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

0$500.0M$1.0B$1.5B$2.0B Q4 2024: $1.3B Q4 2024 Q1 2025: $1.2B $1.2B Q1 2025 Q2 2025: $1.4B Q2 2025 Q3 2025: $1.5B Q3 2025 Q4 2025: $1.6B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.9B Q2 2026

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
RDY Dr. Reddy's Laboratories-ADR 0.07% 65,000 $857K New
ILMN Illumina Inc. 0.07% 10,500 $833K No change
SNPS Synopsys Inc. 0.07% 1,900 $815K Reduce -44.2%
INTU Intuit Inc. 0.07% 1,325 $814K No change
PLTR Palantir Technologies Inc. Class A 0.07% 9,500 $802K New
XYL Xylem Inc. 0.07% 6,660 $796K No change
EXAS Exact Sciences Corp. 0.07% 18,250 $790K No change
YUMC Yum China Holdings Inc. 0.07% 15,000 $781K New
PGR Progressive Corp. 0.06% 2,630 $744K Reduce -90.8%
VRSK Verisk Analytics Inc. 0.06% 2,500 $744K Add +54.8%
AMT American Tower Corp. 0.06% 3,400 $740K Reduce -32.0%
ZTS Zoetis Inc. 0.06% 4,460 $734K No change
MBLY Mobileye Global Inc. Class A 0.06% 50,000 $720K New
PYPL PayPal Holdings Inc. 0.06% 11,000 $718K No change
SPGI S&P Global Inc. 0.06% 1,400 $711K Reduce -28.9%
SRPT Sarepta Therapeutics Inc. 0.06% 11,000 $702K No change
TTEK Tetra Tech Inc. 0.06% 23,325 $682K No change
NET Cloudflare Inc. Class A 0.06% 6,000 $676K Reduce -33.3%
SNOW Snowflake Inc. 0.06% 4,500 $658K New
ANET Arista Networks Inc. 0.05% 7,800 $604K Reduce -61.6%
IT Gartner Inc. 0.05% 1,400 $588K Add +64.7%
ADBE Adobe Inc. 0.05% 1,439 $552K Add +0.5%
GNRC Generac Holdings Inc. 0.04% 3,500 $443K New
COHR Coherent Corp. 0.04% 6,490 $421K No change
MMYT Makemytrip Ltd. 0.03% 3,800 $372K New
LRCX Lam Research Corp. 0.03% 5,000 $364K Reduce -66.1%
A Agilent Technologies Inc. 0.03% 2,830 $331K No change
IDXX Idexx Laboratories Inc. 0.02% 675 $283K No change
MANH Manhattan Associates Inc. 0.02% 1,500 $260K New
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.01% 500 $144K New
VRT Vertiv Holdings Co. Class A 0.01% 1,400 $101K New
EA Electronic Arts Inc. 0.01% 625 $90K Reduce -98.7%
QTEC First Trust Nasdq 100 Tech I 0.01% 365 $63K No change
RACE Ferrari NV 0.00% 11 $5K 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
WIT Wipro Ltd.-ADR SPON ADR 1 SH New 0 $0
RCL Royal Caribbean Cruises Ltd. COM New 0 $0

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 184$1.9BNVDA, AMZN, MSFT, AAPL, GOOGL
Q1 2026 166$1.4BNVDA, AMZN, MSFT, AAPL, GOOGL
Q4 2025 173$1.6BNVDA, MSFT, AAPL, AMZN, GOOGL
Q3 2025 140$1.5BNVDA, MSFT, AAPL, AMZN, META
Q2 2025 131$1.4BNVDA, MSFT, AMZN, META, AAPL
Q1 2025 134$1.2BMSFT, AMZN, NVDA, AAPL, META
Q4 2024 124$1.3BNVDA, AMZN, MSFT, AAPL, META