Generate Investment Management Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 20, 2025), Generate Investment Management Ltd reported 81 stock positions worth $2.0 billion. Its top holding was Nvidia (NVDA) at 6.6% of the portfolio, followed by Microsoft (MSFT, 6.5%) and Apple (AAPL, 4.8%). Compared with Q2 2025, it opened 12 new positions, sold out of 21, added to 41 and reduced 24. The biggest buy was Apple (AAPL, shares +101%) and the biggest sale Royal Caribbean Cruises (RCL, shares −73%).
- Most Recent 13F
- Q2 2026
- Location
- AUCKLAND, Q2
- CIK
- 0002025905
- Portfolio Value
- $2.0B (Q3 2025)
- SEC Filing
- 0002025905-25-000012 ↗ filed Oct 20, 2025
Holdings Value
Holdings 81 stocks · $2.0B
| NVDA Nvidia Corp. | 6.62% | 699,110 | $130.4M | Reduce -12.8% |
| MSFT Microsoft Corp. | 6.54% | 248,931 | $128.9M | Add +21.6% |
| AAPL Apple Inc. | 4.80% | 371,280 | $94.5M | Add +101.1% |
| AMZN Amazon.com Inc. | 4.76% | 426,804 | $93.7M | Add +6.7% |
| META Meta Platforms Inc. Class A | 4.61% | 123,787 | $90.9M | Add +29.0% |
| GOOGL Alphabet Inc. Class A | 4.18% | 338,750 | $82.4M | Add +7.7% |
| LLY Eli Lilly & Co. | 3.17% | 81,813 | $62.4M | Add +23.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.63% | 103,172 | $51.9M | Add +44.4% |
| UNH Unitedhealth Group Inc. | 2.50% | 142,486 | $49.2M | Add +5.5% |
| ELV Elevance Health Inc. | 2.21% | 135,000 | $43.6M | Add +37.7% |
| TSM Taiwan Semiconductor-SP ADR | 2.11% | 148,665 | $41.5M | Reduce -47.6% |
| FISV Fiserv Inc. | 2.09% | 320,000 | $41.3M | Add +86.2% |
| AVGO Broadcom Inc. | 2.06% | 123,182 | $40.6M | Add +175.5% |
| BSX Boston Scientific Corp. | 1.96% | 395,081 | $38.6M | Add +190.9% |
| AGI Alamos Gold Inc. Class A | 1.86% | 1,050,000 | $36.6M | Add +191.3% |
| NFLX Netflix Inc. | 1.80% | 29,527 | $35.4M | Add +0.1% |
| UAL United Airlines Holdings Inc. | 1.74% | 355,132 | $34.3M | Reduce -14.1% |
| NEM Newmont Corp. | 1.62% | 378,975 | $32.0M | No change |
| HD Home Depot Inc. | 1.58% | 77,050 | $31.2M | Reduce -6.4% |
| INTU Intuit Inc. | 1.52% | 43,777 | $29.9M | New |
| CRH CRH PLC | 1.48% | 242,516 | $29.1M | Reduce -50.3% |
| CART Maplebear Inc. | 1.40% | 750,000 | $27.6M | Add +134.4% |
| V Visa Inc. Class A | 1.37% | 78,872 | $26.9M | Add +176.5% |
| ICE Intercontinental Exchange Inc. | 1.30% | 151,577 | $25.5M | Add +17.8% |
| JPM JPMorgan Chase & Co. | 1.22% | 76,500 | $24.1M | Reduce -8.9% |
| LRCX Lam Research Corp. | 1.18% | 172,994 | $23.2M | Reduce -62.2% |
| GS Goldman Sachs Group Inc. | 1.17% | 29,056 | $23.1M | Add +41.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.14% | 437,055 | $22.5M | Reduce -13.6% |
| EQT Eqt Corp. | 1.10% | 400,000 | $21.8M | Reduce -0.3% |
| CPAY Corpay Inc. | 1.10% | 75,000 | $21.6M | Add +49.3% |
| ABBV Abbvie Inc. | 1.02% | 86,669 | $20.1M | Add +91.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.98% | 68,696 | $19.4M | Add +20.8% |
| WM Waste Management Inc. | 0.96% | 85,783 | $18.9M | Add +303.9% |
| WTW Willis Towers Watson PLC | 0.90% | 51,456 | $17.8M | Add +61.5% |
| APH Amphenol Corp. Class A | 0.84% | 134,240 | $16.6M | Reduce -38.4% |
| KLAC KLA Corp. | 0.80% | 14,590 | $15.7M | New |
| MCK McKesson Corp. | 0.79% | 20,267 | $15.7M | Add +138.4% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.79% | 50,000 | $15.5M | Add +184.1% |
| DAL Delta Air Lines Inc. | 0.75% | 260,000 | $14.8M | Reduce -53.6% |
| NET Cloudflare Inc. Class A | 0.69% | 63,777 | $13.7M | Add +152.2% |
| KIM Kimco Realty Corp. | 0.69% | 619,023 | $13.5M | Add +58.3% |
| KO The Coca-Cola Co. | 0.66% | 194,731 | $12.9M | Add +75.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.65% | 229,962 | $12.8M | Add +43.2% |
| WAL Western Alliance Bancorp | 0.62% | 140,000 | $12.1M | Reduce -56.2% |
| WCN Waste Connections Inc. | 0.60% | 66,774 | $11.7M | Add +55.0% |
| TKO Tko Group Holdings Inc. | 0.59% | 57,163 | $11.5M | New |
| MA Mastercard Inc. Class A | 0.58% | 20,000 | $11.4M | Add +23.6% |
| QCOM Qualcomm Inc. | 0.58% | 68,234 | $11.4M | New |
| MU Micron Technology Inc. | 0.57% | 67,212 | $11.3M | Reduce -16.0% |
| UBER Uber Technologies Inc. | 0.55% | 111,386 | $10.9M | Reduce -49.2% |
| RCL Royal Caribbean Cruises Ltd. | 0.55% | 33,214 | $10.7M | Reduce -73.5% |
| REGN Regeneron Pharmaceuticals | 0.54% | 18,778 | $10.6M | Add +56.5% |
| CCEP Coca-Cola Europacific Partne | 0.53% | 115,281 | $10.4M | No change |
| PEP Pepsico Inc. | 0.52% | 72,359 | $10.2M | New |
| VRTX Vertex Pharmaceuticals Inc. | 0.51% | 25,734 | $10.1M | New |
| NOW ServiceNow Inc. | 0.51% | 10,936 | $10.1M | Reduce -17.9% |
| ETN Eaton Corp. PLC | 0.50% | 26,472 | $9.9M | Reduce -53.6% |
| TSLA Tesla Inc. | 0.50% | 22,237 | $9.9M | Add +15.9% |
| FCNCA First Citizens Bcshs Class A | 0.50% | 5,500 | $9.8M | Add +63.5% |
| SPGI S&P Global Inc. | 0.49% | 20,000 | $9.7M | Add +138.2% |
| ORCL Oracle Corp. | 0.47% | 32,726 | $9.2M | Add +20.8% |
| RSG Republic Services Inc. | 0.45% | 39,068 | $9.0M | Add +29.1% |
| PINS Pinterest Inc. Class A | 0.45% | 277,035 | $8.9M | Reduce -63.7% |
| ENTG Entegris Inc. | 0.43% | 91,671 | $8.5M | Add +49.5% |
| AER Aercap Holdings NV | 0.43% | 70,000 | $8.5M | Reduce -10.3% |
| PLD Prologis Inc. | 0.43% | 73,648 | $8.4M | Reduce -40.3% |
| REG Regency Centers Corp. | 0.43% | 115,457 | $8.4M | Add +73.2% |
| SHW The Sherwin-Williams Co. | 0.41% | 23,389 | $8.1M | New |
| GFL GFL Environmental Inc.-Sub VT | 0.40% | 166,550 | $7.9M | New |
| ASML ASML Holding NV-NY Reg SHS | 0.39% | 8,000 | $7.7M | Add +33.3% |
| TMO Thermo Fisher Scientific Inc. | 0.38% | 15,403 | $7.5M | New |
| CTAS Cintas Corp. | 0.38% | 36,201 | $7.4M | New |
| WMT Walmart Inc. | 0.37% | 70,000 | $7.2M | Reduce -62.8% |
| ISRG Intuitive Surgical Inc. | 0.28% | 12,500 | $5.6M | New |
| COR Cencora Inc. | 0.28% | 17,857 | $5.6M | No change |
| ANET Arista Networks Inc. | 0.27% | 37,119 | $5.4M | Reduce -60.4% |
| NXPI NXP Semiconductors NV | 0.27% | 23,706 | $5.4M | Reduce -40.7% |
| HCA HCA Healthcare Inc. | 0.27% | 12,500 | $5.3M | New |
| RACE Ferrari NV | 0.25% | 10,157 | $4.9M | No change |
| CRM Salesforce Inc. | 0.24% | 20,000 | $4.7M | Add +10.0% |
| CSGP Costar Group Inc. | 0.16% | 37,573 | $3.2M | Reduce -52.1% |
Portfolio Sells Q2 2025 → Q3 2025
| RCL Royal Caribbean Cruises Ltd. | Reduce -73.5% | 0.55% | −1.63 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -47.6% | 2.11% | −1.46 |
| LRCX Lam Research Corp. | Reduce -62.2% | 1.18% | −1.29 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −1.11 |
| PINS Pinterest Inc. Class A | Reduce -63.7% | 0.45% | −1.07 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −1.01 |
| CRH CRH PLC | Reduce -50.3% | 1.48% | −1.01 |
| AMT American Tower Corp. | Sold out | 0.00% | −0.94 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.91 |
| GDDY GoDaddy Inc. Class A | Sold out | 0.00% | −0.89 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.87 |
| DAL Delta Air Lines Inc. | Reduce -53.6% | 0.75% | −0.78 |
| WAL Western Alliance Bancorp | Reduce -56.2% | 0.62% | −0.77 |
| HOOD Robinhood Markets Inc. Class A | Sold out | 0.00% | −0.73 |
| WMT Walmart Inc. | Reduce -62.8% | 0.37% | −0.66 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −0.63 |
| ETN Eaton Corp. PLC | Reduce -53.6% | 0.50% | −0.63 |
| UBER Uber Technologies Inc. | Reduce -49.2% | 0.55% | −0.58 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.55 |
| BLK BlackRock Inc. | Sold out | 0.00% | −0.49 |
| WCC Wesco International Inc. | Sold out | 0.00% | −0.49 |
| DASH DoorDash Inc. Class A | Sold out | 0.00% | −0.46 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.43 |
| NVDA Nvidia Corp. | Reduce -12.8% | 6.62% | −0.41 |
| AEM Agnico Eagle Mines Ltd. | Sold out | 0.00% | −0.40 |
| APH Amphenol Corp. Class A | Reduce -38.4% | 0.84% | −0.35 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.30 |
| PLD Prologis Inc. | Reduce -40.3% | 0.43% | −0.29 |
| XYZ Block Inc. | Sold out | 0.00% | −0.28 |
| SNPS Synopsys Inc. | Sold out | 0.00% | −0.28 |
| CHWY Chewy Inc. Class A | Sold out | 0.00% | −0.27 |
| AXP American Express Co. | Sold out | 0.00% | −0.27 |
| ANET Arista Networks Inc. | Reduce -60.4% | 0.27% | −0.26 |
| MCO Moody's Corp. | Sold out | 0.00% | −0.25 |
| NOW ServiceNow Inc. | Reduce -17.9% | 0.51% | −0.25 |
| NXPI NXP Semiconductors NV | Reduce -40.7% | 0.27% | −0.21 |
| EQT Eqt Corp. | Reduce -0.3% | 1.10% | −0.19 |
| CSGP Costar Group Inc. | Reduce -52.1% | 0.16% | −0.19 |
| BAC Bank of America Corp. | Reduce -13.6% | 1.14% | −0.18 |
| WSC Willscot Holdings Corp. | Sold out | 0.00% | −0.16 |
| JPM JPMorgan Chase & Co. | Reduce -8.9% | 1.22% | −0.13 |
| HD Home Depot Inc. | Reduce -6.4% | 1.58% | −0.09 |
| UAL United Airlines Holdings Inc. | Reduce -14.1% | 1.74% | −0.09 |
| AER Aercap Holdings NV | Reduce -10.3% | 0.43% | −0.08 |
| MU Micron Technology Inc. | Reduce -16.0% | 0.57% | +0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +101.1% | 4.80% | +2.70 |
| INTU Intuit Inc. | New | 1.52% | +1.52 |
| AVGO Broadcom Inc. | Add +175.5% | 2.06% | +1.38 |
| AGI Alamos Gold Inc. Class A | Add +191.3% | 1.86% | +1.33 |
| BSX Boston Scientific Corp. | Add +190.9% | 1.96% | +1.15 |
| GOOGL Alphabet Inc. Class A | Add +7.7% | 4.18% | +1.10 |
| MSFT Microsoft Corp. | Add +21.6% | 6.54% | +0.89 |
| V Visa Inc. Class A | Add +176.5% | 1.37% | +0.80 |
| KLAC KLA Corp. | New | 0.80% | +0.80 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +44.4% | 2.63% | +0.71 |
| WM Waste Management Inc. | Add +303.9% | 0.96% | +0.69 |
| META Meta Platforms Inc. Class A | Add +29.0% | 4.61% | +0.68 |
| CART Maplebear Inc. | Add +134.4% | 1.40% | +0.60 |
| TKO Tko Group Holdings Inc. | New | 0.59% | +0.59 |
| QCOM Qualcomm Inc. | New | 0.58% | +0.58 |
| ABBV Abbvie Inc. | Add +91.8% | 1.02% | +0.55 |
| PEP Pepsico Inc. | New | 0.52% | +0.52 |
| VRTX Vertex Pharmaceuticals Inc. | New | 0.51% | +0.51 |
| AJG Arthur J Gallagher & Co. | Add +184.1% | 0.79% | +0.47 |
| FISV Fiserv Inc. | Add +86.2% | 2.09% | +0.45 |
| MCK McKesson Corp. | Add +138.4% | 0.79% | +0.45 |
| NET Cloudflare Inc. Class A | Add +152.2% | 0.69% | +0.42 |
| SHW The Sherwin-Williams Co. | New | 0.41% | +0.41 |
| GFL GFL Environmental Inc.-Sub VT | New | 0.40% | +0.40 |
| TMO Thermo Fisher Scientific Inc. | New | 0.38% | +0.38 |
| CTAS Cintas Corp. | New | 0.38% | +0.38 |
| GS Goldman Sachs Group Inc. | Add +41.2% | 1.17% | +0.37 |
| WTW Willis Towers Watson PLC | Add +61.5% | 0.90% | +0.36 |
| LLY Eli Lilly & Co. | Add +23.1% | 3.17% | +0.29 |
| ISRG Intuitive Surgical Inc. | New | 0.28% | +0.28 |
| HCA HCA Healthcare Inc. | New | 0.27% | +0.27 |
| SPGI S&P Global Inc. | Add +138.2% | 0.49% | +0.25 |
| KIM Kimco Realty Corp. | Add +58.3% | 0.69% | +0.23 |
| KO The Coca-Cola Co. | Add +75.1% | 0.66% | +0.22 |
| REGN Regeneron Pharmaceuticals | Add +56.5% | 0.54% | +0.19 |
| CPAY Corpay Inc. | Add +49.3% | 1.10% | +0.17 |
| REG Regency Centers Corp. | Add +73.2% | 0.43% | +0.16 |
| TSLA Tesla Inc. | Add +15.9% | 0.50% | +0.16 |
| UNH Unitedhealth Group Inc. | Add +5.5% | 2.50% | +0.16 |
| ENTG Entegris Inc. | Add +49.5% | 0.43% | +0.16 |
| WCN Waste Connections Inc. | Add +55.0% | 0.60% | +0.15 |
| ORCL Oracle Corp. | Add +20.8% | 0.47% | +0.14 |
| FCNCA First Citizens Bcshs Class A | Add +63.5% | 0.50% | +0.13 |
| ASML ASML Holding NV-NY Reg SHS | Add +33.3% | 0.39% | +0.13 |
| ELV Elevance Health Inc. | Add +37.7% | 2.21% | +0.10 |
| MA Mastercard Inc. Class A | Add +23.6% | 0.58% | +0.07 |
| IBM Intl Business Machines Corp. | Add +20.8% | 0.98% | +0.05 |
| RSG Republic Services Inc. | Add +29.1% | 0.45% | +0.04 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +43.2% | 0.65% | +0.03 |
| ICE Intercontinental Exchange Inc. | Add +17.8% | 1.30% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 90 | $2.4B | NVDA, AMZN, MSFT, GOOGL, AAPL |
| Q1 2026 | 70 | $2.0B | NVDA, MSFT, AMZN, META, GOOGL |
| Q4 2025 | 76 | $2.2B | NVDA, AMZN, MSFT, GOOGL, META |
| Q3 2025 | 81 | $2.0B | NVDA, MSFT, AAPL, AMZN, META |
| Q2 2025 | 90 | $1.8B | NVDA, MSFT, AMZN, META, TSM |
| Q1 2025 | 77 | $1.4B | AMZN, NVDA, META, MSFT, TSM |
| Q4 2024 | 75 | $1.4B | NVDA, MSFT, AMZN, META, AAPL |
| Q3 2024 | 72 | $1.5B | NVDA, MSFT, AMZN, META, AAPL |
| Q2 2024 | 74 | $1.4B | AMZN, MSFT, NVDA, GOOGL, AAPL |
| Q1 2024 | 74 | $1.3B | MSFT, AMZN, GOOGL, BRK.B, NVDA |