DNB Asset Management AS
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), DNB Asset Management AS reported 716 stock positions worth $24.1 billion. Its top holding was Microsoft (MSFT) at 9.6% of the portfolio, followed by Nvidia (NVDA, 6.5%) and Alphabet Class A (GOOGL, 4.7%). Compared with Q1 2025, it opened 46 new positions, sold out of 69, added to 376 and reduced 263. The biggest buy was Taiwan Semiconductor-SP ADR (TSM, shares +84%) and the biggest sale Take-Two Interactive Softwre (TTWO, shares −94%).
- Most Recent 13F
- Q2 2026
- Location
- Oslo, Q8
- CIK
- 0001456670
- Portfolio Value
- $24.1B (Q2 2025)
- SEC Filing
- 0000912282-25-000858 ↗ filed Aug 12, 2025
Holdings Value
Holdings 716 stocks · $24.1B
| MSFT Microsoft Corp. | 9.55% | 4,632,901 | $2.3B | Reduce -6.8% |
| NVDA Nvidia Corp. | 6.47% | 9,872,268 | $1.6B | Reduce -14.2% |
| GOOGL Alphabet Inc. Class A | 4.74% | 6,493,371 | $1.1B | Reduce -9.2% |
| AMZN Amazon.com Inc. | 4.73% | 5,202,655 | $1.1B | Reduce -16.9% |
| META Meta Platforms Inc. Class A | 4.14% | 1,353,763 | $999.2M | Add +3.1% |
| AAPL Apple Inc. | 4.05% | 4,760,592 | $976.7M | Add +36.2% |
| MA Mastercard Inc. Class A | 2.24% | 961,051 | $540.1M | Add +60.6% |
| ORCL Oracle Corp. | 1.98% | 2,188,630 | $478.5M | Add +0.1% |
| V Visa Inc. Class A | 1.79% | 1,216,016 | $431.7M | Add +17.4% |
| AVGO Broadcom Inc. | 1.69% | 1,477,006 | $407.1M | Reduce -16.2% |
| TSM Taiwan Semiconductor-SP ADR | 1.53% | 1,629,486 | $369.0M | Add +83.9% |
| SNDK Sandisk Corp. | 1.34% | 7,109,285 | $322.4M | Add +44.9% |
| WDC Western Digital Corp. | 1.28% | 4,842,066 | $309.8M | Reduce -13.2% |
| LRCX Lam Research Corp. | 1.27% | 3,140,813 | $305.7M | Add +22.0% |
| LLY Eli Lilly & Co. | 1.15% | 354,840 | $276.6M | Add +9.4% |
| DDOG Datadog Inc. Class A | 0.91% | 1,628,900 | $218.8M | Reduce -26.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.87% | 4,448,437 | $210.5M | Add +2.6% |
| CRM Salesforce Inc. | 0.86% | 758,716 | $206.9M | Add +277.3% |
| TSLA Tesla Inc. | 0.84% | 641,447 | $203.8M | Add +5.9% |
| JPM JPMorgan Chase & Co. | 0.83% | 690,396 | $200.2M | Reduce -8.8% |
| BKNG Booking Holdings Inc. | 0.82% | 34,076 | $197.3M | Add +0.5% |
| JNJ Johnson & Johnson | 0.80% | 1,256,126 | $191.9M | Add +4.0% |
| WMT Walmart Inc. | 0.78% | 1,921,528 | $187.9M | Add +3.2% |
| CB Chubb Ltd. | 0.75% | 626,184 | $181.4M | Add +11.4% |
| GOOG Alphabet Inc. Class C | 0.70% | 950,341 | $168.6M | Add +4.9% |
| TEAM Atlassian Corp. Class A | 0.64% | 765,678 | $155.5M | Add +2676.8% |
| C Citigroup Inc. | 0.60% | 1,689,437 | $143.8M | Add +15.5% |
| NFLX Netflix Inc. | 0.56% | 101,637 | $136.1M | Add +0.9% |
| AMD Advanced Micro Devices | 0.56% | 949,573 | $134.7M | Reduce -20.1% |
| TMUS T-Mobile US Inc. | 0.55% | 559,942 | $133.4M | Reduce -6.7% |
| CHKP Check Point Software Tech | 0.55% | 602,579 | $133.3M | Reduce -47.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.55% | 273,116 | $132.7M | Reduce -18.5% |
| SPGI S&P Global Inc. | 0.55% | 249,767 | $131.7M | Add +2.9% |
| INTC Intel Corp. | 0.54% | 5,813,970 | $130.2M | Add +100.6% |
| EMR Emerson Electric Co. | 0.51% | 924,084 | $123.2M | Add +0.8% |
| NOW ServiceNow Inc. | 0.51% | 119,321 | $122.7M | Reduce -15.3% |
| UNH Unitedhealth Group Inc. | 0.49% | 379,725 | $118.5M | Add +14.4% |
| MELI MercadoLibre Inc. | 0.47% | 43,508 | $113.7M | Reduce -4.2% |
| MS Morgan Stanley | 0.46% | 783,785 | $110.4M | Add +0.7% |
| XOM Exxon Mobil Corp. | 0.45% | 1,017,586 | $109.7M | Add +6.8% |
| ISRG Intuitive Surgical Inc. | 0.45% | 199,007 | $108.1M | Add +69.2% |
| PEP Pepsico Inc. | 0.44% | 796,465 | $105.2M | Add +8.2% |
| CSCO Cisco Systems Inc. | 0.42% | 1,463,981 | $101.6M | Add +76.4% |
| CRTO Criteo SA-Spon | 0.41% | 4,136,684 | $99.1M | Reduce -24.9% |
| COST Costco Wholesale Corp. | 0.41% | 99,478 | $98.5M | Reduce -9.4% |
| GS Goldman Sachs Group Inc. | 0.40% | 135,883 | $96.2M | Reduce -5.2% |
| NEE Nextera Energy Inc. | 0.40% | 1,375,264 | $95.5M | Reduce -2.4% |
| CCEP Coca-Cola Europacific Partne | 0.40% | 1,348,765 | $95.4M | Reduce -1.8% |
| ABBV Abbvie Inc. | 0.39% | 503,046 | $93.4M | Add +7.3% |
| GE General Electric filed as GE AEROSPACE | 0.37% | 348,448 | $89.7M | Reduce -10.7% |
| PG The Procter & Gamble Co. | 0.36% | 549,894 | $87.6M | Reduce -2.9% |
| HD Home Depot Inc. | 0.36% | 237,305 | $87.0M | Reduce -2.9% |
| ADBE Adobe Inc. | 0.36% | 222,027 | $85.9M | Reduce -50.5% |
| CL Colgate-Palmolive Co. | 0.35% | 919,833 | $83.6M | Add +38.0% |
| MRVL Marvell Technology Inc. | 0.35% | 1,075,313 | $83.2M | Reduce -46.7% |
| MDT Medtronic PLC | 0.33% | 903,482 | $78.8M | Reduce -5.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.32% | 261,950 | $77.2M | Add +35.9% |
| HPQ HP Inc. | 0.31% | 3,095,812 | $75.7M | Add +43.9% |
| ECL Ecolab Inc. | 0.31% | 275,832 | $74.3M | Add +435.3% |
| ABT Abbott Laboratories | 0.28% | 498,461 | $67.8M | Reduce -10.3% |
| YUM Yum! Brands Inc. | 0.27% | 431,652 | $64.0M | Add +3.0% |
| MTZ Mastec Inc. | 0.26% | 364,548 | $62.1M | Add +2.6% |
| BMRN Biomarin Pharmaceutical Inc. | 0.26% | 1,119,330 | $61.5M | Add +12.9% |
| ARW Arrow Electronics Inc. | 0.25% | 471,813 | $60.1M | Reduce -31.1% |
| MRK Merck & Co. Inc. | 0.25% | 754,094 | $59.7M | Reduce -0.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.25% | 477,616 | $59.2M | Add +8.3% |
| T AT&T Inc. | 0.24% | 2,026,055 | $58.6M | Add +21.2% |
| TMO Thermo Fisher Scientific Inc. | 0.23% | 139,314 | $56.5M | Reduce -29.7% |
| PLTR Palantir Technologies Inc. Class A | 0.23% | 413,584 | $56.4M | Add +14.4% |
| ANET Arista Networks Inc. | 0.23% | 550,892 | $56.4M | Reduce -11.4% |
| CCK Crown Holdings Inc. | 0.23% | 546,728 | $56.3M | Add +2.8% |
| CVX Chevron Corp. | 0.23% | 386,965 | $55.4M | Reduce -9.7% |
| CRUS Cirrus Logic Inc. | 0.22% | 504,474 | $52.6M | Add +124.1% |
| MCD McDonald's Corp. | 0.22% | 178,062 | $52.0M | Reduce -5.2% |
| VZ Verizon Communications Inc. | 0.21% | 1,194,060 | $51.7M | Reduce -5.7% |
| ICE Intercontinental Exchange Inc. | 0.21% | 280,196 | $51.4M | Reduce -10.7% |
| APH Amphenol Corp. Class A | 0.21% | 515,093 | $50.9M | Reduce -12.5% |
| DECK Deckers Outdoor Corp. | 0.21% | 491,318 | $50.6M | Add +14.0% |
| TXN Texas Instruments Inc. | 0.21% | 243,675 | $50.6M | Reduce -3.0% |
| DE Deere & Co. | 0.21% | 97,946 | $49.8M | Reduce -7.3% |
| WFC Wells Fargo & Co. | 0.20% | 609,947 | $48.9M | Add +4.1% |
| BSX Boston Scientific Corp. | 0.20% | 441,574 | $47.4M | Reduce -7.1% |
| MTCH Match Group Inc. | 0.19% | 1,521,551 | $47.0M | Reduce -20.3% |
| APO Apollo Global Management Inc. | 0.19% | 324,099 | $46.0M | Add +4.4% |
| LIN Linde PLC | 0.19% | 97,391 | $45.7M | Add +4.7% |
| BBWI Bath & Body Works Inc. | 0.19% | 1,498,255 | $44.9M | Add +35.7% |
| GEV GE Vernova Inc. | 0.19% | 84,344 | $44.6M | Add +8.3% |
| UBER Uber Technologies Inc. | 0.18% | 476,529 | $44.5M | Reduce -11.7% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.18% | 1,294,279 | $43.7M | Add +2.5% |
| INTU Intuit Inc. | 0.18% | 55,470 | $43.7M | Add +23.8% |
| AMGN Amgen Inc. | 0.18% | 155,648 | $43.5M | Reduce -7.2% |
| SWKS Skyworks Solutions Inc. | 0.18% | 578,207 | $43.1M | Reduce -31.3% |
| UNP Union Pacific Corp. | 0.17% | 178,461 | $41.1M | Reduce -13.9% |
| ADP Automatic Data Processing | 0.17% | 132,394 | $40.8M | Reduce -1.4% |
| STT State Street Corp. | 0.17% | 381,654 | $40.6M | Add +31.1% |
| QCOM Qualcomm Inc. | 0.17% | 254,083 | $40.5M | Reduce -12.3% |
| SO The Southern Co. | 0.17% | 436,178 | $40.1M | Reduce -7.8% |
| ETN Eaton Corp. PLC | 0.16% | 109,181 | $39.0M | Add +2.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.16% | 315,316 | $38.9M | Reduce -6.9% |
| VRTX Vertex Pharmaceuticals Inc. | 0.16% | 86,931 | $38.7M | Reduce -50.8% |
Portfolio Sells Q1 2025 → Q2 2025
| TTWO Take-Two Interactive Softwre | Reduce -94.4% | 0.06% | −0.88 |
| AMZN Amazon.com Inc. | Reduce -16.9% | 4.73% | −0.75 |
| CHKP Check Point Software Tech | Reduce -47.9% | 0.55% | −0.66 |
| ZS Zscaler Inc. | Reduce -97.3% | 0.03% | −0.66 |
| CRTO Criteo SA-Spon | Reduce -24.9% | 0.41% | −0.49 |
| ACN Accenture PLC Class A | Reduce -72.2% | 0.15% | −0.47 |
| ADBE Adobe Inc. | Reduce -50.5% | 0.36% | −0.44 |
| GOOGL Alphabet Inc. Class A | Reduce -9.2% | 4.74% | −0.35 |
| DELL Dell Technologies -C | Reduce -92.2% | 0.03% | −0.29 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -18.5% | 0.55% | −0.27 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -50.8% | 0.16% | −0.23 |
| MRVL Marvell Technology Inc. | Reduce -46.7% | 0.35% | −0.23 |
| TMO Thermo Fisher Scientific Inc. | Reduce -29.7% | 0.23% | −0.22 |
| IFF Intl Flavors & Fragrances | Reduce -91.3% | 0.02% | −0.20 |
| TMUS T-Mobile US Inc. | Reduce -6.7% | 0.55% | −0.18 |
| MTN Vail Resorts Inc. | Sold out | 0.00% | −0.13 |
| DDOG Datadog Inc. Class A | Reduce -26.2% | 0.91% | −0.10 |
| CVX Chevron Corp. | Reduce -9.7% | 0.23% | −0.10 |
| LVS Las Vegas Sands Corp. | Reduce -89.5% | 0.01% | −0.10 |
| Spotify Technology S.A. | Sold out | 0.00% | −0.09 |
| PG The Procter & Gamble Co. | Reduce -2.9% | 0.36% | −0.08 |
| MTCH Match Group Inc. | Reduce -20.3% | 0.19% | −0.08 |
| ARW Arrow Electronics Inc. | Reduce -31.1% | 0.25% | −0.08 |
| VIK Viking Holdings Ltd. | Reduce -54.5% | 0.09% | −0.07 |
| SWKS Skyworks Solutions Inc. | Reduce -31.3% | 0.18% | −0.07 |
| BMY Bristol-Myers Squibb Co. | Reduce -5.0% | 0.13% | −0.07 |
| COST Costco Wholesale Corp. | Reduce -9.4% | 0.41% | −0.07 |
| MDT Medtronic PLC | Reduce -5.0% | 0.33% | −0.07 |
| PGR Progressive Corp. | Reduce -23.6% | 0.12% | −0.07 |
| MRK Merck & Co. Inc. | Reduce -0.4% | 0.25% | −0.07 |
| NEE Nextera Energy Inc. | Reduce -2.4% | 0.40% | −0.06 |
| VAL Valaris Ltd. | Sold out | 0.00% | −0.06 |
| ENPH Enphase Energy Inc. | Reduce -22.0% | 0.05% | −0.06 |
| CI The Cigna Group | Reduce -29.9% | 0.11% | −0.06 |
| AMGN Amgen Inc. | Reduce -7.2% | 0.18% | −0.06 |
| ABT Abbott Laboratories | Reduce -10.3% | 0.28% | −0.06 |
| CCEP Coca-Cola Europacific Partne | Reduce -1.8% | 0.40% | −0.06 |
| BLK BlackRock Inc. | Reduce -31.5% | 0.12% | −0.06 |
| UNP Union Pacific Corp. | Reduce -13.9% | 0.17% | −0.06 |
| FANG Diamondback Energy Inc. | Reduce -13.6% | 0.11% | −0.06 |
| MCD McDonald's Corp. | Reduce -5.2% | 0.22% | −0.05 |
| FISV Fiserv Inc. | Reduce -8.5% | 0.10% | −0.05 |
| HD Home Depot Inc. | Reduce -2.9% | 0.36% | −0.05 |
| VZ Verizon Communications Inc. | Reduce -5.7% | 0.21% | −0.05 |
| CME Cme Group Inc. | Reduce -26.3% | 0.11% | −0.05 |
| DASH DoorDash Inc. Class A | Reduce -51.9% | 0.07% | −0.05 |
| MRSH Marsh & McLennan Cos | Reduce -12.9% | 0.11% | −0.05 |
| REGN Regeneron Pharmaceuticals | Reduce -6.9% | 0.10% | −0.04 |
| ADTN Adtran Holdings Inc. | Reduce -23.1% | 0.10% | −0.04 |
| WM Waste Management Inc. | Reduce -12.8% | 0.14% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| TSM Taiwan Semiconductor-SP ADR | Add +83.9% | 1.53% | +0.85 |
| MA Mastercard Inc. Class A | Add +60.6% | 2.24% | +0.73 |
| META Meta Platforms Inc. Class A | Add +3.1% | 4.14% | +0.65 |
| TEAM Atlassian Corp. Class A | Add +2676.8% | 0.64% | +0.62 |
| CRM Salesforce Inc. | Add +277.3% | 0.86% | +0.61 |
| ORCL Oracle Corp. | Add +0.1% | 1.98% | +0.57 |
| AAPL Apple Inc. | Add +36.2% | 4.05% | +0.47 |
| LRCX Lam Research Corp. | Add +22.0% | 1.27% | +0.41 |
| SNDK Sandisk Corp. | Add +44.9% | 1.34% | +0.26 |
| ECL Ecolab Inc. | Add +435.3% | 0.31% | +0.25 |
| INTC Intel Corp. | Add +100.6% | 0.54% | +0.24 |
| CSCO Cisco Systems Inc. | Add +76.4% | 0.42% | +0.19 |
| ISRG Intuitive Surgical Inc. | Add +69.2% | 0.45% | +0.18 |
| NFLX Netflix Inc. | Add +0.9% | 0.56% | +0.13 |
| SPOT Spotify Technology SA | New | 0.12% | +0.12 |
| TSLA Tesla Inc. | Add +5.9% | 0.84% | +0.12 |
| C Citigroup Inc. | Add +15.5% | 0.60% | +0.12 |
| V Visa Inc. Class A | Add +17.4% | 1.79% | +0.12 |
| CRUS Cirrus Logic Inc. | Add +124.1% | 0.22% | +0.11 |
| IBM Intl Business Machines Corp. | Add +35.9% | 0.32% | +0.10 |
| BKNG Booking Holdings Inc. | Add +0.5% | 0.82% | +0.10 |
| PLTR Palantir Technologies Inc. Class A | Add +14.4% | 0.23% | +0.09 |
| PTON Peloton Interactive Inc. Class A | Add +592.6% | 0.11% | +0.09 |
| GEV GE Vernova Inc. | Add +8.3% | 0.19% | +0.08 |
| MTZ Mastec Inc. | Add +2.6% | 0.26% | +0.07 |
| CL Colgate-Palmolive Co. | Add +38.0% | 0.35% | +0.06 |
| INTU Intuit Inc. | Add +23.8% | 0.18% | +0.05 |
| CEG Constellation Energy | Add +15.6% | 0.13% | +0.05 |
| MU Micron Technology Inc. | Add +18.7% | 0.16% | +0.05 |
| COF Capital One Financial Corp. | Add +73.1% | 0.11% | +0.05 |
| VST Vistra Corp. | Add +13.3% | 0.12% | +0.05 |
| STT State Street Corp. | Add +31.1% | 0.17% | +0.05 |
| EMR Emerson Electric Co. | Add +0.8% | 0.51% | +0.05 |
| SDRL Seadrill Limited | Add +288.4% | 0.06% | +0.05 |
| GOOG Alphabet Inc. Class C | Add +4.9% | 0.70% | +0.05 |
| DIS The Walt Disney Co. | Add +8.3% | 0.25% | +0.04 |
| AMAT Applied Materials Inc. | Add +24.8% | 0.14% | +0.04 |
| SBUX Starbucks Corp. | Add +72.1% | 0.13% | +0.04 |
| HPQ HP Inc. | Add +43.9% | 0.31% | +0.04 |
| MS Morgan Stanley | Add +0.7% | 0.46% | +0.04 |
| KLAC KLA Corp. | Add +27.6% | 0.12% | +0.04 |
| BAC Bank of America Corp. | Add +2.6% | 0.87% | +0.04 |
| KMI Kinder Morgan Inc. | Add +93.2% | 0.09% | +0.04 |
| HWM Howmet Aerospace Inc. | Add +24.1% | 0.10% | +0.04 |
| WMB Williams Cos Inc. | Add +62.4% | 0.10% | +0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +13.3% | 0.10% | +0.03 |
| BBWI Bath & Body Works Inc. | Add +35.7% | 0.19% | +0.03 |
| HOOD Robinhood Markets Inc. Class A | Add +27.0% | 0.05% | +0.03 |
| ETN Eaton Corp. PLC | Add +2.4% | 0.16% | +0.03 |
| AXON Axon Enterprise Inc. | Add +12.4% | 0.08% | +0.03 |
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 |