Swiss Life Asset Management Ltd
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed December 2, 2025), Swiss Life Asset Management Ltd reported 706 stock positions worth $13.8 billion. Its top holding was Microsoft (MSFT) at 6.0% of the portfolio, followed by Nvidia (NVDA, 5.9%) and Apple (AAPL, 5.4%). Compared with Q4 2024, it opened 23 new positions, sold out of 23, added to 549 and reduced 126. The biggest buy was Visa Class A (V, shares +49%) and the biggest sale iShares MSCI Emerging Market (EEM, shares −58%).
- Most Recent 13F
- Q2 2026
- Location
- Zurich, V8
- CIK
- 0001637689
- Portfolio Value
- $13.8B (Q1 2025)
- SEC Filing
- 0001172661-25-005234 ↗ filed Dec 2, 2025
Holdings Value
Holdings 706 stocks · $13.8B
| MSFT Microsoft Corp. | 5.98% | 2,192,594 | $823.1M | Add +10.7% |
| NVDA Nvidia Corp. | 5.90% | 7,487,280 | $811.5M | Add +10.1% |
| AAPL Apple Inc. | 5.42% | 3,354,752 | $745.2M | Add +5.5% |
| AMZN Amazon.com Inc. | 2.95% | 2,130,606 | $405.4M | Add +5.7% |
| META Meta Platforms Inc. Class A | 2.15% | 512,189 | $295.2M | Add +4.5% |
| MO Altria Group Inc. | 2.01% | 4,613,454 | $276.9M | Reduce -0.9% |
| VZ Verizon Communications Inc. | 1.93% | 5,863,811 | $266.0M | Add +2.3% |
| GOOGL Alphabet Inc. Class A | 1.89% | 1,681,385 | $260.0M | Add +8.6% |
| AVGO Broadcom Inc. | 1.63% | 1,337,113 | $223.9M | Add +7.3% |
| EEM iShares MSCI Emerging Market | 1.61% | 5,052,766 | $220.8M | Reduce -58.5% |
| TSLA Tesla Inc. | 1.51% | 799,501 | $207.2M | Add +10.4% |
| GOOG Alphabet Inc. Class C | 1.43% | 1,263,278 | $197.4M | Add +16.1% |
| CME Cme Group Inc. | 1.40% | 728,195 | $193.2M | Add +1.1% |
| ABBV Abbvie Inc. | 1.36% | 892,540 | $187.0M | Add +8.6% |
| LLY Eli Lilly & Co. | 1.32% | 220,395 | $182.0M | Add +12.3% |
| JNJ Johnson & Johnson | 1.27% | 1,052,944 | $174.6M | Add +8.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.09% | 602,613 | $149.8M | Add +6.1% |
| PFE Pfizer Inc. | 1.05% | 5,685,668 | $144.1M | Add +2.2% |
| UPS United Parcel Service Class B | 0.88% | 1,104,316 | $121.5M | Add +2.1% |
| HD Home Depot Inc. | 0.84% | 317,113 | $116.2M | Reduce -1.0% |
| CVX Chevron Corp. | 0.81% | 669,880 | $112.1M | Add +2.6% |
| PM Philip Morris International | 0.81% | 699,068 | $111.0M | Add +2.7% |
| V Visa Inc. Class A | 0.80% | 314,793 | $110.3M | Add +48.6% |
| JPM JPMorgan Chase & Co. | 0.80% | 448,505 | $110.0M | Add +5.0% |
| BLK BlackRock Inc. | 0.73% | 106,160 | $100.5M | Add +5.9% |
| UNH Unitedhealth Group Inc. | 0.71% | 187,124 | $98.0M | Add +7.6% |
| PAYX Paychex Inc. | 0.70% | 620,613 | $95.7M | Add +2.8% |
| XOM Exxon Mobil Corp. | 0.65% | 750,058 | $89.2M | Add +5.0% |
| AMGN Amgen Inc. | 0.63% | 279,099 | $87.0M | Add +7.0% |
| MS Morgan Stanley | 0.62% | 727,779 | $84.9M | Add +4.2% |
| CSCO Cisco Systems Inc. | 0.60% | 1,334,500 | $82.4M | Add +17.3% |
| BX Blackstone Inc. | 0.59% | 580,256 | $81.1M | Add +1.9% |
| MCD McDonald's Corp. | 0.57% | 251,141 | $78.4M | Add +10.2% |
| TXN Texas Instruments Inc. | 0.57% | 435,165 | $78.2M | Add +6.8% |
| NFLX Netflix Inc. | 0.57% | 83,727 | $78.1M | Add +8.1% |
| MDT Medtronic PLC | 0.55% | 846,597 | $76.1M | Add +2.9% |
| PG The Procter & Gamble Co. | 0.54% | 434,310 | $74.0M | Add +29.9% |
| MRK Merck & Co. Inc. | 0.53% | 810,345 | $72.7M | Add +26.2% |
| MA Mastercard Inc. Class A | 0.52% | 131,032 | $71.8M | Add +25.4% |
| CRM Salesforce Inc. | 0.50% | 254,510 | $68.3M | Add +0.9% |
| DRI Darden Restaurants Inc. | 0.50% | 328,729 | $68.3M | Add +2.8% |
| ORCL Oracle Corp. | 0.49% | 479,559 | $67.0M | Add +3.0% |
| DOW Dow Inc. | 0.48% | 1,873,192 | $65.4M | Add +0.7% |
| NOW ServiceNow Inc. | 0.46% | 79,931 | $63.6M | Reduce -2.8% |
| GILD Gilead Sciences Inc. | 0.46% | 558,879 | $62.6M | Add +3.6% |
| PLTR Palantir Technologies Inc. Class A | 0.45% | 733,204 | $61.9M | Add +5.0% |
| ACN Accenture PLC Class A | 0.45% | 197,982 | $61.8M | Add +13.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.45% | 115,378 | $61.4M | Add +48.9% |
| TFC Truist Financial Corp. | 0.45% | 1,489,652 | $61.3M | Add +1.8% |
| QCOM Qualcomm Inc. | 0.43% | 387,399 | $59.5M | Add +4.1% |
| BKNG Booking Holdings Inc. | 0.42% | 12,533 | $57.7M | Add +6.2% |
| GE General Electric filed as GE AEROSPACE | 0.42% | 286,934 | $57.4M | Add +11.6% |
| BMY Bristol-Myers Squibb Co. | 0.42% | 938,216 | $57.2M | Add +5.3% |
| COST Costco Wholesale Corp. | 0.41% | 60,089 | $56.8M | Add +26.5% |
| INTU Intuit Inc. | 0.41% | 92,050 | $56.5M | Add +31.2% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.41% | 614,756 | $56.5M | Reduce -5.5% |
| KMI Kinder Morgan Inc. | 0.38% | 1,829,952 | $52.2M | Add +12.0% |
| ADP Automatic Data Processing | 0.38% | 170,725 | $52.2M | Add +3.2% |
| FAST Fastenal Co. | 0.38% | 669,963 | $52.0M | Add +1.7% |
| USB US Bancorp | 0.38% | 1,223,187 | $51.6M | Add +4.8% |
| KO The Coca-Cola Co. | 0.37% | 704,252 | $50.4M | Add +23.5% |
| PGR Progressive Corp. | 0.37% | 178,023 | $50.4M | Add +8.9% |
| LYB Lyondellbasell Indu Class A | 0.36% | 710,722 | $50.0M | Add +1.4% |
| PFG Principal Financial Group | 0.36% | 586,834 | $49.5M | Add +0.6% |
| UNP Union Pacific Corp. | 0.35% | 206,238 | $48.7M | Add +10.9% |
| ETN Eaton Corp. PLC | 0.35% | 177,188 | $48.2M | Add +5.7% |
| OKE Oneok Inc. | 0.34% | 474,224 | $47.1M | Reduce -8.3% |
| WMT Walmart Inc. | 0.34% | 535,231 | $47.0M | Add +4.2% |
| WMB Williams Cos Inc. | 0.32% | 736,332 | $44.0M | Reduce -2.4% |
| CAT Caterpillar Inc. | 0.31% | 128,454 | $42.4M | Add +9.3% |
| SBUX Starbucks Corp. | 0.30% | 424,739 | $41.7M | Add +4.1% |
| CVS CVS Health Corp. | 0.29% | 586,931 | $39.8M | Add +4.9% |
| ADI Analog Devices Inc. | 0.28% | 192,908 | $38.9M | Add +2.4% |
| AMAT Applied Materials Inc. | 0.28% | 266,805 | $38.7M | Add +5.3% |
| D Dominion Energy Inc. | 0.28% | 678,704 | $38.1M | Add +3.2% |
| FE Firstenergy Corp. | 0.27% | 933,063 | $37.7M | Add +0.7% |
| AMD Advanced Micro Devices | 0.27% | 357,544 | $36.7M | Add +7.9% |
| ADBE Adobe Inc. | 0.26% | 93,792 | $36.0M | Add +35.3% |
| PANW Palo Alto Networks Inc. | 0.26% | 210,045 | $35.8M | Add +7.2% |
| PEP Pepsico Inc. | 0.26% | 237,648 | $35.6M | Add +25.5% |
| AXP American Express Co. | 0.24% | 123,835 | $33.3M | Add +15.7% |
| SPGI S&P Global Inc. | 0.24% | 64,830 | $32.9M | Add +12.8% |
| LIN Linde PLC | 0.24% | 70,165 | $32.7M | Add +23.7% |
| IPG Interpublic Group of Cos Inc. | 0.24% | 1,201,187 | $32.6M | Add +16.5% |
| UBER Uber Technologies Inc. | 0.23% | 443,444 | $32.3M | Reduce -2.9% |
| F Ford Motor Co. filed as FORD MTR CO | 0.23% | 3,132,835 | $31.4M | Add +2.6% |
| ES Eversource Energy | 0.22% | 486,191 | $30.2M | Reduce -1.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.22% | 53,000 | $29.6M | Add +15.2% |
| LRCX Lam Research Corp. | 0.21% | 406,455 | $29.5M | Add +1.8% |
| KMB Kimberly-Clark Corp. | 0.21% | 206,475 | $29.4M | Add +5.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.21% | 82,009 | $28.9M | Add +3.6% |
| T AT&T Inc. | 0.20% | 972,503 | $27.5M | Add +7.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.20% | 650,928 | $27.2M | Add +17.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.20% | 273,894 | $27.0M | Add +26.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.19% | 218,077 | $26.6M | Add +17.8% |
| FISV Fiserv Inc. | 0.19% | 117,927 | $26.0M | Add +60.8% |
| GEV GE Vernova Inc. | 0.19% | 85,088 | $26.0M | Add +6.7% |
| KHC The Kraft Heinz Co. | 0.19% | 852,651 | $25.9M | Reduce -1.6% |
| PCAR Paccar Inc. | 0.19% | 264,220 | $25.7M | Add +4.5% |
| GS Goldman Sachs Group Inc. | 0.19% | 46,961 | $25.7M | Add +69.5% |
Portfolio Sells Q4 2024 → Q1 2025
| EEM iShares MSCI Emerging Market | Reduce -58.5% | 1.61% | −2.15 |
| NOW ServiceNow Inc. | Reduce -2.8% | 0.46% | −0.18 |
| TROW T Rowe Price Group Inc. | Reduce -5.5% | 0.41% | −0.13 |
| ANET Arista Networks Inc. | Reduce -16.3% | 0.16% | −0.12 |
| HD Home Depot Inc. | Reduce -1.0% | 0.84% | −0.07 |
| BBY Best Buy Co. Inc. | Reduce -16.7% | 0.16% | −0.07 |
| HPQ HP Inc. | Reduce -10.4% | 0.16% | −0.05 |
| STT State Street Corp. | Reduce -19.5% | 0.14% | −0.05 |
| PYPL PayPal Holdings Inc. | Reduce -23.3% | 0.07% | −0.05 |
| HPE Hewlett Packard Enterprise | Reduce -50.6% | 0.03% | −0.05 |
| GIS General Mills Inc. | Reduce -33.8% | 0.07% | −0.05 |
| IT Gartner Inc. | Reduce -43.5% | 0.04% | −0.04 |
| NI Nisource Inc. | Reduce -70.6% | 0.02% | −0.04 |
| OKE Oneok Inc. | Reduce -8.3% | 0.34% | −0.04 |
| AMP Ameriprise Financial Inc. | Reduce -35.2% | 0.05% | −0.04 |
| CRH CRH PLC | Reduce -29.2% | 0.07% | −0.04 |
| DVA Davita Inc. | Reduce -79.6% | 0.01% | −0.04 |
| WAT Waters Corp. | Reduce -59.7% | 0.02% | −0.04 |
| SOLV Solventum Corp. | Reduce -71.2% | 0.02% | −0.04 |
| GWW WW Grainger Inc. | Reduce -28.8% | 0.06% | −0.03 |
| AVB Avalonbay Communities Inc. | Reduce -58.2% | 0.02% | −0.03 |
| ZTS Zoetis Inc. | Reduce -23.2% | 0.10% | −0.03 |
| MCK McKesson Corp. | Reduce -37.9% | 0.07% | −0.03 |
| ENPH Enphase Energy Inc. | Reduce -86.0% | 0.00% | −0.03 |
| STX Seagate Technology Holdings | Reduce -14.4% | 0.14% | −0.03 |
| ALLE Allegion PLC | Reduce -56.3% | 0.02% | −0.03 |
| ATO Atmos Energy Corp. | Reduce -63.7% | 0.02% | −0.03 |
| TRV The Travelers Cos Inc. | Reduce -31.3% | 0.08% | −0.03 |
| DOCU Docusign Inc. | Reduce -44.7% | 0.02% | −0.03 |
| UTHR United Therapeutics Corp. | Reduce -76.1% | 0.01% | −0.03 |
| CEG Constellation Energy | Reduce -4.8% | 0.14% | −0.02 |
| FSLR First Solar Inc. | Reduce -43.0% | 0.02% | −0.02 |
| IVZ Invesco Ltd. | Reduce -0.2% | 0.13% | −0.02 |
| NXT Nextpower Inc. | Sold out | 0.00% | −0.02 |
| GDDY GoDaddy Inc. Class A | Reduce -15.7% | 0.06% | −0.02 |
| EA Electronic Arts Inc. | Reduce -17.7% | 0.07% | −0.02 |
| AVY Avery Dennison Corp. | Reduce -30.8% | 0.03% | −0.02 |
| J Jacobs Solutions Inc. | Reduce -52.0% | 0.01% | −0.02 |
| K Kellanova | Reduce -14.7% | 0.10% | −0.02 |
| CMS CMS Energy Corp. | Reduce -46.7% | 0.02% | −0.02 |
| OC Owens Corning | Reduce -9.0% | 0.04% | −0.01 |
| NEE Nextera Energy Inc. | Reduce -5.8% | 0.16% | −0.01 |
| APA Apa Corp. | Sold out | 0.00% | −0.01 |
| PEG Public Service Enterprise GP | Reduce -20.7% | 0.04% | −0.01 |
| VEEV Veeva Systems Inc. Class A | Reduce -29.4% | 0.04% | −0.01 |
| VLO Valero Energy Corp. | Reduce -29.9% | 0.04% | −0.01 |
| MSI Motorola Solutions Inc. | Reduce -4.9% | 0.10% | −0.01 |
| COR Cencora Inc. | Reduce -28.9% | 0.08% | −0.01 |
| MKTX Marketaxess Holdings Inc. | Reduce -64.5% | 0.01% | −0.01 |
| KR Kroger Co. | Reduce -23.5% | 0.06% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| V Visa Inc. Class A | Add +48.6% | 0.80% | +0.31 |
| ABBV Abbvie Inc. | Add +8.6% | 1.36% | +0.28 |
| VZ Verizon Communications Inc. | Add +2.3% | 1.93% | +0.24 |
| JNJ Johnson & Johnson | Add +8.8% | 1.27% | +0.24 |
| LLY Eli Lilly & Co. | Add +12.3% | 1.32% | +0.21 |
| PM Philip Morris International | Add +2.7% | 0.81% | +0.20 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +48.9% | 0.45% | +0.19 |
| CME Cme Group Inc. | Add +1.1% | 1.40% | +0.17 |
| IBM Intl Business Machines Corp. | Add +6.1% | 1.09% | +0.17 |
| AMGN Amgen Inc. | Add +7.0% | 0.63% | +0.13 |
| PG The Procter & Gamble Co. | Add +29.9% | 0.54% | +0.12 |
| CVX Chevron Corp. | Add +2.6% | 0.81% | +0.12 |
| MA Mastercard Inc. Class A | Add +25.4% | 0.52% | +0.12 |
| KO The Coca-Cola Co. | Add +23.5% | 0.37% | +0.10 |
| CVS CVS Health Corp. | Add +4.9% | 0.29% | +0.10 |
| CSCO Cisco Systems Inc. | Add +17.3% | 0.60% | +0.10 |
| GE General Electric | Add +11.6% | 0.42% | +0.10 |
| COST Costco Wholesale Corp. | Add +26.5% | 0.41% | +0.09 |
| ELV Elevance Health Inc. | Add +91.0% | 0.16% | +0.09 |
| AMT American Tower Corp. | Add +74.9% | 0.17% | +0.09 |
| GILD Gilead Sciences Inc. | Add +3.6% | 0.46% | +0.09 |
| INTU Intuit Inc. | Add +31.2% | 0.41% | +0.09 |
| MCD McDonald's Corp. | Add +10.2% | 0.57% | +0.08 |
| XOM Exxon Mobil Corp. | Add +5.0% | 0.65% | +0.08 |
| FISV Fiserv Inc. | Add +60.8% | 0.19% | +0.08 |
| PGR Progressive Corp. | Add +8.9% | 0.37% | +0.08 |
| MELI MercadoLibre Inc. | Add +81.6% | 0.14% | +0.07 |
| PAYX Paychex Inc. | Add +2.8% | 0.70% | +0.07 |
| GS Goldman Sachs Group Inc. | Add +69.5% | 0.19% | +0.07 |
| MDT Medtronic PLC | Add +2.9% | 0.55% | +0.07 |
| UNH Unitedhealth Group Inc. | Add +7.6% | 0.71% | +0.06 |
| LIN Linde PLC | Add +23.7% | 0.24% | +0.06 |
| NEM Newmont Corp. | Add +92.6% | 0.10% | +0.06 |
| SPOT Spotify Technology SA | Add +181.4% | 0.09% | +0.06 |
| PLTR Palantir Technologies Inc. Class A | Add +5.0% | 0.45% | +0.06 |
| NFLX Netflix Inc. | Add +8.1% | 0.57% | +0.06 |
| MRK Merck & Co. Inc. | Add +26.2% | 0.53% | +0.06 |
| DRI Darden Restaurants Inc. | Add +2.8% | 0.50% | +0.06 |
| EXC Exelon Corp. | Add +85.7% | 0.09% | +0.05 |
| JCI Johnson Controls Internation | Add +90.6% | 0.11% | +0.05 |
| KMI Kinder Morgan Inc. | Add +12.0% | 0.38% | +0.05 |
| T AT&T Inc. | Add +7.7% | 0.20% | +0.05 |
| PEP Pepsico Inc. | Add +25.5% | 0.26% | +0.05 |
| ABT Abbott Laboratories | Add +28.3% | 0.14% | +0.05 |
| MRSH Marsh & McLennan Cos | Add +26.1% | 0.15% | +0.04 |
| JPM JPMorgan Chase & Co. | Add +5.0% | 0.80% | +0.04 |
| IQV Iqvia Holdings Inc. | Add +170.3% | 0.08% | +0.04 |
| BMY Bristol-Myers Squibb Co. | Add +5.3% | 0.42% | +0.04 |
| EQH Equitable Holdings Inc. | Add +281.5% | 0.06% | +0.04 |
| WEC WEC Energy Group Inc. | Add +224.4% | 0.06% | +0.04 |
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 |