# GAM Holding AG

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1438848. Source: https://holderbook.com/funds/1438848-gam-holding-ag/

- Reported value: $1.3B
- Positions: 273
- Weight of the ten largest: 34.0%
- Filed: 2026-08-14

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/) | $70.4M | 351,622 | 5.4% | 24 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $67.1M | 187,665 | 5.1% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $51.9M | 139,116 | 4.0% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $50.9M | 176,077 | 3.9% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $41.7M | 175,049 | 3.2% | 31 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $37.9M | 762,272 | 2.9% | 5 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $36.9M | 97,566 | 2.8% | 30 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $32.6M | 57,863 | 2.5% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $27.4M | 22,843 | 2.1% | 13 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $27.4M | 37,829 | 2.1% | 22 |
| ISHARES INC | [URTH](https://holderbook.com/stocks/URTH/) | $27.2M | 134,058 | 2.1% | 5 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $24.2M | 50,641 | 1.9% | 31 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $22.7M | 121,143 | 1.7% | 1 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $18.9M | 54,977 | 1.4% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $14.8M | 12,838 | 1.1% | 4 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $14.6M | 57,382 | 1.1% | 31 |
| HILTON WORLDWIDE HLDGS INC | [HLT](https://holderbook.com/stocks/HLT/) | $14.2M | 42,899 | 1.1% | 23 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $14.2M | 120,677 | 1.1% | 5 |
| FERRARI N V | [RACE](https://holderbook.com/stocks/RACE/) | $13.6M | 36,585 | 1.0% | 5 |
| TAPESTRY INC | [TPR](https://holderbook.com/stocks/TPR/) | $13.4M | 91,300 | 1.0% | 7 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $12.5M | 38,045 | 1.0% | 31 |
| VIKING HOLDINGS LTD | [VIK](https://holderbook.com/stocks/VIK/) | $12.4M | 118,711 | 1.0% | 8 |
| CRH PLC | [CRH](https://holderbook.com/stocks/CRH/) | $12.3M | 114,960 | 0.9% | 5 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $12.3M | 23,905 | 0.9% | 31 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $12.2M | 32,920 | 0.9% | 19 |
| LOGITECH INTL S A | [LOGI](https://holderbook.com/stocks/LOGI/) | $12.2M | 129,449 | 0.9% | 5 |
| AMRIZE LTD | [AMRZ](https://holderbook.com/stocks/AMRZ/) | $12.1M | 228,199 | 0.9% | 4 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $12.1M | 93,799 | 0.9% | 31 |
| ERMENEGILDO ZEGNA N V | [ZGN](https://holderbook.com/stocks/ZGN/) | $11.2M | 857,873 | 0.9% | 10 |
| SMURFIT WESTROCK PLC | [SW](https://holderbook.com/stocks/SW/) | $9.6M | 206,576 | 0.7% | 4 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $9.4M | 8,858 | 0.7% | 11 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $9.3M | 82,035 | 0.7% | 7 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $9.0M | 29,953 | 0.7% | 22 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $9.0M | 25,539 | 0.7% | 13 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $8.6M | 104,249 | 0.7% | 5 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $8.4M | 19,718 | 0.6% | 11 |
| RALPH LAUREN CORP | [RL](https://holderbook.com/stocks/RL/) | $8.3M | 20,660 | 0.6% | 9 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $8.2M | 12,000 | 0.6% | 31 |
| SHARKNINJA INC | [SN](https://holderbook.com/stocks/SN/) | $8.2M | 54,094 | 0.6% | 9 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $8.0M | 58,571 | 0.6% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $7.9M | 8,478 | 0.6% | 11 |
| ALCON AG | [ALC](https://holderbook.com/stocks/ALC/) | $7.9M | 116,703 | 0.6% | 5 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $7.8M | 96,290 | 0.6% | 17 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $7.8M | 20,885 | 0.6% | 7 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $7.4M | 89,852 | 0.6% | 5 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $7.3M | 49,489 | 0.6% | 8 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $7.0M | 16,889 | 0.5% | 31 |
| AMER SPORTS INC | [AS](https://holderbook.com/stocks/AS/) | $6.7M | 198,600 | 0.5% | 7 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $6.6M | 3,870 | 0.5% | 5 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $6.5M | 11,256 | 0.5% | 4 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $6.4M | 3,301 | 0.5% | 22 |
| XP INC | [XP](https://holderbook.com/stocks/XP/) | $6.4M | 394,299 | 0.5% | 4 |
| LIFE TIME GROUP HOLDINGS INC | [LTH](https://holderbook.com/stocks/LTH/) | $6.3M | 154,300 | 0.5% | 1 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $6.2M | 24,717 | 0.5% | 7 |
| ROYAL CARIBBEAN GROUP | [RCL](https://holderbook.com/stocks/RCL/) | $6.0M | 18,790 | 0.5% | 6 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $5.9M | 61,659 | 0.5% | 18 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $5.8M | 81,811 | 0.4% | 16 |
| ONESPAWORLD HOLDINGS LIMITED | [OSW](https://holderbook.com/stocks/OSW/) | $5.8M | 206,500 | 0.4% | 10 |
| LEVI STRAUSS & CO NEW | [LEVI](https://holderbook.com/stocks/LEVI/) | $5.7M | 229,500 | 0.4% | 2 |
| CARGURUS INC | [CARG](https://holderbook.com/stocks/CARG/) | $5.5M | 162,600 | 0.4% | 4 |
| SPDR SERIES TRUST | [EFIV](https://holderbook.com/stocks/EFIV/) | $5.5M | 75,715 | 0.4% | 3 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $5.5M | 59,343 | 0.4% | 28 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $5.4M | 15,851 | 0.4% | 6 |
| NEBIUS GROUP N.V. | [NBIS](https://holderbook.com/stocks/NBIS/) | $5.4M | 19,523 | 0.4% | 1 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $5.3M | 12,222 | 0.4% | 4 |
| ISHARES TR | [IEF](https://holderbook.com/stocks/IEF/) | $5.2M | 55,000 | 0.4% | 5 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $5.2M | 10,376 | 0.4% | 15 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $4.9M | 47,046 | 0.4% | 18 |
| LINDBLAD EXPEDITIONS HLDGS I | [LIND](https://holderbook.com/stocks/LIND/) | $4.9M | 172,800 | 0.4% | 1 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $4.9M | 4,144 | 0.4% | 4 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $4.8M | 114,447 | 0.4% | 3 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $4.8M | 37,252 | 0.4% | 29 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $4.8M | 33,651 | 0.4% | 8 |
| PUBLIC STORAGE | [PSA](https://holderbook.com/stocks/PSA/) | $4.4M | 13,787 | 0.3% | 12 |
| TERADYNE INC | [TER](https://holderbook.com/stocks/TER/) | $4.3M | 8,887 | 0.3% | 3 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $4.2M | 28,775 | 0.3% | 31 |
| HUNTINGTON BANCSHARES INC | [HBAN](https://holderbook.com/stocks/HBAN/) | $4.2M | 237,710 | 0.3% | 20 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $4.1M | 14,743 | 0.3% | 5 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $4.0M | 19,886 | 0.3% | 4 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $3.8M | 66,056 | 0.3% | 5 |
| DBX ETF TR | [USSG](https://holderbook.com/stocks/USSG/) | $3.7M | 53,800 | 0.3% | 3 |
| KEURIG DR PEPPER INC | [KDP](https://holderbook.com/stocks/KDP/) | $3.6M | 111,119 | 0.3% | 9 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $3.6M | 5,676 | 0.3% | 2 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $3.6M | 6,961 | 0.3% | 14 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $3.6M | 3,571 | 0.3% | 8 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $3.6M | 20,980 | 0.3% | 4 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $3.5M | 44,793 | 0.3% | 31 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $3.4M | 29,319 | 0.3% | 5 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $3.4M | 24,242 | 0.3% | 5 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $3.4M | 16,081 | 0.3% | 4 |
| AMERICA MOVIL SAB DE CV | [AMX](https://holderbook.com/stocks/AMX/) | $3.3M | 128,322 | 0.3% | 4 |
| VISTRA CORP | [VST](https://holderbook.com/stocks/VST/) | $3.2M | 20,229 | 0.2% | 4 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $3.2M | 10,669 | 0.2% | 27 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $3.2M | 52,250 | 0.2% | 19 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $3.1M | 12,941 | 0.2% | 11 |
| ESSEX PPTY TR INC | [ESS](https://holderbook.com/stocks/ESS/) | $3.1M | 10,710 | 0.2% | 2 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $3.1M | 32,305 | 0.2% | 6 |
| HALEON PLC | [HLN](https://holderbook.com/stocks/HLN/) | $3.1M | 330,494 | 0.2% | 16 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $3.0M | 16,775 | 0.2% | 15 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $3.0M | 23,364 | 0.2% | 6 |

## 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 |
|---|---|---|---|---|
| Q2 2026 | +14.0% | +14.8% | -0.8% | 100% |
| Q1 2026 | -5.2% | -4.6% | -0.6% | 100% |
| Q4 2025 | +1.8% | +2.4% | -0.6% | 100% |
| Q3 2025 | +5.9% | +7.8% | -2.0% | 100% |
| Q2 2025 | +13.1% | +10.5% | +2.7% | 100% |
| Q1 2025 | -4.9% | -4.6% | -0.4% | 100% |
| Q4 2024 | +1.8% | +2.1% | -0.3% | 100% |
| Q3 2024 | +4.0% | +5.4% | -1.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.3B | 273 |
| Q1 2026 | $1.1B | 276 |
| Q4 2025 | $1.6B | 288 |
| Q3 2025 | $1.6B | 284 |
| Q2 2025 | $1.4B | 226 |
| Q1 2025 | $1.3B | 176 |
| Q4 2024 | $1.3B | 169 |
| Q3 2024 | $1.3B | 152 |
| Q2 2024 | $1.3B | 159 |
| Q1 2024 | $1.4B | 168 |
| Q4 2023 | $1.3B | 162 |
| Q3 2023 | $1.4B | 176 |