Trillium Asset Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Trillium Asset Management, LLC reported 226 stock positions worth $3.5 billion. Its top holding was Microsoft (MSFT) at 6.2% of the portfolio, followed by Nvidia (NVDA, 5.0%) and Apple (AAPL, 4.5%). Compared with Q4 2024, it opened 4 new positions, sold out of 10, added to 49 and reduced 147. The biggest buy was Spotify Technology (SPOT, shares +51%) and the biggest sale Nvidia (NVDA, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0000884541
- Portfolio Value
- $3.5B (Q1 2025)
- SEC Filing
- 0001085146-25-002992 ↗ filed May 13, 2025
Holdings Value
Holdings 226 stocks · $3.5B
| MSFT Microsoft Corp. | 6.25% | 578,332 | $217.1M | Reduce -3.3% |
| NVDA Nvidia Corp. | 4.98% | 1,596,504 | $173.0M | Reduce -4.9% |
| AAPL Apple Inc. | 4.49% | 702,057 | $155.9M | Reduce -4.6% |
| GOOGL Alphabet Inc. Class A | 3.65% | 820,326 | $126.9M | Reduce -5.0% |
| MA Mastercard Inc. Class A | 2.60% | 164,908 | $90.4M | Reduce -1.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 2.00% | 572,015 | $69.7M | Reduce -4.3% |
| COST Costco Wholesale Corp. | 1.76% | 64,679 | $61.2M | Add +3.6% |
| NOW ServiceNow Inc. | 1.75% | 76,554 | $60.9M | Reduce -6.4% |
| PANW Palo Alto Networks Inc. | 1.66% | 338,852 | $57.8M | Reduce -5.7% |
| ECL Ecolab Inc. | 1.55% | 212,493 | $53.9M | Add +1.3% |
| NFLX Netflix Inc. | 1.41% | 52,626 | $49.1M | Add +25.1% |
| AZN Astrazeneca PLC-Spons ADR | 1.37% | 649,439 | $47.7M | Reduce -2.9% |
| PNC PNC Financial Services Group | 1.37% | 271,265 | $47.7M | Add +8.8% |
| AWK American Water Works Co. Inc. | 1.33% | 314,084 | $46.3M | Reduce -3.2% |
| SPOT Spotify Technology SA | 1.28% | 80,665 | $44.4M | Add +50.8% |
| MKC McCormick & Co.-Non VTG SHRS | 1.27% | 535,065 | $44.0M | Add +14.6% |
| UL Unilever PLC | 1.25% | 730,702 | $43.5M | Reduce -7.6% |
| TT Trane Technologies PLC | 1.22% | 126,150 | $42.5M | Add +21.6% |
| TRV The Travelers Cos Inc. | 1.21% | 159,190 | $42.1M | Reduce -9.8% |
| CMG Chipotle Mexican Grill Inc. | 1.21% | 834,120 | $41.9M | Add +4.2% |
| ICE Intercontinental Exchange Inc. | 1.21% | 242,760 | $41.9M | Add +14.8% |
| TSM Taiwan Semiconductor-SP ADR | 1.18% | 246,599 | $40.9M | Add +15.1% |
| UNP Union Pacific Corp. | 1.17% | 172,734 | $40.8M | Add +32.2% |
| V Visa Inc. Class A | 1.16% | 114,869 | $40.3M | Reduce -6.0% |
| TMO Thermo Fisher Scientific Inc. | 1.15% | 80,264 | $39.9M | Reduce -3.7% |
| ETN Eaton Corp. PLC | 1.12% | 143,438 | $39.0M | Add +0.7% |
| BFAM Bright Horizons Family Solut | 1.08% | 295,631 | $37.6M | Add +3.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.08% | 899,709 | $37.5M | Add +16.4% |
| ASML ASML Holding NV-NY Reg SHS | 1.06% | 55,770 | $37.0M | Add +7.6% |
| SYK Stryker Corp. | 1.05% | 98,146 | $36.5M | Add +16.5% |
| MELI MercadoLibre Inc. | 1.02% | 18,145 | $35.4M | Add +80.4% |
| WAB Wabtec Corp. | 0.97% | 185,390 | $33.6M | Reduce -2.4% |
| LULU Lululemon Athletica Inc. | 0.93% | 114,013 | $32.3M | Reduce -3.7% |
| JLL Jones Lang Lasalle Inc. | 0.91% | 127,370 | $31.6M | Reduce -12.2% |
| HD Home Depot Inc. | 0.87% | 82,811 | $30.3M | Reduce -2.6% |
| LIN Linde PLC | 0.82% | 60,915 | $28.4M | Reduce -3.5% |
| PLD Prologis Inc. | 0.81% | 252,149 | $28.2M | Reduce -2.8% |
| VRTX Vertex Pharmaceuticals Inc. | 0.78% | 55,816 | $27.1M | Add +229.1% |
| VRSK Verisk Analytics Inc. | 0.77% | 89,985 | $26.8M | Reduce -3.6% |
| NXPI NXP Semiconductors NV | 0.74% | 135,481 | $25.7M | Reduce -3.3% |
| AZO AutoZone Inc. | 0.71% | 6,478 | $24.7M | Reduce -3.1% |
| XYL Xylem Inc. | 0.71% | 206,741 | $24.7M | Add +4.3% |
| AFL Aflac Inc. | 0.71% | 220,872 | $24.6M | Reduce -34.2% |
| FERG Ferguson Enterprises Inc. | 0.70% | 151,960 | $24.3M | Reduce -3.3% |
| ACN Accenture PLC Class A | 0.70% | 77,494 | $24.2M | Reduce -9.4% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.69% | 161,169 | $23.8M | Reduce -3.3% |
| CDNS Cadence Design SYS Inc. | 0.67% | 91,267 | $23.2M | Add +14.0% |
| PGR Progressive Corp. | 0.66% | 81,095 | $23.0M | Reduce -5.0% |
| FSLR First Solar Inc. | 0.66% | 180,255 | $22.8M | Add +4.9% |
| PG The Procter & Gamble Co. | 0.65% | 133,344 | $22.7M | Reduce -3.6% |
| ADBE Adobe Inc. | 0.65% | 58,488 | $22.4M | Reduce -49.5% |
| EQIX Equinix Inc. | 0.64% | 27,211 | $22.2M | Reduce -1.7% |
| SHOP Shopify Inc. Class A | 0.63% | 228,743 | $21.8M | Add +2.9% |
| LPLA LPL Financial Holdings Inc. | 0.63% | 66,621 | $21.8M | Reduce -2.6% |
| EWBC East West Bancorp Inc. | 0.61% | 236,056 | $21.2M | Reduce -6.4% |
| AMT American Tower Corp. | 0.60% | 95,609 | $20.8M | Reduce -47.2% |
| ORA Ormat Technologies Inc. | 0.59% | 288,736 | $20.4M | Reduce -1.6% |
| PCTY Paylocity Holding Corp. | 0.57% | 105,028 | $19.7M | Add +5.3% |
| SBUX Starbucks Corp. | 0.56% | 200,057 | $19.6M | Reduce -15.0% |
| BKNG Booking Holdings Inc. | 0.55% | 4,164 | $19.2M | Add +668.3% |
| ALLY Ally Financial Inc. | 0.54% | 519,240 | $18.9M | Add +7.9% |
| BSX Boston Scientific Corp. | 0.53% | 180,922 | $18.3M | New |
| PWR Quanta Services Inc. | 0.51% | 69,862 | $17.8M | Reduce -5.4% |
| INTU Intuit Inc. | 0.51% | 28,674 | $17.6M | Add +66.9% |
| FITB Fifth Third Bancorp | 0.49% | 437,205 | $17.1M | Reduce -2.0% |
| MAR Marriott International Class A | 0.48% | 70,344 | $16.8M | Reduce -7.0% |
| DECK Deckers Outdoor Corp. | 0.47% | 147,161 | $16.5M | Add +6.9% |
| EHC Encompass Health Corp. | 0.47% | 160,833 | $16.3M | Add +0.2% |
| VMI Valmont Industries | 0.46% | 56,481 | $16.1M | Reduce -1.6% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.46% | 206,674 | $16.0M | Add +2.8% |
| ALC Alcon Inc. filed as ALCON AG | 0.42% | 153,800 | $14.6M | Reduce -0.3% |
| ELV Elevance Health Inc. | 0.41% | 33,023 | $14.4M | Reduce -55.1% |
| SYY Sysco Corp. | 0.41% | 190,304 | $14.3M | Reduce -4.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.40% | 166,398 | $14.0M | Reduce -6.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.40% | 199,435 | $13.8M | Reduce -14.1% |
| MYRG MYR Group Inc./Delaware | 0.40% | 122,252 | $13.8M | Reduce -0.8% |
| UNH Unitedhealth Group Inc. | 0.38% | 25,027 | $13.1M | Reduce -37.6% |
| AVY Avery Dennison Corp. | 0.37% | 73,039 | $13.0M | Add +1.3% |
| TREX Trex Company Inc. | 0.37% | 220,746 | $12.8M | Add +6.4% |
| TTEK Tetra Tech Inc. | 0.37% | 435,984 | $12.8M | Reduce -15.6% |
| NVT Nvent Electric PLC | 0.37% | 242,505 | $12.7M | Reduce -0.9% |
| NEE Nextera Energy Inc. | 0.36% | 178,002 | $12.6M | Reduce -4.0% |
| AMAT Applied Materials Inc. | 0.36% | 85,430 | $12.4M | Add +111.9% |
| MMSI Merit Medical Systems Inc. | 0.34% | 111,757 | $11.8M | Reduce -1.8% |
| LW Lamb Weston Holdings Inc. | 0.34% | 221,473 | $11.8M | Reduce -1.1% |
| GILD Gilead Sciences Inc. | 0.34% | 105,156 | $11.8M | Reduce -27.7% |
| MRK Merck & Co. Inc. | 0.33% | 128,483 | $11.5M | Reduce -66.1% |
| CYBR Cyberark Software Ltd./Israel | 0.32% | 32,468 | $11.0M | Reduce -22.0% |
| TGT Target Corp. | 0.31% | 104,679 | $10.9M | Reduce -66.6% |
| DSI iShares ESG MSCI KLD 400 ETF | 0.31% | 105,571 | $10.8M | Reduce -31.0% |
| CSCO Cisco Systems Inc. | 0.30% | 171,322 | $10.6M | Reduce -6.5% |
| DE Deere & Co. | 0.30% | 22,374 | $10.5M | Add +1304.5% |
| URI United Rentals Inc. | 0.29% | 15,892 | $10.0M | Add +25.1% |
| BURL Burlington Stores Inc. | 0.28% | 40,858 | $9.7M | Reduce -1.9% |
| HXL Hexcel Corp. | 0.28% | 176,745 | $9.7M | Reduce -2.8% |
| ADSK Autodesk Inc. | 0.27% | 35,950 | $9.4M | Reduce -2.3% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.26% | 48,546 | $8.9M | Reduce -1.6% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.25% | 77,370 | $8.8M | Reduce -1.6% |
| THG Hanover Insurance Group Inc./ | 0.25% | 50,600 | $8.8M | Reduce -2.1% |
| LECO Lincoln Electric Holdings | 0.25% | 45,126 | $8.5M | Add +22.3% |
Portfolio Sells Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | Reduce -4.9% | 4.98% | −0.86 |
| TGT Target Corp. | Reduce -66.6% | 0.31% | −0.78 |
| ADBE Adobe Inc. | Reduce -49.5% | 0.65% | −0.69 |
| MRK Merck & Co. Inc. | Reduce -66.1% | 0.33% | −0.65 |
| GOOGL Alphabet Inc. Class A | Reduce -5.0% | 3.65% | −0.59 |
| BALL Ball Corp. | Reduce -96.5% | 0.02% | −0.53 |
| NOW ServiceNow Inc. | Reduce -6.4% | 1.75% | −0.49 |
| UPS United Parcel Service Class B | Reduce -92.4% | 0.02% | −0.31 |
| AAPL Apple Inc. | Reduce -4.6% | 4.49% | −0.29 |
| ELV Elevance Health Inc. | Reduce -55.1% | 0.41% | −0.29 |
| MSFT Microsoft Corp. | Reduce -3.3% | 6.25% | −0.28 |
| IQV Iqvia Holdings Inc. | Reduce -86.2% | 0.05% | −0.28 |
| AMT American Tower Corp. | Reduce -47.2% | 0.60% | −0.26 |
| SBAC SBA Communications Corp. | Reduce -90.4% | 0.03% | −0.26 |
| ROK Rockwell Automation Inc. | Reduce -51.4% | 0.23% | −0.25 |
| LULU Lululemon Athletica Inc. | Reduce -3.7% | 0.93% | −0.24 |
| MSCI MSCI Inc. | Reduce -77.0% | 0.07% | −0.23 |
| DIS The Walt Disney Co. | Reduce -93.1% | 0.02% | −0.23 |
| IPGP Ipg Photonics Corp. | Sold out | 0.00% | −0.22 |
| AFL Aflac Inc. | Reduce -34.2% | 0.71% | −0.19 |
| EW Edwards Lifesciences Corp. | Sold out | 0.00% | −0.18 |
| HOLX Hologic Inc. | Reduce -90.0% | 0.02% | −0.17 |
| TTEK Tetra Tech Inc. | Reduce -15.6% | 0.37% | −0.17 |
| WM Waste Management Inc. | Reduce -77.9% | 0.06% | −0.17 |
| UNH Unitedhealth Group Inc. | Reduce -37.6% | 0.38% | −0.15 |
| APTV Aptiv PLC | Reduce -95.5% | 0.01% | −0.15 |
| LOB Live Oak Bancshares Inc. | Sold out | 0.00% | −0.14 |
| DSI iShares ESG MSCI KLD 400 ETF | Reduce -31.0% | 0.31% | −0.13 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -14.1% | 0.40% | −0.12 |
| ROG Rogers Corp. | Reduce -45.3% | 0.07% | −0.11 |
| PWR Quanta Services Inc. | Reduce -5.4% | 0.51% | −0.09 |
| ACN Accenture PLC Class A | Reduce -9.4% | 0.70% | −0.08 |
| MIDD Middleby Corp. | Reduce -52.4% | 0.12% | −0.08 |
| MYRG MYR Group Inc./Delaware | Reduce -0.8% | 0.40% | −0.08 |
| FRPT Freshpet Inc. | Reduce -2.5% | 0.11% | −0.07 |
| NVT Nvent Electric PLC | Reduce -0.9% | 0.37% | −0.07 |
| MAR Marriott International Class A | Reduce -7.0% | 0.48% | −0.06 |
| PEN Penumbra Inc. | Reduce -39.2% | 0.18% | −0.06 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Reduce -3.3% | 0.69% | −0.05 |
| LW Lamb Weston Holdings Inc. | Reduce -1.1% | 0.34% | −0.05 |
| CYBR Cyberark Software Ltd./Israel | Reduce -22.0% | 0.32% | −0.04 |
| JLL Jones Lang Lasalle Inc. | Reduce -12.2% | 0.91% | −0.04 |
| EQIX Equinix Inc. | Reduce -1.7% | 0.64% | −0.04 |
| PANW Palo Alto Networks Inc. | Reduce -5.7% | 1.66% | −0.03 |
| BURL Burlington Stores Inc. | Reduce -1.9% | 0.28% | −0.03 |
| VITL Vital Farms Inc. | Reduce -15.4% | 0.08% | −0.03 |
| OMCL Omnicell Inc. | Reduce -0.6% | 0.14% | −0.02 |
| ICLR Icon PLC | Reduce -1.1% | 0.19% | −0.02 |
| HXL Hexcel Corp. | Reduce -2.8% | 0.28% | −0.02 |
| EWBC East West Bancorp Inc. | Reduce -6.4% | 0.61% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| SPOT Spotify Technology SA | Add +50.8% | 1.28% | +0.66 |
| VRTX Vertex Pharmaceuticals Inc. | Add +229.1% | 0.78% | +0.60 |
| MELI MercadoLibre Inc. | Add +80.4% | 1.02% | +0.58 |
| BSX Boston Scientific Corp. | New | 0.53% | +0.53 |
| BKNG Booking Holdings Inc. | Add +668.3% | 0.55% | +0.48 |
| NFLX Netflix Inc. | Add +25.1% | 1.41% | +0.44 |
| UNP Union Pacific Corp. | Add +32.2% | 1.17% | +0.40 |
| ICE Intercontinental Exchange Inc. | Add +14.8% | 1.21% | +0.39 |
| MKC McCormick & Co.-Non VTG SHRS | Add +14.6% | 1.27% | +0.34 |
| DE Deere & Co. | Add +1304.5% | 0.30% | +0.28 |
| COST Costco Wholesale Corp. | Add +3.6% | 1.76% | +0.28 |
| ECL Ecolab Inc. | Add +1.3% | 1.55% | +0.28 |
| SYK Stryker Corp. | Add +16.5% | 1.05% | +0.27 |
| BFAM Bright Horizons Family Solut | Add +3.9% | 1.08% | +0.26 |
| TT Trane Technologies PLC | Add +21.6% | 1.22% | +0.23 |
| INTU Intuit Inc. | Add +66.9% | 0.51% | +0.23 |
| BAC Bank of America Corp. | Add +16.4% | 1.08% | +0.20 |
| AMAT Applied Materials Inc. | Add +111.9% | 0.36% | +0.19 |
| ASML ASML Holding NV-NY Reg SHS | Add +7.6% | 1.06% | +0.13 |
| PNC PNC Financial Services Group | Add +8.8% | 1.37% | +0.13 |
| CAVA Cava Group Inc. | New | 0.13% | +0.13 |
| XYL Xylem Inc. | Add +4.3% | 0.71% | +0.11 |
| BMI Badger Meter Inc. | New | 0.11% | +0.11 |
| ALLY Ally Financial Inc. | Add +7.9% | 0.54% | +0.10 |
| ALGM Allegro Microsystems Inc. | Add +27.2% | 0.24% | +0.09 |
| EHC Encompass Health Corp. | Add +0.2% | 0.47% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | Add +15.1% | 1.18% | +0.08 |
| AJG Arthur J Gallagher & Co. | New | 0.08% | +0.08 |
| FISV Fiserv Inc. | Add +867.5% | 0.08% | +0.07 |
| LECO Lincoln Electric Holdings | Add +22.3% | 0.25% | +0.07 |
| URI United Rentals Inc. | Add +25.1% | 0.29% | +0.05 |
| PCTY Paylocity Holding Corp. | Add +5.3% | 0.57% | +0.05 |
| CDNS Cadence Design SYS Inc. | Add +14.0% | 0.67% | +0.04 |
| SITM Sitime Corp. | Add +51.4% | 0.21% | +0.03 |
| AVY Avery Dennison Corp. | Add +1.3% | 0.37% | +0.02 |
| SF Stifel Financial Corp. | Add +12.9% | 0.22% | +0.02 |
| IFF Intl Flavors & Fragrances | Add +2.8% | 0.46% | +0.02 |
| SHOP Shopify Inc. Class A | Add +2.9% | 0.63% | +0.02 |
| TMDX Transmedics Group Inc. | Add +7.4% | 0.07% | +0.02 |
| NGVT Ingevity Corp. | Add +2.7% | 0.13% | +0.01 |
| NKE Nike Inc. Class B | Add +10.2% | 0.23% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +4.2% | 0.06% | +0.01 |
| GE General Electric | Add +0.1% | 0.02% | +0.00 |
| CVLC Calvert US L-C CR Resp Index | Add +6.4% | 0.05% | +0.00 |
| TXN Texas Instruments Inc. | Add +2.8% | 0.01% | +0.00 |
| GEV GE Vernova Inc. | Add +0.5% | 0.01% | +0.00 |
| BWA Borgwarner Inc. | Add +0.0% | 0.01% | 0.00 |
| TREX Trex Company Inc. | Add +6.4% | 0.37% | −0.00 |
| ELF Elf Beauty Inc. | Add +59.0% | 0.08% | −0.01 |
| CMG Chipotle Mexican Grill Inc. | Add +4.2% | 1.21% | −0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 230 | $3.3B | NVDA, GOOGL, AAPL, MSFT, PANW |
| Q1 2026 | 230 | $3.0B | NVDA, GOOGL, MSFT, AAPL, TJX |
| Q4 2025 | 232 | $3.3B | NVDA, MSFT, GOOGL, AAPL, MA |
| Q3 2025 | 233 | $3.8B | NVDA, MSFT, GOOGL, AAPL, MA |
| Q2 2025 | 229 | $3.7B | MSFT, NVDA, AAPL, GOOGL, MA |
| Q1 2025 | 226 | $3.5B | MSFT, NVDA, AAPL, GOOGL, MA |
| Q4 2024 | 232 | $3.9B | MSFT, NVDA, AAPL, GOOGL, MA |
| Q3 2024 | 240 | $4.1B | MSFT, NVDA, AAPL, GOOGL, MA |
| Q2 2024 | 236 | $4.0B | MSFT, NVDA, GOOGL, AAPL, MA |
| Q1 2024 | 235 | $3.9B | MSFT, NVDA, GOOGL, AAPL, MA |