Triglav Investments, D.O.O.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 5, 2025), Triglav Investments, D.O.O. reported 131 stock positions worth $1.4 billion. Its top holding was Nvidia (NVDA) at 9.9% of the portfolio, followed by Microsoft (MSFT, 8.8%) and Amazon.com (AMZN, 6.3%). Compared with Q1 2025, it opened 7 new positions, sold out of 10, added to 32 and reduced 42. The biggest buy was Nvidia (NVDA, shares +15%) and the biggest sale Unitedhealth (UNH, shares −85%).

Most Recent 13F
Q2 2026
Location
LJUBLJANA, 2A
CIK
0002056690
Portfolio Value
$1.4B (Q2 2025)
SEC Filing
0002056690-25-000010 ↗ filed Aug 5, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q4 2024: $1.3B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.4B $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 131 stocks · $1.4B
NVDA Nvidia Corp. 9.90% 866,629 $136.9M Add +15.2%
MSFT Microsoft Corp. 8.76% 243,605 $121.2M Add +9.5%
AMZN Amazon.com Inc. 6.34% 399,592 $87.7M Reduce -7.4%
META Meta Platforms Inc. Class A 5.74% 107,665 $79.5M Reduce -6.5%
AAPL Apple Inc. 4.74% 319,401 $65.5M Reduce -3.6%
AVGO Broadcom Inc. 4.25% 213,185 $58.8M Add +32.8%
JPM JPMorgan Chase & Co. 4.00% 190,981 $55.4M Add +2.6%
NFLX Netflix Inc. 3.51% 36,253 $48.5M Reduce -0.6%
LLY Eli Lilly & Co. 3.04% 54,036 $42.1M Add +1.5%
GOOGL Alphabet Inc. Class A 2.75% 216,223 $38.1M Reduce -0.4%
V Visa Inc. Class A 2.58% 100,513 $35.7M Add +5.5%
GS Goldman Sachs Group Inc. 2.02% 39,453 $27.9M Reduce -25.4%
ORCL Oracle Corp. 1.90% 120,150 $26.3M Reduce -11.5%
PLTR Palantir Technologies Inc. Class A 1.87% 189,400 $25.8M Add +1893.7%
MA Mastercard Inc. Class A 1.86% 45,783 $25.7M Add +5.6%
TSLA Tesla Inc. 1.72% 74,900 $23.8M Add +6.2%
WMT Walmart Inc. 1.68% 237,617 $23.2M Reduce -23.3%
EMR Emerson Electric Co. 1.37% 141,765 $18.9M No change
CRM Salesforce Inc. 1.10% 55,734 $15.2M Reduce -37.7%
GOOG Alphabet Inc. Class C 1.05% 81,640 $14.5M Reduce -0.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.03% 114,673 $14.2M Reduce -0.4%
UBER Uber Technologies Inc. 0.92% 136,350 $12.7M Add +16.6%
LOW Lowe's Cos Inc. 0.90% 55,925 $12.4M Add +2.9%
HD Home Depot Inc. 0.86% 32,520 $11.9M Reduce -23.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.84% 18,915 $11.7M Reduce -6.1%
RL Ralph Lauren Corp. 0.80% 40,550 $11.1M New
CVS CVS Health Corp. 0.74% 149,150 $10.3M Reduce -7.7%
DE Deere & Co. 0.73% 19,809 $10.1M Add +92.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.68% 32,000 $9.4M No change
TFC Truist Financial Corp. 0.68% 218,414 $9.4M No change
JNJ Johnson & Johnson 0.67% 60,900 $9.3M Reduce -2.6%
HON Honeywell International Inc. 0.66% 39,360 $9.2M No change
TMO Thermo Fisher Scientific Inc. 0.66% 22,595 $9.2M Reduce -10.1%
PWR Quanta Services Inc. 0.57% 20,865 $7.9M Add +255.8%
IEV iShares Europe ETF 0.56% 122,776 $7.8M Reduce -0.6%
PFE Pfizer Inc. 0.55% 316,700 $7.7M No change
DASH DoorDash Inc. Class A 0.54% 30,500 $7.5M New
CSCO Cisco Systems Inc. 0.54% 107,500 $7.5M Add +2.6%
PGR Progressive Corp. 0.53% 27,446 $7.3M Add +943.6%
CI The Cigna Group 0.52% 21,640 $7.2M Reduce -24.5%
EQIX Equinix Inc. 0.52% 8,990 $7.2M New
MRK Merck & Co. Inc. 0.50% 87,718 $6.9M Add +2.8%
Eaton Corp PLC 0.49% 19,079 $6.8M Add +24.0%
MELI MercadoLibre Inc. 0.48% 2,535 $6.6M Add +13.4%
AVY Avery Dennison Corp. 0.48% 37,750 $6.6M No change
AZN Astrazeneca PLC-Spons ADR 0.45% 88,982 $6.2M Reduce -1.3%
QCOM Qualcomm Inc. 0.44% 38,338 $6.1M Add +5.3%
TSM Taiwan Semiconductor-SP ADR 0.44% 26,884 $6.1M Add +0.6%
COR Cencora Inc. 0.44% 20,200 $6.1M Add +24.7%
COST Costco Wholesale Corp. 0.41% 5,800 $5.7M Reduce -25.6%
NOW ServiceNow Inc. 0.40% 5,400 $5.6M Add +22.7%
BKNG Booking Holdings Inc. 0.40% 950 $5.5M New
SE Sea Ltd.-ADR 0.38% 33,000 $5.3M Add +37.5%
ABBV Abbvie Inc. 0.37% 27,721 $5.1M Reduce -38.6%
IVV iShares Core S&P 500 ETF 0.34% 7,490 $4.7M Reduce -4.2%
AXP American Express Co. 0.33% 14,500 $4.6M Reduce -23.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.33% 97,778 $4.6M Reduce -46.9%
MDT Medtronic PLC 0.32% 49,999 $4.4M Reduce -16.7%
ISRG Intuitive Surgical Inc. 0.32% 8,020 $4.4M Add +1.3%
ABT Abbott Laboratories 0.30% 30,100 $4.1M No change
MU Micron Technology Inc. 0.29% 32,850 $4.0M Reduce -73.9%
FSLR First Solar Inc. 0.28% 23,500 $3.9M Reduce -6.9%
AMD Advanced Micro Devices 0.26% 25,190 $3.6M Reduce -9.2%
COMCAST CORP (CMCSA 0.75 02/20/32) 0.25% 4,000,000 $3.4M No change
LIN Linde PLC 0.23% 6,755 $3.2M No change
BSX Boston Scientific Corp. 0.23% 29,000 $3.1M No change
MS Morgan Stanley 0.20% 19,512 $2.7M No change
KO The Coca-Cola Co. 0.19% 37,535 $2.7M No change
C Citigroup Inc. 0.18% 28,674 $2.4M Reduce -74.1%
QQQ Invesco QQQ Trust Series 1 0.16% 4,125 $2.3M Reduce -7.8%
BIIB Biogen Inc. 0.16% 18,027 $2.3M No change
IBN Icici Bank Ltd.-Spon ADR 0.15% 63,372 $2.1M No change
DH EUROPE FINANCE II SARL 0.15% 2,410,000 $2.1M Reduce -29.3%
MCD McDonald's Corp. 0.15% 7,155 $2.1M Reduce -59.9%
ZTS Zoetis Inc. 0.15% 13,000 $2.0M Add +191.5%
AMAT Applied Materials Inc. 0.14% 10,747 $2.0M No change
ELV Elevance Health Inc. 0.14% 4,980 $1.9M No change
UNH Unitedhealth Group Inc. 0.14% 6,126 $1.9M Reduce -84.5%
RMD Resmed Inc. 0.14% 7,400 $1.9M No change
PEP Pepsico Inc. 0.14% 14,421 $1.9M Reduce -1.8%
HDB HDFC Bank Ltd.-ADR 0.14% 24,500 $1.9M No change
ACN Accenture PLC Class A 0.14% 6,250 $1.9M Reduce -87.5%
GM General Motors Co. 0.13% 37,573 $1.8M Reduce -15.7%
ANET Arista Networks Inc. 0.13% 17,800 $1.8M Add +128.2%
GILD Gilead Sciences Inc. 0.13% 16,000 $1.8M No change
PG The Procter & Gamble Co. 0.13% 11,026 $1.8M No change
DD Dupont DE Nemours Inc. 0.12% 23,851 $1.6M No change
INFY Infosys Ltd.-SP ADR 0.12% 88,130 $1.6M No change
DXCM Dexcom Inc. 0.12% 18,500 $1.6M No change
EW Edwards Lifesciences Corp. 0.11% 20,060 $1.6M No change
MRVL Marvell Technology Inc. 0.11% 20,000 $1.5M New
VRTX Vertex Pharmaceuticals Inc. 0.11% 3,450 $1.5M No change
AT&T INC. 0.11% 1,520,000 $1.5M Reduce -49.7%
VRSK Verisk Analytics Inc. 0.11% 4,750 $1.5M Add +90.0%
NEE Nextera Energy Inc. 0.11% 21,151 $1.5M No change
SPGI S&P Global Inc. 0.10% 2,750 $1.5M Add +96.4%
SFM Sprouts Farmers Market Inc. 0.10% 8,400 $1.4M No change
NBIX Neurocrine Biosciences Inc. 0.10% 11,000 $1.4M No change
DAR Darling Ingredients Inc. 0.10% 35,000 $1.3M Reduce -18.8%
REGN Regeneron Pharmaceuticals 0.10% 2,515 $1.3M New

Show all 131 holdings

Portfolio Sells Q1 2025 → Q2 2025
UNH Unitedhealth Group Inc. Reduce -84.5% 0.14% −1.59
AAPL Apple Inc. Reduce -3.6% 4.74% −1.42
CRM Salesforce Inc. Reduce -37.7% 1.10% −0.91
ACN Accenture PLC Class A Reduce -87.5% 0.14% −0.83
NU Nu Holdings Ltd./Cayman Isl-A Reduce -19.3% 0.05% −0.77
CFG Citizens Financial Group Sold out 0.00% −0.75
MU Micron Technology Inc. Reduce -73.9% 0.29% −0.62
WMT Walmart Inc. Reduce -23.3% 1.68% −0.60
AMZN Amazon.com Inc. Reduce -7.4% 6.34% −0.53
C Citigroup Inc. Reduce -74.1% 0.18% −0.48
HD Home Depot Inc. Reduce -23.7% 0.86% −0.44
ABBV Abbvie Inc. Reduce -38.6% 0.37% −0.42
GS Goldman Sachs Group Inc. Reduce -25.4% 2.02% −0.40
TMO Thermo Fisher Scientific Inc. Reduce -10.1% 0.66% −0.38
MCD McDonald's Corp. Reduce -59.9% 0.15% −0.32
BAC Bank of America Corp. Reduce -46.9% 0.33% −0.31
CI The Cigna Group Reduce -24.5% 0.52% −0.27
COST Costco Wholesale Corp. Reduce -25.6% 0.41% −0.20
JNJ Johnson & Johnson Reduce -2.6% 0.67% −0.19
CVS CVS Health Corp. Reduce -7.7% 0.74% −0.17
AT&T INC. Reduce -49.7% 0.11% −0.14
MDT Medtronic PLC Reduce -16.7% 0.32% −0.14
BMY Bristol-Myers Squibb Co. Sold out 0.00% −0.13
SYY Sysco Corp. Sold out 0.00% −0.13
AZN Astrazeneca PLC-Spons ADR Reduce -1.3% 0.45% −0.10
ADP Automatic Data Processing Sold out 0.00% −0.10
SPY SS SPDR S&P 500 ETF Trust-US Reduce -6.1% 0.84% −0.10
AXP American Express Co. Reduce -23.7% 0.33% −0.09
DH EUROPE FINANCE II SARL Reduce -29.3% 0.15% −0.09
RDY Dr. Reddy's Laboratories-ADR Sold out 0.00% −0.07
ILMN Illumina Inc. Sold out 0.00% −0.07
EXAS Exact Sciences Corp. Sold out 0.00% −0.07
SNOW Snowflake Inc. Sold out 0.00% −0.06
GOOGL Alphabet Inc. Class A Reduce -0.4% 2.75% −0.05
PEP Pepsico Inc. Reduce -1.8% 0.14% −0.05
GM General Motors Co. Reduce -15.7% 0.13% −0.04
IEV iShares Europe ETF Reduce -0.6% 0.56% −0.04
IVV iShares Core S&P 500 ETF Reduce -4.2% 0.34% −0.03
GOOG Alphabet Inc. Class C Reduce -0.2% 1.05% −0.02
DAR Darling Ingredients Inc. Reduce -18.8% 0.10% −0.02
GNRC Generac Holdings Inc. Reduce -42.9% 0.02% −0.02
QQQ Invesco QQQ Trust Series 1 Reduce -7.8% 0.16% −0.01
ADBE Adobe Inc. Reduce -12.1% 0.04% −0.01
SNPS Synopsys Inc. Reduce -18.4% 0.06% −0.01
VRT Vertiv Holdings Co. Class A Sold out 0.00% −0.01
EA Electronic Arts Inc. Sold out 0.00% −0.01
FSLR First Solar Inc. Reduce -6.9% 0.28% +0.01
AMD Advanced Micro Devices Reduce -9.2% 0.26% +0.02
DIS The Walt Disney Co. Reduce -0.4% 1.03% +0.08
META Meta Platforms Inc. Class A Reduce -6.5% 5.74% +0.19

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. Add +15.2% 9.90% +3.07
AVGO Broadcom Inc. Add +32.8% 4.25% +2.00
PLTR Palantir Technologies Inc. Class A Add +1893.7% 1.87% +1.80
MSFT Microsoft Corp. Add +9.5% 8.76% +1.77
RL Ralph Lauren Corp. New 0.80% +0.80
DASH DoorDash Inc. Class A New 0.54% +0.54
EQIX Equinix Inc. New 0.52% +0.52
PGR Progressive Corp. Add +943.6% 0.53% +0.47
PWR Quanta Services Inc. Add +255.8% 0.57% +0.45
BKNG Booking Holdings Inc. New 0.40% +0.40
DE Deere & Co. Add +92.3% 0.73% +0.32
UBER Uber Technologies Inc. Add +16.6% 0.92% +0.21
TSLA Tesla Inc. Add +6.2% 1.72% +0.19
JPM JPMorgan Chase & Co. Add +2.6% 4.00% +0.18
Eaton Corp PLC Add +24.0% 0.49% +0.14
SE Sea Ltd.-ADR Add +37.5% 0.38% +0.12
MELI MercadoLibre Inc. Add +13.4% 0.48% +0.11
MRVL Marvell Technology Inc. New 0.11% +0.11
NOW ServiceNow Inc. Add +22.7% 0.40% +0.11
REGN Regeneron Pharmaceuticals New 0.10% +0.10
ZTS Zoetis Inc. Add +191.5% 0.15% +0.09
UTHR United Therapeutics Corp. New 0.08% +0.08
ANET Arista Networks Inc. Add +128.2% 0.13% +0.08
TSM Taiwan Semiconductor-SP ADR Add +0.6% 0.44% +0.07
COR Cencora Inc. Add +24.7% 0.44% +0.06
SPGI S&P Global Inc. Add +96.4% 0.10% +0.05
VRSK Verisk Analytics Inc. Add +90.0% 0.11% +0.04
IT Gartner Inc. Add +100.0% 0.08% +0.03
IDXX Idexx Laboratories Inc. Add +107.4% 0.05% +0.03
TTEK Tetra Tech Inc. Add +37.6% 0.08% +0.03
MMYT Makemytrip Ltd. Add +52.6% 0.04% +0.01
CSCO Cisco Systems Inc. Add +2.6% 0.54% −0.00
ISRG Intuitive Surgical Inc. Add +1.3% 0.32% −0.01
QCOM Qualcomm Inc. Add +5.3% 0.44% −0.03
MA Mastercard Inc. Class A Add +5.6% 1.86% −0.13
MRK Merck & Co. Inc. Add +2.8% 0.50% −0.14
LOW Lowe's Cos Inc. Add +2.9% 0.90% −0.16
V Visa Inc. Class A Add +5.5% 2.58% −0.21
LLY Eli Lilly & Co. Add +1.5% 3.04% −0.63

Notes & Other Activity Q1 2025 → Q2 2025
WIT Wipro Ltd.-ADR SPON ADR 1 SH Sold out 0 $0before exit
RCL Royal Caribbean Cruises Ltd. COM Sold out 0 $0before exit

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