Kepler Cheuvreux (Suisse) SA

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 4, 2026), Kepler Cheuvreux (Suisse) SA reported 148 stock positions worth $1.8 billion. Its top holding was Microsoft (MSFT) at 3.8% of the portfolio, followed by Cisco Systems (CSCO, 3.5%) and Nvidia (NVDA, 3.4%). Compared with Q3 2025, it opened 32 new positions, sold out of 25, added to 47 and reduced 64. The biggest buy was Nvidia (NVDA, shares +130%) and the biggest sale Costco Wholesale (COST, shares −95%).

Most Recent 13F
Q2 2026
Location
NYON, V8
CIK
0002096459
Portfolio Value
$1.8B (Q4 2025)
SEC Filing
0002096459-26-000002 ↗ filed Feb 4, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q3 2025: $1.9B Q3 2025 Q4 2025: $1.8B $1.8B Q4 2025 Q1 2026: $1.5B Q1 2026 Q2 2026: $1.7B Q2 2026

Holdings 148 stocks · $1.8B
MSFT Microsoft Corp. 3.78% 138,537 $67.0M Reduce -3.8%
CSCO Cisco Systems Inc. 3.49% 803,385 $61.9M Reduce -13.7%
NVDA Nvidia Corp. 3.38% 321,133 $59.9M Add +130.1%
V Visa Inc. Class A 2.96% 149,318 $52.4M Add +2.6%
MA Mastercard Inc. Class A 2.89% 89,602 $51.2M Add +0.1%
GOOGL Alphabet Inc. Class A 2.74% 155,170 $48.6M Add +48.1%
AAPL Apple Inc. 2.65% 172,949 $47.0M Add +76.5%
CAH Cardinal Health Inc. 2.64% 227,575 $46.8M Reduce -1.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 2.51% 289,963 $44.5M Add +120.1%
META Meta Platforms Inc. Class A 2.39% 64,109 $42.3M Reduce -21.0%
RY Royal Bank of Canada 2.35% 178,048 $41.7M Reduce -20.8%
BKNG Booking Holdings Inc. 2.23% 7,365 $39.4M Add +1.2%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 2.02% 287,239 $35.8M Add +105.3%
KO The Coca-Cola Co. 2.01% 508,926 $35.6M Add +24.5%
ADP Automatic Data Processing 1.93% 132,597 $34.1M Reduce -3.1%
FOXA Fox Corp. Class A 1.88% 455,308 $33.3M Add +35.0%
TT Trane Technologies PLC 1.85% 84,110 $32.8M Reduce -12.5%
ABBV Abbvie Inc. 1.77% 137,214 $31.4M Add +321.4%
AVGO Broadcom Inc. 1.69% 86,568 $30.0M Add +61.9%
LRCX Lam Research Corp. 1.61% 166,752 $28.5M Add +1353.0%
RSG Republic Services Inc. 1.58% 132,157 $28.0M Reduce -21.9%
CME Cme Group Inc. 1.42% 91,972 $25.1M Add +52.7%
LIN Linde PLC 1.41% 58,611 $25.0M Reduce -30.5%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 1.41% 246,523 $25.0M Add +85.7%
KLAC KLA Corp. 1.28% 18,719 $22.7M Add +521.1%
SPG Simon Property Group Inc. 1.24% 118,541 $21.9M Add +346.7%
MFC Manulife Financial Corp. 1.22% 434,204 $21.6M Reduce -19.1%
GOOG Alphabet Inc. Class C 1.19% 67,408 $21.2M Reduce -1.2%
CAT Caterpillar Inc. 1.17% 36,206 $20.7M New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.14% 68,082 $20.2M Add +93.8%
GE General Electric filed as GE AEROSPACE 1.12% 64,262 $19.8M Add +855.0%
JNJ Johnson & Johnson 1.11% 94,740 $19.6M Add +13.7%
INTU Intuit Inc. 1.09% 29,086 $19.3M Reduce -10.7%
BAP Credicorp Ltd. 1.02% 63,243 $18.2M Add +74.2%
HIG Hartford Insurance Group Inc. 1.01% 130,275 $18.0M Reduce -6.8%
MU Micron Technology Inc. 0.91% 56,760 $16.2M New
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.88% 134,663 $15.6M New
NTAP Netapp Inc. 0.84% 139,316 $14.9M Add +35.7%
ALLE Allegion PLC 0.84% 93,326 $14.9M Add +505.9%
CTSH Cognizant Tech Solutions-A 0.83% 177,856 $14.8M Reduce -5.8%
SLF Sun Life Financial Inc. 0.82% 170,360 $14.6M Reduce -62.9%
PFE Pfizer Inc. 0.81% 573,684 $14.3M Reduce -12.0%
APH Amphenol Corp. Class A 0.79% 103,498 $14.0M Reduce -70.5%
VRSN Verisign Inc. 0.77% 56,136 $13.6M New
AER Aercap Holdings NV 0.76% 93,295 $13.4M Add +4.6%
MDT Medtronic PLC 0.74% 136,926 $13.2M New
PEG Public Service Enterprise GP 0.73% 161,479 $13.0M Add +4.2%
TEL Te Connectivity PLC 0.71% 55,629 $12.7M Reduce -53.7%
FOX Fox Corp. Class B 0.69% 186,943 $12.1M Add +14.0%
PAYX Paychex Inc. 0.66% 103,674 $11.6M Add +2.8%
MRK Merck & Co. Inc. 0.65% 109,018 $11.5M Reduce -6.9%
FFIV F5 Inc. 0.62% 42,761 $10.9M Reduce -66.7%
WMT Walmart Inc. 0.61% 96,933 $10.8M Reduce -72.9%
SSNC Ss&c Technologies Holdings 0.60% 121,773 $10.6M Add +29.4%
ATO Atmos Energy Corp. 0.59% 62,677 $10.5M Reduce -41.7%
ADSK Autodesk Inc. 0.59% 35,495 $10.5M Reduce -39.3%
JPM JPMorgan Chase & Co. 0.58% 31,888 $10.3M Add +172.1%
GILD Gilead Sciences Inc. 0.57% 82,609 $10.1M New
GIB Cgi Inc. 0.56% 78,358 $9.9M Add +7.5%
COR Cencora Inc. 0.55% 28,924 $9.8M Reduce -64.4%
NXPI NXP Semiconductors NV 0.53% 42,879 $9.3M Add +91.0%
ENB Enbridge Inc. 0.52% 141,444 $9.3M Reduce -4.8%
QCOM Qualcomm Inc. 0.50% 52,175 $8.9M Add +9.9%
AMZN Amazon.com Inc. 0.49% 37,942 $8.8M Reduce -6.8%
WPC WP Carey Inc. 0.45% 124,784 $8.0M New
CMI Cummins Inc. 0.44% 15,416 $7.9M New
TMUS T-Mobile US Inc. 0.44% 38,092 $7.7M Reduce -32.7%
CCEP Coca-Cola Europacific Partne 0.42% 81,899 $7.4M No change
CDW CDW Corp. 0.41% 53,376 $7.3M Add +45.4%
ZM Zoom Communications Inc. 0.41% 83,599 $7.2M Reduce -62.9%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.34% 34,266 $6.1M New
TSLA Tesla Inc. 0.34% 13,211 $5.9M Reduce -15.1%
PINS Pinterest Inc. Class A 0.32% 221,256 $5.7M New
PG The Procter & Gamble Co. 0.31% 38,297 $5.5M Reduce -72.6%
MCO Moody's Corp. 0.30% 10,450 $5.3M Reduce -11.2%
SRE Sempra 0.29% 58,875 $5.2M No change
KDP Keurig Dr Pepper Inc. 0.25% 159,373 $4.5M No change
EXPE Expedia Group Inc. 0.25% 15,723 $4.5M Add +58.2%
AME Ametek Inc. 0.25% 21,695 $4.5M Reduce -33.5%
PH Parker Hannifin Corp. 0.21% 4,140 $3.6M Reduce -29.5%
PEP Pepsico Inc. 0.20% 25,294 $3.6M No change
AMP Ameriprise Financial Inc. 0.20% 7,397 $3.6M Add +1.5%
MET Metlife Inc. 0.20% 45,936 $3.6M Add +12.6%
TD Toronto-Dominion Bank 0.20% 27,626 $3.6M New
LH Labcorp Holdings Inc. 0.19% 13,507 $3.4M New
MCD McDonald's Corp. 0.19% 10,894 $3.3M Add +4.8%
EQH Equitable Holdings Inc. 0.19% 69,828 $3.3M Reduce -14.4%
MNST Monster Beverage Corp. 0.18% 42,242 $3.2M Reduce -51.5%
ORLY O'reilly Automotive Inc. 0.18% 35,012 $3.2M Reduce -55.7%
PDD PDD Holdings Inc. 0.18% 28,007 $3.2M Add +8.0%
ITW Illinois Tool Works 0.18% 12,846 $3.2M Reduce -75.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.18% 56,678 $3.1M New
LLY Eli Lilly & Co. 0.17% 2,806 $3.0M Reduce -30.9%
BR Broadridge Financial Solutio 0.17% 13,324 $3.0M Reduce -7.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.16% 24,521 $2.8M No change
ABT Abbott Laboratories 0.15% 21,810 $2.7M New
CTAS Cintas Corp. 0.15% 14,448 $2.7M Reduce -5.5%
ALL Allstate Corp. 0.15% 12,917 $2.7M Add +54.9%
AXP American Express Co. 0.15% 7,004 $2.6M New
NDSN Nordson Corp. 0.14% 10,577 $2.5M Reduce -12.6%

Show all 148 holdings

Portfolio Sells Q3 2025 → Q4 2025
COST Costco Wholesale Corp. Reduce -95.0% 0.11% −2.12
MSI Motorola Solutions Inc. Reduce -92.9% 0.14% −2.04
FFIV F5 Inc. Reduce -66.7% 0.62% −1.62
APH Amphenol Corp. Class A Reduce -70.5% 0.79% −1.55
BSX Boston Scientific Corp. Sold out 0.00% −1.45
SYK Stryker Corp. Reduce -95.8% 0.06% −1.44
WMT Walmart Inc. Reduce -72.9% 0.61% −1.38
SLF Sun Life Financial Inc. Reduce -62.9% 0.82% −1.24
WM Waste Management Inc. Sold out 0.00% −1.18
VRSK Verisk Analytics Inc. Sold out 0.00% −1.02
EBAY eBay Inc. Reduce -93.0% 0.07% −0.88
PG The Procter & Gamble Co. Reduce -72.6% 0.31% −0.85
META Meta Platforms Inc. Class A Reduce -21.0% 2.39% −0.82
COR Cencora Inc. Reduce -64.4% 0.55% −0.81
LIN Linde PLC Reduce -30.5% 1.41% −0.74
TEL Te Connectivity PLC Reduce -53.7% 0.71% −0.70
FTS Fortis Inc. Sold out 0.00% −0.61
SNA Snap-on Inc. Sold out 0.00% −0.61
TRI Thomson Reuters Corp. Sold out 0.00% −0.60
ZM Zoom Communications Inc. Reduce -62.9% 0.41% −0.59
ITW Illinois Tool Works Reduce -75.5% 0.18% −0.56
FAST Fastenal Co. Reduce -94.5% 0.03% −0.53
RSG Republic Services Inc. Reduce -21.9% 1.58% −0.51
GWW WW Grainger Inc. Sold out 0.00% −0.45
ICE Intercontinental Exchange Inc. Sold out 0.00% −0.43
SPGI S&P Global Inc. Reduce -81.1% 0.11% −0.41
ADSK Autodesk Inc. Reduce -39.3% 0.59% −0.41
ATO Atmos Energy Corp. Reduce -41.7% 0.59% −0.39
ECL Ecolab Inc. Reduce -77.5% 0.11% −0.37
TT Trane Technologies PLC Reduce -12.5% 1.85% −0.33
GPC Genuine Parts Co. Sold out 0.00% −0.29
TMUS T-Mobile US Inc. Reduce -32.7% 0.44% −0.29
KMB Kimberly-Clark Corp. Sold out 0.00% −0.28
PCAR Paccar Inc. Sold out 0.00% −0.28
ORLY O'reilly Automotive Inc. Reduce -55.7% 0.18% −0.28
AMGN Amgen Inc. Sold out 0.00% −0.27
MCK McKesson Corp. Sold out 0.00% −0.26
ADP Automatic Data Processing Reduce -3.1% 1.93% −0.24
MSFT Microsoft Corp. Reduce -3.8% 3.78% −0.23
CHKP Check Point Software Tech Sold out 0.00% −0.19
LULU Lululemon Athletica Inc. Sold out 0.00% −0.18
MDLZ Mondelez International Inc. Class A Sold out 0.00% −0.14
MNST Monster Beverage Corp. Reduce -51.5% 0.18% −0.13
RY Royal Bank of Canada Reduce -20.8% 2.35% −0.12
NFLX Netflix Inc. Reduce -44.0% 0.10% −0.12
GGG Graco Inc. Sold out 0.00% −0.11
INTU Intuit Inc. Reduce -10.7% 1.09% −0.11
PFE Pfizer Inc. Reduce -12.0% 0.81% −0.09
ARES Ares Management Corp. Class A Reduce -41.1% 0.14% −0.08
AME Ametek Inc. Reduce -33.5% 0.25% −0.08

Portfolio Buys Q3 2025 → Q4 2025
NVDA Nvidia Corp. Add +130.1% 3.38% +1.98
LRCX Lam Research Corp. Add +1353.0% 1.61% +1.53
TJX TJX Companies Inc. Add +120.1% 2.51% +1.49
GOOGL Alphabet Inc. Class A Add +48.1% 2.74% +1.37
ABBV Abbvie Inc. Add +321.4% 1.77% +1.36
AAPL Apple Inc. Add +76.5% 2.65% +1.31
CM Can Imperial BK of Commerce Add +105.3% 2.02% +1.18
CAT Caterpillar Inc. New 1.17% +1.17
KLAC KLA Corp. Add +521.1% 1.28% +1.11
GE General Electric Add +855.0% 1.12% +1.01
SPG Simon Property Group Inc. Add +346.7% 1.24% +0.97
MU Micron Technology Inc. New 0.91% +0.91
BNY Bank of New York Mellon Corp. New 0.88% +0.88
VRSN Verisign Inc. New 0.77% +0.77
BNS Bank of Nova Scotia Add +85.7% 1.41% +0.77
MDT Medtronic PLC New 0.74% +0.74
AVGO Broadcom Inc. Add +61.9% 1.69% +0.74
FOXA Fox Corp. Class A Add +35.0% 1.88% +0.73
ALLE Allegion PLC Add +505.9% 0.84% +0.69
IBM Intl Business Machines Corp. Add +93.8% 1.14% +0.60
GILD Gilead Sciences Inc. New 0.57% +0.57
KO The Coca-Cola Co. Add +24.5% 2.01% +0.55
CME Cme Group Inc. Add +52.7% 1.42% +0.54
BAP Credicorp Ltd. Add +74.2% 1.02% +0.50
WPC WP Carey Inc. New 0.45% +0.45
CMI Cummins Inc. New 0.44% +0.44
JPM JPMorgan Chase & Co. Add +172.1% 0.58% +0.38
BMO Bank of Montreal New 0.34% +0.34
PINS Pinterest Inc. Class A New 0.32% +0.32
V Visa Inc. Class A Add +2.6% 2.96% +0.28
JNJ Johnson & Johnson Add +13.7% 1.11% +0.28
NXPI NXP Semiconductors NV Add +91.0% 0.53% +0.25
TD Toronto-Dominion Bank New 0.20% +0.20
LH Labcorp Holdings Inc. New 0.19% +0.19
NTAP Netapp Inc. Add +35.7% 0.84% +0.19
FOX Fox Corp. Class B Add +14.0% 0.69% +0.18
AER Aercap Holdings NV Add +4.6% 0.76% +0.18
BAC Bank of America Corp. New 0.18% +0.18
ABT Abbott Laboratories New 0.15% +0.15
SSNC Ss&c Technologies Holdings Add +29.4% 0.60% +0.15
MA Mastercard Inc. Class A Add +0.1% 2.89% +0.15
AXP American Express Co. New 0.15% +0.15
EXPE Expedia Group Inc. Add +58.2% 0.25% +0.14
DECK Deckers Outdoor Corp. New 0.14% +0.14
PPG PPG Industries Inc. New 0.12% +0.12
J Jacobs Solutions Inc. New 0.12% +0.12
BKNG Booking Holdings Inc. Add +1.2% 2.23% +0.11
ZTS Zoetis Inc. New 0.11% +0.11
CDW CDW Corp. Add +45.4% 0.41% +0.10
QCOM Qualcomm Inc. Add +9.9% 0.50% +0.08

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 162$1.7BAAPL, NVDA, CSCO, MU, ABBV
Q1 2026 171$1.5BCSCO, NVDA, MSFT, AAPL, META
Q4 2025 148$1.8BMSFT, CSCO, NVDA, V, MA
Q3 2025 141$1.9BMSFT, CSCO, META, MA, V