Nordea Investment Management AB
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), Nordea Investment Management AB reported 861 stock positions worth $107.8 billion. Its top holding was Microsoft (MSFT) at 6.5% of the portfolio, followed by Nvidia (NVDA, 5.5%) and Apple (AAPL, 4.1%). Compared with Q1 2025, it opened 22 new positions, sold out of 37, added to 608 and reduced 226. The biggest buy was Nvidia (NVDA, shares +3%) and the biggest sale Mastercard Class A (MA, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- STOCKHOLM, V7
- CIK
- 0001218210
- Portfolio Value
- $107.8B (Q2 2025)
- SEC Filing
- 0001218210-25-000012 ↗ filed Jul 29, 2025
Holdings Value
Holdings 861 stocks · $107.8B
| MSFT Microsoft Corp. | 6.52% | 14,153,148 | $7.0B | Add +1.5% |
| NVDA Nvidia Corp. | 5.53% | 37,839,683 | $6.0B | Add +3.0% |
| AAPL Apple Inc. | 4.13% | 22,268,852 | $4.5B | Add +3.4% |
| AMZN Amazon.com Inc. | 2.30% | 11,216,339 | $2.5B | Reduce 0.0% |
| GOOGL Alphabet Inc. Class A | 2.12% | 12,905,704 | $2.3B | Add +3.0% |
| AVGO Broadcom Inc. | 1.74% | 6,839,082 | $1.9B | Add +13.8% |
| META Meta Platforms Inc. Class A | 1.60% | 2,322,667 | $1.7B | Add +10.8% |
| CSCO Cisco Systems Inc. | 1.37% | 21,341,310 | $1.5B | Add +1.8% |
| GOOG Alphabet Inc. Class C | 1.27% | 7,709,452 | $1.4B | Add +6.5% |
| MA Mastercard Inc. Class A | 1.23% | 2,384,970 | $1.3B | Reduce -15.5% |
| BKNG Booking Holdings Inc. | 1.20% | 226,608 | $1.3B | Add +9.5% |
| NFLX Netflix Inc. | 1.17% | 945,067 | $1.3B | Add +7.8% |
| EMR Emerson Electric Co. | 1.14% | 9,195,005 | $1.2B | Add +19.5% |
| TT Trane Technologies PLC | 0.99% | 2,455,734 | $1.1B | Add +89.2% |
| LRCX Lam Research Corp. | 0.95% | 10,594,574 | $1.0B | Add +34.1% |
| V Visa Inc. Class A | 0.94% | 2,898,338 | $1.0B | Reduce -16.6% |
| LLY Eli Lilly & Co. | 0.94% | 1,294,391 | $1.0B | Add +6.3% |
| JNJ Johnson & Johnson | 0.88% | 6,259,259 | $951.1M | Reduce -2.8% |
| JPM JPMorgan Chase & Co. | 0.86% | 3,204,332 | $932.0M | Reduce -0.3% |
| NOW ServiceNow Inc. | 0.85% | 896,122 | $918.7M | Add +16.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.83% | 7,347,792 | $899.1M | Reduce -1.0% |
| WM Waste Management Inc. | 0.81% | 3,829,480 | $870.2M | Reduce -10.8% |
| MRK Merck & Co. Inc. | 0.78% | 10,735,428 | $845.1M | Add +14.0% |
| ABBV Abbvie Inc. | 0.77% | 4,489,477 | $833.7M | Add +10.0% |
| AMGN Amgen Inc. | 0.74% | 2,851,938 | $796.0M | Add +8.3% |
| MCK McKesson Corp. | 0.67% | 994,678 | $722.2M | Reduce -8.7% |
| AXP American Express Co. | 0.67% | 2,267,377 | $721.5M | Add +2.2% |
| ANET Arista Networks Inc. | 0.67% | 7,065,054 | $721.3M | Add +193.3% |
| FTNT Fortinet Inc. | 0.66% | 6,726,135 | $706.0M | Reduce -2.1% |
| ADBE Adobe Inc. | 0.65% | 1,805,683 | $702.8M | Add +5.4% |
| LIN Linde PLC | 0.65% | 1,489,031 | $696.1M | Reduce -2.8% |
| INTU Intuit Inc. | 0.64% | 875,558 | $687.0M | Add +30.6% |
| EBAY eBay Inc. | 0.63% | 9,085,603 | $674.1M | Add +5.6% |
| RSG Republic Services Inc. | 0.61% | 2,688,522 | $656.5M | Reduce -27.4% |
| CI The Cigna Group | 0.59% | 1,941,124 | $636.0M | Add +1.1% |
| DASH DoorDash Inc. Class A | 0.58% | 2,574,182 | $626.6M | Add +25.4% |
| CRM Salesforce Inc. | 0.58% | 2,271,603 | $621.1M | Add +5.9% |
| C Citigroup Inc. | 0.57% | 7,201,827 | $613.7M | Reduce -2.8% |
| BDX Becton Dickinson and Co. | 0.54% | 3,365,509 | $577.4M | Add +0.4% |
| URI United Rentals Inc. | 0.52% | 749,276 | $565.4M | Add +6.4% |
| CL Colgate-Palmolive Co. | 0.52% | 6,191,771 | $556.7M | Reduce -13.1% |
| MRVL Marvell Technology Inc. | 0.52% | 7,195,669 | $555.6M | Add +48.3% |
| CDNS Cadence Design SYS Inc. | 0.52% | 1,793,835 | $555.1M | Reduce -44.2% |
| CTAS Cintas Corp. | 0.51% | 2,496,732 | $551.1M | Reduce -4.6% |
| SNPS Synopsys Inc. | 0.51% | 1,058,564 | $544.9M | Reduce -14.7% |
| NEE Nextera Energy Inc. | 0.50% | 7,836,465 | $533.9M | Reduce -15.7% |
| HIG Hartford Insurance Group Inc. | 0.48% | 4,091,676 | $513.7M | Reduce -0.2% |
| UBER Uber Technologies Inc. | 0.47% | 5,459,829 | $506.6M | Add +105.9% |
| PANW Palo Alto Networks Inc. | 0.44% | 2,365,301 | $478.8M | Add +4.6% |
| LH Labcorp Holdings Inc. | 0.44% | 1,829,039 | $477.0M | Add +28.1% |
| WFC Wells Fargo & Co. | 0.43% | 5,783,095 | $466.0M | Reduce -2.6% |
| KO The Coca-Cola Co. | 0.43% | 6,542,059 | $459.8M | Reduce -0.7% |
| LKQ LKQ Corp. | 0.42% | 12,367,007 | $456.6M | Reduce -0.1% |
| TMUS T-Mobile US Inc. | 0.42% | 1,904,969 | $450.9M | Add +19.9% |
| ADP Automatic Data Processing | 0.42% | 1,472,835 | $448.3M | Reduce -2.3% |
| GIS General Mills Inc. | 0.41% | 8,588,624 | $443.2M | Add +4.8% |
| SYK Stryker Corp. | 0.41% | 1,120,319 | $440.4M | Reduce -11.1% |
| TSLA Tesla Inc. | 0.41% | 1,366,620 | $439.0M | Reduce -4.3% |
| CEG Constellation Energy | 0.41% | 1,363,410 | $438.2M | Add +30.9% |
| GILD Gilead Sciences Inc. | 0.41% | 3,956,933 | $436.6M | Add +39.8% |
| ECL Ecolab Inc. | 0.40% | 1,613,002 | $431.3M | Reduce -10.6% |
| VLTO Veralto Corp. | 0.40% | 4,284,088 | $430.6M | Reduce -1.0% |
| AMAT Applied Materials Inc. | 0.40% | 2,329,966 | $427.3M | Add +2.1% |
| PEP Pepsico Inc. | 0.39% | 3,193,102 | $420.6M | Reduce -14.3% |
| PG The Procter & Gamble Co. | 0.39% | 2,635,401 | $418.6M | Reduce -13.0% |
| VRT Vertiv Holdings Co. Class A | 0.39% | 3,246,769 | $415.1M | Add +100.1% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.38% | 800,068 | $406.0M | Add +3.6% |
| A Agilent Technologies Inc. | 0.36% | 3,213,748 | $383.1M | Add +16.2% |
| SPGI S&P Global Inc. | 0.35% | 730,290 | $379.4M | Add +2.7% |
| SNA Snap-on Inc. | 0.35% | 1,221,748 | $376.8M | Add +3.7% |
| VZ Verizon Communications Inc. | 0.35% | 8,734,229 | $372.4M | Add +0.6% |
| PGR Progressive Corp. | 0.34% | 1,401,116 | $371.0M | Reduce -0.6% |
| ZTS Zoetis Inc. | 0.34% | 2,356,166 | $368.2M | Add +10.0% |
| MSCI MSCI Inc. | 0.34% | 641,470 | $365.7M | Reduce -21.9% |
| QCOM Qualcomm Inc. | 0.34% | 2,295,458 | $363.4M | Add +1.9% |
| UPS United Parcel Service Class B | 0.34% | 3,598,284 | $362.5M | Add +17.3% |
| MET Metlife Inc. | 0.33% | 4,426,101 | $355.2M | Add +1.9% |
| DHR Danaher Corp. | 0.33% | 1,763,580 | $352.2M | Reduce -1.1% |
| EQIX Equinix Inc. | 0.33% | 450,693 | $352.2M | Add +44.7% |
| HCA HCA Healthcare Inc. | 0.33% | 927,781 | $350.4M | Add +6.8% |
| HD Home Depot Inc. | 0.32% | 948,793 | $347.1M | Add +1.3% |
| COR Cencora Inc. | 0.32% | 1,157,951 | $346.5M | Add +2.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.32% | 2,807,113 | $346.5M | Add +53.0% |
| PLTR Palantir Technologies Inc. Class A | 0.32% | 2,470,129 | $339.8M | Add +116.8% |
| EW Edwards Lifesciences Corp. | 0.31% | 4,357,428 | $338.6M | Reduce -11.3% |
| WDAY Workday Inc. Class A | 0.31% | 1,397,260 | $334.9M | Add +18.1% |
| AMT American Tower Corp. | 0.31% | 1,532,818 | $334.4M | Add +1.1% |
| WAB Wabtec Corp. | 0.31% | 1,592,529 | $333.1M | Add +33.4% |
| FISV Fiserv Inc. | 0.31% | 1,925,448 | $329.4M | Add +12.1% |
| IQV Iqvia Holdings Inc. | 0.30% | 2,060,460 | $326.3M | Add +41.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.30% | 670,264 | $325.4M | Reduce -14.9% |
| AWK American Water Works Co. Inc. | 0.30% | 2,311,591 | $318.9M | Reduce -6.4% |
| GTLS Chart Industries Inc. | 0.29% | 1,906,083 | $317.2M | Add +5.7% |
| KR Kroger Co. | 0.29% | 4,415,092 | $315.6M | Reduce -7.2% |
| CRH CRH PLC | 0.29% | 3,369,259 | $308.9M | Add +14.6% |
| ELV Elevance Health Inc. | 0.29% | 795,123 | $307.9M | Reduce -25.9% |
| OC Owens Corning | 0.28% | 2,225,800 | $305.3M | Add +0.7% |
| KMB Kimberly-Clark Corp. | 0.28% | 2,380,714 | $305.0M | Add +11.3% |
| EXC Exelon Corp. | 0.28% | 6,944,168 | $298.7M | Add +11.7% |
| MCO Moody's Corp. | 0.28% | 604,010 | $298.5M | Add +19.6% |
Portfolio Sells Q1 2025 → Q2 2025
| MA Mastercard Inc. Class A | Reduce -15.5% | 1.23% | −0.38 |
| IFF Intl Flavors & Fragrances | Reduce -63.5% | 0.15% | −0.34 |
| CDNS Cadence Design SYS Inc. | Reduce -44.2% | 0.52% | −0.33 |
| RSG Republic Services Inc. | Reduce -27.4% | 0.61% | −0.33 |
| V Visa Inc. Class A | Reduce -16.6% | 0.94% | −0.31 |
| AZO AutoZone Inc. | Reduce -41.6% | 0.27% | −0.28 |
| JNJ Johnson & Johnson | Reduce -2.8% | 0.88% | −0.25 |
| WM Waste Management Inc. | Reduce -10.8% | 0.81% | −0.24 |
| PEP Pepsico Inc. | Reduce -14.3% | 0.39% | −0.21 |
| ELV Elevance Health Inc. | Reduce -25.9% | 0.29% | −0.21 |
| NEE Nextera Energy Inc. | Reduce -15.7% | 0.50% | −0.21 |
| CL Colgate-Palmolive Co. | Reduce -13.1% | 0.52% | −0.19 |
| DGX Quest Diagnostics Inc. | Reduce -81.9% | 0.04% | −0.19 |
| CCI Crown Castle Inc. | Reduce -97.7% | 0.00% | −0.18 |
| ROST Ross Stores Inc. | Reduce -60.8% | 0.09% | −0.18 |
| NKE Nike Inc. Class B | Reduce -56.9% | 0.12% | −0.17 |
| ENPH Enphase Energy Inc. | Reduce -99.5% | 0.00% | −0.17 |
| PG The Procter & Gamble Co. | Reduce -13.0% | 0.39% | −0.16 |
| MSCI MSCI Inc. | Reduce -21.9% | 0.34% | −0.15 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -14.9% | 0.30% | −0.14 |
| ADM Archer-Daniels-Midland Co. | Reduce -98.2% | 0.00% | −0.13 |
| LKQ LKQ Corp. | Reduce -0.1% | 0.42% | −0.12 |
| DLR Digital Realty Trust Inc. | Reduce -93.6% | 0.01% | −0.12 |
| FBIN Fortune Brands Innovations I | Reduce -93.7% | 0.01% | −0.12 |
| CAG Conagra Brands Inc. | Reduce -6.3% | 0.19% | −0.12 |
| ROP Roper Technologies Inc. | Reduce -32.6% | 0.15% | −0.12 |
| DELL Dell Technologies -C | Reduce -89.2% | 0.02% | −0.11 |
| LIN Linde PLC | Reduce -2.8% | 0.65% | −0.11 |
| MCK McKesson Corp. | Reduce -8.7% | 0.67% | −0.10 |
| TJX TJX Companies Inc. | Reduce -1.0% | 0.83% | −0.10 |
| TXRH Texas Roadhouse Inc. | Reduce -80.1% | 0.03% | −0.10 |
| CNC Centene Corp. | Reduce -32.4% | 0.11% | −0.10 |
| CSX CSX Corp. | Reduce -94.6% | 0.01% | −0.09 |
| AWK American Water Works Co. Inc. | Reduce -6.4% | 0.30% | −0.09 |
| GPN Global Payments Inc. | Reduce -4.3% | 0.20% | −0.09 |
| UNH Unitedhealth Group Inc. | Reduce -34.6% | 0.04% | −0.09 |
| SJM The JM Smucker Co. | Reduce -7.3% | 0.17% | −0.08 |
| SYK Stryker Corp. | Reduce -11.1% | 0.41% | −0.08 |
| ACN Accenture PLC Class A | Reduce -25.5% | 0.14% | −0.08 |
| PGR Progressive Corp. | Reduce -0.6% | 0.34% | −0.08 |
| ECL Ecolab Inc. | Reduce -10.6% | 0.40% | −0.08 |
| TTD Trade Desk Inc./the Class A | Reduce -94.3% | 0.01% | −0.08 |
| VRSN Verisign Inc. | Reduce -82.7% | 0.02% | −0.07 |
| KO The Coca-Cola Co. | Reduce -0.7% | 0.43% | −0.07 |
| SFM Sprouts Farmers Market Inc. | Reduce -17.7% | 0.26% | −0.07 |
| MDT Medtronic PLC | Reduce -31.0% | 0.10% | −0.07 |
| CMI Cummins Inc. | Reduce -21.9% | 0.19% | −0.07 |
| MRSH Marsh & McLennan Cos | Reduce -15.5% | 0.13% | −0.07 |
| KVUE Kenvue Inc. | Reduce -94.0% | 0.00% | −0.07 |
| ADP Automatic Data Processing | Reduce -2.3% | 0.42% | −0.07 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +3.0% | 5.53% | +1.47 |
| MSFT Microsoft Corp. | Add +1.5% | 6.52% | +1.10 |
| AVGO Broadcom Inc. | Add +13.8% | 1.74% | +0.71 |
| TT Trane Technologies PLC | Add +89.2% | 0.99% | +0.53 |
| ANET Arista Networks Inc. | Add +193.3% | 0.67% | +0.48 |
| LRCX Lam Research Corp. | Add +34.1% | 0.95% | +0.36 |
| META Meta Platforms Inc. Class A | Add +10.8% | 1.60% | +0.35 |
| NFLX Netflix Inc. | Add +7.8% | 1.17% | +0.32 |
| UBER Uber Technologies Inc. | Add +105.9% | 0.47% | +0.27 |
| VRT Vertiv Holdings Co. Class A | Add +100.1% | 0.39% | +0.26 |
| EMR Emerson Electric Co. | Add +19.5% | 1.14% | +0.25 |
| NOW ServiceNow Inc. | Add +16.7% | 0.85% | +0.23 |
| BKNG Booking Holdings Inc. | Add +9.5% | 1.20% | +0.23 |
| PLTR Palantir Technologies Inc. Class A | Add +116.8% | 0.32% | +0.22 |
| INTU Intuit Inc. | Add +30.6% | 0.64% | +0.21 |
| MRVL Marvell Technology Inc. | Add +48.3% | 0.52% | +0.21 |
| RRX Regal Rexnord Corp. | New | 0.21% | +0.21 |
| DASH DoorDash Inc. Class A | Add +25.4% | 0.58% | +0.20 |
| CEG Constellation Energy | Add +30.9% | 0.41% | +0.19 |
| RDDT Reddit Inc. Class A | Add +21703.0% | 0.15% | +0.15 |
| HWM Howmet Aerospace Inc. | Add +1340.2% | 0.15% | +0.14 |
| SPSC SPS Commerce Inc. | Add +505.3% | 0.16% | +0.13 |
| DIS The Walt Disney Co. | Add +53.0% | 0.32% | +0.13 |
| MU Micron Technology Inc. | Add +377.0% | 0.16% | +0.13 |
| TWLO Twilio Inc. Class A | Add +4231.2% | 0.13% | +0.13 |
| CGNX Cognex Corp. | Add +148.5% | 0.21% | +0.12 |
| KLAC KLA Corp. | Add +55.5% | 0.25% | +0.11 |
| GOOGL Alphabet Inc. Class A | Add +3.0% | 2.12% | +0.11 |
| GEV GE Vernova Inc. | Add +870.1% | 0.12% | +0.11 |
| EME Emcor Group Inc. | Add +63.8% | 0.20% | +0.10 |
| TEAM Atlassian Corp. Class A | Add +1169.0% | 0.11% | +0.10 |
| GOOG Alphabet Inc. Class C | Add +6.5% | 1.27% | +0.10 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +3.6% | 0.38% | +0.10 |
| LH Labcorp Holdings Inc. | Add +28.1% | 0.44% | +0.10 |
| APH Amphenol Corp. Class A | Add +1068.3% | 0.10% | +0.10 |
| TEL Te Connectivity PLC | Add +54.4% | 0.25% | +0.10 |
| IBM Intl Business Machines Corp. | Add +449.3% | 0.11% | +0.09 |
| RGA Reinsurance Group of America | Add +534.1% | 0.10% | +0.09 |
| WAB Wabtec Corp. | Add +33.4% | 0.31% | +0.08 |
| GILD Gilead Sciences Inc. | Add +39.8% | 0.41% | +0.07 |
| URI United Rentals Inc. | Add +6.4% | 0.52% | +0.07 |
| STLD Steel Dynamics Inc. | Add +43.3% | 0.25% | +0.06 |
| DOC Healthpeak Properties Inc. | Add +7444.0% | 0.06% | +0.06 |
| TSM Taiwan Semiconductor-SP ADR | Add +16.2% | 0.21% | +0.06 |
| EQIX Equinix Inc. | Add +44.7% | 0.33% | +0.06 |
| ALGN Align Technology Inc. | Add +94.5% | 0.11% | +0.06 |
| USB US Bancorp | Add +192.0% | 0.08% | +0.05 |
| AXP American Express Co. | Add +2.2% | 0.67% | +0.05 |
| AMAT Applied Materials Inc. | Add +2.1% | 0.40% | +0.05 |
| SYF Synchrony Financial | Add +8.7% | 0.26% | +0.05 |
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 |