GAM Holding AG
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), GAM Holding AG reported 168 stock positions worth $1.4 billion. Its top holding was Microsoft (MSFT) at 6.5% of the portfolio, followed by Linde (LIN, 4.5%) and Nvidia (NVDA, 4.2%). Compared with Q4 2023, it opened 25 new positions, sold out of 19, added to 44 and reduced 88. The biggest buy was a new position in On Class A (ONON) and the biggest sale Lululemon Athletica (LULU, shares −42%).
- Most Recent 13F
- Q2 2026
- Location
- Zurich, V8
- CIK
- 0001438848
- Portfolio Value
- $1.4B (Q1 2024)
- SEC Filing
- 0001172661-24-002228 ↗ filed May 13, 2024
Holdings Value
Holdings 168 stocks · $1.4B
| MSFT Microsoft Corp. | 6.48% | 212,861 | $89.6M | Reduce -2.3% |
| LIN Linde PLC | 4.46% | 132,873 | $61.7M | Reduce -14.8% |
| NVDA Nvidia Corp. | 4.23% | 64,703 | $58.5M | Reduce -3.2% |
| GOOGL Alphabet Inc. Class A | 4.16% | 381,254 | $57.5M | Reduce -0.7% |
| META Meta Platforms Inc. Class A | 3.07% | 87,416 | $42.4M | Add +5.6% |
| AMZN Amazon.com Inc. | 2.51% | 192,618 | $34.7M | Reduce -1.2% |
| ISRG Intuitive Surgical Inc. | 2.15% | 74,315 | $29.7M | Add +23.9% |
| V Visa Inc. Class A | 1.75% | 86,651 | $24.2M | Add +6.9% |
| ORCL Oracle Corp. | 1.71% | 188,033 | $23.6M | Reduce -6.0% |
| MAR Marriott International Class A | 1.53% | 83,957 | $21.2M | Reduce -9.8% |
| MA Mastercard Inc. Class A | 1.39% | 39,969 | $19.2M | Add +3.4% |
| UNH Unitedhealth Group Inc. | 1.36% | 38,052 | $18.8M | Add +27.3% |
| ADBE Adobe Inc. | 1.34% | 36,646 | $18.5M | Add +32.0% |
| NFLX Netflix Inc. | 1.32% | 30,016 | $18.2M | Reduce -7.4% |
| HLT Hilton Worldwide Holdings Inc. | 1.25% | 81,294 | $17.3M | No change |
| NOW ServiceNow Inc. | 1.23% | 22,304 | $17.0M | Reduce -2.1% |
| XOM Exxon Mobil Corp. | 1.21% | 143,816 | $16.7M | Add +0.4% |
| UBER Uber Technologies Inc. | 1.17% | 209,519 | $16.1M | Reduce -27.7% |
| AVGO Broadcom Inc. | 1.12% | 11,663 | $15.5M | Reduce -4.1% |
| PYPL PayPal Holdings Inc. | 1.09% | 224,927 | $15.1M | Reduce -4.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.08% | 122,052 | $14.9M | Add +0.7% |
| AAPL Apple Inc. | 1.08% | 86,856 | $14.9M | Reduce -6.4% |
| DELL Dell Technologies -C | 1.05% | 127,576 | $14.6M | Reduce -30.0% |
| JPM JPMorgan Chase & Co. | 1.00% | 68,862 | $13.8M | Add +0.3% |
| LULU Lululemon Athletica Inc. | 0.99% | 35,104 | $13.7M | Reduce -42.4% |
| FISV Fiserv Inc. | 0.99% | 85,265 | $13.6M | Reduce -4.4% |
| COP Conocophillips | 0.97% | 105,064 | $13.4M | Add +0.5% |
| VOO Vanguard S&P 500 ETF | 0.94% | 27,157 | $13.1M | Reduce -29.9% |
| MRK Merck & Co. Inc. | 0.93% | 97,351 | $12.8M | Add +0.5% |
| BMY Bristol-Myers Squibb Co. | 0.90% | 230,409 | $12.5M | Reduce -3.1% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.90% | 350,700 | $12.4M | New |
| MKL Markel Group Inc. | 0.88% | 8,027 | $12.2M | Add +0.3% |
| NXPI NXP Semiconductors NV | 0.88% | 48,981 | $12.1M | Reduce -5.1% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.86% | 37,137 | $11.9M | Reduce -10.9% |
| ZGN Ermenegildo Zegna NV | 0.85% | 806,500 | $11.8M | New |
| BKNG Booking Holdings Inc. | 0.85% | 3,255 | $11.8M | Reduce -3.9% |
| MCHP Microchip Technology Inc. | 0.83% | 127,530 | $11.4M | Reduce -12.4% |
| LLY Eli Lilly & Co. | 0.81% | 14,348 | $11.2M | Reduce -4.6% |
| SNOW Snowflake Inc. | 0.79% | 67,435 | $10.9M | Add +24.7% |
| NKE Nike Inc. Class B | 0.79% | 115,947 | $10.9M | Reduce -46.6% |
| PTC PTC Inc. | 0.76% | 55,509 | $10.5M | Reduce -34.5% |
| WDAY Workday Inc. Class A | 0.75% | 38,217 | $10.4M | Reduce -1.0% |
| COST Costco Wholesale Corp. | 0.72% | 13,659 | $10.0M | Add +129.1% |
| ABNB Airbnb Inc. Class A | 0.72% | 60,460 | $10.0M | Reduce -39.0% |
| STX Seagate Technology Holdings | 0.72% | 107,095 | $10.0M | Reduce -51.7% |
| EOG EOG Resources Inc. | 0.71% | 76,408 | $9.8M | Add +0.6% |
| SCHW Schwab (charles) Corp. | 0.69% | 132,263 | $9.6M | Reduce -11.4% |
| JNJ Johnson & Johnson | 0.68% | 59,710 | $9.4M | Reduce -29.0% |
| KLAC KLA Corp. | 0.67% | 13,177 | $9.2M | Reduce -0.9% |
| PSA Public Storage | 0.66% | 31,524 | $9.1M | Add +0.8% |
| UPS United Parcel Service Class B | 0.66% | 61,324 | $9.1M | New |
| MO Altria Group Inc. | 0.66% | 208,576 | $9.1M | Add +0.1% |
| CSCO Cisco Systems Inc. | 0.65% | 180,689 | $9.0M | Reduce -6.0% |
| INFY Infosys Ltd.-SP ADR | 0.65% | 501,129 | $9.0M | Add +1.0% |
| TEL Te Connectivity Ltd. | 0.64% | 60,530 | $8.8M | Reduce -7.3% |
| MDT Medtronic PLC | 0.64% | 100,802 | $8.8M | Reduce -4.8% |
| INTU Intuit Inc. | 0.63% | 13,366 | $8.7M | Add +127.6% |
| NET Cloudflare Inc. Class A | 0.61% | 87,357 | $8.5M | Reduce -41.2% |
| EA Electronic Arts Inc. | 0.61% | 63,123 | $8.4M | Add +0.2% |
| ELV Elevance Health Inc. | 0.58% | 15,569 | $8.1M | Add +0.4% |
| AFL Aflac Inc. | 0.58% | 93,636 | $8.0M | Add +0.4% |
| DXCM Dexcom Inc. | 0.57% | 57,299 | $7.9M | Reduce -4.6% |
| HBAN Huntington Bancshares Inc. | 0.57% | 560,801 | $7.8M | Add +0.5% |
| TCOM Trip.com Group Ltd.-ADR | 0.54% | 168,686 | $7.4M | Add +27.5% |
| CDNS Cadence Design SYS Inc. | 0.52% | 23,268 | $7.2M | Add +83.7% |
| OSW Onespaworld Holdings Ltd. | 0.52% | 540,500 | $7.2M | New |
| AMAT Applied Materials Inc. | 0.52% | 34,650 | $7.1M | Reduce -2.3% |
| ACN Accenture PLC Class A | 0.50% | 20,007 | $6.9M | Reduce -0.1% |
| CNC Centene Corp. | 0.50% | 87,465 | $6.9M | Add +0.5% |
| YMM Full Truck Alliance -SPN ADR | 0.50% | 942,671 | $6.9M | Reduce -24.0% |
| HLN Haleon PLC-ADR | 0.49% | 801,500 | $6.8M | Add +0.4% |
| BAH Booz Allen Hamilton Holdings | 0.49% | 45,359 | $6.7M | Reduce -4.9% |
| EXPE Expedia Group Inc. | 0.48% | 48,315 | $6.7M | Reduce -1.0% |
| CAT Caterpillar Inc. | 0.48% | 17,964 | $6.6M | Reduce -0.1% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.44% | 39,669 | $6.1M | Reduce -68.6% |
| ADI Analog Devices Inc. | 0.44% | 30,853 | $6.1M | Add +77.5% |
| TMO Thermo Fisher Scientific Inc. | 0.43% | 10,198 | $5.9M | Reduce -1.3% |
| C Citigroup Inc. | 0.43% | 93,529 | $5.9M | Add +0.2% |
| COIN Coinbase Global Inc. Class A | 0.42% | 21,707 | $5.8M | Reduce -59.4% |
| FSLY Fastly Inc. Class A | 0.41% | 437,660 | $5.7M | No change |
| NDAQ Nasdaq Inc. | 0.40% | 88,009 | $5.6M | Reduce -2.7% |
| USB US Bancorp | 0.40% | 124,050 | $5.5M | Add +0.4% |
| CRM Salesforce Inc. | 0.40% | 18,385 | $5.5M | New |
| LRCX Lam Research Corp. | 0.36% | 5,158 | $5.0M | Add +0.0% |
| VRSK Verisk Analytics Inc. | 0.36% | 21,180 | $5.0M | Reduce -2.3% |
| GILD Gilead Sciences Inc. | 0.36% | 68,067 | $5.0M | Reduce -7.7% |
| WIX Wix.com Ltd. | 0.36% | 35,851 | $4.9M | New |
| PGR Progressive Corp. | 0.35% | 23,669 | $4.9M | Reduce -6.8% |
| AME Ametek Inc. | 0.35% | 26,740 | $4.9M | Reduce -2.0% |
| KO The Coca-Cola Co. | 0.35% | 78,151 | $4.8M | Reduce -2.3% |
| MRVL Marvell Technology Inc. | 0.35% | 67,321 | $4.8M | Reduce -41.5% |
| AMD Advanced Micro Devices | 0.32% | 24,563 | $4.4M | Reduce -68.7% |
| VRTX Vertex Pharmaceuticals Inc. | 0.31% | 10,316 | $4.3M | Add +0.1% |
| HD Home Depot Inc. | 0.30% | 10,877 | $4.2M | Reduce -2.3% |
| DHR Danaher Corp. | 0.29% | 16,298 | $4.1M | Reduce -2.3% |
| ETN Eaton Corp. PLC | 0.29% | 12,913 | $4.0M | Reduce -3.7% |
| WBD Warner Bros Discovery Inc. | 0.29% | 457,455 | $4.0M | Reduce -4.6% |
| AMGN Amgen Inc. | 0.28% | 13,705 | $3.9M | Reduce -4.1% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.27% | 15,122 | $3.8M | Add +0.3% |
| HON Honeywell International Inc. | 0.27% | 18,007 | $3.7M | Add +0.2% |
Portfolio Sells Q4 2023 → Q1 2024
| LULU Lululemon Athletica Inc. | Reduce -42.4% | 0.99% | −1.33 |
| NKE Nike Inc. Class B | Reduce -46.6% | 0.79% | −0.97 |
| EL Estee Lauder Companies Class A | Reduce -68.6% | 0.44% | −0.93 |
| STX Seagate Technology Holdings | Reduce -51.7% | 0.72% | −0.69 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.68 |
| DDOG Datadog Inc. Class A | Sold out | 0.00% | −0.65 |
| MOS The Mosaic Co. | Sold out | 0.00% | −0.60 |
| AMD Advanced Micro Devices | Reduce -68.7% | 0.32% | −0.54 |
| MTN Vail Resorts Inc. | Reduce -72.7% | 0.17% | −0.45 |
| BF.B Brown-Forman Corp. Class B | Sold out | 0.00% | −0.36 |
| PTC PTC Inc. | Reduce -34.5% | 0.76% | −0.34 |
| FDX FedEx Corp. | Sold out | 0.00% | −0.32 |
| VOO Vanguard S&P 500 ETF | Reduce -29.9% | 0.94% | −0.31 |
| NET Cloudflare Inc. Class A | Reduce -41.2% | 0.61% | −0.31 |
| LIN Linde PLC | Reduce -14.8% | 4.46% | −0.30 |
| JNJ Johnson & Johnson | Reduce -29.0% | 0.68% | −0.30 |
| NEM Newmont Corp. | Sold out | 0.00% | −0.29 |
| ABNB Airbnb Inc. Class A | Reduce -39.0% | 0.72% | −0.28 |
| COIN Coinbase Global Inc. Class A | Reduce -59.4% | 0.42% | −0.27 |
| HDB HDFC Bank Ltd.-ADR | Reduce -55.3% | 0.15% | −0.27 |
| AAPL Apple Inc. | Reduce -6.4% | 1.08% | −0.25 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.24 |
| RDY Dr. Reddy's Laboratories-ADR | Sold out | 0.00% | −0.24 |
| WHR Whirlpool Corp. | Sold out | 0.00% | −0.17 |
| MRVL Marvell Technology Inc. | Reduce -41.5% | 0.35% | −0.17 |
| UBER Uber Technologies Inc. | Reduce -27.7% | 1.17% | −0.16 |
| MNSO Miniso Group Holding Ltd.-ADR | Sold out | 0.00% | −0.16 |
| YMM Full Truck Alliance -SPN ADR | Reduce -24.0% | 0.50% | −0.15 |
| MCHP Microchip Technology Inc. | Reduce -12.4% | 0.83% | −0.15 |
| KEYS Keysight Technologies Inc. | Sold out | 0.00% | −0.15 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.14 |
| CTVA Corteva Inc. | Reduce -69.6% | 0.07% | −0.12 |
| WBD Warner Bros Discovery Inc. | Reduce -4.6% | 0.29% | −0.12 |
| SPG Simon Property Group Inc. | Sold out | 0.00% | −0.11 |
| CF CF Industries Holdings Inc. | Reduce -61.6% | 0.06% | −0.09 |
| GILD Gilead Sciences Inc. | Reduce -7.7% | 0.36% | −0.08 |
| MTCH Match Group Inc. | Sold out | 0.00% | −0.08 |
| OMCL Omnicell Inc. | Reduce -1.7% | 0.21% | −0.07 |
| SCHW Schwab (charles) Corp. | Reduce -11.4% | 0.69% | −0.07 |
| CSCO Cisco Systems Inc. | Reduce -6.0% | 0.65% | −0.07 |
| EXPE Expedia Group Inc. | Reduce -1.0% | 0.48% | −0.07 |
| HRL Hormel Foods Corp. | Sold out | 0.00% | −0.06 |
| SYY Sysco Corp. | Reduce -40.0% | 0.10% | −0.06 |
| FTNT Fortinet Inc. | Reduce -40.4% | 0.11% | −0.05 |
| TEL Te Connectivity Ltd. | Reduce -7.3% | 0.64% | −0.05 |
| VWO Vanguard Ftse Emerging Marke | Reduce -25.1% | 0.12% | −0.04 |
| BKNG Booking Holdings Inc. | Reduce -3.9% | 0.85% | −0.04 |
| WDAY Workday Inc. Class A | Reduce -1.0% | 0.75% | −0.04 |
| ON On Semiconductor | Reduce -17.4% | 0.09% | −0.04 |
| ROK Rockwell Automation Inc. | Reduce -5.2% | 0.23% | −0.04 |
Portfolio Buys Q4 2023 → Q1 2024
| ONON On Holding AG Class A | New | 0.90% | +0.90 |
| META Meta Platforms Inc. Class A | Add +5.6% | 3.07% | +0.89 |
| ZGN Ermenegildo Zegna NV | New | 0.85% | +0.85 |
| UPS United Parcel Service Class B | New | 0.66% | +0.66 |
| ISRG Intuitive Surgical Inc. | Add +23.9% | 2.15% | +0.64 |
| OSW Onespaworld Holdings Ltd. | New | 0.52% | +0.52 |
| COST Costco Wholesale Corp. | Add +129.1% | 0.72% | +0.43 |
| CRM Salesforce Inc. | New | 0.40% | +0.40 |
| WIX Wix.com Ltd. | New | 0.36% | +0.36 |
| INTU Intuit Inc. | Add +127.6% | 0.63% | +0.36 |
| CDNS Cadence Design SYS Inc. | Add +83.7% | 0.52% | +0.27 |
| DIS The Walt Disney Co. | Add +0.7% | 1.08% | +0.27 |
| TME Tencent Music Entertainm-ADR | New | 0.21% | +0.21 |
| UNH Unitedhealth Group Inc. | Add +27.3% | 1.36% | +0.19 |
| ADI Analog Devices Inc. | Add +77.5% | 0.44% | +0.18 |
| TCOM Trip.com Group Ltd.-ADR | Add +27.5% | 0.54% | +0.18 |
| V Visa Inc. Class A | Add +6.9% | 1.75% | +0.18 |
| VIPS Vipshop Holdings Ltd. - ADR | New | 0.17% | +0.17 |
| MA Mastercard Inc. Class A | Add +3.4% | 1.39% | +0.17 |
| WIT Wipro Ltd.-ADR | New | 0.16% | +0.16 |
| IBN Icici Bank Ltd.-Spon ADR | New | 0.15% | +0.15 |
| XOM Exxon Mobil Corp. | Add +0.4% | 1.21% | +0.14 |
| MRK Merck & Co. Inc. | Add +0.5% | 0.93% | +0.14 |
| JPM JPMorgan Chase & Co. | Add +0.3% | 1.00% | +0.13 |
| IT Gartner Inc. | New | 0.13% | +0.13 |
| MSI Motorola Solutions Inc. | New | 0.11% | +0.11 |
| RNW Renew Energy Global PLC-A | New | 0.11% | +0.11 |
| ADBE Adobe Inc. | Add +32.0% | 1.34% | +0.11 |
| CLS Celestica Inc. | New | 0.08% | +0.08 |
| C Citigroup Inc. | Add +0.2% | 0.43% | +0.07 |
| COP Conocophillips | Add +0.5% | 0.97% | +0.07 |
| LRCX Lam Research Corp. | Add +0.0% | 0.36% | +0.06 |
| LYV Live Nation Entertainment Inc. | New | 0.05% | +0.05 |
| ELV Elevance Health Inc. | Add +0.4% | 0.58% | +0.04 |
| MKL Markel Group Inc. | Add +0.3% | 0.88% | +0.04 |
| HBAN Huntington Bancshares Inc. | Add +0.5% | 0.57% | +0.04 |
| APD Air Products & Chemicals Inc. | New | 0.04% | +0.04 |
| BWXT BWX Technologies Inc. | Add +0.4% | 0.14% | +0.03 |
| MO Altria Group Inc. | Add +0.1% | 0.66% | +0.03 |
| PXD Pioneer Natural Resources Co. | New | 0.03% | +0.03 |
| DOOR Masonite International Corp. | New | 0.03% | +0.03 |
| SWN Southwestern Energy Co. | New | 0.03% | +0.03 |
| EOG EOG Resources Inc. | Add +0.6% | 0.71% | +0.02 |
| RSG Republic Services Inc. | Add +0.3% | 0.18% | +0.02 |
| AJG Arthur J Gallagher & Co. | Add +0.3% | 0.27% | +0.02 |
| INHIBRX INC | New | 0.02% | +0.02 |
| AXONICS INC | New | 0.02% | +0.02 |
| DFS Discover Financial Services | New | 0.02% | +0.02 |
| CTLT Catalent Inc. | New | 0.02% | +0.02 |
| CNC Centene Corp. | Add +0.5% | 0.50% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 273 | $1.3B | NVDA, GOOGL, MSFT, AAPL, AMZN |
| Q1 2026 | 276 | $1.1B | NVDA, MSFT, GOOGL, AAPL, AMZN |
| Q4 2025 | 288 | $1.6B | MSFT, GOOGL, NVDA, AAPL, UBS |
| Q3 2025 | 284 | $1.6B | MSFT, NVDA, GOOGL, AAPL, META |
| Q2 2025 | 226 | $1.4B | MSFT, NVDA, GOOGL, META, AAPL |
| Q1 2025 | 176 | $1.3B | MSFT, NVDA, GOOGL, AAPL, AMZN |
| Q4 2024 | 169 | $1.3B | MSFT, GOOGL, NVDA, LIN, AMZN |
| Q3 2024 | 152 | $1.3B | LIN, MSFT, NVDA, GOOGL, META |
| Q2 2024 | 159 | $1.3B | MSFT, NVDA, GOOGL, LIN, META |
| Q1 2024 | 168 | $1.4B | MSFT, LIN, NVDA, GOOGL, META |