Acadian Asset Management LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), Acadian Asset Management LLC reported 1,659 stock positions worth $48.4 billion. Its top holding was Nvidia (NVDA) at 4.4% of the portfolio, followed by Microsoft (MSFT, 3.1%) and Apple (AAPL, 2.9%). Compared with Q1 2025, it opened 278 new positions, sold out of 220, added to 654 and reduced 558. The biggest buy was Nvidia (NVDA, shares +44%) and the biggest sale Spotify Technology (SPOT, shares −40%).

Most Recent 13F
Q2 2026
Location
Boston, MA
CIK
0000916542
Portfolio Value
$48.4B (Q2 2025)
SEC Filing
0001140361-25-029365 ↗ filed Aug 7, 2025

Holdings Value

0$20.0B$40.0B$60.0B$80.0B$100.0B Q1 2024: $28.7B Q1 2024 Q2 2024: $32.5B Q2 2024 Q3 2024: $32.2B Q3 2024 Q4 2024: $34.5B Q4 2024 Q1 2025: $35.4B Q1 2025 Q2 2025: $48.4B $48.4B Q2 2025 Q3 2025: $57.3B Q3 2025 Q4 2025: $60.9B Q4 2025 Q1 2026: $70.5B Q1 2026 Q2 2026: $84.2B Q2 2026

Holdings 1,659 stocks · $48.4B

NVDA Nvidia Corp. 4.39% 13,471,111 $2.1B Add +44.1%
MSFT Microsoft Corp. 3.07% 2,989,189 $1.5B Add +60.0%
AAPL Apple Inc. 2.85% 6,740,997 $1.4B Add +41.4%
AMZN Amazon.com Inc. 2.45% 5,409,759 $1.2B Add +19.1%
GOOGL Alphabet Inc. Class A 2.27% 6,227,020 $1.1B Add +13.8%
META Meta Platforms Inc. Class A 2.15% 1,414,068 $1.0B Add +3.9%
MA Mastercard Inc. Class A 1.50% 1,293,103 $726.6M Add +72.1%
NFLX Netflix Inc. 1.47% 531,842 $712.2M Add +4.9%
ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS 1.42% 81,043,144 $687.2M Reduce -7.2%
SPOT Spotify Technology SA 1.36% 859,118 $659.2M Reduce -39.8%
SE Sea Ltd.-ADR 1.35% 4,080,726 $652.6M Reduce -14.6%
BKNG Booking Holdings Inc. 1.32% 110,862 $641.8M Reduce -2.3%
CHKP Check Point Software Tech 1.19% 2,611,247 $577.7M Reduce -6.0%
CL Colgate-Palmolive Co. 1.15% 6,124,347 $556.7M Add +42.9%
CRM Salesforce Inc. 1.11% 1,973,141 $538.0M Add +1729.6%
INFY Infosys Ltd.-SP ADR 1.11% 28,969,861 $536.8M Add +9.6%
LOGI Logitech International-Reg 1.06% 5,722,485 $513.5M Reduce -10.4%
V Visa Inc. Class A 1.03% 1,404,307 $498.6M Add +51.0%
CSCO Cisco Systems Inc. 0.96% 6,725,659 $466.6M Reduce -14.0%
MCK McKesson Corp. 0.96% 636,596 $466.4M Add +68.0%
BCS Barclays PLC-Spons ADR 0.87% 22,725,110 $422.4M Reduce -32.4%
T AT&T Inc. 0.87% 14,493,357 $419.4M Add +59.6%
ADBE Adobe Inc. 0.86% 1,073,899 $415.4M Add +218.5%
SU Suncor Energy Inc. 0.86% 11,082,344 $414.3M Reduce -10.8%
TMUS T-Mobile US Inc. 0.83% 1,694,184 $403.6M Add +33.8%
ABT Abbott Laboratories 0.81% 2,896,714 $393.9M Add +82.5%
PEP Pepsico Inc. 0.81% 2,969,635 $392.1M Add +175.7%
AVGO Broadcom Inc. 0.78% 1,362,125 $375.4M Add +112.3%
C Citigroup Inc. 0.74% 4,231,596 $360.2M Reduce -26.9%
COST Costco Wholesale Corp. 0.73% 357,672 $354.0M Add +108.5%
ABNB Airbnb Inc. Class A 0.72% 2,639,299 $349.3M Add +7.4%
CTAS Cintas Corp. 0.71% 1,540,424 $343.3M Add +7.7%
WIX Wix.com Ltd. 0.69% 2,119,805 $335.9M Add +0.4%
MRK Merck & Co. Inc. 0.68% 4,178,385 $330.7M Add +61.0%
MCO Moody's Corp. 0.68% 654,879 $328.4M Add +3.2%
VZ Verizon Communications Inc. 0.67% 7,524,376 $325.5M Reduce -11.5%
AMAT Applied Materials Inc. 0.65% 1,732,015 $317.1M Add +417.3%
EA Electronic Arts Inc. 0.61% 1,862,898 $297.5M Add +176.6%
ZM Zoom Communications Inc. 0.61% 3,769,480 $293.9M Add +41.1%
EQH Equitable Holdings Inc. 0.60% 5,203,375 $291.9M Reduce -10.1%
DB Deutsche Bank AG-Registered 0.60% 9,837,047 $290.6M Add +90.6%
FTNT Fortinet Inc. 0.60% 2,728,580 $288.4M Reduce -2.5%
CMCSA Comcast Corp. Class A 0.59% 7,948,050 $283.6M Add +4.6%
CAH Cardinal Health Inc. 0.58% 1,679,176 $282.1M Add +92.5%
BRK.B Berkshire Hathaway Inc. Class B 0.58% 574,851 $279.2M Reduce -28.3%
ASML ASML Holding NV-NY Reg SHS 0.55% 329,878 $264.3M Add +114.3%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.52% 241,997 $251.7M Add +17.1%
CVLT Commvault Systems Inc. 0.52% 1,438,743 $250.8M Reduce -4.4%
JNJ Johnson & Johnson 0.51% 1,617,173 $247.0M Add +34.7%
VIPS Vipshop Holdings Ltd. - ADR 0.51% 16,381,603 $246.5M Reduce -2.3%
INTU Intuit Inc. 0.51% 312,866 $246.4M Add +34.9%
VEEV Veeva Systems Inc. Class A 0.51% 850,020 $244.7M Add +36.8%
REGN Regeneron Pharmaceuticals 0.50% 465,740 $244.5M Add +234.7%
PG The Procter & Gamble Co. 0.50% 1,533,213 $244.2M Add +27.6%
GOOG Alphabet Inc. Class C 0.50% 1,374,672 $243.8M Add +138.8%
FFIV F5 Inc. 0.50% 820,092 $241.3M Reduce -1.1%
TSLA Tesla Inc. 0.49% 744,871 $236.6M Add +100.1%
ROKU Roku Inc. 0.49% 2,691,643 $236.5M Add +41.2%
DBX Dropbox Inc. Class A 0.46% 7,834,263 $224.0M Reduce -8.3%
QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC 0.46% 5,100,491 $221.1M Reduce -8.6%
NOW ServiceNow Inc. 0.45% 213,132 $219.1M Add +5.6%
MDB Mongodb Inc. 0.45% 1,033,531 $217.0M Add +83.8%
JPM JPMorgan Chase & Co. 0.41% 681,512 $197.6M Add +65.2%
TEAM Atlassian Corp. Class A 0.39% 925,771 $188.0M Reduce -2.7%
DASH DoorDash Inc. Class A 0.38% 747,253 $184.2M Reduce -26.0%
TRV The Travelers Cos Inc. 0.38% 683,347 $182.8M Reduce -24.0%
ANET Arista Networks Inc. 0.35% 1,676,022 $171.5M Reduce -24.6%
ICE Intercontinental Exchange Inc. 0.35% 920,303 $168.8M Add +80.5%
INCY Incyte Corp. 0.35% 2,478,870 $168.8M Reduce -1.3%
ADP Automatic Data Processing 0.35% 543,244 $167.5M Add +66.0%
PM Philip Morris International 0.33% 883,024 $160.8M Reduce -46.8%
QCOM Qualcomm Inc. 0.32% 983,515 $156.6M Add +189.5%
RSG Republic Services Inc. 0.32% 633,564 $156.2M Add +56.5%
EBAY eBay Inc. 0.32% 2,091,976 $155.7M Add +4.3%
LRCX Lam Research Corp. 0.32% 1,592,753 $155.0M Add +669.1%
WMT Walmart Inc. 0.32% 1,566,164 $153.1M Add +12.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.31% 3,163,896 $149.7M Reduce -2.4%
LLY Eli Lilly & Co. 0.31% 190,596 $148.6M Add +150.3%
RBLX Roblox Corp. Class A 0.30% 1,359,745 $143.0M Reduce -3.3%
AZN Astrazeneca PLC-Spons ADR 0.29% 2,043,850 $142.8M Add +2389.9%
BOX Box Inc. Class A 0.29% 4,137,447 $141.3M Add +36.4%
MRSH Marsh & McLennan Cos 0.29% 642,091 $140.4M Reduce -46.7%
WM Waste Management Inc. 0.29% 612,562 $140.2M Add +64.3%
RBRK Rubrik Inc. Class A 0.29% 1,555,252 $139.3M Add +388.7%
MSI Motorola Solutions Inc. 0.28% 318,967 $134.1M Reduce -34.6%
PLTR Palantir Technologies Inc. Class A 0.28% 978,320 $133.4M Add +76.3%
AYI Acuity Inc. 0.27% 440,237 $131.3M Reduce -18.9%
ACN Accenture PLC Class A 0.27% 432,159 $129.2M Add +319.2%
ECL Ecolab Inc. 0.26% 476,019 $128.2M Add +42.5%
KMB Kimberly-Clark Corp. 0.26% 992,379 $127.9M Add +36.4%
AU Anglogold Ashanti PLC 0.26% 2,788,123 $127.0M Add +1767.5%
NYT New York Times Co. Class A 0.26% 2,232,830 $125.0M Add +26.5%
CHE Chemed Corp. 0.25% 250,722 $122.1M Add +69.3%
JXN Jackson Financial Inc. Class A 0.25% 1,359,477 $120.7M Add +1.5%
RDDT Reddit Inc. Class A 0.25% 801,458 $120.7M Add +9.1%
GEV GE Vernova Inc. 0.24% 218,437 $115.6M Add +718.0%
TT Trane Technologies PLC 0.23% 258,731 $113.2M Add +670.6%
ATHM Autohome Inc.-ADR 0.23% 4,369,259 $112.7M Reduce -5.1%
HD Home Depot Inc. 0.23% 306,532 $112.4M Add +63.6%
GSK GSK PLC-Spon ADR 0.22% 2,824,745 $108.4M Reduce -29.1%

Show all 1,659 holdings

Other holdings (2): bonds, preferreds, convertibles and warrants · $8K (not counted above)
SecurityClassShares / PrincipalValueChange
MPTI.WS M-Tron Industries Inc. -28 *W EXP 04/25/202 10,367$8KNo change
LGL.WS LGL Group Inc./the -CW25 *W EXP 11/16/202 107$0No change

Total filed on the 13F, all lines: $48.4B.

Portfolio Sells Q1 2025 → Q2 2025

SPOT Spotify Technology SA Reduce -39.8% 1.36% −0.86
BRK.B Berkshire Hathaway Inc. Class B Reduce -28.3% 0.58% −0.63
CHKP Check Point Software Tech Reduce -6.0% 1.19% −0.60
BCS Barclays PLC-Spons ADR Reduce -32.4% 0.87% −0.59
MRSH Marsh & McLennan Cos Reduce -46.7% 0.29% −0.54
SU Suncor Energy Inc. Reduce -10.8% 0.86% −0.50
ERIC Ericsson (lm) Tel-SP ADR Reduce -7.2% 1.42% −0.50
ONON On Holding AG Class A Reduce -86.3% 0.06% −0.45
LOGI Logitech International-Reg Reduce -10.4% 1.06% −0.45
VZ Verizon Communications Inc. Reduce -11.5% 0.67% −0.42
C Citigroup Inc. Reduce -26.9% 0.74% −0.42
SE Sea Ltd.-ADR Reduce -14.6% 1.35% −0.41
PM Philip Morris International Reduce -46.8% 0.33% −0.41
CSCO Cisco Systems Inc. Reduce -14.0% 0.96% −0.40
MSI Motorola Solutions Inc. Reduce -34.6% 0.28% −0.33
TRV The Travelers Cos Inc. Reduce -24.0% 0.38% −0.29
QFIN Qfin Holdings Inc.-ADR Reduce -8.6% 0.46% −0.25
EQH Equitable Holdings Inc. Reduce -10.1% 0.60% −0.25
VIPS Vipshop Holdings Ltd. - ADR Reduce -2.3% 0.51% −0.23
EXPE Expedia Group Inc. Reduce -62.0% 0.09% −0.23
STM Stmicroelectronics NV-NY SHS Reduce -65.6% 0.12% −0.23
GSK GSK PLC-Spon ADR Reduce -29.1% 0.22% −0.21
NTAP Netapp Inc. Reduce -63.8% 0.10% −0.21
ETSY Etsy Inc. Reduce -41.2% 0.17% −0.20
WELL Welltower Inc. Reduce -48.0% 0.12% −0.19
TEAM Atlassian Corp. Class A Reduce -2.7% 0.39% −0.18
DBX Dropbox Inc. Class A Reduce -8.3% 0.46% −0.18
SPG Simon Property Group Inc. Reduce -56.1% 0.08% −0.17
ASX Ase Technology Holding -ADR Reduce -55.9% 0.10% −0.17
FTNT Fortinet Inc. Reduce -2.5% 0.60% −0.17
EXEL Exelixis Inc. Reduce -81.7% 0.03% −0.16
NVO Novo-Nordisk A/S-Spons ADR Reduce -67.9% 0.05% −0.16
CVLT Commvault Systems Inc. Reduce -4.4% 0.52% −0.15
BKNG Booking Holdings Inc. Reduce -2.3% 1.32% −0.15
PINS Pinterest Inc. Class A Reduce -77.0% 0.04% −0.15
DASH DoorDash Inc. Class A Reduce -26.0% 0.38% −0.14
ANET Arista Networks Inc. Reduce -24.6% 0.35% −0.13
AYI Acuity Inc. Reduce -18.9% 0.27% −0.13
CVE Cenovus Energy Inc. Reduce -74.1% 0.03% −0.13
CLBT Cellebrite Di Ltd. Reduce -35.3% 0.08% −0.13
ATHM Autohome Inc.-ADR Reduce -5.1% 0.23% −0.13
RL Ralph Lauren Corp. Reduce -88.6% 0.01% −0.13
FFIV F5 Inc. Reduce -1.1% 0.50% −0.13
MO Altria Group Inc. Reduce -27.1% 0.12% −0.12
CM Can Imperial BK of Commerce Reduce -62.5% 0.06% −0.11
SYK Stryker Corp. Reduce -42.2% 0.08% −0.10
BCC Boise Cascade Co. Reduce -16.2% 0.11% −0.09
IBM Intl Business Machines Corp. Reduce -30.6% 0.13% −0.09
PDD PDD Holdings Inc. Reduce -45.5% 0.05% −0.09
INCY Incyte Corp. Reduce -1.3% 0.35% −0.08

Portfolio Buys Q1 2025 → Q2 2025

NVDA Nvidia Corp. Add +44.1% 4.39% +1.53
MSFT Microsoft Corp. Add +60.0% 3.07% +1.09
CRM Salesforce Inc. Add +1729.6% 1.11% +1.03
AMAT Applied Materials Inc. Add +417.3% 0.65% +0.52
ADBE Adobe Inc. Add +218.5% 0.86% +0.49
AVGO Broadcom Inc. Add +112.3% 0.78% +0.47
PEP Pepsico Inc. Add +175.7% 0.81% +0.35
EA Electronic Arts Inc. Add +176.6% 0.61% +0.34
MA Mastercard Inc. Class A Add +72.1% 1.50% +0.34
AZN Astrazeneca PLC-Spons ADR Add +2389.9% 0.29% +0.28
LRCX Lam Research Corp. Add +669.1% 0.32% +0.28
COST Costco Wholesale Corp. Add +108.5% 0.73% +0.27
ASML ASML Holding NV-NY Reg SHS Add +114.3% 0.55% +0.26
DB Deutsche Bank AG-Registered Add +90.6% 0.60% +0.26
REGN Regeneron Pharmaceuticals Add +234.7% 0.50% +0.26
GOOG Alphabet Inc. Class C Add +138.8% 0.50% +0.25
AU Anglogold Ashanti PLC Add +1767.5% 0.26% +0.25
CAH Cardinal Health Inc. Add +92.5% 0.58% +0.24
MCK McKesson Corp. Add +68.0% 0.96% +0.24
RBRK Rubrik Inc. Class A Add +388.7% 0.29% +0.23
ABT Abbott Laboratories Add +82.5% 0.81% +0.22
TRP TC Energy Corp. New 0.22% +0.22
TSLA Tesla Inc. Add +100.1% 0.49% +0.22
GEV GE Vernova Inc. Add +718.0% 0.24% +0.22
TT Trane Technologies PLC Add +670.6% 0.23% +0.20
QCOM Qualcomm Inc. Add +189.5% 0.32% +0.18
ACN Accenture PLC Class A Add +319.2% 0.27% +0.18
MDB Mongodb Inc. Add +83.8% 0.45% +0.17
ADSK Autodesk Inc. Add +549.3% 0.20% +0.16
BNS Bank of Nova Scotia Add +1529.8% 0.17% +0.16
PFE Pfizer Inc. Add +511.4% 0.21% +0.16
PANW Palo Alto Networks Inc. Add +244.0% 0.22% +0.15
ELV Elevance Health Inc. Add +5204.0% 0.15% +0.15
PLTR Palantir Technologies Inc. Class A Add +76.3% 0.28% +0.14
CCJ Cameco Corp. Add +1428.6% 0.15% +0.14
BMY Bristol-Myers Squibb Co. Add +958.5% 0.17% +0.14
T AT&T Inc. Add +59.6% 0.87% +0.14
COR Cencora Inc. Add +947.5% 0.16% +0.14
NFLX Netflix Inc. Add +4.9% 1.47% +0.13
WDAY Workday Inc. Class A Add +2448.2% 0.14% +0.13
MDT Medtronic PLC Add +1011.4% 0.15% +0.13
AMD Advanced Micro Devices Add +546.2% 0.15% +0.13
LLY Eli Lilly & Co. Add +150.3% 0.31% +0.13
EQIX Equinix Inc. Add +999.6% 0.14% +0.12
JPM JPMorgan Chase & Co. Add +65.2% 0.41% +0.12
ABBV Abbvie Inc. Add +260.0% 0.20% +0.11
ODD Oddity Tech Ltd. Class A Add +507.8% 0.13% +0.11
HLN Haleon PLC-ADR Add +3031.5% 0.12% +0.11
ROKU Roku Inc. Add +41.2% 0.49% +0.11
V Visa Inc. Class A Add +51.0% 1.03% +0.11

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 1,986$84.2BAAPL, NVDA, GOOGL, AMZN, MSFT
Q1 2026 2,010$70.5BAAPL, NVDA, GOOGL, MSFT, AMZN
Q4 2025 1,959$60.9BNVDA, AAPL, MSFT, GOOGL, META
Q3 2025 1,817$57.3BNVDA, AAPL, MSFT, META, AMZN
Q2 2025 1,659$48.4BNVDA, MSFT, AAPL, AMZN, GOOGL
Q1 2025 1,601$35.4BAAPL, NVDA, AMZN, GOOGL, SPOT
Q4 2024 1,609$34.5BAAPL, NVDA, GOOGL, MSFT, ERIC
Q3 2024 2,073$32.2BAAPL, NVDA, GOOGL, CHKP, MSFT
Q2 2024 1,753$32.5BNVDA, AAPL, AMZN, GOOGL, MSFT
Q1 2024 1,569$28.7BNVDA, AMZN, GOOGL, MSFT, STLA