Detroit, May 29, 2026, 07:02 EDT
GM picked up interest from big investors on Friday after MarketBeat said National Pension Service and Geode Capital Management bought GM stock in the fourth quarter. This comes after an earlier report this week that Allstate upped its stake too. The data is for last quarter, not current buying.
GM raised its 2026 core profit outlook last quarter and kept North America margins over 10%. That comes as investors look at tariffs, higher costs, and a slower electric vehicle rollout. Timing matters now.
Form 13F is the quarterly filing from big investment managers listing their holdings as of the end of the quarter. The data has a lag, and the SEC warns it’s pulled from what filers submit, not a replacement for reading the full reports.
National Pension Service boosted its stake in GM by 78.8% in Q4, MarketBeat reported. The fund bought 1,720,384 GM shares, closing December with 3,903,579 shares valued at $317.4 million. An SEC table for the quarter listed the same position for National Pension Service.
Geode bumped up its GM stake, raising it by 1.2% and picking up 267,477 more shares, MarketBeat said. That brought Geode’s total GM holding to 22,242,381 shares, valued at about $1.80 billion. The firm’s SEC filing showed two line items for GM that matched both the share count and value.
Allstate boosted its GM stake with a bigger percentage gain. The insurer more than doubled its GM holding, adding 37,229 shares for a total of 73,140 shares, according to MarketBeat. Its filing showed those 73,140 shares worth $5,947,745.
GM’s filings are drawing attention because of the company’s operating conditions. GM last month posted first-quarter revenue of $43.6 billion, net income to stockholders at $2.6 billion, and adjusted EBIT of $4.3 billion. The automaker lifted its 2026 EBIT-adjusted target by $500 million, setting a new range of $13.5 billion to $15.5 billion.
GM set a quarterly dividend of 18 cents per share, with payment going out June 18 to shareholders on record as of June 5. MarketBeat reported GM has a $6 billion share buyback plan in place, bringing more focus to returns for investors.
Mary Barra, GM’s chair and CEO, told shareholders the company has “solid momentum” in its core business and is operating in a “very dynamic environment.” GM said it led U.S. and Canadian sales, took 42% of the U.S. full-size pickup market, and was No. 2 in electric vehicles. Investors often track these numbers against Ford, Stellantis and Tesla. General Motors
GM’s results drew mixed reactions. GM CFO Paul Jacobson told Reuters the company hasn’t seen “any material changes to demand or mix thus far.” But JPMorgan analyst Ryan Brinkman said GM should get credit for lifting its forecast, given the “significant uncertainty and volatility” right now. Reuters
But GM’s downside risks are still clear. The automaker is sticking with its view that tariffs will knock $2.5 billion to $3.5 billion off profit this year, Reuters said. On top of that, it faces $1.5 billion to $2 billion in expected hits from higher costs for raw materials, chips and logistics. GM also took a $1.1 billion charge in the first quarter related to slower electric-vehicle programs.
The filings are more of an old snapshot than a new bullish sign, showing who held positions as GM moved into 2026 with higher guidance, more cash returns, and some cost pressure still in play. The real question is if those investors hang on when newer quarterly filings reflect what’s happened with the stock.
