Generali Investments CEE, investicni spolecnost, a.s.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 18, 2025), Generali Investments CEE, investicni spolecnost, a.s. reported 383 stock positions worth $1.2 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 3.9% of the portfolio, followed by Invesco S&P 500 Equal Weight (RSP, 2.9%) and Erste Group Bank (EBKOF, 2.1%). Compared with Q1 2025, it opened 7 new positions, sold out of 7, added to 102 and reduced 37. The biggest buy was Nvidia (NVDA, shares +22%) and the biggest sale Invesco S&P 500 Equal Weight (RSP, shares −11%).

Most Recent 13F
Q2 2026
Location
PRAGUE, 2N
CIK
0002047540
Portfolio Value
$1.2B (Q2 2025)
SEC Filing
0002047540-25-000006 ↗ filed Jul 18, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q4 2024: $970.1M Q4 2024 Q1 2025: $1.1B Q1 2025 Q2 2025: $1.2B $1.2B Q2 2025 Q3 2025: $1.3B Q3 2025 Q4 2025: $1.4B Q4 2025 Q1 2026: $1.9B Q1 2026 Q2 2026: $2.1B Q2 2026

Holdings 383 stocks · $1.2B
SPY SS SPDR S&P 500 ETF Trust-US 3.90% 76,800 $47.5M No change
RSP Invesco S&P 500 Equal Weight 2.90% 193,976 $35.3M Reduce -11.0%
EBKOF Erste Group Bank AG 2.07% 294,924 $25.1M Reduce -7.5%
NVDA Nvidia Corp. 2.01% 154,896 $24.5M Add +22.2%
QQQ Invesco QQQ Trust Series 1 1.72% 37,969 $20.9M Add +57.0%
MSFT Microsoft Corp. 1.71% 41,787 $20.8M Reduce -2.0%
OMVJF Omv AG 1.58% 353,192 $19.2M Reduce -0.5%
AMZN Amazon.com Inc. 1.52% 84,116 $18.5M Add +5.3%
IVV iShares Core S&P 500 ETF 1.38% 27,000 $16.8M No change
INPOF Inpost SA 1.31% 959,697 $15.9M Add +9.2%
IBB iShares Biotechnology ETF 1.21% 116,115 $14.7M Add +35.0%
AMD Advanced Micro Devices 1.20% 102,706 $14.6M Add +13.7%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 1.18% 168,414 $14.3M Add +23.7%
JPM JPMorgan Chase & Co. 1.17% 49,148 $14.2M Add +1.3%
AAPL Apple Inc. 1.16% 68,873 $14.1M Add +2.0%
VNNVF Vonovia SE 1.15% 397,526 $14.0M Add +12.9%
AVGO Broadcom Inc. 1.03% 45,604 $12.6M Reduce -0.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.95% 93,582 $11.6M Add +8.5%
SMAWF Siemens AG-Reg 0.94% 44,611 $11.5M Add +5.6%
V Visa Inc. Class A 0.93% 31,859 $11.3M Add +5.8%
ALLEGRO EU SA 0.92% 1,169,300 $11.2M Reduce -19.7%
SAPGF Sap SE 0.90% 36,140 $11.0M Add +0.3%
GOOGL Alphabet Inc. Class A 0.85% 58,813 $10.4M Reduce -1.0%
AXP American Express Co. 0.84% 32,066 $10.2M Add +3.7%
SSNHZ Samsung Electr-GDR Reg S 0.84% 9,258 $10.2M Add +11.5%
NATKY Nac Kazatomprom JSC-GDR Regs 0.84% 235,200 $10.2M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.83% 34,143 $10.1M Add +4.8%
MA Mastercard Inc. Class A 0.77% 16,703 $9.4M Reduce -2.3%
META Meta Platforms Inc. Class A 0.75% 12,364 $9.1M Add +2.9%
GOOG Alphabet Inc. Class C 0.70% 48,295 $8.6M Add +8.6%
IEMG iShares Core MSCI Emerging 0.68% 137,900 $8.3M No change
VWO Vanguard Ftse Emerging Marke 0.67% 165,500 $8.2M No change
TSM Taiwan Semiconductor-SP ADR 0.67% 35,991 $8.2M Add +4.5%
LLY Eli Lilly & Co. 0.67% 10,448 $8.1M No change
ICLN iShares Global Clean Energy 0.67% 619,000 $8.1M No change
TTE Totalenergies SE 0.63% 125,177 $7.7M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.63% 161,960 $7.7M Add +58.9%
HDB HDFC Bank Ltd.-ADR 0.63% 99,200 $7.6M No change
NFLX Netflix Inc. 0.62% 5,660 $7.6M Add +2.0%
HALYK BANK-GDR REG S filed as Halyk Savings Bank of Kazakhstan JSC 0.62% 304,839 $7.5M Add +34.3%
CSCO Cisco Systems Inc. 0.61% 106,539 $7.4M Add +19.8%
ABBV Abbvie Inc. 0.59% 38,514 $7.1M Add +1.7%
BRK.B Berkshire Hathaway Inc. Class B 0.59% 14,687 $7.1M Add +19.0%
RWNFF Rwe AG 0.58% 168,658 $7.1M Add +1.8%
PEP Pepsico Inc. 0.58% 53,003 $7.0M Add +16.2%
ENAKF E.on SE 0.55% 363,962 $6.7M No change
MELI MercadoLibre Inc. 0.54% 2,520 $6.6M Add +13.5%
GILD Gilead Sciences Inc. 0.53% 58,504 $6.5M Reduce -20.4%
ORCL Oracle Corp. 0.53% 29,500 $6.4M No change
CAT Caterpillar Inc. 0.52% 16,300 $6.3M No change
EADSF Airbus SE 0.51% 29,722 $6.2M Add +33.4%
RNMBF Rheinmetall AG 0.51% 2,936 $6.2M Reduce -0.5%
IBDSF Iberdrola SA 0.50% 318,908 $6.1M Reduce -6.5%
IDEXF Industria DE Diseno Textil filed as INDITEX 0.50% 117,320 $6.1M Reduce -5.6%
HUUUGE INC 0.50% 1,205,117 $6.1M No change
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.50% 99,500 $6.0M Add +25.0%
MCD McDonald's Corp. 0.49% 20,587 $6.0M Add +6.5%
UBER Uber Technologies Inc. 0.49% 63,869 $6.0M Add +13.7%
THLEF Thales SA 0.49% 20,263 $6.0M Reduce -26.4%
TM Toyota Motor Corp. -Spon ADR 0.47% 33,162 $5.7M Add +0.5%
TSLA Tesla Inc. 0.47% 17,805 $5.7M Add +7.7%
PM Philip Morris International 0.45% 30,008 $5.5M Add +0.7%
FDX FedEx Corp. 0.45% 23,900 $5.4M Add +30.6%
SPOT Spotify Technology SA 0.44% 7,009 $5.4M Add +7.0%
GS Goldman Sachs Group Inc. 0.43% 7,461 $5.3M Add +2.4%
XOM Exxon Mobil Corp. 0.43% 48,700 $5.2M Reduce -25.2%
PG The Procter & Gamble Co. 0.43% 32,951 $5.2M Reduce -1.2%
INFY Infosys Ltd.-SP ADR 0.42% 278,100 $5.2M Add +3.3%
PYPL PayPal Holdings Inc. 0.41% 67,290 $5.0M Add +4.7%
GEN Gen Digital Inc. 0.41% 170,049 $5.0M Add +15.6%
GE General Electric filed as GE AEROSPACE 0.41% 19,204 $4.9M Reduce -6.7%
GFI Gold Fields Ltd.-Spons ADR 0.40% 208,000 $4.9M No change
HPE Hewlett Packard Enterprise 0.40% 240,000 $4.9M No change
TCEHY Tencent Holdings Ltd.-Uns ADR 0.40% 75,787 $4.9M No change
VZ Verizon Communications Inc. 0.40% 112,662 $4.9M No change
BIIB Biogen Inc. 0.40% 38,755 $4.9M Add +43.2%
WELL Welltower Inc. 0.40% 31,600 $4.9M No change
INGVF ING Groep NV 0.39% 218,228 $4.8M No change
EBAY eBay Inc. 0.39% 64,050 $4.8M Reduce -16.7%
TXN Texas Instruments Inc. 0.39% 22,906 $4.8M No change
VRTX Vertex Pharmaceuticals Inc. 0.38% 10,491 $4.7M Reduce -4.9%
HD Home Depot Inc. 0.38% 12,735 $4.7M No change
WMT Walmart Inc. 0.38% 47,608 $4.7M Reduce -5.5%
KO The Coca-Cola Co. 0.38% 64,628 $4.6M Add +3.2%
COST Costco Wholesale Corp. 0.38% 4,616 $4.6M Add +9.5%
F Ford Motor Co. filed as FORD MTR CO 0.37% 420,000 $4.6M Add +40.0%
TEFOF Telefonica SA 0.37% 849,872 $4.5M Add +31.5%
OEZVF Verbund AG 0.37% 58,004 $4.5M No change
QCOM Qualcomm Inc. 0.36% 27,383 $4.4M No change
CRM Salesforce Inc. 0.36% 15,925 $4.3M Add +5.4%
HESAF Hermes International 0.36% 1,601 $4.3M Add +6.7%
KHC The Kraft Heinz Co. 0.36% 167,773 $4.3M Add +10.1%
NTDOY Nintendo Co. Ltd.-Unspons ADR 0.36% 180,000 $4.3M No change
INTU Intuit Inc. 0.36% 5,484 $4.3M No change
GRPN Groupon Inc. 0.35% 128,021 $4.3M Reduce -35.4%
RACE Ferrari NV 0.35% 8,565 $4.2M Add +6.2%
CVX Chevron Corp. 0.34% 28,750 $4.1M Reduce -18.5%
UNH Unitedhealth Group Inc. 0.33% 12,860 $4.0M Reduce -0.1%
MS Morgan Stanley 0.33% 28,400 $4.0M No change
ESOCF Enel SPA 0.33% 420,023 $4.0M Reduce -0.5%

Show all 383 holdings

Portfolio Sells Q1 2025 → Q2 2025
RSP Invesco S&P 500 Equal Weight Reduce -11.0% 2.90% −0.62
CMG Chipotle Mexican Grill Inc. Sold out 0.00% −0.30
UNH Unitedhealth Group Inc. Reduce -0.1% 0.33% −0.30
XOM Exxon Mobil Corp. Reduce -25.2% 0.43% −0.29
GILD Gilead Sciences Inc. Reduce -20.4% 0.53% −0.23
CVX Chevron Corp. Reduce -18.5% 0.34% −0.21
THLEF Thales SA Reduce -26.4% 0.49% −0.19
ALLEGRO EU SA Reduce -19.7% 0.92% −0.17
PDD PDD Holdings Inc. Reduce -93.6% 0.01% −0.15
AMGN Amgen Inc. Reduce -15.9% 0.27% −0.14
JD Jd.com Inc.-ADR Reduce -33.2% 0.12% −0.13
OMVJF Omv AG Reduce -0.5% 1.58% −0.12
BABA Alibaba Group Holding-SP ADR Reduce -23.4% 0.16% −0.12
VRTX Vertex Pharmaceuticals Inc. Reduce -4.9% 0.38% −0.11
MA Mastercard Inc. Class A Reduce -2.3% 0.77% −0.10
PG The Procter & Gamble Co. Reduce -1.2% 0.43% −0.10
FDLPF Fondul Proprietatea SA Sold out 0.00% −0.10
EBAY eBay Inc. Reduce -16.7% 0.39% −0.09
SONY Sony Group Corp. - SP ADR Reduce -12.1% 0.31% −0.08
HTGC Hercules Capital Inc. Sold out 0.00% −0.08
SNYNF Sanofi Reduce -2.2% 0.24% −0.08
IDEXF Industria DE Diseno Textil Reduce -5.6% 0.50% −0.07
COP Conocophillips Reduce -2.4% 0.18% −0.07
NOVA LJUBLJANSKA B-GDR REG S Reduce -27.0% 0.19% −0.06
DHR Danaher Corp. Sold out 0.00% −0.04
BTGOF BT Group PLC Sold out 0.00% −0.04
NVSEF Novartis AG-Reg Reduce -11.8% 0.19% −0.03
WMT Walmart Inc. Reduce -5.5% 0.38% −0.03
PPRUF Kering Reduce -1.1% 0.30% −0.03
EEM iShares MSCI Emerging Market Sold out 0.00% −0.02
ABLZF Abb Ltd.-Reg Reduce -15.6% 0.07% −0.01
IBDSF Iberdrola SA Reduce -6.5% 0.50% −0.01
RLXXF Relx PLC Reduce -4.4% 0.08% −0.01
OGC Oceanagold Corp. Sold out 0.00% −0.01
SBGSF Schneider Electric SE Reduce -4.6% 0.31% −0.01
GOOGL Alphabet Inc. Class A Reduce -1.0% 0.85% −0.00
UNCFF Unicredit SPA Reduce -9.1% 0.08% −0.00
GRPN Groupon Inc. Reduce -35.4% 0.35% +0.01
ESOCF Enel SPA Reduce -0.5% 0.33% +0.01
EBKOF Erste Group Bank AG Reduce -7.5% 2.07% +0.02
GE General Electric Reduce -6.7% 0.41% +0.02
RNMBF Rheinmetall AG Reduce -0.5% 0.51% +0.11
MSFT Microsoft Corp. Reduce -2.0% 1.71% +0.22
AVGO Broadcom Inc. Reduce -0.4% 1.03% +0.32

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. Add +22.2% 2.01% +0.73
QQQ Invesco QQQ Trust Series 1 Add +57.0% 1.72% +0.66
AMD Advanced Micro Devices Add +13.7% 1.20% +0.33
VNNVF Vonovia SE Add +12.9% 1.15% +0.27
BAC Bank of America Corp. Add +58.9% 0.63% +0.23
IBB iShares Biotechnology ETF Add +35.0% 1.21% +0.18
DIS The Walt Disney Co. Add +8.5% 0.95% +0.16
EADSF Airbus SE Add +33.4% 0.51% +0.14
NFLX Netflix Inc. Add +2.0% 0.62% +0.14
MELI MercadoLibre Inc. Add +13.5% 0.54% +0.14
TSM Taiwan Semiconductor-SP ADR Add +4.5% 0.67% +0.14
SRPT Sarepta Therapeutics Inc. Add +5166.3% 0.15% +0.14
DELL Dell Technologies -C Add +36.4% 0.30% +0.12
INPOF Inpost SA Add +9.2% 1.31% +0.11
MAIN Main Street Capital Corp. New 0.11% +0.11
UBER Uber Technologies Inc. Add +13.7% 0.49% +0.11
SPOT Spotify Technology SA Add +7.0% 0.44% +0.11
META Meta Platforms Inc. Class A Add +2.9% 0.75% +0.10
AMZN Amazon.com Inc. Add +5.3% 1.52% +0.10
CSCO Cisco Systems Inc. Add +19.8% 0.61% +0.10
F Ford Motor Co. Add +40.0% 0.37% +0.09
HALYK BANK-GDR REG S Add +34.3% 0.62% +0.09
SSNHZ Samsung Electr-GDR Reg S Add +11.5% 0.84% +0.08
TEFOF Telefonica SA Add +31.5% 0.37% +0.08
INTC Intel Corp. Add +61.1% 0.27% +0.08
IBM Intl Business Machines Corp. Add +4.8% 0.83% +0.07
HSBC HSBC Holdings PLC-Spons ADR Add +25.0% 0.50% +0.07
TD Toronto-Dominion Bank Add +17.8% 0.32% +0.07
HIVE Hive Digital Technologies LT Add +45.4% 0.18% +0.07
TSLA Tesla Inc. Add +7.7% 0.47% +0.07
AXP American Express Co. Add +3.7% 0.84% +0.07
GS Goldman Sachs Group Inc. Add +2.4% 0.43% +0.06
JPM JPMorgan Chase & Co. Add +1.3% 1.17% +0.06
RYCEF Rolls-Royce Holdings PLC Add +133.2% 0.09% +0.06
GOOG Alphabet Inc. Class C Add +8.6% 0.70% +0.06
SPGI S&P Global Inc. New 0.06% +0.06
ZABKA GROUP SA Add +441.3% 0.07% +0.06
TERRF Terna-Rete Elettrica Naziona Add +87.0% 0.12% +0.06
BIIB Biogen Inc. Add +43.2% 0.40% +0.06
VEOEF Veolia Environnement Add +178.4% 0.08% +0.05
FINMF Leonardo SPA New 0.05% +0.05
RTX RTX Corp. Add +142.7% 0.08% +0.05
GEN Gen Digital Inc. Add +15.6% 0.41% +0.05
ELCPF Edp SA Add +17.4% 0.17% +0.04
RY Royal Bank of Canada Add +12.0% 0.30% +0.04
RSG Republic Services Inc. Add +57.9% 0.13% +0.04
SMAWF Siemens AG-Reg Add +5.6% 0.94% +0.04
VOD Vodafone Group PLC-SP ADR Add +445.3% 0.05% +0.04
NTOIF Neste Oyj Add +3.5% 0.13% +0.03
FDX FedEx Corp. Add +30.6% 0.45% +0.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 460$2.1BGMYYF, SPY, PSZKF, OTPBF, RSP
Q1 2026 450$1.9BGMYYF, SPY, PSZKF, RSP, OTPBF
Q4 2025 396$1.4BSPY, RSP, EBKOF, QQQ, OMVJF
Q3 2025 383$1.3BSPY, RSP, NVDA, EBKOF, QQQ
Q2 2025 383$1.2BSPY, RSP, EBKOF, NVDA, QQQ
Q1 2025 383$1.1BSPY, RSP, EBKOF, OMVJF, MSFT
Q4 2024 353$970.1MSPY, RSP, EBKOF, MSFT, IVV