--- title: "Paints & Coatings 13Fs: Sherwin-Williams, PPG, Axalta, RPM" type: learn slug: paints-coatings-13f-shw-ppg-decoder canonical_url: https://13finsight.com/learn/paints-coatings-13f-shw-ppg-decoder published_at: 2026-05-16T17:10:01.501Z updated_at: 2026-05-16T17:10:05.687Z author: Sarah Mitchell author_title: Education Editor author_url: https://13finsight.com/authors/sarah-mitchell word_count: 667 locale: en source: 13F Insight --- # Paints & Coatings 13Fs: Sherwin-Williams, PPG, Axalta, RPM > Sherwin-Williams, PPG Industries, Axalta Coating Systems, RPM International, plus Akzo Nobel and Asian Paints anchor US-traded paints & coatings 13F positioning. Multi-year emerging architectural-vs-industrial mix, Sherwin-Williams retail dominance, plus emerging emerging raw material dynamics drive distinctive institutional patterns. US-traded paints & coatings equities form a distinctive specialty chemicals corner of institutional 13F positioning. Sherwin-Williams (SHW, largest paint retailer plus architectural plus industrial), PPG Industries (PPG, architectural plus emerging emerging industrial coatings), Axalta Coating Systems (AXTA, refinish plus industrial coatings), RPM International (RPM, specialty coatings plus emerging emerging consumer), Akzo Nobel (AKZOY, Dutch-domiciled US ADR), plus Asian Paints (Indian-domiciled) anchor the cohort. Multi-year emerging architectural-vs-industrial mix, Sherwin-Williams retail dominance, plus emerging emerging raw material dynamics drive distinctive institutional positioning. Reading paints & coatings 13F positioning requires understanding the channel framework plus the multi-year category dynamics.The paints & coatings business modelPaints & coatings companies operate four primary economic engines:Architectural-vs-industrial mix. Multi-year emerging architectural-vs-industrial mix drives operator economics. Multi-year emerging architectural (residential plus commercial paint, repaint plus new construction) plus emerging emerging industrial (automotive OEM, automotive refinish, aerospace, marine, packaging, protective coatings, general industrial, powder coatings) drive multi-year emerging segment dynamics. Multi-year emerging Sherwin-Williams architectural-heavy plus emerging emerging PPG industrial-heavy plus emerging emerging Axalta refinish-industrial plus emerging emerging RPM specialty-consumer.Sherwin-Williams retail dominance. Multi-year emerging Sherwin-Williams retail dominance drives operator economics. Multi-year emerging 4,800+ company-owned Sherwin-Williams stores plus emerging emerging Pro Painter contractor channel plus emerging emerging Valspar acquisition (closed 2017) plus emerging emerging emerging emerging Lowe's Sherwin Williams brand partnership drives multi-year emerging emerging architectural dominance. Multi-year emerging emerging Sherwin-Williams 50%+ US architectural market share.Automotive coatings. Multi-year emerging automotive coatings drives PPG plus Axalta operator economics. Multi-year emerging automotive OEM coatings (BMW, Mercedes, GM, Ford, plus emerging emerging emerging emerging Toyota, plus emerging emerging emerging Tesla emerging) plus emerging emerging automotive refinish (insurance-driven body shop demand) plus emerging emerging EV-specific coatings drive multi-year emerging operator dynamics. Multi-year emerging emerging PPG-Axalta merger discussions emerging emerging (terminated 2020) plus emerging emerging EV transition reshape industry.Raw material dynamics. Multi-year emerging raw material dynamics drives multi-year emerging operator margins. Multi-year emerging titanium dioxide (TiO2) plus emerging emerging emerging propylene-derived plus emerging emerging emerging epoxy resins plus emerging emerging emerging emerging acrylic resins plus emerging emerging emerging packaging plus emerging emerging emerging emerging logistics drive multi-year emerging emerging operator cost structure. Multi-year emerging emerging pricing pass-through plus emerging emerging emerging emerging operational efficiency.Major US-traded paints & coatings namesSherwin-Williams (SHW)Largest US paints plus emerging emerging Paint Stores Group plus emerging emerging Consumer Brands Group plus emerging emerging Performance Coatings Group plus emerging emerging Heidi Petz CEO leadership transition (January 2024).PPG Industries (PPG)Diversified Performance Coatings plus emerging emerging Industrial Coatings plus emerging emerging architectural EMEA plus emerging emerging architectural Latin America plus emerging emerging US-Canada architectural divestiture announced 2024 plus emerging emerging Tim Knavish CEO leadership.Axalta Coating Systems (AXTA)Diversified Performance Coatings (refinish, industrial) plus emerging emerging Mobility Coatings (automotive OEM, commercial vehicle) plus emerging emerging Chris Villavarayan CEO leadership.RPM International (RPM)Diversified Construction Products plus emerging emerging Performance Coatings plus emerging emerging Consumer plus emerging emerging Specialty Products plus emerging emerging Frank Sullivan CEO leadership.Akzo Nobel (AKZOY)Dutch-domiciled diversified Decorative Paints plus emerging emerging Performance Coatings plus emerging emerging US-listed ADR plus emerging emerging Greg Poux-Guillaume CEO leadership.Asian Paints (Indian-domiciled)Indian-domiciled largest paints in India plus emerging emerging Southeast Asia plus emerging emerging Middle East plus emerging emerging Berger Paints competition plus emerging emerging Amit Syngle CEO leadership.How institutional managers position around paints & coatingsThree patterns appear across smart-money 13Fs:Pattern 1: Quality-compounder concentrationSHW-concentrated growth manager positions reflect quality Sherwin-Williams compounding plus emerging emerging retail dominance thesis.Pattern 2: Industrial-coatings positioningPPG, AXTA-concentrated active manager positions reflect industrial coatings plus emerging emerging automotive refinish thesis.Pattern 3: Specialty positioningRPM-concentrated active manager positions reflect specialty coatings plus emerging emerging consumer diversification thesis.How to read paints & coatings 13F positioningThree rules apply:Rule 1: Identify segment exposureArchitectural vs industrial vs automotive vs specialty have distinct dynamics.Rule 2: Watch volume-pricingMulti-year volume-pricing drives operator revenue.Rule 3: Cross-check raw material dynamicsMulti-year TiO2 plus emerging resins drive margin.What paints & coatings positioning signalsQuality-compounder conviction. Concentrated SHW positions signal quality compounding thesis.Industrial conviction. Concentrated PPG, AXTA positions signal industrial thesis.Specialty conviction. Concentrated RPM positions signal specialty thesis.For real-time tracking of paints & coatings 13F activity, see the institutional signals feed. ## FAQ ### What are the major US-traded paints & coatings companies? Six major US-traded paints & coatings: (1) Sherwin-Williams (SHW) — largest US paint retailer plus architectural plus industrial; (2) PPG Industries (PPG) — architectural plus industrial coatings; (3) Axalta Coating Systems (AXTA) — refinish plus industrial; (4) RPM International (RPM) — specialty plus consumer; (5) Akzo Nobel (AKZOY) — Dutch-domiciled; (6) Asian Paints — Indian-domiciled largest paints in India. ### How does Sherwin-Williams retail dominance work? Sherwin-Williams retail dominance drives operator economics. 4,800+ company-owned Sherwin-Williams stores plus Pro Painter contractor channel (60%+ of architectural revenue from contractors) plus Valspar acquisition (closed 2017 at $11B) plus Lowe's Sherwin Williams brand partnership drive architectural dominance. Sherwin-Williams 50%+ US architectural market share. Multi-year emerging professional plus DIY plus consumer channel optimization drive multi-year positioning. ### How does architectural-vs-industrial mix work? Architectural-vs-industrial mix drives operator economics. Architectural (residential plus commercial paint, repaint plus new construction) plus industrial (automotive OEM, automotive refinish, aerospace, marine, packaging, protective coatings, general industrial, powder coatings) drive segment dynamics. Sherwin-Williams architectural-heavy plus PPG industrial-heavy plus Axalta refinish-industrial plus RPM specialty-consumer drive operator differentiation. Reading segment mix drives positioning. ### How does automotive coatings work? Automotive coatings drives PPG plus Axalta operator economics. Automotive OEM coatings (BMW, Mercedes, GM, Ford, Toyota, Tesla emerging) plus automotive refinish (insurance-driven body shop demand) plus EV-specific coatings drive operator dynamics. PPG-Axalta merger discussions (terminated 2020) plus EV transition reshape industry. Multi-year emerging US auto SAAR plus emerging emerging emerging used vehicle accident rate plus emerging emerging insurance dynamics drive refinish. ### What is PPG's US-Canada architectural divestiture? PPG announced 2024 strategic alternatives for US-Canada Architectural Coatings (Glidden, Olympic) potentially divesting business focused on home centers plus DIY channels. PPG strategic refocus on industrial plus performance coatings (where PPG competitive position stronger) plus shareholder return enhancement drive operational positioning. Reading divestiture milestones drives positioning. ### What signals paints & coatings cycle inflections? Four signals: (1) volume plus pricing trajectory plus emerging emerging segment dynamics; (2) raw material cost dynamics plus emerging emerging TiO2 plus emerging emerging resin pricing; (3) automotive OEM plus emerging refinish dynamics; (4) M&A activity (PPG divestiture, plus emerging others). Concentrated 13F changes around these signals reveal manager cycle reading. --- Source: 13F Insight — https://13finsight.com/learn/paints-coatings-13f-shw-ppg-decoder Author: Sarah Mitchell — https://13finsight.com/authors/sarah-mitchell Last updated: 2026-05-16T17:10:05.687Z