U S Global Investors 13F: Exits Caterpillar (CAT) Stake
Key Points
- U S Global Investors sold all 1,000 shares of Caterpillar Inc. CAT, completely closing its position in a filing on October 22, 2026.
- Other institutional funds adjusted their holdings, with Symphony Financial raising its stake by 78.7% to 3,751 shares.
- Caterpillar trades below its moving averages as investors await the next earnings report scheduled for October 29, 2026.
Since the filing, $CAT is down 2.4% to date (from the $704.05 close on Oct 22, 2026).
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U S Global Investors exited its position in Caterpillar Inc. CAT by selling all 1,000 shares during the quarter, according to a Form 13F filing submitted to the SEC on October 22, 2026. The complete liquidation closed out a stake previously valued at 1,000 shares.
CAT
Caterpillar Inc.
What Changed in U S Global Investors's Caterpillar Position
In its filing for the period, U S Global Investors reported a complete exit from Caterpillar Inc. CAT, dropping its prior holding of 1,000 shares down to zero. The move marked a full sale of the fund's investment in the heavy machinery maker.
Other Institutional Activity in Caterpillar Inc.
Other fund managers made mixed adjustments to their Caterpillar holdings during the period. Symphony Financial grew its holdings by 1,652 shares, ending with 3,751 shares worth about $3,069,086. NLB Skladi, upravljanje premozenja, d.o.o. cut its position by 6.8%, leaving it with 20,264 shares valued at $16,429,849. True North Advisors added 1,638 shares for a 31.9% increase, bringing its total to 6,780 shares worth $5,496,946. Midwest Trust reduced its stake by 3.9% to finish with 136,747 shares valued at $110,872,987. RMR Wealth Builders lifted its investment by 37.7%, picking up 1,906 shares to hold 6,963 shares worth $5,645,579.
Caterpillar Inc. Stock Down 7.2%
Caterpillar shares closed at $704.05 on the October 22, 2026 filing date. Recently, the stock traded around $686.81 on October 24, 2026, putting it about 2.4% lower since that filing. The stock sits below its 50-day and 200-day moving averages and well off its 52-week high of $1,073.46.
Recent Earnings
Caterpillar posted trailing-twelve-month revenue of $74.73 billion alongside trailing earnings of $23.23 per share. The next earnings update is scheduled for October 29, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
7 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 18.8%. Revenue beat estimates by 3.8%.
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Profit surprise
EBITDA beat by 32 percent. Operating income beat by 34 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 upgrade, 7 target raises.
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Earnings quality
Positive free cash flow.
Earnings Call Summary
Caterpillar had a strong first quarter with revenue of 17.4 billion dollars, up 22 percent from last year, and adjusted earnings per share of 5.54 dollars, beating consensus of 4.55 dollars. Backlog hit a record 63 billion dollars, with particularly strong demand for power generation equipment serving data centers. Management is investing aggressively in capacity expansion because customers are committing to long term orders for backup power, prime power, and gas compression applications across multiple industries.
Guidance Caterpillar raised its 2026 sales outlook to low double digit growth from expectations set in January. The company expects continued growth across all three segments driven by strong backlog and resilient end markets, especially in power generation for data centers. Management plans to expand large reciprocating engine capacity to nearly 3 times 2024 levels by 2030.
Clearly positive report. Results were better than expected, though the forward reset is not the strongest.
Dividend
The company distributes an annual dividend rate of $6.52 per share, yielding 0.93% based on recent share levels.
Insider Buying and Selling at Caterpillar Inc.
Company insiders completed multiple share sales prior to the filing. Officer William E. Schaupp sold 360 shares on May 13, 2026 at $906.00 per share for $326,160. Officer Denise C. Johnson sold 6,196 shares on May 13, 2026, and another 12,605 shares on May 14, 2026. CEO Joseph E. Creed sold 32,401 shares on August 28, 2026 for $26,211,764.
Analysts Set New Price Targets
Wall Street firms updated their views ahead of the filing. Evercore ISI Group maintained an outperform rating with a $1,045.00 target on August 11, 2026. Freedom Broker upgraded the stock to a buy on September 10, 2026, with a $980.00 target. Truist Securities kept a buy rating on October 5, 2026, lowering its target to $1,100.00. Citigroup maintained a buy rating on October 12, 2026, adjusting its target to $950.00. Oppenheimer kept an outperform rating on October 14, 2026, setting a target of $1,009.00. Overall, the stock holds a consensus buy rating with a mean price target of $945.76 across 26 analyst opinions.
About Caterpillar Inc.
Caterpillar Inc. manufactures construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and locomotives. The company operates globally across heavy industries, making its financial health a key gauge for industrial demand.
Bottom Line
Investors will watch Caterpillar's upcoming earnings report on October 29, 2026, for further insight into demand across its key industrial markets. Future institutional filings will show whether other funds follow U S Global Investors in reducing exposure.
Related Filing Alerts
Source: U S Global Investors's 13F filing on $CAT (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts