DNB Asset Management AS
Reported US equity positions for Q1 2026 — $28.0B across 1,235 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| MSFT Microsoft Corporation | $2.1B | 7.3% | 5,541,288 |
| NVDA NVIDIA Corporation | $1.8B | 6.4% | 10,232,504 |
| AMZN Amazon.com, Inc. | $1.6B | 5.5% | 7,450,247 |
| GOOGL Alphabet Inc. | $1.4B | 5.0% | 4,857,942 |
| AAPL Apple Inc. | $1.2B | 4.3% | 4,806,571 |
| META Meta Platforms, Inc. | $940.9M | 3.4% | 1,644,478 |
| AVGO Broadcom Inc. | $760.1M | 2.7% | 2,455,734 |
| V Visa Inc. | $603.3M | 2.2% | 1,995,999 |
| TEAM Atlassian Corporation | $551.3M | 2.0% | 8,077,726 |
| MA Mastercard Incorporated | $547.6M | 2.0% | 1,096,009 |
| ORCL Oracle Corporation | $414.6M | 1.5% | 2,818,172 |
| HPQ HP Inc. | $380.4M | 1.4% | 19,803,404 |
| LLY Eli Lilly and Company | $313.5M | 1.1% | 340,886 |
| TSLA Tesla, Inc. | $312.7M | 1.1% | 841,266 |
| GOOG Alphabet Inc. - Class C Capital Stock | $307.4M | 1.1% | 1,071,692 |
| TMUS T-Mobile US, Inc. | $293.2M | 1.0% | 1,396,143 |
| M22465104 Check Point Software Tech LT | $254.4M | 0.9% | 1,780,850 |
| BAC Bank of America Corporation | $237.7M | 0.8% | 4,876,644 |
| JPM JP Morgan Chase & Co. | $225.8M | 0.8% | 767,773 |
| C Citigroup, Inc. | $205.1M | 0.7% | 1,808,403 |
| NOW ServiceNow, Inc. | $201.7M | 0.7% | 1,929,358 |
| XOM ExxonMobil Holdings Corporation | $200.6M | 0.7% | 1,182,418 |
| GS The Goldman Sachs Group, Inc. | $200.2M | 0.7% | 236,641 |
| MRVL Marvell Technology, Inc. | $198.9M | 0.7% | 2,008,554 |
| JNJ Johnson & Johnson | $177.4M | 0.6% | 725,901 |
| H1467J104 Chubb Ltd | $174.7M | 0.6% | 535,992 |
| GE GE Aerospace | $167.7M | 0.6% | 591,094 |
| QCOM QUALCOMM Incorporated | $163.6M | 0.6% | 1,270,194 |
| BRK.B Berkshire Hathaway Inc. | $160.6M | 0.6% | 335,234 |
| BKNG Booking Holdings Inc. | $152.7M | 0.5% | 36,262 |
| SPGI S&P Global Inc. | $149.4M | 0.5% | 351,196 |
| WMT Walmart Inc. | $148.6M | 0.5% | 1,195,407 |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $145.2M | 0.5% | 536,703 |
| NEE NextEra Energy, Inc. | $139.0M | 0.5% | 1,496,597 |
| PEP PepsiCo, Inc. | $136.4M | 0.5% | 878,114 |
| ABBV AbbVie Inc. | $136.3M | 0.5% | 626,875 |
| HD The Home Depot, Inc. | $134.8M | 0.5% | 409,740 |
| NFLX Netflix, Inc. | $133.7M | 0.5% | 1,390,683 |
| AMD Advanced Micro Devices, Inc. | $130.8M | 0.5% | 642,896 |
| CSCO Cisco Systems, Inc. | $129.1M | 0.5% | 1,663,322 |
| WM Waste Management, Inc. | $124.8M | 0.4% | 543,153 |
| EMR Emerson Electric Company | $121.3M | 0.4% | 925,822 |
| MU Micron Technology, Inc. | $119.2M | 0.4% | 352,682 |
| CVX Chevron Corporation | $117.1M | 0.4% | 565,998 |
| ISRG Intuitive Surgical, Inc. | $116.2M | 0.4% | 252,167 |
| G25839104 Coca-Cola Europacific Partne | $108.6M | 0.4% | 1,428,396 |
| MRK Merck & Company, Inc. Common Stock (new) | $107.9M | 0.4% | 897,124 |
| COST Costco Wholesale Corporation | $107.3M | 0.4% | 107,670 |
| GEV GE Vernova Inc. | $106.3M | 0.4% | 121,787 |
| MTCH Match Group, Inc. | $105.7M | 0.4% | 3,440,583 |
| INTC Intel Corporation | $100.5M | 0.4% | 2,278,090 |
| PTON Peloton Interactive, Inc. | $97.3M | 0.3% | 22,685,343 |
| PG The Procter & Gamble Company | $97.2M | 0.3% | 673,288 |
| AMAT Applied Materials, Inc. | $85.4M | 0.3% | 249,765 |
| CRTOEUR Criteo Sa-Spon Adr | $83.1M | 0.3% | 4,630,958 |
| ECL Ecolab Inc. | $80.5M | 0.3% | 302,759 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $79.6M | 0.3% | 235,384 |
| IBM International Business Machines Corporation | $77.1M | 0.3% | 318,264 |
| CL Colgate-Palmolive Company | $76.2M | 0.3% | 893,822 |
| PBR Petroleo Brasileiro S.A. Petrobras ADS | $74.4M | 0.3% | 3,586,433 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| MSFT Microsoft Corporation | Add | $2.1B | $2.5B | +9% |
| NVDA NVIDIA Corporation | Add | $1.8B | $1.9B | +1% |
| AMZN Amazon.com, Inc. | Add | $1.6B | $1.5B | +13% |
| GOOGL Alphabet Inc. | Trim | $1.4B | $1.5B | -2% |
| AAPL Apple Inc. | Trim | $1.2B | $1.4B | -6% |
| META Meta Platforms, Inc. | Trim | $940.9M | $1.2B | -13% |
| AVGO Broadcom Inc. | Add | $760.1M | $574.0M | +48% |
| V Visa Inc. | Add | $603.3M | $670.0M | +4% |
| TEAM Atlassian Corporation | Add | $551.3M | $647.0M | +102% |
| MA Mastercard Incorporated | Trim | $547.6M | $719.9M | -13% |
| ORCL Oracle Corporation | Add | $414.6M | $259.2M | +112% |
| HPQ HP Inc. | Add | $380.4M | $236.0M | +87% |
| LLY Eli Lilly and Company | Add | $313.5M | $345.5M | +6% |
| TSLA Tesla, Inc. | Add | $312.7M | $372.7M | +2% |
| GOOG Alphabet Inc. - Class C Capital Stock | Add | $307.4M | $310.1M | +8% |
| TMUS T-Mobile US, Inc. | Add | $293.2M | $216.3M | +31% |
| M22465104 Check Point Software Tech LT | Trim | $254.4M | $337.8M | -2% |
| JPM JP Morgan Chase & Co. | Add | $225.8M | $237.6M | +4% |
| NOW ServiceNow, Inc. | Add | $201.7M | $102.4M | +189% |
| XOM ExxonMobil Holdings Corporation | Add | $200.6M | $129.4M | +10% |
| GS The Goldman Sachs Group, Inc. | Trim | $200.2M | $222.8M | -7% |
| MRVL Marvell Technology, Inc. | Add | $198.9M | $84.4M | +102% |
| JNJ Johnson & Johnson | Add | $177.4M | $135.3M | +11% |
| H1467J104 Chubb Ltd | Add | $174.7M | $162.2M | +3% |
| GE GE Aerospace | Add | $167.7M | $110.5M | +65% |
| QCOM QUALCOMM Incorporated | Add | $163.6M | $173.5M | +25% |
| BRK.B Berkshire Hathaway Inc. | Add | $160.6M | $153.7M | +10% |
| BKNG Booking Holdings Inc. | Trim | $152.7M | $231.8M | -16% |
| SPGI S&P Global Inc. | Add | $149.4M | $163.8M | +12% |
| WMT Walmart Inc. | Trim | $148.6M | $187.6M | -29% |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | Add | $145.2M | $144.6M | +23% |
| NEE NextEra Energy, Inc. | Add | $139.0M | $115.5M | +4% |
| PEP PepsiCo, Inc. | Add | $136.4M | $112.9M | +12% |
| ABBV AbbVie Inc. | Add | $136.3M | $131.4M | +9% |
| HD The Home Depot, Inc. | Add | $134.8M | $70.7M | +99% |
| NFLX Netflix, Inc. | Add | $133.7M | $126.2M | +3% |
| AMD Advanced Micro Devices, Inc. | Trim | $130.8M | $185.6M | -26% |
| CSCO Cisco Systems, Inc. | Add | $129.1M | $118.2M | +8% |
| WM Waste Management, Inc. | Add | $124.8M | $116.1M | +3% |
| EMR Emerson Electric Company | Add | $121.3M | $116.0M | +6% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.