Swiss National Bank Boosts Stake in Garrett Motion
The Swiss National Bank has significantly increased its stake in Garrett Motion Inc., a technology leader specializing in turbocharging systems for the automotive industry. In its latest 13F filing with the Securities and Exchange Commission, the bank disclosed that it boosted its holdings by 22.9% in the first quarter.
The firm now owns 341,900 shares of Garrett Motion's stock after acquiring an additional 63,800 shares during the period. The acquisition is valued at $6,212,000 and represents 0.18% of the company's total worth.
This move comes as the bank continues to increase its exposure to the automotive sector. Several other hedge funds have also shown interest in Garrett Motion, with some increasing their stakes significantly. For example, Global Retirement Partners LLC lifted its holdings by 156.7% during the fourth quarter.