Triodos Investment Management BV
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), Triodos Investment Management BV reported 51 stock positions worth $1.4 billion. Its top holding was Advanced Drainage Systems (WMS) at 5.7% of the portfolio, followed by Nvidia (NVDA, 5.4%) and Taiwan Semiconductor-SP ADR (TSM, 5.2%). Compared with Q3 2025, it opened 3 new positions, sold out of 2, added to 9 and reduced 21. The biggest buy was a new position in Eli Lilly (LLY) and the biggest sale an exit from Nomad Foods (NOMD).
- Most Recent 13F
- Q2 2026
- Location
- DRIEBERGEN-RIJSENBURG, P7
- CIK
- 0001748729
- Portfolio Value
- $1.4B (Q4 2025)
- SEC Filing
- 0001748729-26-000007 ↗ filed Feb 10, 2026
Holdings Value
Holdings 51 stocks · $1.4B
| WMS Advanced Drainage Systems Inc. | 5.71% | 538,011 | $79.1M | Reduce -1.5% |
| NVDA Nvidia Corp. | 5.39% | 397,970 | $74.6M | Reduce -10.9% |
| TSM Taiwan Semiconductor-SP ADR | 5.23% | 241,453 | $72.3M | Reduce -4.1% |
| KLAC KLA Corp. | 5.18% | 57,651 | $71.7M | Reduce -13.2% |
| FSLR First Solar Inc. | 4.76% | 249,400 | $65.9M | Reduce -3.8% |
| MA Mastercard Inc. Class A | 4.27% | 102,364 | $59.1M | Add +0.1% |
| EBAY eBay Inc. | 3.43% | 544,198 | $47.4M | Reduce -11.9% |
| ISRG Intuitive Surgical Inc. | 3.35% | 80,887 | $46.3M | Reduce -10.3% |
| EW Edwards Lifesciences Corp. | 3.15% | 504,858 | $43.5M | Reduce -0.8% |
| PANW Palo Alto Networks Inc. | 2.97% | 219,600 | $41.0M | Reduce -0.8% |
| GEN Gen Digital Inc. | 2.83% | 1,425,038 | $39.1M | Add +0.0% |
| PG The Procter & Gamble Co. | 2.66% | 255,095 | $36.7M | No change |
| DE Deere & Co. | 2.58% | 75,850 | $35.6M | Reduce -0.7% |
| DAR Darling Ingredients Inc. | 2.46% | 932,914 | $34.1M | No change |
| TIGO Millicom Intl Cellular S.A. | 2.42% | 607,000 | $33.4M | Reduce -14.4% |
| XYL Xylem Inc. | 2.39% | 240,500 | $33.1M | No change |
| ADBE Adobe Inc. | 2.18% | 85,537 | $30.2M | Reduce -0.6% |
| PLNT Planet Fitness Inc. Class A | 2.18% | 276,000 | $30.1M | Reduce -7.1% |
| CSL Carlisle Cos Inc. | 2.13% | 90,750 | $29.4M | No change |
| RMD Resmed Inc. | 2.12% | 120,600 | $29.3M | No change |
| ELV Elevance Health Inc. | 2.05% | 81,380 | $28.4M | Reduce -11.6% |
| AYI Acuity Inc. | 1.93% | 73,000 | $26.6M | Reduce -3.3% |
| MWA Mueller Water Products Inc. Class A | 1.91% | 1,090,000 | $26.5M | Add +0.5% |
| AKAM Akamai Technologies Inc. | 1.89% | 297,924 | $26.2M | Reduce -0.7% |
| T AT&T Inc. | 1.89% | 1,051,265 | $26.1M | No change |
| LLY Eli Lilly & Co. | 1.75% | 22,480 | $24.3M | New |
| WTS Watts Water Technologies-A | 1.74% | 86,000 | $24.1M | No change |
| ALLE Allegion PLC | 1.69% | 145,000 | $23.4M | No change |
| OLED Universal Display Corp. | 1.59% | 185,000 | $22.0M | No change |
| COO The Cooper Cos Inc. | 1.48% | 248,250 | $20.5M | Reduce -0.6% |
| MSA Msa Safety Inc. | 1.43% | 122,000 | $19.8M | No change |
| GNTX Gentex Corp. | 1.36% | 801,000 | $18.9M | No change |
| VLTO Veralto Corp. | 1.36% | 186,000 | $18.9M | New |
| CWT California Water Service Grp | 1.30% | 414,000 | $18.0M | Reduce -16.0% |
| STRA Strategic Education Inc. | 1.29% | 220,000 | $17.8M | No change |
| OC Owens Corning | 1.28% | 156,000 | $17.7M | No change |
| HASI Ha Sustainable Infrastructur | 1.27% | 550,000 | $17.6M | No change |
| ZBRA Zebra Technologies Corp. Class A | 0.96% | 54,000 | $13.3M | Add +25.6% |
| BMI Badger Meter Inc. | 0.84% | 65,000 | $11.6M | No change |
| ARE Alexandria Real Estate Equit | 0.81% | 225,800 | $11.2M | Reduce -0.9% |
| INGR Ingredion Inc. | 0.63% | 79,000 | $8.8M | No change |
| HOLX Hologic Inc. | 0.34% | 62,750 | $4.7M | No change |
| ZWS Zurn Elkay Water Solutions C | 0.28% | 83,000 | $3.9M | Reduce -2.4% |
| BLKB Blackbaud Inc. | 0.27% | 59,000 | $3.7M | Add +9.3% |
| RVTY Revvity Inc. | 0.26% | 36,500 | $3.6M | Reduce -2.7% |
| BFAM Bright Horizons Family Solut | 0.23% | 31,000 | $3.2M | Add +8.8% |
| KMB Kimberly-Clark Corp. | 0.19% | 26,000 | $2.6M | New |
| KIDS Orthopediatrics Corp. | 0.19% | 147,000 | $2.6M | Add +10.9% |
| LIF LIFE360 Inc. | 0.15% | 31,500 | $2.1M | Add +12.5% |
| DUOL Duolingo | 0.14% | 11,000 | $1.9M | Add +63.0% |
| LRN Stride Inc. | 0.10% | 21,000 | $1.4M | No change |
Portfolio Sells Q3 2025 → Q4 2025
| NOMD Nomad Foods Ltd. | Sold out | 0.00% | −0.91 |
| EBAY eBay Inc. | Reduce -11.9% | 3.43% | −0.64 |
| NVDA Nvidia Corp. | Reduce -10.9% | 5.39% | −0.63 |
| ARE Alexandria Real Estate Equit | Reduce -0.9% | 0.81% | −0.57 |
| CWT California Water Service Grp | Reduce -16.0% | 1.30% | −0.33 |
| PANW Palo Alto Networks Inc. | Reduce -0.8% | 2.97% | −0.29 |
| ELV Elevance Health Inc. | Reduce -11.6% | 2.05% | −0.10 |
| TIGO Millicom Intl Cellular S.A. | Reduce -14.4% | 2.42% | −0.07 |
| PLNT Planet Fitness Inc. Class A | Reduce -7.1% | 2.18% | −0.05 |
| SW Smurfit Westrock PLC | Sold out | 0.00% | −0.02 |
| ADBE Adobe Inc. | Reduce -0.6% | 2.18% | −0.01 |
| ZWS Zurn Elkay Water Solutions C | Reduce -2.4% | 0.28% | −0.01 |
| KLAC KLA Corp. | Reduce -13.2% | 5.18% | +0.01 |
| RVTY Revvity Inc. | Reduce -2.7% | 0.26% | +0.02 |
| AYI Acuity Inc. | Reduce -3.3% | 1.93% | +0.05 |
| DE Deere & Co. | Reduce -0.7% | 2.58% | +0.05 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -4.1% | 5.23% | +0.14 |
| WMS Advanced Drainage Systems Inc. | Reduce -1.5% | 5.71% | +0.24 |
| COO The Cooper Cos Inc. | Reduce -0.6% | 1.48% | +0.24 |
| AKAM Akamai Technologies Inc. | Reduce -0.7% | 1.89% | +0.25 |
| EW Edwards Lifesciences Corp. | Reduce -0.8% | 3.15% | +0.28 |
| ISRG Intuitive Surgical Inc. | Reduce -10.3% | 3.35% | +0.43 |
| FSLR First Solar Inc. | Reduce -3.8% | 4.76% | +0.63 |
Portfolio Buys Q3 2025 → Q4 2025
| LLY Eli Lilly & Co. | New | 1.75% | +1.75 |
| VLTO Veralto Corp. | New | 1.36% | +1.36 |
| KMB Kimberly-Clark Corp. | New | 0.19% | +0.19 |
| MA Mastercard Inc. Class A | Add +0.1% | 4.27% | +0.07 |
| ZBRA Zebra Technologies Corp. Class A | Add +25.6% | 0.96% | +0.04 |
| BLKB Blackbaud Inc. | Add +9.3% | 0.27% | +0.02 |
| KIDS Orthopediatrics Corp. | Add +10.9% | 0.19% | +0.01 |
| BFAM Bright Horizons Family Solut | Add +8.8% | 0.23% | +0.01 |
| DUOL Duolingo | Add +63.0% | 0.14% | −0.02 |
| LIF LIFE360 Inc. | Add +12.5% | 0.15% | −0.06 |
| MWA Mueller Water Products Inc. Class A | Add +0.5% | 1.91% | −0.09 |
| GEN Gen Digital Inc. | Add +0.0% | 2.83% | −0.10 |
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 |