Columbia Wanger (Trades, Portfolio) manages mutual funds for its clients, but it applies its disciplined, methodical approach to its own investment decisions as well. In the third quarter, that mostly meant selling part or all of stakes in its portfolio, although the firm did make some new investments, too.
Columbia Wanger (Trades, Portfolio)’s most attention-grabbing transaction of the third quarter was its reduction, by more than 47%, of its stake in SEI Investments Company (NASDAQ:SEIC), an Oaks, Pa.-based financial services company. Columbia Wanger (Trades, Portfolio) sold 3,986,132 shares for an average price of $50.9 per share. The deal had a -1.26% impact on Columbia Wanger (Trades, Portfolio)’s portfolio. Continue Reading »