Triodos Investment Management BV
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Triodos Investment Management BV reported 50 stock positions worth $1.2 billion. Its top holding was Advanced Drainage Systems (WMS) at 4.9% of the portfolio, followed by Nvidia (NVDA, 4.7%) and Mastercard Class A (MA, 4.3%). Compared with Q4 2024, it opened 4 new positions, sold out of 3, added to 19 and reduced 17. The biggest buy was a new position in Millicom Intl Cellular (TIGO) and the biggest sale Smurfit Westrock (SW, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- DRIEBERGEN-RIJSENBURG, P7
- CIK
- 0001748729
- Portfolio Value
- $1.2B (Q1 2025)
- SEC Filing
- 0001748729-25-000007 ↗ filed May 14, 2025
Holdings Value
Holdings 50 stocks · $1.2B
| WMS Advanced Drainage Systems Inc. | 4.91% | 552,061 | $59.7M | Add +2.3% |
| NVDA Nvidia Corp. | 4.73% | 525,070 | $57.6M | Add +1.1% |
| MA Mastercard Inc. Class A | 4.30% | 96,864 | $52.4M | Reduce -0.4% |
| KLAC KLA Corp. | 4.13% | 74,651 | $50.3M | Add +0.4% |
| DE Deere & Co. | 3.71% | 97,100 | $45.2M | Reduce -5.2% |
| ISRG Intuitive Surgical Inc. | 3.64% | 89,987 | $44.3M | Reduce -1.1% |
| EBAY eBay Inc. | 3.63% | 657,698 | $44.2M | Reduce -0.1% |
| PG The Procter & Gamble Co. | 3.52% | 255,195 | $42.9M | Reduce -0.8% |
| ELV Elevance Health Inc. | 3.50% | 98,730 | $42.7M | Reduce -1.3% |
| TSM Taiwan Semiconductor-SP ADR | 3.41% | 250,953 | $41.5M | Add +7.3% |
| PANW Palo Alto Networks Inc. | 3.13% | 220,800 | $38.1M | Reduce -0.8% |
| GEN Gen Digital Inc. | 3.04% | 1,401,738 | $37.0M | Add +0.9% |
| EW Edwards Lifesciences Corp. | 2.96% | 507,758 | $36.0M | Reduce -0.4% |
| ADBE Adobe Inc. | 2.72% | 85,737 | $33.1M | Reduce -0.5% |
| T AT&T Inc. | 2.68% | 1,157,265 | $32.6M | Add +0.2% |
| FSLR First Solar Inc. | 2.60% | 248,500 | $31.6M | Add +19.2% |
| RMD Resmed Inc. | 2.43% | 134,400 | $29.6M | Reduce -0.6% |
| XYL Xylem Inc. | 2.35% | 239,500 | $28.6M | Add +2.4% |
| PLNT Planet Fitness Inc. Class A | 2.30% | 291,000 | $28.0M | Reduce -7.3% |
| DAR Darling Ingredients Inc. | 2.29% | 885,414 | $27.9M | Add +3.8% |
| MWA Mueller Water Products Inc. Class A | 2.21% | 1,052,500 | $26.8M | Reduce -20.5% |
| TIGO Millicom Intl Cellular S.A. | 2.20% | 886,500 | $26.8M | New |
| CSL Carlisle Cos Inc. | 1.99% | 70,600 | $24.2M | Add +36.8% |
| AKAM Akamai Technologies Inc. | 1.97% | 299,224 | $24.0M | Reduce -0.9% |
| CWT California Water Service Grp | 1.95% | 493,000 | $23.8M | No change |
| ALLE Allegion PLC | 1.88% | 178,000 | $22.8M | No change |
| AYI Acuity Inc. | 1.82% | 84,800 | $22.2M | No change |
| OLED Universal Display Corp. | 1.64% | 137,700 | $20.0M | No change |
| OC Owens Corning | 1.64% | 140,000 | $20.0M | No change |
| NOMD Nomad Foods Ltd. | 1.56% | 956,479 | $19.0M | Reduce -1.7% |
| STRA Strategic Education Inc. | 1.55% | 220,000 | $18.8M | No change |
| GNTX Gentex Corp. | 1.54% | 801,000 | $18.7M | No change |
| WTS Watts Water Technologies-A | 1.51% | 90,000 | $18.4M | Add +8.4% |
| MSA Msa Safety Inc. | 1.48% | 122,000 | $18.1M | Add +19.6% |
| ARE Alexandria Real Estate Equit | 1.39% | 177,100 | $16.9M | Add +2.7% |
| ENPH Enphase Energy Inc. | 1.37% | 270,161 | $16.7M | Add +29.1% |
| HASI Ha Sustainable Infrastructur | 1.33% | 550,000 | $16.2M | No change |
| COO The Cooper Cos Inc. | 1.25% | 181,000 | $15.2M | New |
| BMI Badger Meter Inc. | 1.02% | 65,000 | $12.4M | No change |
| INGR Ingredion Inc. | 0.88% | 79,000 | $10.7M | Add +31.7% |
| LRN Stride Inc. | 0.27% | 26,000 | $3.3M | Reduce -10.3% |
| HOLX Hologic Inc. | 0.26% | 52,500 | $3.2M | Add +25.0% |
| RVTY Revvity Inc. | 0.26% | 29,500 | $3.1M | Add +24.2% |
| BFAM Bright Horizons Family Solut | 0.23% | 22,000 | $2.8M | No change |
| BLKB Blackbaud Inc. | 0.22% | 42,500 | $2.6M | Add +21.4% |
| ZWS Zurn Elkay Water Solutions C | 0.22% | 79,700 | $2.6M | Add +4.9% |
| KIDS Orthopediatrics Corp. | 0.18% | 90,000 | $2.2M | Reduce -3.2% |
| LIF LIFE360 Inc. | 0.10% | 32,500 | $1.3M | New |
| DUOL Duolingo | 0.09% | 3,500 | $1.1M | New |
| SW Smurfit Westrock PLC | 0.03% | 8,700 | $387K | Reduce -98.6% |
Portfolio Sells Q4 2024 → Q1 2025
| SW Smurfit Westrock PLC | Reduce -98.6% | 0.03% | −2.60 |
| ADBE Adobe Inc. | Reduce -0.5% | 2.72% | −0.38 |
| AKAM Akamai Technologies Inc. | Reduce -0.9% | 1.97% | −0.37 |
| HAIN Hain Celestial Group Inc. | Sold out | 0.00% | −0.31 |
| COO Cooper Cos Inc. | Sold out | 0.00% | −0.22 |
| PLNT Planet Fitness Inc. Class A | Reduce -7.3% | 2.30% | −0.21 |
| ISRG Intuitive Surgical Inc. | Reduce -1.1% | 3.64% | −0.21 |
| MWA Mueller Water Products Inc. Class A | Reduce -20.5% | 2.21% | −0.20 |
| TPICQ Tpi Composites Inc. | Sold out | 0.00% | −0.14 |
| PANW Palo Alto Networks Inc. | Reduce -0.8% | 3.13% | −0.14 |
| EW Edwards Lifesciences Corp. | Reduce -0.4% | 2.96% | −0.09 |
| RMD Resmed Inc. | Reduce -0.6% | 2.43% | −0.07 |
| KIDS Orthopediatrics Corp. | Reduce -3.2% | 0.18% | +0.01 |
| LRN Stride Inc. | Reduce -10.3% | 0.27% | +0.03 |
| PG The Procter & Gamble Co. | Reduce -0.8% | 3.52% | +0.03 |
| MA Mastercard Inc. Class A | Reduce -0.4% | 4.30% | +0.16 |
| DE Deere & Co. | Reduce -5.2% | 3.71% | +0.20 |
| NOMD Nomad Foods Ltd. | Reduce -1.7% | 1.56% | +0.24 |
| EBAY eBay Inc. | Reduce -0.1% | 3.63% | +0.33 |
| ELV Elevance Health Inc. | Reduce -1.3% | 3.50% | +0.52 |
Portfolio Buys Q4 2024 → Q1 2025
| TIGO Millicom Intl Cellular S.A. | New | 2.20% | +2.20 |
| COO The Cooper Cos Inc. | New | 1.25% | +1.25 |
| T AT&T Inc. | Add +0.2% | 2.68% | +0.55 |
| CSL Carlisle Cos Inc. | Add +36.8% | 1.99% | +0.45 |
| KLAC KLA Corp. | Add +0.4% | 4.13% | +0.34 |
| INGR Ingredion Inc. | Add +31.7% | 0.88% | +0.21 |
| ENPH Enphase Energy Inc. | Add +29.1% | 1.37% | +0.21 |
| XYL Xylem Inc. | Add +2.4% | 2.35% | +0.15 |
| WTS Watts Water Technologies-A | Add +8.4% | 1.51% | +0.14 |
| MSA Msa Safety Inc. | Add +19.6% | 1.48% | +0.12 |
| LIF LIFE360 Inc. | New | 0.10% | +0.10 |
| DUOL Duolingo | New | 0.09% | +0.09 |
| RVTY Revvity Inc. | Add +24.2% | 0.26% | +0.04 |
| ARE Alexandria Real Estate Equit | Add +2.7% | 1.39% | +0.03 |
| HOLX Hologic Inc. | Add +25.0% | 0.26% | +0.02 |
| BLKB Blackbaud Inc. | Add +21.4% | 0.22% | +0.01 |
| ZWS Zurn Elkay Water Solutions C | Add +4.9% | 0.22% | −0.01 |
| DAR Darling Ingredients Inc. | Add +3.8% | 2.29% | −0.03 |
| GEN Gen Digital Inc. | Add +0.9% | 3.04% | −0.03 |
| WMS Advanced Drainage Systems Inc. | Add +2.3% | 4.91% | −0.14 |
| TSM Taiwan Semiconductor-SP ADR | Add +7.3% | 3.41% | −0.33 |
| FSLR First Solar Inc. | Add +19.2% | 2.60% | −0.37 |
| NVDA Nvidia Corp. | Add +1.1% | 4.73% | −0.91 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 50 | $1.6B | KLAC, TSM, PANW, WMS, NVDA |
| Q1 2026 | 49 | $1.3B | TSM, WMS, KLAC, NVDA, DAR |
| Q4 2025 | 51 | $1.4B | WMS, NVDA, TSM, KLAC, FSLR |
| Q3 2025 | 50 | $1.4B | NVDA, WMS, KLAC, TSM, MA |
| Q2 2025 | 50 | $1.3B | NVDA, KLAC, WMS, TSM, MA |
| Q1 2025 | 50 | $1.2B | WMS, NVDA, MA, KLAC, DE |
| Q4 2024 | 49 | $1.2B | NVDA, WMS, MA, ISRG, KLAC |
| Q3 2024 | 49 | $1.3B | WMS, NVDA, ELV, ISRG, KLAC |
| Q2 2024 | 47 | $1.1B | WMS, NVDA, ELV, KLAC, ISRG |
| Q1 2024 | 47 | $1.1B | WMS, NVDA, ELV, ISRG, PG |