Shell Asset Management Co.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Shell Asset Management Co. reported 1,260 stock positions worth $2.1 billion. Its top holding was Apple (AAPL) at 5.9% of the portfolio, followed by Nvidia (NVDA, 5.1%) and Microsoft (MSFT, 4.9%). Compared with Q4 2024, it opened 24 new positions, sold out of 28, added to 138 and reduced 973. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +10%) and the biggest sale Nvidia (NVDA, shares −4%).
- Most Recent 13F
- Q3 2025
- Location
- THE HAGUE, P7
- CIK
- 0001211028
- Portfolio Value
- $2.1B (Q1 2025)
- SEC Filing
- 0001211028-25-000003 ↗ filed May 14, 2025
Holdings Value
Holdings 1,260 stocks · $2.1B
| AAPL Apple Inc. | 5.88% | 557,349 | $123.8M | Reduce -3.9% |
| NVDA Nvidia Corp. | 5.08% | 986,685 | $106.9M | Reduce -3.8% |
| MSFT Microsoft Corp. | 4.95% | 277,517 | $104.2M | Reduce -3.7% |
| AMZN Amazon.com Inc. | 3.85% | 426,203 | $81.1M | Reduce -3.8% |
| META Meta Platforms Inc. Class A | 2.46% | 89,864 | $51.8M | Reduce -1.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.67% | 66,143 | $35.2M | Add +10.4% |
| GOOG Alphabet Inc. Class C | 1.66% | 224,294 | $35.0M | Reduce -4.0% |
| V Visa Inc. Class A | 1.56% | 93,981 | $32.9M | Reduce -3.0% |
| COST Costco Wholesale Corp. | 1.43% | 31,763 | $30.0M | Reduce -3.7% |
| UNH Unitedhealth Group Inc. | 1.39% | 55,876 | $29.3M | Reduce -18.0% |
| LLY Eli Lilly & Co. | 1.36% | 34,804 | $28.7M | Reduce -3.7% |
| AVGO Broadcom Inc. | 1.34% | 169,017 | $28.3M | Reduce -1.1% |
| MA Mastercard Inc. Class A | 1.29% | 49,676 | $27.2M | Reduce -3.6% |
| TSLA Tesla Inc. | 1.17% | 95,062 | $24.6M | Reduce -3.5% |
| GOOGL Alphabet Inc. Class A | 1.13% | 154,319 | $23.9M | Reduce -3.4% |
| JPM JPMorgan Chase & Co. | 0.74% | 63,763 | $15.6M | Reduce -3.6% |
| BKNG Booking Holdings Inc. | 0.72% | 3,284 | $15.1M | Reduce -3.8% |
| ABT Abbott Laboratories | 0.71% | 113,170 | $15.0M | Reduce -4.1% |
| MCO Moody's Corp. | 0.71% | 32,073 | $14.9M | Reduce -3.8% |
| PGR Progressive Corp. | 0.69% | 51,198 | $14.5M | Reduce -3.6% |
| INDA iShares MSCI India ETF | 0.66% | 271,500 | $14.0M | Add +0.1% |
| AEM Agnico Eagle Mines Ltd. | 0.65% | 126,963 | $13.8M | Reduce -4.4% |
| FISV Fiserv Inc. | 0.65% | 61,680 | $13.6M | Reduce -3.9% |
| SNEX Stonex Group Inc. | 0.64% | 176,025 | $13.4M | Reduce -4.0% |
| NOW ServiceNow Inc. | 0.63% | 16,736 | $13.3M | Reduce -3.8% |
| ISRG Intuitive Surgical Inc. | 0.62% | 26,365 | $13.1M | Add +10.4% |
| INGR Ingredion Inc. | 0.59% | 92,634 | $12.5M | Add +28.8% |
| CDNS Cadence Design SYS Inc. | 0.59% | 48,453 | $12.3M | Reduce -4.0% |
| HD Home Depot Inc. | 0.58% | 33,173 | $12.2M | Reduce -3.8% |
| BRO Brown & Brown Inc. | 0.58% | 97,438 | $12.1M | Reduce -3.8% |
| SPGI S&P Global Inc. | 0.57% | 23,708 | $12.0M | Reduce -3.7% |
| TDG Transdigm Group Inc. | 0.57% | 8,634 | $11.9M | Reduce -3.9% |
| FICO Fair Isaac Corp. | 0.55% | 6,323 | $11.7M | Reduce -4.2% |
| INTU Intuit Inc. | 0.55% | 18,838 | $11.6M | Reduce -3.7% |
| TMO Thermo Fisher Scientific Inc. | 0.50% | 21,082 | $10.5M | Add +51.2% |
| NEM Newmont Corp. | 0.49% | 212,647 | $10.3M | Reduce -9.3% |
| NFLX Netflix Inc. | 0.47% | 10,506 | $9.8M | Reduce -3.5% |
| APH Amphenol Corp. Class A | 0.46% | 147,832 | $9.7M | Reduce -3.6% |
| PEP Pepsico Inc. | 0.44% | 61,486 | $9.2M | Reduce -3.9% |
| UBER Uber Technologies Inc. | 0.44% | 126,366 | $9.2M | Reduce -3.5% |
| FIS Fidelity National Info Serv | 0.44% | 122,866 | $9.2M | Reduce -4.2% |
| CMG Chipotle Mexican Grill Inc. | 0.43% | 181,566 | $9.1M | Reduce -21.3% |
| CPRT Copart Inc. | 0.42% | 157,351 | $8.9M | Reduce -3.7% |
| XYL Xylem Inc. | 0.39% | 69,339 | $8.3M | Reduce -3.8% |
| EQX Equinox Gold Corp. | 0.37% | 1,138,558 | $7.8M | Reduce -3.9% |
| FAST Fastenal Co. | 0.36% | 97,028 | $7.5M | Reduce -3.5% |
| ABBV Abbvie Inc. | 0.35% | 35,642 | $7.5M | Reduce -2.9% |
| GILD Gilead Sciences Inc. | 0.34% | 64,563 | $7.2M | Reduce -3.1% |
| CRM Salesforce Inc. | 0.34% | 26,744 | $7.2M | Reduce -3.6% |
| CVX Chevron Corp. | 0.33% | 42,113 | $7.0M | Reduce -3.8% |
| PM Philip Morris International | 0.33% | 43,798 | $7.0M | Reduce -3.5% |
| CBOE Cboe Global Markets Inc. | 0.33% | 30,420 | $6.9M | Reduce -2.9% |
| XOM Exxon Mobil Corp. | 0.32% | 56,679 | $6.7M | Reduce -4.0% |
| VRTX Vertex Pharmaceuticals Inc. | 0.31% | 13,372 | $6.5M | Reduce -8.8% |
| ACGL Arch Capital Group Ltd. | 0.31% | 66,937 | $6.4M | Reduce -4.0% |
| NVR NVR Inc. | 0.31% | 887 | $6.4M | Reduce -3.9% |
| PANW Palo Alto Networks Inc. | 0.30% | 37,632 | $6.4M | Reduce -3.3% |
| AMAT Applied Materials Inc. | 0.30% | 43,322 | $6.3M | Reduce -4.5% |
| DHR Danaher Corp. | 0.30% | 30,463 | $6.2M | Add +41.6% |
| REGN Regeneron Pharmaceuticals | 0.30% | 9,816 | $6.2M | Reduce -13.4% |
| AXP American Express Co. | 0.29% | 22,880 | $6.2M | Reduce -3.5% |
| URI United Rentals Inc. | 0.28% | 9,519 | $6.0M | Reduce -4.2% |
| CTAS Cintas Corp. | 0.28% | 28,738 | $5.9M | Reduce -4.2% |
| ADP Automatic Data Processing | 0.27% | 18,610 | $5.7M | Reduce -3.1% |
| HIG Hartford Insurance Group Inc. | 0.26% | 45,023 | $5.6M | Reduce -3.5% |
| FTNT Fortinet Inc. | 0.26% | 57,506 | $5.5M | Reduce -3.3% |
| PG The Procter & Gamble Co. | 0.26% | 32,128 | $5.5M | Reduce -2.3% |
| CSGP Costar Group Inc. | 0.26% | 68,907 | $5.5M | Reduce -3.0% |
| ORLY O'reilly Automotive Inc. | 0.25% | 3,739 | $5.4M | Reduce -3.8% |
| TRI Thomson Reuters Corp. | 0.25% | 31,006 | $5.3M | Reduce -2.7% |
| MRK Merck & Co. Inc. | 0.25% | 59,472 | $5.3M | Reduce -3.0% |
| ALL Allstate Corp. | 0.25% | 25,634 | $5.3M | Reduce -3.8% |
| KLAC KLA Corp. | 0.25% | 7,795 | $5.3M | Reduce -3.4% |
| AMD Advanced Micro Devices | 0.24% | 49,568 | $5.1M | Reduce -3.7% |
| PYPL PayPal Holdings Inc. | 0.23% | 75,377 | $4.9M | Reduce -3.6% |
| BEPC Brookfield Renewable Corp. | 0.23% | 174,714 | $4.9M | Reduce -4.1% |
| EXC Exelon Corp. | 0.23% | 104,665 | $4.8M | Reduce -3.0% |
| DVN Devon Energy Corp. | 0.23% | 128,741 | $4.8M | Reduce -3.0% |
| CI The Cigna Group | 0.23% | 14,595 | $4.8M | Reduce -3.4% |
| DHT DHT Holdings Inc. | 0.23% | 456,412 | $4.8M | Add +27.7% |
| ADBE Adobe Inc. | 0.22% | 12,278 | $4.7M | Reduce -3.6% |
| UNP Union Pacific Corp. | 0.22% | 19,673 | $4.6M | Reduce -3.0% |
| WELL Welltower Inc. | 0.22% | 29,935 | $4.6M | Reduce -7.4% |
| ELV Elevance Health Inc. | 0.22% | 10,426 | $4.5M | Reduce -3.8% |
| REG Regency Centers Corp. | 0.21% | 60,491 | $4.5M | Add +77.4% |
| ENB Enbridge Inc. | 0.21% | 100,413 | $4.4M | Reduce -2.9% |
| FFIV F5 Inc. | 0.21% | 16,667 | $4.4M | Reduce -2.7% |
| MCK McKesson Corp. | 0.21% | 6,579 | $4.4M | Reduce -3.4% |
| WM Waste Management Inc. | 0.20% | 18,648 | $4.3M | Reduce -3.8% |
| CLS Celestica Inc. | 0.20% | 54,644 | $4.3M | Reduce -38.7% |
| KO The Coca-Cola Co. | 0.20% | 59,995 | $4.3M | Reduce -2.9% |
| GE General Electric filed as GE AEROSPACE | 0.20% | 21,387 | $4.3M | Add +0.5% |
| CBRE CBRE Group Inc. Class A | 0.20% | 32,670 | $4.3M | Reduce -4.4% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.20% | 49,783 | $4.2M | Reduce -4.5% |
| MELI MercadoLibre Inc. | 0.20% | 2,122 | $4.1M | Reduce -3.0% |
| DAR Darling Ingredients Inc. | 0.20% | 132,406 | $4.1M | Reduce -4.0% |
| HAPN Happen Inc. filed as LENDINGCLUB CORP | 0.20% | 398,025 | $4.1M | Add +73.3% |
| LRCX Lam Research Corp. | 0.19% | 56,403 | $4.1M | Reduce -7.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.19% | 16,432 | $4.1M | Reduce -1.9% |
| MPWR Monolithic Power Systems Inc. | 0.19% | 7,027 | $4.1M | Add +34.8% |
Portfolio Sells Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | Reduce -3.8% | 5.08% | −0.94 |
| TSLA Tesla Inc. | Reduce -3.5% | 1.17% | −0.57 |
| AAPL Apple Inc. | Reduce -3.9% | 5.88% | −0.47 |
| AMZN Amazon.com Inc. | Reduce -3.8% | 3.85% | −0.39 |
| AVGO Broadcom Inc. | Reduce -1.1% | 1.34% | −0.39 |
| MSFT Microsoft Corp. | Reduce -3.7% | 4.95% | −0.36 |
| GOOG Alphabet Inc. Class C | Reduce -4.0% | 1.66% | −0.28 |
| PAYO Payoneer Global Inc. | Reduce -47.4% | 0.18% | −0.26 |
| CSL Carlisle Cos Inc. | Reduce -54.4% | 0.18% | −0.21 |
| GOOGL Alphabet Inc. Class A | Reduce -3.4% | 1.13% | −0.19 |
| CMG Chipotle Mexican Grill Inc. | Reduce -21.3% | 0.43% | −0.17 |
| NOW ServiceNow Inc. | Reduce -3.8% | 0.63% | −0.17 |
| CLS Celestica Inc. | Reduce -38.7% | 0.20% | −0.16 |
| GTLS Chart Industries Inc. | Reduce -41.7% | 0.12% | −0.13 |
| UNH Unitedhealth Group Inc. | Reduce -18.0% | 1.39% | −0.12 |
| TECK Teck Resources Ltd.-CLS B | Reduce -89.7% | 0.01% | −0.10 |
| DECK Deckers Outdoor Corp. | Reduce -3.1% | 0.13% | −0.09 |
| CDNS Cadence Design SYS Inc. | Reduce -4.0% | 0.59% | −0.08 |
| HII Huntington Ingalls Industrie | Sold out | 0.00% | −0.07 |
| SLAB Silicon Laboratories Inc. | Reduce -39.4% | 0.10% | −0.07 |
| CRM Salesforce Inc. | Reduce -3.6% | 0.34% | −0.06 |
| PYPL PayPal Holdings Inc. | Reduce -3.6% | 0.23% | −0.06 |
| REGN Regeneron Pharmaceuticals | Reduce -13.4% | 0.30% | −0.06 |
| SD Sandridge Energy Inc. | Sold out | 0.00% | −0.05 |
| IRM Iron Mountain Inc. | Reduce -19.9% | 0.12% | −0.05 |
| EIX Edison International | Reduce -3.6% | 0.16% | −0.05 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −0.04 |
| DINO HF Sinclair Corp. | Reduce -65.9% | 0.02% | −0.03 |
| SYF Synchrony Financial | Reduce -4.0% | 0.17% | −0.03 |
| AMD Advanced Micro Devices | Reduce -3.7% | 0.24% | −0.03 |
| POWI Power Integrations Inc. | Reduce -7.0% | 0.14% | −0.03 |
| HEI Heico Corp. | Sold out | 0.00% | −0.03 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.03 |
| PBA Pembina Pipeline Corp. | Reduce -56.0% | 0.03% | −0.03 |
| APP AppLovin Corp. Class A | Reduce -19.1% | 0.07% | −0.03 |
| NVR NVR Inc. | Reduce -3.9% | 0.31% | −0.02 |
| SRE Sempra | Reduce -4.2% | 0.14% | −0.02 |
| ADBE Adobe Inc. | Reduce -3.6% | 0.22% | −0.02 |
| AMAT Applied Materials Inc. | Reduce -4.5% | 0.30% | −0.02 |
| MANH Manhattan Associates Inc. | Reduce -17.3% | 0.03% | −0.02 |
| CVE Cenovus Energy Inc. | Reduce -76.8% | 0.01% | −0.02 |
| BKNG Booking Holdings Inc. | Reduce -3.8% | 0.72% | −0.02 |
| TGT Target Corp. | Reduce -4.3% | 0.09% | −0.02 |
| NTNX Nutanix Inc. Class A | Reduce -86.5% | 0.00% | −0.02 |
| URI United Rentals Inc. | Reduce -4.2% | 0.28% | −0.02 |
| FICO Fair Isaac Corp. | Reduce -4.2% | 0.55% | −0.02 |
| LULU Lululemon Athletica Inc. | Reduce -3.1% | 0.07% | −0.02 |
| INCY Incyte Corp. | Reduce -20.0% | 0.06% | −0.02 |
| VRT Vertiv Holdings Co. Class A | Reduce -3.3% | 0.04% | −0.02 |
| TNDM Tandem Diabetes Care Inc. | Reduce -3.8% | 0.02% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| BRK.B Berkshire Hathaway Inc. Class B | Add +10.4% | 1.67% | +0.49 |
| TMO Thermo Fisher Scientific Inc. | Add +51.2% | 0.50% | +0.18 |
| INGR Ingredion Inc. | Add +28.8% | 0.59% | +0.16 |
| REG Regency Centers Corp. | Add +77.4% | 0.21% | +0.10 |
| CVS CVS Health Corp. | Add +54.3% | 0.15% | +0.09 |
| DHT DHT Holdings Inc. | Add +27.7% | 0.23% | +0.08 |
| DHR Danaher Corp. | Add +41.6% | 0.30% | +0.08 |
| IP International Paper Co. | Add +110.0% | 0.14% | +0.08 |
| ISRG Intuitive Surgical Inc. | Add +10.4% | 0.62% | +0.08 |
| MPWR Monolithic Power Systems Inc. | Add +34.8% | 0.19% | +0.06 |
| BNTX Biontech SE-ADR | Add +81.1% | 0.15% | +0.06 |
| GE General Electric | Add +0.5% | 0.20% | +0.05 |
| P Everpure Inc. Class A | Add +69.9% | 0.19% | +0.05 |
| PDD PDD Holdings Inc. | Add +0.7% | 0.19% | +0.05 |
| INDA iShares MSCI India ETF | Add +0.1% | 0.66% | +0.04 |
| SHOP Shopify Inc. Class A | Add +47.0% | 0.13% | +0.04 |
| PAAS Pan American Silver Corp. | Add +556.6% | 0.04% | +0.04 |
| HAPN Happen Inc. | Add +73.3% | 0.20% | +0.03 |
| EQIX Equinix Inc. | Add +32.7% | 0.14% | +0.03 |
| SE Sea Ltd.-ADR | Add +3.9% | 0.09% | +0.03 |
| IBKR Interactive Brokers Gro Class A | New | 0.02% | +0.02 |
| AGCO Agco Corp. | Add +4.6% | 0.16% | +0.02 |
| CSCO Cisco Systems Inc. | Add +0.5% | 0.15% | +0.02 |
| JBL Jabil Inc. | Add +291.4% | 0.02% | +0.02 |
| ABNB Airbnb Inc. Class A | New | 0.02% | +0.02 |
| VICI Vici Properties Inc. | Add +4.5% | 0.07% | +0.01 |
| MAT Mattel Inc. | Add +125.1% | 0.02% | +0.01 |
| MRSH Marsh & McLennan Cos | Add +0.6% | 0.07% | +0.01 |
| UAL United Airlines Holdings Inc. | New | 0.01% | +0.01 |
| CVLT Commvault Systems Inc. | New | 0.01% | +0.01 |
| SITE Siteone Landscape Supply Inc. | New | 0.01% | +0.01 |
| OXY Occidental Petroleum Corp. | Add +23.6% | 0.05% | +0.01 |
| ORCL Oracle Corp. | Add +18.5% | 0.18% | +0.01 |
| CROX Crocs Inc. | New | 0.01% | +0.01 |
| DUOL Duolingo | New | 0.01% | +0.01 |
| KSA Ishrs MSCI Saudi Arabia ETF | Add +1.4% | 0.12% | +0.01 |
| VRSN Verisign Inc. | Add +2.1% | 0.04% | +0.01 |
| COHR Coherent Corp. | New | 0.01% | +0.01 |
| AGI Alamos Gold Inc. Class A | Add +3.5% | 0.03% | +0.01 |
| UMBF Umb Financial Corp. | New | 0.01% | +0.01 |
| PCTY Paylocity Holding Corp. | New | 0.01% | +0.01 |
| COF Capital One Financial Corp. | Add +4.8% | 0.08% | +0.01 |
| NUE Nucor Corp. | Add +17.0% | 0.04% | +0.01 |
| GNRC Generac Holdings Inc. | Add +767.3% | 0.01% | +0.01 |
| USFD US Foods Holding Corp. | Add +19.1% | 0.05% | +0.01 |
| WSO Watsco Inc. | Add +22.7% | 0.03% | +0.01 |
| XPO Xpo Inc. | Add +131.7% | 0.02% | +0.01 |
| NI Nisource Inc. | Add +2.6% | 0.05% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | Add +0.2% | 0.05% | +0.01 |
| OKE Oneok Inc. | Add +6.3% | 0.07% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2025 | 1,140 | $995.7M | NVDA, AAPL, MSFT, AMZN, AVGO |
| Q2 2025 | 1,266 | $2.9B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 1,260 | $2.1B | AAPL, NVDA, MSFT, AMZN, META |
| Q4 2024 | 1,264 | $2.3B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 1,255 | $2.3B | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2024 | 1,252 | $2.2B | MSFT, NVDA, AAPL, AMZN, META |