Banque Cantonale Vaudoise
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Banque Cantonale Vaudoise reported 790 stock positions worth $2.5 billion. Its top holding was UBS Group AG-Reg (UBS) at 9.2% of the portfolio, followed by Nvidia (NVDA, 4.8%) and Microsoft (MSFT, 4.2%). Compared with Q1 2025, it opened 40 new positions, sold out of 82, added to 248 and reduced 356. The biggest buy was Nvidia (NVDA, shares +2%) and the biggest sale Alcon (ALC, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- LAUSANNE, V8
- CIK
- 0001793755
- Portfolio Value
- $2.5B (Q2 2025)
- SEC Filing
- 0001793755-25-000006 ↗ filed Aug 11, 2025
Holdings Value
Holdings 790 stocks · $2.5B
| UBS UBS Group AG-Reg | 9.22% | 6,699,155 | $226.0M | Reduce -1.7% |
| NVDA Nvidia Corp. | 4.76% | 738,237 | $116.6M | Add +2.2% |
| MSFT Microsoft Corp. | 4.23% | 208,651 | $103.8M | Reduce -20.2% |
| ALC Alcon Inc. filed as ALCON AG | 3.71% | 1,031,370 | $91.0M | Reduce -2.0% |
| AAPL Apple Inc. | 3.60% | 430,331 | $88.3M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 2.77% | 309,577 | $67.9M | Reduce -2.7% |
| V Visa Inc. Class A | 2.02% | 139,344 | $49.5M | Add +3.7% |
| GOOGL Alphabet Inc. Class A | 1.99% | 276,907 | $48.8M | Add +0.8% |
| AVGO Broadcom Inc. | 1.52% | 135,553 | $37.4M | Add +1.2% |
| LOGI Logitech International-Reg | 1.31% | 358,289 | $32.2M | Add +2.1% |
| META Meta Platforms Inc. Class A | 1.28% | 42,478 | $31.4M | Reduce -5.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.98% | 43,628 | $24.1M | Add +44.6% |
| MBB iShares MBS ETF | 0.93% | 243,850 | $22.9M | Reduce -14.1% |
| JPM JPMorgan Chase & Co. | 0.93% | 78,476 | $22.8M | Reduce -1.3% |
| MA Mastercard Inc. Class A | 0.79% | 34,365 | $19.3M | Reduce -1.8% |
| CSCO Cisco Systems Inc. | 0.78% | 275,980 | $19.1M | Add +8.7% |
| KO The Coca-Cola Co. | 0.76% | 264,605 | $18.7M | Reduce -9.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.76% | 394,317 | $18.7M | Add +4.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.75% | 62,030 | $18.3M | Reduce -4.0% |
| PG The Procter & Gamble Co. | 0.73% | 113,085 | $18.0M | Add +38.8% |
| NFLX Netflix Inc. | 0.68% | 12,386 | $16.6M | Add +4.4% |
| GOOG Alphabet Inc. Class C | 0.66% | 90,764 | $16.1M | Add +23.6% |
| LLY Eli Lilly & Co. | 0.65% | 20,316 | $15.8M | Reduce -2.9% |
| HD Home Depot Inc. | 0.62% | 41,425 | $15.2M | Add +10.1% |
| TSLA Tesla Inc. | 0.60% | 46,613 | $14.8M | Reduce -2.3% |
| CAT Caterpillar Inc. | 0.59% | 37,260 | $14.5M | Add +27.6% |
| ABBV Abbvie Inc. | 0.58% | 76,596 | $14.2M | Add +10.3% |
| MS Morgan Stanley | 0.53% | 92,344 | $13.0M | Add +10.7% |
| ORCL Oracle Corp. | 0.53% | 59,368 | $13.0M | Reduce -1.9% |
| ABT Abbott Laboratories | 0.52% | 94,462 | $12.8M | Add +6.6% |
| CRM Salesforce Inc. | 0.51% | 46,290 | $12.6M | Add +2.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.50% | 25,367 | $12.3M | Add +0.8% |
| GS Goldman Sachs Group Inc. | 0.47% | 16,346 | $11.6M | Add +89.8% |
| WM Waste Management Inc. | 0.47% | 50,178 | $11.5M | Reduce -0.4% |
| GILD Gilead Sciences Inc. | 0.44% | 96,588 | $10.7M | Reduce -9.3% |
| JNJ Johnson & Johnson | 0.44% | 70,015 | $10.7M | Reduce -13.8% |
| WMT Walmart Inc. | 0.43% | 108,562 | $10.6M | Add +8.9% |
| NOW ServiceNow Inc. | 0.43% | 10,262 | $10.5M | Reduce -10.4% |
| ZTS Zoetis Inc. | 0.43% | 66,897 | $10.4M | Add +8.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.42% | 16,652 | $10.3M | Add +4.8% |
| PANW Palo Alto Networks Inc. | 0.41% | 48,700 | $10.0M | Add +1.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.40% | 43,658 | $9.9M | Reduce -16.0% |
| MRK Merck & Co. Inc. | 0.39% | 121,019 | $9.6M | Add +50.0% |
| ISRG Intuitive Surgical Inc. | 0.38% | 17,359 | $9.4M | Add +0.7% |
| ADI Analog Devices Inc. | 0.38% | 38,851 | $9.2M | Add +39.5% |
| AMAT Applied Materials Inc. | 0.38% | 50,347 | $9.2M | Add +3.3% |
| AMD Advanced Micro Devices | 0.38% | 64,878 | $9.2M | Reduce -0.1% |
| TXN Texas Instruments Inc. | 0.37% | 44,252 | $9.2M | Add +2.1% |
| XOM Exxon Mobil Corp. | 0.36% | 82,575 | $8.9M | Reduce -2.9% |
| IWM iShares Russell 2000 ETF | 0.36% | 40,739 | $8.8M | Add +13.9% |
| MCD McDonald's Corp. | 0.35% | 29,500 | $8.6M | Add +9.1% |
| INTU Intuit Inc. | 0.35% | 10,879 | $8.6M | Reduce -0.9% |
| SYK Stryker Corp. | 0.35% | 21,419 | $8.5M | Reduce -2.4% |
| MMM 3M Co. | 0.35% | 55,585 | $8.5M | Add +12.6% |
| GE General Electric filed as GE AEROSPACE | 0.34% | 32,685 | $8.4M | Reduce -13.3% |
| SPYD SS SPDR P S&P 500 Hi Div ETF | 0.34% | 195,905 | $8.3M | Add +43.8% |
| SPGI S&P Global Inc. | 0.34% | 15,684 | $8.3M | Add +11.3% |
| ACN Accenture PLC Class A | 0.33% | 27,344 | $8.2M | Reduce -2.2% |
| UNP Union Pacific Corp. | 0.32% | 34,414 | $7.9M | Add +0.8% |
| COST Costco Wholesale Corp. | 0.32% | 7,978 | $7.9M | Add +4.7% |
| LOW Lowe's Cos Inc. | 0.32% | 35,450 | $7.9M | Add +34.9% |
| DE Deere & Co. | 0.32% | 15,376 | $7.8M | Add +7.5% |
| ADBE Adobe Inc. | 0.31% | 19,887 | $7.7M | Reduce -0.5% |
| BKNG Booking Holdings Inc. | 0.31% | 1,328 | $7.7M | Reduce -1.3% |
| AXP American Express Co. | 0.31% | 24,055 | $7.7M | Add +12.7% |
| NET Cloudflare Inc. Class A | 0.31% | 38,317 | $7.5M | Add +17.5% |
| CVX Chevron Corp. | 0.30% | 52,153 | $7.5M | Add +4.4% |
| TT Trane Technologies PLC | 0.29% | 16,195 | $7.1M | Reduce -4.5% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.29% | 77,492 | $7.1M | Add +142.0% |
| NEE Nextera Energy Inc. | 0.29% | 100,876 | $7.0M | Reduce -0.8% |
| VZ Verizon Communications Inc. | 0.28% | 160,835 | $7.0M | Reduce -17.5% |
| PFE Pfizer Inc. | 0.28% | 281,530 | $6.8M | Add +8.2% |
| FTNT Fortinet Inc. | 0.26% | 60,610 | $6.4M | Reduce -21.7% |
| C Citigroup Inc. | 0.26% | 74,357 | $6.3M | Add +18.7% |
| HON Honeywell International Inc. | 0.25% | 26,558 | $6.2M | Add +0.3% |
| MCO Moody's Corp. | 0.25% | 12,096 | $6.1M | Add +35.3% |
| WELL Welltower Inc. | 0.25% | 39,318 | $6.0M | Add +36.9% |
| ZS Zscaler Inc. | 0.24% | 18,526 | $5.8M | Reduce -11.1% |
| ADP Automatic Data Processing | 0.24% | 18,686 | $5.8M | Add +15.3% |
| ECL Ecolab Inc. | 0.23% | 21,248 | $5.7M | Reduce -1.4% |
| PGR Progressive Corp. | 0.23% | 21,108 | $5.6M | Reduce -13.0% |
| WFC Wells Fargo & Co. | 0.23% | 70,079 | $5.6M | Reduce -4.6% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.23% | 11,020 | $5.6M | Reduce -2.9% |
| BSX Boston Scientific Corp. | 0.23% | 51,841 | $5.6M | Add +61.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.22% | 44,340 | $5.5M | Reduce -8.2% |
| NXPI NXP Semiconductors NV | 0.22% | 24,869 | $5.4M | Add +32.1% |
| UNH Unitedhealth Group Inc. | 0.22% | 17,115 | $5.3M | Reduce -16.3% |
| T AT&T Inc. | 0.21% | 180,650 | $5.2M | Reduce -37.2% |
| MCK McKesson Corp. | 0.21% | 7,120 | $5.2M | Add +5.9% |
| EW Edwards Lifesciences Corp. | 0.21% | 66,666 | $5.2M | Add +59.6% |
| LIN Linde PLC | 0.21% | 10,966 | $5.1M | Reduce -7.3% |
| LRCX Lam Research Corp. | 0.21% | 52,714 | $5.1M | Reduce -7.2% |
| CI The Cigna Group | 0.21% | 15,308 | $5.1M | Reduce -25.5% |
| RTX RTX Corp. | 0.20% | 34,229 | $5.0M | Add +5.8% |
| NEM Newmont Corp. | 0.20% | 85,698 | $5.0M | Add +11.7% |
| ETN Eaton Corp. PLC | 0.20% | 13,621 | $4.9M | Add +2.4% |
| AMGN Amgen Inc. | 0.19% | 16,941 | $4.7M | Add +9.8% |
| BMY Bristol-Myers Squibb Co. | 0.19% | 101,425 | $4.7M | Reduce -45.7% |
| VRTX Vertex Pharmaceuticals Inc. | 0.19% | 10,529 | $4.7M | Add +2.2% |
| EQIX Equinix Inc. | 0.19% | 5,812 | $4.6M | Add +2.3% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $0 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| DSX.WS Diana Shipping Inc.-28 | *W EXP 12/14/202 | 2,913 | $0 | No change |
Portfolio Sells Q1 2025 → Q2 2025
| ALC Alcon Inc. | Reduce -2.0% | 3.71% | −0.65 |
| AAPL Apple Inc. | Reduce -0.1% | 3.60% | −0.61 |
| BMY Bristol-Myers Squibb Co. | Reduce -45.7% | 0.19% | −0.31 |
| UNH Unitedhealth Group Inc. | Reduce -16.3% | 0.22% | −0.25 |
| MBB iShares MBS ETF | Reduce -14.1% | 0.93% | −0.24 |
| YUMC Yum China Holdings Inc. | Reduce -87.8% | 0.02% | −0.23 |
| PEP Pepsico Inc. | Reduce -59.0% | 0.10% | −0.19 |
| KO The Coca-Cola Co. | Reduce -9.8% | 0.76% | −0.16 |
| KR Kroger Co. | Reduce -55.3% | 0.12% | −0.16 |
| JNJ Johnson & Johnson | Reduce -13.8% | 0.44% | −0.16 |
| CCI Crown Castle Inc. | Reduce -57.3% | 0.10% | −0.15 |
| T AT&T Inc. | Reduce -37.2% | 0.21% | −0.14 |
| VNET Vnet Group Inc.-ADR | Sold out | 0.00% | −0.14 |
| LLY Eli Lilly & Co. | Reduce -2.9% | 0.65% | −0.11 |
| VZ Verizon Communications Inc. | Reduce -17.5% | 0.28% | −0.11 |
| ES Eversource Energy | Sold out | 0.00% | −0.11 |
| VIPS Vipshop Holdings Ltd. - ADR | Sold out | 0.00% | −0.10 |
| PONY Pony AI Inc. | Reduce -99.2% | 0.00% | −0.10 |
| FISV Fiserv Inc. | Reduce -42.5% | 0.07% | −0.10 |
| NUE Nucor Corp. | Reduce -68.1% | 0.05% | −0.10 |
| AON Aon PLC Class A | Reduce -58.5% | 0.05% | −0.09 |
| CI The Cigna Group | Reduce -25.5% | 0.21% | −0.09 |
| PDD PDD Holdings Inc. | Reduce -86.9% | 0.01% | −0.09 |
| MSFT Microsoft Corp. | Reduce -20.2% | 4.23% | −0.09 |
| GILD Gilead Sciences Inc. | Reduce -9.3% | 0.44% | −0.09 |
| CHRW C.H. Robinson Worldwide Inc. | Sold out | 0.00% | −0.08 |
| XOM Exxon Mobil Corp. | Reduce -2.9% | 0.36% | −0.08 |
| ED Consolidated Edison Inc. | Reduce -57.6% | 0.05% | −0.08 |
| IDXX Idexx Laboratories Inc. | Reduce -53.3% | 0.10% | −0.08 |
| EXC Exelon Corp. | Reduce -37.0% | 0.10% | −0.08 |
| XOP SS SPDR S&P Og Exp & Prod | Reduce -22.9% | 0.17% | −0.08 |
| EG Everest Group Ltd. | Sold out | 0.00% | −0.07 |
| CVS CVS Health Corp. | Reduce -50.2% | 0.06% | −0.07 |
| ITW Illinois Tool Works | Reduce -33.4% | 0.12% | −0.07 |
| PGR Progressive Corp. | Reduce -13.0% | 0.23% | −0.07 |
| VLTO Veralto Corp. | Sold out | 0.00% | −0.07 |
| CAG Conagra Brands Inc. | Reduce -59.7% | 0.03% | −0.07 |
| OC Owens Corning | Reduce -61.6% | 0.04% | −0.07 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.07 |
| FTNT Fortinet Inc. | Reduce -21.7% | 0.26% | −0.07 |
| CBOE Cboe Global Markets Inc. | Reduce -35.4% | 0.11% | −0.07 |
| FAST Fastenal Co. | Reduce -60.6% | 0.04% | −0.06 |
| PNR Pentair PLC | Reduce -66.1% | 0.04% | −0.06 |
| EXPD Expeditors Intl Wash Inc. | Sold out | 0.00% | −0.06 |
| CL Colgate-Palmolive Co. | Reduce -23.7% | 0.13% | −0.06 |
| APD Air Products & Chemicals Inc. | Reduce -74.8% | 0.02% | −0.06 |
| TMO Thermo Fisher Scientific Inc. | Reduce -12.7% | 0.12% | −0.06 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.06 |
| MA Mastercard Inc. Class A | Reduce -1.8% | 0.79% | −0.06 |
| BG Bunge Global SA | Sold out | 0.00% | −0.06 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +2.2% | 4.76% | +1.31 |
| AVGO Broadcom Inc. | Add +1.2% | 1.52% | +0.54 |
| QQQ Invesco QQQ Trust Series 1 | Add +44.6% | 0.98% | +0.36 |
| GS Goldman Sachs Group Inc. | Add +89.8% | 0.47% | +0.26 |
| NFLX Netflix Inc. | Add +4.4% | 0.68% | +0.19 |
| BNY Bank of New York Mellon Corp. | Add +142.0% | 0.29% | +0.17 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +2506.6% | 0.17% | +0.17 |
| CAT Caterpillar Inc. | Add +27.6% | 0.59% | +0.17 |
| GOOG Alphabet Inc. Class C | Add +23.6% | 0.66% | +0.15 |
| NET Cloudflare Inc. Class A | Add +17.5% | 0.31% | +0.14 |
| GEV GE Vernova Inc. | Add +161.3% | 0.18% | +0.14 |
| ADI Analog Devices Inc. | Add +39.5% | 0.38% | +0.13 |
| CNH CNH Industrial NV | New | 0.13% | +0.13 |
| PG The Procter & Gamble Co. | Add +38.8% | 0.73% | +0.12 |
| GOOGL Alphabet Inc. Class A | Add +0.8% | 1.99% | +0.12 |
| MS Morgan Stanley | Add +10.7% | 0.53% | +0.10 |
| FIS Fidelity National Info Serv | Add +132.0% | 0.17% | +0.10 |
| LPLA LPL Financial Holdings Inc. | Add +198.8% | 0.14% | +0.09 |
| CSCO Cisco Systems Inc. | Add +8.7% | 0.78% | +0.09 |
| BSX Boston Scientific Corp. | Add +61.9% | 0.23% | +0.08 |
| SCCO Southern Copper Corp. | New | 0.08% | +0.08 |
| EW Edwards Lifesciences Corp. | Add +59.6% | 0.21% | +0.08 |
| CCJ Cameco Corp. | Add +60.1% | 0.13% | +0.08 |
| MCHP Microchip Technology Inc. | Add +100.5% | 0.12% | +0.08 |
| ICE Intercontinental Exchange Inc. | Add +76.3% | 0.17% | +0.07 |
| SPYD SS SPDR P S&P 500 Hi Div ETF | Add +43.8% | 0.34% | +0.07 |
| PLTR Palantir Technologies Inc. Class A | Add +9.5% | 0.18% | +0.07 |
| SPOT Spotify Technology SA | Add +170.5% | 0.10% | +0.07 |
| MRK Merck & Co. Inc. | Add +50.0% | 0.39% | +0.07 |
| FOXA Fox Corp. Class A | New | 0.07% | +0.07 |
| DELL Dell Technologies -C | Add +29.1% | 0.18% | +0.07 |
| BAC Bank of America Corp. | Add +4.5% | 0.76% | +0.07 |
| AMAT Applied Materials Inc. | Add +3.3% | 0.38% | +0.06 |
| LH Labcorp Holdings Inc. | New | 0.06% | +0.06 |
| MCO Moody's Corp. | Add +35.3% | 0.25% | +0.06 |
| NXPI NXP Semiconductors NV | Add +32.1% | 0.22% | +0.06 |
| FSLR First Solar Inc. | Add +45.1% | 0.15% | +0.06 |
| C Citigroup Inc. | Add +18.7% | 0.26% | +0.06 |
| AXP American Express Co. | Add +12.7% | 0.31% | +0.06 |
| IRM Iron Mountain Inc. | Add +48.2% | 0.15% | +0.06 |
| AMCR Amcor PLC | New | 0.06% | +0.06 |
| CEG Constellation Energy | Add +6.8% | 0.15% | +0.06 |
| COF Capital One Financial Corp. | Add +73.5% | 0.11% | +0.05 |
| WELL Welltower Inc. | Add +36.9% | 0.25% | +0.05 |
| STX Seagate Technology Holdings | Add +3.2% | 0.14% | +0.05 |
| LOW Lowe's Cos Inc. | Add +34.9% | 0.32% | +0.05 |
| CAH Cardinal Health Inc. | Add +38.9% | 0.14% | +0.05 |
| APP AppLovin Corp. Class A | Add +235.4% | 0.07% | +0.05 |
| BKR Baker Hughes Co. | Add +85.9% | 0.15% | +0.05 |
| WMT Walmart Inc. | Add +8.9% | 0.43% | +0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 815 | $2.4B | UBS, NVDA, MSFT, ALC, GOOGL |
| Q1 2026 | 874 | $2.7B | UBS, NVDA, AAPL, MSFT, ALC |
| Q4 2025 | 822 | $2.8B | UBS, NVDA, AAPL, MSFT, ALC |
| Q3 2025 | 815 | $2.7B | UBS, NVDA, AAPL, MSFT, ALC |
| Q2 2025 | 790 | $2.5B | UBS, NVDA, MSFT, ALC, AAPL |
| Q1 2025 | 832 | $2.3B | UBS, ALC, MSFT, AAPL, NVDA |
| Q3 2024 | 749 | $2.4B | UBS, MSFT, NVDA, AAPL, ALC |
| Q2 2024 | 986 | $2.5B | UBS, PM, MSFT, AAPL, NVDA |
| Q1 2024 | 984 | $2.6B | UBS, PM, MSFT, NVDA, ALC |