Mirova US LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Mirova US LLC reported 34 stock positions worth $8.4 billion. Its top holding was Microsoft (MSFT) at 7.1% of the portfolio, followed by Nvidia (NVDA, 7.0%) and Mastercard Class A (MA, 6.7%). Compared with Q4 2024, it added to 33 and reduced 1. The biggest buy was Roper Technologies (ROP, shares +3%) and the biggest sale Mastercard Class A (MA, shares −11%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0001802900
- Portfolio Value
- $8.4B (Q1 2025)
- SEC Filing
- 0001172661-25-002088 ↗ filed May 15, 2025
Holdings Value
Holdings 34 stocks · $8.4B
| MSFT Microsoft Corp. | 7.14% | 1,602,280 | $601.5M | Add +3.6% |
| NVDA Nvidia Corp. | 6.95% | 5,399,484 | $585.2M | Add +3.6% |
| MA Mastercard Inc. Class A | 6.73% | 1,033,252 | $566.3M | Reduce -11.3% |
| LLY Eli Lilly & Co. | 5.99% | 610,755 | $504.4M | Add +3.5% |
| ECL Ecolab Inc. | 5.96% | 1,979,175 | $501.8M | Add +3.3% |
| EBAY eBay Inc. | 5.83% | 7,249,272 | $491.0M | Add +3.3% |
| ROP Roper Technologies Inc. | 4.96% | 708,549 | $417.7M | Add +3.4% |
| TMO Thermo Fisher Scientific Inc. | 4.66% | 788,939 | $392.6M | Add +3.5% |
| WM Waste Management Inc. | 4.02% | 1,463,261 | $338.8M | Add +3.5% |
| TSM Taiwan Semiconductor-SP ADR | 3.49% | 1,767,831 | $293.5M | Add +4.0% |
| DHR Danaher Corp. | 3.47% | 1,426,756 | $292.5M | Add +3.6% |
| PANW Palo Alto Networks Inc. | 3.47% | 1,710,686 | $291.9M | Add +3.5% |
| V Visa Inc. Class A | 3.32% | 796,640 | $279.2M | Add +3.4% |
| NEE Nextera Energy Inc. | 3.30% | 3,919,486 | $277.9M | Add +3.3% |
| AWK American Water Works Co. Inc. | 2.83% | 1,616,705 | $238.5M | Add +3.7% |
| ACN Accenture PLC Class A | 2.74% | 739,285 | $230.7M | Add +3.6% |
| XYL Xylem Inc. | 2.70% | 1,906,271 | $227.7M | Add +3.5% |
| SHOP Shopify Inc. Class A | 2.31% | 2,034,159 | $194.2M | Add +3.2% |
| ISRG Intuitive Surgical Inc. | 2.26% | 384,492 | $190.4M | Add +3.9% |
| CRM Salesforce Inc. | 2.07% | 650,395 | $174.5M | Add +3.6% |
| APTV Aptiv PLC | 1.90% | 2,690,741 | $160.1M | Add +3.5% |
| CP Canadian Pacific Kansas City | 1.80% | 2,157,535 | $151.5M | Add +3.5% |
| WTS Watts Water Technologies-A | 1.77% | 728,984 | $148.7M | Add +3.6% |
| EW Edwards Lifesciences Corp. | 1.62% | 1,876,996 | $136.0M | Add +3.8% |
| BALL Ball Corp. | 1.57% | 2,544,267 | $132.5M | Add +4.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.48% | 1,020,491 | $124.3M | Add +3.6% |
| FSLR First Solar Inc. | 1.34% | 894,616 | $113.1M | Add +38.4% |
| AGCO Agco Corp. | 1.33% | 1,213,995 | $112.4M | Add +3.5% |
| VLTO Veralto Corp. | 1.24% | 1,068,326 | $104.1M | Add +3.5% |
| WMS Advanced Drainage Systems Inc. | 0.89% | 690,435 | $75.0M | Add +69.4% |
| ENPH Enphase Energy Inc. | 0.81% | 1,096,831 | $68.1M | Add +92.8% |
| CL Colgate-Palmolive Co. | 0.02% | 16,111 | $1.5M | Add +36.0% |
| JCI Johnson Controls Internation | 0.01% | 14,455 | $1.2M | Add +36.0% |
| CSCO Cisco Systems Inc. | 0.01% | 18,315 | $1.1M | Add +36.0% |
Portfolio Sells Q4 2024 → Q1 2025
| MA Mastercard Inc. Class A | Reduce -11.3% | 6.73% | −0.63 |
Portfolio Buys Q4 2024 → Q1 2025
| ROP Roper Technologies Inc. | Add +3.4% | 4.96% | +0.69 |
| EBAY eBay Inc. | Add +3.3% | 5.83% | +0.62 |
| WM Waste Management Inc. | Add +3.5% | 4.02% | +0.60 |
| ECL Ecolab Inc. | Add +3.3% | 5.96% | +0.57 |
| LLY Eli Lilly & Co. | Add +3.5% | 5.99% | +0.53 |
| AWK American Water Works Co. Inc. | Add +3.7% | 2.83% | +0.50 |
| V Visa Inc. Class A | Add +3.4% | 3.32% | +0.39 |
| ENPH Enphase Energy Inc. | Add +92.8% | 0.81% | +0.34 |
| WMS Advanced Drainage Systems Inc. | Add +69.4% | 0.89% | +0.33 |
| XYL Xylem Inc. | Add +3.5% | 2.70% | +0.14 |
| WTS Watts Water Technologies-A | Add +3.6% | 1.77% | +0.05 |
| TJX TJX Companies Inc. | Add +3.6% | 1.48% | +0.05 |
| NEE Nextera Energy Inc. | Add +3.3% | 3.30% | +0.04 |
| AGCO Agco Corp. | Add +3.5% | 1.33% | +0.02 |
| APTV Aptiv PLC | Add +3.5% | 1.90% | +0.02 |
| EW Edwards Lifesciences Corp. | Add +3.8% | 1.62% | +0.01 |
| CL Colgate-Palmolive Co. | Add +36.0% | 0.02% | +0.01 |
| CSCO Cisco Systems Inc. | Add +36.0% | 0.01% | +0.00 |
| JCI Johnson Controls Internation | Add +36.0% | 0.01% | +0.00 |
| CP Canadian Pacific Kansas City | Add +3.5% | 1.80% | −0.01 |
| FSLR First Solar Inc. | Add +38.4% | 1.34% | −0.02 |
| VLTO Veralto Corp. | Add +3.5% | 1.24% | −0.02 |
| BALL Ball Corp. | Add +4.6% | 1.57% | −0.03 |
| ISRG Intuitive Surgical Inc. | Add +3.9% | 2.26% | −0.06 |
| TMO Thermo Fisher Scientific Inc. | Add +3.5% | 4.66% | −0.10 |
| PANW Palo Alto Networks Inc. | Add +3.5% | 3.47% | −0.14 |
| SHOP Shopify Inc. Class A | Add +3.2% | 2.31% | −0.21 |
| ACN Accenture PLC Class A | Add +3.6% | 2.74% | −0.27 |
| DHR Danaher Corp. | Add +3.6% | 3.47% | −0.32 |
| CRM Salesforce Inc. | Add +3.6% | 2.07% | −0.44 |
| TSM Taiwan Semiconductor-SP ADR | Add +4.0% | 3.49% | −0.54 |
| MSFT Microsoft Corp. | Add +3.6% | 7.14% | −0.68 |
| NVDA Nvidia Corp. | Add +3.6% | 6.95% | −1.44 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 45 | $9.3B | NVDA, TSM, MA, MSFT, PANW |
| Q1 2026 | 42 | $8.8B | NVDA, MSFT, MA, TSM, TJX |
| Q4 2025 | 43 | $10.0B | NVDA, MSFT, MA, TSM, SHOP |
| Q3 2025 | 36 | $9.9B | NVDA, MSFT, MA, ECL, TSM |
| Q2 2025 | 35 | $9.7B | NVDA, MSFT, MA, ECL, ROP |
| Q1 2025 | 34 | $8.4B | MSFT, NVDA, MA, LLY, ECL |
| Q4 2024 | 34 | $8.3B | NVDA, MSFT, MA, LLY, ECL |
| Q3 2024 | 33 | $8.7B | MSFT, NVDA, MA, LLY, ECL |
| Q2 2024 | 29 | $8.0B | NVDA, MSFT, LLY, MA, EBAY |
| Q1 2024 | 27 | $7.4B | MA, MSFT, NVDA, EBAY, LLY |