DNB Asset Management AS
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), DNB Asset Management AS reported 738 stock positions worth $21.7 billion. Its top holding was Microsoft (MSFT) at 8.6% of the portfolio, followed by Nvidia (NVDA, 5.7%) and Amazon.com (AMZN, 5.5%). Compared with Q4 2024, it opened 46 new positions, sold out of 41, added to 320 and reduced 354. The biggest buy was Oracle (ORCL, shares +576%) and the biggest sale Alphabet Class A (GOOGL, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- Oslo, Q8
- CIK
- 0001456670
- Portfolio Value
- $21.7B (Q1 2025)
- SEC Filing
- 0000912282-25-000535 ↗ filed May 15, 2025
Holdings Value
Holdings 738 stocks · $21.7B
| MSFT Microsoft Corp. | 8.60% | 4,969,874 | $1.9B | Add +6.7% |
| NVDA Nvidia Corp. | 5.75% | 11,501,243 | $1.2B | Add +28.5% |
| AMZN Amazon.com Inc. | 5.49% | 6,256,630 | $1.2B | Add +3.0% |
| GOOGL Alphabet Inc. Class A | 5.10% | 7,153,445 | $1.1B | Reduce -10.0% |
| AAPL Apple Inc. | 3.58% | 3,494,441 | $776.2M | Reduce -9.1% |
| META Meta Platforms Inc. Class A | 3.49% | 1,313,595 | $757.1M | Reduce -15.5% |
| V Visa Inc. Class A | 1.67% | 1,035,697 | $363.0M | Reduce -50.4% |
| MA Mastercard Inc. Class A | 1.51% | 598,249 | $327.9M | Reduce -43.1% |
| ORCL Oracle Corp. | 1.41% | 2,187,306 | $305.8M | Add +576.1% |
| AVGO Broadcom Inc. | 1.36% | 1,763,313 | $295.2M | Add +50.1% |
| LLY Eli Lilly & Co. | 1.24% | 324,422 | $267.9M | Reduce -2.6% |
| CHKP Check Point Software Tech | 1.21% | 1,155,587 | $263.4M | Reduce -24.1% |
| SNDK Sandisk Corp. | 1.08% | 4,906,280 | $233.6M | Add +90.5% |
| WDC Western Digital Corp. | 1.04% | 5,576,463 | $225.5M | Reduce -27.9% |
| DDOG Datadog Inc. Class A | 1.01% | 2,206,464 | $218.9M | Add +39.8% |
| TTWO Take-Two Interactive Softwre | 0.93% | 973,600 | $201.8M | Reduce -35.3% |
| JNJ Johnson & Johnson | 0.92% | 1,208,176 | $200.4M | Reduce -8.8% |
| CRTO Criteo SA-Spon | 0.90% | 5,511,195 | $195.4M | Add +1.9% |
| LRCX Lam Research Corp. | 0.86% | 2,574,059 | $187.1M | Add +172.8% |
| JPM JPMorgan Chase & Co. | 0.86% | 756,894 | $185.7M | Reduce -24.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.83% | 4,337,546 | $181.0M | Add +0.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.82% | 335,258 | $178.6M | Reduce -0.9% |
| UNH Unitedhealth Group Inc. | 0.80% | 331,789 | $173.8M | Add +22.5% |
| ADBE Adobe Inc. | 0.79% | 448,322 | $171.9M | Add +115.2% |
| CB Chubb Ltd. | 0.78% | 562,263 | $169.8M | Add +13.6% |
| WMT Walmart Inc. | 0.75% | 1,862,737 | $163.5M | Add +25.7% |
| TMUS T-Mobile US Inc. | 0.74% | 600,007 | $160.0M | Add +13.8% |
| TSLA Tesla Inc. | 0.72% | 605,566 | $156.9M | Reduce -2.6% |
| BKNG Booking Holdings Inc. | 0.72% | 33,925 | $156.3M | Add +469.6% |
| ZS Zscaler Inc. | 0.68% | 748,376 | $148.5M | Add +12.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.68% | 886,278 | $147.1M | Reduce -4.9% |
| GOOG Alphabet Inc. Class C | 0.65% | 905,936 | $141.5M | Reduce -1.4% |
| ACN Accenture PLC Class A | 0.62% | 428,170 | $133.6M | Add +271.5% |
| MRVL Marvell Technology Inc. | 0.57% | 2,015,860 | $124.1M | Add +1167.6% |
| SPGI S&P Global Inc. | 0.57% | 242,705 | $123.3M | Reduce -6.3% |
| AMD Advanced Micro Devices | 0.56% | 1,188,832 | $122.1M | Add +161.7% |
| XOM Exxon Mobil Corp. | 0.52% | 952,764 | $113.3M | Reduce -7.1% |
| NOW ServiceNow Inc. | 0.52% | 140,959 | $112.2M | Add +10.5% |
| PEP Pepsico Inc. | 0.51% | 735,958 | $110.3M | Add +17.1% |
| COST Costco Wholesale Corp. | 0.48% | 109,788 | $103.8M | Add +22.6% |
| C Citigroup Inc. | 0.48% | 1,462,160 | $103.8M | Add +145.3% |
| EMR Emerson Electric Co. | 0.46% | 916,663 | $100.5M | Add +5.5% |
| NEE Nextera Energy Inc. | 0.46% | 1,409,395 | $99.9M | Add +9.3% |
| TMO Thermo Fisher Scientific Inc. | 0.45% | 198,211 | $98.6M | Reduce -1.5% |
| CCEP Coca-Cola Europacific Partne | 0.45% | 1,373,569 | $98.4M | Add +32.8% |
| ABBV Abbvie Inc. | 0.45% | 468,950 | $98.3M | Reduce -13.1% |
| PG The Procter & Gamble Co. | 0.44% | 566,072 | $96.5M | Add +23.1% |
| NFLX Netflix Inc. | 0.43% | 100,699 | $93.9M | Reduce -29.3% |
| MS Morgan Stanley | 0.42% | 778,556 | $90.8M | Reduce -15.3% |
| HD Home Depot Inc. | 0.41% | 244,269 | $89.5M | Reduce -0.1% |
| MELI MercadoLibre Inc. | 0.41% | 45,393 | $88.6M | Add +2.7% |
| VRTX Vertex Pharmaceuticals Inc. | 0.39% | 176,531 | $85.6M | Reduce -12.2% |
| MDT Medtronic PLC | 0.39% | 950,614 | $85.4M | Reduce -1.9% |
| GS Goldman Sachs Group Inc. | 0.36% | 143,286 | $78.3M | Reduce -3.9% |
| GE General Electric filed as GE AEROSPACE | 0.36% | 390,264 | $78.1M | Reduce -3.8% |
| ABT Abbott Laboratories | 0.34% | 555,396 | $73.7M | Reduce -3.2% |
| CVX Chevron Corp. | 0.33% | 428,341 | $71.7M | Reduce -7.5% |
| ARW Arrow Electronics Inc. | 0.33% | 685,051 | $71.1M | Add +23.4% |
| BMRN Biomarin Pharmaceutical Inc. | 0.32% | 991,486 | $70.1M | Reduce -0.2% |
| DELL Dell Technologies -C | 0.32% | 750,323 | $68.4M | Add +800.9% |
| MRK Merck & Co. Inc. | 0.31% | 757,094 | $68.0M | Reduce -2.6% |
| YUM Yum! Brands Inc. | 0.30% | 419,217 | $66.0M | Add +1.9% |
| INTC Intel Corp. | 0.30% | 2,898,668 | $65.8M | Reduce -11.4% |
| CL Colgate-Palmolive Co. | 0.29% | 666,659 | $62.5M | Add +22.0% |
| HPQ HP Inc. | 0.27% | 2,152,019 | $59.6M | Add +54.2% |
| MTCH Match Group Inc. | 0.27% | 1,907,864 | $59.5M | Reduce -0.4% |
| MCD McDonald's Corp. | 0.27% | 187,886 | $58.7M | Add +26.0% |
| ISRG Intuitive Surgical Inc. | 0.27% | 117,652 | $58.3M | Add +17.0% |
| VZ Verizon Communications Inc. | 0.26% | 1,266,255 | $57.4M | Add +3.2% |
| SWKS Skyworks Solutions Inc. | 0.25% | 841,856 | $54.4M | Reduce -1.4% |
| ICE Intercontinental Exchange Inc. | 0.25% | 313,729 | $54.1M | Add +3.3% |
| CRM Salesforce Inc. | 0.25% | 201,107 | $54.0M | Reduce -62.5% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.24% | 1,262,812 | $52.8M | Add +0.3% |
| AMGN Amgen Inc. | 0.24% | 167,665 | $52.2M | Add +1.8% |
| CSCO Cisco Systems Inc. | 0.24% | 829,820 | $51.2M | Reduce -60.6% |
| DE Deere & Co. | 0.23% | 105,644 | $49.6M | Reduce -3.6% |
| UNP Union Pacific Corp. | 0.23% | 207,184 | $48.9M | Reduce -1.4% |
| ANET Arista Networks Inc. | 0.22% | 622,011 | $48.2M | Add +220.6% |
| DECK Deckers Outdoor Corp. | 0.22% | 430,827 | $48.2M | Add +27.6% |
| BSX Boston Scientific Corp. | 0.22% | 475,528 | $48.0M | Add +3.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.22% | 192,790 | $47.9M | Reduce -27.6% |
| CCK Crown Holdings Inc. | 0.22% | 531,961 | $47.5M | Add +2.0% |
| T AT&T Inc. | 0.22% | 1,671,857 | $47.3M | Reduce -5.4% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.21% | 590,907 | $45.9M | Reduce -7.0% |
| TXN Texas Instruments Inc. | 0.21% | 251,113 | $45.1M | Reduce -14.3% |
| QCOM Qualcomm Inc. | 0.21% | 289,632 | $44.5M | Reduce -1.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.20% | 441,153 | $43.5M | Add +33.7% |
| SO The Southern Co. | 0.20% | 472,885 | $43.5M | Reduce -2.1% |
| BMY Bristol-Myers Squibb Co. | 0.20% | 712,151 | $43.4M | Add +0.4% |
| LIN Linde PLC | 0.20% | 92,999 | $43.3M | Reduce -1.2% |
| APO Apollo Global Management Inc. | 0.20% | 310,358 | $42.5M | Add +48.9% |
| WFC Wells Fargo & Co. | 0.19% | 585,727 | $42.0M | Reduce -4.5% |
| MTZ Mastec Inc. | 0.19% | 355,222 | $41.5M | Add +33.0% |
| PGR Progressive Corp. | 0.19% | 145,860 | $41.3M | Reduce -0.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.19% | 338,759 | $41.3M | Add +42.8% |
| ADP Automatic Data Processing | 0.19% | 134,215 | $41.0M | Reduce -8.2% |
| UBER Uber Technologies Inc. | 0.18% | 539,433 | $39.3M | Reduce -2.9% |
| WM Waste Management Inc. | 0.18% | 168,840 | $39.1M | Reduce -1.7% |
| BLK BlackRock Finance Inc. | 0.18% | 40,882 | $38.7M | Reduce -34.4% |
| APH Amphenol Corp. Class A | 0.18% | 588,749 | $38.6M | Reduce -19.0% |
Portfolio Sells Q4 2024 → Q1 2025
| GOOGL Alphabet Inc. Class A | Reduce -10.0% | 5.10% | −1.41 |
| V Visa Inc. Class A | Reduce -50.4% | 1.67% | −1.18 |
| EA Electronic Arts Inc. | Reduce -98.0% | 0.02% | −1.04 |
| WDC Western Digital Corp. | Reduce -27.9% | 1.04% | −0.96 |
| MA Mastercard Inc. Class A | Reduce -43.1% | 1.51% | −0.89 |
| AAPL Apple Inc. | Reduce -9.1% | 3.58% | −0.59 |
| CRM Salesforce Inc. | Reduce -62.5% | 0.25% | −0.53 |
| META Meta Platforms Inc. Class A | Reduce -15.5% | 3.49% | −0.45 |
| TSLA Tesla Inc. | Reduce -2.6% | 0.72% | −0.36 |
| CSCO Cisco Systems Inc. | Reduce -60.6% | 0.24% | −0.30 |
| TTWO Take-Two Interactive Softwre | Reduce -35.3% | 0.93% | −0.27 |
| WDAY Workday Inc. Class A | Reduce -85.2% | 0.04% | −0.24 |
| GLW Corning Inc. | Reduce -87.2% | 0.03% | −0.22 |
| MTB M & T Bank Corp. | Reduce -69.0% | 0.09% | −0.20 |
| JPM JPMorgan Chase & Co. | Reduce -24.9% | 0.86% | −0.19 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -4.9% | 0.68% | −0.12 |
| NFLX Netflix Inc. | Reduce -29.3% | 0.43% | −0.12 |
| HUM Humana Inc. | Reduce -62.2% | 0.08% | −0.11 |
| GOOG Alphabet Inc. Class C | Reduce -1.4% | 0.65% | −0.10 |
| BLK BlackRock Finance Inc. | Reduce -34.4% | 0.18% | −0.10 |
| PYPL PayPal Holdings Inc. | Reduce -61.9% | 0.04% | −0.09 |
| MS Morgan Stanley | Reduce -15.3% | 0.42% | −0.08 |
| PTON Peloton Interactive Inc. Class A | Reduce -78.5% | 0.02% | −0.08 |
| PFE Pfizer Inc. | Reduce -37.0% | 0.14% | −0.08 |
| SWKS Skyworks Solutions Inc. | Reduce -1.4% | 0.25% | −0.08 |
| USB US Bancorp | Reduce -53.6% | 0.05% | −0.07 |
| YUMC Yum China Holdings Inc. | Reduce -92.0% | 0.01% | −0.06 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -51.8% | 0.07% | −0.06 |
| BDX Becton Dickinson and Co. | Reduce -54.2% | 0.06% | −0.06 |
| LVS Las Vegas Sands Corp. | Reduce -15.8% | 0.11% | −0.05 |
| VIK Viking Holdings Ltd. | Reduce -21.6% | 0.16% | −0.05 |
| SRE Sempra | Reduce -30.4% | 0.08% | −0.05 |
| WBD Warner Bros Discovery Inc. | Reduce -73.9% | 0.02% | −0.05 |
| WCN Waste Connections Inc. | Reduce -58.8% | 0.05% | −0.05 |
| CRH CRH PLC | Reduce -37.1% | 0.08% | −0.05 |
| KLAC KLA Corp. | Reduce -44.8% | 0.08% | −0.04 |
| APH Amphenol Corp. Class A | Reduce -19.0% | 0.18% | −0.04 |
| PNC PNC Financial Services Group | Reduce -38.3% | 0.06% | −0.04 |
| ADTN Adtran Holdings Inc. | Reduce -29.3% | 0.14% | −0.04 |
| PAYX Paychex Inc. | Reduce -44.8% | 0.07% | −0.04 |
| ENPH Enphase Energy Inc. | Reduce -21.0% | 0.12% | −0.04 |
| BX Blackstone Inc. | Reduce -3.2% | 0.16% | −0.03 |
| EOG EOG Resources Inc. | Reduce -41.1% | 0.06% | −0.03 |
| IBM Intl Business Machines Corp. | Reduce -27.6% | 0.22% | −0.03 |
| ITCI Intra-Cellular Therapies Inc. | Sold out | 0.00% | −0.03 |
| FIS Fidelity National Info Serv | Reduce -47.1% | 0.03% | −0.03 |
| TXN Texas Instruments Inc. | Reduce -14.3% | 0.21% | −0.03 |
| RUN Sunrun Inc. | Reduce -6.3% | 0.05% | −0.03 |
| DAR Darling Ingredients Inc. | Reduce -14.0% | 0.16% | −0.03 |
| GRMN Garmin Ltd. | Sold out | 0.00% | −0.03 |
Portfolio Buys Q4 2024 → Q1 2025
| ORCL Oracle Corp. | Add +576.1% | 1.41% | +1.18 |
| BKNG Booking Holdings Inc. | Add +469.6% | 0.72% | +0.59 |
| LRCX Lam Research Corp. | Add +172.8% | 0.86% | +0.57 |
| SNDK Sandisk Corp. | Add +90.5% | 1.08% | +0.55 |
| NVDA Nvidia Corp. | Add +28.5% | 5.75% | +0.54 |
| MRVL Marvell Technology Inc. | Add +1167.6% | 0.57% | +0.50 |
| ACN Accenture PLC Class A | Add +271.5% | 0.62% | +0.44 |
| ADBE Adobe Inc. | Add +115.2% | 0.79% | +0.39 |
| AMD Advanced Micro Devices | Add +161.7% | 0.56% | +0.33 |
| C Citigroup Inc. | Add +145.3% | 0.48% | +0.30 |
| DELL Dell Technologies -C | Add +800.9% | 0.32% | +0.27 |
| TMUS T-Mobile US Inc. | Add +13.8% | 0.74% | +0.23 |
| UNH Unitedhealth Group Inc. | Add +22.5% | 0.80% | +0.21 |
| CB Chubb Ltd. | Add +13.6% | 0.78% | +0.19 |
| AVGO Broadcom Inc. | Add +50.1% | 1.36% | +0.18 |
| CCEP Coca-Cola Europacific Partne | Add +32.8% | 0.45% | +0.17 |
| WMT Walmart Inc. | Add +25.7% | 0.75% | +0.17 |
| ZS Zscaler Inc. | Add +12.1% | 0.68% | +0.16 |
| ANET Arista Networks Inc. | Add +220.6% | 0.22% | +0.13 |
| COST Costco Wholesale Corp. | Add +22.6% | 0.48% | +0.12 |
| PG The Procter & Gamble Co. | Add +23.1% | 0.44% | +0.11 |
| MSFT Microsoft Corp. | Add +6.7% | 8.60% | +0.11 |
| PEP Pepsico Inc. | Add +17.1% | 0.51% | +0.10 |
| MCD McDonald's Corp. | Add +26.0% | 0.27% | +0.08 |
| MELI MercadoLibre Inc. | Add +2.7% | 0.41% | +0.08 |
| HPQ HP Inc. | Add +54.2% | 0.27% | +0.08 |
| MMM 3M Co. | Add +52.2% | 0.17% | +0.08 |
| CTAS Cintas Corp. | Add +96.1% | 0.13% | +0.08 |
| CL Colgate-Palmolive Co. | Add +22.0% | 0.29% | +0.07 |
| PEG Public Service Enterprise GP | Add +150.6% | 0.12% | +0.07 |
| TJX TJX Companies Inc. | Add +42.8% | 0.19% | +0.07 |
| RSG Republic Services Inc. | Add +58.7% | 0.13% | +0.07 |
| YUM Yum! Brands Inc. | Add +1.9% | 0.30% | +0.07 |
| OKTA Okta Inc. | Add +426.8% | 0.07% | +0.06 |
| NEE Nextera Energy Inc. | Add +9.3% | 0.46% | +0.06 |
| MRSH Marsh & McLennan Cos | Add +34.8% | 0.15% | +0.06 |
| MDLZ Mondelez International Inc. Class A | Add +44.3% | 0.13% | +0.06 |
| NI Nisource Inc. | Add +259.5% | 0.07% | +0.06 |
| ARW Arrow Electronics Inc. | Add +23.4% | 0.33% | +0.06 |
| AMGN Amgen Inc. | Add +1.8% | 0.24% | +0.06 |
| MCK McKesson Corp. | Add +26.3% | 0.15% | +0.05 |
| ICE Intercontinental Exchange Inc. | Add +3.3% | 0.25% | +0.05 |
| VZ Verizon Communications Inc. | Add +3.2% | 0.26% | +0.05 |
| APO Apollo Global Management Inc. | Add +48.9% | 0.20% | +0.05 |
| BSX Boston Scientific Corp. | Add +3.3% | 0.22% | +0.04 |
| PSX Phillips 66 | Add +3382.9% | 0.04% | +0.04 |
| DIS The Walt Disney Co. | Add +33.7% | 0.20% | +0.04 |
| ISRG Intuitive Surgical Inc. | Add +17.0% | 0.27% | +0.04 |
| MPC Marathon Petroleum Corp. | Add +3334.2% | 0.04% | +0.04 |
| GMED Globus Medical Inc. Class A | New | 0.04% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,276 | $35.7B | MSFT, NVDA, GOOGL, AMZN, AVGO |
| Q1 2026 | 1,235 | $28.0B | MSFT, NVDA, AMZN, GOOGL, AAPL |
| Q4 2025 | 731 | $28.7B | MSFT, NVDA, GOOGL, AMZN, AAPL |
| Q3 2025 | 731 | $26.7B | MSFT, NVDA, GOOGL, AAPL, AMZN |
| Q2 2025 | 716 | $24.1B | MSFT, NVDA, GOOGL, AMZN, META |
| Q1 2025 | 738 | $21.7B | MSFT, NVDA, AMZN, GOOGL, AAPL |
| Q4 2024 | 732 | $23.1B | MSFT, GOOGL, AMZN, NVDA, AAPL |
| Q3 2024 | 715 | $22.1B | MSFT, GOOGL, NVDA, AMZN, META |
| Q2 2024 | 708 | $21.0B | MSFT, GOOGL, NVDA, AMZN, AAPL |
| Q1 2024 | 705 | $19.2B | MSFT, META, GOOGL, NVDA, AAPL |