Swiss Life Asset Management Ltd
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed December 9, 2025), Swiss Life Asset Management Ltd reported 531 stock positions worth $7.2 billion. Its top holding was Microsoft (MSFT) at 6.6% of the portfolio, followed by Apple (AAPL, 5.0%) and iShares MSCI Emerging Market (EEM, 4.9%). Compared with Q4 2023, it opened 7 new positions, sold out of 105, added to 103 and reduced 420. The biggest buy was Altria (MO, shares +372%) and the biggest sale Apple (AAPL, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- Zurich, V8
- CIK
- 0001637689
- Portfolio Value
- $7.2B (Q1 2024)
- SEC Filing
- 0001172661-25-005248 ↗ filed Dec 9, 2025
Holdings Value
Holdings 531 stocks · $7.2B
| MSFT Microsoft Corp. | 6.65% | 1,137,169 | $478.4M | Reduce -14.7% |
| AAPL Apple Inc. | 5.00% | 2,095,762 | $359.4M | Reduce -20.2% |
| EEM iShares MSCI Emerging Market | 4.94% | 8,648,266 | $355.3M | No change |
| NVDA Nvidia Corp. | 4.80% | 381,900 | $345.1M | Reduce -17.8% |
| AMZN Amazon.com Inc. | 3.27% | 1,303,405 | $235.1M | Reduce -16.5% |
| META Meta Platforms Inc. Class A | 1.98% | 292,863 | $142.2M | Reduce -21.5% |
| GOOGL Alphabet Inc. Class A | 1.89% | 899,564 | $135.8M | Reduce -20.0% |
| MO Altria Group Inc. | 1.70% | 2,802,961 | $122.3M | Add +372.2% |
| GOOG Alphabet Inc. Class C | 1.52% | 717,130 | $109.2M | Reduce -23.2% |
| AVGO Broadcom Inc. | 1.42% | 77,237 | $102.4M | Reduce -8.6% |
| LLY Eli Lilly & Co. | 1.35% | 124,898 | $97.2M | Reduce -9.1% |
| UNH Unitedhealth Group Inc. | 1.28% | 186,080 | $92.1M | Reduce -6.0% |
| VZ Verizon Communications Inc. | 1.04% | 1,783,090 | $74.8M | Add +32.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.02% | 382,873 | $73.1M | Add +60.0% |
| COST Costco Wholesale Corp. | 1.00% | 98,401 | $72.1M | Add +51.7% |
| JPM JPMorgan Chase & Co. | 1.00% | 358,808 | $71.9M | Reduce -33.3% |
| HD Home Depot Inc. | 0.98% | 184,458 | $70.8M | Reduce -5.1% |
| ABBV Abbvie Inc. | 0.97% | 384,217 | $70.0M | Add +10.9% |
| TSLA Tesla Inc. | 0.94% | 386,620 | $68.0M | Reduce -15.9% |
| JNJ Johnson & Johnson | 0.93% | 423,728 | $67.0M | Reduce -12.8% |
| MMM 3M Co. | 0.79% | 538,815 | $57.2M | Add +94.5% |
| V Visa Inc. Class A | 0.77% | 198,084 | $55.3M | Reduce -36.8% |
| DOW Dow Inc. | 0.72% | 894,441 | $51.8M | Add +373.9% |
| MRK Merck & Co. Inc. | 0.71% | 386,684 | $51.0M | Reduce -23.9% |
| XOM Exxon Mobil Corp. | 0.71% | 437,532 | $50.9M | Reduce -35.9% |
| CRM Salesforce Inc. | 0.68% | 162,123 | $48.8M | Reduce -10.3% |
| MA Mastercard Inc. Class A | 0.67% | 100,000 | $48.2M | Reduce -25.3% |
| BLK BlackRock Finance Inc. | 0.65% | 56,113 | $46.8M | Add +79.0% |
| BX Blackstone Inc. | 0.64% | 349,874 | $46.0M | Add +866.7% |
| PM Philip Morris International | 0.62% | 488,919 | $44.8M | Add +75.3% |
| INTU Intuit Inc. | 0.62% | 68,426 | $44.5M | Add +18.2% |
| PG The Procter & Gamble Co. | 0.60% | 264,247 | $42.9M | Reduce -40.3% |
| ADBE Adobe Inc. | 0.59% | 83,829 | $42.3M | Reduce -12.5% |
| TXN Texas Instruments Inc. | 0.59% | 241,845 | $42.1M | Add +12.0% |
| UPS United Parcel Service Class B | 0.56% | 272,229 | $40.5M | Add +82.7% |
| AMD Advanced Micro Devices | 0.56% | 222,818 | $40.2M | Reduce -16.4% |
| T AT&T Inc. | 0.56% | 2,271,072 | $40.0M | Add +80.3% |
| MCD McDonald's Corp. | 0.53% | 136,406 | $38.5M | Add +12.0% |
| ACN Accenture PLC Class A | 0.53% | 110,295 | $38.2M | Reduce -6.2% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.53% | 312,408 | $38.1M | Add +184.9% |
| ORCL Oracle Corp. | 0.52% | 299,609 | $37.6M | Add +4.0% |
| QCOM Qualcomm Inc. | 0.51% | 216,670 | $36.7M | Add +10.9% |
| DRI Darden Restaurants Inc. | 0.50% | 216,414 | $36.2M | Add +287.6% |
| FAST Fastenal Co. | 0.50% | 464,171 | $35.8M | Add +126.0% |
| NFLX Netflix Inc. | 0.50% | 58,781 | $35.7M | Reduce -27.4% |
| ADP Automatic Data Processing | 0.48% | 137,036 | $34.2M | Add +25.8% |
| GILD Gilead Sciences Inc. | 0.46% | 456,581 | $33.4M | Add +0.3% |
| NOW ServiceNow Inc. | 0.46% | 43,722 | $33.3M | Reduce -4.6% |
| CVX Chevron Corp. | 0.46% | 209,859 | $33.1M | Reduce -19.3% |
| CSCO Cisco Systems Inc. | 0.46% | 657,316 | $32.8M | Reduce -34.0% |
| PFE Pfizer Inc. | 0.46% | 1,180,776 | $32.8M | Add +0.1% |
| MS Morgan Stanley | 0.45% | 346,186 | $32.6M | Add +50.9% |
| SO The Southern Co. | 0.45% | 452,496 | $32.5M | Add +102.9% |
| LYB Lyondellbasell Indu Class A | 0.45% | 315,780 | $32.3M | Add +176.7% |
| AMGN Amgen Inc. | 0.45% | 113,231 | $32.2M | Reduce -13.0% |
| PGR Progressive Corp. | 0.44% | 151,385 | $31.3M | Add +14.0% |
| LRCX Lam Research Corp. | 0.43% | 31,744 | $30.8M | Reduce -19.7% |
| PAYX Paychex Inc. | 0.42% | 247,981 | $30.5M | Add +139.3% |
| OKE Oneok Inc. | 0.42% | 375,553 | $30.1M | Add +82.5% |
| BMY Bristol-Myers Squibb Co. | 0.41% | 546,584 | $29.6M | Reduce -2.9% |
| CAT Caterpillar Inc. | 0.40% | 78,734 | $28.9M | Reduce -11.3% |
| ETN Eaton Corp. PLC | 0.40% | 92,085 | $28.8M | Reduce -0.1% |
| KMI Kinder Morgan Inc. | 0.38% | 1,496,589 | $27.4M | Add +115.5% |
| UNP Union Pacific Corp. | 0.37% | 107,519 | $26.4M | Add +12.3% |
| USB US Bancorp | 0.34% | 541,953 | $24.2M | Add +82.2% |
| MDT Medtronic PLC | 0.33% | 276,292 | $24.1M | Add +24.0% |
| UBER Uber Technologies Inc. | 0.33% | 312,012 | $24.0M | Add +166.5% |
| AMCR Amcor PLC | 0.32% | 2,401,246 | $22.8M | Add +76.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.32% | 54,300 | $22.8M | Reduce -74.7% |
| SBUX Starbucks Corp. | 0.32% | 248,136 | $22.7M | Add +21.0% |
| ABT Abbott Laboratories | 0.31% | 196,427 | $22.3M | Reduce -25.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.31% | 42,400 | $22.2M | Add +3.7% |
| CMCSA Comcast Corp. Class A | 0.31% | 508,869 | $22.1M | Reduce -46.1% |
| WMB Williams Cos Inc. | 0.31% | 564,265 | $22.0M | Add +96.3% |
| DVN Devon Energy Corp. | 0.30% | 435,281 | $21.8M | Add +71.5% |
| NEE Nextera Energy Inc. | 0.30% | 340,203 | $21.7M | Reduce -10.6% |
| BBY Best Buy Co. Inc. | 0.30% | 262,615 | $21.5M | Add +79.4% |
| CAH Cardinal Health Inc. | 0.30% | 192,432 | $21.5M | Add +187.2% |
| TT Trane Technologies PLC | 0.30% | 71,575 | $21.5M | Reduce -18.2% |
| TGT Target Corp. | 0.29% | 116,626 | $20.7M | Reduce -20.0% |
| CME Cme Group Inc. | 0.29% | 95,683 | $20.6M | Add +131.2% |
| AFL Aflac Inc. | 0.28% | 236,878 | $20.3M | Add +40.9% |
| INTC Intel Corp. | 0.27% | 442,784 | $19.6M | Reduce -39.2% |
| NXPI NXP Semiconductors NV | 0.27% | 78,531 | $19.5M | Add +23.8% |
| D Dominion Energy Inc. | 0.27% | 387,810 | $19.1M | Add +154.7% |
| ALL Allstate Corp. | 0.26% | 107,554 | $18.6M | Add +91.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.26% | 181,952 | $18.5M | Reduce -25.9% |
| TFC Truist Financial Corp. | 0.26% | 471,946 | $18.4M | Add +62.7% |
| PCAR Paccar Inc. | 0.25% | 142,579 | $17.7M | Add +544.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 143,640 | $17.6M | Reduce -51.3% |
| ADI Analog Devices Inc. | 0.24% | 88,801 | $17.6M | Reduce -8.4% |
| WMT Walmart Inc. | 0.24% | 285,673 | $17.2M | Reduce -55.2% |
| FIS Fidelity National Info Serv | 0.24% | 229,017 | $17.0M | Add +59.9% |
| SPGI S&P Global Inc. | 0.24% | 39,916 | $17.0M | Reduce -22.8% |
| AMAT Applied Materials Inc. | 0.24% | 82,258 | $17.0M | Reduce -58.3% |
| AXP American Express Co. | 0.23% | 74,098 | $16.9M | Reduce -50.9% |
| KEY Keycorp | 0.23% | 1,060,748 | $16.8M | Add +374.1% |
| CDNS Cadence Design SYS Inc. | 0.23% | 53,777 | $16.7M | Reduce -8.9% |
| NEM Newmont Corp. | 0.23% | 458,029 | $16.4M | Add +120.6% |
| RTX RTX Corp. | 0.23% | 167,530 | $16.3M | Reduce -45.1% |
Portfolio Sells Q4 2023 → Q1 2024
| AAPL Apple Inc. | Reduce -20.2% | 5.00% | −1.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -74.7% | 0.32% | −0.60 |
| KO The Coca-Cola Co. | Reduce -80.3% | 0.13% | −0.43 |
| TSLA Tesla Inc. | Reduce -15.9% | 0.94% | −0.43 |
| PEP Pepsico Inc. | Reduce -78.0% | 0.14% | −0.39 |
| BAC Bank of America Corp. | Reduce -73.7% | 0.14% | −0.28 |
| LIN Linde PLC | Reduce -71.8% | 0.15% | −0.25 |
| PXD Pioneer Natural Resources Co. | Reduce -86.6% | 0.05% | −0.25 |
| TMO Thermo Fisher Scientific Inc. | Reduce -73.9% | 0.12% | −0.24 |
| ZTS Zoetis Inc. | Reduce -81.1% | 0.05% | −0.24 |
| WM Waste Management Inc. | Reduce -78.7% | 0.09% | −0.22 |
| V Visa Inc. Class A | Reduce -36.8% | 0.77% | −0.21 |
| WFC Wells Fargo & Co. | Reduce -79.6% | 0.08% | −0.21 |
| DHR Danaher Corp. | Reduce -73.4% | 0.10% | −0.20 |
| CMCSA Comcast Corp. Class A | Reduce -46.1% | 0.31% | −0.19 |
| LOW Lowe's Cos Inc. | Reduce -76.8% | 0.08% | −0.18 |
| PG The Procter & Gamble Co. | Reduce -40.3% | 0.60% | −0.18 |
| PLD Prologis Inc. | Reduce -77.8% | 0.06% | −0.18 |
| RSG Republic Services Inc. | Reduce -74.5% | 0.09% | −0.18 |
| BKNG Booking Holdings Inc. | Reduce -56.6% | 0.19% | −0.18 |
| CTRA Coterra Energy Inc. | Reduce -97.5% | 0.01% | −0.18 |
| INTC Intel Corp. | Reduce -39.2% | 0.27% | −0.17 |
| APD Air Products & Chemicals Inc. | Reduce -75.8% | 0.05% | −0.17 |
| MRSH Marsh & McLennan Cos | Reduce -65.6% | 0.13% | −0.16 |
| WMT Walmart Inc. | Reduce -55.2% | 0.24% | −0.16 |
| XYL Xylem Inc. | Reduce -93.2% | 0.02% | −0.16 |
| ELV Elevance Health Inc. | Reduce -64.5% | 0.13% | −0.16 |
| DE Deere & Co. | Reduce -77.3% | 0.06% | −0.15 |
| CSCO Cisco Systems Inc. | Reduce -34.0% | 0.46% | −0.15 |
| AMAT Applied Materials Inc. | Reduce -58.3% | 0.24% | −0.15 |
| AMT American Tower Corp. | Reduce -72.3% | 0.06% | −0.15 |
| PEG Public Service Enterprise GP | Reduce -67.6% | 0.10% | −0.15 |
| GE General Electric | Reduce -76.2% | 0.09% | −0.14 |
| PNC PNC Financial Services Group | Reduce -77.3% | 0.05% | −0.14 |
| BA The Boeing Co. | Reduce -55.7% | 0.08% | −0.14 |
| URI United Rentals Inc. | Reduce -70.4% | 0.10% | −0.14 |
| KHC The Kraft Heinz Co. | Reduce -88.8% | 0.02% | −0.13 |
| NKE Nike Inc. Class B | Reduce -54.7% | 0.11% | −0.13 |
| WFG West Fraser Timber Co. Ltd. | Sold out | 0.00% | −0.12 |
| SPG Simon Property Group Inc. | Reduce -87.3% | 0.02% | −0.12 |
| NDAQ Nasdaq Inc. | Reduce -92.6% | 0.01% | −0.12 |
| PSA Public Storage | Reduce -87.1% | 0.02% | −0.12 |
| DFS Discover Financial Services | Reduce -80.5% | 0.04% | −0.12 |
| PPG PPG Industries Inc. | Reduce -60.9% | 0.09% | −0.12 |
| CI The Cigna Group | Reduce -59.2% | 0.16% | −0.12 |
| SHW The Sherwin-Williams Co. | Reduce -70.0% | 0.07% | −0.12 |
| IEX Idex Corp. | Reduce -92.3% | 0.01% | −0.12 |
| PYPL PayPal Holdings Inc. | Reduce -80.7% | 0.04% | −0.12 |
| XOM Exxon Mobil Corp. | Reduce -35.9% | 0.71% | −0.11 |
| JNPR Juniper Networks Inc. | Reduce -88.7% | 0.02% | −0.11 |
Portfolio Buys Q4 2023 → Q1 2024
| MO Altria Group Inc. | Add +372.2% | 1.70% | +1.41 |
| DOW Dow Inc. | Add +373.9% | 0.72% | +0.60 |
| BX Blackstone Inc. | Add +866.7% | 0.64% | +0.58 |
| IBM Intl Business Machines Corp. | Add +60.0% | 1.02% | +0.55 |
| COST Costco Wholesale Corp. | Add +51.7% | 1.00% | +0.49 |
| VZ Verizon Communications Inc. | Add +32.6% | 1.04% | +0.43 |
| MMM 3M Co. | Add +94.5% | 0.79% | +0.43 |
| DRI Darden Restaurants Inc. | Add +287.6% | 0.50% | +0.39 |
| TROW T Rowe Price Group Inc. | Add +184.9% | 0.53% | +0.39 |
| BLK BlackRock Finance Inc. | Add +79.0% | 0.65% | +0.34 |
| FAST Fastenal Co. | Add +126.0% | 0.50% | +0.34 |
| ABBV Abbvie Inc. | Add +10.9% | 0.97% | +0.33 |
| LYB Lyondellbasell Indu Class A | Add +176.7% | 0.45% | +0.32 |
| PM Philip Morris International | Add +75.3% | 0.62% | +0.31 |
| T AT&T Inc. | Add +80.3% | 0.56% | +0.30 |
| UPS United Parcel Service Class B | Add +82.7% | 0.56% | +0.28 |
| PAYX Paychex Inc. | Add +139.3% | 0.42% | +0.27 |
| SO The Southern Co. | Add +102.9% | 0.45% | +0.26 |
| UBER Uber Technologies Inc. | Add +166.5% | 0.33% | +0.25 |
| OKE Oneok Inc. | Add +82.5% | 0.42% | +0.24 |
| KMI Kinder Morgan Inc. | Add +115.5% | 0.38% | +0.23 |
| PCAR Paccar Inc. | Add +544.0% | 0.25% | +0.22 |
| CAH Cardinal Health Inc. | Add +187.2% | 0.30% | +0.22 |
| MS Morgan Stanley | Add +50.9% | 0.45% | +0.20 |
| KEY Keycorp | Add +374.1% | 0.23% | +0.19 |
| WMB Williams Cos Inc. | Add +96.3% | 0.31% | +0.19 |
| INTU Intuit Inc. | Add +18.2% | 0.62% | +0.18 |
| USB US Bancorp | Add +82.2% | 0.34% | +0.18 |
| CME Cme Group Inc. | Add +131.2% | 0.29% | +0.18 |
| PGR Progressive Corp. | Add +14.0% | 0.44% | +0.18 |
| D Dominion Energy Inc. | Add +154.7% | 0.27% | +0.18 |
| ADP Automatic Data Processing | Add +25.8% | 0.48% | +0.17 |
| QCOM Qualcomm Inc. | Add +10.9% | 0.51% | +0.17 |
| DVN Devon Energy Corp. | Add +71.5% | 0.30% | +0.17 |
| ALL Allstate Corp. | Add +91.8% | 0.26% | +0.16 |
| BBY Best Buy Co. Inc. | Add +79.4% | 0.30% | +0.16 |
| AMCR Amcor PLC | Add +76.9% | 0.32% | +0.16 |
| ORCL Oracle Corp. | Add +4.0% | 0.52% | +0.16 |
| BEN Franklin Templeton Inc. | Add +1273.7% | 0.17% | +0.16 |
| STX Seagate Technology Holdings | Add +668.3% | 0.17% | +0.15 |
| PFG Principal Financial Group | Add +210.7% | 0.20% | +0.15 |
| TXN Texas Instruments Inc. | Add +12.0% | 0.59% | +0.14 |
| WHR Whirlpool Corp. | Add +203.5% | 0.20% | +0.14 |
| FANG Diamondback Energy Inc. | Add +91.2% | 0.21% | +0.13 |
| FIS Fidelity National Info Serv | Add +59.9% | 0.24% | +0.13 |
| TFC Truist Financial Corp. | Add +62.7% | 0.26% | +0.13 |
| GRMN Garmin Ltd. | Add +854.8% | 0.14% | +0.13 |
| NEM Newmont Corp. | Add +120.6% | 0.23% | +0.12 |
| AFL Aflac Inc. | Add +40.9% | 0.28% | +0.12 |
| IP International Paper Co. | Add +178.9% | 0.16% | +0.12 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,610 | $23.6B | NVDA, AAPL, MSFT, GOOGL, AVGO |
| Q1 2026 | 1,506 | $20.4B | NVDA, AAPL, MSFT, GOOGL, AMZN |
| Q4 2025 | 1,381 | $19.6B | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q3 2025 | 1,192 | $19.2B | NVDA, MSFT, AAPL, GOOGL, META |
| Q2 2025 | 854 | $16.5B | NVDA, MSFT, AAPL, META, AMZN |
| Q1 2025 | 706 | $13.8B | MSFT, NVDA, AAPL, AMZN, META |
| Q4 2024 | 706 | $13.6B | NVDA, MSFT, AAPL, EEM, AMZN |
| Q3 2024 | 628 | $8.8B | AAPL, MSFT, NVDA, EEM, AMZN |
| Q2 2024 | 585 | $8.5B | MSFT, NVDA, AAPL, EEM, AMZN |
| Q1 2024 | 531 | $7.2B | MSFT, AAPL, EEM, NVDA, AMZN |