Keel Point Portfolio Adjustments
Keel Point Cuts Holdings in Four Major Stocks While Other Institutions Boost Exposure
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Key Points
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Accenture holdings saw several new stakes by smaller funds and a notable increase by a minor holder: Triumph Capital Management opened a new ACN stake in Q3 (~$26,000); Laurel Wealth Advisors LLC opened a new position in Q4 (~$27,000); McMillan Office Inc. opened a new stake in Q4 (~$27,000); University of Texas Texas AM Investment Management Co. opened a new stake in Q4 (~$27,000); and Private Wealth Management Group LLC increased its ACN stake by 96.4% in Q4 to 108 shares (~$29,000).
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Expeditors International: Edgestream Partners L.P. boosted its EXPD stake by 348.8% in the quarter to 14,371 shares (roughly $2.06 million), while Amundi increased its EXPD position by 41.4% to 1,384,347 shares (about $198.28 million). Institutional ownership remains dominant, with about 94.02% of the stock held by institutions.
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Sherwin-Williams: Norges Bank opened a new stake in SHW during the 4th quarter valued at roughly $1.09 billion, signaling continued heavy sovereign-wealth-fund exposure; in addition, major institutions increased exposure: Vanguard Group (+2.7% to 23,237,824 shares), State Street Corp (+2.4% to 15,638,974), Geode Capital Management (+0.7% to 5,231,615), and Viking Global Investors (+10.1% to 3,172,308 shares).
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Merck & Co.: Keel Point trimmed 23.6% of its MRK stake, but other large investors expanded their positions: D.A. Davidson & Co. increased by 4.4% to 576,959 shares; Farther Finance Advisors LLC rose 48.9% to 97,818 shares; Norris Perne & French LLP MI increased 12.8% to 252,162 shares; CIBC World Markets Inc. raised its stake by 32.6% to 1,301,744 shares.
Keel Point LLC trimmed stakes across several major stocks in the first quarter of 2025, cutting positions in companies spanning technology, transportation, chemicals, and pharmaceuticals. The wealth management firm's 13F filings show reductions ranging from 13% to nearly 28%, according to Watchlist News.
The cuts hit Accenture (down 23.3% to 16,510 shares, worth about $3.27 million), Expeditors International (down 27.3% to 23,225 shares, worth $3.33 million), Sherwin-Williams (down 13.2% to 10,349 shares, worth $3.32 million), and Merck (down 23.6% to 39,387 shares, worth $4.74 million). Procter & Gamble and Lowe's also saw cuts of 23.7% and 20.7%, respectively, per Watchlist News.
Keel Point Trims Accenture and Transportation Stakes
Keel Point sold roughly 5,000 shares of Accenture in Q1, bringing its total to 16,510 shares. Even as Keel Point pulled back, smaller funds moved in. Triumph Capital Management opened a new Accenture stake in Q3, worth about $26,000. Laurel Wealth Advisors, McMillan Office, and UT Texas A&M Investment Management all opened new positions in Q4, each worth around $27,000, per Watchlist News.
On the transportation side, Keel Point cut its Expeditors International stake by 27.3% to 23,225 shares. But other investors saw an opportunity. Edgestream Partners boosted its Expeditors position by 348.8% in the quarter, reaching 14,371 shares worth about $2.06 million. Amundi went even bigger, raising its stake by 41.4% to 1,384,347 shares — valued at roughly $198.28 million. About 94% of Expeditors stock is now held by institutions, according to Watchlist News.
Norges Bank Opens $1.09 Billion Sherwin-Williams Stake
Keel Point cut its Sherwin-Williams position by 13.2%, but the biggest move in the stock came from a sovereign wealth fund. Norway's Norges Bank opened a brand-new stake in Sherwin-Williams worth roughly $1.09 billion in the fourth quarter. That kind of bet signals strong long-term confidence in the paint and coatings giant.
Other large institutions also added shares. Vanguard Group raised its position by 2.7% to 23,237,824 shares. State Street Corp grew its stake by 2.4% to 15,638,974 shares. Viking Global Investors jumped 10.1% to 3,172,308 shares. Overall, about 77.67% of Sherwin-Williams stock is owned by hedge funds and other institutions, per Watchlist News.
Merck and Consumer Names Also See Keel Point Cuts
Keel Point trimmed its Merck stake by 23.6%, dropping to 39,387 shares valued at about $4.74 million. Other investors moved the opposite way. CIBC World Markets raised its Merck stake by 32.6% to 1,301,744 shares. Farther Finance Advisors grew its position by 48.9% to 97,818 shares. D.A. Davidson added 4.4%, reaching 576,959 shares, according to Watchlist News.
Keel Point also sold 3,616 shares of Procter & Gamble, a 23.7% cut, leaving it with 11,668 shares. It sold 2,727 shares of Lowe's, a 20.7% reduction, leaving 10,446 shares. Illinois Tool Works saw an 18% cut, dropping to 13,924 shares. Across all these names, the pattern is consistent: Keel Point is lightening up while many larger institutions continue to build positions, per Watchlist News.
Broad Institutional Ownership Stays Strong Despite Rebalancing
Keel Point's selling does not signal a mass exit from these stocks. Institutional ownership remains high across the board. Expeditors International sits at roughly 94% institutional ownership. Sherwin-Williams is close behind at about 77.67%. Big names like Vanguard, State Street, and Geode Capital Management continue to hold or grow large positions in these companies.
What Keel Point's filings show is routine portfolio rebalancing — not panic selling. The firm is trimming across sectors, from tech consulting to home improvement to pharmaceuticals. Meanwhile, a wave of new and expanding investors is stepping in to fill the gaps, keeping institutional interest in these large-cap stocks firmly intact, according to Watchlist News.
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