According to its latest SEC 13F filing for the third quarter, Alpha Cubed Investments LLC reduced its holding in Caterpillar by 1.5%, selling 2,447 shares to end the period with 160,764 shares. At quarter-end, that position represented 2.7% of Alpha Cubed’s total portfolio and ranked as its 14th largest holding. The remaining stake was valued at approximately $76.7 million, reflecting the firm’s confidence in the industrial equipment leader despite the modest reduction.

Several other asset managers adjusted their Caterpillar allocations last quarter. Pacific Point Advisors initiated a new position worth about $579,000, while Brighton Jones expanded its stake by 51.5% to 7,409 shares (approximately $2.7 million). Smaller fund managers also added to their holdings: LBP AM SA increased its position by 8.2% to 3,835 shares (near $1.5 million), PFG Investments grew by 1.7% to 6,229 shares ($2.4 million), and Trilogy Capital raised its stake by 6.3% to 762 shares ($296,000). Collectively, hedge funds and institutions now control roughly 71% of Caterpillar’s outstanding shares.

In its January earnings release, Caterpillar reported fourth-quarter revenue of $19.13 billion, up 18% year-over-year, and delivered earnings per share of $5.16, beating consensus by $0.49. Power & Energy segment sales surged 44%, driven by orders for data-center generators and turbines, while Construction Industries revenue rose 11% on major infrastructure projects. The company’s backlog reached a record $51 billion, up 71% from a year earlier, and management deployed $7.9 billion in dividends and share buybacks during 2025. A quarterly dividend of $1.51 per share was declared, representing a 31% payout ratio and a yield near 0.9% on an annualized basis.