Trillium Asset Management, LLC

Name: TRILLIUM ASSET MANAGEMENT, LLC 13F holdings, Q3 2025
Creator: TRILLIUM ASSET MANAGEMENT, LLC
Published: 2025-11-14

Q2 2026Q1 2026Q4 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Trillium Asset Management, LLC reported 233 stock positions worth $3.8 billion. Its top holding was Nvidia (NVDA) at 7.6% of the portfolio, followed by Microsoft (MSFT, 7.2%) and Alphabet Class A (GOOGL, 4.7%). Compared with Q2 2025, it opened 8 new positions, sold out of 4, added to 21 and reduced 173. The biggest buy was a new position in CMS Energy (CMS) and the biggest sale Chipotle Mexican Grill (CMG, shares −3%).

Most Recent 13F: Q2 2026
Location: BOSTON, MA
CIK: 0000884541
Portfolio Value: $3.8B (Q3 2025)
SEC Filing: 0000884541-25-000003 ↗ filed Nov 14, 2025

Holdings Value

Holdings 233 stocks · $3.8B


NVDA Nvidia Corp.	7.58%	1,537,381	$286.8M	Reduce -2.1%
MSFT Microsoft Corp.	7.23%	528,244	$273.6M	Reduce -4.8%
GOOGL Alphabet Inc. Class A	4.72%	735,212	$178.7M	Reduce -6.9%
AAPL Apple Inc.	4.48%	666,030	$169.6M	Reduce -2.7%
MA Mastercard Inc. Class A	2.27%	151,376	$86.1M	Reduce -2.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW	2.00%	524,684	$75.8M	Reduce -3.0%
NOW ServiceNow Inc.	1.90%	78,178	$71.9M	Add +7.7%
PANW Palo Alto Networks Inc.	1.83%	340,456	$69.3M	Add +5.1%
NFLX Netflix Inc.	1.53%	48,355	$58.0M	Reduce -3.3%
ECL Ecolab Inc.	1.52%	209,609	$57.4M	Reduce -2.3%
COST Costco Wholesale Corp.	1.49%	60,898	$56.4M	Reduce -1.8%
TSM Taiwan Semiconductor-SP ADR	1.44%	194,717	$54.4M	Reduce -18.2%
ASML ASML Holding NV-NY Reg SHS	1.35%	52,716	$51.0M	Reduce -1.4%
PNC PNC Financial Services Group	1.34%	253,193	$50.9M	Reduce -2.0%
ETN Eaton Corp. PLC	1.34%	135,795	$50.8M	Reduce -1.2%
TT Trane Technologies PLC	1.28%	115,284	$48.6M	Reduce -2.5%
SPOT Spotify Technology SA	1.24%	67,398	$47.0M	Reduce -8.2%
ICE Intercontinental Exchange Inc.	1.19%	266,814	$45.0M	Reduce -1.9%
BAC Bank of America Corp. filed as BANK AMERICA CORP	1.18%	868,634	$44.8M	Reduce -1.3%
AZN Astrazeneca PLC-Spons ADR	1.17%	575,918	$44.2M	Reduce -1.7%
MELI MercadoLibre Inc.	1.06%	17,227	$40.3M	Reduce -2.0%
AWK American Water Works Co. Inc.	1.01%	275,686	$38.4M	Reduce -8.6%
INTU Intuit Inc.	1.01%	56,081	$38.3M	Add +39.7%
FSLR First Solar Inc.	1.00%	172,312	$38.0M	Reduce -6.5%
UL Unilever PLC	0.99%	632,755	$37.5M	Reduce -1.8%
TRV The Travelers Cos Inc.	0.99%	133,920	$37.4M	Reduce -9.1%
UNP Union Pacific Corp.	0.96%	153,878	$36.4M	Reduce -6.9%
JLL Jones Lang Lasalle Inc.	0.95%	120,606	$36.0M	Reduce -2.1%
V Visa Inc. Class A	0.89%	99,049	$33.8M	Reduce -3.9%
MKC McCormick & Co.-Non VTG SHRS	0.88%	499,760	$33.4M	Reduce -2.3%
FERG Ferguson Enterprises Inc.	0.87%	146,646	$32.9M	Reduce -1.9%
SYK Stryker Corp.	0.87%	88,670	$32.8M	Reduce -2.1%
HD Home Depot Inc.	0.85%	79,684	$32.3M	Reduce -1.2%
NXPI NXP Semiconductors NV	0.83%	137,645	$31.3M	Add +4.7%
WAB Wabtec Corp.	0.82%	154,179	$30.9M	Reduce -10.0%
CMG Chipotle Mexican Grill Inc.	0.81%	781,568	$30.6M	Reduce -3.4%
BFAM Bright Horizons Family Solut	0.80%	279,411	$30.3M	Reduce -1.3%
PLD Prologis Inc.	0.80%	263,480	$30.2M	Reduce -2.3%
CDNS Cadence Design SYS Inc.	0.78%	84,104	$29.5M	Reduce -3.0%
XYL Xylem Inc.	0.77%	197,802	$29.2M	Reduce -1.3%
SHOP Shopify Inc. Class A	0.77%	196,329	$29.2M	Reduce -6.8%
LIN Linde PLC	0.72%	57,486	$27.3M	Reduce -1.2%
VRTX Vertex Pharmaceuticals Inc.	0.71%	68,385	$26.8M	Add +11.2%
AZO AutoZone Inc.	0.70%	6,185	$26.6M	Reduce -1.9%
BKNG Booking Holdings Inc.	0.70%	4,908	$26.5M	Add +14.6%
EHC Encompass Health Corp.	0.69%	205,941	$26.2M	Add +0.3%
PWR Quanta Services Inc.	0.67%	61,503	$25.5M	Reduce -9.5%
FITB Fifth Third Bancorp	0.64%	544,655	$24.3M	Reduce -1.6%
ORA Ormat Technologies Inc.	0.62%	245,545	$23.6M	Reduce -11.3%
NVT Nvent Electric PLC	0.61%	235,237	$23.2M	Reduce -1.3%
EWBC East West Bancorp Inc.	0.60%	214,178	$22.8M	Reduce -1.8%
URI United Rentals Inc.	0.58%	23,127	$22.1M	Add +6.8%
VRSK Verisk Analytics Inc.	0.57%	85,124	$21.4M	Reduce -0.6%
LPLA LPL Financial Holdings Inc.	0.56%	63,335	$21.1M	Reduce -1.6%
VMI Valmont Industries	0.55%	53,869	$20.9M	Reduce -1.4%
EQIX Equinix Inc.	0.55%	26,474	$20.7M	Reduce -0.9%
ALLY Ally Financial Inc.	0.52%	498,810	$19.6M	Reduce -1.1%
PG The Procter & Gamble Co.	0.50%	123,774	$19.0M	Reduce -1.4%
DECK Deckers Outdoor Corp.	0.50%	186,263	$18.9M	Reduce -1.2%
MYRG MYR Group Inc./Delaware	0.50%	90,197	$18.8M	Reduce -7.3%
JBHT Hunt (jb) Transprt SVCS Inc.	0.49%	139,655	$18.7M	Reduce -0.9%
LULU Lululemon Athletica Inc.	0.48%	102,396	$18.2M	Reduce -3.9%
AMT American Tower Corp.	0.48%	94,657	$18.2M	Add +9.2%
TMO Thermo Fisher Scientific Inc.	0.47%	36,820	$17.9M	Reduce -50.8%
BSX Boston Scientific Corp.	0.47%	181,723	$17.7M	Reduce -0.6%
MAR Marriott International Class A	0.46%	66,959	$17.4M	Reduce -3.1%
AMAT Applied Materials Inc.	0.45%	83,717	$17.1M	Reduce -3.1%
AFL Aflac Inc.	0.45%	152,109	$17.0M	Reduce -27.8%
ACN Accenture PLC Class A	0.43%	66,564	$16.4M	Reduce -9.6%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.43%	150,141	$16.4M	Reduce -7.0%
PCTY Paylocity Holding Corp.	0.42%	100,928	$16.1M	Reduce -1.2%
SBUX Starbucks Corp.	0.41%	184,427	$15.6M	Reduce -3.1%
PGR Progressive Corp.	0.41%	62,741	$15.5M	Reduce -19.5%
ALC Alcon Inc. filed as ALCON AG	0.41%	207,691	$15.5M	Reduce -0.7%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO	0.39%	47,820	$14.8M	Add +519.0%
CYBR Cyberark Software Ltd./Israel	0.39%	30,210	$14.6M	Reduce -1.6%
TTEK Tetra Tech Inc.	0.37%	418,721	$14.0M	Reduce -1.0%
SITM Sitime Corp.	0.36%	44,846	$13.5M	Reduce -1.5%
NEE Nextera Energy Inc.	0.34%	172,194	$13.0M	Reduce -1.9%
CMS CMS Energy Corp.	0.34%	174,316	$12.8M	New
SYY Sysco Corp.	0.34%	154,463	$12.7M	Reduce -16.3%
LW Lamb Weston Holdings Inc.	0.33%	215,045	$12.5M	Add +0.1%
AVY Avery Dennison Corp.	0.29%	68,790	$11.2M	Reduce -3.2%
TREX Trex Company Inc.	0.29%	215,089	$11.1M	Add +0.5%
GILD Gilead Sciences Inc.	0.29%	98,595	$10.9M	Reduce -3.8%
ADSK Autodesk Inc.	0.28%	33,327	$10.6M	Reduce -1.2%
NVO Novo-Nordisk A/S-Spons ADR	0.28%	189,156	$10.5M	Reduce -0.9%
ISRG Intuitive Surgical Inc.	0.27%	23,066	$10.3M	Reduce -2.2%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA	0.27%	167,530	$10.3M	Reduce -2.9%
LECO Lincoln Electric Holdings	0.26%	42,462	$10.0M	Reduce -1.4%
DSI iShares ESG MSCI KLD 400 ETF	0.26%	78,173	$9.8M	Add +7.6%
UNH Unitedhealth Group Inc.	0.25%	27,769	$9.6M	Reduce -0.4%
ELV Elevance Health Inc.	0.25%	29,436	$9.5M	Reduce -9.0%
NXT Nextpower Inc. filed as NEXTRACKER INC	0.24%	125,382	$9.3M	Add +53.1%
DE Deere & Co.	0.23%	19,451	$8.9M	Reduce -5.6%
MRK Merck & Co. Inc.	0.23%	105,227	$8.8M	Reduce -7.4%
SF Stifel Financial Corp.	0.23%	77,578	$8.8M	Reduce -1.5%
MMSI Merit Medical Systems Inc.	0.23%	104,550	$8.7M	Reduce -1.9%
NYT New York Times Co. Class A	0.23%	151,556	$8.7M	Reduce -1.9%
WBS Webster Financial Corp.	0.23%	145,654	$8.7M	Reduce -1.6%

Show all 233 holdings

Portfolio Sells Q2 2025 → Q3 2025


CMG Chipotle Mexican Grill Inc.	Reduce -3.4%	0.81%	−0.41
TMO Thermo Fisher Scientific Inc.	Reduce -50.8%	0.47%	−0.34
SPOT Spotify Technology SA	Reduce -8.2%	1.24%	−0.27
NFLX Netflix Inc.	Reduce -3.3%	1.53%	−0.27
LULU Lululemon Athletica Inc.	Reduce -3.9%	0.48%	−0.20
MSFT Microsoft Corp.	Reduce -4.8%	7.23%	−0.20
MELI MercadoLibre Inc.	Reduce -2.0%	1.06%	−0.17
COST Costco Wholesale Corp.	Reduce -1.8%	1.49%	−0.16
MKC McCormick & Co.-Non VTG SHRS	Reduce -2.3%	0.88%	−0.16
ACN Accenture PLC Class A	Reduce -9.6%	0.43%	−0.16
ALGM Allegro Microsystems Inc.	Reduce -46.4%	0.13%	−0.16
ICE Intercontinental Exchange Inc.	Reduce -1.9%	1.19%	−0.16
VRSK Verisk Analytics Inc.	Reduce -0.6%	0.57%	−0.15
PGR Progressive Corp.	Reduce -19.5%	0.41%	−0.15
AFL Aflac Inc.	Reduce -27.8%	0.45%	−0.15
WAB Wabtec Corp.	Reduce -10.0%	0.82%	−0.15
BFAM Bright Horizons Family Solut	Reduce -1.3%	0.80%	−0.14
AWK American Water Works Co. Inc.	Reduce -8.6%	1.01%	−0.11
TT Trane Technologies PLC	Reduce -2.5%	1.28%	−0.11
CFLT Confluent Inc. Class A	Sold out	0.00%	−0.10
SYK Stryker Corp.	Reduce -2.1%	0.87%	−0.10
LPLA LPL Financial Holdings Inc.	Reduce -1.6%	0.56%	−0.09
V Visa Inc. Class A	Reduce -3.9%	0.89%	−0.09
JKHY Jack Henry & Associates Inc.	Reduce -25.3%	0.14%	−0.09
ALC Alcon Inc.	Reduce -0.7%	0.41%	−0.09
ELV Elevance Health Inc.	Reduce -9.0%	0.25%	−0.09
NVO Novo-Nordisk A/S-Spons ADR	Reduce -0.9%	0.28%	−0.08
PCTY Paylocity Holding Corp.	Reduce -1.2%	0.42%	−0.07
TRV The Travelers Cos Inc.	Reduce -9.1%	0.99%	−0.07
ISRG Intuitive Surgical Inc.	Reduce -2.2%	0.27%	−0.07
UL Unilever PLC	Reduce -1.8%	0.99%	−0.07
IFF Intl Flavors & Fragrances	Reduce -2.9%	0.27%	−0.07
UNP Union Pacific Corp.	Reduce -6.9%	0.96%	−0.06
WTRG Essential Utilities Inc.	Sold out	0.00%	−0.06
MA Mastercard Inc. Class A	Reduce -2.0%	2.27%	−0.06
BSX Boston Scientific Corp.	Reduce -0.6%	0.47%	−0.06
SBUX Starbucks Corp.	Reduce -3.1%	0.41%	−0.06
CAVA Cava Group Inc.	Reduce -1.9%	0.12%	−0.05
JBHT Hunt (jb) Transprt SVCS Inc.	Reduce -0.9%	0.49%	−0.05
TGT Target Corp.	Reduce -10.8%	0.19%	−0.05
MAR Marriott International Class A	Reduce -3.1%	0.46%	−0.05
DE Deere & Co.	Reduce -5.6%	0.23%	−0.05
HDB HDFC Bank Ltd.-ADR	Reduce -7.4%	0.18%	−0.04
AVY Avery Dennison Corp.	Reduce -3.2%	0.29%	−0.04
SYY Sysco Corp.	Reduce -16.3%	0.34%	−0.04
TTEK Tetra Tech Inc.	Reduce -1.0%	0.37%	−0.04
ECL Ecolab Inc.	Reduce -2.3%	1.52%	−0.04
THG Hanover Insurance Group Inc./	Reduce -21.7%	0.18%	−0.04
DT Dynatrace Inc.	Reduce -1.6%	0.21%	−0.04
MMSI Merit Medical Systems Inc.	Reduce -1.9%	0.23%	−0.04

Portfolio Buys Q2 2025 → Q3 2025


CMS CMS Energy Corp.	New	0.34%	+0.34
AJG Arthur J Gallagher & Co.	Add +519.0%	0.39%	+0.32
INTU Intuit Inc.	Add +39.7%	1.01%	+0.16
URI United Rentals Inc.	Add +6.8%	0.58%	+0.14
STEP Stepstone Group Inc. Class A	New	0.14%	+0.14
NXT Nextpower Inc.	Add +53.1%	0.24%	+0.13
PTC PTC Inc.	New	0.11%	+0.11
SFM Sprouts Farmers Market Inc.	New	0.07%	+0.07
NXPI NXP Semiconductors NV	Add +4.7%	0.83%	+0.05
PANW Palo Alto Networks Inc.	Add +5.1%	1.83%	+0.05
DSI iShares ESG MSCI KLD 400 ETF	Add +7.6%	0.26%	+0.03
BKNG Booking Holdings Inc.	Add +14.6%	0.70%	+0.03
LW Lamb Weston Holdings Inc.	Add +0.1%	0.33%	+0.03
EHC Encompass Health Corp.	Add +0.3%	0.69%	+0.01
SPY SS SPDR S&P 500 ETF Trust-US	Add +12.6%	0.05%	+0.01
VGT Vanguard Info Tech ETF	New	0.01%	+0.01
MS Morgan Stanley	New	0.01%	+0.01
CCSO CRBN Clctv CLM Sol US Eqy	New	0.01%	+0.01
INTC Intel Corp.	New	0.01%	+0.01
BWA Borgwarner Inc.	Add +4.1%	0.02%	+0.00
AVGO Broadcom Inc.	Add +0.7%	0.02%	+0.00
HUM Humana Inc.	Add +6.0%	0.01%	+0.00
VZ Verizon Communications Inc.	Add +1.0%	0.02%	+0.00
DIS The Walt Disney Co.	Add +1.1%	0.02%	−0.00
DPZ Domino's Pizza Inc.	Add +0.1%	0.20%	−0.01
TREX Trex Company Inc.	Add +0.5%	0.29%	−0.02
VRTX Vertex Pharmaceuticals Inc.	Add +11.2%	0.71%	−0.03
AMT American Tower Corp.	Add +9.2%	0.48%	−0.03
NOW ServiceNow Inc.	Add +7.7%	1.90%	−0.11

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