Pictet Asset Management Holding SA

Pictet Asset Management employs a highly concentrated, growth-oriented strategy, as evidenced by its top 15 holdings accounting for approximately 27% of the portfolio, with NVIDIA as the largest single position at 4.7%. The portfolio is heavily skewed toward Technology at 32.6%, followed by Industrials and Healthcare at 11.9% and 11.3%, respectively, indicating a structural overweight in secular growth themes. The inclusion of top holdings such as Microsoft, Alphabet, Broadcom, and Apple alongside KLA and Applied Materials reveals a strong conviction in semiconductor and large-cap tech leadership. This positioning suggests a philosophy of backing dominant, scalable companies with competitive moats, while the presence of UBS Group and NextEra Energy adds measured diversification into financials and utilities. Despite assets under management fluctuating between $87.3B and $103.8B over the trailing period, the manager maintains a consistent, conviction-driven approach across roughly 2,000 positions.