Sienna Gestion

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 6, 2025), Sienna Gestion reported 159 stock positions worth $1.5 billion. Its top holding was Nvidia (NVDA) at 7.1% of the portfolio, followed by Microsoft (MSFT, 6.6%) and Apple (AAPL, 5.4%). Compared with Q1 2025, it opened 5 new positions, sold out of 5, added to 98 and reduced 2. The biggest buy was a new position in Deutsche Bank AG-Registered (DB) and the biggest sale an exit from BlackRock Invest QLTY Muni (XBKNX).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0002021242
Portfolio Value
$1.5B (Q2 2025)
SEC Filing
0000945621-25-000651 ↗ filed Aug 6, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.2B Q1 2024 Q2 2024: $1.1B Q2 2024 Q3 2024: $1.5B Q3 2024 Q4 2024: $1.5B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.5B $1.5B Q2 2025 Q3 2025: $1.4B Q3 2025 Q4 2025: $1.7B Q4 2025 Q1 2026: $1.5B Q1 2026 Q2 2026: $1.7B Q2 2026

Holdings 159 stocks · $1.5B
NVDA Nvidia Corp. 7.08% 713,916 $103.0M Add +11.8%
MSFT Microsoft Corp. 6.59% 211,001 $95.8M Add +9.1%
AAPL Apple Inc. 5.38% 417,772 $78.3M Add +7.4%
AMZN Amazon.com Inc. 3.42% 248,226 $49.7M Add +7.7%
AVGO Broadcom Inc. 2.65% 153,329 $38.6M Add +10.2%
DB Deutsche Bank AG-Registered 2.37% 1,275,537 $34.4M New
JPM JPMorgan Chase & Co. 1.60% 87,773 $23.2M Add +10.1%
HD Home Depot Inc. 1.59% 69,238 $23.2M Add +10.5%
PG The Procter & Gamble Co. 1.49% 148,899 $21.7M Add +10.0%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM 1.42% 319,121 $20.6M Add +10.4%
BKNG Booking Holdings Inc. 1.35% 3,700 $19.6M Add +10.5%
AMAT Applied Materials Inc. 1.30% 113,221 $18.9M Add +10.2%
ACN Accenture PLC Class A 1.30% 69,345 $18.9M Add +10.8%
TD Toronto-Dominion Bank 1.27% 274,559 $18.4M Add +11.0%
INTU Intuit Inc. 1.26% 25,446 $18.3M Add +10.0%
JNJ Johnson & Johnson 1.25% 130,054 $18.1M Add +9.9%
UBS UBS Group AG-Reg 1.22% 577,949 $17.8M New
COST Costco Wholesale Corp. 1.18% 18,961 $17.1M Add +10.5%
AXP American Express Co. 1.11% 55,265 $16.1M Add +10.7%
AMP Ameriprise Financial Inc. 1.00% 29,750 $14.5M Add +10.9%
BLK BlackRock Inc. 0.99% 15,086 $14.5M New
LLY Eli Lilly & Co. 0.99% 20,289 $14.4M Add +10.0%
UBER Uber Technologies Inc. 0.99% 168,420 $14.3M Add +10.6%
CSCO Cisco Systems Inc. 0.98% 223,888 $14.2M Add +11.0%
CMI Cummins Inc. 0.92% 44,490 $13.3M Add +9.9%
CRM Salesforce Inc. 0.83% 48,728 $12.1M Add +10.6%
FFIV F5 Inc. 0.81% 43,679 $11.7M Add +11.0%
BR Broadridge Financial Solutio 0.81% 52,784 $11.7M Add +9.9%
BKR Baker Hughes Co. 0.80% 331,764 $11.6M Add +11.0%
CAT Caterpillar Inc. 0.80% 32,638 $11.6M Add +10.1%
V Visa Inc. Class A 0.78% 34,969 $11.3M Add +11.0%
EBAY eBay Inc. 0.78% 166,743 $11.3M Add +11.0%
SLF Sun Life Financial Inc. 0.78% 186,385 $11.3M Add +11.0%
PNR Pentair PLC 0.77% 119,672 $11.2M Add +10.8%
CMCSA Comcast Corp. Class A 0.77% 343,574 $11.2M Add +11.0%
TT Trane Technologies PLC 0.76% 27,803 $11.1M Add +10.3%
MTB M & T Bank Corp. filed as M & T BK CORP 0.75% 61,168 $10.8M Add +11.0%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.74% 121,719 $10.7M Add +10.2%
ISRG Intuitive Surgical Inc. 0.73% 21,369 $10.6M Add +10.3%
MCD McDonald's Corp. 0.72% 39,342 $10.5M Add +11.0%
AEM Agnico Eagle Mines Ltd. 0.71% 95,400 $10.4M Add +10.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.68% 36,780 $9.9M New
VZ Verizon Communications Inc. 0.67% 247,641 $9.8M Add +10.4%
TRV The Travelers Cos Inc. 0.67% 39,927 $9.8M Add +11.5%
AVB Avalonbay Communities Inc. 0.67% 52,349 $9.7M Add +11.0%
COF Capital One Financial Corp. 0.67% 50,047 $9.7M New
ATO Atmos Energy Corp. 0.66% 68,217 $9.6M Add +9.0%
SNA Snap-on Inc. 0.65% 33,458 $9.5M Add +10.1%
ETR Entergy Corp. 0.64% 122,219 $9.3M Add +10.0%
RCL Royal Caribbean Cruises Ltd. 0.64% 32,342 $9.2M Add +9.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.62% 79,902 $9.0M Add +11.0%
STT State Street Corp. 0.61% 91,956 $8.9M Add +10.0%
ADBE Adobe Inc. 0.61% 25,120 $8.9M Add +10.7%
PANW Palo Alto Networks Inc. 0.60% 46,545 $8.7M Add +10.2%
VLO Valero Energy Corp. 0.59% 69,350 $8.5M Add +11.0%
A Agilent Technologies Inc. 0.58% 78,534 $8.5M Add +10.3%
MPC Marathon Petroleum Corp. 0.58% 55,113 $8.4M Add +11.0%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.57% 134,240 $8.3M Add +11.0%
EXPD Expeditors Intl Wash Inc. 0.57% 79,215 $8.3M Add +10.4%
ORCL Oracle Corp. 0.56% 40,420 $8.1M Add +10.0%
KR Kroger Co. 0.55% 121,905 $8.0M Add +10.2%
QCOM Qualcomm Inc. 0.55% 54,833 $8.0M Add +9.7%
WMT Walmart Inc. 0.54% 88,339 $7.9M Add +11.0%
PYPL PayPal Holdings Inc. 0.54% 115,439 $7.8M Add +10.3%
CTSH Cognizant Tech Solutions-A 0.53% 109,132 $7.8M Add +10.0%
FTNT Fortinet Inc. 0.53% 79,988 $7.7M Add +10.1%
UNH Unitedhealth Group Inc. 0.53% 26,813 $7.6M Add +10.1%
KMB Kimberly-Clark Corp. 0.52% 64,286 $7.6M Add +11.0%
LRCX Lam Research Corp. 0.52% 84,670 $7.5M Add +9.2%
HIG Hartford Insurance Group Inc. 0.51% 64,592 $7.5M Add +9.8%
PAYX Paychex Inc. 0.51% 56,127 $7.5M Add +10.0%
AWK American Water Works Co. Inc. 0.51% 58,503 $7.4M Add +11.0%
CMG Chipotle Mexican Grill Inc. 0.51% 144,233 $7.4M Add +11.0%
WM Waste Management Inc. 0.49% 34,349 $7.2M Add +10.8%
EME Emcor Group Inc. 0.49% 14,694 $7.2M Add +11.0%
AMD Advanced Micro Devices 0.49% 54,955 $7.1M Add +11.0%
ANSS Ansys Inc. 0.49% 22,017 $7.1M Add +10.3%
BMY Bristol-Myers Squibb Co. 0.48% 164,188 $6.9M Add +9.6%
CPRT Copart Inc. 0.47% 153,141 $6.9M Add +10.1%
RMD Resmed Inc. 0.47% 29,035 $6.8M Add +10.1%
MKC McCormick & Co.-Non VTG SHRS 0.44% 92,869 $6.4M Add +11.0%
FOX Fox Corp. Class B 0.43% 133,241 $6.3M Add +9.7%
BBY Best Buy Co. Inc. 0.43% 101,470 $6.2M Add +10.3%
HUBB Hubbell Inc. 0.42% 16,406 $6.1M Add +11.0%
SHOP Shopify Inc. Class A 0.42% 57,500 $6.0M Add +11.0%
ELV Elevance Health Inc. 0.41% 16,710 $5.9M Add +9.9%
KO The Coca-Cola Co. 0.40% 89,794 $5.8M Add +11.0%
GILD Gilead Sciences Inc. 0.39% 56,263 $5.7M Add +10.4%
AMGN Amgen Inc. 0.39% 22,311 $5.7M Add +10.7%
JNPR Juniper Networks Inc. 0.39% 155,892 $5.7M Add +11.0%
MU Micron Technology Inc. 0.39% 50,164 $5.6M No change
ANET Arista Networks Inc. 0.39% 60,405 $5.6M No change
PFE Pfizer Inc. 0.39% 253,540 $5.6M Add +11.0%
DAL Delta Air Lines Inc. 0.38% 123,757 $5.6M Add +11.4%
ED Consolidated Edison Inc. 0.37% 59,139 $5.4M Add +11.0%
PLD Prologis Inc. 0.37% 56,078 $5.4M Add +11.0%
CI The Cigna Group 0.37% 17,592 $5.3M Add +11.0%
WBD Warner Bros Discovery Inc. 0.36% 505,484 $5.3M No change
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.36% 31,925 $5.3M Add +11.0%
CNI Canadian Natl Railway Co. 0.36% 55,300 $5.3M Add +11.0%
DOCU Docusign Inc. 0.35% 72,376 $5.1M Add +11.0%
GS Goldman Sachs Group Inc. 0.34% 7,725 $5.0M No change
MFC Manulife Financial Corp. 0.33% 166,739 $4.9M Add +11.1%
REGN Regeneron Pharmaceuticals 0.33% 10,122 $4.9M Add +10.4%
GIB Cgi Inc. 0.33% 50,000 $4.8M Add +11.1%
VEEV Veeva Systems Inc. Class A 0.32% 17,558 $4.6M No change
PSX Phillips 66 0.31% 41,182 $4.5M No change
OKE Oneok Inc. 0.30% 58,683 $4.4M Add +11.0%
GOOGL Alphabet Inc. Class A 0.29% 26,155 $4.2M No change
SNPS Synopsys Inc. 0.28% 8,640 $4.0M No change
STLD Steel Dynamics Inc. 0.28% 34,280 $4.0M No change
IPG Interpublic Group of Cos Inc. 0.27% 174,009 $3.9M No change
GIS General Mills Inc. 0.27% 81,636 $3.9M No change
META Meta Platforms Inc. Class A 0.25% 5,327 $3.6M No change
TMO Thermo Fisher Scientific Inc. 0.25% 9,681 $3.6M No change
LDOS Leidos Holdings Inc. 0.22% 21,869 $3.1M No change
TEAM Atlassian Corp. Class A 0.21% 16,579 $3.1M No change
DECK Deckers Outdoor Corp. 0.16% 25,223 $2.4M No change
TSLA Tesla Inc. 0.15% 7,462 $2.2M Add +20.1%
CCJ Cameco Corp. 0.14% 30,544 $2.1M Reduce -10.9%
CCEP Coca-Cola Europacific Partne 0.14% 23,494 $2.0M No change
MS Morgan Stanley 0.08% 9,346 $1.2M No change
NEM Newmont Corp. 0.07% 19,476 $1.0M Reduce -22.9%
CSX CSX Corp. 0.07% 32,741 $975K No change
GD General Dynamics Corp. 0.06% 3,463 $922K No change
AFL Aflac Inc. 0.06% 9,183 $884K No change
SPG Simon Property Group Inc. 0.06% 5,877 $863K No change
ABBV Abbvie Inc. 0.06% 4,957 $840K No change
AMT American Tower Corp. 0.05% 3,954 $798K No change
EMR Emerson Electric Co. 0.05% 6,015 $732K No change
NFLX Netflix Inc. 0.05% 584 $714K No change
SYF Synchrony Financial 0.05% 11,674 $711K No change
DRI Darden Restaurants Inc. 0.05% 3,536 $704K No change
MCO Moody's Corp. 0.05% 1,514 $693K No change
CAH Cardinal Health Inc. 0.05% 4,275 $656K No change
ZS Zscaler Inc. 0.04% 2,250 $645K No change
LMT Lockheed Martin Corp. 0.04% 1,486 $628K No change
RPM RPM International Inc. 0.04% 6,265 $628K No change
EXPE Expedia Group Inc. 0.04% 3,887 $599K No change
PLTR Palantir Technologies Inc. Class A 0.04% 4,750 $591K No change
NDAQ Nasdaq Inc. 0.04% 7,086 $578K No change
SSNC Ss&c Technologies Holdings 0.04% 7,280 $550K No change
ELS Equity Lifestyle Properties 0.04% 9,750 $549K No change
KEYS Keysight Technologies Inc. 0.04% 3,613 $541K No change
FTS Fortis Inc. 0.04% 12,200 $531K No change
ITW Illinois Tool Works 0.03% 2,000 $451K No change
OC Owens Corning 0.03% 3,582 $450K No change
HII Huntington Ingalls Industrie 0.03% 1,965 $433K No change
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.03% 5,012 $421K No change
KHC The Kraft Heinz Co. 0.03% 17,261 $407K No change
TFII Tfi International Inc. 0.03% 4,800 $393K No change
PH Parker Hannifin Corp. 0.03% 607 $387K No change
DD Dupont DE Nemours Inc. 0.02% 5,790 $363K No change
UHS Universal Health Services-B 0.02% 2,180 $361K No change
TECH Bio-Techne Corp. 0.02% 7,206 $338K No change
AOS Smith (a.o.) Corp. 0.02% 5,375 $322K No change
ECL Ecolab Inc. 0.01% 590 $145K No change
RY Royal Bank of Canada 0.00% 545 $65K No change
PBA Pembina Pipeline Corp. 0.00% 24 $821 No change

Portfolio Sells Q1 2025 → Q2 2025
XBKNX BlackRock Invest QLTY Muni Sold out 0.00% −1.02
INTC Intel Corp. Sold out 0.00% −0.65
DFS Discover Financial Services Sold out 0.00% −0.60
B Barrick Gold Corp. Sold out 0.00% −0.08
HCA HCA Healthcare Inc. Sold out 0.00% −0.03
NEM Newmont Corp. Reduce -22.9% 0.07% −0.02
CCJ Cameco Corp. Reduce -10.9% 0.14% +0.03

Portfolio Buys Q1 2025 → Q2 2025
DB Deutsche Bank AG-Registered New 2.37% +2.37
NVDA Nvidia Corp. Add +11.8% 7.08% +1.64
UBS UBS Group AG-Reg New 1.22% +1.22
BLK BlackRock Inc. New 0.99% +0.99
MSFT Microsoft Corp. Add +9.1% 6.59% +0.89
AVGO Broadcom Inc. Add +10.2% 2.65% +0.82
IBM Intl Business Machines Corp. New 0.68% +0.68
COF Capital One Financial Corp. New 0.67% +0.67
RCL Royal Caribbean Cruises Ltd. Add +9.9% 0.64% +0.16
ORCL Oracle Corp. Add +10.0% 0.56% +0.15
INTU Intuit Inc. Add +10.0% 1.26% +0.14
CM Can Imperial BK of Commerce Add +10.4% 1.42% +0.14
BKNG Booking Holdings Inc. Add +10.5% 1.35% +0.13
AMAT Applied Materials Inc. Add +10.2% 1.30% +0.13
UBER Uber Technologies Inc. Add +10.6% 0.99% +0.11
EME Emcor Group Inc. Add +11.0% 0.49% +0.11
TD Toronto-Dominion Bank Add +11.0% 1.27% +0.10
TT Trane Technologies PLC Add +10.3% 0.76% +0.10
AMD Advanced Micro Devices Add +11.0% 0.49% +0.09
LRCX Lam Research Corp. Add +9.2% 0.52% +0.07
DIS The Walt Disney Co. Add +11.0% 0.62% +0.06
JPM JPMorgan Chase & Co. Add +10.1% 1.60% +0.06
AXP American Express Co. Add +10.7% 1.11% +0.05
HUBB Hubbell Inc. Add +11.0% 0.42% +0.04
PANW Palo Alto Networks Inc. Add +10.2% 0.60% +0.03
PNR Pentair PLC Add +10.8% 0.77% +0.03
SHOP Shopify Inc. Class A Add +11.0% 0.42% +0.03
CAT Caterpillar Inc. Add +10.1% 0.80% +0.03
STT State Street Corp. Add +10.0% 0.61% +0.03
TSLA Tesla Inc. Add +20.1% 0.15% +0.02
SLF Sun Life Financial Inc. Add +11.0% 0.78% +0.02
MPC Marathon Petroleum Corp. Add +11.0% 0.58% +0.01
RMD Resmed Inc. Add +10.1% 0.47% +0.01
PYPL PayPal Holdings Inc. Add +10.3% 0.54% +0.00
DAL Delta Air Lines Inc. Add +11.4% 0.38% +0.00
CSCO Cisco Systems Inc. Add +11.0% 0.98% −0.00
CMG Chipotle Mexican Grill Inc. Add +11.0% 0.51% −0.00
WMT Walmart Inc. Add +11.0% 0.54% −0.01
JNPR Juniper Networks Inc. Add +11.0% 0.39% −0.01
ANSS Ansys Inc. Add +10.3% 0.49% −0.01
FFIV F5 Inc. Add +11.0% 0.81% −0.02
FTNT Fortinet Inc. Add +10.1% 0.53% −0.02
CNI Canadian Natl Railway Co. Add +11.0% 0.36% −0.02
EBAY eBay Inc. Add +11.0% 0.78% −0.02
AMP Ameriprise Financial Inc. Add +10.9% 1.00% −0.02
GIB Cgi Inc. Add +11.1% 0.33% −0.02
AEM Agnico Eagle Mines Ltd. Add +10.3% 0.71% −0.02
ISRG Intuitive Surgical Inc. Add +10.3% 0.73% −0.03
AMZN Amazon.com Inc. Add +7.7% 3.42% −0.03
MTB M & T Bank Corp. Add +11.0% 0.75% −0.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 177$1.7BNVDA, AAPL, MSFT, GOOGL, AVGO
Q1 2026 136$1.5BNVDA, AAPL, MSFT, AVGO, TSLA
Q4 2025 150$1.7BNVDA, MSFT, AMZN, AVGO, JPM
Q3 2025 159$1.4BNVDA, MSFT, AMZN, AVGO, JPM
Q2 2025 159$1.5BNVDA, MSFT, AAPL, AMZN, AVGO
Q1 2025 159$1.2BAAPL, MSFT, NVDA, AMZN, AVGO
Q4 2024 201$1.5BAAPL, NVDA, MSFT, AMZN, AVGO
Q3 2024 207$1.5BMSFT, NVDA, GOOGL, AMAT, HD
Q2 2024 159$1.1BMSFT, NVDA, GOOGL, AMAT, AVGO
Q1 2024Amended 160$1.2BMSFT, NWSA, AAPL, NVDA, AMAT