CIK: 0001520354
Total reported value
$86.1B
Reporting period: 2026-03-31 · Number of holdings: 4052
BNP PARIBAS ASSET MANAGEMENT Holding S.A. disclosed 4052 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $86.1B and a quarterly turnover rate of 32.6%.
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BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s disclosed holdings carry a Herfindahl concentration index of 0.012 — mathematically equivalent to about 85 equally-sized positions, well below its 4052 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 5.07), 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 MSFT
-2.9% -$1.2B
Add TTE
+548.5% $822.6M
Trim AAPL
-6.3% -$544.1M
Trim AMZN
-7.8% -$495.5M
Trim TSLA
-16.5% -$421.0M
Trim META
-11.5% -$410.9M
BNP Paribas AM is rotating capital out of mega-cap Tech (MSFT, AAPL, AMZN, TSLA, META trimmed) into Healthcare (AZN new buy at 1.72% weight) and Gold (AU added). This is a defensive fortification move—cutting exposure to crowded growth narratives and positioning for a risk-off regime. The 2258-holding, low-concentration structure (diversification score 100) confirms the active bet lies in sector rotation, not stock-specific alpha.
The flows price in a late-cycle regime shift: discount-rate volatility and multiple compression for long-duration tech, while pharmaceutical cash flows (AZN) and gold (AU) gain relative appeal as hedges. The macro cycle bet is that liquidity-driven gains in mega-cap growth are exhausting. The opposing thesis is a soft landing that sustains the tech-driven momentum, making this defensive rotation premature.
The extreme diversification (2258 holdings), concentration score of 4.72, and position-sizing discipline of 49.3 indicate that the portfolio's active risk is spread across thousands of economically insignificant positions. The structural vulnerability is that this is a beta replication machine—active share near zero—making the fund a closet indexer vulnerable to factor crowding and fee slippage. The added security with weight surge from 0.1% to 1.05% (ticker null) may represent an index ETF layer that deepens this passive tilt.
The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.
Showing top 200 holdings (of 4052 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 5.85% | -0.32% | +0.14% | |
| 2 | AAPL | Apple INC | Stock-Tech | 4.39% | -0.57% | -6.32% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.04% | -1.33% | -2.88% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.85% | -0.53% | -7.80% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.67% | — | +3.94% | |
| 6 | AVGO | Broadcom INC | Stock-Tech | 1.95% | — | +15.25% | |
| 7 | AZN | AstraZeneca PLC | Stock-Healthcare | 1.72% | +1.72% | NEW | |
| 8 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.57% | -0.45% | -11.49% | |
| 9 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.36% | -0.24% | -7.79% | |
| 10 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.24% | — | +23.49% | |
| 11 | TSLA | Tesla INC | Stock-Consumer Disc | 1.09% | -0.47% | -16.49% | |
| 12 | TTE | Totalenergies Se | Stock-Other | 1.05% | +0.95% | +548.50% | |
| 13 | AMD | Advanced Micro Devices | Stock-Tech | 0.99% | — | -2.77% | |
| 14 | LRCX | Lam Research CORP | Stock-Tech | 0.85% | +0.21% | +6.35% | |
| 15 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.82% | +0.20% | +12.39% | |
| 16 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.79% | — | +7.37% | |
| 17 | V | Visa Inc-class A Shares | Stock-Financials | 0.76% | -0.28% | -16.06% | |
| 18 | ISRG | Intuitive Surgical INC | Stock-Healthcare | 0.73% | -0.36% | -18.83% | |
| 19 | GILD | Gilead Sciences INC | Stock-Healthcare | 0.72% | +0.20% | +20.46% | |
| 20 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.65% | — | -12.87% | |
| 21 | AMAT | Applied Materials INC | Stock-Tech | 0.64% | +0.26% | +23.18% | |
| 22 | PANW | Palo Alto Networks INC | Stock-Tech | 0.61% | — | +16.87% | |
| 23 | MA | Mastercard INC - A | Stock-Financials | 0.60% | — | -4.83% | |
| 24 | NOW | Servicenow INC | Stock-Tech | 0.53% | -0.19% | +6.61% | |
| 25 | NFLX | Netflix INC | Stock-Comm Services | 0.52% | — | -21.75% | |
| 26 | MU | Micron Technology INC | Stock-Tech | 0.51% | +0.14% | +14.63% | |
| 27 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.51% | -0.33% | -9.80% | |
| 28 | HD | Home Depot INC | Stock-Consumer Disc | 0.48% | — | +38.84% | |
| 29 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.47% | — | -5.85% | |
| 30 | LIN | Linde plc | Stock-Materials | 0.47% | +0.25% | +81.20% | |
| 31 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.47% | — | -31.14% | |
| 32 | BAC | Bank Of America CORP | Stock-Financials | 0.46% | +0.15% | +67.37% | |
| 33 | CIEN | Ciena CORP | Stock-Tech | 0.46% | — | -48.23% | |
| 34 | DB | Deutsche Bank Aktiengesellschaft | Stock-Financials | 0.45% | +0.29% | +225.90% | |
| 35 | ANET | Arista Networks INC | Stock-Tech | 0.45% | — | +5.49% | |
| 36 | VRTX | Vertex Pharmaceuticals INC | Stock-Healthcare | 0.44% | — | +26.61% | |
| 37 | AXP | American Express Co | Stock-Financials | 0.44% | — | +15.97% | |
| 38 | WMT | Walmart INC | Stock-Consumer Staples | 0.43% | — | -3.96% | |
| 39 | NEM | Newmont CORP | Stock-Materials | 0.42% | — | +10.84% | |
| 40 | TT | Trane Technologies plc | Stock-Industrials | 0.41% | +0.17% | +60.80% | |
| 41 | GE | General Electric | Stock-Industrials | 0.41% | +0.20% | +106.65% | |
| 42 | RACE | Ferrari N.V. | Stock-Consumer Disc | 0.40% | +0.26% | +157.20% | |
| 43 | GEV | GE Vernova INC | Stock-Industrials | 0.39% | +0.19% | +41.73% | |
| 44 | FSLR | First Solar INC | Stock-Tech | 0.39% | -0.17% | -9.27% | |
| 45 | INTC | Intel CORP | Stock-Tech | 0.38% | +0.14% | +29.88% | |
| 46 | ABBV | Abbvie INC | Stock-Healthcare | 0.38% | — | -14.07% | |
| 47 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.37% | — | -9.91% | |
| 48 | CSCO | Cisco Systems INC | Stock-Tech | 0.37% | — | -15.57% | |
| 49 | XOM | Exxon Mobil CORP | Stock-Energy | 0.35% | — | -11.44% | |
| 50 | ADP | Automatic Data Processing | Stock-Tech | 0.34% | — | +29.36% |
Performance for Q3 2026
+3.2%
Performance Last 4 Quarters
+22.5%
Based on 76% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 4052 | $86.1B | 33 | |
| 2025-12-31 | 4075 | $87.2B | 81 | |
| 2025-09-30 | 2206 | $38.6B | 45 | |
| 2025-06-30 | 2446 | $41.0B | 0 | |
| 2025-03-31 | 1134 | $37.3B | 100 | |
| 2024-12-31 | 1228 | $40.3B | 0 | |
| 2024-09-30 | 1223 | $40.4B | 0 | |
| 2024-06-30 | 1295 | $38.7B | 0 | |
| 2024-03-31 | 1216 | $37.6B | 0 | |
| 2023-12-31 | 1163 | $35.9B | 0 | |
| 2023-09-30 | 1167 | $32.6B | 0 | |
| 2023-06-30 | 1179 | $32.3B | 0 | |
| 2023-03-31 | 1188 | $28.9B | 0 | |
| 2022-12-31 | 1321 | $27.9B | 0 | |
| 2022-09-30 | 1190 | $25.4B | 0 | |
| 2022-06-30 | 1429 | $26.2B | 0 | |
| 2022-03-31 | 1114 | $28.8B | 0 | |
| 2021-12-31 | 1308 | $29.9B | 0 | |
| 2021-09-30 | 1300 | $26.9B | 0 | |
| 2021-06-30 | 1309 | $28.0B | 93 | |
| 2021-03-31 | 1202 | $24.2B | 28 | |
| 2020-12-31 | 1142 | $21.7B | 31 | |
| 2020-09-30 | 1122 | $17.6B | 35 | |
| 2020-06-30 | 1135 | $14.8B | 41 | |
| 2020-03-31 | 1102 | $11.8B | 33 | |
| 2019-12-31 | 1285 | $14.6B | 29 | |
| 2019-09-30 | 1283 | $13.0B | 33 | |
| 2019-06-30 | 1385 | $12.2B | 30 | |
| 2019-03-31 | 1252 | $12.0B | 32 | |
| 2018-12-31 | 1258 | $10.9B | 38 | |
| 2018-09-30 | 1212 | $13.0B | 30 | |
| 2018-06-30 | 1267 | $11.9B | 26 | |
| 2018-03-31 | 1253 | $11.9B | 30 | |
| 2017-12-31 | 1292 | $11.7B | 25 | |
| 2017-09-30 | 1636 | $11.8B | 27 | |
| 2017-06-30 | 1675 | $11.3B | 22 | |
| 2017-03-31 | 1725 | $10.9B | 30 | |
| 2016-12-31 | 1773 | $10.4B | 37 | |
| 2016-09-30 | 2196 | $11.7B | 26 | |
| 2016-06-30 | 2171 | $11.8B | 28 | |
| 2016-03-31 | 2157 | $11.8B | 29 | |
| 2015-12-31 | 2147 | $11.8B | 36 | |
| 2015-09-30 | 2129 | $11.4B | 31 | |
| 2015-06-30 | 2315 | $12.3B | 37 | |
| 2015-03-31 | 2152 | $13.1B | 34 | |
| 2014-12-31 | 2042 | $12.4B | 38 | |
| 2014-09-30 | 2327 | $12.3B | 24 | |
| 2014-06-30 | 2314 | $12.9B | 31 | |
| 2014-03-31 | 2276 | $13.2B | 31 | |
| 2013-12-31 | 2105 | $13.4B | 34 | |
| 2013-09-30 | 1853 | $13.3B | 34 | |
| 2013-06-30 | 1785 | $13.5B | 0 |
BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s most significant position changes for 2026-03-31: New buy: AstraZeneca PLC (AZN); New buy: Viking Holdings Ltd (VIK); Trim: Microsoft CORP (MSFT) — shares -2.88%; Add: Totalenergies Se (TTE) — shares +548.50%; Trim: Apple INC (AAPL) — shares -6.32%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TTE | Totalenergies Se | +1% | +548.50% | Add |
| 2 | DB | Deutsche Bank Aktiengesellschaft | +0.3% | +225.90% | Add |
| 3 | MRVL | Marvell Technology INC | +0.3% | +878.93% | Add |
| 4 | RACE | Ferrari N.V. | +0.3% | +157.20% | Add |
| 5 | AMAT | Applied Materials INC | +0.3% | +23.18% | Add |
| 6 | LIN | Linde plc | +0.3% | +81.20% | Add |
| 7 | STLA | Stellantis N.V. | +0.2% | +615.29% | Add |
| 8 | LRCX | Lam Research CORP | +0.2% | +6.35% | Add |
| 9 | GE | General Electric | +0.2% | +106.65% | Add |
| 10 | GILD | Gilead Sciences INC | +0.2% | +20.46% | Add |
| 11 | COST | Costco Wholesale CORP | +0.2% | +12.39% | Add |
| 12 | ✓ | Ferrovial Se | +0.2% | +411.14% | Add |
| 13 | GEV | GE Vernova INC | +0.2% | +41.73% | Add |
| 14 | FLEX | Flex Ltd. | +0.2% | +998.64% | Add |
| 15 | TER | Teradyne INC | +0.2% | +86.06% | Add |
| 16 | STX | Seagate Technology Holdings plc | +0.2% | +483.56% | Add |
| 17 | TT | Trane Technologies plc | +0.2% | +60.80% | Add |
| 18 | FROG | JFrog Ltd. | +0.2% | +309.68% | Add |
| 19 | ALC | Alcon Inc. | +0.2% | +334.17% | Add |
| 20 | BAC | Bank Of America CORP | +0.2% | +67.37% | Add |
| 21 | FDX | Fedex CORP | +0.2% | +197.65% | Add |
| 22 | HLT | Hilton Worldwide Holdings In | +0.2% | +114.17% | Add |
| 23 | TEL | TE Connectivity plc | +0.2% | +177.82% | Add |
| 24 | CRH | CRH plc | +0.1% | +966.36% | Add |
| 25 | INTC | Intel CORP | +0.1% | +29.88% | Add |
| 26 | MU | Micron Technology INC | +0.1% | +14.63% | Add |
| 27 | ADSK | Autodesk INC | -0.1% | -15.23% | Trim |
| 28 | ECL | Ecolab INC | -0.1% | -42.47% | Trim |
| 29 | CRM | Salesforce INC | -0.1% | -14.42% | Trim |
| 30 | FSLR | First Solar INC | -0.2% | -9.27% | Trim |
| 31 | CDNS | Cadence Design Sys INC | -0.2% | -37.67% | Trim |
| 32 | UNH | Unitedhealth Group INC | -0.2% | -29.03% | Trim |
| 33 | JPM | Jpmorgan Chase & Co | -0.2% | -28.52% | Trim |
| 34 | NOW | Servicenow INC | -0.2% | +6.61% | Add |
| 35 | BKNG | Booking Holdings INC | -0.2% | -25.47% | Trim |
| 36 | GOOG | Alphabet Inc-cl C | -0.2% | -7.79% | Trim |
| 37 | INTU | Intuit INC | -0.3% | -17.47% | Trim |
| 38 | V | Visa Inc-class A Shares | -0.3% | -16.06% | Trim |
| 39 | QCOM | Qualcomm INC | -0.3% | -54.15% | Trim |
| 40 | NVDA | Nvidia CORP | -0.3% | +0.14% | Add |
| 41 | BSX | Boston Scientific CORP | -0.3% | -9.80% | Trim |
| 42 | ISRG | Intuitive Surgical INC | -0.4% | -18.83% | Trim |
| 43 | AU | AngloGold Ashanti plc | -0.4% | +72.84% | Add |
| 44 | META | Meta Platforms Inc-class A | -0.5% | -11.49% | Trim |
| 45 | TSLA | Tesla INC | -0.5% | -16.49% | Trim |
| 46 | AMZN | Amazon.com INC | -0.5% | -7.80% | Trim |
| 47 | AAPL | Apple INC | -0.6% | -6.32% | Trim |
| 48 | MSFT | Microsoft CORP | -1.3% | -2.88% | Trim |
| 49 | AZN | AstraZeneca PLC | — | NEW | New buy |
| 50 | VIK | Viking Holdings Ltd | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-07 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-06 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-12 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-08 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-30 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-08 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-09 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-08 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-08 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-10 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-04 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-09 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-08 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-05 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-05 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-09 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-04 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-12 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-11 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-12 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-02 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-26 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-01 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-07 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-01 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-02 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-04 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-08 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-31 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-23 | Amendment | View on EDGAR |
| 2016-09-30 | 2016-11-04 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-09-15 | Amendment | View on EDGAR |
| 2016-06-30 | 2016-08-08 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-05-31 | Amendment | View on EDGAR |
| 2015-12-31 | 2016-02-10 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-12 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-12 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-13 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-13 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-13 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-13 | 13F-HR | View on EDGAR |
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