Cardano Risk Management B.V.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed May 27, 2026), Cardano Risk Management B.V. reported 35 stock positions worth $9.9 billion. Its top holding was Nvidia (NVDA) at 14.7% of the portfolio, followed by Apple (AAPL, 11.5%) and Microsoft (MSFT, 11.5%). Compared with Q3 2025, it opened 4 new positions, sold out of 1, added to 12 and reduced 19. The biggest buy was a new position in Lam Research (LRCX) and the biggest sale an exit from Cisco Systems (CSCO).
- Most Recent 13F
- Q2 2026
- Location
- ROTTERDAM, P7
- CIK
- 0001619124
- Portfolio Value
- $9.9B (Q4 2025)
- SEC Filing
- 0001619124-26-000005 ↗ filed May 27, 2026
Holdings Value
Holdings 35 stocks · $9.9B
| NVDA Nvidia Corp. | 14.65% | 7,812,396 | $1.5B | Reduce -0.4% |
| AAPL Apple Inc. | 11.48% | 4,198,481 | $1.1B | Reduce -0.9% |
| MSFT Microsoft Corp. | 11.46% | 2,356,825 | $1.1B | Add +0.8% |
| AMZN Amazon.com Inc. | 6.47% | 2,786,240 | $643.1M | Reduce -2.1% |
| GOOG Alphabet Inc. Class C | 5.58% | 1,769,260 | $555.2M | Reduce -5.0% |
| GOOGL Alphabet Inc. Class A | 4.57% | 1,452,528 | $454.6M | Reduce -4.5% |
| AVGO Broadcom Inc. | 4.42% | 1,268,980 | $439.2M | Reduce -0.5% |
| TSLA Tesla Inc. | 3.71% | 820,206 | $368.9M | Reduce -1.7% |
| V Visa Inc. Class A | 2.90% | 821,361 | $288.1M | Reduce -3.2% |
| JPM JPMorgan Chase & Co. | 2.81% | 867,353 | $279.5M | Reduce -1.1% |
| LLY Eli Lilly & Co. | 2.57% | 237,505 | $255.2M | Reduce -2.4% |
| MA Mastercard Inc. Class A | 2.34% | 407,221 | $232.5M | Reduce -3.8% |
| BKR Baker Hughes Co. | 2.26% | 4,935,331 | $224.8M | Add +10.5% |
| WELL Welltower Inc. | 1.78% | 951,354 | $176.6M | Add +5.5% |
| COST Costco Wholesale Corp. | 1.55% | 178,508 | $153.9M | Add +0.7% |
| PLD Prologis Inc. | 1.44% | 1,122,873 | $143.3M | Add +9.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.39% | 2,509,526 | $138.0M | Add +1.4% |
| PG The Procter & Gamble Co. | 1.37% | 952,144 | $136.5M | Add +20.5% |
| NFLX Netflix Inc. | 1.28% | 1,359,244 | $127.4M | Reduce -2.4% |
| ABBV Abbvie Inc. | 1.25% | 544,493 | $124.4M | Add +1.5% |
| PLTR Palantir Technologies Inc. Class A | 1.18% | 658,563 | $117.1M | Add +1.7% |
| BKNG Booking Holdings Inc. | 1.17% | 21,808 | $116.8M | Reduce -3.8% |
| LRCX Lam Research Corp. | 1.17% | 678,052 | $116.1M | New |
| HD Home Depot Inc. | 1.14% | 329,054 | $113.2M | Add +0.1% |
| CISCO SYSTEMS | 1.04% | 1,340,850 | $103.3M | New |
| CRM Salesforce Inc. | 1.03% | 388,361 | $102.9M | Add +2.5% |
| MRK Merck & Co. Inc. | 1.02% | 961,932 | $101.3M | New |
| KO The Coca-Cola Co. | 1.01% | 1,443,219 | $100.9M | Reduce -3.3% |
| AMD Advanced Micro Devices | 1.01% | 467,306 | $100.1M | New |
| ORCL Oracle Corp. | 0.98% | 499,101 | $97.3M | Reduce -1.8% |
| SPGI S&P Global Inc. | 0.93% | 176,023 | $92.0M | Reduce -4.2% |
| ADP Automatic Data Processing | 0.92% | 356,318 | $91.7M | Add +5.0% |
| UNH Unitedhealth Group Inc. | 0.84% | 252,370 | $83.3M | Reduce -3.6% |
| NOW ServiceNow Inc. | 0.76% | 491,746 | $75.3M | Reduce -6.2% |
| FISV Fiserv Inc. | 0.52% | 217,237 | $51.7M | Reduce -45.9% |
Portfolio Sells Q3 2025 → Q4 2025
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −1.03 |
| NVDA Nvidia Corp. | Reduce -0.4% | 14.65% | −0.88 |
| ORCL Oracle Corp. | Reduce -1.8% | 0.98% | −0.54 |
| NFLX Netflix Inc. | Reduce -2.4% | 1.28% | −0.49 |
| NOW ServiceNow Inc. | Reduce -6.2% | 0.76% | −0.27 |
| TSLA Tesla Inc. | Reduce -1.7% | 3.71% | −0.23 |
| MA Mastercard Inc. Class A | Reduce -3.8% | 2.34% | −0.22 |
| V Visa Inc. Class A | Reduce -3.2% | 2.90% | −0.18 |
| AMZN Amazon.com Inc. | Reduce -2.1% | 6.47% | −0.17 |
| JPM JPMorgan Chase & Co. | Reduce -1.1% | 2.81% | −0.13 |
| BKNG Booking Holdings Inc. | Reduce -3.8% | 1.17% | −0.13 |
| UNH Unitedhealth Group Inc. | Reduce -3.6% | 0.84% | −0.12 |
| AVGO Broadcom Inc. | Reduce -0.5% | 4.42% | −0.05 |
| KO The Coca-Cola Co. | Reduce -3.3% | 1.01% | −0.04 |
| FISV Fiserv Inc. | Reduce -45.9% | 0.52% | −0.03 |
| SPGI S&P Global Inc. | Reduce -4.2% | 0.93% | −0.02 |
| AAPL Apple Inc. | Reduce -0.9% | 11.48% | +0.02 |
| LLY Eli Lilly & Co. | Reduce -2.4% | 2.57% | +0.60 |
| GOOGL Alphabet Inc. Class A | Reduce -4.5% | 4.57% | +0.65 |
| GOOG Alphabet Inc. Class C | Reduce -5.0% | 5.58% | +0.77 |
Portfolio Buys Q3 2025 → Q4 2025
| LRCX Lam Research Corp. | New | 1.17% | +1.17 |
| CISCO SYSTEMS | New | 1.04% | +1.04 |
| MRK Merck & Co. Inc. | New | 1.02% | +1.02 |
| AMD Advanced Micro Devices | New | 1.01% | +1.01 |
| PLD Prologis Inc. | Add +9.9% | 1.44% | +0.20 |
| PG The Procter & Gamble Co. | Add +20.5% | 1.37% | +0.08 |
| CRM Salesforce Inc. | Add +2.5% | 1.03% | +0.08 |
| WELL Welltower Inc. | Add +5.5% | 1.78% | +0.07 |
| BAC Bank of America Corp. | Add +1.4% | 1.39% | +0.03 |
| BKR Baker Hughes Co. | Add +10.5% | 2.26% | −0.05 |
| ABBV Abbvie Inc. | Add +1.5% | 1.25% | −0.07 |
| PLTR Palantir Technologies Inc. Class A | Add +1.7% | 1.18% | −0.08 |
| ADP Automatic Data Processing | Add +5.0% | 0.92% | −0.14 |
| COST Costco Wholesale Corp. | Add +0.7% | 1.55% | −0.19 |
| HD Home Depot Inc. | Add +0.1% | 1.14% | −0.28 |
| MSFT Microsoft Corp. | Add +0.8% | 11.46% | −1.39 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 52 | $13.0B | NVDA, AAPL, MSFT, AMZN, GOOG |
| Q1 2026 | 44 | $10.2B | NVDA, AAPL, MSFT, AMZN, GOOG |
| Q4 2025Amended | 35 | $9.9B | NVDA, AAPL, MSFT, AMZN, GOOG |
| Q3 2025 | 32 | $9.4B | NVDA, MSFT, AAPL, AMZN, GOOG |
| Q2 2025 | 27 | $7.8B | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q1 2025 | 25 | $6.3B | AAPL, MSFT, NVDA, AMZN, V |
| Q4 2024 | 23 | $6.5B | AAPL, NVDA, MSFT, AMZN, TSLA |
| Q3 2024 | 19 | $5.7B | MSFT, AAPL, NVDA, AMZN, GOOG |
| Q2 2024 | 17 | $5.1B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q1 2024 | 13 | $3.2B | MSFT, AAPL, NVDA, AMZN, GOOGL |