Martingale Asset Management Trims Bristol Myers Squibb Stake

Institutional investor reduces position in pharmaceutical company by 8.4%

Mar. 13, 2026 at 10:53am

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Martingale Asset Management L.P. has reduced its stake in Bristol Myers Squibb Company (NYSE:BMY) by 8.4% during the third quarter, according to a recent disclosure with the Securities and Exchange Commission (SEC). The fund now owns 482,192 shares of the biopharmaceutical company's stock, valued at $21.7 million.

Why it matters

This move by Martingale Asset Management reflects broader shifts in institutional investor sentiment around Bristol Myers Squibb. The pharmaceutical company has faced some challenges, including a recent earnings miss, but remains a major player in the biopharmaceutical industry.

The details

According to the SEC filing, Martingale Asset Management sold 44,131 shares of Bristol Myers Squibb during the third quarter. The fund now holds a position valued at $21.7 million, down from $23.7 million at the end of the prior quarter. Several other institutional investors have also adjusted their stakes in Bristol Myers Squibb in recent quarters.

  • Martingale Asset Management reduced its Bristol Myers Squibb position during the third quarter of 2026.

The players

Martingale Asset Management L.P.

An institutional investment management firm that has reduced its stake in Bristol Myers Squibb.

Bristol Myers Squibb Company

A major biopharmaceutical company headquartered in Princeton, New Jersey.

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The takeaway

This filing highlights the ongoing shifts in institutional investor sentiment around Bristol Myers Squibb, as the company navigates industry challenges and opportunities. The reduction in Martingale's position reflects the broader volatility in the stock, which investors will continue to monitor closely.