Let me set the scene: Thursday morning, my coffee cup sweating like a man in a sauna, I stumbled upon the news that Goodman Financial had exited ABM Industries. It’s the financial equivalent of spilling your third cup of espresso on a white shirt-messy, expensive, and best followed by a deep breath and a spreadsheet.
What Happened
The SEC filing arrived like an unsolicited email from a former flame: “Just wanted to let you know I sold everything.” Goodman Financial, based in Houston (of course), unloaded 283,456 shares of ABM Industries for $13.07 million. The average closing price? A number so precise it might as well be a social security digit. I half-expected a follow-up about rebalancing their portfolio or, worse, a holiday card.
What Else to Know
Goodman’s top holdings now read like a grocery list for a hedge fund potluck:
- NYSEMKT: SPDW: $36.34 million (6.9% of AUM)
- NASDAQ: VCSH: $31.52 million (6.0% of AUM)
- NASDAQ: NXT: $28.75 million (5.4% of AUM)
- NASDAQ: VMBS: $23.61 million (4.5% of AUM)
- NYSE: SCHW: $19.80 million (3.7% of AUM)
As of Friday, ABM shares sat at $44.12, a 13% drop over the past year. Meanwhile, the S&P 500 sipped champagne. I’m no psychologist, but I’d bet Goodman’s portfolio managers are currently reevaluating their life choices. Or at least their stock screeners.
Company Overview
| Metric | Value |
|---|---|
| Price (as of Monday) | $44.12 |
| Market capitalization | $2.70 billion |
| Revenue (TTM) | $8.75 billion |
| Net income (TTM) | $162.40 million |
Company Snapshot
- ABM Industries cleans up after everyone else-offices, airports, schools. It’s the Jan Brady of facility services, doing the work while the S&P 500 sings backup.
- They sell services like “engineering” and “landscaping,” which sounds elegant until you realize it’s just people fixing toilets and hosing down parking garages. Poetic, really.
- International presence? Of course. Nothing says “global diversification” like mopping floors in Berlin and changing lightbulbs in Tokyo.
ABM’s business model is the financial equivalent of a good neighbor: reliable, unexciting, and quietly essential. They’ve been around long enough to know that free cash flow is the real MVP, even if the stock price isn’t.
What this transaction means for investors
ABM is the kind of stock that makes you wonder if “defensive” is code for “boring.” Goodman’s exit feels less like a panic sale and more like a strategic shrug. After all, the company just hit record revenue and handed shareholders a 9% dividend increase. But in a world where meme stocks outperform fundamentals, even solid companies get left at the altar.
Goodman’s portfolio, meanwhile, leans into ETFs and short-duration bonds like a recovering trader who’s finally learned to play the field. And let’s not forget their recent exit from LKQ Corporation-a move that screams “I’ll take my chances elsewhere” more than “I’ve lost faith.” It’s the financial equivalent of trading in your flannel for a blazer: same person, different priorities.
Glossary
13F reportable assets under management (AUM): The SEC’s way of saying, “Hey, we know what you’re up to.”
Quarter-end position: What you own on the last day of the quarter. Like a snapshot of your financial midlife crisis.
Exposure: How much of your portfolio is tied to a single asset. Or, as my mother calls it, “Putting all your eggs in one basket… and then forgetting where you left the basket.”
Stake: Ownership. Unless it’s a literal stake in a company that sells stakes. Which is confusing. But in a Sedaris-esque way.
Integrated facility solutions: A fancy term for “We clean up after you.” Also the title of my next memoir.
Contracted facility services: A contract? Services? Yes. And no. It’s a legal document as clear as a politician’s promise.
Segments: Business divisions. Like slices of a pie… if the pie were a corporation and the knife were a compliance officer.
TTM: The 12 months ending in whatever quarter you’re auditing. A time period so specific it could make a historian blush.
If there’s one takeaway, it’s this: Markets are a dance of numbers and narratives. Goodman’s exit isn’t a verdict-it’s a pivot. And as any trader knows, sometimes the best move is to step back, adjust your tie, and ask, “Where’s the next opportunity?” 🤑
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2026-01-09 18:12