GAM Holding AG

CIK

1438848

Location

Zurich, V8

Portfolio Value

Mid $1,466,373,993

Diversification

Diversified

Filing Date

Global Rank

#1,453 / 8,664 ▼ 74 · as of Dec 2025

Top Industry

Semiconductors 9.1%

3Y Alpha vs SPY

-4.8%

Period ended 6 months ago

Filed Feb 17, 2026 · 5mo

24 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+54.3%

SPY

+76.5%

Annualised alpha

-5.3%

Max drawdown

−19.9%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

272 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025

Top Position

5.6%

−0.4 pts

Top 5

23.7%

+0.3 pts

Top 10

35.3%

+1.4 pts

HHI

182

Diversified+5

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Technology	29.5%	$432,130,732	57
Financial Services	16.0%	$233,929,734	43
Consumer Cyclical	14.7%	$215,420,541	41
Communication Services	12.3%	$179,885,991	19
Healthcare	8.8%	$129,587,144	28
Industrials	4.3%	$62,867,015	27
Basic Materials	4.2%	$60,956,685	15
Consumer Defensive	3.7%	$54,696,550	11
Energy	3.3%	$48,310,829	15
Utilities	1.5%	$21,426,395	10
Unclassified	1.0%	$14,544,058	2
Real Estate	0.9%	$12,618,319	4

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
XP	XP Inc.	+197,615	248,615	$4,069,827
GRAB	Grab Holdings Ltd	+195,100	333,712	$1,665,222
NAK	Northern Dynasty Minerals Ltd	+156,900	3,626,000	$7,143,220
HEPS	D-MARKET Electronic Services & Trading	+150,000	450,000	$1,116,000
UBS	UBS Group AG	+147,532	1,020,351	$47,252,454
NFLX	Netflix Inc	+129,163	147,678	$13,846,288
F	Ford Motor Co	+112,459	146,335	$1,919,915
CSCO	Cisco Systems, Inc.	+71,135	96,834	$7,459,122
BAC	Bank Of America Corp /De/	+70,315	110,344	$6,068,920
WMT	Walmart Inc.	+46,736	80,275	$8,943,437
NOW	ServiceNow, Inc.	+33,807	46,353	$7,100,815
CARG	CarGurus, Inc.	+32,619	83,068	$3,185,657
AMX	America Movil Sab De Cv/	+29,137	106,249	$2,196,166
SO	Southern Co	+27,483	54,433	$4,746,557
FCX	Freeport-Mcmoran Inc	+27,000	42,000	$2,133,180
DUK	Duke Energy CORP	+24,316	39,571	$4,638,116
ABT	Abbott Laboratories	+23,970	27,440	$3,437,956
MS	Morgan Stanley	+23,576	26,130	$4,638,858
AMRZ	Amrize Ltd	+22,407	317,858	$17,189,760
BBAR	Banco BBVA Argentina S.A.	+20,402	49,361	$891,953
CP	Canadian Pacific Kansas City Ltd/Cn	+20,376	46,663	$3,435,796
WFC	Wells Fargo & Company/Mn	+19,249	140,792	$13,121,814
SN	SharkNinja, Inc.	+18,430	49,443	$5,532,671
TD	Toronto Dominion Bank	+18,200	24,100	$2,270,220
GM	General Motors Co	+18,157	25,405	$2,065,934
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
YMM	Full Truck Alliance Co. Ltd.	−336,705	303,655	$3,258,218
COTY	Coty Inc.	−295,000	355,000	$1,093,400
RNW	ReNew Energy Global plc	−270,000	100,000	$565,000
CDZI	Cadiz Inc	−260,211	230,000	$1,290,300
TME	Tencent Music Entertainment Group	−122,000	54,000	$946,620
BMY	Bristol Myers Squibb Co	−95,873	86,896	$4,687,170
UBER	Uber Technologies, Inc	−84,173	49,337	$4,031,325
OSW	ONESPAWORLD HOLDINGS Ltd	−73,000	331,800	$6,881,532
PAGS	PagSeguro Digital Ltd.	−69,800	30,000	$289,200
GOOGL	Alphabet Inc.	−59,132	254,721	$79,727,673
ONON	On Holding AG	−48,100	55,900	$2,598,232
ATAT	Atour Lifestyle Holdings Ltd	−46,800	60,000	$2,364,000
NVDA	Nvidia Corp	−45,687	411,783	$76,797,529
HDB	Hdfc Bank Ltd	−44,677	70,457	$2,574,498
COP	Conocophillips	−41,556	43,914	$4,110,789
BATL	Battalion Oil Corp	−35,000	80,000	$90,400
EA	Electronic Arts Inc.	−32,717	1,705	$348,382
LOGI	Logitech International S.A.	−32,395	140,780	$14,108,971
FUTU	Futu Holdings Ltd	−30,800	21,000	$3,448,410
AMAT	Applied Materials Inc /De	−30,427	42,176	$10,838,809
TPR	Tapestry, Inc.	−29,700	96,200	$12,291,474
VIK	Viking Holdings Ltd	−27,900	164,101	$11,718,452
AS	Amer Sports, Inc.	−26,300	268,800	$10,039,680
APH	Amphenol Corp /De/	−24,830	45,975	$6,213,061
TEL	TE Connectivity plc	−24,618	22,201	$5,050,949
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
TTE	TotalEnergies SE	194,786	$12,742,900
VZ	Verizon Communications Inc	200,857	$8,180,905
EXE	EXPAND ENERGY Corp	39,656	$4,376,435
EQT	EQT Corp	64,203	$3,441,280
AVB	Avalonbay Communities Inc	18,726	$3,395,211
SNOW	Snowflake Inc.	13,553	$2,972,985
NSC	Norfolk Southern Corp	9,000	$2,598,480
FAST	Fastenal Co	58,639	$2,353,182
FERG	Ferguson Enterprises Inc. /DE/	9,296	$2,069,568
BAP	Credicorp Ltd	6,770	$1,942,990
DOW	Dow Inc.	77,474	$1,811,342
AWK	American Water Works Company, Inc.	13,450	$1,755,225
AU	AngloGold Ashanti PLC	20,100	$1,714,128
EQIX	Equinix Inc	2,207	$1,690,915
TER	Teradyne, Inc	7,210	$1,395,567
WIT	Wipro Ltd	380,000	$1,079,200
UAMY	United States Antimony Corp	200,000	$1,004,000
TIMB	Tim S.A.	50,000	$972,500
BHF	Brighthouse Financial, Inc.	15,000	$971,850
AMWD	American Woodmark Corp	16,000	$862,400
STAA	Staar Surgical Co	35,800	$826,622
IBKR	Interactive Brokers Group, Inc.	12,524	$805,418
EME	EMCOR Group, Inc.	1,156	$707,229
VRT	Vertiv Holdings Co	4,291	$695,184
BIOX	Bioceres Crop Solutions Corp.	500,000	$655,000
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
LRCX	Lam Research Corp	120,436	$16,126,379
MGM	MGM Resorts International	160,000	$5,545,600
BZ	Kanzhun Ltd	233,677	$5,458,694
ARM	Arm Holdings PLC /Uk	33,314	$4,713,597
AFL	Aflac Inc	37,720	$4,213,324
MSCI	MSCI Inc.	4,872	$2,764,421
VRSK	Verisk Analytics, Inc.	9,173	$2,307,101
LNT	Alliant Energy Corp	33,868	$2,283,041
PPG	Ppg Industries Inc	21,281	$2,236,845
ESS	Essex Property Trust, Inc.	8,019	$2,146,365
NOC	Northrop Grumman Corp /De/	3,238	$1,972,978
FTNT	Fortinet, Inc.	22,174	$1,864,389
EFX	Equifax Inc	7,046	$1,807,510
FWONA	Liberty Media Corp	16,888	$1,608,075
IR	Ingersoll Rand Inc.	17,949	$1,482,946
GOOS	Canada Goose Holdings Inc.	100,000	$1,379,000
CPAY	Corpay, Inc.	4,585	$1,320,755
DRI	Darden Restaurants Inc	6,844	$1,302,823
DUOL	Duolingo, Inc.	3,599	$1,158,302
CPRT	Copart Inc	25,477	$1,145,700
QQQ	Invesco Qqq Trust, Series 1	1,400	$840,518
BAH	Booz Allen Hamilton Holding Corp	8,148	$814,392
DXCM	Dexcom Inc	10,121	$681,042
VSTS	Vestis Corp	140,000	$634,200
LNTH	Lantheus Holdings, Inc.	12,213	$626,404
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

272 positions · $1,466,373,993 total · as of Dec 31, 2025

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 272 positions by value · page 1 of 6

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MSFT	Microsoft Corp Technology	Reduced	169,875	-7,709	$82,154,947	−10.7%	5.60%
GOOGL	Alphabet Inc. Communication Services	Reduced	254,721	-59,132	$79,727,673	+4.5%	5.44%
NVDA	Nvidia Corp Technology	Reduced	411,783	-45,687	$76,797,529	−10.0%	5.24%
AAPL	Apple Inc. Technology	Added	228,914	+16,422	$62,232,559	+15.0%	4.24%
UBS	UBS Group AG Financial Services	Added	1,020,351	+147,532	$47,252,454	+32.0%	3.22%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	193,517	-7,271	$44,667,592	+1.3%	3.05%
META	Meta Platforms, Inc. Communication Services	Reduced	67,250	-1,835	$44,391,051	−12.5%	3.03%
V	Visa Inc. Financial Services	Added	90,067	+3,427	$31,587,397	+6.8%	2.15%
AVGO	Broadcom Inc. Technology	Added	79,581	+151	$27,542,983	+5.1%	1.88%
LLY	ELI LILLY & Co Healthcare	Reduced	20,201	-322	$21,709,612	+38.6%	1.48%
JPM	Jpmorgan Chase & Co Financial Services	Added	55,480	+158	$17,876,764	+2.4%	1.22%
CRH	Crh Public Ltd Co Basic Materials	Reduced	139,180	-7,503	$17,369,664	−1.2%	1.18%
AMRZ	Amrize Ltd Basic Materials	Added	317,858	+22,407	$17,189,760	+19.9%	1.17%
MA	Mastercard Inc Financial Services	Added	28,003	+243	$15,986,351	+1.2%	1.09%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	107,664	+10,640	$15,429,327	+3.5%	1.05%
ALC	Alcon Inc Healthcare	Reduced	195,449	-1,121	$15,403,335	+5.2%	1.05%
IBM	International Business Machines Corp Technology	Added	51,039	+486	$15,118,262	+6.0%	1.03%
HLT	Hilton Worldwide Holdings Inc. Consumer Cyclical	Reduced	52,112	-25	$14,969,171	+10.7%	1.02%
XOM	Exxon Mobil Corp Energy	Reduced	123,617	-1,285	$14,876,069	+5.6%	1.01%
LOGI	Logitech International S.A. Technology	Reduced	140,780	-32,395	$14,108,971	−25.7%	0.96%
NFLX	Netflix Inc Communication Services	Added	147,678	+129,163	$13,846,288	+523.8%	0.94%
MRK	Merck & Co., Inc. Healthcare	Added	130,615	+7,714	$13,748,534	+33.3%	0.94%
ORCL	Oracle Corp Technology	Reduced	69,336	-16,704	$13,514,279	−44.2%	0.92%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	44,295	+6,644	$13,460,806	+28.0%	0.92%
WFC	Wells Fargo & Company/Mn Financial Services	Added	140,792	+19,249	$13,121,814	+28.8%	0.89%
RACE	Ferrari N.V. Consumer Cyclical	Reduced	35,175	-6,595	$12,999,273	−35.9%	0.89%
TTE	TotalEnergies SE Energy	NEW	194,786	NEW	$12,742,900	NEW	0.87%
TPR	Tapestry, Inc. Consumer Cyclical	Reduced	96,200	-29,700	$12,291,474	−13.8%	0.84%
MKL	Markel Group Inc. Financial Services	Reduced	5,587	-236	$12,010,093	+7.9%	0.82%
DIS	Walt Disney Co Communication Services	Reduced	104,225	-5,940	$11,857,677	−6.0%	0.81%
VIK	Viking Holdings Ltd Consumer Cyclical	Reduced	164,101	-27,900	$11,718,452	−1.8%	0.80%
RL	Ralph Lauren Corp Consumer Cyclical	Reduced	32,950	-6,670	$11,651,449	−6.2%	0.79%
JNJ	Johnson & Johnson Healthcare	Reduced	55,945	-3,533	$11,577,817	+5.0%	0.79%
AMAT	Applied Materials Inc /De Technology	Reduced	42,176	-30,427	$10,838,809	−27.1%	0.74%
AS	Amer Sports, Inc. Consumer Cyclical	Reduced	268,800	-26,300	$10,039,680	−2.1%	0.68%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	11,603	+2,335	$10,005,730	+16.6%	0.68%
RCL	Royal Caribbean Cruises Ltd Consumer Cyclical	Reduced	35,860	-5,178	$10,002,070	−24.7%	0.68%
EMR	Emerson Electric Co Industrials	Added	73,439	+14,828	$9,746,824	+26.8%	0.66%
UVIX	VS Trust	Held	80,000	0	$9,136,000	−42.5%	0.62%
WMT	Walmart Inc. Consumer Defensive	Added	80,275	+46,736	$8,943,437	+158.7%	0.61%
SCHW	Schwab Charles Corp Financial Services	Reduced	87,210	-5,364	$8,713,150	−1.4%	0.59%
SW	Smurfit Westrock plc Consumer Cyclical	Reduced	223,331	-15,179	$8,636,209	−14.9%	0.59%
INTU	Intuit Inc. Technology	Reduced	12,902	-1,897	$8,546,542	−15.4%	0.58%
LIN	Linde PLC Basic Materials	Reduced	20,022	-114	$8,537,179	−10.7%	0.58%
UNH	Unitedhealth Group Inc Healthcare	Reduced	25,245	-10,245	$8,333,626	−32.0%	0.57%
VZ	Verizon Communications Inc Communication Services	NEW	200,857	NEW	$8,180,905	NEW	0.56%
CAT	Caterpillar Inc Industrials	Added	13,910	+2,870	$7,968,621	+51.3%	0.54%
CSCO	Cisco Systems, Inc. Technology	Added	96,834	+71,135	$7,459,122	+324.2%	0.51%
MDT	Medtronic plc Healthcare	Reduced	77,401	-1,080	$7,435,139	−0.5%	0.51%
HBAN	Huntington Bancshares Inc /Md/ Financial Services	Held	425,292	0	$7,378,816	+0.5%	0.50%