Bollard Group LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Bollard Group LLC reported 268 stock positions worth $4.0 billion. Its top holding was Boston Scientific (BSX) at 47.7% of the portfolio, followed by Amazon.com (AMZN, 4.3%) and Microsoft (MSFT, 4.1%). Compared with Q2 2025, it opened 4 new positions, sold out of 29, added to 187 and reduced 14. The biggest buy was Alphabet Class C (GOOG, shares +2%) and the biggest sale an exit from State STR SPDR S&P 500 ETF T.
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001556218
- Portfolio Value
- $4.0B (Q3 2025)
- SEC Filing
- 0000929638-25-004264 ↗ filed Nov 14, 2025
Holdings Value
Holdings 268 stocks · $4.0B
| BSX Boston Scientific Corp. | 47.69% | 19,733,573 | $1.9B | Reduce -1.7% |
| AMZN Amazon.com Inc. | 4.27% | 785,989 | $172.6M | Add +0.8% |
| MSFT Microsoft Corp. | 4.14% | 322,656 | $167.1M | Add +2.4% |
| LLY Eli Lilly & Co. | 3.92% | 207,305 | $158.2M | Reduce -17.6% |
| GOOG Alphabet Inc. Class C | 2.90% | 481,810 | $117.3M | Add +1.8% |
| CAT Caterpillar Inc. | 2.68% | 226,762 | $108.2M | Add +5.3% |
| SCCO Southern Copper Corp. | 2.68% | 890,951 | $108.1M | Add +6.8% |
| IT Gartner Inc. | 1.96% | 301,347 | $79.2M | Reduce -17.3% |
| OKE Oneok Inc. | 1.63% | 903,304 | $65.9M | Add +5.9% |
| AEP American Electric Power | 1.56% | 560,129 | $63.0M | Add +5.7% |
| EPD Enterprise Products Partners | 1.46% | 1,880,964 | $58.8M | Add +6.6% |
| JPM JPMorgan Chase & Co. | 1.10% | 141,387 | $44.6M | Add +5.4% |
| SO The Southern Co. | 1.06% | 450,621 | $42.7M | Add +5.7% |
| MS Morgan Stanley | 1.02% | 259,424 | $41.2M | Add +5.5% |
| KKR KKR & Co. Inc. | 0.90% | 280,634 | $36.5M | Add +0.1% |
| PEG Public Service Enterprise GP | 0.85% | 409,924 | $34.2M | Add +6.0% |
| EMR Emerson Electric Co. | 0.79% | 244,093 | $32.0M | Add +5.2% |
| WMT Walmart Inc. | 0.78% | 307,384 | $31.7M | Add +5.1% |
| TMO Thermo Fisher Scientific Inc. | 0.74% | 62,001 | $30.1M | No change |
| DUK Duke Energy Corp. | 0.74% | 241,183 | $29.8M | Add +5.6% |
| NVDA Nvidia Corp. | 0.73% | 158,928 | $29.7M | Add +3.7% |
| DE Deere & Co. | 0.72% | 63,571 | $29.1M | Add +5.2% |
| MSGS Madison Square Garden Sports | 0.68% | 121,000 | $27.5M | No change |
| KMI Kinder Morgan Inc. | 0.63% | 899,538 | $25.5M | Add +6.0% |
| CVX Chevron Corp. | 0.57% | 147,119 | $22.8M | Add +6.0% |
| PAA Plains All Amer Pipeline LP | 0.51% | 1,211,631 | $20.7M | Add +7.1% |
| MPLX MPLX LP | 0.50% | 407,314 | $20.3M | Add +6.9% |
| KO The Coca-Cola Co. | 0.47% | 289,249 | $19.2M | Add +4.8% |
| TSLA Tesla Inc. | 0.45% | 40,647 | $18.1M | Add +3.1% |
| AAPL Apple Inc. | 0.42% | 67,221 | $17.1M | Add +2.0% |
| META Meta Platforms Inc. Class A | 0.42% | 23,030 | $16.9M | Add +3.6% |
| PSX Phillips 66 | 0.39% | 116,924 | $15.9M | Add +4.6% |
| ET Energy Transfer LP | 0.39% | 915,169 | $15.7M | Add +6.9% |
| MRK Merck & Co. Inc. | 0.36% | 173,367 | $14.6M | Add +4.6% |
| ENB Enbridge Inc. | 0.36% | 286,920 | $14.5M | Add +5.9% |
| COP Conocophillips | 0.35% | 148,297 | $14.0M | Add +4.5% |
| PM Philip Morris International | 0.33% | 83,320 | $13.5M | Add +5.6% |
| JNJ Johnson & Johnson | 0.33% | 72,846 | $13.5M | Add +5.3% |
| ABT Abbott Laboratories | 0.31% | 94,289 | $12.6M | Add +3.8% |
| V Visa Inc. Class A | 0.31% | 36,744 | $12.5M | Add +5.0% |
| BP BP PLC-Spons ADR | 0.30% | 356,614 | $12.3M | Add +5.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.28% | 18,549 | $11.1M | Add +0.1% |
| VLO Valero Energy Corp. | 0.27% | 65,222 | $11.1M | Add +4.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.26% | 204,442 | $10.5M | Add +5.0% |
| FE Firstenergy Corp. | 0.26% | 228,352 | $10.5M | Add +5.5% |
| GS Goldman Sachs Group Inc. | 0.23% | 11,654 | $9.3M | Add +0.5% |
| LOW Lowe's Cos Inc. | 0.23% | 36,741 | $9.2M | Add +4.5% |
| FTS Fortis Inc. | 0.22% | 171,761 | $8.7M | Add +1.6% |
| VOO Vanguard S&P 500 ETF | 0.21% | 14,155 | $8.7M | Add +0.3% |
| GOOGL Alphabet Inc. Class A | 0.18% | 30,487 | $7.4M | Add +4.8% |
| T AT&T Inc. | 0.18% | 262,355 | $7.4M | Add +5.6% |
| UBER Uber Technologies Inc. | 0.18% | 74,561 | $7.3M | No change |
| NI Nisource Inc. | 0.18% | 166,873 | $7.2M | Add +5.8% |
| PLD Prologis Inc. | 0.17% | 60,042 | $6.9M | Reduce -5.7% |
| NDAQ Nasdaq Inc. | 0.16% | 72,906 | $6.4M | Add +0.3% |
| PPL PPL Corp. | 0.16% | 172,654 | $6.4M | Add +5.2% |
| KMB Kimberly-Clark Corp. | 0.15% | 48,754 | $6.1M | Add +1.1% |
| BMY Bristol-Myers Squibb Co. | 0.15% | 133,805 | $6.0M | Add +4.1% |
| IWF iShares Russell 1000 Growth | 0.14% | 12,341 | $5.8M | Add +0.1% |
| UNP Union Pacific Corp. | 0.13% | 23,018 | $5.4M | Add +5.4% |
| ORCL Oracle Corp. | 0.13% | 18,056 | $5.1M | Add +0.2% |
| TECX Tectonic Therapeutic Inc. | 0.12% | 302,953 | $4.8M | No change |
| HON Honeywell International Inc. | 0.12% | 22,191 | $4.7M | Add +5.0% |
| PEP Pepsico Inc. | 0.12% | 33,082 | $4.6M | Add +0.6% |
| GPC Genuine Parts Co. | 0.11% | 32,796 | $4.5M | Add +5.9% |
| ALL Allstate Corp. | 0.11% | 19,992 | $4.3M | Add +0.5% |
| NTR Nutrien Ltd. | 0.11% | 72,699 | $4.3M | Add +5.6% |
| RTX RTX Corp. | 0.10% | 23,979 | $4.0M | Add +0.3% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.09% | 12,138 | $3.8M | Add +0.2% |
| COST Costco Wholesale Corp. | 0.09% | 3,954 | $3.7M | Add +0.1% |
| WMB Williams Cos Inc. | 0.09% | 56,392 | $3.6M | Add +5.6% |
| CL Colgate-Palmolive Co. | 0.09% | 44,284 | $3.5M | Add +5.3% |
| XOM Exxon Mobil Corp. | 0.09% | 30,669 | $3.5M | Add +0.5% |
| MO Altria Group Inc. | 0.08% | 49,161 | $3.2M | Add +5.9% |
| MAS Masco Corp. | 0.08% | 43,973 | $3.1M | Add +0.4% |
| VZ Verizon Communications Inc. | 0.08% | 69,825 | $3.1M | Add +6.2% |
| MLPX Global X MLP & Energy Infras | 0.07% | 46,022 | $2.9M | Add +1.2% |
| PG The Procter & Gamble Co. | 0.07% | 18,433 | $2.8M | Add +5.3% |
| ACN Accenture PLC Class A | 0.06% | 10,301 | $2.5M | Add +0.6% |
| TPYP Tortoise North American Pipe | 0.06% | 68,861 | $2.5M | New |
| ED Consolidated Edison Inc. | 0.06% | 23,388 | $2.4M | Add +3.1% |
| ACRS Aclaris Therapeutics Inc. | 0.06% | 1,225,476 | $2.3M | Reduce -9.4% |
| HD Home Depot Inc. | 0.06% | 5,566 | $2.3M | Add +0.2% |
| DKNG Draftkings Inc. Class A | 0.06% | 59,417 | $2.2M | No change |
| AMLP Alerian MLP ETF | 0.05% | 46,698 | $2.2M | Reduce -2.0% |
| JCI Johnson Controls Internation | 0.05% | 19,629 | $2.2M | Add +0.3% |
| PAYX Paychex Inc. | 0.05% | 16,496 | $2.1M | Add +0.6% |
| LMT Lockheed Martin Corp. | 0.05% | 4,121 | $2.1M | No change |
| PRME Prime Medicine Inc. | 0.05% | 361,136 | $2.0M | No change |
| CLX Clorox Company | 0.05% | 16,129 | $2.0M | Add +5.9% |
| MDLZ Mondelez International Inc. Class A | 0.05% | 31,458 | $2.0M | Add +0.7% |
| MTCH Match Group Inc. | 0.05% | 54,875 | $1.9M | Add +0.6% |
| SHEL Shell PLC-ADR | 0.04% | 25,124 | $1.8M | Add +3.3% |
| NEE Nextera Energy Inc. | 0.04% | 23,226 | $1.8M | Add +3.5% |
| NGG National Grid PLC-SP ADR | 0.04% | 23,545 | $1.7M | Add +6.8% |
| BKH Black Hills Corp. | 0.04% | 27,645 | $1.7M | Add +2.6% |
| CVS CVS Health Corp. | 0.04% | 22,421 | $1.7M | Add +1.0% |
| ES Eversource Energy | 0.04% | 22,675 | $1.6M | Add +5.6% |
| RIO Rio Tinto PLC-Spon ADR | 0.03% | 20,201 | $1.3M | Reduce -9.3% |
| EOG EOG Resources Inc. | 0.03% | 11,747 | $1.3M | Add +0.8% |
Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T calls ($214.6M), ELI LILLY & CO calls ($523K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $6K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 216 | $6K | No change |
Total filed on the 13F, all lines: $4.0B.
Portfolio Sells Q2 2025 → Q3 2025
| STATE STR SPDR S&P 500 ETF T | Sold out | 0.00% | −3.61 |
| BSX Boston Scientific Corp. | Reduce -1.7% | 47.69% | −1.62 |
| IT Gartner Inc. | Reduce -17.3% | 1.96% | −1.41 |
| LLY Eli Lilly & Co. | Reduce -17.6% | 3.92% | −0.57 |
| BNTX Biontech SE-ADR | Sold out | 0.00% | −0.06 |
| ENTG Entegris Inc. | Sold out | 0.00% | −0.04 |
| RVTY Revvity Inc. | Sold out | 0.00% | −0.04 |
| SLDB Solid Biosciences Inc. | Sold out | 0.00% | −0.04 |
| INSM Insmed Inc. | Sold out | 0.00% | −0.04 |
| IRON Disc Medicine Inc. | Sold out | 0.00% | −0.04 |
| VERA Vera Therapeutics Inc. | Sold out | 0.00% | −0.03 |
| PD Pagerduty Inc. | Sold out | 0.00% | −0.03 |
| ESTC Elastic NV | Sold out | 0.00% | −0.03 |
| NRIX Nurix Therapeutics Inc. | Sold out | 0.00% | −0.03 |
| CNTA Centessa Pharmaceuticals Ltd. | Sold out | 0.00% | −0.03 |
| HELP Cybin Inc. | Sold out | 0.00% | −0.03 |
| TENB Tenable Holdings Inc. | Sold out | 0.00% | −0.03 |
| DT Dynatrace Inc. | Sold out | 0.00% | −0.02 |
| TYL Tyler Technologies Inc. | Sold out | 0.00% | −0.02 |
| NICE Nice Ltd. - Spon ADR | Sold out | 0.00% | −0.02 |
| COGT Cogent Biosciences Inc. | Sold out | 0.00% | −0.02 |
| DOCU Docusign Inc. | Sold out | 0.00% | −0.02 |
| ACVA Acv Auctions Inc. Class A | Sold out | 0.00% | −0.01 |
| CLDX Celldex Therapeutics Inc. | Sold out | 0.00% | −0.01 |
| FLYW Flywire Corp.-Voting | Sold out | 0.00% | −0.01 |
| ABEO Abeona Therapeutics Inc. | Sold out | 0.00% | −0.01 |
| OLO Olo Inc. Class A | Sold out | 0.00% | −0.00 |
| IOVA Iovance Biotherapeutics Inc. | Sold out | 0.00% | −0.00 |
| NOG Northern Oil and Gas Inc. | Sold out | 0.00% | −0.00 |
| DVN Devon Energy Corp. | Reduce -20.3% | 0.01% | −0.00 |
| D Dominion Energy Inc. | Sold out | 0.00% | −0.00 |
| TDW Tidewater Inc. | Reduce -50.0% | 0.00% | −0.00 |
| WHR Whirlpool Corp. | Sold out | 0.00% | −0.00 |
| UNIT Uniti Group Inc. | Reduce -0.1% | 0.00% | 0.00 |
| W Wayfair Inc. Class A | Sold out | 0.00% | 0.00 |
| BCE Bce Inc. | Reduce -8.1% | 0.01% | +0.00 |
| AMLP Alerian MLP ETF | Reduce -2.0% | 0.05% | +0.00 |
| BHP BHP Group Ltd.-Spon ADR | Reduce -9.9% | 0.01% | +0.00 |
| USB US Bancorp | Reduce -0.8% | 0.02% | +0.00 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -9.3% | 0.03% | +0.00 |
| RYN Rayonier Inc. | Reduce -0.8% | 0.02% | +0.01 |
| ACRS Aclaris Therapeutics Inc. | Reduce -9.4% | 0.06% | +0.01 |
| PLD Prologis Inc. | Reduce -5.7% | 0.17% | +0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| GOOG Alphabet Inc. Class C | Add +1.8% | 2.90% | +0.98 |
| CAT Caterpillar Inc. | Add +5.3% | 2.68% | +0.77 |
| SCCO Southern Copper Corp. | Add +6.8% | 2.68% | +0.75 |
| MSFT Microsoft Corp. | Add +2.4% | 4.14% | +0.55 |
| AMZN Amazon.com Inc. | Add +0.8% | 4.27% | +0.36 |
| AEP American Electric Power | Add +5.7% | 1.56% | +0.30 |
| MS Morgan Stanley | Add +5.5% | 1.02% | +0.23 |
| JPM JPMorgan Chase & Co. | Add +5.4% | 1.10% | +0.21 |
| EPD Enterprise Products Partners | Add +6.6% | 1.46% | +0.20 |
| NVDA Nvidia Corp. | Add +3.7% | 0.73% | +0.18 |
| SO The Southern Co. | Add +5.7% | 1.06% | +0.16 |
| TSLA Tesla Inc. | Add +3.1% | 0.45% | +0.16 |
| WMT Walmart Inc. | Add +5.1% | 0.78% | +0.13 |
| DUK Duke Energy Corp. | Add +5.6% | 0.74% | +0.12 |
| AAPL Apple Inc. | Add +2.0% | 0.42% | +0.11 |
| CVX Chevron Corp. | Add +6.0% | 0.57% | +0.11 |
| PEG Public Service Enterprise GP | Add +6.0% | 0.85% | +0.10 |
| JNJ Johnson & Johnson | Add +5.3% | 0.33% | +0.09 |
| PSX Phillips 66 | Add +4.6% | 0.39% | +0.09 |
| EMR Emerson Electric Co. | Add +5.2% | 0.79% | +0.09 |
| VLO Valero Energy Corp. | Add +4.8% | 0.27% | +0.08 |
| ENB Enbridge Inc. | Add +5.9% | 0.36% | +0.08 |
| BP BP PLC-Spons ADR | Add +5.6% | 0.30% | +0.07 |
| GOOGL Alphabet Inc. Class A | Add +4.8% | 0.18% | +0.07 |
| TPYP Tortoise North American Pipe | New | 0.06% | +0.06 |
| MRK Merck & Co. Inc. | Add +4.6% | 0.36% | +0.06 |
| KMI Kinder Morgan Inc. | Add +6.0% | 0.63% | +0.06 |
| FE Firstenergy Corp. | Add +5.5% | 0.26% | +0.06 |
| COP Conocophillips | Add +4.5% | 0.35% | +0.06 |
| MPLX MPLX LP | Add +6.9% | 0.50% | +0.05 |
| BAC Bank of America Corp. | Add +5.0% | 0.26% | +0.05 |
| LOW Lowe's Cos Inc. | Add +4.5% | 0.23% | +0.05 |
| KKR KKR & Co. Inc. | Add +0.1% | 0.90% | +0.05 |
| META Meta Platforms Inc. Class A | Add +3.6% | 0.42% | +0.04 |
| GS Goldman Sachs Group Inc. | Add +0.5% | 0.23% | +0.04 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.1% | 0.28% | +0.04 |
| OKE Oneok Inc. | Add +5.9% | 1.63% | +0.04 |
| PAA Plains All Amer Pipeline LP | Add +7.1% | 0.51% | +0.04 |
| ORCL Oracle Corp. | Add +0.2% | 0.13% | +0.04 |
| ET Energy Transfer LP | Add +6.9% | 0.39% | +0.03 |
| NI Nisource Inc. | Add +5.8% | 0.18% | +0.03 |
| PPL PPL Corp. | Add +5.2% | 0.16% | +0.03 |
| VOO Vanguard S&P 500 ETF | Add +0.3% | 0.21% | +0.03 |
| FTS Fortis Inc. | Add +1.6% | 0.22% | +0.03 |
| ABT Abbott Laboratories | Add +3.8% | 0.31% | +0.03 |
| KO The Coca-Cola Co. | Add +4.8% | 0.47% | +0.03 |
| GPC Genuine Parts Co. | Add +5.9% | 0.11% | +0.03 |
| V Visa Inc. Class A | Add +5.0% | 0.31% | +0.03 |
| IWF iShares Russell 1000 Growth | Add +0.1% | 0.14% | +0.02 |
| UNP Union Pacific Corp. | Add +5.4% | 0.13% | +0.02 |
Options Activity Q2 2025 → Q3 2025
| STATE STR SPDR S&P 500 ETF T | call | New | 1,536,900 | $214.6M |
| ELI LILLY & CO | call | New | 5,500 | $523K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| MZTI The Marzetti Company | COM | Sold out | 0 | $0before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 307 | $3.3B | BSX, CAT, LLY, AMZN, SPY |
| Q1 2026 | 302 | $3.3B | BSX, LLY, CAT, AMZN, SCCO |
| Q4 2025 | 288 | $3.8B | BSX, LLY, AMZN, MSFT, GOOG |
| Q3 2025 | 268 | $4.0B | BSX, AMZN, MSFT, LLY, GOOG |
| Q2 2025 | 293 | $4.4B | BSX, LLY, AMZN, STATE STR SPDR S&P 500 ETF T, MSFT |
| Q1 2025 | 284 | $3.8B | BSX, LLY, IT, AMZN, MSFT |
| Q4 2024 | 287 | $3.6B | BSX, LLY, IT, AMZN, MSFT |
| Q3 2024 | 303 | $3.8B | BSX, LLY, IT, AMZN, MSFT |
| Q2 2024 | 302 | $3.5B | BSX, LLY, IT, AMZN, MSFT |
| Q1 2024 | 303 | $3.3B | BSX, LLY, IT, AMZN, MSFT |