Robert Bruce's Strategic Moves: AT&T Inc. Sees a -1.41% Portfolio Impact

This article first appeared on GuruFocus.

Insightful Analysis of Robert Bruce (Trades, Portfolio)'s Third Quarter 2025 13F Filing

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Robert Bruce (Trades, Portfolio) recently submitted the 13F filing for the third quarter of 2025, providing insights into his investment moves during this period. Robert Bruce (Trades, Portfolio) is the founder of Bruce & Co, the investment firm that serves as the advisor to the Bruce Fund (BRUFX). The Bruce Fund is run by Robert Bruce (Trades, Portfolio) and his son, Robert Jeffrey Bruce. The Fund focuses primarily on common stock investments, though it also invests in high-yield and distressed debt. It may invest in some long-term U.S. government securities if the managers cannot find attractive opportunities elsewhere. The Fund invests mostly in small- and mid-cap stocks, with the occasional large-cap, as well as convertible and distressed bonds. The Bruces tend to hold their stocks for the long-term, generally preferring the securities of distressed companies that are trading at a significant discount but which they believe can make a turnaround.Robert Bruce's Strategic Moves: AT&T Inc. Sees a -1.41% Portfolio Impact

Key Position Increases

Robert Bruce (Trades, Portfolio) also increased stakes in a total of 2 stocks, among them:

The most notable increase was LyondellBasell Industries NV (NYSE:LYB), with an additional 20,000 shares, bringing the total to 60,000 shares. This adjustment represents a significant 50% increase in share count, a 0.3% impact on the current portfolio, with a total value of $2,942,400. The second largest increase was Fate Therapeutics Inc (NASDAQ:FATE), with an additional 300,000 shares, bringing the total to 729,188. This adjustment represents a significant 69.9% increase in share count, with a total value of $918,780.

Summary of Sold Out

Robert Bruce (Trades, Portfolio) completely exited 1 of the holdings in the third quarter of 2025, as detailed below:

LAVA Therapeutics NV (NASDAQ:LVTX): Robert Bruce (Trades, Portfolio) sold all 521,874 shares, resulting in a -0.22% impact on the portfolio.

Key Position Reduces

Robert Bruce (Trades, Portfolio) also reduced positions in 5 stocks. The most significant changes include:

Reduced AT&T Inc (NYSE:T) by 150,000 shares, resulting in a -22.29% decrease in shares and a -1.41% impact on the portfolio. The stock traded at an average price of $28.4 during the quarter and has returned -8.18% over the past 3 months and 18.37% year-to-date. Reduced CMS Energy Corp (NYSE:CMS) by 40,000 shares, resulting in a -20.41% reduction in shares and a -0.9% impact on the portfolio. The stock traded at an average price of $71.83 during the quarter and has returned 1.99% over the past 3 months and 14.98% year-to-date.

Story Continues

Portfolio Overview

At the third quarter of 2025, Robert Bruce (Trades, Portfolio)'s portfolio included 39 stocks, with top holdings including 9.14% in AbbVie Inc (NYSE:ABBV), 8.34% in Allstate Corp (NYSE:ALL), 7.36% in NextEra Energy Inc (NYSE:NEE), 7.12% in U-Haul Holding Co (NYSE:UHAL.B), and 6.88% in AerCap Holdings NV (NYSE:AER).Robert Bruce's Strategic Moves: AT&T Inc. Sees a -1.41% Portfolio Impact

The holdings are mainly concentrated in 9 of all the 11 industries: Healthcare, Utilities, Industrials, Financial Services, Consumer Defensive, Communication Services, Basic Materials, Technology, and Energy.Robert Bruce's Strategic Moves: AT&T Inc. Sees a -1.41% Portfolio Impact

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