Institutional Portfolio Adjustments
Kepler Cheuvreux Suisse SA Trims Major U.S. Stock Holdings in Q1 Amid Broader Investor Rebalancing
Key Points
Beyond Kepler Cheuvreux Suisse SA's 13.8% reduction in Mastercard (MA) to 77,206 shares, several other funds boosted MA exposure in Q1, including Howe & Rusling Inc. (+415 shares to 19,908; up 2.1%), Montrusco Bolton Investments Inc. (+107,093 shares to 489,843; up 28%), Private Wealth Partners LLC (+1,587 shares to 16,330; up 10.8%), Integral Investment Advisors Inc. (+205 shares to 1,016; up 25.3%), and Revisor Wealth Management LLC (+1,434 shares; up 2.4%).
Bank of America Corporation (BAC) was trimmed by 43.1% to 32,226 shares, and institutional ownership remains significant (70.71% of the stock). The report also notes new entrants or increased positions among other investors, including Abound Financial LLC (new stake), Legacy Bridge LLC (up to 511 shares), Wiser Advisor Group LLC (new position), CrossGen Wealth LLC (new position), and Joseph Group Capital Management (new position).
The Sherwin-Williams Company (SHW) position was reduced by 35.5% to 4,290 shares, with institutional ownership in the stock highlighted at 77.67%. Several smaller funds are noted as adding or trimming in SHW as well (e.g., CoreCap Advisors, Sowell Financial Services, Mather Group, Sapient Capital, Deseret Mutual Benefit Administrators).
Amphenol Corporation (APH) was trimmed by 25.6% to 76,984 shares, with 97.01% of APH stock currently owned by institutional investors and hedge funds.
AbbVie Inc. (ABBV) was reduced by 3.4% to 132,518 shares; ABBV now makes up 2.0% of Kepler Cheuvreux Suisse SA’s portfolio and is its 13th-largest position, with institutional ownership at about 70.23% of the stock.
Kepler Cheuvreux Suisse SA made broad cuts to its U.S. stock portfolio in the first quarter, trimming positions across financial, consumer, and industrial names. The Swiss institutional investor reduced its Mastercard stake by 13.8% to 77,206 shares, cut Bank of America by 43.1% to 32,226 shares, and slashed its Sherwin-Williams holding by 35.5% to 4,290 shares, according to Watchlist News.
The moves reflect a selective pullback rather than a full retreat. While Kepler Cheuvreux Suisse SA was selling, other institutional investors were actively buying into the same stocks — a split that shows how differently fund managers read the same market.
Mastercard and Bank of America Bear the Biggest Cuts
Mastercard remains Kepler Cheuvreux Suisse SA's 8th-largest holding, even after the 13.8% trim. The position is now 77,206 shares and makes up about 2.6% of the portfolio, per Watchlist News. Not everyone was selling, though. Howe & Rusling Inc. added 415 shares, bringing its total to 19,908. Montrusco Bolton Investments Inc. went further, buying 107,093 shares — a 28% jump to 489,843 shares.
The Bank of America cut was steeper. Kepler Cheuvreux Suisse SA dropped 43.1% of its position, leaving just 32,226 shares. Institutional investors still own 70.71% of BAC overall. Several new buyers entered the stock in Q1, including Abound Financial LLC, Wiser Advisor Group LLC, CrossGen Wealth LLC, and Joseph Group Capital Management — all taking fresh positions.
Sherwin-Williams and Amphenol See Significant Stake Reductions
Kepler Cheuvreux Suisse SA cut its Sherwin-Williams stake by 35.5%, landing at 4,290 shares. Institutional investors own 77.67% of the paint giant. The firm was not alone in adjusting here. CoreCap Advisors, Sowell Financial Services, and Mather Group were among other funds also shifting their SHW positions during the quarter.
Amphenol saw a 25.6% reduction, with Kepler Cheuvreux Suisse SA now holding 76,984 shares — a position worth roughly $9.73 million, according to Ticker Report. Amphenol stands out for its ownership profile: institutional investors and hedge funds control 97.01% of the electronics maker's stock, making it one of the most institutionally concentrated names in the portfolio.
AbbVie Trimmed Modestly as Drug Giant Stays in Top 15
AbbVie was the smallest cut of the group — just 3.4%, bringing the position to 132,518 shares. It now sits as the firm's 13th-largest holding and makes up 2.0% of the portfolio. Institutional investors own about 70.23% of ABBV stock overall, per Watchlist News.
The light trim suggests Kepler Cheuvreux Suisse SA still sees value in the pharmaceutical name, even as it pared back elsewhere. AbbVie's continued presence in the top 15 signals it remains a core position, not a name the firm is looking to exit.
New Boston Scientific Stake Points to Health Care Appetite
Amid all the selling, Kepler Cheuvreux Suisse SA opened at least one new position. The firm bought 17,109 shares of Boston Scientific Corporation in Q1, according to Ticker Report. The medical equipment maker marks a fresh bet on health care, even as the firm pulled back from pharma and financials elsewhere.
Taken together, Q1 was a quarter of repositioning for Kepler Cheuvreux Suisse SA — cutting size in high-conviction names while planting a flag in new territory. The pattern mirrors broader institutional behavior, where funds are trimming winners and scouting new entries rather than moving fully to cash.
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