Bollard Group Adjusts Portfolio
Bollard Group Adjusts Q1 Holdings, Trimming Duke Energy While Boosting Key Large-Cap Stocks
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Key Points
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Duke Energy: Bollard Group LLC held 177,644 shares after trimming 9,363, representing about 0.7% of Bollard's portfolio and ranking as the fund's 27th biggest holding, with the position valued at approximately $23.26 million.
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American Electric Power: Bollard Group LLC increased its stake to 421,308 shares after purchasing 27,618 shares, making AEP roughly 1.6% of Bollard's holdings and the 12th biggest position, valued at about $55.23 million.
3
Vanguard S&P 500 ETF: Bollard Group LLC raised its VOO stake by 29.1% to 8,744 shares, worth about $5.23 million.
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Kimberly-Clark: Bollard Group LLC boosted its position by 112.4% to 19,404 shares, with the holding valued at roughly $1.872 million.
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Bank of America: Bollard Group LLC increased its stake by 11.3% to 192,945 shares, valued at about $9.406 million.
Bollard Group LLC trimmed its Duke Energy stake by 5% in the first quarter, cutting 9,363 shares to hold 177,644 total. The position is now valued at about $23.26 million and ranks as the fund's 27th largest holding, according to Defense World.
The moves were not all cuts. Bollard also added heavily to American Electric Power, Kimberly-Clark, and Bank of America during the same period. The adjustments point to a deliberate reshuffling across utilities, consumer staples, and financials.
Duke Energy Trimmed as AEP Gets a Big Boost
Bollard sold 9,363 Duke Energy shares in Q1, bringing its total to 177,644. The position makes up about 0.7% of the fund's portfolio. Despite the trim, Duke Energy remains a meaningful holding — just a smaller one, per Defense World.
At the same time, Bollard added 27,618 shares of American Electric Power. That brings its AEP total to 421,308 shares, worth roughly $55.23 million. AEP is now the fund's 12th largest holding, making up about 1.6% of total assets.
Kimberly-Clark Position More Than Doubles in Q1
The most dramatic move was in Kimberly-Clark. Bollard boosted that position by 112.4%, ending the quarter with 19,404 shares. The holding is now valued at roughly $1.872 million, according to Defense World.
That kind of increase — more than doubling in a single quarter — signals strong conviction. Kimberly-Clark is a consumer staples giant known for steady dividends. It fits a pattern of Bollard adding defensive, income-generating stocks.
Bank of America and Vanguard ETF Stakes Also Rise
Bollard raised its Bank of America stake by 11.3%, reaching 192,945 shares worth about $9.41 million. The fund also bought more of the Vanguard S&P 500 ETF, lifting that position by 29.1% to 8,744 shares valued at $5.23 million, per Defense World.
The ETF purchase adds broad market exposure without picking individual stocks. Together, these moves show Bollard leaning into large-cap financials and index funds while pulling back slightly on one of its utility positions.
Merck Stake Also Grew as Fund Diversifies Further
Bollard also added to its Merck position during Q1, picking up 6,691 shares — a 5.1% increase. Its Merck holdings are now worth $16.69 million, bringing 138,765 shares into the portfolio, according to Defense World.
Merck adds healthcare exposure to a portfolio already spanning utilities, financials, and consumer staples. The overall picture is a fund spreading risk across defensive sectors while staying committed to large, established U.S. companies.
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