LGT Fund Portfolio Shuffle
LGT Fund Management Rebalances Portfolio, Trimming S&P Global While Growing UBS and Energy Stakes
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Key Points
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SPGI: In addition to LGT's trimming, other institutions added new SPGI positions in Q4, including Joseph Group Capital Management (new position valued at about $29,000), North Star Investment Management Corp. (raised to 61 shares worth about $32,000), Palladiem LLC (new stake about $36,000), Palisade Asset Management LLC (new stake about $36,000), and Swiss RE Ltd. (new position about $39,000).
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UBS Group holding: LGT's UBS stake grew 41.2% to 415,512 shares, representing roughly 0.7% of its portfolio and ranking as the fund's 28th-biggest position, with a value of about $15.97 million.
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Sherwin-Williams: Norges Bank purchased a new SHW position in the fourth quarter worth about $1.089 billion, indicating strong international interest alongside major holders like Viking Global Investors, Balyasny Asset Management, Vanguard, and UBS AM.
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Marathon Petroleum: LGT's MPC stake jumped 2,357.4% to 35,706 shares, valued at about $8.72 million; multiple brokerages have raised MPC targets (Morgan Stanley to 265, JPMorgan to 257, Wells Fargo overweight, TD Cowen to 315), signaling bullish sentiment around the stock.
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S&P Global market context: SPGI traded down about $2.81 to $430.15 during midday trading, with a market cap near $127.32 billion, a price-earnings ratio of 27.22, a P/E/G of 1.84, and a beta of 1.08, highlighting ongoing sector-wide institutional activity around the name.
LGT Fund Management slashed its stake in S&P Global by 56.1% in the first quarter, cutting to just 17,109 shares worth about $7.28 million, according to Watchlist News. At the same time, the firm made big bets elsewhere — most notably a stunning 2,357.4% jump in its Marathon Petroleum position.
The moves point to a deliberate rebalancing across sectors. LGT shifted weight from financials into energy and materials, signaling a change in where the fund sees the best opportunity right now.
LGT's Marathon Petroleum Bet Jumps 2,357%
LGT's most dramatic move was in Marathon Petroleum. The fund grew its MPC stake from a tiny position to 35,706 shares, now worth about $8.72 million. That's a 2,357.4% increase in a single quarter, per Ticker Report.
Wall Street is bullish on the stock too. Morgan Stanley raised its MPC price target to $265. JPMorgan moved to $257. Wells Fargo rates it overweight. TD Cowen went even higher, setting a target of $315. Multiple big banks upgrading a stock at the same time is a strong signal of confidence.
UBS Stake Grows While S&P Global Gets Cut
While LGT dumped more than half its S&P Global shares, it added heavily to UBS Group. The fund now holds 415,512 UBS shares worth about $15.97 million — a 41.2% increase. UBS is now LGT's 28th-largest position and makes up roughly 0.7% of its total portfolio, according to Watchlist News.
S&P Global shares traded down about $2.81 to $430.15 during midday trading. The stock carries a market cap near $127.32 billion and a price-to-earnings ratio of 27.22. Its beta of 1.08 means it moves slightly more than the broader market. Despite LGT trimming, other institutions kept buying — small new positions came from firms like Joseph Group Capital Management and Swiss RE Ltd.
Sherwin-Williams Draws Billions in New Money
LGT also nearly doubled its Sherwin-Williams position, raising it by 97.0% to 22,357 shares worth about $7.17 million. But the headline move in SHW came from elsewhere. Norges Bank — Norway's massive sovereign wealth fund — opened a brand-new position worth about $1.089 billion in the fourth quarter, according to Watchlist News.
Norges Bank joins a list of major holders in Sherwin-Williams that includes Viking Global Investors, Balyasny Asset Management, Vanguard, and UBS AM. That kind of global institutional pile-in signals strong conviction in the materials sector heading into the rest of 2025.
A Portfolio Reshaping Across Three Sectors
Taken together, LGT's Q1 moves show a clear pattern. The fund pulled back from a high-priced financial data company and pushed more chips into energy, materials, and banking. Its Realty Income holding also surged — up 3,427.9% to 139,071 shares, per Ticker Report — adding real estate to the mix.
LGT also raised its Boston Scientific stake by 61.7% to 95,955 shares, worth about $6.02 million, and grew its Jack Henry & Associates position by 25.4%, adding 5,354 shares. The fund is spreading risk across healthcare, fintech, energy, and real estate — a broad defensive and growth blend heading into a volatile market.
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