CIK: 0001535602
Total reported value
$14.2B
Reporting period: 2026-03-31 · Number of holdings: 388
BANQUE PICTET & CIE SA disclosed 388 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $14.2B and a quarterly turnover rate of 25.9%.
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Banque Pictet & Cie SA's disclosed holdings carry a Herfindahl concentration index of 0.166 — mathematically equivalent to about 6 equally-sized positions, well below its 388 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 7.83), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim TSLA
-4.9% -$1.5B
Trim GOOG
-26.1% -$243.5M
Trim AMZN
-18.6% -$311.4M
Add TTE
+73.4% $78.0M
Trim MA
-22.3% -$156.4M
Add MRNA
-12.2% $47.3M
Banque Pictet is aggressively rotating capital out of stretched mega-cap growth names while reinforcing its core technology anchor. The firm actively trimmed TSLA, AMZN, GOOG, and MA across the board, yet maintained a dominant 39.11% position in TSLA after price appreciation and modest share reduction. MSFT receives a targeted allocation boost, signaling a defensive tilt within a heavily discretionary-heavy book.
The portfolio bet rests on a persistent consumer discretionary and tech resilience premium, absorbing interest rate volatility through concentrated cash-flow engines. The contrarian posture (100% momentum-contrarian score) forces positioning against crowded retail-favored themes, while the 52% Consumer Discretionary overlay acts as a macro hedge against stagnation. The opposing thesis demands a sharp mean-reversion in mega-cap multiples or a liquidity drain that disproportionately penalizes the firm’s oversized TSLA exposure and illiquid mid-cap dispersion across its 375 names.
The strategy relies on continuous multiple expansion to sustain outsized weights through price drift, creating a structural vulnerability if institutional flow shifts into high-rate defensives or earnings compression triggers forced rehydration. With a position-sizing discipline score of merely 21.74 and extreme coefficient of variation (7.83), the portfolio lacks mechanical rebalancing firewalls—trailing P/E shocks will automatically inflate top positions beyond conviction thresholds without active share-trading intervention.
Produced with AI assistance from publicly disclosed 13F data. Historical only; not a personalized investment recommendation.
Showing top 200 holdings (of 388 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TSLA | Tesla INC | Stock-Consumer Disc | 39.11% | -2.28% | -4.86% | |
| 2 | AMZN | Amazon.com INC | Stock-Consumer Disc | 6.07% | -0.81% | -18.60% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 5.02% | +0.23% | +14.16% | |
| 4 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 3.57% | -0.83% | -26.10% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.27% | +0.15% | -4.80% | |
| 6 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 2.44% | -0.16% | -23.35% | |
| 7 | MA | Mastercard INC - A | Stock-Financials | 2.34% | -0.52% | -22.34% | |
| 8 | WM | Waste Management INC | Stock-Industrials | 2.10% | -0.12% | -24.55% | |
| 9 | TXN | Texas Instruments INC | Stock-Tech | 2.08% | +0.04% | -24.27% | |
| 10 | NVDA | Nvidia CORP | Stock-Tech | 1.86% | +0.25% | +3.10% | |
| 11 | ZTS | Zoetis INC | Stock-Healthcare | 1.52% | -0.23% | -23.49% | |
| 12 | MSCI | Msci INC | Stock-Financials | 1.48% | -0.28% | -25.41% | |
| 13 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.30% | -0.02% | -5.14% | |
| 14 | MRNA | Moderna INC | Stock-Healthcare | 0.98% | +0.44% | -12.20% | |
| 15 | AAPL | Apple INC | Stock-Tech | 0.98% | +0.06% | -5.14% | |
| 16 | TTE | Totalenergies Se | Stock-Other | 0.92% | +0.61% | +73.38% | |
| 17 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.88% | +0.21% | -2.09% | |
| 18 | AVGO | Broadcom INC | Stock-Tech | 0.87% | — | +15.23% | |
| 19 | V | Visa Inc-class A Shares | Stock-Financials | 0.78% | — | -3.77% | |
| 20 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.61% | — | +5.45% | |
| 21 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.60% | — | -0.80% | |
| 22 | ABBV | Abbvie INC | Stock-Healthcare | 0.57% | +0.05% | -4.23% | |
| 23 | WFC | Wells Fargo & Co | Stock-Financials | 0.52% | -0.09% | -16.18% | |
| 24 | PM | Philip Morris International | Stock-Consumer Staples | 0.52% | — | +1.72% | |
| 25 | UBS | UBS Group AG | Stock-Financials | 0.45% | +0.03% | +9.55% | |
| 26 | MDLN | Medline Inc-cl A | Stock-Other | 0.45% | +0.45% | NEW | |
| 27 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.43% | — | -7.89% | |
| 28 | LIN | Linde plc | Stock-Materials | 0.43% | +0.26% | +84.01% | |
| 29 | ETN | Eaton Corporation plc | Stock-Industrials | 0.43% | — | -3.98% | |
| 30 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.42% | -0.04% | -11.65% | |
| 31 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.41% | +0.26% | +240.07% | |
| 32 | ORLY | O'reilly Automotive INC | Stock-Consumer Disc | 0.39% | — | -2.21% | |
| 33 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.37% | -0.06% | -12.60% | |
| 34 | SYK | Stryker CORP | Stock-Healthcare | 0.36% | +0.01% | -9.46% | |
| 35 | PQUS | Pictet Ai Enhd US Eqty ETF | ETF-Other | 0.36% | +0.36% | NEW | |
| 36 | AMD | Advanced Micro Devices | Stock-Tech | 0.35% | +0.02% | -9.47% | |
| 37 | CRM | Salesforce INC | Stock-Tech | 0.34% | -0.18% | -23.15% | |
| 38 | MRSH | Marsh & Mclennan Cos | Stock-Financials | 0.33% | — | -5.04% | |
| 39 | MU | Micron Technology INC | Stock-Tech | 0.32% | +0.10% | +2.58% | |
| 40 | ALC | Alcon Inc. | Stock-Healthcare | 0.32% | — | -2.85% | |
| 41 | OC | Owens Corning | Stock-Industrials | 0.31% | — | -2.40% | |
| 42 | DE | Deere & Co | Stock-Industrials | 0.30% | +0.09% | -0.31% | |
| 43 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.29% | — | -12.77% | |
| 44 | NFLX | Netflix INC | Stock-Comm Services | 0.27% | — | +7.11% | |
| 45 | BAC | Bank Of America CORP | Stock-Financials | 0.27% | — | -3.45% | |
| 46 | AZN | AstraZeneca PLC | Stock-Healthcare | 0.27% | +0.27% | NEW | |
| 47 | UBER | Uber Technologies INC | Stock-Industrials | 0.25% | — | +1.33% | |
| 48 | TRGP | Targa Resources CORP | Stock-Energy | 0.23% | +0.10% | +4.47% | |
| 49 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.22% | — | -5.16% | |
| 50 | MCO | Moody's CORP | Stock-Financials | 0.22% | — | -3.83% |
Performance for Q3 2026
—
Performance Last 4 Quarters
+12.5%
Based on 46% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 388 | $14.2B | 26 | |
| 2025-12-31 | 411 | $17.1B | 13 | |
| 2025-09-30 | 405 | $17.2B | 46 | |
| 2025-06-30 | 361 | $14.4B | 0 | |
| 2025-03-31 | 394 | $12.4B | 100 | |
| 2024-12-31 | 324 | $15.0B | 0 | |
| 2024-09-30 | 301 | $13.2B | 0 | |
| 2024-06-30 | 296 | $11.0B | 0 | |
| 2024-03-31 | 347 | $10.6B | 0 | |
| 2023-12-31 | 349 | $12.1B | 0 | |
| 2023-09-30 | 440 | $8.5B | 0 | |
| 2023-06-30 | 487 | $11.4B | 0 | |
| 2023-03-31 | 570 | $10.3B | 0 | |
| 2022-12-31 | 612 | $9.6B | 0 | |
| 2022-09-30 | 619 | $9.2B | 0 | |
| 2022-06-30 | 639 | $10.1B | 0 | |
| 2022-03-31 | 637 | $12.9B | 0 | |
| 2021-12-31 | 633 | $13.5B | 0 | |
| 2021-09-30 | 345 | $9.6B | 0 | |
| 2021-06-30 | 353 | $9.0B | 100 | |
| 2021-03-31 | 341 | $7.8B | 14 | |
| 2020-12-31 | 321 | $7.4B | 14 | |
| 2020-09-30 | 308 | $6.6B | 14 | |
| 2020-06-30 | 323 | $6.0B | 24 | |
| 2020-03-31 | 329 | $4.9B | 24 | |
| 2019-12-31 | 356 | $5.8B | 22 | |
| 2019-09-30 | 348 | $5.3B | 15 | |
| 2019-06-30 | 332 | $5.4B | 15 | |
| 2019-03-31 | 327 | $5.2B | 32 | |
| 2018-12-31 | 332 | $4.9B | 29 | |
| 2018-09-30 | 358 | $5.4B | 13 | |
| 2018-06-30 | 353 | $5.1B | 25 | |
| 2018-03-31 | 364 | $4.7B | 19 | |
| 2017-12-31 | 349 | $5.0B | 24 | |
| 2017-09-30 | 381 | $4.4B | 15 | |
| 2017-06-30 | 385 | $4.2B | 22 | |
| 2017-03-31 | 356 | $4.0B | 25 | |
| 2016-12-31 | 321 | $3.9B | 24 | |
| 2016-09-30 | 316 | $3.9B | 19 | |
| 2016-06-30 | 325 | $3.7B | 28 | |
| 2016-03-31 | 324 | $3.8B | 23 | |
| 2015-12-31 | 318 | $3.7B | 23 | |
| 2015-09-30 | 360 | $3.4B | 100 | |
| 2015-06-30 | 317 | $1.3B | 100 | |
| 2015-03-31 | 462 | $3.8B | 22 | |
| 2014-12-31 | 469 | $3.8B | 37 | |
| 2014-09-30 | 464 | $3.9B | 22 | |
| 2014-06-30 | 461 | $4.0B | 26 | |
| 2014-03-31 | 424 | $3.7B | 23 | |
| 2013-12-31 | 340 | $3.4B | — |
Banque Pictet & Cie SA's most significant position changes for 2026-03-31: New buy: Medline Inc-cl A (MDLN); New buy: Pictet Ai Enhd US Eqty ETF (PQUS); New buy: AstraZeneca PLC (AZN); Sold out: Berkshire Hathaway Inc-cl A (BRK-A); Trim: Tesla INC (TSLA) — shares -4.86%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TTE | Totalenergies Se | +0.6% | +73.38% | Add |
| 2 | MRNA | Moderna INC | +0.4% | -12.20% | Trim |
| 3 | LIN | Linde plc | +0.3% | +84.01% | Add |
| 4 | BSX | Boston Scientific CORP | +0.3% | +240.07% | Add |
| 5 | NVDA | Nvidia CORP | +0.3% | +3.10% | Add |
| 6 | MSFT | Microsoft CORP | +0.2% | +14.16% | Add |
| 7 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | -2.09% | Trim |
| 8 | GOOGL | Alphabet Inc-cl A | +0.2% | -4.80% | Trim |
| 9 | SLB | Slb LTD | +0.1% | +69.79% | Add |
| 10 | TRGP | Targa Resources CORP | +0.1% | +4.47% | Add |
| 11 | MU | Micron Technology INC | +0.1% | +2.58% | Add |
| 12 | DE | Deere & Co | +0.1% | -0.31% | Trim |
| 13 | AAPL | Apple INC | +0.1% | -5.14% | Trim |
| 14 | ABBV | Abbvie INC | +0.1% | -4.23% | Trim |
| 15 | OIH | Vaneck Oil Services ETF | +0.1% | +388.34% | Add |
| 16 | TXN | Texas Instruments INC | 0% | -24.27% | Trim |
| 17 | UBS | UBS Group AG | 0% | +9.55% | Add |
| 18 | AMD | Advanced Micro Devices | 0% | -9.47% | Trim |
| 19 | SYK | Stryker CORP | 0% | -9.46% | Trim |
| 20 | V | Visa Inc-class A Shares | — | -3.77% | Trim |
| 21 | META | Meta Platforms Inc-class A | 0% | -5.14% | Trim |
| 22 | BKNG | Booking Holdings INC | 0% | -1.04% | Trim |
| 23 | CMG | Chipotle Mexican Grill INC | 0% | -25.23% | Trim |
| 24 | DHR | Danaher CORP | 0% | -11.81% | Trim |
| 25 | LLY | Eli Lilly & Co | 0% | -11.65% | Trim |
| 26 | IWM | Ishares Russell 2000 ETF | 0% | -68.19% | Trim |
| 27 | TMO | Thermo Fisher Scientific INC | -0.1% | -37.75% | Trim |
| 28 | VERX | Vertex INC - Class A | -0.1% | -32.33% | Trim |
| 29 | UNH | Unitedhealth Group INC | -0.1% | -12.60% | Trim |
| 30 | ADBE | Adobe INC | -0.1% | -9.88% | Trim |
| 31 | BX | Blackstone INC | -0.1% | -96.09% | Trim |
| 32 | PINS | Pinterest Inc- Class A | -0.1% | -94.58% | Trim |
| 33 | ROL | Rollins INC | -0.1% | -31.28% | Trim |
| 34 | FCX | Freeport-mcmoran INC | -0.1% | -59.84% | Trim |
| 35 | WFC | Wells Fargo & Co | -0.1% | -16.18% | Trim |
| 36 | WDAY | Workday Inc-class A | -0.1% | -23.31% | Trim |
| 37 | AIQ | Global X Art Intel & Tech | -0.1% | -49.65% | Trim |
| 38 | WM | Waste Management INC | -0.1% | -24.55% | Trim |
| 39 | MCD | Mcdonald's CORP | -0.2% | -23.35% | Trim |
| 40 | CRM | Salesforce INC | -0.2% | -23.15% | Trim |
| 41 | ZTS | Zoetis INC | -0.2% | -23.49% | Trim |
| 42 | MSCI | Msci INC | -0.3% | -25.41% | Trim |
| 43 | MA | Mastercard INC - A | -0.5% | -22.34% | Trim |
| 44 | AMZN | Amazon.com INC | -0.8% | -18.60% | Trim |
| 45 | GOOG | Alphabet Inc-cl C | -0.8% | -26.10% | Trim |
| 46 | TSLA | Tesla INC | -2.3% | -4.86% | Trim |
| 47 | MDLN | Medline Inc-cl A | — | NEW | New buy |
| 48 | PQUS | Pictet Ai Enhd US Eqty ETF | — | NEW | New buy |
| 49 | AZN | AstraZeneca PLC | — | NEW | New buy |
| 50 | BRK-A | Berkshire Hathaway Inc-cl A | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-16 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-21 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-16 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-30 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-30 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-21 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-25 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-06 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-09 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-27 | Amendment | View on EDGAR |
| 2023-09-30 | 2023-11-02 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-04 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-01 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-06 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-08 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-04 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-02 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-02 | Amendment | View on EDGAR |
| 2021-09-30 | 2021-11-12 | Amendment | View on EDGAR |
| 2021-09-30 | 2021-11-10 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-12 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-11 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-10 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-10 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-13 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-30 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-03 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-08 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-07 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-02 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-31 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-07 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-09 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-09 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-09 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-07 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-09 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-12 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-06 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-07 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-10 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-06 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-03 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-10 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-10 | Amendment | View on EDGAR |
| 2015-06-30 | 2015-08-07 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-08 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-12 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-07 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-06 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-09 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-12 | 13F-HR | View on EDGAR |
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