How to distribute stocks and mutual funds as per the will?

As per the will, the stocks and any other investments (like Mutual Funds, etc) needs to be divided between 4 beneficiaries (equally, i.e : 25% each). In the event of execution of the will, how will the distribution of this asset be done as per law? Scenario 1 Will all the stocks and bonds and other investments held in the name of the deceased will be liquidated and the proceeds from that be then distributed to the the beneficiaries in the ratio as mentioned in the will? Scenario 2 Or, will the title to shares and bonds and other investments be transferred to the beneficiary in the proportion as per the will? In Scenario 2, if the investments (overall) held by the deceased person was, say, 107 shares. How will that be divided between 4 people? 26*4 = 104 shares, what will happen to the balance 3 shares? Who will take over? Is there any provision that we can make in the will to address this situation? What is the best practice to adopt in such a case? Your swiftest and meticulous response in this regard will be of great help. Thank you.