CIK: 0001637689
Total reported value
$20.4B
Reporting period: 2026-03-31 · Number of holdings: 1968
Swiss Life Asset Management Ltd disclosed 1968 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $20.4B and a quarterly turnover rate of 20.2%.
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Swiss Life Asset Management Ltd's disclosed holdings carry a Herfindahl concentration index of 0.018 — mathematically equivalent to about 57 equally-sized positions, well below its 1968 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
+6.8% -$225.7M
Add VZ
+6.7% $76.4M
Add JNJ
+12.7% $71.2M
Trim TSLA
+7.0% -$45.2M
Add NKE
+344.7% $59.9M
Add CVX
+24.2% $60.0M
Swiss Life is aggressively rotating into liability-hedged mega-caps, front-running a regime shift toward yield-bearing defensive equities while selectively scaling into beaten-down consumer names. The quarter belongs to capital rotation: they are unloading pure-play tech consulting and medical devices to rebuild income anchors in energy and telecom. This positioning squeeze targets cash-flow durability over growth multiples.
The embedded bet is that higher-for-longer rates will privilege financial resilience, constructing an institutional inflation proxy portfolio around XOM, CVX, VZ, and JNJ. The opposing thesis argues this defensive clustering will underperform when duration risk finally compresses and rate cuts unchain growth equity valuations.
Position sizing discipline sits at 49 with a coefficient of variation exceeding five, meaning the portfolio’s alpha drag comes from dead-weight positions diluting conviction stakes. When liquidity thins in the mid-cap tier, this hyper-diversified structure will face brutal execution friction on rebalancing day.
This overview is machine-generated from public regulatory data and describes past filings only — it does not constitute financial advice.
Showing top 200 holdings (of 1968 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 7.79% | -0.21% | +14.49% | |
| 2 | AAPL | Apple INC | Stock-Tech | 5.32% | -0.05% | +10.49% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.96% | -1.35% | +6.83% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.30% | — | +8.38% | |
| 5 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.46% | — | +9.81% | |
| 6 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.41% | — | +7.48% | |
| 7 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.18% | -0.20% | +10.25% | |
| 8 | AVGO | Broadcom INC | Stock-Tech | 1.98% | — | +12.05% | |
| 9 | TSLA | Tesla INC | Stock-Consumer Disc | 1.69% | -0.30% | +6.97% | |
| 10 | VZ | Verizon Communications INC | Stock-Comm Services | 1.56% | +0.32% | +6.70% | |
| 11 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.53% | -0.17% | +9.78% | |
| 12 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.49% | +0.30% | +12.66% | |
| 13 | MO | Altria Group INC | Stock-Consumer Staples | 1.32% | +0.16% | +3.51% | |
| 14 | PFE | Pfizer INC | Stock-Healthcare | 1.01% | +0.14% | +7.19% | |
| 15 | V | Visa Inc-class A Shares | Stock-Financials | 0.97% | — | +11.48% | |
| 16 | CME | Cme Group INC | Stock-Financials | 0.86% | +0.11% | +19.38% | |
| 17 | LRCX | Lam Research CORP | Stock-Tech | 0.82% | +0.16% | +4.75% | |
| 18 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.81% | +0.16% | +13.46% | |
| 19 | CVX | Chevron CORP | Stock-Energy | 0.78% | +0.28% | +24.20% | |
| 20 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.76% | — | +1.63% | |
| 21 | NFLX | Netflix INC | Stock-Comm Services | 0.76% | +0.12% | +12.66% | |
| 22 | MA | Mastercard INC - A | Stock-Financials | 0.73% | — | +35.53% | |
| 23 | ABBV | Abbvie INC | Stock-Healthcare | 0.72% | — | +7.76% | |
| 24 | XOM | Exxon Mobil CORP | Stock-Energy | 0.71% | +0.25% | +15.12% | |
| 25 | OKE | Oneok INC | Stock-Energy | 0.70% | +0.13% | +3.76% | |
| 26 | WMT | Walmart INC | Stock-Consumer Staples | 0.67% | +0.12% | +14.36% | |
| 27 | CAT | Caterpillar INC | Stock-Industrials | 0.66% | +0.14% | +6.82% | |
| 28 | MS | Morgan Stanley | Stock-Financials | 0.65% | — | +5.25% | |
| 29 | CSCO | Cisco Systems INC | Stock-Tech | 0.64% | — | +0.69% | |
| 30 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.61% | +0.09% | +13.04% | |
| 31 | HD | Home Depot INC | Stock-Consumer Disc | 0.58% | — | +7.58% | |
| 32 | TXN | Texas Instruments INC | Stock-Tech | 0.56% | — | +5.31% | |
| 33 | BLK | Blackrock INC | Stock-Financials | 0.54% | — | +6.89% | |
| 34 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.54% | +0.13% | +39.68% | |
| 35 | IBM | Intl Business Machines CORP | Stock-Tech | 0.52% | -0.13% | +6.60% | |
| 36 | UPS | United Parcel Service-cl B | Stock-Industrials | 0.52% | — | +4.28% | |
| 37 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.51% | -0.12% | +2.82% | |
| 38 | BX | Blackstone INC | Stock-Financials | 0.51% | -0.18% | +3.61% | |
| 39 | GE | General Electric | Stock-Industrials | 0.51% | — | +6.97% | |
| 40 | AMAT | Applied Materials INC | Stock-Tech | 0.49% | +0.18% | +23.57% | |
| 41 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.49% | -0.15% | -3.13% | |
| 42 | MU | Micron Technology INC | Stock-Tech | 0.49% | +0.12% | +92.61% | |
| 43 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.49% | — | +7.76% | |
| 44 | AMD | Advanced Micro Devices | Stock-Tech | 0.46% | — | +6.28% | |
| 45 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.45% | — | +15.14% | |
| 46 | KLAC | Kla CORP | Stock-Tech | 0.45% | +0.09% | +7.92% | |
| 47 | PAYX | Paychex INC | Stock-Tech | 0.44% | — | +13.52% | |
| 48 | ADP | Automatic Data Processing | Stock-Tech | 0.43% | — | +16.80% | |
| 49 | GEV | GE Vernova INC | Stock-Industrials | 0.43% | +0.12% | +6.70% | |
| 50 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.41% | +0.20% | +53.04% |
Performance for Q3 2026
+3.2%
Performance Last 4 Quarters
+21.6%
Based on 75% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 1968 | $20.4B | 20 | |
| 2025-12-31 | 1877 | $19.6B | 20 | |
| 2025-09-30 | 1705 | $19.2B | 18 | |
| 2025-06-30 | 1414 | $17.0B | 30 | |
| 2025-03-31 | 1308 | $13.8B | 18 | |
| 2024-12-31 | 1227 | $13.6B | 56 | |
| 2024-09-30 | 1120 | $8.8B | 16 | |
| 2024-06-30 | 1023 | $8.5B | 23 | |
| 2024-03-31 | 651 | $7.2B | 46 | |
| 2023-12-31 | 1083 | $8.3B | 41 | |
| 2023-09-30 | 1050 | $6.5B | 26 | |
| 2023-06-30 | 1041 | $6.8B | 20 | |
| 2023-03-31 | 1028 | $6.6B | 37 | |
| 2022-12-31 | 991 | $6.0B | 20 | |
| 2022-09-30 | 942 | $5.8B | 17 | |
| 2022-06-30 | 1006 | $6.2B | 31 | |
| 2022-03-31 | 854 | $7.1B | 17 | |
| 2021-12-31 | 815 | $7.7B | 19 | |
| 2021-09-30 | 811 | $7.2B | 47 | |
| 2021-06-30 | 736 | $9.9B | 48 | |
| 2021-03-31 | 734 | $7.0B | 17 | |
| 2020-12-31 | 687 | $6.8B | 54 | |
| 2020-09-30 | 662 | $6.7B | 16 | |
| 2020-06-30 | 819 | $6.2B | 25 | |
| 2020-03-31 | 807 | $5.3B | 36 | |
| 2019-12-31 | 806 | $5.3B | 46 | |
| 2019-09-30 | 818 | $7.7B | 26 | |
| 2019-06-30 | 861 | $8.3B | 11 | |
| 2019-03-31 | 653 | $7.9B | 71 | |
| 2018-12-31 | 211 | $4.9B | 44 | |
| 2018-09-30 | 691 | $7.5B | 33 | |
| 2018-06-30 | 664 | $6.7B | 35 | |
| 2018-03-31 | 520 | $5.7B | 45 | |
| 2017-12-31 | 623 | $4.5B | 29 | |
| 2017-09-30 | 597 | $3.7B | 32 | |
| 2017-06-30 | 579 | $3.9B | 13 | |
| 2017-03-31 | 572 | $3.7B | 36 | |
| 2016-12-31 | 540 | $3.0B | 42 | |
| 2016-09-30 | 469 | $2.9B | 32 | |
| 2016-06-30 | 358 | $2.4B | 15 | |
| 2016-03-31 | 399 | $2.4B | 18 | |
| 2015-12-31 | 354 | $2.2B | 51 | |
| 2015-09-30 | 362 | $2.1B | 72 | |
| 2015-06-30 | 317 | $2.9B | 20 | |
| 2015-03-31 | 273 | $2.5B | 0 |
Swiss Life Asset Management Ltd's most significant position changes for 2026-03-31: Sold out: Accenture plc (ACN); Sold out: Medtronic plc (MDT); Sold out: Linde plc (LIN); New buy: Liberty Capital Corp-cl C (GLIBK); Sold out: Amcor plc (AMCR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VZ | Verizon Communications INC | +0.3% | +6.70% | Add |
| 2 | JNJ | Johnson & Johnson | +0.3% | +12.66% | Add |
| 3 | NKE | Nike INC -cl B | +0.3% | +344.72% | Add |
| 4 | CVX | Chevron CORP | +0.3% | +24.20% | Add |
| 5 | XOM | Exxon Mobil CORP | +0.3% | +15.12% | Add |
| 6 | SCHW | Schwab (charles) CORP | +0.2% | +53.04% | Add |
| 7 | AMAT | Applied Materials INC | +0.2% | +23.57% | Add |
| 8 | MO | Altria Group INC | +0.2% | +3.51% | Add |
| 9 | LRCX | Lam Research CORP | +0.2% | +4.75% | Add |
| 10 | MRK | Merck & Co. INC. | +0.2% | +13.46% | Add |
| 11 | PFE | Pfizer INC | +0.1% | +7.19% | Add |
| 12 | CAT | Caterpillar INC | +0.1% | +6.82% | Add |
| 13 | OKE | Oneok INC | +0.1% | +3.76% | Add |
| 14 | COST | Costco Wholesale CORP | +0.1% | +39.68% | Add |
| 15 | DUK | Duke Energy CORP | +0.1% | +143.67% | Add |
| 16 | WMT | Walmart INC | +0.1% | +14.36% | Add |
| 17 | NFLX | Netflix INC | +0.1% | +12.66% | Add |
| 18 | MU | Micron Technology INC | +0.1% | +92.61% | Add |
| 19 | NTRS | Northern Trust CORP | +0.1% | +263.93% | Add |
| 20 | EIX | Edison International | +0.1% | +14.35% | Add |
| 21 | GEV | GE Vernova INC | +0.1% | +6.70% | Add |
| 22 | CME | Cme Group INC | +0.1% | +19.38% | Add |
| 23 | PG | Procter & Gamble Co/the | +0.1% | +13.04% | Add |
| 24 | KLAC | Kla CORP | +0.1% | +7.92% | Add |
| 25 | ADI | Analog Devices INC | +0.1% | +17.43% | Add |
| 26 | PPG | Ppg Industries INC | +0.1% | +72.47% | Add |
| 27 | CTSH | Cognizant Tech Solutions-a | +0.1% | +75.60% | Add |
| 28 | AAPL | Apple INC | -0.1% | +10.49% | Add |
| 29 | APP | Applovin Corp-class A | -0.1% | +5.35% | Add |
| 30 | PLTR | Palantir Technologies Inc-a | -0.1% | +2.82% | Add |
| 31 | CRM | Salesforce INC | -0.1% | -13.83% | Trim |
| 32 | IBM | Intl Business Machines CORP | -0.1% | +6.60% | Add |
| 33 | UNH | Unitedhealth Group INC | -0.2% | -3.13% | Trim |
| 34 | LLY | Eli Lilly & Co | -0.2% | +9.78% | Add |
| 35 | BX | Blackstone INC | -0.2% | +3.61% | Add |
| 36 | META | Meta Platforms Inc-class A | -0.2% | +10.25% | Add |
| 37 | NVDA | Nvidia CORP | -0.2% | +14.49% | Add |
| 38 | TSLA | Tesla INC | -0.3% | +6.97% | Add |
| 39 | MSFT | Microsoft CORP | -1.4% | +6.83% | Add |
| 40 | ACN | Accenture plc | — | EXIT | Sold out |
| 41 | MDT | Medtronic plc | — | EXIT | Sold out |
| 42 | LIN | Linde plc | — | EXIT | Sold out |
| 43 | GLIBK | Liberty Capital Corp-cl C | — | NEW | New buy |
| 44 | AMCR | Amcor plc | — | EXIT | Sold out |
| 45 | ETN | Eaton Corporation plc | — | EXIT | Sold out |
| 46 | HYMC | Hycroft Mining Holding Co-a | — | NEW | New buy |
| 47 | LYB | LyondellBasell Industries N.V. | — | EXIT | Sold out |
| 48 | TT | Trane Technologies plc | — | EXIT | Sold out |
| 49 | STX | Seagate Technology Holdings plc | — | EXIT | Sold out |
| 50 | RCL | Royal Caribbean Cruises Ltd. | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-04 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-12-02 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-12-02 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-12-02 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2025-12-09 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2025-12-29 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2025-12-29 | 13F-HR | View on EDGAR |
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