Pictet Asset Management Holding SA
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 5, 2025), Pictet Asset Management Holding SA reported 2,008 stock positions worth $90.0 billion. Its top holding was Nvidia (NVDA) at 2.8% of the portfolio, followed by Microsoft (MSFT, 2.6%) and Apple (AAPL, 2.0%). Compared with Q4 2024, it opened 58 new positions, sold out of 92, added to 1,060 and reduced 623. The biggest buy was Mastercard Class A (MA, shares +55%) and the biggest sale Alphabet Class A (GOOGL, shares −9%).
- Most Recent 13F
- Q2 2026
- Location
- CAROUGE, V8
- CIK
- 0001993888
- Portfolio Value
- $90.0B (Q1 2025)
- SEC Filing
- 0001993888-25-000007 ↗ filed May 5, 2025
Holdings Value
Holdings 2,008 stocks · $90.0B
| NVDA Nvidia Corp. | 2.82% | 23,388,807 | $2.5B | Add +3.3% |
| MSFT Microsoft Corp. | 2.58% | 6,192,420 | $2.3B | Reduce -1.3% |
| AAPL Apple Inc. | 1.98% | 8,033,962 | $1.8B | Reduce -3.0% |
| RSG Republic Services Inc. | 1.63% | 6,055,818 | $1.5B | Reduce -3.3% |
| TMO Thermo Fisher Scientific Inc. | 1.59% | 2,879,274 | $1.4B | Add +7.2% |
| AMZN Amazon.com Inc. | 1.57% | 7,450,329 | $1.4B | Reduce -4.7% |
| GOOGL Alphabet Inc. Class A | 1.57% | 9,159,751 | $1.4B | Reduce -9.2% |
| AVGO Broadcom Inc. | 1.24% | 6,650,857 | $1.1B | Add +28.9% |
| META Meta Platforms Inc. Class A | 1.22% | 1,907,249 | $1.1B | Reduce -2.9% |
| KLAC KLA Corp. | 1.20% | 1,586,781 | $1.1B | Add +9.1% |
| UBS UBS Group AG-Reg | 1.20% | 35,428,808 | $1.1B | Add +1.3% |
| SNPS Synopsys Inc. | 1.16% | 2,432,596 | $1.0B | Add +38.3% |
| ECL Ecolab Inc. | 1.15% | 4,089,226 | $1.0B | Add +2.3% |
| V Visa Inc. Class A | 1.06% | 2,719,509 | $952.8M | Add +1.4% |
| CRM Salesforce Inc. | 1.02% | 3,427,566 | $919.9M | Reduce -4.9% |
| WCN Waste Connections Inc. | 1.01% | 4,674,486 | $912.4M | Reduce -14.0% |
| EQIX Equinix Inc. | 0.96% | 1,059,058 | $863.4M | Reduce -2.5% |
| NXPI NXP Semiconductors NV | 0.95% | 4,519,132 | $858.9M | Add +10.6% |
| WM Waste Management Inc. | 0.83% | 3,237,047 | $749.4M | Reduce -7.1% |
| MA Mastercard Inc. Class A | 0.83% | 1,362,081 | $746.5M | Add +54.7% |
| UNH Unitedhealth Group Inc. | 0.74% | 1,278,950 | $669.8M | Add +22.9% |
| AWK American Water Works Co. Inc. | 0.74% | 4,532,131 | $668.6M | Add +24.1% |
| INTU Intuit Inc. | 0.72% | 1,053,197 | $646.6M | Add +55.5% |
| TT Trane Technologies PLC | 0.72% | 1,915,630 | $645.3M | Add +27.3% |
| ROP Roper Technologies Inc. | 0.71% | 1,083,549 | $638.6M | Add +23.3% |
| FISV Fiserv Inc. | 0.71% | 2,878,455 | $635.3M | Add +29.4% |
| A Agilent Technologies Inc. | 0.69% | 5,341,870 | $624.9M | Add +2.5% |
| XYL Xylem Inc. | 0.68% | 5,092,667 | $608.4M | Reduce -4.9% |
| PANW Palo Alto Networks Inc. | 0.65% | 3,453,146 | $589.4M | Add +4.2% |
| LRCX Lam Research Corp. | 0.65% | 8,096,940 | $588.6M | Add +2.9% |
| FERG Ferguson Enterprises Inc. | 0.65% | 3,635,707 | $582.5M | Add +29.6% |
| LLY Eli Lilly & Co. | 0.64% | 696,614 | $575.3M | Add +5.2% |
| NEE Nextera Energy Inc. | 0.62% | 7,901,833 | $560.1M | Reduce -19.3% |
| NFLX Netflix Inc. | 0.59% | 566,509 | $528.3M | Reduce -4.7% |
| CDNS Cadence Design SYS Inc. | 0.58% | 2,040,241 | $518.9M | Reduce -18.2% |
| AMD Advanced Micro Devices | 0.58% | 5,044,996 | $518.3M | Add +7.2% |
| GFL GFL Environmental Inc.-Sub VT | 0.56% | 10,471,414 | $505.9M | Reduce -3.4% |
| TSLA Tesla Inc. | 0.56% | 1,933,645 | $501.1M | Reduce -15.2% |
| GOOG Alphabet Inc. Class C | 0.54% | 3,099,413 | $484.2M | Add +0.9% |
| MRVL Marvell Technology Inc. | 0.53% | 7,776,196 | $478.8M | Add +6.7% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.53% | 1,340,005 | $472.6M | Add +11.1% |
| AMAT Applied Materials Inc. | 0.51% | 3,157,792 | $458.3M | Reduce -8.4% |
| HD Home Depot Inc. | 0.50% | 1,240,090 | $454.5M | Add +18.1% |
| ISRG Intuitive Surgical Inc. | 0.50% | 916,316 | $453.8M | Reduce -7.4% |
| BSX Boston Scientific Corp. | 0.50% | 4,464,372 | $450.2M | Add +23.4% |
| DLR Digital Realty Trust Inc. | 0.50% | 3,129,819 | $448.4M | Add +41.5% |
| PTC PTC Inc. | 0.50% | 2,876,333 | $445.7M | Add +41.6% |
| ZTS Zoetis Inc. | 0.49% | 2,671,742 | $439.9M | Add +33.5% |
| ACM Aecom | 0.48% | 4,642,124 | $430.5M | Reduce -10.7% |
| TTEK Tetra Tech Inc. | 0.47% | 14,502,940 | $424.2M | Add +3.5% |
| VLTO Veralto Corp. | 0.47% | 4,333,797 | $422.3M | Reduce -9.1% |
| PNR Pentair PLC | 0.45% | 4,609,570 | $403.2M | Reduce -1.7% |
| PH Parker Hannifin Corp. | 0.44% | 652,144 | $396.4M | Add +17.1% |
| ETN Eaton Corp. PLC | 0.43% | 1,439,461 | $391.3M | Reduce -12.2% |
| ALC Alcon Inc. filed as ALCON AG | 0.43% | 4,129,152 | $388.4M | Reduce -0.7% |
| XEL Xcel Energy Inc. | 0.43% | 5,454,703 | $386.1M | Add +11.8% |
| WDAY Workday Inc. Class A | 0.43% | 1,641,639 | $383.4M | Reduce -21.3% |
| CNM Core & Main Inc. Class A | 0.42% | 7,857,071 | $379.6M | Reduce -1.9% |
| EXC Exelon Corp. | 0.40% | 7,859,724 | $362.2M | Add +2.0% |
| GILD Gilead Sciences Inc. | 0.40% | 3,177,669 | $355.8M | Reduce -1.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.39% | 665,185 | $354.3M | Reduce -9.6% |
| LIN Linde PLC | 0.39% | 758,419 | $353.2M | Reduce -12.7% |
| STN Stantec Inc. | 0.39% | 4,222,388 | $349.9M | Reduce -19.2% |
| BKNG Booking Holdings Inc. | 0.39% | 75,394 | $347.4M | Reduce -2.2% |
| ESTC Elastic NV | 0.39% | 3,893,928 | $347.0M | Add +13.5% |
| WMS Advanced Drainage Systems Inc. | 0.38% | 3,183,004 | $345.8M | Add +1.7% |
| CTAS Cintas Corp. | 0.38% | 1,679,623 | $345.2M | Add +9.3% |
| CLH Clean Harbors Inc. | 0.38% | 1,733,837 | $341.7M | Add +4.6% |
| JPM JPMorgan Chase & Co. | 0.38% | 1,392,751 | $341.6M | Add +0.2% |
| PCG P G & E Corp. | 0.38% | 19,769,852 | $339.6M | Add +13.7% |
| ZS Zscaler Inc. | 0.38% | 1,709,321 | $339.4M | Add +5.6% |
| ADSK Autodesk Inc. | 0.38% | 1,290,670 | $337.9M | Reduce -22.7% |
| SO The Southern Co. | 0.37% | 3,646,793 | $335.3M | Add +36.1% |
| CNP Centerpoint Energy Inc. | 0.37% | 9,238,918 | $334.7M | Reduce -7.0% |
| MU Micron Technology Inc. | 0.37% | 3,829,233 | $332.8M | Add +1.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.36% | 661,187 | $322.0M | Add +27.2% |
| DT Dynatrace Inc. | 0.35% | 6,747,417 | $318.2M | Reduce -4.0% |
| SNOW Snowflake Inc. | 0.35% | 2,172,370 | $317.6M | Add +26.3% |
| ADI Analog Devices Inc. | 0.33% | 1,495,021 | $301.5M | Add +8.4% |
| MELI MercadoLibre Inc. | 0.33% | 152,000 | $296.7M | Add +3.5% |
| FTNT Fortinet Inc. | 0.33% | 3,072,639 | $295.8M | Add +6.3% |
| UBER Uber Technologies Inc. | 0.32% | 3,983,006 | $290.2M | Add +26.6% |
| FBIN Fortune Brands Innovations I | 0.32% | 4,763,551 | $290.0M | Reduce -0.9% |
| HUBS HubSpot Inc. | 0.32% | 503,480 | $287.7M | Add +16.6% |
| CARR Carrier Global Corp. | 0.32% | 4,496,464 | $285.1M | Reduce -26.1% |
| AMGN Amgen Inc. | 0.31% | 910,007 | $282.3M | Add +47.0% |
| BLD Topbuild Corp. | 0.31% | 915,516 | $279.2M | Add +5.0% |
| ANSS Ansys Inc. | 0.30% | 866,443 | $274.3M | Add +4.4% |
| CYBR Cyberark Software Ltd./Israel | 0.30% | 808,883 | $273.4M | Reduce -7.9% |
| VEEV Veeva Systems Inc. Class A | 0.30% | 1,177,678 | $272.8M | Reduce -13.5% |
| SRE Sempra | 0.30% | 3,817,517 | $272.4M | Reduce -1.4% |
| PG The Procter & Gamble Co. | 0.30% | 1,588,120 | $270.6M | Reduce -8.8% |
| IEX Idex Corp. | 0.30% | 1,474,267 | $266.8M | Reduce -9.0% |
| WTRG Essential Utilities Inc. | 0.29% | 6,532,599 | $258.2M | Reduce -2.9% |
| POOL Pool Corp. | 0.28% | 796,427 | $253.5M | Add +25.2% |
| STE Steris PLC | 0.28% | 1,114,545 | $252.5M | Reduce -1.5% |
| CEG Constellation Energy | 0.28% | 1,250,910 | $252.2M | Add +7.4% |
| AXP American Express Co. | 0.28% | 924,299 | $248.7M | Reduce -7.5% |
| JCI Johnson Controls Internation | 0.26% | 2,942,580 | $235.7M | Add +13.6% |
| JNJ Johnson & Johnson | 0.26% | 1,419,428 | $235.4M | Reduce -0.2% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | 1,613,000 | $1.2M | No change |
Total filed on the 13F, all lines: $90.0B.
Portfolio Sells Q4 2024 → Q1 2025
| GOOGL Alphabet Inc. Class A | Reduce -9.2% | 1.57% | −0.49 |
| TSLA Tesla Inc. | Reduce -15.2% | 0.56% | −0.44 |
| CRM Salesforce Inc. | Reduce -4.9% | 1.02% | −0.28 |
| AMZN Amazon.com Inc. | Reduce -4.7% | 1.57% | −0.28 |
| MSFT Microsoft Corp. | Reduce -1.3% | 2.58% | −0.27 |
| AAPL Apple Inc. | Reduce -3.0% | 1.98% | −0.26 |
| CDNS Cadence Design SYS Inc. | Reduce -18.2% | 0.58% | −0.23 |
| LULU Lululemon Athletica Inc. | Reduce -29.7% | 0.20% | −0.17 |
| ADSK Autodesk Inc. | Reduce -22.7% | 0.38% | −0.16 |
| WDAY Workday Inc. Class A | Reduce -21.3% | 0.43% | −0.16 |
| ILMN Illumina Inc. | Reduce -82.7% | 0.02% | −0.15 |
| ETN Eaton Corp. PLC | Reduce -12.2% | 0.43% | −0.15 |
| ON On Semiconductor | Reduce -14.1% | 0.20% | −0.15 |
| EQIX Equinix Inc. | Reduce -2.5% | 0.96% | −0.15 |
| NEE Nextera Energy Inc. | Reduce -19.3% | 0.62% | −0.14 |
| ITCI Intra-Cellular Therapies Inc. | Reduce -97.3% | 0.01% | −0.13 |
| CARR Carrier Global Corp. | Reduce -26.1% | 0.32% | −0.13 |
| ACM Aecom | Reduce -10.7% | 0.48% | −0.12 |
| FIVN FIVE9 Inc. | Reduce -13.4% | 0.17% | −0.12 |
| BSY Bentley Systems Inc. Class B | Reduce -30.6% | 0.17% | −0.11 |
| ALLE Allegion PLC | Reduce -53.7% | 0.09% | −0.10 |
| AMAT Applied Materials Inc. | Reduce -8.4% | 0.51% | −0.10 |
| EFX Equifax Inc. | Reduce -48.3% | 0.09% | −0.09 |
| SRPT Sarepta Therapeutics Inc. | Reduce -10.4% | 0.07% | −0.07 |
| IEX Idex Corp. | Reduce -9.0% | 0.30% | −0.07 |
| GEN Gen Digital Inc. | Reduce -38.1% | 0.11% | −0.07 |
| WAB Wabtec Corp. | Reduce -74.0% | 0.02% | −0.07 |
| ORCL Oracle Corp. | Reduce -23.9% | 0.12% | −0.06 |
| SRE Sempra | Reduce -1.4% | 0.30% | −0.06 |
| PNR Pentair PLC | Reduce -1.7% | 0.45% | −0.06 |
| VRT Vertiv Holdings Co. Class A | Reduce 0.0% | 0.12% | −0.06 |
| VRSK Verisk Analytics Inc. | Reduce -76.2% | 0.02% | −0.06 |
| DT Dynatrace Inc. | Reduce -4.0% | 0.35% | −0.06 |
| APTV Aptiv PLC | Reduce -52.5% | 0.05% | −0.06 |
| AVTR Avantor Inc. | Reduce -21.4% | 0.09% | −0.06 |
| MRNA Moderna Inc. | Reduce -61.5% | 0.02% | −0.06 |
| PEG Public Service Enterprise GP | Reduce -23.1% | 0.19% | −0.06 |
| VLTO Veralto Corp. | Reduce -9.1% | 0.47% | −0.05 |
| STN Stantec Inc. | Reduce -19.2% | 0.39% | −0.05 |
| ISRG Intuitive Surgical Inc. | Reduce -7.4% | 0.50% | −0.05 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Sold out | 0.00% | −0.05 |
| SHOP Shopify Inc. Class A | Reduce -13.3% | 0.20% | −0.05 |
| PCTY Paylocity Holding Corp. | Reduce -48.8% | 0.05% | −0.05 |
| ROK Rockwell Automation Inc. | Reduce -19.8% | 0.14% | −0.05 |
| IVV iShares Core S&P 500 ETF | Reduce -56.7% | 0.03% | −0.05 |
| TENB Tenable Holdings Inc. | Reduce -98.2% | 0.00% | −0.05 |
| AXP American Express Co. | Reduce -7.5% | 0.28% | −0.04 |
| MAR Marriott International Class A | Reduce -6.6% | 0.20% | −0.04 |
| UNP Union Pacific Corp. | Reduce -34.0% | 0.10% | −0.04 |
| NBIX Neurocrine Biosciences Inc. | Reduce -36.6% | 0.05% | −0.04 |
Portfolio Buys Q4 2024 → Q1 2025
| MA Mastercard Inc. Class A | Add +54.7% | 0.83% | +0.33 |
| INTU Intuit Inc. | Add +55.5% | 0.72% | +0.26 |
| AWK American Water Works Co. Inc. | Add +24.1% | 0.74% | +0.25 |
| SNPS Synopsys Inc. | Add +38.3% | 1.16% | +0.24 |
| ROP Roper Technologies Inc. | Add +23.3% | 0.71% | +0.22 |
| FISV Fiserv Inc. | Add +29.4% | 0.71% | +0.21 |
| KLAC KLA Corp. | Add +9.1% | 1.20% | +0.21 |
| UNH Unitedhealth Group Inc. | Add +22.9% | 0.74% | +0.18 |
| BSX Boston Scientific Corp. | Add +23.4% | 0.50% | +0.15 |
| V Visa Inc. Class A | Add +1.4% | 1.06% | +0.14 |
| ECL Ecolab Inc. | Add +2.3% | 1.15% | +0.14 |
| AMGN Amgen Inc. | Add +47.0% | 0.31% | +0.14 |
| ZTS Zoetis Inc. | Add +33.5% | 0.49% | +0.14 |
| SO The Southern Co. | Add +36.1% | 0.37% | +0.13 |
| PWR Quanta Services Inc. | Add +518.0% | 0.16% | +0.13 |
| VRTX Vertex Pharmaceuticals Inc. | Add +27.2% | 0.36% | +0.13 |
| FERG Ferguson Enterprises Inc. | Add +29.6% | 0.65% | +0.12 |
| UBER Uber Technologies Inc. | Add +26.6% | 0.32% | +0.12 |
| TT Trane Technologies PLC | Add +27.3% | 0.72% | +0.12 |
| CVLT Commvault Systems Inc. | Add +10056.7% | 0.11% | +0.11 |
| AAON Aaon Inc. | Add +12021.9% | 0.11% | +0.10 |
| CPRT Copart Inc. | Add +100.2% | 0.19% | +0.10 |
| CSL Carlisle Cos Inc. | Add +1069.2% | 0.11% | +0.10 |
| GRMN Garmin Ltd. | Add +67.2% | 0.22% | +0.10 |
| SFM Sprouts Farmers Market Inc. | Add +97.0% | 0.16% | +0.09 |
| PTC PTC Inc. | Add +41.6% | 0.50% | +0.09 |
| EXC Exelon Corp. | Add +2.0% | 0.40% | +0.09 |
| OKTA Okta Inc. | Add +57.2% | 0.17% | +0.09 |
| LLY Eli Lilly & Co. | Add +5.2% | 0.64% | +0.09 |
| TMO Thermo Fisher Scientific Inc. | Add +7.2% | 1.59% | +0.08 |
| CTAS Cintas Corp. | Add +9.3% | 0.38% | +0.08 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +11.1% | 0.53% | +0.08 |
| CSCO Cisco Systems Inc. | Add +33.3% | 0.26% | +0.08 |
| DLR Digital Realty Trust Inc. | Add +41.5% | 0.50% | +0.07 |
| IBN Icici Bank Ltd.-Spon ADR | Add +492.9% | 0.09% | +0.07 |
| XEL Xcel Energy Inc. | Add +11.8% | 0.43% | +0.07 |
| SNOW Snowflake Inc. | Add +26.3% | 0.35% | +0.07 |
| HD Home Depot Inc. | Add +18.1% | 0.50% | +0.06 |
| UGI Ugi Corp. | Add +81.1% | 0.12% | +0.06 |
| ZS Zscaler Inc. | Add +5.6% | 0.38% | +0.06 |
| ETR Entergy Corp. | Add +15.4% | 0.24% | +0.06 |
| MELI MercadoLibre Inc. | Add +3.5% | 0.33% | +0.06 |
| SPOT Spotify Technology SA | Add +24.4% | 0.16% | +0.06 |
| NTNX Nutanix Inc. Class A | Add +20.8% | 0.20% | +0.06 |
| PH Parker Hannifin Corp. | Add +17.1% | 0.44% | +0.06 |
| MPWR Monolithic Power Systems Inc. | Add +105.2% | 0.11% | +0.06 |
| WAT Waters Corp. | Add +345.7% | 0.07% | +0.06 |
| NET Cloudflare Inc. Class A | Add +42.7% | 0.16% | +0.06 |
| BABA Alibaba Group Holding-SP ADR | Add +109.7% | 0.07% | +0.05 |
| VRNA Verona Pharma Ltd. | New | 0.05% | +0.05 |
Notes & Other Activity Q4 2024 → Q1 2025
| SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) | NOTE 2.625% 2/1 · principal | Sold out | 1,650,000 | $667Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 2,134 | $104.6B | NVDA, GOOGL, AVGO, AAPL, MSFT |
| Q1 2026 | 2,095 | $94.8B | NVDA, MSFT, GOOGL, AVGO, AAPL |
| Q4 2025 | 2,072 | $103.0B | NVDA, MSFT, GOOGL, AAPL, AMZN |
| Q3 2025 | 2,023 | $103.7B | NVDA, MSFT, GOOGL, AAPL, AMZN |
| Q2 2025 | 1,999 | $98.3B | NVDA, MSFT, AVGO, GOOGL, AMZN |
| Q1 2025 | 2,008 | $90.0B | NVDA, MSFT, AAPL, RSG, TMO |
| Q4 2024 | 2,040 | $92.7B | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q3 2024 | 2,015 | $90.9B | NVDA, MSFT, AAPL, GOOGL, TMO |
| Q2 2024 | 1,969 | $87.3B | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q1 2024 | 1,973 | $91.9B | MSFT, NVDA, TMO, AAPL, AMZN |