DETROIT — Two of the largest institutional investors in General Motors Corp. have sold big blocks of the company's stock, but others have increased their holdings, according to regulatory filings.
Capital Research & Management Co., a Los Angeles-based investment firm that is GM's second-largest investor, sold 19.2 million shares, or 24 percent of its holdings in the company, according to second-quarter reports filed earlier this week with the Securities and Exchange Commission.
The company's third-largest investor, Brandes Investment Partners LP of San Diego, sold 2.4 million shares, or 4 percent of its holdings.
But other investors increased their stakes in the world's largest automaker, including Credit Suisse, which bought 11.5 million shares to become the sixth-largest investor; Fidelity Management & Research, which purchased 6.8 million; and Franklin Mutual Advisers LLC, which bought 4.6 million, according to Lionshares.com.
"It's natural for investors to periodically rebalance their holdings," said GM spokeswoman Brenda Rios, who declined further comment on the transactions.
Capital Research and Brandes said they do not comment on their investments.