Nordea Investment Management AB
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 27, 2025), Nordea Investment Management AB reported 845 stock positions worth $114.2 billion. Its top holding was Nvidia (NVDA) at 6.4% of the portfolio, followed by Microsoft (MSFT, 6.4%) and Apple (AAPL, 4.8%). Compared with Q2 2025, it opened 25 new positions, sold out of 41, added to 616 and reduced 199. The biggest buy was Nvidia (NVDA, shares +4%) and the biggest sale United Rentals (URI, shares −83%).
- Most Recent 13F
- Q2 2026
- Location
- STOCKHOLM, V7
- CIK
- 0001218210
- Portfolio Value
- $114.2B (Q3 2025)
- SEC Filing
- 0001218210-25-000019 ↗ filed Oct 27, 2025
Holdings Value
Holdings 845 stocks · $114.2B
| NVDA Nvidia Corp. | 6.44% | 39,377,397 | $7.4B | Add +4.1% |
| MSFT Microsoft Corp. | 6.41% | 14,161,997 | $7.3B | Add +0.1% |
| AAPL Apple Inc. | 4.75% | 21,240,909 | $5.4B | Reduce -4.6% |
| AMZN Amazon.com Inc. | 2.47% | 12,832,514 | $2.8B | Add +14.4% |
| GOOGL Alphabet Inc. Class A | 2.45% | 11,599,981 | $2.8B | Reduce -10.1% |
| AVGO Broadcom Inc. | 1.90% | 6,654,171 | $2.2B | Reduce -2.7% |
| GOOG Alphabet Inc. Class C | 1.73% | 8,160,966 | $2.0B | Add +5.9% |
| META Meta Platforms Inc. Class A | 1.63% | 2,526,263 | $1.9B | Add +8.8% |
| LRCX Lam Research Corp. | 1.33% | 11,312,752 | $1.5B | Add +6.8% |
| CSCO Cisco Systems Inc. | 1.25% | 20,768,169 | $1.4B | Reduce -2.7% |
| MA Mastercard Inc. Class A | 1.17% | 2,352,240 | $1.3B | Reduce -1.4% |
| BKNG Booking Holdings Inc. | 1.04% | 220,849 | $1.2B | Reduce -2.5% |
| NFLX Netflix Inc. | 1.02% | 979,884 | $1.2B | Add +3.7% |
| JNJ Johnson & Johnson | 0.98% | 6,109,861 | $1.1B | Reduce -2.4% |
| TT Trane Technologies PLC | 0.92% | 2,513,508 | $1.1B | Add +2.4% |
| JPM JPMorgan Chase & Co. | 0.91% | 3,345,465 | $1.0B | Add +4.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.89% | 7,058,931 | $1.0B | Reduce -3.9% |
| ABBV Abbvie Inc. | 0.89% | 4,495,558 | $1.0B | Add +0.1% |
| LLY Eli Lilly & Co. | 0.87% | 1,369,997 | $996.4M | Add +5.8% |
| V Visa Inc. Class A | 0.84% | 2,821,352 | $961.9M | Reduce -2.7% |
| EMR Emerson Electric Co. | 0.79% | 6,981,363 | $903.7M | Reduce -24.1% |
| ANET Arista Networks Inc. | 0.78% | 6,182,936 | $892.9M | Reduce -12.5% |
| NOW ServiceNow Inc. | 0.78% | 963,077 | $886.1M | Add +7.5% |
| MRK Merck & Co. Inc. | 0.77% | 10,945,187 | $876.6M | Add +1.9% |
| MCK McKesson Corp. | 0.73% | 1,093,531 | $837.3M | Add +9.9% |
| AMGN Amgen Inc. | 0.70% | 2,874,403 | $794.5M | Add +0.8% |
| AXP American Express Co. | 0.68% | 2,329,851 | $778.4M | Add +2.8% |
| LIN Linde PLC | 0.66% | 1,580,032 | $753.6M | Add +6.1% |
| EBAY eBay Inc. | 0.64% | 8,016,044 | $729.9M | Reduce -11.8% |
| WM Waste Management Inc. | 0.64% | 3,294,461 | $726.4M | Reduce -14.0% |
| C Citigroup Inc. | 0.62% | 7,142,351 | $712.9M | Reduce -0.8% |
| AMD Advanced Micro Devices | 0.55% | 3,905,148 | $631.9M | Add +203.7% |
| TSLA Tesla Inc. | 0.54% | 1,399,001 | $615.6M | Add +2.4% |
| DASH DoorDash Inc. Class A | 0.52% | 2,220,227 | $598.4M | Reduce -13.8% |
| BDX Becton Dickinson and Co. | 0.52% | 3,231,514 | $592.9M | Reduce -4.0% |
| FTNT Fortinet Inc. | 0.51% | 6,922,031 | $586.8M | Add +2.9% |
| HIG Hartford Insurance Group Inc. | 0.50% | 4,307,617 | $570.3M | Add +5.3% |
| INTU Intuit Inc. | 0.49% | 819,955 | $565.1M | Reduce -6.3% |
| CRM Salesforce Inc. | 0.48% | 2,300,371 | $546.5M | Add +1.3% |
| RSG Republic Services Inc. | 0.47% | 2,334,935 | $537.6M | Reduce -13.2% |
| CTAS Cintas Corp. | 0.46% | 2,570,609 | $527.0M | Add +3.0% |
| WFC Wells Fargo & Co. | 0.45% | 6,190,687 | $514.6M | Add +7.0% |
| AMAT Applied Materials Inc. | 0.45% | 2,467,216 | $514.5M | Add +5.9% |
| ADBE Adobe Inc. | 0.44% | 1,409,275 | $500.7M | Reduce -21.9% |
| PANW Palo Alto Networks Inc. | 0.44% | 2,430,115 | $498.1M | Add +2.7% |
| GIS General Mills Inc. | 0.43% | 9,956,665 | $494.5M | Add +15.9% |
| MRVL Marvell Technology Inc. | 0.43% | 5,901,344 | $494.2M | Reduce -18.0% |
| GILD Gilead Sciences Inc. | 0.43% | 4,412,598 | $494.0M | Add +11.5% |
| NEE Nextera Energy Inc. | 0.43% | 6,468,943 | $488.4M | Reduce -17.4% |
| SNPS Synopsys Inc. | 0.42% | 976,023 | $479.6M | Reduce -7.8% |
| TMUS T-Mobile US Inc. | 0.41% | 1,960,784 | $469.4M | Add +2.9% |
| ECL Ecolab Inc. | 0.40% | 1,652,797 | $452.4M | Add +2.5% |
| VLTO Veralto Corp. | 0.39% | 4,194,379 | $442.3M | Reduce -2.1% |
| UBER Uber Technologies Inc. | 0.38% | 4,497,806 | $436.6M | Reduce -17.6% |
| CEG Constellation Energy | 0.38% | 1,325,233 | $435.0M | Reduce -2.8% |
| SNA Snap-on Inc. | 0.38% | 1,258,712 | $433.6M | Add +3.0% |
| LH Labcorp Holdings Inc. | 0.38% | 1,520,932 | $432.4M | Reduce -16.9% |
| KO The Coca-Cola Co. | 0.37% | 6,369,770 | $422.9M | Reduce -2.6% |
| IQV Iqvia Holdings Inc. | 0.37% | 2,314,219 | $421.3M | Add +12.3% |
| CI The Cigna Group | 0.37% | 1,458,222 | $420.8M | Reduce -24.9% |
| PEP Pepsico Inc. | 0.37% | 2,998,209 | $419.9M | Reduce -6.1% |
| HCA HCA Healthcare Inc. | 0.36% | 975,741 | $415.7M | Add +5.2% |
| PLTR Palantir Technologies Inc. Class A | 0.36% | 2,260,519 | $409.5M | Reduce -8.5% |
| SYK Stryker Corp. | 0.36% | 1,101,505 | $405.9M | Reduce -1.7% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.36% | 835,405 | $405.7M | Add +4.4% |
| CL Colgate-Palmolive Co. | 0.35% | 5,063,843 | $404.6M | Reduce -18.2% |
| ZTS Zoetis Inc. | 0.35% | 2,753,209 | $397.0M | Add +16.9% |
| QCOM Qualcomm Inc. | 0.35% | 2,367,971 | $394.3M | Add +3.2% |
| WAB Wabtec Corp. | 0.34% | 1,974,257 | $393.3M | Add +24.0% |
| LKQ LKQ Corp. | 0.34% | 12,766,314 | $385.5M | Add +3.2% |
| IEX Idex Corp. | 0.33% | 2,364,312 | $382.0M | Add +193.6% |
| PG The Procter & Gamble Co. | 0.33% | 2,461,497 | $378.6M | Reduce -6.6% |
| EQIX Equinix Inc. | 0.33% | 483,483 | $376.2M | Add +7.3% |
| VZ Verizon Communications Inc. | 0.33% | 8,599,828 | $374.8M | Reduce -1.5% |
| CRH CRH PLC | 0.33% | 3,132,648 | $374.7M | Reduce -7.0% |
| COR Cencora Inc. | 0.33% | 1,210,644 | $373.8M | Add +4.5% |
| MET Metlife Inc. | 0.32% | 4,512,620 | $367.6M | Add +1.9% |
| NEM Newmont Corp. | 0.32% | 4,336,873 | $366.6M | Add +34.7% |
| TEL Te Connectivity PLC | 0.32% | 1,662,615 | $363.2M | Add +3.5% |
| CGNX Cognex Corp. | 0.32% | 8,025,371 | $361.4M | Add +13.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.31% | 711,352 | $355.7M | Add +6.1% |
| WTRG Essential Utilities Inc. | 0.31% | 8,972,565 | $354.1M | Add +25.5% |
| UPS United Parcel Service Class B | 0.31% | 4,243,806 | $353.9M | Add +17.9% |
| CFG Citizens Financial Group | 0.31% | 6,715,372 | $353.4M | Add +4.9% |
| KHC The Kraft Heinz Co. | 0.31% | 13,694,483 | $351.3M | Add +75.1% |
| MSCI MSCI Inc. | 0.31% | 619,467 | $351.2M | Reduce -3.4% |
| DHR Danaher Corp. | 0.31% | 1,844,686 | $350.1M | Add +4.6% |
| ADP Automatic Data Processing | 0.30% | 1,184,798 | $344.1M | Reduce -19.6% |
| GEV GE Vernova Inc. | 0.30% | 561,213 | $341.0M | Add +136.1% |
| WDAY Workday Inc. Class A | 0.30% | 1,393,596 | $340.2M | Reduce -0.3% |
| VRT Vertiv Holdings Co. Class A | 0.30% | 2,297,311 | $338.9M | Reduce -29.2% |
| PGR Progressive Corp. | 0.29% | 1,369,055 | $335.7M | Reduce -2.3% |
| EW Edwards Lifesciences Corp. | 0.29% | 4,246,964 | $328.5M | Reduce -2.5% |
| STLD Steel Dynamics Inc. | 0.28% | 2,340,480 | $322.5M | Add +12.1% |
| SYF Synchrony Financial | 0.28% | 4,542,336 | $318.2M | Add +7.9% |
| CVS CVS Health Corp. | 0.28% | 4,214,060 | $315.4M | Reduce -2.9% |
| EXC Exelon Corp. | 0.27% | 7,024,249 | $312.5M | Add +1.1% |
| KR Kroger Co. | 0.27% | 4,680,219 | $311.8M | Add +6.0% |
| PNR Pentair PLC | 0.27% | 2,837,753 | $311.0M | Add +173.6% |
| WELL Welltower Inc. | 0.27% | 1,726,577 | $307.1M | Add +7.7% |
Portfolio Sells Q2 2025 → Q3 2025
| URI United Rentals Inc. | Reduce -83.2% | 0.10% | −0.42 |
| EMR Emerson Electric Co. | Reduce -24.1% | 0.79% | −0.34 |
| CDNS Cadence Design SYS Inc. | Reduce -61.4% | 0.21% | −0.30 |
| GTLS Chart Industries Inc. | Sold out | 0.00% | −0.29 |
| CI The Cigna Group | Reduce -24.9% | 0.37% | −0.22 |
| LEN Lennar Corp. Class A | Reduce -98.8% | 0.00% | −0.22 |
| ADBE Adobe Inc. | Reduce -21.9% | 0.44% | −0.21 |
| OC Owens Corning | Reduce -67.0% | 0.09% | −0.19 |
| HD Home Depot Inc. | Reduce -61.2% | 0.13% | −0.19 |
| CAG Conagra Brands Inc. | Reduce -90.2% | 0.02% | −0.18 |
| WM Waste Management Inc. | Reduce -14.0% | 0.64% | −0.17 |
| ELV Elevance Health Inc. | Reduce -48.6% | 0.11% | −0.17 |
| CL Colgate-Palmolive Co. | Reduce -18.2% | 0.35% | −0.16 |
| BKNG Booking Holdings Inc. | Reduce -2.5% | 1.04% | −0.16 |
| SJM The JM Smucker Co. | Reduce -93.8% | 0.01% | −0.15 |
| ROP Roper Technologies Inc. | Reduce -96.5% | 0.00% | −0.15 |
| A Agilent Technologies Inc. | Reduce -41.5% | 0.21% | −0.15 |
| INTU Intuit Inc. | Reduce -6.3% | 0.49% | −0.14 |
| RSG Republic Services Inc. | Reduce -13.2% | 0.47% | −0.14 |
| CSCO Cisco Systems Inc. | Reduce -2.7% | 1.25% | −0.12 |
| SYY Sysco Corp. | Reduce -54.5% | 0.10% | −0.12 |
| ADP Automatic Data Processing | Reduce -19.6% | 0.30% | −0.11 |
| V Visa Inc. Class A | Reduce -2.7% | 0.84% | −0.10 |
| CNC Centene Corp. | Reduce -90.5% | 0.01% | −0.10 |
| SFM Sprouts Farmers Market Inc. | Reduce -1.8% | 0.16% | −0.10 |
| PH Parker Hannifin Corp. | Reduce -86.6% | 0.01% | −0.10 |
| CMCSA Comcast Corp. Class A | Reduce -28.4% | 0.14% | −0.09 |
| IBM Intl Business Machines Corp. | Reduce -78.5% | 0.02% | −0.09 |
| VRT Vertiv Holdings Co. Class A | Reduce -29.2% | 0.30% | −0.09 |
| ROST Ross Stores Inc. | Reduce -94.2% | 0.01% | −0.09 |
| CMI Cummins Inc. | Reduce -56.4% | 0.10% | −0.09 |
| UBER Uber Technologies Inc. | Reduce -17.6% | 0.38% | −0.09 |
| SPGI S&P Global Inc. | Reduce -14.2% | 0.27% | −0.09 |
| SNPS Synopsys Inc. | Reduce -7.8% | 0.42% | −0.09 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -48.3% | 0.13% | −0.08 |
| MRVL Marvell Technology Inc. | Reduce -18.0% | 0.43% | −0.08 |
| MNST Monster Beverage Corp. | Reduce -64.2% | 0.05% | −0.08 |
| T AT&T Inc. | Reduce -47.4% | 0.07% | −0.08 |
| AZO AutoZone Inc. | Reduce -36.3% | 0.19% | −0.08 |
| DIS The Walt Disney Co. | Reduce -10.3% | 0.25% | −0.07 |
| KLAC KLA Corp. | Reduce -36.7% | 0.18% | −0.07 |
| DOW Dow Inc. | Reduce -97.4% | 0.00% | −0.07 |
| NEE Nextera Energy Inc. | Reduce -17.4% | 0.43% | −0.07 |
| CAT Caterpillar Inc. | Reduce -38.8% | 0.16% | −0.07 |
| LH Labcorp Holdings Inc. | Reduce -16.9% | 0.38% | −0.06 |
| MDT Medtronic PLC | Reduce -61.8% | 0.04% | −0.06 |
| DOC Healthpeak Properties Inc. | Reduce -98.4% | 0.00% | −0.06 |
| MA Mastercard Inc. Class A | Reduce -1.4% | 1.17% | −0.06 |
| DASH DoorDash Inc. Class A | Reduce -13.8% | 0.52% | −0.06 |
| GWW WW Grainger Inc. | Reduce -59.9% | 0.03% | −0.06 |
Portfolio Buys Q2 2025 → Q3 2025
| NVDA Nvidia Corp. | Add +4.1% | 6.44% | +0.92 |
| GOOG Alphabet Inc. Class C | Add +5.9% | 1.73% | +0.46 |
| AMD Advanced Micro Devices | Add +203.7% | 0.55% | +0.38 |
| LRCX Lam Research Corp. | Add +6.8% | 1.33% | +0.37 |
| APTV Aptiv PLC | Add +14336.5% | 0.26% | +0.25 |
| ZBRA Zebra Technologies Corp. Class A | Add +1826.5% | 0.26% | +0.24 |
| IEX Idex Corp. | Add +193.6% | 0.33% | +0.20 |
| JCI Johnson Controls Internation | Add +1545.8% | 0.20% | +0.19 |
| GEV GE Vernova Inc. | Add +136.1% | 0.30% | +0.18 |
| PNR Pentair PLC | Add +173.6% | 0.27% | +0.17 |
| AMZN Amazon.com Inc. | Add +14.4% | 2.47% | +0.17 |
| NEM Newmont Corp. | Add +34.7% | 0.32% | +0.15 |
| GE General Electric | Add +648.2% | 0.16% | +0.14 |
| TSLA Tesla Inc. | Add +2.4% | 0.54% | +0.13 |
| KHC The Kraft Heinz Co. | Add +75.1% | 0.31% | +0.12 |
| ABBV Abbvie Inc. | Add +0.1% | 0.89% | +0.11 |
| VRTX Vertex Pharmaceuticals Inc. | Add +1373.1% | 0.12% | +0.11 |
| RCL Royal Caribbean Cruises Ltd. | Add +253.7% | 0.16% | +0.11 |
| CGNX Cognex Corp. | Add +13.4% | 0.32% | +0.11 |
| MU Micron Technology Inc. | Add +30.4% | 0.27% | +0.11 |
| CLH Clean Harbors Inc. | New | 0.10% | +0.10 |
| HWM Howmet Aerospace Inc. | Add +59.2% | 0.24% | +0.09 |
| TRV The Travelers Cos Inc. | Add +1641.3% | 0.09% | +0.09 |
| APP AppLovin Corp. Class A | Add +7.5% | 0.14% | +0.07 |
| RDDT Reddit Inc. Class A | Add +4.1% | 0.22% | +0.07 |
| BLD Topbuild Corp. | Add +228.7% | 0.09% | +0.07 |
| TEL Te Connectivity PLC | Add +3.5% | 0.32% | +0.07 |
| IQV Iqvia Holdings Inc. | Add +12.3% | 0.37% | +0.07 |
| DE Deere & Co. | Add +71.4% | 0.21% | +0.07 |
| WTRG Essential Utilities Inc. | Add +25.5% | 0.31% | +0.07 |
| IOT Samsara Inc. Class A | Add +9044.6% | 0.07% | +0.07 |
| MCK McKesson Corp. | Add +9.9% | 0.73% | +0.06 |
| ABM Abm Industries Inc. | Add +1068.7% | 0.06% | +0.06 |
| VST Vistra Corp. | Add +1973.0% | 0.06% | +0.06 |
| DLTR Dollar Tree Inc. | Add +2267.8% | 0.06% | +0.06 |
| DLR Digital Realty Trust Inc. | Add +713.8% | 0.07% | +0.06 |
| AMAT Applied Materials Inc. | Add +5.9% | 0.45% | +0.05 |
| MAS Masco Corp. | Add +24.0% | 0.25% | +0.05 |
| MNDY Monday.com Ltd. | Add +2501.5% | 0.06% | +0.05 |
| ROK Rockwell Automation Inc. | Add +34.3% | 0.19% | +0.05 |
| JPM JPMorgan Chase & Co. | Add +4.4% | 0.91% | +0.05 |
| TMO Thermo Fisher Scientific Inc. | Add +180.2% | 0.07% | +0.05 |
| SBAC SBA Communications Corp. | Add +65.0% | 0.20% | +0.05 |
| FFIV F5 Inc. | Add +217.7% | 0.06% | +0.04 |
| PRI Primerica Inc. | New | 0.04% | +0.04 |
| RRX Regal Rexnord Corp. | Add +30.7% | 0.25% | +0.04 |
| WK Workiva Inc. | Add +50.7% | 0.10% | +0.04 |
| AKAM Akamai Technologies Inc. | Add +39.9% | 0.23% | +0.04 |
| WELL Welltower Inc. | Add +7.7% | 0.27% | +0.04 |
| ALL Allstate Corp. | Add +196.3% | 0.06% | +0.04 |
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 |