The market’s heartbeat quickened on November 14, when Beck Capital Management sold 21,729 shares of Chart Industries, a move that left the stock’s price whispering secrets it wasn’t ready to share. The fund’s position, once a fat slice of its portfolio, now hovered like a ghost, fading into the shadows of its former self.
What Happened
A U.S. Securities and Exchange Commission filing, cold and clinical, revealed Beck Capital had offloaded its stake in Chart Industries during the third quarter. The fund’s holdings, once worth $3.4 million, now sat like a forgotten relic in its vault. By September 30, only 4,710 shares remained, a paltry $942,632. The numbers told a story of retreat, not collapse.
What Else to Know
The GTLS position, once 1.1% of BECK’s assets, now slithered to 0.2%. A quiet exodus. The fund’s top holdings-NVDA, META, AVGO, MSFT-were titans, their names etched in the annals of tech. Chart Industries? A smaller, more cyclical beast, now tethered to the whims of mergers and acquisitions.
As of Thursday, GTLS traded at $205.29, a 11% rise over the year, yet still a shadow of the S&P 500’s 16% surge. The stock’s climb felt like a man trying to outrun a storm, only to find the clouds had already swallowed the horizon.
Company Overview
| Metric | Value |
|---|---|
| Price (as of Thursday) | $205.29 |
| Market Capitalization | $9.2 billion |
| Revenue (TTM) | $4.3 billion |
| Net Income (TTM) | $66.7 million |
Company Snapshot
- Chart Industries manufactures engineered equipment for the energy and industrial gas sectors, including cryogenic storage tanks, heat exchangers, and specialty products for LNG, hydrogen, CO₂ capture, and other applications.
- The company generates revenue through the sale of capital equipment, aftermarket services, leasing solutions, and process optimization for industrial and energy customers worldwide.
- It serves a global customer base spanning industrial gas suppliers, energy companies, specialty end-markets such as aerospace and food & beverage, and emerging sectors like hydrogen and biogas.
Chart Industries, Inc. is a leading provider of highly engineered cryogenic and heat transfer equipment, with a diversified portfolio addressing critical needs in energy transition, industrial gases, and specialty markets. The company leverages its technical expertise and broad service offerings to capture growth opportunities in LNG, hydrogen, and carbon capture applications. Its global scale and integrated solutions position it as a strategic supplier to both established and emerging industrial sectors.
Foolish Take
Trimming into strength can be just as telling as buying on weakness. Chart Industries sits at the intersection of industrial execution and deal-driven uncertainty-a place where discipline is a currency more valuable than gold. Operationally, the business is firing. Third-quarter results showed record orders of $1.68 billion, up nearly 44% year over year. Yet valuation and structure matter. With Baker Hughes agreeing to acquire the company for $210 per share in cash, upside from here is more or less capped. Against that backdrop, reducing a position that had already shrunk to a fraction of assets looks less like lost confidence and more like risk management.
Notably, this trim comes from a portfolio dominated by mega-cap compounders like Nvidia, Microsoft, and Meta. Compared with those holdings, Chart is smaller, more cyclical, and now more event-driven. For long-term investors, the lesson is clear: Great businesses still require price and probability discipline, especially when catalysts limit future returns.
Glossary
Assets Under Management (AUM): The total market value of investments that a fund or firm manages on behalf of clients.
13F assets: U.S. equity securities that institutional investment managers must report quarterly to the SEC on Form 13F.
Reportable U.S. equity assets: U.S. stocks and related securities that an investment manager is required to disclose in regulatory filings.
Top holdings: The largest individual investments within a fund’s portfolio, usually ranked by market value.
Engineered equipment: Specialized machinery or components designed for specific industrial or technical applications.
Cryogenic: Relating to very low temperatures, typically used for storing or processing liquefied gases.
Aftermarket services: Support, maintenance, or upgrades provided after the initial sale of equipment or products.
Leasing solutions: Financial arrangements allowing customers to use equipment for a set period in exchange for regular payments.
Process optimization: Improving industrial or business processes to increase efficiency, performance, or cost-effectiveness.
Energy transition: The global shift from fossil fuels to cleaner, renewable energy sources.
TTM: The 12-month period ending with the most recent quarterly report.
-A deal that smells of smoke and mirrors, but the price is set. 🚫
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2025-12-18 22:23