# ABEILLE ASSET MANAGEMENT SA

> Institutional holdings reported to the SEC as of Q4 2022 on Form 13F. CIK 1145937. Source: https://holderbook.com/funds/1145937-abeille-asset-management-sa/

- Reported value: $2.8B
- Positions: 99
- Weight of the ten largest: 31.8%
- Filed: 2023-02-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $179.3M | 397,267 | 6.4% | 5 |
| LAUDER ESTEE COS INC | [EL](https://holderbook.com/stocks/EL/) | $124.7M | 35,033 | 4.4% | 1 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $117.5M | 904,418 | 4.2% | 4 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $98.4M | 1,114,961 | 3.5% | 5 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $85.1M | 1,012,621 | 3.0% | 5 |
| SIMON PPTY GROUP INC NEW | [SPG](https://holderbook.com/stocks/SPG/) | $71.5M | 5,111 | 2.5% | 5 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $55.8M | 439,737 | 2.0% | 3 |
| MARTIN MARIETTA MATLS INC | [MLM](https://holderbook.com/stocks/MLM/) | $55.0M | 70,960 | 2.0% | 4 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $55.0M | 367,362 | 1.9% | 4 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $54.4M | 133,591 | 1.9% | 1 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $53.9M | 105,240 | 1.9% | 4 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $49.3M | 1,488,780 | 1.7% | 4 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $49.3M | 180,197 | 1.7% | 4 |
| FERRARI N V | [RACE](https://holderbook.com/stocks/RACE/) | $49.2M | 36,618 | 1.7% | 5 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $46.8M | 21,949 | 1.7% | 5 |
| BIONTECH SE | [BNTX](https://holderbook.com/stocks/BNTX/) | $46.0M | 4,726 | 1.6% | 1 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $44.8M | 184,837 | 1.6% | 4 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $44.5M | 178,557 | 1.6% | 4 |
| TERRENO RLTY CORP | [TRNO](https://holderbook.com/stocks/TRNO/) | $44.4M | 19,561 | 1.6% | 5 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $44.1M | 158,275 | 1.6% | 5 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $44.1M | 165,777 | 1.6% | 5 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $42.4M | 259,375 | 1.5% | 5 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $39.3M | 747,555 | 1.4% | 5 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $39.3M | 23,236 | 1.4% | 5 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $39.2M | 200,559 | 1.4% | 1 |
| PHILLIPS 66 | [PSX](https://holderbook.com/stocks/PSX/) | $38.6M | 305,882 | 1.4% | 2 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $38.3M | 139,408 | 1.4% | 3 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $38.1M | 179,908 | 1.4% | 5 |
| HESS CORP | [HES](https://holderbook.com/stocks/HES/) | $36.9M | 236,559 | 1.3% | 3 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $35.8M | 11,172 | 1.3% | 5 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $35.8M | 331,085 | 1.3% | 1 |
| MONDELEZ INTL INC | [MDLZ](https://holderbook.com/stocks/MDLZ/) | $34.6M | 589,583 | 1.2% | 5 |
| GENERAL MILLS INC | [GIS](https://holderbook.com/stocks/GIS/) | $33.5M | 52,111 | 1.2% | 1 |
| INVITATION HOMES INC | [INVH](https://holderbook.com/stocks/INVH/) | $33.5M | 30,728 | 1.2% | 5 |
| FEDERAL RLTY INVT TR NEW | [FRT](https://holderbook.com/stocks/FRT/) | $32.3M | 7,251 | 1.1% | 4 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $31.8M | 399,809 | 1.1% | 5 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $31.6M | 357,918 | 1.1% | 5 |
| EVERSOURCE ENERGY | [ES](https://holderbook.com/stocks/ES/) | $31.6M | 231,158 | 1.1% | 4 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $29.9M | 26,719 | 1.1% | 5 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $29.8M | 459,360 | 1.1% | 1 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $29.3M | 117,353 | 1.0% | 1 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $28.8M | 2,523 | 1.0% | 1 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $28.5M | 361,267 | 1.0% | 4 |
| OTIS WORLDWIDE CORP | [OTIS](https://holderbook.com/stocks/OTIS/) | $28.5M | 501,013 | 1.0% | 5 |
| LINDE PLC | [LINXXXX](https://holderbook.com/stocks/LINXXXX/) | $26.2M | 381,720 | 0.9% | 5 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $24.8M | 198,756 | 0.9% | 5 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $24.5M | 51,579 | 0.9% | 4 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $24.5M | 89,046 | 0.9% | 1 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $24.3M | 221,712 | 0.9% | 4 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $24.0M | 150,226 | 0.9% | 3 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $23.5M | 184,564 | 0.8% | 5 |
| DOUGLAS EMMETT INC | [DEI](https://holderbook.com/stocks/DEI/) | $23.5M | 25,715 | 0.8% | 5 |
| QIAGEN NV | [QGEN](https://holderbook.com/stocks/QGEN/) | $23.2M | 931,270 | 0.8% | 5 |
| DIGITAL RLTY TR INC | [DLR](https://holderbook.com/stocks/DLR/) | $23.1M | 10,428 | 0.8% | 5 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $22.9M | 263,821 | 0.8% | 1 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $20.1M | 96,500 | 0.7% | 4 |
| CONAGRA BRANDS INC | [CAG](https://holderbook.com/stocks/CAG/) | $19.6M | 640,767 | 0.7% | 1 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $19.5M | 80,716 | 0.7% | 4 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $19.4M | 26,556 | 0.7% | 4 |
| ALEXANDRIA REAL ESTATE EQ IN | [ARE](https://holderbook.com/stocks/ARE/) | $18.8M | 128,867 | 0.7% | 5 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $18.8M | 706,963 | 0.7% | 4 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $18.6M | 386,943 | 0.7% | 1 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $17.4M | 133,678 | 0.6% | 5 |
| RALPH LAUREN CORP | [RL](https://holderbook.com/stocks/RL/) | $17.1M | 80,000 | 0.6% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $16.5M | 94,717 | 0.6% | 4 |
| STELLANTIS N.V | [STLA](https://holderbook.com/stocks/STLA/) | $13.7M | 5,042,869 | 0.5% | 5 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $12.6M | 136,533 | 0.4% | 4 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $11.4M | 241,426 | 0.4% | 4 |
| ALCON AG | [ALC](https://holderbook.com/stocks/ALC/) | $10.8M | 158,357 | 0.4% | 5 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $10.0M | 244,129 | 0.4% | 5 |
| JOHNSON CONTROLS INTERNATION | [JCI](https://holderbook.com/stocks/JCI/) | $8.7M | 522,779 | 0.3% | 1 |
| PRUDENTIAL FINL INC | [PRU](https://holderbook.com/stocks/PRU/) | $8.5M | 70,166 | 0.3% | 5 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $8.3M | 56,220 | 0.3% | 5 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $8.2M | 358,335 | 0.3% | 1 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $7.8M | 286,410 | 0.3% | 3 |
| REXFORD INDL RLTY INC | [REXR](https://holderbook.com/stocks/REXR/) | $7.8M | 26,439 | 0.3% | 5 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $7.7M | 420,879 | 0.3% | 3 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $7.3M | 282,577 | 0.3% | 4 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $7.0M | 79,017 | 0.2% | 5 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $7.0M | 255,012 | 0.2% | 5 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $6.4M | 215,968 | 0.2% | 5 |
| BLACKROCK INC | [BLKXXXX](https://holderbook.com/stocks/BLKXXXX/) | $5.1M | 64,946 | 0.2% | 5 |
| FIRST REP BK SAN FRANCISCO C | [FRCB](https://holderbook.com/stocks/FRCB/) | $4.4M | 265,313 | 0.2% | 3 |
| PDD HOLDINGS INC | [PDD](https://holderbook.com/stocks/PDD/) | $2.5M | 3,470 | 0.1% | 1 |
| MODERNA INC | [MRNA](https://holderbook.com/stocks/MRNA/) | $2.3M | 92,086 | 0.1% | 1 |
| EQUITY LIFESTYLE PROPERTIES | [ELS](https://holderbook.com/stocks/ELS/) | $1.6M | 20,690 | 0.1% | 5 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $1.4M | 180,002 | 0.1% | 2 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $1.3M | 244,855 | 0.0% | 1 |
| SUN CMNTYS INC | [SUI](https://holderbook.com/stocks/SUI/) | $1.1M | 7,442 | 0.0% | 5 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $1.1M | 73,603 | 0.0% | 5 |
| DEUTSCHE BK AG | [DB](https://holderbook.com/stocks/DB/) | $1.0M | 560,827 | 0.0% | 4 |
| AVALONBAY CMNTYS INC | [AVB](https://holderbook.com/stocks/AVB/) | $980.4K | 6,070 | 0.0% | 5 |
| HEALTHCARE RLTY TR | [HR](https://holderbook.com/stocks/HR/) | $910.8K | 29,407 | 0.0% | 2 |
| EXTRA SPACE STORAGE INC | [EXR](https://holderbook.com/stocks/EXR/) | $732.6K | 10,674 | 0.0% | 5 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $732.3K | 1,136,747 | 0.0% | 1 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $600.4K | 734,587 | 0.0% | 4 |
| GALLAGHER ARTHUR J & CO | [AJG](https://holderbook.com/stocks/AJG/) | $566.7K | 261,096 | 0.0% | 4 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $403.2K | 265,567 | 0.0% | 5 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $283.0K | 300,971 | 0.0% | 5 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2022 | +9.2% | +7.1% | +2.1% | 100% |
| Q3 2022 | -6.0% | -5.3% | -0.7% | 100% |
| Q2 2022 | -16.7% | -16.5% | -0.3% | 100% |
| Q1 2022 | -10.2% | -4.9% | -5.3% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2022 | $2.8B | 99 |
| Q3 2022 | $2.6B | 90 |
| Q2 2022 | $2.8B | 92 |
| Q1 2022 | $3.5B | 91 |
| Q4 2021 | $431.5M | 64 |