GENERAL DYNAMICS CORP GD
COM · Common Stock · CUSIP 369550108 · ISIN US3695501086
American aerospace and defense manufacturing conglomerate
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($774.9m this quarter). Holder counts are more reliable. Shares outstanding: 274.4m as of 2023-01-29, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $247.79. Options: 30 managers hold calls ($409.7m notional), 30 hold puts ($335.7m).
Trends to Q4 2022
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,440 |
| Q4 2022 | 1,578 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $317.4m | $187.0m | 0.59 |
| Q4 2022 | $409.7m | $335.7m | 0.82 |
Biggest buyers
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +1.0m |
| JPMORGAN CHASE & CO | Added | +624.1k |
| MILLENNIUM MANAGEMENT LLC | Added | +560.4k |
| UBS Group AG | Added | +287.4k |
| MORGAN STANLEY | Added | +282.4k |
| DEUTSCHE BANK AG\ | Added | +279.3k |
| VANGUARD GROUP INC | Added | +279.1k |
| D. E. Shaw & Co., Inc. | Added | +211.5k |
| NORGES BANK | Added | +202.5k |
| Employees Retirement System of Texas | New | +138.0k |
Biggest sellers
| JANUS HENDERSON GROUP PLC | Reduced | -2.7m |
| LONGVIEW ASSET MANAGEMENT, LLC | Reduced | -1.8m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -1.0m |
| Invesco Ltd. | Reduced | -358.8k |
| Newport Trust Company, LLC | Reduced | -312.6k |
| Aristotle Capital Management, LLC | Reduced | -230.0k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -215.3k |
| BRANDES INVESTMENT PARTNERS, LP | Reduced | -182.1k |
| Cullen Capital Management, LLC | Reduced | -169.2k |
| JANE STREET GROUP, LLC | Reduced | -143.0k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $104.5m421.3k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $77.8m313.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $67.0m269.9k shares |
| JANE STREET GROUP, LLC | Added | $40.6m163.7k shares |
| GROUP ONE TRADING LLC | Reduced | $24.6m99.0k shares |
| PEAK6 Investments LLC | Added | $20.3m81.8k shares |
| Capula Management Ltd | New | $16.0m64.4k shares |
| WOLVERINE TRADING, LLC | Added | $15.0m60.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $7.8m31.6k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $7.7m31.2k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $111.4m448.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $61.0m245.7k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $39.2m157.8k shares |
| SIMPLEX TRADING, LLC | Added | $28.6m115.3k shares |
| Capula Management Ltd | New | $16.0m64.5k shares |
| UBS Group AG | New | $12.4m50.0k shares |
| JANE STREET GROUP, LLC | Reduced | $11.8m47.6k shares |
| WOLVERINE TRADING, LLC | Added | $11.8m47.6k shares |
| GROUP ONE TRADING LLC | Added | $9.8m39.3k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $6.7m26.9k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| LONGVIEW ASSET MANAGEMENT, LLC 13D · may seek influence -1.0 pts · filed 2026-10-06 | 9.0% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.9% |
| BlackRock, Inc. 13G · institution filed 2026-07-28 | 6.4% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2022
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2021 | 0 | — | 0 | — | — |
| Q2 2021 | 0 | — | 0 | — | — |
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 1 | $417.8k | — |
| Q1 2022 | 0 | — | 1 | $567.1k | — |
| Q2 2022 | 0 | — | 1 | $2.5m | — |
| Q3 2022 | 0 | — | 3 | $24.4m | — |
| Q4 2022 | 0 | — | 0 | — | — |
None reported in Q4 2022.
Holders, Q4 2022
| Manager | Shares | Change |
|---|---|---|
| LONGVIEW ASSET MANAGEMENT, LLC 97.33% of their portfolio | 28.3m $7.0bn | Reduced -1.8m |
| VANGUARD GROUP INC 0.15% of their portfolio | 22.2m $5.5bn | Added +279.1k |
| Newport Trust Company, LLC 11.34% of their portfolio | 16.5m $4.1bn | Reduced -312.6k |
| BlackRock Inc. 0.12% of their portfolio | 15.8m $3.9bn | Reduced -128.3k |
| WELLINGTON MANAGEMENT GROUP LLP 0.69% of their portfolio | 13.9m $3.5bn | Reduced -1.0m |
| Capital Research Global Investors 0.80% of their portfolio | 10.7m $2.6bn | Added +80.3k |
| STATE STREET CORP 0.14% of their portfolio | 9.9m $2.5bn | Reduced -98.0k |
| BANK OF AMERICA CORP /DE/ 0.30% of their portfolio | 9.7m $2.4bn | Reduced -105.0k |
| JPMORGAN CHASE & CO 0.27% of their portfolio | 7.7m $1.9bn | Added +624.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.61% of their portfolio | 7.1m $1.8bn | Added +1.0m |
| WELLS FARGO & COMPANY/MN 0.50% of their portfolio | 6.3m $1.6bn | Added +20.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.14% of their portfolio | 4.0m $982.7m | Added +29.5k |
| Aristotle Capital Management, LLC 1.71% of their portfolio | 3.3m $807.1m | Reduced -230.0k |
| ROYAL BANK OF CANADA 0.24% of their portfolio | 3.2m $788.6m | Added +89.9k |
| JANUS HENDERSON GROUP PLC 0.48% of their portfolio | 2.7m $669.0m | Reduced -2.7m |
| MORGAN STANLEY 0.07% of their portfolio | 2.6m $650.6m | Added +282.4k |
| NORGES BANK 0.15% of their portfolio | 2.4m $607.4m | Added +202.5k |
| NORTHERN TRUST CORP 0.12% of their portfolio | 2.4m $594.2m | Added +1.3k |
| FMR LLC 0.06% of their portfolio | 2.4m $586.5m | Reduced -76.4k |
| FRANKLIN RESOURCES INC 0.27% of their portfolio | 2.1m $517.2m | Reduced -25.9k |
| Invesco Ltd. 0.13% of their portfolio | 1.8m $458.8m | Reduced -358.8k |
| Bank of New York Mellon Corp 0.10% of their portfolio | 1.8m $439.8m | Reduced -90.0k |
| AMERIPRISE FINANCIAL INC 0.13% of their portfolio | 1.5m $382.6m | Reduced -10.2k |
| BANK OF MONTREAL /CAN/ 0.16% of their portfolio | 1.4m $338.8m | Added +123.4k |
| DIMENSIONAL FUND ADVISORS LP 0.11% of their portfolio | 1.3m $324.6m | Added +7.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.10% of their portfolio | 1.3m $322.6m | Added +16.5k |
| Capital International Investors 0.08% of their portfolio | 1.2m $307.9m | Added +52 |
| GOLDMAN SACHS GROUP INC 0.09% of their portfolio | 1.2m $303.0m | Added +111.1k |
| Legal & General Group Plc 0.11% of their portfolio | 1.2m $289.6m | Reduced -86.3k |
| FIRST TRUST ADVISORS LP 0.32% of their portfolio | 1.1m $271.9m | Reduced -132.5k |
| Boston Partners 0.35% of their portfolio | 1.1m $259.9m | Reduced -22.5k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.15% of their portfolio | 981.6k $243.6m | Reduced -34.5k |
| PRIMECAP MANAGEMENT CO/CA/ 0.22% of their portfolio | 950.6k $235.9m | Reduced -15.9k |
| Swiss National Bank 0.17% of their portfolio | 947.4k $235.1m | Reduced -75.0k |
| Nuveen Asset Management, LLC 0.08% of their portfolio | 844.1k $209.4m | Added +7.8k |
| TWO SIGMA ADVISERS, LP 0.56% of their portfolio | 812.6k $201.6m | Added +67.0k |
| MILLENNIUM MANAGEMENT LLC 0.22% of their portfolio | 808.3k $200.6m | Added +560.4k |
| DEUTSCHE BANK AG\ 0.12% of their portfolio | 807.9k $200.5m | Added +279.3k |
| UBS Group AG 0.09% of their portfolio | 733.6k $182.0m | Added +287.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.24% of their portfolio | 712.5k $176.8m | Reduced -57.3k |
| ProShare Advisors LLC 0.60% of their portfolio | 693.8k $172.1m | Reduced -63.4k |
| Sumitomo Mitsui Trust Group, Inc. 0.14% of their portfolio | 691.9k $171.7m | Reduced -27.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.09% of their portfolio | 671.4k $166.6m | Reduced -46.3k |
| PRUDENTIAL FINANCIAL INC 0.27% of their portfolio | 654.2k $162.3m | Added +125.8k |
| California Public Employees Retirement System 0.13% of their portfolio | 608.6k $151.0m | Added +56.9k |
| Cullen Capital Management, LLC 1.79% of their portfolio | 562.4k $139.5m | Reduced -169.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.07% of their portfolio | 529.9k $131.5m | Reduced -5.8k |
| TWO SIGMA INVESTMENTS, LP 0.39% of their portfolio | 493.0k $122.3m | Added +137.3k |
| RHUMBLINE ADVISERS 0.16% of their portfolio | 490.7k $121.7m | Added +14.7k |
| AQR CAPITAL MANAGEMENT LLC 0.26% of their portfolio | 465.4k $115.5m | Added +112.4k |
| PANAGORA ASSET MANAGEMENT INC 0.72% of their portfolio | 444.2k $110.2m | Added +19.9k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.26% of their portfolio | 441.2k $109.5m | Added +120.5k |
| BARCLAYS PLC 0.09% of their portfolio | 439.2k $109.0m | First filing |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.16% of their portfolio | 405.5k $100.6m | Added +973 |
| RAYMOND JAMES & ASSOCIATES 0.09% of their portfolio | 394.2k $97.8m | Reduced -2.9k |
| Markel Group Inc. 1.31% of their portfolio | 391.0k $97.0m | Unchanged |
| HSBC HOLDINGS PLC 0.12% of their portfolio | 389.3k $96.4m | Added +33.4k |
| National Pension Service 0.19% of their portfolio | 386.9k $96.0m | Added +6.9k |
| PNC Financial Services Group, Inc. 0.09% of their portfolio | 386.2k $95.8m | Reduced -808 |
| AGF MANAGEMENT LTD 0.67% of their portfolio | 373.2k $92.6m | First filing |
| TRUIST FINANCIAL CORP 0.16% of their portfolio | 368.5k $91.4m | Reduced -102.1k |
| D. E. Shaw & Co., Inc. 0.15% of their portfolio | 350.8k $87.0m | Added +211.5k |
| Thrivent Financial for Lutherans 0.22% of their portfolio | 348.1k $86.4m | Reduced -15.4k |
| PZENA INVESTMENT MANAGEMENT LLC 0.38% of their portfolio | 345.5k $85.7m | Unchanged |
| EQUITY INVESTMENT CORP 2.80% of their portfolio | 335.3k $83.2m | Reduced -8.2k |
| EDGAR LOMAX CO/VA 4.81% of their portfolio | 319.2k $79.2m | Reduced -1.9k |
| VICTORY CAPITAL MANAGEMENT INC 0.09% of their portfolio | 305.2k $75.7m | Added +10.4k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 300.4k $74.5m | Reduced -27.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 299.5k $74.3m | Added +178 |
| CREDIT SUISSE AG/ 0.08% of their portfolio | 290.5k $72.1m | Added +23.6k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.17% of their portfolio | 285.0k $70.7m | Reduced -2.5k |
| Saratoga Research & Investment Management 3.39% of their portfolio | 276.7k $68.6m | Reduced -75.7k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.16% of their portfolio | 271.1k $67.3m | Reduced -5.0k |
| Alyeska Investment Group, L.P. 0.69% of their portfolio | 268.2k $66.6m | Added +44.0k |
| STIFEL FINANCIAL CORP 0.10% of their portfolio | 268.1k $66.5m | Added +5.7k |
| Allspring Global Investments Holdings, LLC 0.11% of their portfolio | 265.9k $66.0m | Added +57.5k |
| Russell Investments Group, Ltd. 0.13% of their portfolio | 256.9k $63.7m | Added +13.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.05% of their portfolio | 254.4k $63.1m | Reduced -6.6k |
| Raymond James Financial Services Advisors, Inc. 0.12% of their portfolio | 247.1k $61.3m | Added +12.3k |
| HighTower Advisors, LLC 0.14% of their portfolio | 246.5k $61.0m | Added +42.1k |
| BRANDES INVESTMENT PARTNERS, LP 1.70% of their portfolio | 245.3k $60.9m | Reduced -182.1k |
| LPL Financial LLC 0.05% of their portfolio | 240.0k $59.6m | Added +23.7k |
| NATIXIS ADVISORS, LLC 0.22% of their portfolio | 231.6k $57.5m | Added +25.9k |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.32% of their portfolio | 227.4k $56.4m | Reduced -11.7k |
| Polaris Capital Management, LLC 1.93% of their portfolio | 223.1k $55.4m | Reduced -1.7k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.15% of their portfolio | 217.6k $54.1m | Added +15.3k |
| ZACKS INVESTMENT MANAGEMENT 0.75% of their portfolio | 216.4k $53.7m | Added +9.1k |
| Qube Research & Technologies Ltd 0.32% of their portfolio | 216.1k $53.6m | Added +106.3k |
| CITIGROUP INC 0.07% of their portfolio | 209.6k $52.0m | Added +14.0k |
| BLAIR WILLIAM & CO/IL 0.22% of their portfolio | 202.6k $50.3m | Added +1.2k |
| REGIONS FINANCIAL CORP 0.46% of their portfolio | 202.0k $50.1m | Reduced -2.9k |
| SEI INVESTMENTS CO 0.11% of their portfolio | 200.8k $49.8m | Reduced -36.7k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.08% of their portfolio | 195.3k $48.4m | Reduced -71.5k |
| Columbia Asset Management 0.97% of their portfolio | 194.6k $4.0m | Reduced -24.2k |
| WESTWOOD HOLDINGS GROUP INC 0.40% of their portfolio | 184.3k $45.7m | Reduced -1.9k |
| Janney Montgomery Scott LLC 0.18% of their portfolio | 182.7k $45.3m | Added +12.3k |
| Ceredex Value Advisors LLC 0.69% of their portfolio | 179.2k $44.5m | Reduced -82.6k |
| PAYDEN & RYGEL 2.31% of their portfolio | 174.3k $43.3m | Reduced -4.5k |
| EARNEST PARTNERS LLC 0.26% of their portfolio | 174.0k $43.2m | Added +3.3k |
| U S GLOBAL INVESTORS INC 2.55% of their portfolio | 173.2k $43.0m | Reduced -19.5k |