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GAM

Generali Asset Management Portfolio holdings

AUM $4.79B
1-Year Est. Return 26.21%
This Fund
S&P 500
This Quarter Est. Return
+14.29%
1 Year Est. Return
+26.21%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$4.39B
AUM Growth
+$330M
Cap. Flow
-$99.8M
Cap. Flow %
-2.27%
Top 10 Hldgs %
29.9%
Holding
527
New
33
Increased
198
Reduced
225
Closed
29

Top Buys

1
MSDL icon
Morgan Stanley Direct Lending Fund
MSDL
+$17M
2
SPOT icon
Spotify
SPOT
+$14M
3
GSBD icon
Goldman Sachs BDC
GSBD
+$12.5M
4
UBS icon
UBS Group
UBS
+$12.3M
5
OCSL icon
Oaktree Specialty Lending
OCSL
+$11.3M

Top Sells

1
AEM icon
Agnico Eagle Mines
AEM
+$21.2M
2
ARCC icon
Ares Capital
ARCC
+$18.5M
3
MSFT icon
Microsoft
MSFT
+$17M
4
WPM icon
Wheaton Precious Metals
WPM
+$16M
5
NVDA icon
NVIDIA
NVDA
+$15M

Sector Composition

1 Technology 29.93%
2 Financials 23.9%
3 Consumer Discretionary 9.57%
4 Communication Services 8.72%
5 Healthcare 7.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVDA icon
1
NVIDIA
NVDA
$4.91T
$330M 7.52%
2,088,317
-119,280
-5% -$15M
MSFT icon
2
Microsoft
MSFT
$2.93T
$296M 6.75%
595,117
-39,078
-6% -$17M
AAPL icon
3
Apple
AAPL
$4.9T
$128M 2.91%
621,455
-66,333
-10% -$13.4M
ARCC icon
4
Ares Capital
ARCC
$13.8B
$111M 2.53%
5,052,119
-867,692
-15% -$18.5M
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$4.23T
$86.9M 1.98%
493,173
-70,930
-13% -$11.6M
AMZN icon
6
Amazon
AMZN
$2.66T
$79.7M 1.82%
363,368
-8,506
-2% -$1.68M
GOOG icon
7
Alphabet (Google) Class C
GOOG
$4.22T
$73M 1.66%
411,376
-18,607
-4% -$3.07M
TSLA icon
8
Tesla
TSLA
$1.43T
$73M 1.66%
229,660
+1,611
+0.7% +$485K
AVGO icon
9
Broadcom
AVGO
$1.76T
$71.7M 1.63%
260,002
-11,707
-4% -$2.54M
OBDC icon
10
Blue Owl Capital
OBDC
$5.45B
$62.8M 1.43%
4,377,807
+90,878
+2% +$1.29M
BXSL icon
11
Blackstone Secured Lending
BXSL
$5.54B
$61.9M 1.41%
2,011,704
+39,300
+2% +$1.2M
META icon
12
Meta Platforms (Facebook)
META
$1.64T
$60.3M 1.37%
81,691
-5,918
-7% -$3.66M
AEM icon
13
Agnico Eagle Mines
AEM
$68.5B
$59.5M 1.36%
442,721
-182,433
-29% -$21.2M
LLY icon
14
Eli Lilly
LLY
$1.05T
$52.8M 1.2%
67,722
-2,947
-4% -$2.29M
UBS icon
15
UBS Group
UBS
$173B
$52.5M 1.2%
1,957,087
+396,741
+25% +$12.3M
JPM icon
16
JPMorgan Chase
JPM
$907B
$52.1M 1.19%
179,815
-40,331
-18% -$10.3M
FSK icon
17
FS KKR Capital
FSK
$3.06B
$51.6M 1.18%
2,485,265
+442,374
+22% +$9.01M
V icon
18
Visa
V
$682B
$50.4M 1.15%
141,885
+1,197
+0.9% +$417K
NEM icon
19
Newmont
NEM
$95.8B
$46.8M 1.07%
803,639
-243,754
-23% -$13M
WPM icon
20
Wheaton Precious Metals
WPM
$47.3B
$44.3M 1.01%
451,019
-189,556
-30% -$16M
MA icon
21
Mastercard
MA
$480B
$44M 1%
78,213
+2,926
+4% +$1.62M
STLA icon
22
Stellantis
STLA
$16.8B
$39.5M 0.9%
4,640,832
+209,595
+5% +$2.07M
SPOT icon
23
Spotify
SPOT
$98.3B
$39M 0.89%
51,969
+21,827
+72% +$14M
GSBD icon
24
Goldman Sachs BDC
GSBD
$994M
$37.1M 0.84%
3,294,022
+1,131,403
+52% +$12.5M
GBDC icon
25
Golub Capital BDC
GBDC
$3.4B
$36.8M 0.84%
2,512,705
+712,705
+40% +$10.4M
1
2 3 4 5

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CA
Commerzbank Aktiengesellschaft Frankfurt, Germany $4.78B AUM 25.31% 1-Year Est. Return
PTC
Provident Trust Company Waukesha, Wisconsin $4.78B AUM 23.38% 1-Year Est. Return
JSTA
Japan Science & Technology Agency Tokyo, Japan $4.81B AUM 4.62% 1-Year Est. Return
MP
MFN Partners Boston, Massachusetts $4.77B AUM 72.29% 1-Year Est. Return
WAM
WT Asset Management Hong Kong $4.77B AUM 334.05% 1-Year Est. Return
MF
Milford Funds Auckland $4.77B AUM
TPCW
TD Private Client Wealth New York $4.82B AUM 15.21% 1-Year Est. Return
IA
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Generali Asset Management's Q2 2025 Portfolio in Review

As of Q2 2025, Generali Asset Management held 527 positions worth $4.39B, up 8.1% from $4.06B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Generali Asset Management's Q2 2025 filing shows 33 new, 198 increased, 225 reduced and 29 closed positions. Its largest new stake was Amrize Ltd: 99,353 shares worth $3.93M. The largest sale was Agnico Eagle Mines, an estimated $21.2M.

By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 28% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Generali Asset Management's largest Q2 2025 buy was Amrize Ltd: 99,353 shares worth $3.93M.
  • Generali Asset Management added most to Morgan Stanley Direct Lending Fund in Q2 2025, an estimated $17M increase.
  • Generali Asset Management's biggest Q2 2025 reduction was Agnico Eagle Mines, cutting an estimated $21.2M.
  • Generali Asset Management fully exited Discover Financial Services in Q2 2025, selling an estimated $4.74M.
  • Generali Asset Management's ten largest holdings make up 30% of its $4.39B portfolio in Q2 2025.
  • Generali Asset Management opened 33 new positions and closed 29 in Q2 2025.
  • Generali Asset Management's portfolio value rose 8.1% quarter-over-quarter to $4.39B.

Based on Generali Asset Management's 13F filing for Q2 2025, filed 28 Jul 2025.