# SHELL ASSET MANAGEMENT CO

> Institutional holdings reported to the SEC as of Q3 2025 on Form 13F. CIK 1211028. Source: https://holderbook.com/funds/1211028-shell-asset-management-co/

- Reported value: $995.7M
- Positions: 1,141
- Weight of the ten largest: 31.0%
- Filed: 2025-11-07

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 |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $66.2M | 354,566 | 6.6% | 27 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $52.7M | 207,085 | 5.3% | 27 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $51.5M | 99,347 | 5.2% | 27 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $29.6M | 134,878 | 3.0% | 27 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $21.7M | 65,895 | 2.2% | 27 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $21.0M | 86,189 | 2.1% | 27 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $20.4M | 27,838 | 2.1% | 27 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $17.4M | 39,165 | 1.7% | 27 |
| ISHARES TR | [INDA](https://holderbook.com/stocks/INDA/) | $15.0M | 287,959 | 1.5% | 27 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $13.1M | 53,943 | 1.3% | 27 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $9.6M | 30,326 | 1.0% | 27 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $9.3M | 12,193 | 0.9% | 27 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $9.0M | 26,381 | 0.9% | 27 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $8.7M | 15,332 | 0.9% | 27 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $8.0M | 8,600 | 0.8% | 27 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $7.8M | 19,211 | 0.8% | 27 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $7.1M | 14,078 | 0.7% | 27 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $5.7M | 112,346 | 0.6% | 27 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $5.6M | 4,703 | 0.6% | 27 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $5.3M | 18,862 | 0.5% | 27 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $5.2M | 22,295 | 0.5% | 27 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $5.1M | 14,761 | 0.5% | 27 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $5.1M | 27,899 | 0.5% | 4 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $5.0M | 32,591 | 0.5% | 27 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $5.0M | 16,604 | 0.5% | 16 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $5.0M | 17,723 | 0.5% | 27 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $4.8M | 7,046 | 0.5% | 27 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $4.6M | 22,285 | 0.5% | 27 |
| BROADRIDGE FINL SOLUTIONS IN | [BR](https://holderbook.com/stocks/BR/) | $4.3M | 17,999 | 0.4% | 27 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $4.2M | 17,050 | 0.4% | 27 |
| KRANESHARES TRUST | [KBA](https://holderbook.com/stocks/KBA/) | $4.2M | 139,850 | 0.4% | 26 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $4.1M | 8,498 | 0.4% | 27 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $4.1M | 50,693 | 0.4% | 27 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $4.0M | 24,539 | 0.4% | 27 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $4.0M | 59,842 | 0.4% | 27 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $3.9M | 15,444 | 0.4% | 27 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $3.9M | 11,608 | 0.4% | 27 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $3.8M | 55,576 | 0.4% | 27 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $3.8M | 22,427 | 0.4% | 27 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $3.7M | 23,116 | 0.4% | 27 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $3.7M | 3,983 | 0.4% | 27 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $3.6M | 15,387 | 0.4% | 27 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $3.6M | 21,510 | 0.4% | 27 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $3.6M | 21,627 | 0.4% | 27 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $3.6M | 42,557 | 0.4% | 27 |
| PDD HOLDINGS INC | [PDD](https://holderbook.com/stocks/PDD/) | $3.5M | 26,705 | 0.4% | 26 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $3.5M | 31,624 | 0.4% | 27 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $3.4M | 11,719 | 0.3% | 27 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $3.3M | 76,048 | 0.3% | 27 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $3.3M | 7,442 | 0.3% | 27 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $3.3M | 6,949 | 0.3% | 27 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $3.3M | 39,209 | 0.3% | 27 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $3.2M | 10,663 | 0.3% | 27 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $3.2M | 15,179 | 0.3% | 27 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $3.2M | 19,093 | 0.3% | 27 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $3.1M | 20,765 | 0.3% | 27 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $3.1M | 8,705 | 0.3% | 27 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $3.0M | 16,993 | 0.3% | 27 |
| THOMSON REUTERS CORP | [TRIXXXX](https://holderbook.com/stocks/TRIXXXX/) | $2.9M | 18,928 | 0.3% | 9 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $2.9M | 28,216 | 0.3% | 27 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $2.9M | 13,659 | 0.3% | 27 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $2.9M | 29,600 | 0.3% | 25 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $2.8M | 4,612 | 0.3% | 5 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $2.8M | 9,992 | 0.3% | 27 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $2.8M | 16,610 | 0.3% | 21 |
| AMERICAN WTR WKS CO INC NEW | [AWK](https://holderbook.com/stocks/AWK/) | $2.8M | 19,780 | 0.3% | 27 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $2.7M | 41,471 | 0.3% | 27 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $2.7M | 27,732 | 0.3% | 27 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $2.7M | 51,974 | 0.3% | 27 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $2.7M | 7,253 | 0.3% | 27 |
| CBOE GLOBAL MKTS INC | [CBOE](https://holderbook.com/stocks/CBOE/) | $2.7M | 10,919 | 0.3% | 27 |
| NASDAQ INC | [NDAQ](https://holderbook.com/stocks/NDAQ/) | $2.6M | 29,932 | 0.3% | 27 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $2.6M | 6,666 | 0.3% | 27 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $2.6M | 3,322 | 0.3% | 27 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $2.6M | 13,966 | 0.3% | 27 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $2.6M | 5,602 | 0.3% | 27 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $2.5M | 14,291 | 0.3% | 27 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $2.5M | 10,499 | 0.2% | 27 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $2.5M | 8,597 | 0.2% | 27 |
| ISHARES TR | [KSA](https://holderbook.com/stocks/KSA/) | $2.5M | 60,557 | 0.2% | 25 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $2.5M | 16,965 | 0.2% | 27 |
| HARTFORD INSURANCE GROUP INC | [HIG](https://holderbook.com/stocks/HIG/) | $2.4M | 18,212 | 0.2% | 27 |
| CANADIAN IMPERIAL BANK OF CO | [CM](https://holderbook.com/stocks/CM/) | $2.4M | 30,326 | 0.2% | 27 |
| BANK MONTREAL MEDIUM | [BMO](https://holderbook.com/stocks/BMO/) | $2.4M | 18,611 | 0.2% | 27 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $2.4M | 9,722 | 0.2% | 9 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $2.3M | 17,520 | 0.2% | 4 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $2.3M | 66,878 | 0.2% | 18 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $2.3M | 7,254 | 0.2% | 27 |
| PRUDENTIAL FINL INC | [PRU](https://holderbook.com/stocks/PRU/) | $2.3M | 22,365 | 0.2% | 27 |
| FORTIS INC | [FTS](https://holderbook.com/stocks/FTS/) | $2.3M | 45,623 | 0.2% | 27 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $2.3M | 6,586 | 0.2% | 27 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $2.3M | 17,883 | 0.2% | 27 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $2.3M | 3,202 | 0.2% | 9 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $2.3M | 45,913 | 0.2% | 27 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $2.2M | 8,005 | 0.2% | 27 |
| PTC INC | [PTC](https://holderbook.com/stocks/PTC/) | $2.2M | 10,654 | 0.2% | 27 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $2.2M | 19,176 | 0.2% | 27 |
| SYNCHRONY FINANCIAL | [SYF](https://holderbook.com/stocks/SYF/) | $2.2M | 30,342 | 0.2% | 27 |
| ELECTRONIC ARTS INC | [EA](https://holderbook.com/stocks/EA/) | $2.1M | 10,447 | 0.2% | 27 |
| F5 INC | [FFIV](https://holderbook.com/stocks/FFIV/) | $2.1M | 6,470 | 0.2% | 27 |

## 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 |
|---|---|---|---|---|
| Q3 2025 | +7.6% | +7.8% | -0.2% | 100% |
| Q2 2025 | +10.4% | +10.5% | -0.1% | 100% |
| Q1 2025 | -4.7% | -4.6% | -0.1% | 100% |
| Q4 2024 | +1.5% | +2.1% | -0.6% | 100% |
| Q2 2024 | +3.5% | +4.0% | -0.6% | 100% |
| Q1 2024 | +9.3% | +10.0% | -0.7% | 100% |
| Q4 2023 | +12.2% | +11.2% | +1.0% | 100% |
| Q3 2023 | -4.1% | -3.6% | -0.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2025 | $995.7M | 1,141 |
| Q2 2025 | $2.9B | 1,265 |
| Q1 2025 | $2.1B | 1,258 |
| Q4 2024 | $2.3B | 1,260 |
| Q3 2024 | $2.3B | 1,251 |
| Q1 2024 | $2.3B | 1,260 |
| Q4 2023 | $2.2B | 1,247 |
| Q3 2023 | $2.4B | 1,256 |
| Q2 2023 | $2.5B | 1,277 |
| Q1 2023 | $2.4B | 1,248 |
| Q4 2022 | $2.3B | 1,336 |
| Q3 2022 | $2.6B | 1,388 |