Pictet Asset Management Holding SA
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Pictet Asset Management Holding SA reported 1,999 stock positions worth $98.3 billion. Its top holding was Nvidia (NVDA) at 4.0% of the portfolio, followed by Microsoft (MSFT, 3.3%) and Broadcom (AVGO, 1.9%). Compared with Q1 2025, it opened 68 new positions, sold out of 78, added to 733 and reduced 968. The biggest buy was Nvidia (NVDA, shares +6%) and the biggest sale Thermo Fisher Scientific (TMO, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- CAROUGE, V8
- CIK
- 0001993888
- Portfolio Value
- $98.3B (Q2 2025)
- SEC Filing
- 0001993888-25-000015 ↗ filed Aug 13, 2025
Holdings Value
Holdings 1,999 stocks · $98.3B
| NVDA Nvidia Corp. | 3.97% | 24,692,032 | $3.9B | Add +5.6% |
| MSFT Microsoft Corp. | 3.27% | 6,461,039 | $3.2B | Add +4.3% |
| AVGO Broadcom Inc. | 1.89% | 6,756,882 | $1.9B | Add +1.6% |
| GOOGL Alphabet Inc. Class A | 1.88% | 10,510,854 | $1.9B | Add +14.8% |
| AMZN Amazon.com Inc. | 1.78% | 7,966,791 | $1.7B | Add +6.9% |
| AAPL Apple Inc. | 1.75% | 8,398,023 | $1.7B | Add +4.5% |
| META Meta Platforms Inc. Class A | 1.45% | 1,934,405 | $1.4B | Add +1.4% |
| RSG Republic Services Inc. | 1.33% | 5,306,435 | $1.3B | Reduce -12.4% |
| SNPS Synopsys Inc. | 1.32% | 2,525,486 | $1.3B | Add +3.8% |
| KLAC KLA Corp. | 1.23% | 1,349,157 | $1.2B | Reduce -15.0% |
| UBS UBS Group AG-Reg | 1.23% | 35,735,675 | $1.2B | Add +0.9% |
| TMO Thermo Fisher Scientific Inc. | 1.18% | 2,848,437 | $1.2B | Reduce -1.1% |
| ECL Ecolab Inc. | 1.14% | 4,140,993 | $1.1B | Add +1.3% |
| CRM Salesforce Inc. | 1.05% | 3,772,571 | $1.0B | Add +10.1% |
| NXPI NXP Semiconductors NV | 1.01% | 4,554,133 | $994.9M | Add +0.8% |
| V Visa Inc. Class A | 0.96% | 2,646,249 | $939.4M | Reduce -2.7% |
| LRCX Lam Research Corp. | 0.87% | 8,824,976 | $859.0M | Add +9.0% |
| TT Trane Technologies PLC | 0.86% | 1,933,848 | $845.8M | Add +0.9% |
| MA Mastercard Inc. Class A | 0.82% | 1,436,532 | $807.1M | Add +5.5% |
| PANW Palo Alto Networks Inc. | 0.79% | 3,781,352 | $773.6M | Add +9.5% |
| WCN Waste Connections Inc. | 0.78% | 4,090,707 | $763.8M | Reduce -12.5% |
| EQIX Equinix Inc. | 0.77% | 948,429 | $754.4M | Reduce -10.4% |
| FERG Ferguson Enterprises Inc. | 0.75% | 3,365,696 | $732.9M | Reduce -7.4% |
| XYL Xylem Inc. | 0.72% | 5,447,887 | $704.7M | Add +7.0% |
| INTU Intuit Inc. | 0.69% | 857,535 | $675.4M | Reduce -18.6% |
| WM Waste Management Inc. | 0.68% | 2,917,987 | $667.7M | Reduce -9.9% |
| AMD Advanced Micro Devices | 0.65% | 4,497,117 | $638.2M | Reduce -10.9% |
| TSLA Tesla Inc. | 0.64% | 1,988,804 | $631.8M | Add +2.9% |
| NFLX Netflix Inc. | 0.62% | 455,414 | $609.8M | Reduce -19.6% |
| ROP Roper Technologies Inc. | 0.61% | 1,056,894 | $599.0M | Reduce -2.5% |
| CDNS Cadence Design SYS Inc. | 0.59% | 1,869,291 | $576.0M | Reduce -8.4% |
| GOOG Alphabet Inc. Class C | 0.57% | 3,179,010 | $564.0M | Add +2.6% |
| A Agilent Technologies Inc. | 0.57% | 4,772,827 | $563.2M | Reduce -10.7% |
| LLY Eli Lilly & Co. | 0.57% | 715,521 | $557.7M | Add +2.7% |
| FISV Fiserv Inc. | 0.56% | 3,184,459 | $549.0M | Add +10.6% |
| AMAT Applied Materials Inc. | 0.54% | 2,920,633 | $534.7M | Reduce -7.5% |
| PNR Pentair PLC | 0.53% | 5,104,786 | $524.1M | Add +10.7% |
| MRVL Marvell Technology Inc. | 0.53% | 6,726,832 | $520.7M | Reduce -13.5% |
| PH Parker Hannifin Corp. | 0.52% | 732,120 | $511.4M | Add +12.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.52% | 995,260 | $506.7M | Reduce -25.7% |
| PTC PTC Inc. | 0.51% | 2,894,119 | $498.8M | Add +0.6% |
| DLR Digital Realty Trust Inc. | 0.51% | 2,859,159 | $498.3M | Reduce -8.7% |
| TTEK Tetra Tech Inc. | 0.51% | 13,848,101 | $498.0M | Reduce -4.5% |
| AWK American Water Works Co. Inc. | 0.50% | 3,511,657 | $488.5M | Reduce -22.5% |
| ISRG Intuitive Surgical Inc. | 0.50% | 895,898 | $486.8M | Reduce -2.2% |
| VLTO Veralto Corp. | 0.49% | 4,819,537 | $486.5M | Add +11.2% |
| DT Dynatrace Inc. | 0.49% | 8,803,387 | $486.0M | Add +30.5% |
| UNH Unitedhealth Group Inc. | 0.49% | 1,531,430 | $477.7M | Add +19.7% |
| BSX Boston Scientific Corp. | 0.48% | 4,393,459 | $471.8M | Reduce -1.6% |
| NEE Nextera Energy Inc. | 0.48% | 6,739,844 | $467.9M | Reduce -14.7% |
| CNM Core & Main Inc. Class A | 0.47% | 7,725,315 | $466.2M | Reduce -1.7% |
| LIN Linde PLC | 0.47% | 989,209 | $464.1M | Add +30.4% |
| GFL GFL Environmental Inc.-Sub VT | 0.47% | 9,143,945 | $461.4M | Reduce -12.7% |
| CLH Clean Harbors Inc. | 0.45% | 1,912,180 | $442.1M | Add +10.3% |
| ETN Eaton Corp. PLC | 0.45% | 1,229,664 | $439.0M | Reduce -14.6% |
| HD Home Depot Inc. | 0.44% | 1,179,932 | $432.6M | Reduce -4.8% |
| ALC Alcon Inc. filed as ALCON AG | 0.44% | 4,875,423 | $430.0M | Add +18.1% |
| ZTS Zoetis Inc. | 0.43% | 2,687,670 | $419.1M | Add +0.6% |
| ACM Aecom | 0.42% | 3,637,763 | $410.6M | Reduce -21.6% |
| BKNG Booking Holdings Inc. | 0.41% | 68,991 | $399.3M | Reduce -8.5% |
| JPM JPMorgan Chase & Co. | 0.40% | 1,372,090 | $397.8M | Reduce -1.5% |
| STN Stantec Inc. | 0.40% | 3,624,873 | $393.6M | Reduce -14.2% |
| CTAS Cintas Corp. | 0.40% | 1,760,407 | $392.3M | Add +4.8% |
| WDAY Workday Inc. Class A | 0.40% | 1,622,969 | $389.5M | Reduce -1.1% |
| ADSK Autodesk Inc. | 0.38% | 1,213,825 | $375.8M | Reduce -6.0% |
| SRE Sempra | 0.38% | 4,919,274 | $372.7M | Add +28.9% |
| ESTC Elastic NV | 0.37% | 4,349,663 | $366.8M | Add +11.7% |
| SPOT Spotify Technology SA | 0.37% | 476,598 | $365.7M | Add +79.2% |
| SO The Southern Co. | 0.37% | 3,976,531 | $365.2M | Add +9.0% |
| XEL Xcel Energy Inc. | 0.37% | 5,288,882 | $360.2M | Reduce -3.0% |
| NOW ServiceNow Inc. | 0.36% | 347,332 | $357.1M | Add +18.4% |
| ZS Zscaler Inc. | 0.35% | 1,110,930 | $348.8M | Reduce -35.0% |
| SNOW Snowflake Inc. | 0.35% | 1,549,242 | $346.7M | Reduce -28.7% |
| MELI MercadoLibre Inc. | 0.35% | 131,687 | $344.1M | Reduce -13.4% |
| JCI Johnson Controls Internation | 0.35% | 3,243,667 | $342.6M | Add +10.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.34% | 695,089 | $337.7M | Add +4.5% |
| CNP Centerpoint Energy Inc. | 0.34% | 9,171,875 | $337.0M | Reduce -0.7% |
| CEG Constellation Energy | 0.34% | 1,043,992 | $337.0M | Reduce -16.5% |
| CYBR Cyberark Software Ltd./Israel | 0.34% | 827,901 | $336.7M | Add +2.4% |
| VRTX Vertex Pharmaceuticals Inc. | 0.33% | 735,822 | $327.0M | Add +11.3% |
| ADI Analog Devices Inc. | 0.33% | 1,363,036 | $324.4M | Reduce -8.8% |
| EXC Exelon Corp. | 0.33% | 7,445,913 | $323.3M | Reduce -5.3% |
| MU Micron Technology Inc. | 0.33% | 2,593,410 | $319.7M | Reduce -32.3% |
| HUBS HubSpot Inc. | 0.32% | 566,231 | $315.2M | Add +12.5% |
| D Dominion Energy Inc. | 0.32% | 5,490,687 | $310.3M | Add +164.7% |
| FTNT Fortinet Inc. | 0.31% | 2,921,170 | $308.7M | Reduce -4.9% |
| WMS Advanced Drainage Systems Inc. | 0.30% | 2,603,825 | $299.1M | Reduce -18.2% |
| AXP American Express Co. | 0.30% | 932,882 | $297.6M | Add +0.9% |
| GILD Gilead Sciences Inc. | 0.30% | 2,637,119 | $292.2M | Reduce -17.0% |
| CARR Carrier Global Corp. | 0.29% | 3,957,759 | $289.7M | Reduce -12.0% |
| BLD Topbuild Corp. | 0.28% | 842,640 | $272.8M | Reduce -8.0% |
| NET Cloudflare Inc. Class A | 0.27% | 1,377,007 | $269.6M | Add +9.7% |
| VST Vistra Corp. | 0.27% | 1,389,686 | $269.3M | Add +12.2% |
| ACN Accenture PLC Class A | 0.27% | 900,824 | $269.2M | Add +42.7% |
| CSCO Cisco Systems Inc. | 0.27% | 3,860,911 | $267.9M | Add +1.6% |
| UBER Uber Technologies Inc. | 0.27% | 2,869,632 | $267.7M | Reduce -27.9% |
| STE Steris PLC | 0.27% | 1,102,166 | $264.7M | Reduce -1.1% |
| LOGI Logitech International-Reg | 0.27% | 2,928,625 | $262.8M | Add +20.8% |
| PWR Quanta Services Inc. | 0.27% | 691,490 | $261.4M | Add +19.0% |
| VEEV Veeva Systems Inc. Class A | 0.26% | 890,841 | $256.5M | Reduce -24.4% |
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: $98.3B.
Portfolio Sells Q1 2025 → Q2 2025
| TMO Thermo Fisher Scientific Inc. | Reduce -1.1% | 1.18% | −0.42 |
| RSG Republic Services Inc. | Reduce -12.4% | 1.33% | −0.30 |
| AWK American Water Works Co. Inc. | Reduce -22.5% | 0.50% | −0.25 |
| WCN Waste Connections Inc. | Reduce -12.5% | 0.78% | −0.24 |
| BIDU Baidu Inc. - Spon ADR | Reduce -99.0% | 0.00% | −0.22 |
| POOL Pool Corp. | Reduce -66.1% | 0.08% | −0.20 |
| EQIX Equinix Inc. | Reduce -10.4% | 0.77% | −0.19 |
| ANSS Ansys Inc. | Reduce -60.7% | 0.12% | −0.18 |
| IEX Idex Corp. | Reduce -55.2% | 0.12% | −0.18 |
| PCG P G & E Corp. | Reduce -20.9% | 0.22% | −0.16 |
| WM Waste Management Inc. | Reduce -9.9% | 0.68% | −0.15 |
| EIX Edison International | Reduce -54.0% | 0.09% | −0.15 |
| NEE Nextera Energy Inc. | Reduce -14.7% | 0.48% | −0.15 |
| INFA Informatica Inc. Class A | Reduce -99.8% | 0.00% | −0.15 |
| DTE DTE Energy Company | Reduce -51.4% | 0.10% | −0.14 |
| ETR Entergy Corp. | Reduce -45.1% | 0.12% | −0.12 |
| GPN Global Payments Inc. | Reduce -89.4% | 0.01% | −0.12 |
| A Agilent Technologies Inc. | Reduce -10.7% | 0.57% | −0.12 |
| PEG Public Service Enterprise GP | Reduce -61.3% | 0.07% | −0.12 |
| ROK Rockwell Automation Inc. | Reduce -81.3% | 0.03% | −0.11 |
| FBIN Fortune Brands Innovations I | Reduce -13.6% | 0.22% | −0.11 |
| V Visa Inc. Class A | Reduce -2.7% | 0.96% | −0.10 |
| ROP Roper Technologies Inc. | Reduce -2.5% | 0.61% | −0.10 |
| GILD Gilead Sciences Inc. | Reduce -17.0% | 0.30% | −0.10 |
| GFL GFL Environmental Inc.-Sub VT | Reduce -12.7% | 0.47% | −0.09 |
| WEC WEC Energy Group Inc. | Reduce -74.9% | 0.03% | −0.09 |
| AVTR Avantor Inc. | Reduce -93.0% | 0.00% | −0.09 |
| WTRG Essential Utilities Inc. | Reduce -18.3% | 0.20% | −0.09 |
| SWTX Springworks Therapeutics Inc. | Reduce -99.4% | 0.00% | −0.08 |
| WMS Advanced Drainage Systems Inc. | Reduce -18.2% | 0.30% | −0.08 |
| BPMC Blueprint Medicines Corp. | Reduce -87.5% | 0.02% | −0.08 |
| GRMN Garmin Ltd. | Reduce -26.9% | 0.14% | −0.08 |
| EXC Exelon Corp. | Reduce -5.3% | 0.33% | −0.07 |
| HD Home Depot Inc. | Reduce -4.8% | 0.44% | −0.06 |
| SRPT Sarepta Therapeutics Inc. | Reduce -80.9% | 0.00% | −0.06 |
| DKS Dick's Sporting Goods Inc. | Reduce -87.7% | 0.01% | −0.06 |
| XEL Xcel Energy Inc. | Reduce -3.0% | 0.37% | −0.06 |
| LULU Lululemon Athletica Inc. | Reduce -10.0% | 0.14% | −0.06 |
| AMGN Amgen Inc. | Reduce -2.3% | 0.25% | −0.06 |
| ACM Aecom | Reduce -21.6% | 0.42% | −0.06 |
| UBER Uber Technologies Inc. | Reduce -27.9% | 0.27% | −0.05 |
| LNT Alliant Energy Corp. | Reduce -7.2% | 0.19% | −0.05 |
| CNH CNH Industrial NV | Reduce -66.0% | 0.02% | −0.05 |
| PDD PDD Holdings Inc. | Reduce -17.9% | 0.10% | −0.05 |
| SBUX Starbucks Corp. | Reduce -16.2% | 0.12% | −0.05 |
| ALB Albemarle Corp. | Reduce -42.9% | 0.04% | −0.04 |
| MU Micron Technology Inc. | Reduce -32.3% | 0.33% | −0.04 |
| BABA Alibaba Group Holding-SP ADR | Reduce -47.0% | 0.03% | −0.04 |
| MRK Merck & Co. Inc. | Reduce -8.3% | 0.12% | −0.04 |
| APTV Aptiv PLC | Reduce -82.3% | 0.01% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +5.6% | 3.97% | +1.15 |
| MSFT Microsoft Corp. | Add +4.3% | 3.27% | +0.69 |
| AVGO Broadcom Inc. | Add +1.6% | 1.89% | +0.66 |
| GOOGL Alphabet Inc. Class A | Add +14.8% | 1.88% | +0.31 |
| AMRZ Amrize Ltd. | New | 0.26% | +0.26 |
| META Meta Platforms Inc. Class A | Add +1.4% | 1.45% | +0.23 |
| LRCX Lam Research Corp. | Add +9.0% | 0.87% | +0.22 |
| SPOT Spotify Technology SA | Add +79.2% | 0.37% | +0.21 |
| AMZN Amazon.com Inc. | Add +6.9% | 1.78% | +0.20 |
| D Dominion Energy Inc. | Add +164.7% | 0.32% | +0.19 |
| SNPS Synopsys Inc. | Add +3.8% | 1.32% | +0.16 |
| TT Trane Technologies PLC | Add +0.9% | 0.86% | +0.14 |
| ES Eversource Energy | Add +907.9% | 0.16% | +0.14 |
| DT Dynatrace Inc. | Add +30.5% | 0.49% | +0.14 |
| PANW Palo Alto Networks Inc. | Add +9.5% | 0.79% | +0.13 |
| NET Cloudflare Inc. Class A | Add +9.7% | 0.27% | +0.12 |
| VST Vistra Corp. | Add +12.2% | 0.27% | +0.11 |
| FSLR First Solar Inc. | Add +1005.4% | 0.12% | +0.11 |
| NOW ServiceNow Inc. | Add +18.4% | 0.36% | +0.10 |
| PWR Quanta Services Inc. | Add +19.0% | 0.27% | +0.10 |
| MDB Mongodb Inc. | Add +115.7% | 0.16% | +0.09 |
| FIS Fidelity National Info Serv | Add +308.9% | 0.12% | +0.09 |
| JCI Johnson Controls Internation | Add +10.2% | 0.35% | +0.09 |
| TSLA Tesla Inc. | Add +2.9% | 0.64% | +0.09 |
| PNR Pentair PLC | Add +10.7% | 0.53% | +0.09 |
| PH Parker Hannifin Corp. | Add +12.3% | 0.52% | +0.08 |
| LIN Linde PLC | Add +30.4% | 0.47% | +0.08 |
| SRE Sempra | Add +28.9% | 0.38% | +0.08 |
| CSL Carlisle Cos Inc. | Add +69.5% | 0.18% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | Add +162.1% | 0.11% | +0.07 |
| CAT Caterpillar Inc. | Add +51.9% | 0.18% | +0.07 |
| DDOG Datadog Inc. Class A | Add +48.3% | 0.16% | +0.07 |
| CLH Clean Harbors Inc. | Add +10.3% | 0.45% | +0.07 |
| IDA Idacorp Inc. | Add +10844.3% | 0.06% | +0.06 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | New | 0.06% | +0.06 |
| ORCL Oracle Corp. | Add +3.4% | 0.18% | +0.06 |
| NXPI NXP Semiconductors NV | Add +0.8% | 1.01% | +0.06 |
| ZBRA Zebra Technologies Corp. Class A | Add +218.1% | 0.08% | +0.06 |
| GEV GE Vernova Inc. | Add +44.0% | 0.10% | +0.06 |
| CHKP Check Point Software Tech | Add +80.2% | 0.15% | +0.06 |
| ACN Accenture PLC Class A | Add +42.7% | 0.27% | +0.06 |
| TWLO Twilio Inc. Class A | Add +8.8% | 0.22% | +0.05 |
| UNP Union Pacific Corp. | Add +60.3% | 0.15% | +0.04 |
| LOGI Logitech International-Reg | Add +20.8% | 0.27% | +0.04 |
| NXT Nextpower Inc. | Add +24.4% | 0.13% | +0.04 |
| CFLT Confluent Inc. Class A | Add +45.0% | 0.14% | +0.04 |
| NBIX Neurocrine Biosciences Inc. | Add +79.6% | 0.09% | +0.04 |
| XYL Xylem Inc. | Add +7.0% | 0.72% | +0.04 |
| AKRO Akero Therapeutics Inc. | Add +213.5% | 0.05% | +0.04 |
| CYBR Cyberark Software Ltd./Israel | Add +2.4% | 0.34% | +0.04 |
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 |