SEB Expands Portfolio
SEB Asset Management Acquires Major New Stakes in Schwab, IBM, Chubb, and Visa During Q1
Anonymous
Key Points
1
SEB Asset Management AB disclosed a new stake in The Charles Schwab Corporation in Q1, acquiring 464,096 shares valued at about $43.6 million, while Schwab also attracted a new stake from Norges Bank in Q4 worth about $1.99 billion and institutional investors collectively own about 84.38% of the stock.
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SEB bought 519,939 shares of Chubb Limited for about $169.5 million, making it roughly 0.7% of SEB’s portfolio and the insurer its 24th-largest holding.
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SEB purchased 483,436 shares of Newmont Corporation for about $52.3 million, adding exposure to basic materials; in related activity, insider David John Thornton sold 2,296 Newmont shares on May 1 at about $110.11 per share.
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SEB acquired 262,637 shares of IBM for about $63.66 million; IBM’s stock is heavily institutional-owned (about 58.96%), with Norges Bank having opened a new IBM position in the fourth quarter and other large funds expanding stakes.
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SEB bought 599,611 shares of Visa Inc. for about $181.23 million, expanding its payments exposure; Visa also announced the launch of its Stablecoin Platform, an enterprise tool for banks.
SEB Asset Management AB made a sweeping entry into U.S. equities in the first quarter, snapping up stakes across five major companies worth a combined roughly $510 million. The Swedish fund's biggest bet was on Visa Inc., where it bought 599,611 shares for about $181.2 million, according to Watchlist News.
The purchases span financials, technology, insurance, mining, and payments — a sign of SEB's broad, cross-sector strategy as institutional investors reshuffle portfolios heading into mid-2025.
Visa and Schwab Lead SEB's Biggest New Bets
Visa was SEB's largest single purchase by dollar value. The fund bought 599,611 shares for about $181.2 million, according to Watchlist News. Visa has also been making news on its own: the company just launched a new Stablecoin Platform, an enterprise tool that lets banks issue and manage digital currencies.
SEB also moved into Charles Schwab, buying 464,096 shares for about $43.6 million. Schwab is a popular pick among big funds. Norges Bank, Norway's sovereign wealth fund, opened its own Schwab position in the fourth quarter, worth about $1.99 billion. Institutional investors now own about 84.38% of Schwab's stock, per Watchlist News.
Chubb Becomes SEB's 24th-Largest Holding Overnight
SEB's purchase of 519,939 Chubb shares for about $169.5 million instantly made the insurer one of its top holdings. The stake accounts for roughly 0.7% of SEB's total portfolio and slots Chubb in at number 24 on the fund's holdings list, according to Watchlist News.
Chubb is one of the world's largest property and casualty insurers. SEB's move signals confidence in the sector at a time when many large funds are reviewing their financial-sector exposure.
IBM and Newmont Round Out a Tech and Mining Push
SEB bought 262,637 shares of IBM for about $63.7 million. IBM is already heavily owned by institutions — about 58.96% of its shares are held by large funds. Norges Bank also opened a fresh IBM position last quarter, and other big funds have been growing their stakes, per Watchlist News.
On the materials side, SEB picked up 483,436 shares of Newmont Corporation for about $52.3 million. Newmont is the world's largest gold miner. Around the same time, company insider David John Thornton sold 2,296 Newmont shares on May 1 at about $110.11 each, according to Watchlist News.
SEB's Q1 Buying Spree Goes Well Beyond These Five Names
The Schwab, Chubb, Newmont, IBM, and Visa stakes are just part of a larger Q1 buying wave from SEB. The fund also picked up 1,277,386 shares of Cisco for about $99.1 million, 809,003 shares of Wells Fargo, and 148,254 shares of Hilton Worldwide, according to Watchlist News.
It also bought 44.27 million dollars' worth of Freeport-McMoRan, a major copper miner. Taken together, SEB's Q1 moves show a fund building broad exposure across the U.S. economy — from hotel rooms to gold mines to credit card networks.
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