Position Movement Among GM's Major Shareholders

| About: General Motors (GM)
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Bloomberg reported yesterday some selling -- and a little buying -- of General Motors' (NYSE:GM) stock among its major shareholders during the second quarter.

State Street Bank and Trust, GM's largest shareholder, boosted its stake by 400,387 shares.

Capital Research, the second-largest shareholder, slashed its stake by 24% and Brandes Investment Partners, the third-largest, sold 4% of its holding.

Kirk Kerkorian's Tracinda Corp. is the fourth-largest shareholder and not mentioned in Bloomberg's report. He's probably standing pat. GM is exploring the proposed alliance with Nissan and Renault. And, besides, if Kerkorian did anything with his holding in the auto company it would be big news.

Southeastern Asset Management is GM's fifth-largest shareholder. Its Longleaf Partners Fund is maintaining its 14.2-million share holding. But Southeastern trimmed its other (non-Longleaf) GM holdings by 145,000 shares.

What to make of this? Not much.

I don't know the average cost of the sellers' GM positions. And to be honest, I'm not overly familiar with State Street or Capital Research.

I do know that I remain cautiously optimistic about further appreciation in GM's stock even though it's already up more than 50% this year. Just remember that these things usually aren't straight lines up.

GM 1-yr chart:

GM 1-yr chart