Nordea Investment Management AB
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Nordea Investment Management AB reported 875 stock positions worth $94.7 billion. Its top holding was Microsoft (MSFT) at 5.4% of the portfolio, followed by Apple (AAPL, 5.0%) and Nvidia (NVDA, 4.1%). Compared with Q4 2024, it opened 27 new positions, sold out of 34, added to 584 and reduced 263. The biggest buy was a new position in Lam Research (LRCX) and the biggest sale Alphabet Class A (GOOGL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- STOCKHOLM, V7
- CIK
- 0001218210
- Portfolio Value
- $94.7B (Q1 2025)
- SEC Filing
- 0001218210-25-000010 ↗ filed May 14, 2025
Holdings Value
Holdings 875 stocks · $94.7B
| MSFT Microsoft Corp. | 5.42% | 13,947,679 | $5.1B | Add +12.3% |
| AAPL Apple Inc. | 4.99% | 21,546,342 | $4.7B | Add +2.4% |
| NVDA Nvidia Corp. | 4.06% | 36,725,347 | $3.8B | Add +6.7% |
| AMZN Amazon.com Inc. | 2.20% | 11,216,745 | $2.1B | Add +3.3% |
| GOOGL Alphabet Inc. Class A | 2.01% | 12,529,263 | $1.9B | Reduce -1.3% |
| MA Mastercard Inc. Class A | 1.60% | 2,821,795 | $1.5B | Add +12.4% |
| CSCO Cisco Systems Inc. | 1.36% | 20,962,816 | $1.3B | Add +12.0% |
| V Visa Inc. Class A | 1.26% | 3,474,180 | $1.2B | Reduce -14.8% |
| META Meta Platforms Inc. Class A | 1.25% | 2,095,736 | $1.2B | Reduce -0.9% |
| GOOG Alphabet Inc. Class C | 1.17% | 7,235,669 | $1.1B | Add +0.7% |
| JNJ Johnson & Johnson | 1.13% | 6,439,398 | $1.1B | Add +0.2% |
| WM Waste Management Inc. | 1.04% | 4,290,658 | $988.8M | Add +1.2% |
| LLY Eli Lilly & Co. | 1.03% | 1,217,371 | $979.9M | Add +5.5% |
| AVGO Broadcom Inc. | 1.03% | 6,011,384 | $974.8M | Add +14.2% |
| BKNG Booking Holdings Inc. | 0.98% | 207,030 | $926.4M | Add +15.1% |
| RSG Republic Services Inc. | 0.94% | 3,701,385 | $892.2M | Add +18.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.94% | 7,422,805 | $886.9M | Add +5.6% |
| ABBV Abbvie Inc. | 0.90% | 4,080,287 | $856.0M | Add +36.3% |
| MRK Merck & Co. Inc. | 0.89% | 9,416,070 | $839.3M | Add +0.2% |
| EMR Emerson Electric Co. | 0.88% | 7,696,005 | $833.9M | Add +9.7% |
| AMGN Amgen Inc. | 0.87% | 2,633,149 | $826.0M | Add +12.6% |
| CDNS Cadence Design SYS Inc. | 0.85% | 3,213,132 | $803.1M | Add +9.5% |
| NFLX Netflix Inc. | 0.84% | 876,606 | $797.3M | Add +3.4% |
| JPM JPMorgan Chase & Co. | 0.82% | 3,215,142 | $775.9M | Add +5.0% |
| BDX Becton Dickinson and Co. | 0.81% | 3,352,907 | $763.7M | Add +17.9% |
| MCK McKesson Corp. | 0.77% | 1,089,007 | $732.8M | Add +11.6% |
| LIN Linde PLC | 0.75% | 1,531,528 | $711.5M | Reduce -28.6% |
| CL Colgate-Palmolive Co. | 0.71% | 7,124,635 | $670.5M | Add +39.9% |
| NEE Nextera Energy Inc. | 0.70% | 9,300,039 | $665.3M | Add +5.3% |
| FTNT Fortinet Inc. | 0.69% | 6,868,076 | $650.1M | Reduce -7.9% |
| ADBE Adobe Inc. | 0.68% | 1,713,639 | $647.1M | Add +0.1% |
| CI The Cigna Group | 0.67% | 1,919,048 | $631.5M | Reduce -1.2% |
| NOW ServiceNow Inc. | 0.62% | 768,127 | $588.2M | Add +28.7% |
| AXP American Express Co. | 0.62% | 2,217,784 | $584.6M | Add +0.6% |
| EBAY eBay Inc. | 0.61% | 8,607,193 | $576.2M | Reduce -5.9% |
| PEP Pepsico Inc. | 0.60% | 3,726,719 | $567.8M | Reduce -1.1% |
| CRM Salesforce Inc. | 0.59% | 2,145,520 | $563.4M | Reduce -6.3% |
| LRCX Lam Research Corp. | 0.59% | 7,902,385 | $562.3M | New |
| CTAS Cintas Corp. | 0.57% | 2,617,848 | $536.1M | Add +9.6% |
| SNPS Synopsys Inc. | 0.56% | 1,240,449 | $530.6M | Add +18.8% |
| LKQ LKQ Corp. | 0.55% | 12,379,490 | $516.6M | Add +47.3% |
| PG The Procter & Gamble Co. | 0.54% | 3,029,787 | $515.5M | Add +4.5% |
| AZO AutoZone Inc. | 0.54% | 134,536 | $514.5M | Reduce -15.1% |
| C Citigroup Inc. | 0.54% | 7,409,887 | $514.1M | Add +4.1% |
| HIG Hartford Insurance Group Inc. | 0.54% | 4,098,443 | $507.1M | Add +4.1% |
| GIS General Mills Inc. | 0.52% | 8,195,489 | $495.8M | Add +5.0% |
| KO The Coca-Cola Co. | 0.50% | 6,587,897 | $472.6M | Reduce -9.3% |
| ELV Elevance Health Inc. | 0.49% | 1,073,173 | $468.4M | Reduce -9.3% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.49% | 6,041,031 | $465.2M | Add +10.0% |
| SYK Stryker Corp. | 0.49% | 1,259,553 | $463.7M | Add +29.6% |
| MSCI MSCI Inc. | 0.48% | 821,878 | $459.2M | Reduce -5.3% |
| ADP Automatic Data Processing | 0.48% | 1,507,081 | $456.3M | Reduce -6.1% |
| ECL Ecolab Inc. | 0.48% | 1,804,304 | $452.3M | Add +10.9% |
| TT Trane Technologies PLC | 0.46% | 1,298,329 | $432.4M | Add +32.7% |
| URI United Rentals Inc. | 0.45% | 704,422 | $430.7M | Reduce -3.9% |
| TMUS T-Mobile US Inc. | 0.45% | 1,589,325 | $424.6M | Add +7.9% |
| WFC Wells Fargo & Co. | 0.44% | 5,939,174 | $420.6M | Reduce -5.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.44% | 787,984 | $416.0M | Reduce -2.2% |
| VLTO Veralto Corp. | 0.44% | 4,326,236 | $415.9M | Add +10.3% |
| INTU Intuit Inc. | 0.42% | 670,244 | $402.1M | Add +13.6% |
| PGR Progressive Corp. | 0.42% | 1,409,832 | $399.7M | Add +31.8% |
| VZ Verizon Communications Inc. | 0.42% | 8,684,813 | $396.3M | Reduce -3.1% |
| SNA Snap-on Inc. | 0.42% | 1,178,318 | $395.3M | Add +4.4% |
| PANW Palo Alto Networks Inc. | 0.40% | 2,260,697 | $377.9M | Add +24.1% |
| FISV Fiserv Inc. | 0.39% | 1,717,384 | $371.5M | Add +6.7% |
| AWK American Water Works Co. Inc. | 0.39% | 2,469,859 | $368.1M | Add +2.1% |
| DASH DoorDash Inc. Class A | 0.38% | 2,053,459 | $363.9M | Add +17.6% |
| DHR Danaher Corp. | 0.38% | 1,783,535 | $360.3M | Add +129.1% |
| SPGI S&P Global Inc. | 0.38% | 711,282 | $355.6M | Add +8.0% |
| TSLA Tesla Inc. | 0.37% | 1,428,837 | $354.6M | Add +16.4% |
| EW Edwards Lifesciences Corp. | 0.37% | 4,911,690 | $353.0M | Add +21.1% |
| ZTS Zoetis Inc. | 0.37% | 2,141,277 | $348.3M | Add +3.7% |
| MET Metlife Inc. | 0.36% | 4,345,468 | $345.2M | Add +2.5% |
| HD Home Depot Inc. | 0.36% | 937,084 | $339.8M | Add +15.0% |
| QCOM Qualcomm Inc. | 0.36% | 2,251,508 | $337.5M | Add +22.3% |
| UPS United Parcel Service Class B | 0.36% | 3,068,927 | $337.4M | Add +5.1% |
| AMT American Tower Corp. | 0.35% | 1,516,898 | $329.3M | Add +6.7% |
| LH Labcorp Holdings Inc. | 0.35% | 1,427,231 | $327.8M | Add +35.5% |
| AMAT Applied Materials Inc. | 0.35% | 2,281,672 | $327.0M | Add +9.8% |
| KR Kroger Co. | 0.34% | 4,759,356 | $323.6M | Add +17.4% |
| A Agilent Technologies Inc. | 0.34% | 2,766,541 | $320.9M | Reduce -13.5% |
| GILD Gilead Sciences Inc. | 0.33% | 2,830,047 | $317.0M | Add +267.1% |
| COR Cencora Inc. | 0.33% | 1,125,202 | $313.9M | Add +4.5% |
| SFM Sprouts Farmers Market Inc. | 0.33% | 2,067,412 | $309.7M | Reduce -24.1% |
| OC Owens Corning | 0.33% | 2,209,873 | $309.6M | Add +2.9% |
| KMB Kimberly-Clark Corp. | 0.32% | 2,140,022 | $305.1M | Reduce -21.9% |
| HCA HCA Healthcare Inc. | 0.32% | 868,618 | $300.2M | Add +3.0% |
| CVS CVS Health Corp. | 0.32% | 4,411,182 | $299.9M | Reduce -15.3% |
| WTRG Essential Utilities Inc. | 0.31% | 7,368,205 | $291.9M | Add +8.2% |
| CAG Conagra Brands Inc. | 0.31% | 10,782,446 | $290.8M | Reduce -12.2% |
| MRVL Marvell Technology Inc. | 0.31% | 4,851,424 | $288.9M | Add +4.3% |
| EXC Exelon Corp. | 0.30% | 6,219,211 | $286.1M | Add +148.6% |
| NKE Nike Inc. Class B | 0.29% | 4,362,676 | $278.4M | Reduce -8.1% |
| CHKP Check Point Software Tech | 0.29% | 1,222,299 | $276.2M | Reduce -44.3% |
| GPN Global Payments Inc. | 0.29% | 2,852,454 | $276.1M | Reduce -3.3% |
| LEN Lennar Corp. Class A | 0.29% | 2,417,511 | $274.8M | Add +7.4% |
| WDAY Workday Inc. Class A | 0.29% | 1,183,576 | $272.0M | Add +68.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.28% | 772,348 | $265.1M | Add +5.0% |
| CMCSA Comcast Corp. Class A | 0.28% | 7,229,213 | $264.2M | Reduce -10.3% |
| ROST Ross Stores Inc. | 0.27% | 2,033,726 | $255.5M | Add +2.9% |
Portfolio Sells Q4 2024 → Q1 2025
| GOOGL Alphabet Inc. Class A | Reduce -1.3% | 2.01% | −0.53 |
| ANSS Ansys Inc. | Reduce -97.5% | 0.01% | −0.29 |
| BMY Bristol-Myers Squibb Co. | Reduce -88.7% | 0.04% | −0.28 |
| AZPN Aspen Technology Inc. | Sold out | 0.00% | −0.23 |
| CRM Salesforce Inc. | Reduce -6.3% | 0.59% | −0.21 |
| TER Teradyne Inc. | Reduce -99.1% | 0.00% | −0.20 |
| LIN Linde PLC | Reduce -28.6% | 0.75% | −0.19 |
| EIX Edison International | Reduce -49.6% | 0.10% | −0.16 |
| TRV The Travelers Cos Inc. | Reduce -96.9% | 0.01% | −0.16 |
| MDLZ Mondelez International Inc. Class A | Reduce -55.9% | 0.16% | −0.16 |
| CHKP Check Point Software Tech | Reduce -44.3% | 0.29% | −0.14 |
| BAX Baxter International Inc. | Reduce -67.7% | 0.08% | −0.13 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -93.2% | 0.01% | −0.13 |
| MELI MercadoLibre Inc. | Reduce -46.8% | 0.17% | −0.11 |
| A Agilent Technologies Inc. | Reduce -13.5% | 0.34% | −0.11 |
| UNH Unitedhealth Group Inc. | Reduce -48.6% | 0.13% | −0.11 |
| SBUX Starbucks Corp. | Reduce -66.8% | 0.06% | −0.11 |
| GTLS Chart Industries Inc. | Reduce -0.7% | 0.27% | −0.10 |
| V Visa Inc. Class A | Reduce -14.8% | 1.26% | −0.10 |
| MKSI MKS Inc. | Reduce -10.0% | 0.19% | −0.09 |
| URI United Rentals Inc. | Reduce -3.9% | 0.45% | −0.09 |
| NKE Nike Inc. Class B | Reduce -8.1% | 0.29% | −0.08 |
| MTCH Match Group Inc. | Sold out | 0.00% | −0.08 |
| ACN Accenture PLC Class A | Reduce -16.3% | 0.22% | −0.08 |
| KVUE Kenvue Inc. | Reduce -57.9% | 0.07% | −0.08 |
| PHM Pultegroup Inc. | Reduce -38.7% | 0.09% | −0.07 |
| VRSK Verisk Analytics Inc. | Reduce -39.7% | 0.13% | −0.07 |
| MSCI MSCI Inc. | Reduce -5.3% | 0.48% | −0.06 |
| MTZ Mastec Inc. | Reduce -8.1% | 0.21% | −0.06 |
| META Meta Platforms Inc. Class A | Reduce -0.9% | 1.25% | −0.06 |
| MDT Medtronic PLC | Reduce -34.8% | 0.17% | −0.06 |
| AEP American Electric Power | Reduce -95.8% | 0.00% | −0.06 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -13.0% | 0.15% | −0.06 |
| GPN Global Payments Inc. | Reduce -3.3% | 0.29% | −0.05 |
| KHC The Kraft Heinz Co. | Reduce -20.1% | 0.23% | −0.05 |
| MCD McDonald's Corp. | Reduce -27.6% | 0.19% | −0.05 |
| SXT Sensient Technologies Corp. | Sold out | 0.00% | −0.05 |
| KMB Kimberly-Clark Corp. | Reduce -21.9% | 0.32% | −0.05 |
| FTNT Fortinet Inc. | Reduce -7.9% | 0.69% | −0.05 |
| CAG Conagra Brands Inc. | Reduce -12.2% | 0.31% | −0.05 |
| PLD Prologis Inc. | Reduce -84.3% | 0.01% | −0.05 |
| SFM Sprouts Farmers Market Inc. | Reduce -24.1% | 0.33% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -10.3% | 0.28% | −0.04 |
| ORCL Oracle Corp. | Reduce -4.1% | 0.14% | −0.04 |
| SNX TD Synnex Corp. | Reduce -18.1% | 0.10% | −0.04 |
| CMI Cummins Inc. | Reduce -1.0% | 0.26% | −0.04 |
| APD Air Products & Chemicals Inc. | Reduce -85.8% | 0.01% | −0.03 |
| OGN Organon & Co. | Reduce -28.1% | 0.07% | −0.03 |
| LVS Las Vegas Sands Corp. | Reduce -1.6% | 0.08% | −0.03 |
| PH Parker Hannifin Corp. | Reduce -16.4% | 0.10% | −0.03 |
Portfolio Buys Q4 2024 → Q1 2025
| LRCX Lam Research Corp. | New | 0.59% | +0.59 |
| ABBV Abbvie Inc. | Add +36.3% | 0.90% | +0.35 |
| RSG Republic Services Inc. | Add +18.3% | 0.94% | +0.29 |
| GILD Gilead Sciences Inc. | Add +267.1% | 0.33% | +0.26 |
| AMGN Amgen Inc. | Add +12.6% | 0.87% | +0.23 |
| CL Colgate-Palmolive Co. | Add +39.9% | 0.71% | +0.22 |
| LKQ LKQ Corp. | Add +47.3% | 0.55% | +0.22 |
| MA Mastercard Inc. Class A | Add +12.4% | 1.60% | +0.22 |
| SCHW Schwab (charles) Corp. | Add +1955.7% | 0.22% | +0.21 |
| PYPL PayPal Holdings Inc. | Add +637.5% | 0.25% | +0.21 |
| EXC Exelon Corp. | Add +148.6% | 0.30% | +0.20 |
| CSCO Cisco Systems Inc. | Add +12.0% | 1.36% | +0.20 |
| DHR Danaher Corp. | Add +129.1% | 0.38% | +0.19 |
| ANET Arista Networks Inc. | New | 0.19% | +0.19 |
| WAB Wabtec Corp. | Add +587.8% | 0.23% | +0.19 |
| MCK McKesson Corp. | Add +11.6% | 0.77% | +0.19 |
| JNJ Johnson & Johnson | Add +0.2% | 1.13% | +0.16 |
| PGR Progressive Corp. | Add +31.8% | 0.42% | +0.15 |
| WM Waste Management Inc. | Add +1.2% | 1.04% | +0.15 |
| DGX Quest Diagnostics Inc. | Add +139.8% | 0.22% | +0.14 |
| MCO Moody's Corp. | Add +129.3% | 0.24% | +0.14 |
| BDX Becton Dickinson and Co. | Add +17.9% | 0.81% | +0.13 |
| SYK Stryker Corp. | Add +29.6% | 0.49% | +0.12 |
| DLR Digital Realty Trust Inc. | Add +3114.6% | 0.13% | +0.12 |
| TMUS T-Mobile US Inc. | Add +7.9% | 0.45% | +0.11 |
| CTAS Cintas Corp. | Add +9.6% | 0.57% | +0.11 |
| LLY Eli Lilly & Co. | Add +5.5% | 1.03% | +0.11 |
| EQH Equitable Holdings Inc. | Add +115.6% | 0.18% | +0.10 |
| PODD Insulet Corp. | Add +5964.4% | 0.10% | +0.10 |
| WDAY Workday Inc. Class A | Add +68.4% | 0.29% | +0.10 |
| LH Labcorp Holdings Inc. | Add +35.5% | 0.35% | +0.09 |
| SJM The JM Smucker Co. | Add +44.9% | 0.25% | +0.09 |
| HIG Hartford Insurance Group Inc. | Add +4.1% | 0.54% | +0.09 |
| BRO Brown & Brown Inc. | Add +2842.4% | 0.08% | +0.08 |
| KR Kroger Co. | Add +17.4% | 0.34% | +0.08 |
| ECL Ecolab Inc. | Add +10.9% | 0.48% | +0.08 |
| TT Trane Technologies PLC | Add +32.7% | 0.46% | +0.08 |
| COR Cencora Inc. | Add +4.5% | 0.33% | +0.08 |
| DASH DoorDash Inc. Class A | Add +17.6% | 0.38% | +0.08 |
| AMT American Tower Corp. | Add +6.7% | 0.35% | +0.07 |
| AWK American Water Works Co. Inc. | Add +2.1% | 0.39% | +0.07 |
| NEM Newmont Corp. | Add +29.5% | 0.16% | +0.07 |
| FAST Fastenal Co. | Add +60.8% | 0.15% | +0.06 |
| CLX Clorox Company | Add +3832.8% | 0.06% | +0.06 |
| CCI Crown Castle Inc. | Add +32.2% | 0.18% | +0.06 |
| RMD Resmed Inc. | Add +63.4% | 0.17% | +0.06 |
| UBER Uber Technologies Inc. | Add +19.7% | 0.20% | +0.06 |
| DHI D.R. Horton Inc. | Add +118.1% | 0.12% | +0.06 |
| QCOM Qualcomm Inc. | Add +22.3% | 0.36% | +0.06 |
| EW Edwards Lifesciences Corp. | Add +21.1% | 0.37% | +0.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 921 | $122.6B | NVDA, AAPL, MSFT, AVGO, AMZN |
| Q1 2026 | 864 | $107.2B | NVDA, AAPL, MSFT, AMZN, AVGO |
| Q4 2025 | 859 | $116.4B | NVDA, MSFT, AAPL, AVGO, AMZN |
| Q3 2025 | 845 | $114.2B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q2 2025 | 861 | $107.8B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q1 2025 | 875 | $94.7B | MSFT, AAPL, NVDA, AMZN, GOOGL |
| Q4 2024 | 882 | $95.6B | AAPL, MSFT, NVDA, GOOGL, AMZN |
| Q3 2024 | 893 | $88.0B | MSFT, AAPL, NVDA, GOOGL, AMZN |
| Q2 2024 | 910 | $85.2B | MSFT, AAPL, NVDA, GOOGL, AMZN |
| Q1 2024 | 928 | $84.6B | MSFT, AAPL, NVDA, GOOGL, V |