General Motors Company (NYSE: GM) designs and manufactures vehicles under the Chevrolet, Cadillac, Buick, and GMC brands, while also investing in electric vehicles and autonomous driving. It has been a cornerstone of the American auto industry for more than a century, recently trading around $58.59 per share with a market cap of about $55.8 billion. Once seen primarily as a traditional carmaker, GM is now in the middle of a transformation, pushing into electric vehicles through its Ultium platform and testing the future of self-driving with its Cruise unit. Despite these efforts, GM still generates most of its revenue from gasoline-powered trucks and SUVs, leaving it exposed to cyclical demand and competitive pressure.
The past year has brought an 18.4% gain in the stock, but forward estimates point to declines in revenue and earnings, reflecting the challenges of balancing legacy operations with heavy investment in EVs and new technologies. GM’s debt load also remains a concern, with leverage limiting flexibility compared to peers.
Once closely tied to family and insider holdings, GM today is dominated by large asset managers like Vanguard, BlackRock, and State Street. These passive giants anchor the shareholder base, while active managers and hedge funds have shown more divided sentiment. At the same time, insider trades have leaned toward selling, which may suggest caution around near-term performance.
Looking at GM’s ownership breakdown and insider activity gives investors a sense of how confident major players are in the company’s future.
Who Are GM’s Top Shareholders?
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General Motors designs and manufactures vehicles across brands like Chevrolet, Cadillac, Buick, and GMC, while expanding into electric vehicles and autonomous driving. Its shareholder base is dominated by large passive index managers, while active funds show more divided views.
- The Vanguard Group: 110.3M shares (11.6%), ~$6.46B. Added 9.9M (+9.9%).
- BlackRock: 48.9M (5.1%), ~$2.86B. Cut 3.6M (-6.9%).
- State Street: 48.7M (5.1%), ~$2.85B. Trimmed 512K (-1.0%).
- Harris Associates: 25.3M (2.7%), ~$1.48B. Cut 4.4M (-14.7%).
- Putnam Investment Management: 24.4M (2.6%), ~$1.43B. Added 461K (+1.9%).
- Greenhaven Associates: 23.7M (2.5%), ~$1.39B. Trimmed 121K (-0.5%).
- Geode Capital: 21.8M (2.3%), ~$1.28B. Cut 744K (-3.3%).
- Capital World Investors: 16.8M (1.8%), ~$982M. Added 80K (+0.5%).
- Dimensional Fund Advisors: 15.5M (1.6%), ~$909M. Added 1.1M (+7.9%).
- AQR Capital Management: 13.5M (1.4%), ~$791M. Added 36K (+0.3%).
One highlight from last quarter is Jim Simons’ Renaissance Technologies, which lifted its GM stake by 585%, now owning about 896K shares worth $44 million. That kind of sharp increase suggests the fund sees renewed opportunity in the stock.
Another big move came from Dmitry Balyasny’s Balyasny Asset Management, which boosted its GM holdings by 309% to 1.41 million shares valued at $69.6 million. The aggressive buying may reflect growing conviction in GM’s transformation efforts.
Meanwhile, Robert Atchinson’s Adage Capital Partners raised its GM position by 164%, now controlling roughly 881K shares worth $43 million. This shows that some hedge funds are leaning in despite concerns over slowing earnings.
The passive giants provide stability and ensure GM stays widely held, but active managers are sending mixed signals. Vanguard’s large addition suggests long-term confidence, while Harris Associates’ steep reduction points to caution. Hedge fund buying from names like Simons, Balyasny, and Atchinson shows selective optimism, even as others remain hesitant.
Overall, GM’s ownership picture looks stable at the core but divided at the edges, giving investors a mixed signal on near-term conviction.
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GM’s Recent Insider Trades
Insider trading at General Motors has leaned noticeably toward sales in recent months. While some of these transactions may be linked to preset trading plans or personal financial decisions, the absence of meaningful insider buying stands out.
For investors, this pattern may point to management being cautious about adding more exposure while GM faces revenue pressure, heavy investment needs, and a relatively high debt load.
- Mary Barra (CEO): Sold ~100K shares at ~$47.39 in Feb 2025.
- Mark Reuss (President): Sold ~51K shares at ~$47.39 in Feb 2025.
- Paul Jacobson (CFO): Sold ~37.6K shares at ~$47.39 in Feb 2025.
- Christopher Hatto (Controller): Several smaller sales in Feb 2025.
- Grant Michael Dixton (EVP): Sold ~35K shares at ~$52.11 in Jul 2025.
Insiders appear to be more focused on selling than buying, which could suggest hesitation around GM’s current valuation. The trades may be routine or personal, but without buying activity, there is little evidence of strong conviction from leadership at current prices.
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What the Ownership & Insider Trade Data Tell Us
GM’s shareholder base is anchored by passive index funds, which helps keep the stock widely held and relatively stable. At the same time, active managers are sending mixed signals: Vanguard’s increase looks like confidence in the long-term, while Harris Associates’ sharp cut points to caution.
On the insider side, the pattern has leaned toward selling, with no meaningful buying to offset it. These moves may simply reflect personal plans, but for investors, it suggests leadership is not signaling conviction at current prices.
GM looks steady enough to remain a core holding in index portfolios, but both institutional flows and insider activity highlight uncertainty about its near-term upside. The balance between its legacy business, high debt, and push into EVs is what big investors appear to be weighing most closely.
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