Shell Asset Management Co.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 23, 2025), Shell Asset Management Co. reported 1,266 stock positions worth $2.9 billion. Its top holding was Nvidia (NVDA) at 6.8% of the portfolio, followed by Microsoft (MSFT, 6.0%) and Apple (AAPL, 5.0%). Compared with Q1 2025, it opened 25 new positions, sold out of 17, added to 483 and reduced 690. The biggest buy was Nvidia (NVDA, shares +26%) and the biggest sale Brown & Brown (BRO, shares −1%).
- Most Recent 13F
- Q3 2025
- Location
- THE HAGUE, P7
- CIK
- 0001211028
- Portfolio Value
- $2.9B (Q2 2025)
- SEC Filing
- 0001211028-25-000004 ↗ filed Jul 23, 2025
Holdings Value
Holdings 1,266 stocks · $2.9B
| NVDA Nvidia Corp. | 6.79% | 1,245,097 | $196.7M | Add +26.2% |
| MSFT Microsoft Corp. | 6.00% | 349,437 | $173.8M | Add +25.9% |
| AAPL Apple Inc. | 4.98% | 703,509 | $144.3M | Add +26.2% |
| AMZN Amazon.com Inc. | 3.98% | 525,934 | $115.4M | Add +23.4% |
| META Meta Platforms Inc. Class A | 2.87% | 112,593 | $83.1M | Add +25.3% |
| AVGO Broadcom Inc. | 2.12% | 222,466 | $61.3M | Add +31.6% |
| GOOG Alphabet Inc. Class C | 1.74% | 283,897 | $50.4M | Add +26.6% |
| V Visa Inc. Class A | 1.38% | 112,470 | $39.9M | Add +19.7% |
| TSLA Tesla Inc. | 1.38% | 125,375 | $39.8M | Add +31.9% |
| COST Costco Wholesale Corp. | 1.33% | 38,839 | $38.4M | Add +22.3% |
| GOOGL Alphabet Inc. Class A | 1.21% | 198,203 | $34.9M | Add +28.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.20% | 71,547 | $34.8M | Add +8.2% |
| LLY Eli Lilly & Co. | 1.19% | 44,237 | $34.5M | Add +27.1% |
| MA Mastercard Inc. Class A | 1.16% | 59,835 | $33.6M | Add +20.4% |
| JPM JPMorgan Chase & Co. | 0.87% | 87,011 | $25.2M | Add +36.5% |
| UNH Unitedhealth Group Inc. | 0.72% | 66,912 | $20.9M | Add +19.8% |
| BKNG Booking Holdings Inc. | 0.70% | 3,512 | $20.3M | Add +6.9% |
| NOW ServiceNow Inc. | 0.68% | 19,282 | $19.8M | Add +15.2% |
| INTU Intuit Inc. | 0.67% | 24,507 | $19.3M | Add +30.1% |
| NFLX Netflix Inc. | 0.65% | 13,963 | $18.7M | Add +32.9% |
| MCO Moody's Corp. | 0.64% | 37,188 | $18.7M | Add +15.9% |
| HD Home Depot Inc. | 0.61% | 48,175 | $17.7M | Add +45.2% |
| ISRG Intuitive Surgical Inc. | 0.61% | 32,349 | $17.6M | Add +22.7% |
| SPGI S&P Global Inc. | 0.57% | 31,143 | $16.4M | Add +31.4% |
| CDNS Cadence Design SYS Inc. | 0.56% | 52,755 | $16.3M | Add +8.9% |
| PGR Progressive Corp. | 0.56% | 60,901 | $16.3M | Add +18.9% |
| ABT Abbott Laboratories | 0.54% | 115,033 | $15.6M | Add +1.6% |
| INDA iShares MSCI India ETF | 0.52% | 271,759 | $15.1M | Add +0.1% |
| SNEX Stonex Group Inc. | 0.49% | 154,596 | $14.1M | Reduce -12.2% |
| APH Amphenol Corp. Class A | 0.47% | 139,290 | $13.8M | Reduce -5.8% |
| AEM Agnico Eagle Mines Ltd. | 0.47% | 114,827 | $13.7M | Reduce -9.6% |
| UBER Uber Technologies Inc. | 0.45% | 140,104 | $13.1M | Add +10.9% |
| FISV Fiserv Inc. | 0.44% | 73,387 | $12.7M | Add +19.0% |
| NEM Newmont Corp. | 0.43% | 215,515 | $12.6M | Add +1.4% |
| AMAT Applied Materials Inc. | 0.43% | 67,765 | $12.4M | Add +56.4% |
| TDG Transdigm Group Inc. | 0.42% | 8,068 | $12.3M | Reduce -6.6% |
| INGR Ingredion Inc. | 0.42% | 89,035 | $12.1M | Reduce -3.9% |
| FICO Fair Isaac Corp. | 0.42% | 6,577 | $12.0M | Add +4.0% |
| CMG Chipotle Mexican Grill Inc. | 0.41% | 208,939 | $11.7M | Add +15.1% |
| PM Philip Morris International | 0.40% | 63,082 | $11.5M | Add +44.0% |
| FIS Fidelity National Info Serv | 0.38% | 133,799 | $10.9M | Add +8.9% |
| BRO Brown & Brown Inc. | 0.37% | 96,166 | $10.7M | Reduce -1.3% |
| AXP American Express Co. | 0.36% | 32,476 | $10.4M | Add +41.9% |
| AMD Advanced Micro Devices | 0.35% | 71,109 | $10.1M | Add +43.5% |
| PEP Pepsico Inc. | 0.34% | 74,979 | $9.9M | Add +21.9% |
| XYL Xylem Inc. | 0.33% | 74,955 | $9.7M | Add +8.1% |
| GILD Gilead Sciences Inc. | 0.33% | 86,589 | $9.6M | Add +34.1% |
| CRM Salesforce Inc. | 0.33% | 35,045 | $9.6M | Add +31.0% |
| FAST Fastenal Co. | 0.33% | 226,727 | $9.5M | Add +16.8% |
| ABBV Abbvie Inc. | 0.33% | 51,080 | $9.5M | Add +43.3% |
| COF Capital One Financial Corp. | 0.33% | 44,334 | $9.4M | Add +345.5% |
| ENB Enbridge Inc. | 0.32% | 204,861 | $9.3M | Add +104.0% |
| ADBE Adobe Inc. | 0.32% | 23,752 | $9.2M | Add +93.5% |
| TMO Thermo Fisher Scientific Inc. | 0.31% | 22,472 | $9.1M | Add +6.6% |
| PANW Palo Alto Networks Inc. | 0.31% | 44,382 | $9.1M | Add +17.9% |
| GE General Electric filed as GE AEROSPACE | 0.31% | 34,532 | $8.9M | Add +61.5% |
| ORCL Oracle Corp. | 0.29% | 38,886 | $8.5M | Add +47.4% |
| TRI Thomson Reuters Corp. | 0.29% | 42,311 | $8.5M | Add +36.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.29% | 28,506 | $8.4M | Add +73.5% |
| ADP Automatic Data Processing | 0.29% | 27,107 | $8.4M | Add +45.7% |
| CBOE Cboe Global Markets Inc. | 0.29% | 35,577 | $8.3M | Add +16.9% |
| PG The Procter & Gamble Co. | 0.29% | 51,925 | $8.3M | Add +61.6% |
| CPRT Copart Inc. | 0.28% | 167,910 | $8.2M | Add +6.7% |
| KLAC KLA Corp. | 0.28% | 9,044 | $8.1M | Add +16.0% |
| XOM Exxon Mobil Corp. | 0.28% | 74,909 | $8.1M | Add +32.2% |
| URI United Rentals Inc. | 0.27% | 10,563 | $8.0M | Add +11.0% |
| EQX Equinox Gold Corp. | 0.27% | 1,363,469 | $7.9M | Add +19.8% |
| VRTX Vertex Pharmaceuticals Inc. | 0.26% | 17,181 | $7.6M | Add +28.5% |
| KO The Coca-Cola Co. | 0.26% | 106,020 | $7.5M | Add +76.7% |
| CTAS Cintas Corp. | 0.26% | 33,526 | $7.5M | Add +16.7% |
| UNP Union Pacific Corp. | 0.26% | 32,166 | $7.4M | Add +63.5% |
| ACGL Arch Capital Group Ltd. | 0.25% | 80,833 | $7.4M | Add +20.8% |
| CVX Chevron Corp. | 0.25% | 51,115 | $7.3M | Add +21.4% |
| BR Broadridge Financial Solutio | 0.25% | 30,069 | $7.3M | Add +87.9% |
| HIG Hartford Insurance Group Inc. | 0.25% | 56,755 | $7.2M | Add +26.1% |
| DHR Danaher Corp. | 0.24% | 35,550 | $7.0M | Add +16.7% |
| FTNT Fortinet Inc. | 0.24% | 66,413 | $7.0M | Add +15.5% |
| HON Honeywell International Inc. | 0.24% | 29,680 | $6.9M | Add +66.8% |
| CI The Cigna Group | 0.24% | 20,768 | $6.9M | Add +42.3% |
| MELI MercadoLibre Inc. | 0.24% | 2,620 | $6.8M | Add +23.5% |
| LRCX Lam Research Corp. | 0.23% | 69,699 | $6.8M | Add +23.6% |
| CEG Constellation Energy | 0.23% | 20,782 | $6.7M | Add +20.7% |
| QCOM Qualcomm Inc. | 0.23% | 42,019 | $6.7M | Add +58.4% |
| NVR NVR Inc. | 0.23% | 904 | $6.7M | Add +1.9% |
| ICE Intercontinental Exchange Inc. | 0.23% | 36,229 | $6.6M | Add +63.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.23% | 53,020 | $6.6M | Add +127.9% |
| DHT DHT Holdings Inc. | 0.23% | 608,258 | $6.6M | Add +33.3% |
| SYK Stryker Corp. | 0.23% | 16,515 | $6.5M | Add +54.7% |
| MRK Merck & Co. Inc. | 0.22% | 81,674 | $6.5M | Add +37.3% |
| SYF Synchrony Financial | 0.22% | 94,900 | $6.3M | Add +36.4% |
| PYPL PayPal Holdings Inc. | 0.22% | 84,662 | $6.3M | Add +12.3% |
| WELL Welltower Inc. | 0.21% | 39,932 | $6.1M | Add +33.4% |
| ALL Allstate Corp. | 0.21% | 30,430 | $6.1M | Add +18.7% |
| LOW Lowe's Cos Inc. | 0.21% | 27,608 | $6.1M | Add +100.7% |
| TRV The Travelers Cos Inc. | 0.21% | 22,603 | $6.0M | Add +50.3% |
| FFIV F5 Inc. | 0.21% | 20,322 | $6.0M | Add +21.9% |
| ELV Elevance Health Inc. | 0.21% | 15,350 | $6.0M | Add +47.2% |
| FERG Ferguson Enterprises Inc. | 0.20% | 26,886 | $5.9M | Add +29.4% |
| DRI Darden Restaurants Inc. | 0.20% | 26,431 | $5.8M | Add +92.6% |
| MCK McKesson Corp. | 0.20% | 7,857 | $5.8M | Add +19.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $9K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 1,150 | $9K | New |
Total filed on the 13F, all lines: $2.9B.
Portfolio Sells Q1 2025 → Q2 2025
| BRO Brown & Brown Inc. | Reduce -1.3% | 0.37% | −0.21 |
| AEM Agnico Eagle Mines Ltd. | Reduce -9.6% | 0.47% | −0.18 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.18 |
| INGR Ingredion Inc. | Reduce -3.9% | 0.42% | −0.18 |
| SNEX Stonex Group Inc. | Reduce -12.2% | 0.49% | −0.15 |
| TDG Transdigm Group Inc. | Reduce -6.6% | 0.42% | −0.14 |
| REGN Regeneron Pharmaceuticals | Reduce -1.2% | 0.18% | −0.12 |
| ORLY O'reilly Automotive Inc. | Reduce -1.9% | 0.17% | −0.08 |
| IP International Paper Co. | Reduce -31.9% | 0.06% | −0.08 |
| AVB Avalonbay Communities Inc. | Reduce -16.2% | 0.10% | −0.07 |
| CSGP Costar Group Inc. | Reduce -2.1% | 0.19% | −0.07 |
| WM Waste Management Inc. | Reduce -6.7% | 0.14% | −0.07 |
| MPWR Monolithic Power Systems Inc. | Reduce -26.5% | 0.13% | −0.06 |
| PAYO Payoneer Global Inc. | Reduce -3.5% | 0.12% | −0.06 |
| WMT Walmart Inc. | Reduce -42.7% | 0.05% | −0.06 |
| TMUS T-Mobile US Inc. | Reduce -10.1% | 0.08% | −0.05 |
| DECK Deckers Outdoor Corp. | Reduce -7.0% | 0.08% | −0.05 |
| CSL Carlisle Cos Inc. | Reduce -3.4% | 0.14% | −0.04 |
| BEPC Brookfield Renewable Corp. | Reduce -3.5% | 0.19% | −0.04 |
| WMB Williams Cos Inc. | Reduce -30.8% | 0.05% | −0.04 |
| CLS Celestica Inc. | Reduce -44.0% | 0.16% | −0.04 |
| KSA Ishrs MSCI Saudi Arabia ETF | Reduce -0.4% | 0.08% | −0.04 |
| HAPN Happen Inc. | Reduce -3.5% | 0.16% | −0.04 |
| AGCO Agco Corp. | Reduce -3.5% | 0.13% | −0.04 |
| SRE Sempra | Reduce -3.5% | 0.10% | −0.03 |
| LEGH Legacy Housing Corp. | Reduce -3.5% | 0.06% | −0.03 |
| PKG Packaging Corp. of America | Reduce -91.1% | 0.00% | −0.03 |
| POWI Power Integrations Inc. | Reduce -3.5% | 0.11% | −0.03 |
| P Everpure Inc. Class A | Reduce -11.2% | 0.16% | −0.03 |
| COR Cencora Inc. | Reduce -5.0% | 0.08% | −0.03 |
| WEC WEC Energy Group Inc. | Reduce -40.5% | 0.02% | −0.03 |
| WPM Wheaton Precious Metals Corp. | Reduce -41.7% | 0.03% | −0.03 |
| JNJ Johnson & Johnson | Reduce -0.0% | 0.05% | −0.03 |
| BERY Berry Global Group Inc. | Sold out | 0.00% | −0.03 |
| BECN Beacon Roofing Supply Inc. | Sold out | 0.00% | −0.03 |
| DAR Darling Ingredients Inc. | Reduce -1.5% | 0.17% | −0.03 |
| GTLS Chart Industries Inc. | Reduce -5.2% | 0.09% | −0.02 |
| ARES Ares Management Corp. Class A | Reduce -45.8% | 0.02% | −0.02 |
| TREX Trex Company Inc. | Reduce -4.0% | 0.04% | −0.02 |
| MANH Manhattan Associates Inc. | Reduce -64.7% | 0.01% | −0.02 |
| UNM Unum Group | Reduce -14.8% | 0.03% | −0.02 |
| BN Brookfield Corp. | Reduce -2.1% | 0.11% | −0.02 |
| U Unity Software Inc. | Reduce -6.6% | 0.11% | −0.02 |
| CNQ Canadian Natural Resources | Reduce -5.2% | 0.04% | −0.02 |
| JXN Jackson Financial Inc. Class A | Reduce -66.4% | 0.01% | −0.02 |
| VTLE Vital Energy Inc. | Reduce -4.2% | 0.02% | −0.02 |
| SLAB Silicon Laboratories Inc. | Reduce -13.0% | 0.08% | −0.02 |
| FOX Fox Corp. Class B | Reduce -6.6% | 0.03% | −0.02 |
| PRI Primerica Inc. | Reduce -14.8% | 0.02% | −0.02 |
| CSIQ Canadian Solar Inc. | Reduce -99.3% | 0.00% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +26.2% | 6.79% | +1.72 |
| MSFT Microsoft Corp. | Add +25.9% | 6.00% | +1.06 |
| AVGO Broadcom Inc. | Add +31.6% | 2.12% | +0.77 |
| META Meta Platforms Inc. Class A | Add +25.3% | 2.87% | +0.41 |
| COF Capital One Financial Corp. | Add +345.5% | 0.33% | +0.24 |
| TSLA Tesla Inc. | Add +31.9% | 1.38% | +0.21 |
| NFLX Netflix Inc. | Add +32.9% | 0.65% | +0.18 |
| AMZN Amazon.com Inc. | Add +23.4% | 3.98% | +0.13 |
| AMAT Applied Materials Inc. | Add +56.4% | 0.43% | +0.13 |
| JPM JPMorgan Chase & Co. | Add +36.5% | 0.87% | +0.13 |
| ORCL Oracle Corp. | Add +47.4% | 0.29% | +0.12 |
| DIS The Walt Disney Co. | Add +127.9% | 0.23% | +0.12 |
| INTU Intuit Inc. | Add +30.1% | 0.67% | +0.12 |
| ENB Enbridge Inc. | Add +104.0% | 0.32% | +0.11 |
| AMD Advanced Micro Devices | Add +43.5% | 0.35% | +0.11 |
| GE General Electric | Add +61.5% | 0.31% | +0.10 |
| IBM Intl Business Machines Corp. | Add +73.5% | 0.29% | +0.10 |
| UUUU Energy Fuels Inc. | Add +149.2% | 0.15% | +0.10 |
| ADBE Adobe Inc. | Add +93.5% | 0.32% | +0.09 |
| PLTR Palantir Technologies Inc. Class A | Add +132.5% | 0.15% | +0.09 |
| GEV GE Vernova Inc. | Add +118.8% | 0.13% | +0.08 |
| GOOG Alphabet Inc. Class C | Add +26.6% | 1.74% | +0.08 |
| GOOGL Alphabet Inc. Class A | Add +28.4% | 1.21% | +0.07 |
| MRVL Marvell Technology Inc. | Add +155.3% | 0.13% | +0.07 |
| BAC Bank of America Corp. | Add +119.4% | 0.16% | +0.07 |
| MU Micron Technology Inc. | Add +57.7% | 0.19% | +0.07 |
| RBA RB Global Inc. | Add +330.9% | 0.10% | +0.07 |
| BR Broadridge Financial Solutio | Add +87.9% | 0.25% | +0.07 |
| TD Toronto-Dominion Bank | Add +74.0% | 0.19% | +0.07 |
| CEG Constellation Energy | Add +20.7% | 0.23% | +0.07 |
| PM Philip Morris International | Add +44.0% | 0.40% | +0.07 |
| NDAQ Nasdaq Inc. | Add +113.4% | 0.14% | +0.07 |
| AXP American Express Co. | Add +41.9% | 0.36% | +0.07 |
| DRI Darden Restaurants Inc. | Add +92.6% | 0.20% | +0.06 |
| HON Honeywell International Inc. | Add +66.8% | 0.24% | +0.06 |
| LOW Lowe's Cos Inc. | Add +100.7% | 0.21% | +0.06 |
| RTX RTX Corp. | Add +79.1% | 0.19% | +0.06 |
| CM Can Imperial BK of Commerce | Add +120.4% | 0.12% | +0.06 |
| KO The Coca-Cola Co. | Add +76.7% | 0.26% | +0.06 |
| NOW ServiceNow Inc. | Add +15.2% | 0.68% | +0.05 |
| BMO Bank of Montreal | Add +119.9% | 0.11% | +0.05 |
| SHOP Shopify Inc. Class A | Add +57.9% | 0.18% | +0.05 |
| FTS Fortis Inc. | Add +121.3% | 0.12% | +0.05 |
| MO Altria Group Inc. | Add +120.2% | 0.13% | +0.05 |
| ICE Intercontinental Exchange Inc. | Add +63.0% | 0.23% | +0.05 |
| HWM Howmet Aerospace Inc. | Add +135.6% | 0.08% | +0.05 |
| TXN Texas Instruments Inc. | Add +64.9% | 0.16% | +0.05 |
| FERG Ferguson Enterprises Inc. | Add +29.4% | 0.20% | +0.04 |
| SYF Synchrony Financial | Add +36.4% | 0.22% | +0.04 |
| VST Vistra Corp. | Add +45.3% | 0.10% | +0.04 |
Notes & Other Activity Q1 2025 → Q2 2025
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | New | 1,150 | $9K |
| UDR Udr Inc. | COM | Reduce -100.0% | 0 | $0 |
| OR Osisko Gold Royalties Ltd. | COM | Reduce -100.0% | 0 | $0 |
| B Barrick Gold Corp. | COM | Reduce -100.0% | 0 | $0 |
| AEE Ameren Corporation | COM | New | 0 | $0 |
| BBWI Bath & Body Works Inc. | COM | New | 0 | $0 |
| CE Celanese Corp. | COM | New | 0 | $0 |
| CIO City Office REIT Inc. | COM | New | 0 | $0 |
| EMR Emerson Electric Co. | COM | New | 0 | $0 |
| GROY Gold Royalty Corp. | COMMON SHARES | New | 0 | $0 |
| DOC Healthpeak Properties Inc. | COM | New | 0 | $0 |
| HII Huntington Ingalls Industrie | COM | New | 0 | $0 |
| IMO Imperial Oil Ltd. | COM NEW | New | 0 | $0 |
| ACWI iShares MSCI Acwi ETF | MSCI ACWI ETF | New | 0 | $0 |
| MFC Manulife Financial Corp. | COM | New | 0 | $0 |
| TAP Molson Coors Beverage Co. Class B | CL B | New | 0 | $0 |
| MOS The Mosaic Co. | COM | New | 0 | $0 |
| NDSN Nordson Corp. | COM | New | 0 | $0 |
| PCH Potlatchdeltic Corp. | COM | New | 0 | $0 |
| QSR Restaurant Brands Intern | COM | New | 0 | $0 |
| RCI Rogers Communications Inc. Class B | CL B | New | 0 | $0 |
| SLG SL Green Realty Corp. | COM | New | 0 | $0 |
| TSM Taiwan Semiconductor-SP ADR | SPONSORED ADS | New | 0 | $0 |
| TFX Teleflex Inc. | COM | New | 0 | $0 |
| TS Tenaris SA-ADR | SPONSORED ADS | New | 0 | $0 |
| TEVA Teva Pharmaceutical-SP ADR | SPONSORED ADS | New | 0 | $0 |
| UMC United Microelectron-SP ADR | SPON ADR NEW | New | 0 | $0 |
| UE Urban Edge Properties | COM | New | 0 | $0 |
| PARAA Paramount Global Class B | CLASS B COM | New | 0 | $0 |
| VNO Vornado Realty Trust | SH BEN INT | New | 0 | $0 |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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 |