Van Lanschot Kempen Investment Management N.V.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Van Lanschot Kempen Investment Management N.V. reported 228 stock positions worth $9.6 billion. Its top holding was Microsoft (MSFT) at 5.4% of the portfolio, followed by Alphabet Class A (GOOGL, 4.5%) and KKR (KKR, 4.0%). Compared with Q4 2024, it opened 23 new positions, sold out of 27, added to 97 and reduced 105. The biggest buy was a new position in Spotify Technology (SPOT) and the biggest sale Merck (MRK, shares −72%).
- Most Recent 13F
- Q2 2026
- Location
- AMSTERDAM, P7
- CIK
- 0001367401
- Portfolio Value
- $9.6B (Q1 2025)
- SEC Filing
- 0001367401-25-000008 ↗ filed May 14, 2025
Holdings Value
Holdings 228 stocks · $9.6B
| MSFT Microsoft Corp. | 5.38% | 1,373,381 | $515.6M | Reduce -1.6% |
| GOOGL Alphabet Inc. Class A | 4.50% | 2,784,011 | $430.5M | Reduce -1.6% |
| KKR KKR & Co. Inc. | 4.03% | 3,337,243 | $385.8M | Add +8.2% |
| BKNG Booking Holdings Inc. | 4.00% | 83,089 | $382.8M | Reduce -0.0% |
| META Meta Platforms Inc. Class A | 3.95% | 655,434 | $377.8M | Add +7.6% |
| NXPI NXP Semiconductors NV | 3.43% | 1,730,255 | $328.9M | Add +44.7% |
| AMZN Amazon.com Inc. | 3.29% | 1,655,657 | $315.0M | Add +2.1% |
| MKL Markel Group Inc. | 2.85% | 146,076 | $273.1M | Add +20.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.21% | 397,213 | $211.5M | Add +33.8% |
| C Citigroup Inc. | 2.15% | 2,905,124 | $206.2M | Add +18.1% |
| TSM Taiwan Semiconductor-SP ADR | 2.15% | 1,242,183 | $206.2M | Add +11.6% |
| MDT Medtronic PLC | 1.97% | 2,103,050 | $189.0M | Add +12.2% |
| V Visa Inc. Class A | 1.79% | 489,233 | $171.5M | Reduce -13.3% |
| SPOT Spotify Technology SA | 1.76% | 306,710 | $168.7M | New |
| TMO Thermo Fisher Scientific Inc. | 1.67% | 321,514 | $160.0M | Add +3.7% |
| CPAY Corpay Inc. | 1.66% | 454,604 | $158.5M | Add +32.4% |
| PTC PTC Inc. | 1.63% | 1,006,901 | $156.0M | Add +43.2% |
| CB Chubb Ltd. | 1.62% | 512,291 | $154.7M | Add +11.1% |
| JNJ Johnson & Johnson | 1.57% | 904,093 | $149.9M | Reduce -15.8% |
| AAPL Apple Inc. | 1.39% | 598,056 | $132.8M | Add +42.2% |
| NVDA Nvidia Corp. | 1.37% | 1,210,194 | $131.2M | Add +4.4% |
| LFUS Littelfuse Inc. | 1.27% | 618,215 | $121.6M | Add +39.9% |
| DHR Danaher Corp. | 1.20% | 558,202 | $114.4M | Add +0.8% |
| ADI Analog Devices Inc. | 1.13% | 536,843 | $108.3M | Add +93.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.08% | 130 | $103.8M | No change |
| KMX Carmax Inc. | 1.07% | 1,315,481 | $102.5M | Add +1.3% |
| AVTR Avantor Inc. | 0.93% | 5,506,019 | $89.3M | Add +17.2% |
| DGX Quest Diagnostics Inc. | 0.76% | 431,300 | $73.0M | Reduce -16.2% |
| DOC Healthpeak Properties Inc. | 0.74% | 3,494,724 | $70.7M | Reduce -23.1% |
| JPM JPMorgan Chase & Co. | 0.68% | 265,888 | $65.2M | Add +47.3% |
| PNFP Pinnacle Financial Partners | 0.68% | 613,837 | $65.1M | Reduce -10.1% |
| WTFC Wintrust Financial Corp. | 0.67% | 568,958 | $64.0M | Reduce -14.5% |
| JBL Jabil Inc. | 0.64% | 450,238 | $61.3M | Reduce -26.4% |
| WFG West Fraser Timber Co. Ltd. | 0.63% | 548,782 | $60.7M | Reduce -14.2% |
| RNR Renaissancere Holdings Ltd. | 0.62% | 245,977 | $59.0M | Add +12.3% |
| MA Mastercard Inc. Class A | 0.59% | 103,925 | $57.0M | Add +0.6% |
| HBAN Huntington Bancshares Inc. | 0.59% | 3,789,075 | $56.9M | Reduce -14.5% |
| BLK BlackRock Inc. | 0.59% | 59,440 | $56.3M | Add +0.0% |
| AVGO Broadcom Inc. | 0.58% | 330,167 | $55.3M | Add +41.0% |
| CSCO Cisco Systems Inc. | 0.57% | 880,649 | $54.3M | Add +0.6% |
| RY Royal Bank of Canada | 0.55% | 324,782 | $52.6M | Add +3.8% |
| AMH American Homes 4 Rent- A | 0.53% | 1,351,351 | $51.1M | Reduce -10.5% |
| DE Deere & Co. | 0.52% | 105,313 | $49.4M | Add +32.1% |
| INVH Invitation Homes Inc. | 0.51% | 1,400,045 | $48.8M | Reduce -7.0% |
| HSIC Henry Schein Inc. | 0.50% | 705,213 | $48.3M | Reduce -14.4% |
| NVST Envista Holdings Corp. | 0.49% | 2,722,331 | $47.0M | Reduce -12.7% |
| STRA Strategic Education Inc. | 0.48% | 543,973 | $45.7M | Reduce -12.0% |
| MRK Merck & Co. Inc. | 0.47% | 503,208 | $45.2M | Reduce -72.0% |
| MRSH Marsh & McLennan Cos | 0.47% | 183,603 | $44.8M | Reduce -15.6% |
| EHC Encompass Health Corp. | 0.46% | 432,345 | $43.8M | Reduce -21.6% |
| LLY Eli Lilly & Co. | 0.44% | 50,744 | $41.9M | Add +76.2% |
| SPGI S&P Global Inc. | 0.43% | 81,791 | $41.6M | Reduce -29.9% |
| THR Thermon Group Holdings Inc. | 0.42% | 1,442,470 | $40.2M | Reduce -15.8% |
| UNH Unitedhealth Group Inc. | 0.40% | 73,672 | $38.6M | Add +54.8% |
| NXST Nexstar Media Group Inc. | 0.40% | 214,742 | $38.5M | Add +4.2% |
| GILD Gilead Sciences Inc. | 0.38% | 327,290 | $36.7M | Reduce -0.4% |
| SYY Sysco Corp. | 0.38% | 485,142 | $36.4M | Add +8.5% |
| UNP Union Pacific Corp. | 0.38% | 151,987 | $35.9M | Reduce -17.9% |
| CRM Salesforce Inc. | 0.37% | 132,340 | $35.5M | Reduce -32.5% |
| CNH CNH Industrial NV | 0.37% | 2,872,886 | $35.3M | Reduce -0.7% |
| GNTX Gentex Corp. | 0.36% | 1,497,747 | $34.9M | Reduce -36.8% |
| TXN Texas Instruments Inc. | 0.36% | 193,706 | $34.8M | Add +30.2% |
| MWA Mueller Water Products Inc. Class A | 0.36% | 1,368,723 | $34.8M | Reduce -38.1% |
| LYB Lyondellbasell Indu Class A | 0.36% | 491,107 | $34.6M | Add +3.1% |
| BC Brunswick Corp. | 0.36% | 641,242 | $34.5M | Reduce -35.2% |
| VSH Vishay Intertechnology Inc. | 0.36% | 2,168,161 | $34.5M | Reduce -12.0% |
| TRIP Tripadvisor Inc. | 0.35% | 2,370,116 | $33.6M | Reduce -8.4% |
| NTR Nutrien Ltd. | 0.34% | 450,220 | $32.2M | Add +1.6% |
| NEE Nextera Energy Inc. | 0.33% | 447,926 | $31.8M | Add +41.7% |
| FIS Fidelity National Info Serv | 0.33% | 422,949 | $31.6M | New |
| PG The Procter & Gamble Co. | 0.33% | 185,209 | $31.6M | Reduce -22.9% |
| GMS GMS Inc. | 0.33% | 429,448 | $31.4M | Reduce -28.0% |
| PEP Pepsico Inc. | 0.33% | 209,439 | $31.4M | Add +3.2% |
| WMB Williams Cos Inc. | 0.31% | 501,198 | $30.0M | Add +10.2% |
| QDEL Quidelortho Corp. | 0.30% | 820,203 | $28.7M | Reduce -15.3% |
| PRU Prudential Financial Inc. | 0.30% | 255,293 | $28.5M | Add +5.6% |
| LITE Lumentum Holdings Inc. | 0.30% | 453,931 | $28.3M | Reduce -26.7% |
| ALV Autoliv Inc. | 0.29% | 317,553 | $28.1M | Add +3.5% |
| PEG Public Service Enterprise GP | 0.28% | 322,847 | $26.6M | Add +6.0% |
| CME Cme Group Inc. | 0.27% | 98,304 | $26.1M | Add +0.1% |
| LNG Cheniere Energy Inc. | 0.26% | 108,098 | $25.0M | Reduce -10.6% |
| MSM MSC Industrial Direct Co. Class A | 0.26% | 315,698 | $24.5M | Add +15.8% |
| CVX Chevron Corp. | 0.25% | 145,094 | $24.3M | Add +19.7% |
| HD Home Depot Inc. | 0.25% | 66,200 | $24.3M | Reduce -37.9% |
| EQIX Equinix Inc. | 0.25% | 29,392 | $24.0M | Reduce -36.0% |
| ACN Accenture PLC Class A | 0.25% | 76,666 | $23.9M | Reduce -28.8% |
| ORCL Oracle Corp. | 0.25% | 168,981 | $23.6M | Add +37.5% |
| NE Noble Corp. PLC | 0.25% | 991,675 | $23.5M | Add +23.1% |
| LIN Linde PLC | 0.24% | 48,831 | $22.7M | Add +1.2% |
| ZTS Zoetis Inc. | 0.24% | 137,539 | $22.6M | Reduce -19.1% |
| AKAM Akamai Technologies Inc. | 0.23% | 272,405 | $21.9M | New |
| CDNS Cadence Design SYS Inc. | 0.21% | 80,605 | $20.5M | New |
| VTR Ventas Inc. | 0.21% | 297,910 | $20.5M | New |
| FSLR First Solar Inc. | 0.21% | 161,247 | $20.4M | Reduce -27.4% |
| FERG Ferguson Enterprises Inc. | 0.21% | 126,948 | $20.3M | Add +0.3% |
| TROX Tronox Holdings PLC | 0.21% | 2,868,837 | $20.2M | Add +2.5% |
| EXR Extra Space Storage Inc. | 0.21% | 135,753 | $20.2M | Reduce -12.1% |
| PH Parker Hannifin Corp. | 0.21% | 32,631 | $19.8M | Add +2.7% |
| MHK Mohawk Industries Inc. | 0.21% | 172,528 | $19.7M | Reduce -11.5% |
| O Realty Income Corp. | 0.20% | 330,364 | $19.2M | Add +922.5% |
Portfolio Sells Q4 2024 → Q1 2025
| MRK Merck & Co. Inc. | Reduce -72.0% | 0.47% | −1.30 |
| Spotify Technology S.A. | Sold out | 0.00% | −1.24 |
| GOOGL Alphabet Inc. Class A | Reduce -1.6% | 4.50% | −0.83 |
| MSFT Microsoft Corp. | Reduce -1.6% | 5.38% | −0.47 |
| TDC Teradata Corp. | Sold out | 0.00% | −0.36 |
| GNTX Gentex Corp. | Reduce -36.8% | 0.36% | −0.31 |
| CAH Cardinal Health Inc. | Sold out | 0.00% | −0.30 |
| CRM Salesforce Inc. | Reduce -32.5% | 0.37% | −0.28 |
| BC Brunswick Corp. | Reduce -35.2% | 0.36% | −0.28 |
| JBL Jabil Inc. | Reduce -26.4% | 0.64% | −0.23 |
| TSLA Tesla Inc. | Reduce -32.4% | 0.19% | −0.22 |
| LITE Lumentum Holdings Inc. | Reduce -26.7% | 0.30% | −0.22 |
| USB US Bancorp | Sold out | 0.00% | −0.21 |
| AMAT Applied Materials Inc. | Reduce -48.2% | 0.19% | −0.20 |
| EQIX Equinix Inc. | Reduce -36.0% | 0.25% | −0.18 |
| DOC Healthpeak Properties Inc. | Reduce -23.1% | 0.74% | −0.18 |
| FSLR First Solar Inc. | Reduce -27.4% | 0.21% | −0.18 |
| GMS GMS Inc. | Reduce -28.0% | 0.33% | −0.17 |
| NOW ServiceNow Inc. | Reduce -60.1% | 0.08% | −0.17 |
| HD Home Depot Inc. | Reduce -37.9% | 0.25% | −0.16 |
| WFG West Fraser Timber Co. Ltd. | Reduce -14.2% | 0.63% | −0.16 |
| KO The Coca-Cola Co. | Reduce -55.3% | 0.19% | −0.16 |
| WTFC Wintrust Financial Corp. | Reduce -14.5% | 0.67% | −0.16 |
| ITW Illinois Tool Works | Sold out | 0.00% | −0.16 |
| CBRE CBRE Group Inc. Class A | Reduce -56.7% | 0.12% | −0.14 |
| SPGI S&P Global Inc. | Reduce -29.9% | 0.43% | −0.14 |
| MWA Mueller Water Products Inc. Class A | Reduce -38.1% | 0.36% | −0.13 |
| QDEL Quidelortho Corp. | Reduce -15.3% | 0.30% | −0.13 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −0.13 |
| ACN Accenture PLC Class A | Reduce -28.8% | 0.25% | −0.13 |
| EL Estee Lauder Companies Class A | Sold out | 0.00% | −0.13 |
| SNBRQ Sleep Number Corp. | Reduce -60.0% | 0.03% | −0.12 |
| HBAN Huntington Bancshares Inc. | Reduce -14.5% | 0.59% | −0.12 |
| ADBE Adobe Inc. | Reduce -45.3% | 0.12% | −0.12 |
| VICI Vici Properties Inc. | Reduce -58.0% | 0.11% | −0.12 |
| COLD Americold Realty Trust Inc. | Reduce -80.6% | 0.03% | −0.11 |
| BKNG Booking Holdings Inc. | Reduce -0.0% | 4.00% | −0.11 |
| NVST Envista Holdings Corp. | Reduce -12.7% | 0.49% | −0.11 |
| MKC McCormick & Co.-Non VTG SHRS | Sold out | 0.00% | −0.11 |
| STRA Strategic Education Inc. | Reduce -12.0% | 0.48% | −0.10 |
| PNFP Pinnacle Financial Partners | Reduce -10.1% | 0.68% | −0.10 |
| KVUE Kenvue Inc. | Reduce -42.4% | 0.20% | −0.09 |
| NKE Nike Inc. Class B | Reduce -22.7% | 0.19% | −0.09 |
| REG Regency Centers Corp. | Reduce -98.8% | 0.00% | −0.08 |
| IEX Idex Corp. | Reduce -44.4% | 0.08% | −0.08 |
| LXFR Luxfer Holdings PLC | Reduce -27.7% | 0.17% | −0.08 |
| EXC Exelon Corp. | Sold out | 0.00% | −0.07 |
| SUI Sun Communities Inc. | Reduce -44.0% | 0.12% | −0.07 |
| DIS The Walt Disney Co. | Reduce -42.1% | 0.08% | −0.07 |
| PG The Procter & Gamble Co. | Reduce -22.9% | 0.33% | −0.07 |
Portfolio Buys Q4 2024 → Q1 2025
| SPOT Spotify Technology SA | New | 1.76% | +1.76 |
| NXPI NXP Semiconductors NV | Add +44.7% | 3.43% | +0.96 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +33.8% | 2.21% | +0.87 |
| MKL Markel Group Inc. | Add +20.1% | 2.85% | +0.76 |
| ADI Analog Devices Inc. | Add +93.0% | 1.13% | +0.54 |
| CPAY Corpay Inc. | Add +32.4% | 1.66% | +0.50 |
| MDT Medtronic PLC | Add +12.2% | 1.97% | +0.48 |
| C Citigroup Inc. | Add +18.1% | 2.15% | +0.43 |
| META Meta Platforms Inc. Class A | Add +7.6% | 3.95% | +0.40 |
| CB Chubb Ltd. | Add +11.1% | 1.62% | +0.35 |
| PTC PTC Inc. | Add +43.2% | 1.63% | +0.34 |
| AAPL Apple Inc. | Add +42.2% | 1.39% | +0.34 |
| FIS Fidelity National Info Serv | New | 0.33% | +0.33 |
| JPM JPMorgan Chase & Co. | Add +47.3% | 0.68% | +0.25 |
| LFUS Littelfuse Inc. | Add +39.9% | 1.27% | +0.23 |
| AKAM Akamai Technologies Inc. | New | 0.23% | +0.23 |
| LLY Eli Lilly & Co. | Add +76.2% | 0.44% | +0.22 |
| CDNS Cadence Design SYS Inc. | New | 0.21% | +0.21 |
| VTR Ventas Inc. | New | 0.21% | +0.21 |
| O Realty Income Corp. | Add +922.5% | 0.20% | +0.18 |
| DE Deere & Co. | Add +32.1% | 0.52% | +0.18 |
| UNH Unitedhealth Group Inc. | Add +54.8% | 0.40% | +0.16 |
| YUMC Yum China Holdings Inc. | New | 0.14% | +0.14 |
| TNC Tennant Co. | New | 0.14% | +0.14 |
| NFLX Netflix Inc. | New | 0.13% | +0.13 |
| BNL Broadstone Net Lease Inc. | New | 0.12% | +0.12 |
| NEE Nextera Energy Inc. | Add +41.7% | 0.33% | +0.11 |
| APH Amphenol Corp. Class A | New | 0.11% | +0.11 |
| FHN First Horizon Corp. | New | 0.10% | +0.10 |
| TXN Texas Instruments Inc. | Add +30.2% | 0.36% | +0.09 |
| DLR Digital Realty Trust Inc. | Add +242.9% | 0.13% | +0.09 |
| PCG P G & E Corp. | New | 0.09% | +0.09 |
| SBUX Starbucks Corp. | New | 0.08% | +0.08 |
| CVX Chevron Corp. | Add +19.7% | 0.25% | +0.08 |
| FE Firstenergy Corp. | New | 0.08% | +0.08 |
| NXST Nexstar Media Group Inc. | Add +4.2% | 0.40% | +0.08 |
| ES Eversource Energy | New | 0.08% | +0.08 |
| WELL Welltower Inc. | Add +32.2% | 0.19% | +0.08 |
| AVB Avalonbay Communities Inc. | Add +75.5% | 0.17% | +0.08 |
| RNR Renaissancere Holdings Ltd. | Add +12.3% | 0.62% | +0.07 |
| ETR Entergy Corp. | New | 0.07% | +0.07 |
| WMB Williams Cos Inc. | Add +10.2% | 0.31% | +0.07 |
| TMO Thermo Fisher Scientific Inc. | Add +3.7% | 1.67% | +0.07 |
| BKR Baker Hughes Co. | New | 0.06% | +0.06 |
| IRM Iron Mountain Inc. | New | 0.06% | +0.06 |
| VST Vistra Corp. | New | 0.06% | +0.06 |
| CEG Constellation Energy | New | 0.06% | +0.06 |
| MA Mastercard Inc. Class A | Add +0.6% | 0.59% | +0.05 |
| MSM MSC Industrial Direct Co. Class A | Add +15.8% | 0.26% | +0.05 |
| CSCO Cisco Systems Inc. | Add +0.6% | 0.57% | +0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 241 | $13.1B | NXPI, GOOGL, MSFT, BKNG, TSM |
| Q1 2026 | 240 | $11.4B | MSFT, GOOGL, BKNG, NXPI, MKL |
| Q4 2025 | 250 | $11.7B | GOOGL, MSFT, KKR, BKNG, META |
| Q3 2025 | 244 | $11.2B | MSFT, GOOGL, META, KKR, BKNG |
| Q2 2025 | 239 | $10.5B | MSFT, META, KKR, GOOGL, BKNG |
| Q1 2025 | 228 | $9.6B | MSFT, GOOGL, KKR, BKNG, META |
| Q4 2024 | 232 | $10.1B | MSFT, GOOGL, KKR, BKNG, META |
| Q3 2024 | 215 | $9.8B | MSFT, GOOGL, KKR, BKNG, META |
| Q2 2024 | 216 | $8.9B | MSFT, GOOGL, KKR, BKNG, AMZN |
| Q1 2024 | 215 | $8.0B | MSFT, GOOGL, KKR, META, MRK |