up for dwindling ad revenue.

On Tuesday, the university fired the paper’s advisor, Jim Rodenbush, after he refused an order to force student editors to ensure that no news stories ran in the print edition tied to the homecoming celebrations.

“I had to make the decision that was going to allow me to live with myself,” Rodenbush said. “I don’t have any regrets whatsoever. In the current environment we’re in, somebody has to stand up.”

Student journalists still call the shots

A university spokesperson referred an Associated Press reporter to a statement issued Tuesday, which said the campus wants to shift resources from print media to digital platforms both for students’ educational experience and to address the paper’s financial problems.

Chancellor David Reingold issued a separate statement Wednesday saying the school is “firmly committed to the free expression and editorial independence of student media. The university has not and will not interfere with their editorial judgment.”

It was late last year when university officials announced they were scaling back the cash-strapped newspaper’s print edition from a weekly to seven special editions per semester, tied to campus events.

The paper published three print editions this fall, inserting special event sections, Rodenbush said. Last month, Media School officials started asking why the special editions still contained news, he said.

Rodenbush said IU Media School Dean David Tolchinsky told him this month that the expectation was print editions would contain no news. Tolchinsky argued that Rodenbush was essentially the paper’s publisher and could decide what to run, Rodenbush said. He told the dean that publishing decisions were the students’ alone, he said.

Tolchinsky fired him Tuesday, two days before the homecoming print edition was set to be published, and announced the end of all Indiana Daily Student print publications.

“Your lack of leadership and ability to work in alignment with the University’s direction for the Student Media Plan is unacceptable,” Tolchinsky wrote in Rodenbush’s termination letter.

The newspaper was allowed to continue publishing stories on its website.

Student journalists see a ‘scare tactic’

Andrew Miller, the Indiana Daily Student’s co-editor in chief, said in a statement that Rodenbush “did the right thing by refusing to censor our print edition” and called the termination a “deliberate scare tactic toward journalists and faculty.”

“IU has no legal right to dictate what we can and cannot print in our paper,” Miller said.

Mike Hiestand, senior legal counsel at the Student Press Law Center, said 1st Amendment case law going back 60 years shows student editors at public universities determine content. Advisors such as Rodenbush can’t interfere, Hiestand said.

“It’s open and shut, and it’s just so bizarre that this is coming out of Indiana University,” Hiestand said. “If this was coming out of a community college that doesn’t know any better, that would be one thing. But this is coming out of a place that absolutely should know better.”

Rodenbush said that he wasn’t aware of any single story the newspaper has published that may have provoked administrators. But he speculated the moves may be part of a “general progression” of administrators trying to protect the university from any negative publicity.

Blocked from publishing a print edition, the paper last week posted a number of sharp-edged stories online, including coverage of the opening of a new film critical of arrests of pro-Palestinian demonstrators last year, a tally of campus sexual assaults and an FBI raid on the home of a former professor suspected of stealing federal funds.

The paper also has covered allegations that IU President Pamela Whitten plagiarized parts of her dissertation, with the most recent story running in September.

Richmond writes for the Associated Press.

Investment advisor Paradiem, LLC disclosed a new purchase of Owens Corning (OC 0.58%), adding 85,047 shares in Q3 2025, an estimated $12.48 million trade based on the average price for the quarter ended Sept. 30, 2025.

IMAGE SOURCE: GETTY IMAGES.

What happened

According to a filing with the Securities and Exchange Commission dated October 17, 2025, Paradiem, LLC increased its stake in Owens Corning substantially during the third quarter. The fund acquired 85,047 additional shares, bringing its total position to 94,067 shares, with a quarter-end reported value of $13.31 million.

What else to know

Paradiem, LLC’s addition brings Owens Corning to 3.1% of 13F reportable assets as of Q3 2025.

Paradiem’s top holdings after the filing as of September 30, 2025 are:

• NASDAQ:LRCX: $27.44 million (6.4% of AUM)
• NYSE:TEL: $19.53 million (4.55% of AUM)
• NYSE:VLO: $17.87 million (4.2% of AUM)
• NYSE:LMT: $16.13 million (3.76% of AUM)
• NYSE:CAT: $15.79 million (3.7% of AUM)

As of October 17, 2025, shares of Owens Corning were priced at $126.96, with a one-year change of -33.04%, underperforming the S&P 500 by 45.03 percentage points.

Company Overview

Company Snapshot

Owens Corning is a leading global manufacturer specializing in insulation, roofing, and fiberglass composite products, with a diversified revenue base across construction and industrial end markets. The company leverages its scale and integrated operations to deliver essential building materials to a broad customer base.

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials across three segments: composites, insulation, and roofing. It generates revenue through direct sales and distribution of building materials, glass reinforcements, insulation products, and roofing components to construction and industrial markets worldwide.

The company serves insulation installers, home centers, distributors, contractors, and manufacturers in residential, commercial, and industrial sectors.

Foolish take

Financial services company Paradiem upped its stake in Owens Corning in a big way. The stock went from 0.3% of the fund’s holdings to 3.1% in Q3. This action demonstrates a belief in Owens Corning despite shares being down significantly from the 52-week high of $214.53 reached last November.

Owens Corning stock is down this year due to macroeconomic conditions, such as higher interest rates and persistent inflation, which caused a slowdown in the construction sector. The company also underwent changes, such as divesting businesses in China and South Korea, to sharpen its focus, particularly on the North American and European markets.

Despite these factors, Owens Corning delivered 10% year-over-year sales growth in the second quarter to $2.75 billion. And its moves to divest less profitable businesses resulted in Q2 diluted earnings per share increasing 34% year over year to $3.91 for its continuing operations.

With the company’s stock down but its financials looking solid, Paradiem may have taken the opportunity to scoop up shares. After all, the Federal Reserve is widely expected to cut interest rates soon, which can help to stimulate the construction industry. These factors make Owens Corning a compelling investment, especially while its stock is down.

Glossary

13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC, showing certain equity holdings.
AUM (Assets Under Management): The total market value of investments that a fund or manager oversees on behalf of clients.
Stake: The ownership interest or number of shares held in a particular company by an investor or fund.
Quarter-end: The last day of a fiscal quarter, used as a reference point for financial reporting.
Dividend Yield: Annual dividends paid by a company divided by its share price, expressed as a percentage.
TTM: The 12-month period ending with the most recent quarterly report.
Filing: An official document submitted to a regulatory authority, often containing financial or ownership information.
Segments: Distinct business divisions within a company, often based on product lines or markets served.
Distribution: The process of delivering products from manufacturers to end customers or intermediaries.
End markets: The industries or customer groups that ultimately use a company’s products or services.

GREENBELT, Md. — Former Trump administration national security advisor John Bolton was charged Thursday in a federal investigation into the potential mishandling of classified information, a person familiar with the matter told the Associated Press.

The investigation into Bolton, who served for more than a year in President Trump’s first administration before being fired in 2019, burst into public view in August when the FBI searched his home in Maryland and his office in Washington for classified records he may have held onto from his years in government.

The existence of the indictment was confirmed to the AP by a person familiar with the matter who could not publicly discuss the charges and spoke to the AP on condition of anonymity.

Agents during the August search seized multiple documents labeled “classified,” “confidential” and “secret” from Bolton’s office, according to previously unsealed court filings. Some of the seized records appeared to concern weapons of mass destruction, national “strategic communication” and the U.S. mission to the United Nations, the filings stated.

The indictment sets the stage for a closely watched court case centering on a longtime fixture in Republican foreign policy circles who became known for his hawkish views on American power and who after leaving Trump’s first government emerged as a prominent and vocal critic of the president. Though the investigation that produced the indictment began before Trump’s second term, the case will unfold against the backdrop of broader concerns that his Justice Department is being weaponized to go after his political adversaries.

It follows separate indictments over the last month accusing former FBI Director James Comey of lying to Congress and New York Atty. Gen. Letitia James of committing bank fraud and making a false statement, charges they both deny. Both of those cases were filed in federal court in Virginia by a prosecutor Trump hastily installed in the position after growing frustrated that investigations into high-profile enemies had not resulted in prosecution.

The Bolton case, by contrast, was filed in Maryland by a U.S. attorney who before being elevated to the job had been a career prosecutor in the office.

Questions about Bolton’s handling of classified information date back years. He faced a lawsuit and a Justice Department investigation after leaving office related to information in a 2020 book he published, “The Room Where it Happened,” that portrayed Trump as grossly uninformed about foreign policy.

The Trump administration asserted that Bolton’s manuscript included classified information that could harm national security if exposed. Bolton’s lawyers have said he moved forward with the book after a White House National Security Council official, with whom Bolton had worked for months, said the manuscript no longer contained classified information.

A search warrant affidavit that was previously unsealed said a National Security Council official had reviewed the book manuscript and told Bolton in 2020 that it appeared to contain “significant amounts” of classified information, some at a top-secret level.

Bolton’s attorney Abbe Lowell has said that many of the documents seized in August had been approved as part of a pre-publication review for Bolton’s book. He said that many were decades old, from Bolton’s long career in the State Department, as an assistant attorney general and as the U.S. ambassador to the United Nations.

The indictment is a dramatic moment in Bolton’s long career in government. He served in the Justice Department during President Reagan’s administration and was the State Department’s point man on arms control during George W. Bush’s presidency. Bolton was nominated by Bush to serve as U.S. ambassador to the United Nations, but the strong supporter of the Iraq war was unable to win Senate confirmation and resigned after serving 17 months as a Bush recess appointment. That allowed him to hold the job on a temporary basis without Senate confirmation.

In 2018, Bolton was appointed to serve as Trump’s third national security advisor. But his brief tenure was characterized by disputes with the president over North Korea, Iran and Ukraine.

Those rifts ultimately led to Bolton’s departure, with Trump announcing on social media in September 2019 that he had accepted Bolton’s resignation. Bolton subsequently criticized Trump’s approach to foreign policy and government in his 2020 book, including by alleging that Trump directly tied providing military aid to the country’s willingness to conduct investigations into Joe Biden, who was soon to be Trump’s Democratic 2020 election rival, and members of his family.

Trump responded by slamming Bolton as a “washed-up guy” and a “crazy” warmonger who would have led the country into “World War Six.” Trump also said at the time that the book contained “highly classified information” and that Bolton “did not have approval” for publishing it.

Tucker, Durkin Richer and Kunzelman write for the Associated Press. Tucker and Durkin Richer reported from Washington.

Pacer Advisors, Inc. disclosed a significant reduction in its United Parcel Service (UPS 0.05%) holdings, selling 3,884,101 shares for an estimated $351.8 million, according to an SEC filing dated October 15, 2025.

What Happened

According to a filing with the Securities and Exchange Commission dated October 15, 2025, Pacer Advisors, Inc. sold 3,884,101 shares of United Parcel Service during the quarter. The estimated transaction value, based on the average share price for the quarter, was ~$351.8 million. Following the sale, the fund held 533,764 shares, worth $44.59 million.

What Else to Know

This sale reduced the United Parcel Service stake to 0.11% of Pacer Advisors’ total reportable U.S. equity assets under management as of September 30, 2025.

Top holdings after the filing:

• NASDAQ:NVDA: $569.61 million (1.65% of AUM as of September 30, 2025)
• NASDAQ:AMAT: $499.48 million (1.44% of AUM as of September 30, 2025)
• NYSE:XOM: $489.87 million (1.42% of AUM as of September 30, 2025)
• NYSE:NEM: $483.92 million (1.40% of AUM as of September 30, 2025)
• NYSE:MO: $467.63 million (1.35% of AUM as of September 30, 2025)

As of October 14, 2025, United Parcel Service shares were priced at $84.05, down 37.5% over the past year; shares have underperformed the S&P 500 by 47.9 percentage points on a price-change basis (ex-dividends) over the same period.

Company Overview

Company Snapshot

United Parcel Service, Inc. is a global leader in integrated freight and logistics, operating in over 200 countries and territories. The company leverages a vast transportation network and advanced technology to provide reliable, time-definite delivery services. UPS’s scale, diversified service offering, and operational efficiency underpin its competitive position in the logistics sector.

The company offers letter and package delivery, transportation, logistics, and supply chain solutions across U.S. domestic and international markets. It generates revenue through time-definite air and ground shipping, freight forwarding, customs brokerage, and ancillary logistics services.

United Parcel Service serves a diverse client base including businesses of all sizes, healthcare and life sciences organizations, and individual consumers globally.

Foolish Take

Pacer advisors, a private investment manager based out of Pennsylvania, recently disclosed the sale of nearly 3.9 million shares of United Parcel Service (UPS), worth more than $351 million. It’s another blow for a company whose stock has chronically underperformed key benchmarks recently.

For example, UPS shares have slipped nearly 48% over the last three years, while the S&P 500 has gained about 86% over the same period. That means UPS shares have underperformed the benchmark index by 134% dating back to late 2022.

Therefore, it’s no wonder that institutional support is drying up. Fund managers like Pacer are clearly retreating from the logistics giant. But why?

As is often the case, it comes down to fundamentals. Key metrics for UPS, like revenue, net income, and free cash flow have fallen steadily in recent years. Dating back to 2022, UPS’ revenue has fallen 10%; net income has dropped 50%; and free cash flow has slumped by an eye-popping 62%.

Clearly, a turnaround is needed for this iconic company. However, until the company can improve its overall fundamentals, retail investors may want to exercise caution with UPS stock.

Glossary

Assets Under Management (AUM): The total market value of all investments managed by a fund or investment firm.
Reportable U.S. Equity Assets: U.S. stock holdings that an investment manager must disclose in regulatory filings.
Stake: The ownership interest or position held in a company by an investor or fund.
Top Holdings: The largest investments in a fund’s portfolio, usually ranked by market value.
Dividend Yield: Annual dividends per share divided by the share price, expressed as a percentage.
Time-Definite Delivery: Shipping services that guarantee delivery by a specific date or time.
Freight Forwarding: The coordination and shipment of goods on behalf of shippers, often internationally.
Customs Brokerage: Service that helps importers and exporters comply with customs regulations and clear goods through customs.
Ancillary Logistics Services: Additional support services in logistics, such as warehousing, packaging, or inventory management.
TTM: The 12-month period ending with the most recent quarterly report.