As usual, Zurich Insurance Group published its US stock portfolio in the fourth quarter of 2025. The Swiss company invested in the last quarter of the year.
Institutional investors with an investment volume of more than $100 million are required to report their stock portfolios to the US Securities and Exchange Commission on a quarterly basis using Form 13F. This also includes the US holdings of Zurich Insurance Group, which had a total value of around $14.41 billion as of December 31, 2025. In the fourth quarter there were numerous reshuffles within the top positions.
The following ranking shows the insurer’s ten largest US equity positions – ordered by their percentage share of the overall portfolio.
Editorial team finanzen.net
11th place: The ranking
The US Securities and Exchange Commission (SEC) requires institutional investors with over $100 million in assets under management to disclose their stock holdings quarterly on Form 13F. This also includes the US investments of the Zurich Insurance Group, which reached a volume of around $14.41 billion in the fourth quarter of 2025.
The following ranking shows the insurer’s ten largest US positions – ordered by their percentage share of the overall portfolio. The cut-off date for the data is December 31, 2025.
Source: sec.gov, Image: Jonathan Weiss / Shutterstock.com
10th place: Visa
Zurich’s top 10 investments open with the US technology company Visa. In the last quarter, 139,824 shares were purchased. The investment now reached tenth place with a total of 636,484 shares held, after not being in the top ten in the previous quarter. As of the reporting date, the value of this position was $223.22 million, which corresponds to 1.55 percent of the total portfolio.
Source: sec.gov, Image: Olga Kolos / Shutterstock.com
9th place: Eli Lilly
Eli Lilly was also able to climb into the top ten and took ninth place in the ranking. Zurich purchased 60,576 papers here. The US pharmaceutical company’s now 235,134 shares had a value of $252.69 million on December 31, 2025, giving it a portfolio share of 1.75 percent.
Source: sec.gov, Image: Jonathan Weiss / Shutterstock.com
8th place: Tesla
Zurich’s investment in the US electric car manufacturer Tesla was able to defend eighth place. However, Zurich sold 16,631 shares here in the reporting period. The now 600,415 papers had a value of 270.02 million US dollars as of the reporting date, which corresponds to a depot share of 1.87 percent.
Source: sec.gov, Image: Ken Wolter / Shutterstock.com
7th place: Meta Platforms
Zurich’s stake in Facebook parent Meta slipped from fifth to seventh place in the last quarter. Here the portfolio was reduced by 203,984 shares. The now 462,732 papers have a market value of $305.44 million and a portfolio share of 2.12 percent.
Source: sec.gov, Image: rafapress / Shutterstock.com
6th place: Broadcom
Broadcom was able to work its way up from seventh to sixth place in Q4. Zurich bought 56,637 shares here. As of the reporting date, the 969,395 papers had a value of $335.51 million and a portfolio share of 2.33 percent.
Source: sec.gov, Image: Ken Wolter / Shutterstock.com
5th place: Amazon
Amazon also moved up one place – even though Zurich sold 32,257 shares in the fourth quarter. The insurer thus reduced the investment to 2,021,191 papers. With a value of $466.53 million as of December 31, the holding had a deposit share of 3.24 percent.
Source: sec.gov, Image: Ioan Panaite / Shutterstock.com
4th place: Microsoft
Microsoft slipped from third to fourth place. Here Zurich sold 104,864 shares. The remaining 1,509,172 papers made it to a portfolio share of 5.06 percent with a value of 729.87 million US dollars.
Source: sec.gov, Image: Volodymyr Kyrylyuk / Shutterstock.com
3rd place: Alphabet A
Google parent Alphabet made it from fourth to third place with 2,367,115 A shares and a portfolio share of 5.14 percent – even though Zurich also parted with 468,880 papers. As of the reporting date, the investment had a market value of $740.91 million.
Source: sec.gov, Image: Fenixx666 / Shutterstock.com
2nd place: Apple
The Apple holding was able to defend second place in the fourth quarter. Here, however, Zurich sold 156,275 shares, thereby reducing its investment to 3,346,141 shares. With a value of 909.68 million US dollars, this corresponded to a depot share of 6.31 percent.
Source: sec.gov, Image: Bocman1973 / Shutterstock.com
1st place: NVIDIA
The NVIDIA holding defended first place in the fourth quarter – even though Zurich sold 232,719 shares of the tech giant during the reporting period. The investment shrank to a total of 5,569,149 shares. With a value of 1.04 billion US dollars, NVIDIA managed a portfolio share of 7.21 percent.
Source: sec.gov, Image: Casimiro PT / Shutterstock.com
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