SHERWIN WILLIAMS CO

Sherwin-Williams Company (ticker SHW, CUSIP 824348106) is the largest paint and coatings manufacturer in North America, with a 40%-plus domestic market share in architectural paint, a dominant industrial and protective-coatings distribution network, and a global brand stretching across residential, commercial, and OEM segments. Its 13F institutional base is modest in holder count but large in dollar scale: ten institutions reported $26.94M in aggregate Q2 2026, with Confluence Investment Management alone accounting for $21.44M and 62,256 shares — 79.5% of the base. Confluence reduced its position by 4,194 shares (from 66,450 to 62,256) during Q2, a 6.3% trim. The positive valueChange of +$135K implies SHW stock appreciated during the quarter; Confluence's reduction is therefore a rotational booking of partial profits, not a defensive move against losses. Versant Capital Management cut 563 shares from 1,687 to 1,124, a 33% reduction with a value loss of $154K, the largest percentage reduction among meaningful holders. First Financial Bank reduced 868 shares (-$143K). MassMutual trimmed 225 shares (-$45K). Eastern Bank added 30 shares (+$11.4K), and Hilltop held 225 shares flat. Global Wealth Strategies held 7,684 shares flat with a $184K value gain. Noble Wealth opened a new $1.7K position at 5 shares. The net signal is broadly selling except for the Global/Hilltop/Hold cohort, suggesting established SHW holders are selectively trimming into appreciation.