Triglav Investments, D.O.O.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Triglav Investments, D.O.O. reported 134 stock positions worth $1.2 billion. Its top holding was Microsoft (MSFT) at 7.0% of the portfolio, followed by Amazon.com (AMZN, 6.9%) and Nvidia (NVDA, 6.8%). Compared with Q4 2024, it opened 25 new positions, sold out of 15, added to 30 and reduced 37. The biggest buy was a new position in Accenture Class A (ACN) and the biggest sale Nvidia (NVDA, shares −12%).
- Most Recent 13F
- Q2 2026
- Location
- LJUBLJANA, 2A
- CIK
- 0002056690
- Portfolio Value
- $1.2B (Q1 2025)
- SEC Filing
- 0002056690-25-000004 ↗ filed May 13, 2025
Holdings Value
Holdings 134 stocks · $1.2B
| MSFT Microsoft Corp. | 6.98% | 222,453 | $83.5M | Add +4.5% |
| AMZN Amazon.com Inc. | 6.87% | 431,492 | $82.1M | Add +4.3% |
| NVDA Nvidia Corp. | 6.83% | 752,639 | $81.6M | Reduce -11.6% |
| AAPL Apple Inc. | 6.16% | 331,376 | $73.6M | Reduce -2.8% |
| META Meta Platforms Inc. Class A | 5.55% | 115,140 | $66.4M | Add +9.0% |
| JPM JPMorgan Chase & Co. | 3.82% | 186,063 | $45.6M | Reduce -1.1% |
| LLY Eli Lilly & Co. | 3.68% | 53,245 | $44.0M | Reduce -4.2% |
| NFLX Netflix Inc. | 2.84% | 36,458 | $34.0M | Reduce -1.5% |
| GOOGL Alphabet Inc. Class A | 2.81% | 217,093 | $33.6M | Reduce -1.4% |
| V Visa Inc. Class A | 2.79% | 95,252 | $33.4M | Add +13.4% |
| GS Goldman Sachs Group Inc. | 2.42% | 52,887 | $28.9M | Add +13.9% |
| WMT Walmart Inc. | 2.28% | 309,942 | $27.2M | Add +6.4% |
| AVGO Broadcom Inc. | 2.25% | 160,569 | $26.9M | Add +26.8% |
| CRM Salesforce Inc. | 2.01% | 89,449 | $24.0M | Reduce -14.1% |
| MA Mastercard Inc. Class A | 1.99% | 43,358 | $23.8M | Add +9.2% |
| UNH Unitedhealth Group Inc. | 1.73% | 39,548 | $20.7M | Reduce -13.5% |
| ORCL Oracle Corp. | 1.59% | 135,750 | $19.0M | Reduce -6.8% |
| TSLA Tesla Inc. | 1.53% | 70,500 | $18.3M | Add +1.3% |
| HD Home Depot Inc. | 1.31% | 42,620 | $15.6M | Reduce -3.2% |
| EMR Emerson Electric Co. | 1.30% | 141,765 | $15.5M | Reduce -3.5% |
| GOOG Alphabet Inc. Class C | 1.07% | 81,840 | $12.8M | Reduce -3.5% |
| LOW Lowe's Cos Inc. | 1.06% | 54,375 | $12.7M | Add +2.4% |
| TMO Thermo Fisher Scientific Inc. | 1.05% | 25,145 | $12.5M | Add +3.5% |
| ACN Accenture PLC Class A | 0.97% | 50,150 | $11.6M | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.95% | 115,165 | $11.4M | Reduce -3.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.94% | 20,145 | $11.3M | New |
| CVS CVS Health Corp. | 0.92% | 161,565 | $10.9M | Reduce -8.2% |
| MU Micron Technology Inc. | 0.91% | 125,646 | $10.9M | Reduce -8.5% |
| JNJ Johnson & Johnson | 0.87% | 62,500 | $10.4M | Add +5.0% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.82% | 61,975 | $9.8M | New |
| ABBV Abbvie Inc. | 0.79% | 45,121 | $9.5M | Add +19.6% |
| CI The Cigna Group | 0.79% | 28,667 | $9.4M | Reduce -3.0% |
| TFC Truist Financial Corp. | 0.75% | 218,414 | $9.0M | Reduce -5.3% |
| CFG Citizens Financial Group | 0.75% | 217,800 | $8.9M | No change |
| UBER Uber Technologies Inc. | 0.71% | 116,950 | $8.5M | Add +112.8% |
| HON Honeywell International Inc. | 0.70% | 39,360 | $8.3M | Reduce -3.6% |
| PFE Pfizer Inc. | 0.67% | 316,700 | $8.0M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.67% | 32,000 | $8.0M | Add +4.9% |
| C Citigroup Inc. | 0.66% | 110,674 | $7.9M | Add +132.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.64% | 184,240 | $7.7M | Add +13.9% |
| MRK Merck & Co. Inc. | 0.64% | 85,308 | $7.7M | Reduce -2.7% |
| COST Costco Wholesale Corp. | 0.62% | 7,800 | $7.4M | Add +1.3% |
| IEV iShares Europe ETF | 0.60% | 123,572 | $7.2M | New |
| AVY Avery Dennison Corp. | 0.56% | 37,750 | $6.7M | Reduce -5.2% |
| AZN Astrazeneca PLC-Spons ADR | 0.55% | 90,136 | $6.6M | Add +7.6% |
| CSCO Cisco Systems Inc. | 0.54% | 104,750 | $6.5M | Add +168.3% |
| QCOM Qualcomm Inc. | 0.47% | 36,396 | $5.6M | Reduce -11.9% |
| MCD McDonald's Corp. | 0.47% | 17,855 | $5.6M | Reduce -4.8% |
| MDT Medtronic PLC | 0.45% | 59,999 | $5.4M | Add +224.3% |
| AXP American Express Co. | 0.43% | 19,000 | $5.1M | Reduce -30.9% |
| DE Deere & Co. | 0.40% | 10,299 | $4.8M | Add +154.4% |
| COR Cencora Inc. | 0.38% | 16,200 | $4.5M | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.37% | 26,730 | $4.4M | Add +149.1% |
| IVV iShares Core S&P 500 ETF | 0.37% | 7,816 | $4.4M | Reduce -1.5% |
| MELI MercadoLibre Inc. | 0.36% | 2,235 | $4.4M | New |
| Eaton Corp PLC | 0.35% | 15,382 | $4.2M | New |
| ABT Abbott Laboratories | 0.33% | 30,100 | $4.0M | No change |
| ISRG Intuitive Surgical Inc. | 0.33% | 7,920 | $3.9M | Add +12.8% |
| NOW ServiceNow Inc. | 0.29% | 4,400 | $3.5M | Reduce -56.4% |
| COMCAST CORP (CMCSA 0.75 02/20/32) | 0.28% | 4,000,000 | $3.3M | No change |
| FSLR First Solar Inc. | 0.27% | 25,250 | $3.2M | New |
| LIN Linde PLC | 0.26% | 6,755 | $3.1M | No change |
| SE Sea Ltd.-ADR | 0.26% | 24,000 | $3.1M | New |
| AT&T INC. | 0.25% | 3,020,000 | $3.0M | New |
| BSX Boston Scientific Corp. | 0.24% | 29,000 | $2.9M | No change |
| DH EUROPE FINANCE II SARL | 0.24% | 3,410,000 | $2.9M | New |
| AMD Advanced Micro Devices | 0.24% | 27,746 | $2.9M | Add +40.5% |
| KO The Coca-Cola Co. | 0.22% | 37,535 | $2.7M | Add +15.0% |
| BIIB Biogen Inc. | 0.21% | 18,027 | $2.5M | No change |
| MS Morgan Stanley | 0.19% | 19,512 | $2.3M | No change |
| PEP Pepsico Inc. | 0.18% | 14,679 | $2.2M | Add +0.2% |
| ELV Elevance Health Inc. | 0.18% | 4,980 | $2.2M | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.18% | 4,473 | $2.1M | Reduce -1.2% |
| GM General Motors Co. | 0.18% | 44,573 | $2.1M | No change |
| IBN Icici Bank Ltd.-Spon ADR | 0.17% | 63,372 | $2.0M | New |
| PG The Procter & Gamble Co. | 0.16% | 11,026 | $1.9M | No change |
| GILD Gilead Sciences Inc. | 0.15% | 16,000 | $1.8M | No change |
| DD Dupont DE Nemours Inc. | 0.15% | 23,851 | $1.8M | No change |
| VRTX Vertex Pharmaceuticals Inc. | 0.14% | 3,450 | $1.7M | No change |
| RMD Resmed Inc. | 0.14% | 7,400 | $1.7M | No change |
| HDB HDFC Bank Ltd.-ADR | 0.14% | 24,500 | $1.6M | New |
| INFY Infosys Ltd.-SP ADR | 0.13% | 88,130 | $1.6M | New |
| AMAT Applied Materials Inc. | 0.13% | 10,747 | $1.6M | Reduce -17.4% |
| BMY Bristol-Myers Squibb Co. | 0.13% | 25,000 | $1.5M | Reduce -13.5% |
| SYY Sysco Corp. | 0.13% | 20,000 | $1.5M | No change |
| NEE Nextera Energy Inc. | 0.13% | 21,151 | $1.5M | No change |
| PWR Quanta Services Inc. | 0.12% | 5,865 | $1.5M | Reduce -14.6% |
| EW Edwards Lifesciences Corp. | 0.12% | 20,060 | $1.5M | No change |
| AMGN Amgen Inc. | 0.12% | 4,500 | $1.4M | No change |
| FDX FedEx Corp. | 0.12% | 5,660 | $1.4M | No change |
| DAR Darling Ingredients Inc. | 0.11% | 43,125 | $1.3M | No change |
| SFM Sprouts Farmers Market Inc. | 0.11% | 8,400 | $1.3M | No change |
| DXCM Dexcom Inc. | 0.11% | 18,500 | $1.3M | No change |
| NBIX Neurocrine Biosciences Inc. | 0.10% | 11,000 | $1.2M | No change |
| ADP Automatic Data Processing | 0.10% | 3,900 | $1.2M | New |
| BMRN Biomarin Pharmaceutical Inc. | 0.10% | 16,500 | $1.2M | No change |
| DHR Danaher Corp. | 0.09% | 5,000 | $1.0M | New |
| PANW Palo Alto Networks Inc. | 0.09% | 6,000 | $1.0M | No change |
| IQV Iqvia Holdings Inc. | 0.08% | 5,500 | $970K | No change |
| DELL Dell Technologies -C | 0.08% | 10,500 | $957K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | Reduce -11.6% | 6.83% | −2.16 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −1.09 |
| RL Ralph Lauren Corp. | Sold out | 0.00% | −0.86 |
| EQIX Equinix Inc. | Sold out | 0.00% | −0.74 |
| CRM Salesforce Inc. | Reduce -14.1% | 2.01% | −0.73 |
| UNP Union Pacific Corp. | Sold out | 0.00% | −0.56 |
| AAPL Apple Inc. | Reduce -2.8% | 6.16% | −0.56 |
| NOW ServiceNow Inc. | Reduce -56.4% | 0.29% | −0.55 |
| EA Electronic Arts Inc. | Reduce -98.7% | 0.01% | −0.52 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.50 |
| PGR Progressive Corp. | Reduce -90.8% | 0.06% | −0.48 |
| GOOGL Alphabet Inc. Class A | Reduce -1.4% | 2.81% | −0.47 |
| ORCL Oracle Corp. | Reduce -6.8% | 1.59% | −0.32 |
| AT&T INC (T 1.6 05/19/28) | Sold out | 0.00% | −0.24 |
| AXP American Express Co. | Reduce -30.9% | 0.43% | −0.21 |
| DLR Digital Realty Trust Inc. | Sold out | 0.00% | −0.21 |
| GOOG Alphabet Inc. Class C | Reduce -3.5% | 1.07% | −0.20 |
| DRI Darden Restaurants Inc. | Sold out | 0.00% | −0.15 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.14 |
| EMR Emerson Electric Co. | Reduce -3.5% | 1.30% | −0.13 |
| ANET Arista Networks Inc. | Reduce -61.6% | 0.05% | −0.13 |
| INCY Incyte Corp. | Sold out | 0.00% | −0.13 |
| VISA INC (V 1.5 06/15/26) | Sold out | 0.00% | −0.09 |
| DIS The Walt Disney Co. | Reduce -3.0% | 0.95% | −0.09 |
| UNH Unitedhealth Group Inc. | Reduce -13.5% | 1.73% | −0.09 |
| SNPS Synopsys Inc. | Reduce -44.2% | 0.07% | −0.06 |
| LRCX Lam Research Corp. | Reduce -66.1% | 0.03% | −0.05 |
| ADSK Autodesk Inc. | Sold out | 0.00% | −0.05 |
| HIG Hartford Insurance Group Inc. | Sold out | 0.00% | −0.05 |
| MRK Merck & Co. Inc. | Reduce -2.7% | 0.64% | −0.05 |
| PWR Quanta Services Inc. | Reduce -14.6% | 0.12% | −0.05 |
| MSCI MSCI Inc. | Sold out | 0.00% | −0.04 |
| HD Home Depot Inc. | Reduce -3.2% | 1.31% | −0.04 |
| AMAT Applied Materials Inc. | Reduce -17.4% | 0.13% | −0.04 |
| TFC Truist Financial Corp. | Reduce -5.3% | 0.75% | −0.04 |
| QCOM Qualcomm Inc. | Reduce -11.9% | 0.47% | −0.03 |
| HON Honeywell International Inc. | Reduce -3.6% | 0.70% | −0.03 |
| ON On Semiconductor | Sold out | 0.00% | −0.03 |
| AVY Avery Dennison Corp. | Reduce -5.2% | 0.56% | −0.02 |
| NET Cloudflare Inc. Class A | Reduce -33.3% | 0.06% | −0.02 |
| SPGI S&P Global Inc. | Reduce -28.9% | 0.06% | −0.02 |
| AMT American Tower Corp. | Reduce -32.0% | 0.06% | −0.01 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -1.2% | 0.18% | −0.01 |
| BMY Bristol-Myers Squibb Co. | Reduce -13.5% | 0.13% | −0.00 |
| IVV iShares Core S&P 500 ETF | Reduce -1.5% | 0.37% | −0.00 |
| MU Micron Technology Inc. | Reduce -8.5% | 0.91% | +0.00 |
| MCD McDonald's Corp. | Reduce -4.8% | 0.47% | +0.04 |
| CI The Cigna Group | Reduce -3.0% | 0.79% | +0.15 |
| NFLX Netflix Inc. | Reduce -1.5% | 2.84% | +0.25 |
| JPM JPMorgan Chase & Co. | Reduce -1.1% | 3.82% | +0.27 |
Portfolio Buys Q4 2024 → Q1 2025
| ACN Accenture PLC Class A | New | 0.97% | +0.97 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.94% | +0.94 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 0.82% | +0.82 |
| V Visa Inc. Class A | Add +13.4% | 2.79% | +0.70 |
| META Meta Platforms Inc. Class A | Add +9.0% | 5.55% | +0.69 |
| IEV iShares Europe ETF | New | 0.60% | +0.60 |
| UBER Uber Technologies Inc. | Add +112.8% | 0.71% | +0.45 |
| C Citigroup Inc. | Add +132.2% | 0.66% | +0.39 |
| MELI MercadoLibre Inc. | New | 0.36% | +0.36 |
| CSCO Cisco Systems Inc. | Add +168.3% | 0.54% | +0.36 |
| Eaton Corp PLC | New | 0.35% | +0.35 |
| MA Mastercard Inc. Class A | Add +9.2% | 1.99% | +0.34 |
| MDT Medtronic PLC | Add +224.3% | 0.45% | +0.33 |
| GS Goldman Sachs Group Inc. | Add +13.9% | 2.42% | +0.32 |
| DE Deere & Co. | Add +154.4% | 0.40% | +0.27 |
| FSLR First Solar Inc. | New | 0.27% | +0.27 |
| ABBV Abbvie Inc. | Add +19.6% | 0.79% | +0.26 |
| SE Sea Ltd.-ADR | New | 0.26% | +0.26 |
| AT&T INC. | New | 0.25% | +0.25 |
| DH EUROPE FINANCE II SARL | New | 0.24% | +0.24 |
| WMT Walmart Inc. | Add +6.4% | 2.28% | +0.20 |
| TSM Taiwan Semiconductor-SP ADR | Add +149.1% | 0.37% | +0.20 |
| JNJ Johnson & Johnson | Add +5.0% | 0.87% | +0.19 |
| IBN Icici Bank Ltd.-Spon ADR | New | 0.17% | +0.17 |
| IBM Intl Business Machines Corp. | Add +4.9% | 0.67% | +0.14 |
| HDB HDFC Bank Ltd.-ADR | New | 0.14% | +0.14 |
| INFY Infosys Ltd.-SP ADR | New | 0.13% | +0.13 |
| AZN Astrazeneca PLC-Spons ADR | Add +7.6% | 0.55% | +0.12 |
| ADP Automatic Data Processing | New | 0.10% | +0.10 |
| DHR Danaher Corp. | New | 0.09% | +0.09 |
| BAC Bank of America Corp. | Add +13.9% | 0.64% | +0.08 |
| RDY Dr. Reddy's Laboratories-ADR | New | 0.07% | +0.07 |
| PLTR Palantir Technologies Inc. Class A | New | 0.07% | +0.07 |
| YUMC Yum China Holdings Inc. | New | 0.07% | +0.07 |
| KO The Coca-Cola Co. | Add +15.0% | 0.22% | +0.07 |
| COST Costco Wholesale Corp. | Add +1.3% | 0.62% | +0.06 |
| MBLY Mobileye Global Inc. Class A | New | 0.06% | +0.06 |
| SNOW Snowflake Inc. | New | 0.06% | +0.06 |
| TMO Thermo Fisher Scientific Inc. | Add +3.5% | 1.05% | +0.05 |
| AMD Advanced Micro Devices | Add +40.5% | 0.24% | +0.05 |
| ISRG Intuitive Surgical Inc. | Add +12.8% | 0.33% | +0.04 |
| GNRC Generac Holdings Inc. | New | 0.04% | +0.04 |
| MMYT Makemytrip Ltd. | New | 0.03% | +0.03 |
| LOW Lowe's Cos Inc. | Add +2.4% | 1.06% | +0.03 |
| VRSK Verisk Analytics Inc. | Add +54.8% | 0.06% | +0.03 |
| MANH Manhattan Associates Inc. | New | 0.02% | +0.02 |
| IT Gartner Inc. | Add +64.7% | 0.05% | +0.02 |
| MSTR Strategy Inc. | New | 0.01% | +0.01 |
| PEP Pepsico Inc. | Add +0.2% | 0.18% | +0.01 |
| VRT Vertiv Holdings Co. Class A | New | 0.01% | +0.01 |
Notes & Other Activity Q4 2024 → Q1 2025
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 184 | $1.9B | NVDA, AMZN, MSFT, AAPL, GOOGL |
| Q1 2026 | 166 | $1.4B | NVDA, AMZN, MSFT, AAPL, GOOGL |
| Q4 2025 | 173 | $1.6B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q3 2025 | 140 | $1.5B | NVDA, MSFT, AAPL, AMZN, META |
| Q2 2025 | 131 | $1.4B | NVDA, MSFT, AMZN, META, AAPL |
| Q1 2025 | 134 | $1.2B | MSFT, AMZN, NVDA, AAPL, META |
| Q4 2024 | 124 | $1.3B | NVDA, AMZN, MSFT, AAPL, META |