Triglav Investments, D.O.O.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), Triglav Investments, D.O.O. reported 173 stock positions worth $1.6 billion. Its top holding was Nvidia (NVDA) at 8.6% of the portfolio, followed by Microsoft (MSFT, 7.6%) and Apple (AAPL, 6.0%). Compared with Q3 2025, it opened 43 new positions, sold out of 10, added to 45 and reduced 56. The biggest buy was Micron Technology (MU, shares +45%) and the biggest sale Nvidia (NVDA, shares −12%).

Most Recent 13F
Q2 2026
Location
LJUBLJANA, 2A
CIK
0002056690
Portfolio Value
$1.6B (Q4 2025)
SEC Filing
0002056690-26-000001 ↗ filed Feb 10, 2026

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 Q2 2025 Q3 2025: $1.5B Q3 2025 Q4 2025: $1.6B $1.6B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.9B Q2 2026

Holdings 173 stocks · $1.6B
NVDA Nvidia Corp. 8.63% 733,035 $136.7M Reduce -12.3%
MSFT Microsoft Corp. 7.63% 249,857 $120.8M Reduce -0.1%
AAPL Apple Inc. 6.05% 352,585 $95.9M Reduce -0.3%
AMZN Amazon.com Inc. 6.03% 413,768 $95.5M Add +3.6%
GOOGL Alphabet Inc. Class A 4.44% 225,023 $70.4M Reduce -0.8%
JPM JPMorgan Chase & Co. 4.06% 199,494 $64.3M Add +1.2%
META Meta Platforms Inc. Class A 3.73% 89,477 $59.1M Reduce -14.1%
AVGO Broadcom Inc. 3.49% 159,984 $55.4M Reduce -4.4%
LLY Eli Lilly & Co. 3.23% 47,646 $51.2M Reduce -7.6%
GS Goldman Sachs Group Inc. 2.64% 47,540 $41.8M Reduce -3.6%
TSLA Tesla Inc. 2.35% 82,938 $37.3M Add +7.1%
WMT Walmart Inc. 2.08% 296,023 $33.0M Add +19.6%
GOOG Alphabet Inc. Class C 1.85% 93,440 $29.3M Reduce -11.6%
NFLX Netflix Inc. 1.73% 291,911 $27.4M Reduce -2.3%
V Visa Inc. Class A 1.58% 71,417 $25.0M Reduce -6.1%
MA Mastercard Inc. Class A 1.33% 36,844 $21.0M Reduce -6.5%
ORCL Oracle Corp. 1.21% 98,236 $19.1M Reduce -8.1%
CRM Salesforce Inc. 1.15% 68,933 $18.3M Reduce -3.2%
UBER Uber Technologies Inc. 1.14% 220,092 $18.0M Add +39.0%
MU Micron Technology Inc. 1.07% 59,559 $17.0M Add +45.2%
JNJ Johnson & Johnson 1.06% 80,818 $16.7M Reduce -2.4%
HD Home Depot Inc. 0.98% 45,120 $15.5M Reduce -3.8%
MRK Merck & Co. Inc. 0.90% 134,819 $14.2M Add +0.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.87% 121,215 $13.8M Add +3.9%
RL Ralph Lauren Corp. 0.86% 38,550 $13.6M Reduce -4.9%
SPY SS SPDR S&P 500 ETF Trust-US 0.82% 19,032 $13.0M Reduce -0.0%
LOW Lowe's Cos Inc. 0.81% 53,010 $12.8M Reduce -5.4%
EMR Emerson Electric Co. 0.77% 91,390 $12.1M Reduce -35.5%
ABBV Abbvie Inc. 0.77% 53,052 $12.1M Reduce -6.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.72% 206,735 $11.4M Add +0.0%
COR Cencora Inc. 0.70% 33,000 $11.1M Add +140.9%
UNH Unitedhealth Group Inc. 0.70% 33,399 $11.0M Add +86.0%
QCOM Qualcomm Inc. 0.67% 62,087 $10.6M Add +38.0%
TSM Taiwan Semiconductor-SP ADR 0.66% 34,533 $10.5M Reduce -32.1%
PFE Pfizer Inc. 0.65% 415,792 $10.4M Add +31.3%
PWR Quanta Services Inc. 0.61% 23,011 $9.7M Add +10.3%
C Citigroup Inc. 0.60% 81,312 $9.5M Add +31.6%
AZN Astrazeneca PLC-Spons ADR 0.58% 100,235 $9.2M Add +0.0%
CVS CVS Health Corp. 0.58% 115,950 $9.2M Reduce -22.3%
TMO Thermo Fisher Scientific Inc. 0.58% 15,814 $9.2M Reduce -30.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.57% 30,300 $9.0M No change
WELL Welltower Inc. 0.55% 47,166 $8.8M Add +306.6%
MCD McDonald's Corp. 0.55% 28,634 $8.8M Add +159.5%
AMD Advanced Micro Devices 0.55% 40,349 $8.6M Reduce -18.0%
IEV iShares Europe ETF 0.54% 123,579 $8.5M Reduce 0.0%
HON Honeywell International Inc. 0.53% 43,360 $8.5M Add +10.2%
MS Morgan Stanley 0.51% 45,577 $8.1M Add +69.0%
CSCO Cisco Systems Inc. 0.50% 102,500 $7.9M No change
FSLR First Solar Inc. 0.50% 30,135 $7.9M Reduce -25.3%
WFC Wells Fargo & Co. 0.44% 74,000 $6.9M Reduce -5.1%
Eaton Corp PLC 0.40% 20,088 $6.4M Add +4.3%
AXP American Express Co. 0.40% 17,000 $6.3M No change
PGR Progressive Corp. 0.40% 27,493 $6.3M Add +0.0%
PLTR Palantir Technologies Inc. Class A 0.39% 34,916 $6.2M Reduce -75.6%
PLD Prologis Inc. 0.38% 46,587 $5.9M New
CI The Cigna Group 0.37% 21,140 $5.8M Reduce -6.6%
NEE Nextera Energy Inc. 0.36% 71,460 $5.7M Add +101.5%
IVV iShares Core S&P 500 ETF 0.32% 7,490 $5.1M No change
MDT Medtronic PLC 0.29% 48,652 $4.7M Reduce -3.0%
BOOKING HOLDINGS INC. 0.29% 4,500,000 $4.6M New
DH EUROPE FINANCE II SARL 0.28% 5,060,000 $4.5M Add +110.0%
DHR Danaher Corp. 0.27% 18,700 $4.3M Add +211.7%
BABA Alibaba Group Holding-SP ADR 0.26% 28,500 $4.2M New
EQIX Equinix Inc. 0.24% 5,058 $3.9M Reduce -38.0%
T AT&T Inc. 0.24% 154,072 $3.8M New
TXN Texas Instruments Inc. 0.23% 20,895 $3.6M Add +344.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.22% 23,200 $3.6M New
SPOT Spotify Technology SA 0.22% 6,000 $3.5M Add +50.0%
ABT Abbott Laboratories 0.22% 27,600 $3.5M Reduce -8.3%
COMCAST CORP (CMCSA 0.75 02/20/32) 0.22% 4,000,000 $3.5M No change
NOW ServiceNow Inc. 0.20% 21,205 $3.2M Reduce -2.1%
KLAC KLA Corp. 0.20% 2,660 $3.2M Add +280.0%
TCEHY Tencent Holdings Ltd.-Uns ADR 0.20% 42,000 $3.2M New
GM General Motors Co. 0.19% 37,909 $3.1M No change
MRVL Marvell Technology Inc. 0.19% 34,859 $3.0M Add +74.3%
SE Sea Ltd.-ADR 0.19% 23,000 $2.9M Add +360.0%
LIN Linde PLC 0.18% 6,810 $2.9M No change
AMAT Applied Materials Inc. 0.18% 10,846 $2.8M No change
KO The Coca-Cola Co. 0.17% 37,915 $2.7M No change
AMT American Tower Corp. 0.17% 14,900 $2.6M Add +282.1%
QQQ Invesco QQQ Trust Series 1 0.16% 4,180 $2.6M No change
ISRG Intuitive Surgical Inc. 0.16% 4,520 $2.6M No change
GILD Gilead Sciences Inc. 0.16% 20,387 $2.5M Add +27.4%
AT&T INC. 0.16% 2,520,000 $2.5M Add +24.8%
IBN Icici Bank Ltd.-Spon ADR 0.15% 81,379 $2.4M Add +28.4%
INTC Intel Corp. 0.15% 62,800 $2.3M New
REGN Regeneron Pharmaceuticals 0.15% 3,000 $2.3M No change
ANET Arista Networks Inc. 0.14% 17,102 $2.2M Reduce -20.8%
APH Amphenol Corp. Class A 0.14% 16,459 $2.2M Reduce -80.0%
HDB HDFC Bank Ltd.-ADR 0.14% 60,770 $2.2M Add +24.0%
GENERAL MILLS, INC. 0.14% 2,100,000 $2.2M New
BIIB Biogen Inc. 0.13% 12,130 $2.1M Reduce -33.1%
BSX Boston Scientific Corp. 0.13% 22,000 $2.1M Reduce -24.1%
NSC Norfolk Southern Corp. 0.13% 7,200 $2.1M New
PPG INDUSTRIES INC (PPG 1.4 03/13/27) 0.13% 2,000,000 $2.0M New
VERIZON COMMUNICATIONS (VZ 1.375 10/27/26) 0.13% 2,000,000 $2.0M New
APP AppLovin Corp. Class A 0.11% 2,500 $1.7M No change
UTHR United Therapeutics Corp. 0.10% 3,400 $1.7M Reduce -15.0%
FDX FedEx Corp. 0.10% 5,704 $1.6M No change
COST Costco Wholesale Corp. 0.10% 1,900 $1.6M New
ELV Elevance Health Inc. 0.10% 4,580 $1.6M Reduce -8.0%
DD Dupont DE Nemours Inc. 0.10% 39,728 $1.6M No change
VRTX Vertex Pharmaceuticals Inc. 0.10% 3,450 $1.6M No change
FORTIVE CORP 0.10% 1,500,000 $1.6M New
RMD Resmed Inc. 0.10% 6,400 $1.5M Reduce -13.5%
EW Edwards Lifesciences Corp. 0.10% 18,060 $1.5M Reduce -10.0%
INFY Infosys Ltd.-SP ADR 0.10% 84,825 $1.5M Add +59.7%
INTERNATIONAL BUSINESS MACHINES CORP 0.09% 1,500,000 $1.5M New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.09% 88,247 $1.5M Add +76.5%
CRH CRH PLC 0.09% 11,800 $1.5M Add +18.0%
AVY Avery Dennison Corp. 0.09% 7,980 $1.5M No change
MELI MercadoLibre Inc. 0.09% 715 $1.4M Add +38.8%
EQUINIX EUROPE 2 FINANCING CORP LLC 0.09% 1,400,000 $1.4M New
NBIX Neurocrine Biosciences Inc. 0.09% 10,000 $1.4M Reduce -9.1%
AMGN Amgen Inc. 0.08% 4,050 $1.3M Reduce -10.0%
PANW Palo Alto Networks Inc. 0.08% 7,100 $1.3M Add +18.3%
DE Deere & Co. 0.08% 2,739 $1.3M Reduce -15.4%
DELL Dell Technologies -C 0.08% 10,000 $1.3M Reduce -16.7%
ASX Ase Technology Holding -ADR 0.08% 77,527 $1.2M New
MMYT Makemytrip Ltd. 0.08% 15,099 $1.2M Add +160.3%
IQV Iqvia Holdings Inc. 0.08% 5,500 $1.2M No change
DXCM Dexcom Inc. 0.08% 18,500 $1.2M No change
COF Capital One Financial Corp. 0.07% 4,788 $1.2M Reduce -24.0%
DAR Darling Ingredients Inc. 0.07% 31,000 $1.1M Reduce -11.4%
HSAI Hesai Group 0.07% 48,570 $1.1M Add +94.3%
TTEK Tetra Tech Inc. 0.07% 32,090 $1.1M No change
VRSK Verisk Analytics Inc. 0.07% 4,750 $1.1M No change
THE PROCTER & GAMBLE COMPANY 0.06% 1,000,000 $1.0M New
VISA INC. 0.06% 1,000,000 $1.0M New
HCA HCA Healthcare Inc. 0.06% 2,148 $1.0M Add +7.4%
ADI Analog Devices Inc. 0.06% 3,655 $991K Reduce -8.6%
BMRN Biomarin Pharmaceutical Inc. 0.06% 16,500 $981K No change
INTERNATIONAL BUSINESS MACHINES CORP 0.06% 1,000,000 $970K New
SCHW Schwab (charles) Corp. 0.06% 9,500 $949K Reduce -36.7%
YUMC Yum China Holdings Inc. 0.06% 19,680 $940K Add +31.2%
XYL Xylem Inc. 0.06% 6,660 $907K No change
SNDK Sandisk Corp. 0.06% 3,800 $902K New
INTU Intuit Inc. 0.06% 1,325 $878K No change
AIR PRODUCTS & CHEMICALS (APD 0.8 05/05/32 EMTN) 0.05% 1,000,000 $859K New
LRCX Lam Research Corp. 0.05% 5,000 $856K No change
XP XP Inc. Class A 0.05% 46,033 $754K Add +31.5%
HUBS HubSpot Inc. 0.05% 1,869 $750K New
IDXX Idexx Laboratories Inc. 0.04% 985 $666K Reduce -29.6%
URI United Rentals Inc. 0.04% 822 $665K New
CPAY Corpay Inc. 0.04% 2,159 $650K New
PYPL PayPal Holdings Inc. 0.04% 11,000 $642K No change
NXT Nextpower Inc. 0.03% 6,100 $531K New
INTERNATIONAL BUSINESS MACHINES CORP 0.03% 500,000 $527K New
PEP Pepsico Inc. 0.03% 3,668 $526K Reduce -74.9%
SPGI S&P Global Inc. 0.03% 1,000 $523K Reduce -63.6%
VF CORP 0.03% 500,000 $517K New
ZTS Zoetis Inc. 0.03% 3,977 $500K Reduce -69.4%
GEV GE Vernova Inc. 0.03% 750 $490K New
BLK BlackRock Inc. 0.03% 457 $489K New
ADBE Adobe Inc. 0.03% 1,283 $449K Reduce -0.5%
IOT Samsara Inc. Class A 0.02% 11,000 $390K New
A Agilent Technologies Inc. 0.02% 2,830 $385K No change
CDNS Cadence Design SYS Inc. 0.02% 1,100 $344K New
NTRA Natera Inc. 0.02% 1,500 $344K New
ADSK Autodesk Inc. 0.02% 1,150 $340K New
CLH Clean Harbors Inc. 0.02% 1,399 $328K Reduce -26.4%
BOOKING HOLDINGS INC (BKNG 4.25 05/15/29) 0.02% 300,000 $320K New
PUBLIC STORAGE OPERATING CO 0.01% 250,000 $218K New
EMERSON ELECTRIC CO (EMR 3 03/15/31) 0.01% 200,000 $204K New
RUN Sunrun Inc. 0.01% 10,000 $184K New
CEG Constellation Energy 0.01% 500 $177K New
BE Bloom Energy Corp. Class A 0.01% 1,900 $165K New
UEC Uranium Energy Corp. 0.01% 13,587 $159K New
TEVA Teva Pharmaceutical-SP ADR 0.01% 5,000 $156K New
DECK Deckers Outdoor Corp. 0.01% 1,500 $156K New
OKLO Oklo Inc. 0.01% 2,032 $146K New
QTEC First Trust Nasdq 100 Tech I 0.01% 365 $84K No change
RACE Ferrari NV 0.00% 19 $7K No change

Portfolio Sells Q3 2025 → Q4 2025
NVDA Nvidia Corp. Reduce -12.3% 8.63% −1.57
PLTR Palantir Technologies Inc. Class A Reduce -75.6% 0.39% −1.32
META Meta Platforms Inc. Class A Reduce -14.1% 3.73% −1.28
MSFT Microsoft Corp. Reduce -0.1% 7.63% −0.85
ORCL Oracle Corp. Reduce -8.1% 1.21% −0.76
DASH DoorDash Inc. Class A Sold out 0.00% −0.64
NFLX Netflix Inc. Reduce -2.3% 1.73% −0.61
APH Amphenol Corp. Class A Reduce -80.0% 0.14% −0.53
EMR Emerson Electric Co. Reduce -35.5% 0.77% −0.45
TSM Taiwan Semiconductor-SP ADR Reduce -32.1% 0.66% −0.27
HD Home Depot Inc. Reduce -3.8% 0.98% −0.26
RBLX Roblox Corp. Class A Sold out 0.00% −0.21
EQIX Equinix Inc. Reduce -38.0% 0.24% −0.17
CVS CVS Health Corp. Reduce -22.3% 0.58% −0.15
MA Mastercard Inc. Class A Reduce -6.5% 1.33% −0.14
TMO Thermo Fisher Scientific Inc. Reduce -30.0% 0.58% −0.14
V Visa Inc. Class A Reduce -6.1% 1.58% −0.12
AVGO Broadcom Inc. Reduce -4.4% 3.49% −0.12
LOW Lowe's Cos Inc. Reduce -5.4% 0.81% −0.11
PEP Pepsico Inc. Reduce -74.9% 0.03% −0.10
ACN Accenture PLC Class A Sold out 0.00% −0.10
HOOD Robinhood Markets Inc. Class A Sold out 0.00% −0.09
ZTS Zoetis Inc. Reduce -69.4% 0.03% −0.09
ABBV Abbvie Inc. Reduce -6.0% 0.77% −0.09
FSLR First Solar Inc. Reduce -25.3% 0.50% −0.08
NET Cloudflare Inc. Class A Sold out 0.00% −0.08
ANET Arista Networks Inc. Reduce -20.8% 0.14% −0.06
SFM Sprouts Farmers Market Inc. Sold out 0.00% −0.06
CI The Cigna Group Reduce -6.6% 0.37% −0.06
NOW ServiceNow Inc. Reduce -2.1% 0.20% −0.06
SPGI S&P Global Inc. Reduce -63.6% 0.03% −0.05
BSX Boston Scientific Corp. Reduce -24.1% 0.13% −0.05
SNPS Synopsys Inc. Sold out 0.00% −0.05
MBLY Mobileye Global Inc. Class A Sold out 0.00% −0.05
ABT Abbott Laboratories Reduce -8.3% 0.22% −0.05
RMD Resmed Inc. Reduce -13.5% 0.10% −0.04
SCHW Schwab (charles) Corp. Reduce -36.7% 0.06% −0.03
DELL Dell Technologies -C Reduce -16.7% 0.08% −0.03
BIIB Biogen Inc. Reduce -33.1% 0.13% −0.03
GNRC Generac Holdings Inc. Sold out 0.00% −0.02
MANH Manhattan Associates Inc. Sold out 0.00% −0.02
MDT Medtronic PLC Reduce -3.0% 0.29% −0.02
DE Deere & Co. Reduce -15.4% 0.08% −0.02
IDXX Idexx Laboratories Inc. Reduce -29.6% 0.04% −0.02
COF Capital One Financial Corp. Reduce -24.0% 0.07% −0.01
NBIX Neurocrine Biosciences Inc. Reduce -9.1% 0.09% −0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.0% 0.82% −0.01
CLH Clean Harbors Inc. Reduce -26.4% 0.02% −0.01
UTHR United Therapeutics Corp. Reduce -15.0% 0.10% −0.01
EW Edwards Lifesciences Corp. Reduce -10.0% 0.10% −0.00

Portfolio Buys Q3 2025 → Q4 2025
MU Micron Technology Inc. Add +45.2% 1.07% +0.62
COR Cencora Inc. Add +140.9% 0.70% +0.42
WELL Welltower Inc. Add +306.6% 0.55% +0.42
WMT Walmart Inc. Add +19.6% 2.08% +0.41
PLD Prologis Inc. New 0.38% +0.38
MCD McDonald's Corp. Add +159.5% 0.55% +0.33
AMZN Amazon.com Inc. Add +3.6% 6.03% +0.29
UNH Unitedhealth Group Inc. Add +86.0% 0.70% +0.29
BOOKING HOLDINGS INC. New 0.29% +0.29
BABA Alibaba Group Holding-SP ADR New 0.26% +0.26
T AT&T Inc. New 0.24% +0.24
MS Morgan Stanley Add +69.0% 0.51% +0.23
TJX TJX Companies Inc. New 0.22% +0.22
TCEHY Tencent Holdings Ltd.-Uns ADR New 0.20% +0.20
DHR Danaher Corp. Add +211.7% 0.27% +0.19
C Citigroup Inc. Add +31.6% 0.60% +0.19
NEE Nextera Energy Inc. Add +101.5% 0.36% +0.19
QCOM Qualcomm Inc. Add +38.0% 0.67% +0.18
TXN Texas Instruments Inc. Add +344.6% 0.23% +0.17
MRK Merck & Co. Inc. Add +0.5% 0.90% +0.16
KLAC KLA Corp. Add +280.0% 0.20% +0.15
INTC Intel Corp. New 0.15% +0.15
DH EUROPE FINANCE II SARL Add +110.0% 0.28% +0.14
GENERAL MILLS, INC. New 0.14% +0.14
NSC Norfolk Southern Corp. New 0.13% +0.13
SE Sea Ltd.-ADR Add +360.0% 0.19% +0.13
PPG INDUSTRIES INC (PPG 1.4 03/13/27) New 0.13% +0.13
PFE Pfizer Inc. Add +31.3% 0.65% +0.13
VERIZON COMMUNICATIONS (VZ 1.375 10/27/26) New 0.13% +0.13
UBER Uber Technologies Inc. Add +39.0% 1.14% +0.12
AMT American Tower Corp. Add +282.1% 0.17% +0.12
COST Costco Wholesale Corp. New 0.10% +0.10
TSLA Tesla Inc. Add +7.1% 2.35% +0.10
FORTIVE CORP New 0.10% +0.10
INTERNATIONAL BUSINESS MACHINES CORP New 0.09% +0.09
EQUINIX EUROPE 2 FINANCING CORP LLC New 0.09% +0.09
ASX Ase Technology Holding -ADR New 0.08% +0.08
AZN Astrazeneca PLC-Spons ADR Add +0.0% 0.58% +0.08
MRVL Marvell Technology Inc. Add +74.3% 0.19% +0.08
THE PROCTER & GAMBLE COMPANY New 0.06% +0.06
VISA INC. New 0.06% +0.06
INTERNATIONAL BUSINESS MACHINES CORP New 0.06% +0.06
SNDK Sandisk Corp. New 0.06% +0.06
AIR PRODUCTS & CHEMICALS (APD 0.8 05/05/32 EMTN) New 0.05% +0.05
PWR Quanta Services Inc. Add +10.3% 0.61% +0.05
HUBS HubSpot Inc. New 0.05% +0.05
MMYT Makemytrip Ltd. Add +160.3% 0.08% +0.04
URI United Rentals Inc. New 0.04% +0.04
GILD Gilead Sciences Inc. Add +27.4% 0.16% +0.04
CPAY Corpay Inc. New 0.04% +0.04

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