On Thursday, Hawaii-based wealth advisory Cadinha & Co. disclosed a new position in Goldman Sachs (GS 1.61%), acquiring 19,125 shares for an estimated $15.2 million during a strong third quarter for the banking giant.
What Happened
According to a filing with the Securities and Exchange Commission released on Thursday, Cadinha initiated a new position in Goldman Sachs (GS 1.61%), purchasing 19,125 shares. The transaction was valued at an estimated $15.2 million, representing 2.1% of the fund’s reportable U.S. equity assets as of September 30.
What Else to Know
Top holdings after the filing:
- BRK-B: $38.9 million (5.3% of AUM)
- IAU: $38.5 million (5.2% of AUM)
- COST: $35.7 million (4.8% of AUM)
- MSFT: $35.2 million (4.8% of AUM)
- GOOGL: $34.9 million (4.7% of AUM)
As of Monday, Goldman shares were priced at $763.32, up a staggering 47% over the past year and outperforming the S&P 500 by 32 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $56.2 billion |
| Net Income (TTM) | $15.6 billion |
| Dividend Yield | 2.1% |
| Price (as of market close on Monday) | $763.32 |
Company Snapshot
- Goldman Sachs offers investment banking, global markets services, asset management, and consumer & wealth management, generating revenue from advisory fees, trading, underwriting, and asset management.
- The bank operates a diversified financial services model, earning income through client advisory, trading commissions, underwriting fees, and management of client assets across multiple segments.
- It serves corporations, financial institutions, governments, and individuals worldwide.
Goldman Sachs is a leading global financial institution with a broad portfolio of services spanning investment banking, trading, asset management, and wealth management.
Foolish Take
Cadinha & Co. made a notable new addition to its portfolio last quarter by investing roughly $15.2 million in Goldman Sachs. The Hawaii-based wealth manager’s move adds a global banking heavyweight to a portfolio otherwise concentrated in long-term compounders such as Berkshire Hathaway, Costco, and Microsoft.
The purchase comes as Goldman delivered one of its strongest quarters in recent years. On Tuesday, the firm reported $15.2 billion in third-quarter revenue, up 20% from a year earlier, and net earnings that surged 37% to $4.1 billion. Strength across investment banking and asset management helped offset higher compensation costs, while share repurchases and a $4 quarterly dividend underscored robust capital returns.
For long-term investors, Cadinha’s entry into Goldman signals confidence in the bank’s rebound after a period of restructuring and slower deal activity. While volatility in global markets could weigh on trading revenue, Goldman’s diversified revenue base, disciplined cost controls, and expanding wealth management platform position it well for sustained profitability and shareholder returns.
Glossary
13F: A quarterly SEC filing required from institutional investment managers to disclose their equity holdings.
AUM: Assets under management; the total market value of investments managed by a firm or fund.
Quarterly pricing: The average price of a security over a specific calendar quarter, used for valuation or reporting.
Reportable U.S. equity assets: U.S. stock holdings that must be disclosed in regulatory filings such as the 13F.
Stake: The ownership interest or share held in a company by an investor or fund.
Dividend yield: Annual dividends paid by a company divided by its share price, shown as a percentage.
Underwriting: The process by which investment banks raise capital for clients by issuing and selling securities.
Asset management: Professional management of investments such as stocks, bonds, and other assets for clients.
Wealth management: Financial services that provide investment advice and planning for individuals and families.
Advisory fees: Charges paid to financial professionals for providing investment or financial advice.
Trading commissions: Fees charged by brokers or banks for executing buy or sell orders on behalf of clients.
TTM: The 12-month period ending with the most recent quarterly report.
