Pictet North America Advisors SA
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 16, 2026), Pictet North America Advisors SA reported 152 stock positions worth $1.1 billion. Its top holding was Burford Capital (BUR) at 6.5% of the portfolio, followed by SPDR Gold Shares (GLD, 5.8%) and Taiwan Semiconductor-SP ADR (TSM, 5.3%). Compared with Q3 2025, it opened 8 new positions, added to 32 and reduced 52. The biggest buy was a new position in Brookfield (BN) and the biggest sale Canadian Pacific Kansas City (CP, shares −86%).
- Most Recent 13F
- Q2 2026
- Location
- GENEVA 73, V8
- CIK
- 0001599576
- Portfolio Value
- $1.1B (Q4 2025)
- SEC Filing
- 0001599576-26-000001 ↗ filed Jan 16, 2026
Holdings Value
Holdings 152 stocks · $1.1B
| BUR Burford Capital Ltd. | 6.50% | 7,647,727 | $68.5M | No change |
| GLD SPDR Gold Shares | 5.78% | 154,165 | $60.8M | Add +0.2% |
| TSM Taiwan Semiconductor-SP ADR | 5.25% | 182,058 | $55.3M | Add +1.3% |
| GOOGL Alphabet Inc. Class A | 4.10% | 137,965 | $43.2M | Reduce -3.4% |
| MSFT Microsoft Corp. | 3.84% | 83,972 | $40.4M | Reduce -2.7% |
| SONY Sony Group Corp. - SP ADR | 3.74% | 1,537,036 | $39.3M | Add +1.9% |
| SIHY Harbor Ares Systemt Hi YD-US | 3.68% | 849,132 | $38.8M | Reduce -14.6% |
| EEM iShares MSCI Emerging Market | 3.05% | 588,156 | $32.2M | Reduce -0.2% |
| AMZN Amazon.com Inc. | 3.02% | 138,030 | $31.9M | Reduce -6.6% |
| ALC Alcon Inc. filed as ALCON AG | 2.94% | 388,026 | $31.0M | Add +10.1% |
| YUMC Yum China Holdings Inc. | 2.29% | 507,719 | $24.1M | Add +2.0% |
| JPM JPMorgan Chase & Co. | 2.15% | 70,301 | $22.7M | Reduce -3.1% |
| PYLD PIMCO Multisector Bond Actv | 2.11% | 834,053 | $22.3M | Reduce -23.1% |
| AIRR First Trust Rba American Ind | 2.10% | 224,873 | $22.1M | Add +0.0% |
| META Meta Platforms Inc. Class A | 2.07% | 33,029 | $21.8M | Reduce -2.8% |
| IAU iShares Gold Trust | 1.91% | 248,159 | $20.1M | Reduce -9.9% |
| V Visa Inc. Class A | 1.88% | 56,467 | $19.8M | Reduce -4.2% |
| MELI MercadoLibre Inc. | 1.79% | 9,342 | $18.8M | Add +40.7% |
| BN Brookfield Corp. | 1.77% | 405,659 | $18.7M | New |
| UBS UBS Group AG-Reg | 1.64% | 369,855 | $17.3M | Reduce -3.3% |
| AAPL Apple Inc. | 1.52% | 58,859 | $16.0M | Reduce -7.6% |
| JAAA Janus Henderson Aaa Clo ETF | 1.48% | 309,262 | $15.6M | Reduce -31.0% |
| SPGI S&P Global Inc. | 1.42% | 28,617 | $15.0M | Reduce -2.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.41% | 29,572 | $14.9M | Reduce -3.4% |
| MCD McDonald's Corp. | 1.12% | 38,631 | $11.8M | Reduce -2.6% |
| ORLY O'reilly Automotive Inc. | 1.02% | 117,865 | $10.8M | Reduce -2.3% |
| JMBS Janus Henderson Mortg Backed | 0.99% | 227,223 | $10.4M | Reduce -35.1% |
| ASML ASML Holding NV-NY Reg SHS | 0.96% | 9,458 | $10.1M | Reduce -0.4% |
| GOOG Alphabet Inc. Class C | 0.95% | 31,920 | $10.0M | No change |
| ADP Automatic Data Processing | 0.93% | 37,988 | $9.8M | Add +7.0% |
| HLT Hilton Worldwide Holdings Inc. | 0.91% | 33,194 | $9.5M | Reduce -2.8% |
| NVDA Nvidia Corp. | 0.90% | 50,835 | $9.5M | Add +2.0% |
| AMRZ Amrize Ltd. | 0.89% | 171,259 | $9.4M | Add +1.4% |
| GE General Electric filed as GE AEROSPACE | 0.88% | 29,934 | $9.2M | Reduce -4.0% |
| AZN Astrazeneca PLC-Spons ADR | 0.81% | 92,910 | $8.5M | Reduce -7.4% |
| OTIS Otis Worldwide Corp. | 0.78% | 94,246 | $8.2M | Reduce -4.8% |
| AVGO Broadcom Inc. | 0.76% | 23,026 | $8.0M | Reduce -2.6% |
| MU Micron Technology Inc. | 0.73% | 27,110 | $7.7M | Reduce -39.5% |
| LLY Eli Lilly & Co. | 0.73% | 7,158 | $7.7M | Add +0.2% |
| BRO Brown & Brown Inc. | 0.70% | 92,125 | $7.3M | Reduce -6.8% |
| MA Mastercard Inc. Class A | 0.61% | 11,253 | $6.4M | Reduce -8.6% |
| EWJ iShares MSCI Japan ETF | 0.60% | 77,765 | $6.3M | Add +33.7% |
| EWL iShares MSCI Switzerland ETF | 0.54% | 95,606 | $5.7M | Add +12.1% |
| BSX Boston Scientific Corp. | 0.53% | 58,974 | $5.6M | Reduce -3.8% |
| VCIT Vanguard Int-Term Corporate | 0.50% | 63,223 | $5.3M | Add +6.2% |
| EWU iShares MSCI United Kingdom | 0.50% | 119,724 | $5.3M | Reduce -4.3% |
| CVX Chevron Corp. | 0.50% | 34,289 | $5.2M | Reduce -6.0% |
| EWQ iShares MSCI France ETF | 0.49% | 115,725 | $5.2M | Reduce -11.2% |
| AMD Advanced Micro Devices | 0.48% | 23,734 | $5.1M | Reduce -5.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.48% | 7,350 | $5.0M | No change |
| TTE Totalenergies SE | 0.47% | 76,104 | $5.0M | New |
| VB Vanguard Most SM-Cap ETF-Usd | 0.45% | 18,364 | $4.7M | Reduce -2.9% |
| FAST Fastenal Co. | 0.41% | 108,786 | $4.4M | Reduce -7.8% |
| EZU iShares MSCI Eurozone ETF | 0.41% | 67,953 | $4.4M | Add +2.6% |
| TMO Thermo Fisher Scientific Inc. | 0.40% | 7,254 | $4.2M | Reduce -3.3% |
| HD Home Depot Inc. | 0.40% | 12,165 | $4.2M | Reduce -4.0% |
| URTH iShares MSCI World ETF | 0.38% | 21,801 | $4.0M | Add +8.0% |
| CME Cme Group Inc. | 0.38% | 14,811 | $4.0M | Reduce -3.5% |
| PG The Procter & Gamble Co. | 0.38% | 27,666 | $4.0M | Reduce -4.5% |
| PM Philip Morris International | 0.37% | 24,107 | $3.9M | Reduce -3.9% |
| IYR iShares US Real Estate ETF | 0.33% | 37,434 | $3.5M | No change |
| VGK Vanguard Ftse Europe ETF | 0.32% | 40,778 | $3.4M | Add +1.3% |
| UNP Union Pacific Corp. | 0.30% | 13,681 | $3.2M | Reduce -8.9% |
| INDA iShares MSCI India ETF | 0.29% | 56,832 | $3.1M | Reduce -0.4% |
| VT Vanguard Tot World STK ETF | 0.29% | 21,458 | $3.0M | Reduce -0.7% |
| CP Canadian Pacific Kansas City | 0.28% | 39,625 | $2.9M | Reduce -86.5% |
| CB Chubb Ltd. | 0.27% | 9,254 | $2.9M | Add +1.0% |
| UBER Uber Technologies Inc. | 0.26% | 33,409 | $2.7M | Reduce -3.3% |
| CPRT Copart Inc. | 0.25% | 66,191 | $2.6M | New |
| DHR Danaher Corp. | 0.23% | 10,599 | $2.4M | Reduce -9.2% |
| LIN Linde PLC | 0.23% | 5,564 | $2.4M | Add +0.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.22% | 3,846 | $2.4M | No change |
| IGF iShares Global Infrastructur | 0.21% | 35,452 | $2.2M | No change |
| IEUS iShares MSCI Europe Small-Ca | 0.20% | 31,087 | $2.1M | Add +0.8% |
| CRM Salesforce Inc. | 0.20% | 7,986 | $2.1M | Reduce -9.4% |
| ADBE Adobe Inc. | 0.20% | 5,905 | $2.1M | Reduce -10.1% |
| ACWI iShares MSCI Acwi ETF | 0.20% | 14,605 | $2.1M | No change |
| EWT iShares MSCI Taiwan ETF | 0.20% | 32,409 | $2.1M | No change |
| XLV SS Health Care Select Sector | 0.18% | 12,279 | $1.9M | No change |
| IXN iShares Global Tech ETF | 0.18% | 18,050 | $1.9M | No change |
| RTX RTX Corp. | 0.18% | 10,331 | $1.9M | No change |
| VWO Vanguard Ftse Emerging Marke | 0.18% | 35,146 | $1.9M | Add +22.6% |
| VNQI Vanguard GLBL Ex-US Real Est | 0.17% | 40,022 | $1.8M | No change |
| PH Parker Hannifin Corp. | 0.17% | 2,060 | $1.8M | No change |
| FXI iShares China Large-Cap ETF | 0.13% | 36,825 | $1.4M | Add +32.6% |
| BX Blackstone Inc. | 0.13% | 8,800 | $1.4M | No change |
| LEMB iShares JP Morgan Em Local C | 0.12% | 30,672 | $1.3M | Reduce -0.4% |
| DFUV Dimensional US Marketwide Va | 0.11% | 25,825 | $1.2M | No change |
| UNH Unitedhealth Group Inc. | 0.11% | 3,440 | $1.1M | Add +0.6% |
| RSP Invesco S&P 500 Equal Weight | 0.10% | 5,690 | $1.1M | No change |
| AMAT Applied Materials Inc. | 0.10% | 4,160 | $1.1M | No change |
| TXN Texas Instruments Inc. | 0.09% | 5,600 | $972K | No change |
| CMG Chipotle Mexican Grill Inc. | 0.09% | 26,000 | $962K | No change |
| QCOM Qualcomm Inc. | 0.09% | 5,500 | $941K | No change |
| XLK SS Technology Select Sector | 0.09% | 6,374 | $918K | No change |
| ICVT iShares Convertible Bond ETF | 0.09% | 9,244 | $911K | No change |
| EWC iShares MSCI Canada ETF | 0.08% | 16,303 | $879K | Add +54.5% |
| NEE Nextera Energy Inc. | 0.08% | 10,905 | $875K | No change |
| ACWX iShares MSCI Acwi Ex US ETF | 0.08% | 12,450 | $836K | No change |
| VCSH Vanguard S/T Corp. Bond ETF | 0.08% | 10,270 | $819K | Add +58.5% |
Portfolio Sells Q3 2025 → Q4 2025
| CP Canadian Pacific Kansas City | Reduce -86.5% | 0.28% | −1.76 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -31.0% | 1.48% | −0.65 |
| SIHY Harbor Ares Systemt Hi YD-US | Reduce -14.6% | 3.68% | −0.63 |
| PYLD PIMCO Multisector Bond Actv | Reduce -23.1% | 2.11% | −0.61 |
| JMBS Janus Henderson Mortg Backed | Reduce -35.1% | 0.99% | −0.51 |
| MSFT Microsoft Corp. | Reduce -2.7% | 3.84% | −0.33 |
| META Meta Platforms Inc. Class A | Reduce -2.8% | 2.07% | −0.27 |
| ORLY O'reilly Automotive Inc. | Reduce -2.3% | 1.02% | −0.20 |
| BRO Brown & Brown Inc. | Reduce -6.8% | 0.70% | −0.17 |
| FAST Fastenal Co. | Reduce -7.8% | 0.41% | −0.13 |
| HD Home Depot Inc. | Reduce -4.0% | 0.40% | −0.08 |
| OTIS Otis Worldwide Corp. | Reduce -4.8% | 0.78% | −0.07 |
| UBER Uber Technologies Inc. | Reduce -3.3% | 0.26% | −0.06 |
| MA Mastercard Inc. Class A | Reduce -8.6% | 0.61% | −0.05 |
| EWQ iShares MSCI France ETF | Reduce -11.2% | 0.49% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -4.5% | 0.38% | −0.04 |
| ORCL Oracle Corp. | Reduce -21.4% | 0.04% | −0.04 |
| CVX Chevron Corp. | Reduce -6.0% | 0.50% | −0.03 |
| UNP Union Pacific Corp. | Reduce -8.9% | 0.30% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.4% | 1.41% | −0.03 |
| BSX Boston Scientific Corp. | Reduce -3.8% | 0.53% | −0.03 |
| ADBE Adobe Inc. | Reduce -10.1% | 0.20% | −0.02 |
| AMZN Amazon.com Inc. | Reduce -6.6% | 3.02% | −0.01 |
| PM Philip Morris International | Reduce -3.9% | 0.37% | −0.01 |
| MCD McDonald's Corp. | Reduce -2.6% | 1.12% | −0.01 |
| ICE Intercontinental Exchange Inc. | Reduce -7.0% | 0.05% | −0.01 |
| CME Cme Group Inc. | Reduce -3.5% | 0.38% | −0.00 |
| V Visa Inc. Class A | Reduce -4.2% | 1.88% | −0.00 |
| GE General Electric | Reduce -4.0% | 0.88% | −0.00 |
| IFF Intl Flavors & Fragrances | Reduce -15.3% | 0.02% | −0.00 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -2.9% | 0.45% | −0.00 |
| AAPL Apple Inc. | Reduce -7.6% | 1.52% | +0.00 |
| LEMB iShares JP Morgan Em Local C | Reduce -0.4% | 0.12% | +0.00 |
| CRM Salesforce Inc. | Reduce -9.4% | 0.20% | +0.01 |
| ISRG Intuitive Surgical Inc. | Reduce -11.9% | 0.05% | +0.01 |
| EWU iShares MSCI United Kingdom | Reduce -4.3% | 0.50% | +0.01 |
| JPM JPMorgan Chase & Co. | Reduce -3.1% | 2.15% | +0.01 |
| VT Vanguard Tot World STK ETF | Reduce -0.7% | 0.29% | +0.01 |
| DHR Danaher Corp. | Reduce -9.2% | 0.23% | +0.01 |
| INDA iShares MSCI India ETF | Reduce -0.4% | 0.29% | +0.01 |
| AVGO Broadcom Inc. | Reduce -2.6% | 0.76% | +0.03 |
| MU Micron Technology Inc. | Reduce -39.5% | 0.73% | +0.03 |
| IAU iShares Gold Trust | Reduce -9.9% | 1.91% | +0.04 |
| TMO Thermo Fisher Scientific Inc. | Reduce -3.3% | 0.40% | +0.06 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -2.8% | 0.91% | +0.08 |
| SPGI S&P Global Inc. | Reduce -2.3% | 1.42% | +0.09 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -7.4% | 0.81% | +0.09 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -0.4% | 0.96% | +0.10 |
| AMD Advanced Micro Devices | Reduce -5.1% | 0.48% | +0.10 |
| EEM iShares MSCI Emerging Market | Reduce -0.2% | 3.05% | +0.11 |
Portfolio Buys Q3 2025 → Q4 2025
| BN Brookfield Corp. | New | 1.77% | +1.77 |
| GLD SPDR Gold Shares | Add +0.2% | 5.78% | +0.67 |
| TSM Taiwan Semiconductor-SP ADR | Add +1.3% | 5.25% | +0.55 |
| ALC Alcon Inc. | Add +10.1% | 2.94% | +0.48 |
| TTE Totalenergies SE | New | 0.47% | +0.47 |
| MELI MercadoLibre Inc. | Add +40.7% | 1.79% | +0.33 |
| YUMC Yum China Holdings Inc. | Add +2.0% | 2.29% | +0.30 |
| CPRT Copart Inc. | New | 0.25% | +0.25 |
| LLY Eli Lilly & Co. | Add +0.2% | 0.73% | +0.22 |
| EWJ iShares MSCI Japan ETF | Add +33.7% | 0.60% | +0.16 |
| AMRZ Amrize Ltd. | Add +1.4% | 0.89% | +0.13 |
| EWL iShares MSCI Switzerland ETF | Add +12.1% | 0.54% | +0.10 |
| XBI SS SPDR S&P Biotech ETF | New | 0.07% | +0.07 |
| AIRR First Trust Rba American Ind | Add +0.0% | 2.10% | +0.06 |
| URTH iShares MSCI World ETF | Add +8.0% | 0.38% | +0.04 |
| VWO Vanguard Ftse Emerging Marke | Add +22.6% | 0.18% | +0.03 |
| EFA iShares MSCI Eafe ETF | New | 0.03% | +0.03 |
| VCIT Vanguard Int-Term Corporate | Add +6.2% | 0.50% | +0.03 |
| EWC iShares MSCI Canada ETF | Add +54.5% | 0.08% | +0.03 |
| CB Chubb Ltd. | Add +1.0% | 0.27% | +0.03 |
| NVDA Nvidia Corp. | Add +2.0% | 0.90% | +0.03 |
| EZU iShares MSCI Eurozone ETF | Add +2.6% | 0.41% | +0.03 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +58.5% | 0.08% | +0.03 |
| SLV iShares Silver Trust | New | 0.03% | +0.03 |
| FXI iShares China Large-Cap ETF | Add +32.6% | 0.13% | +0.03 |
| VBIL Vanguard 0-3M T-Bill ETF | Add +91.8% | 0.05% | +0.03 |
| SPYM Ste STR SPDR PT S&P 500 ETF | New | 0.03% | +0.03 |
| VGK Vanguard Ftse Europe ETF | Add +1.3% | 0.32% | +0.02 |
| EWY iShares MSCI South Korea ETF | New | 0.02% | +0.02 |
| VGSH Vanguard Short-Term Treasury | Add +43.6% | 0.06% | +0.02 |
| VGIT Vanguard Intermediate-Term T | Add +43.6% | 0.04% | +0.01 |
| USIG iShares Broad Usd Investment | Add +21.2% | 0.06% | +0.01 |
| IEUS iShares MSCI Europe Small-Ca | Add +0.8% | 0.20% | +0.01 |
| DGRW Wisdomtree U.S. Quality Divi | Add +21.5% | 0.03% | +0.01 |
| WMT Walmart Inc. | Add +3.8% | 0.04% | +0.00 |
| BLK BlackRock Inc. | Add +2.8% | 0.06% | −0.00 |
| UNH Unitedhealth Group Inc. | Add +0.6% | 0.11% | −0.00 |
| LIN Linde PLC | Add +0.6% | 0.23% | −0.02 |
| ADP Automatic Data Processing | Add +7.0% | 0.93% | −0.05 |
| SONY Sony Group Corp. - SP ADR | Add +1.9% | 3.74% | −0.33 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 154 | $1.1B | TSM, GLD, GOOGL, AZN, MSFT |
| Q1 2026 | 154 | $1.0B | GLD, TSM, AZN, GOOGL, SONY |
| Q4 2025 | 152 | $1.1B | BUR, GLD, TSM, GOOGL, MSFT |
| Q3 2025 | 144 | $1.1B | BUR, GLD, TSM, SIHY, MSFT |
| Q2 2025 | 144 | $996.5M | BUR, GLD, MSFT, SIHY, TSM |
| Q1 2025 | 140 | $1.0B | BUR, GLD, EWJ, SIHY, MSFT |
| Q4 2024 | 146 | $1.1B | BUR, EWJ, TSM, MSFT, AMZN |
| Q3 2024 | 142 | $1.0B | BUR, EWJ, MSFT, IEF, TSM |
| Q2 2024 | 139 | $920.9M | BUR, EWJ, MSFT, TSM, GLD |
| Q1 2024 | 141 | $895.6M | BUR, EWJ, MSFT, GLD, TSM |