Union Bancaire Privee, an independent Swiss bank and wealth management company, reported a significant purchase of Cisco Systems(CSCO 1.95%) shares, adding 1,012,804 shares in trades during Q3 2025, estimated at ~$69.04 million, according to an October 7, 2025 SEC filing.
What happened
According to a recent SEC filing dated October 7, 2025, Union Bancaire Privee increased its stake in Cisco Systems by acquiring 1,012,804 additional shares during the quarter. The estimated value of these trades is $69.04 million, based on the average unadjusted closing price for the quarter. The fund now holds 1,052,813 shares worth $116.93 million as of September 30, 2025.
What else to know
The purchase lifts Cisco’s weight to 1.66% of Union Bancaire Privee’s $7.04 billion reportable U.S. equity AUM as of September 30, 2025.
Top holdings after the filing:
- NASDAQ:MSFT: $1.44 billion (20.6% of AUM) as of the quarter ended September 30, 2025
- NASDAQ:GOOGL: $377.65 million (5.4% of AUM) as of September 30, 2025
- NASDAQ:AMZN: $255.57 million (3.7% of AUM) as of the quarter ended September 30, 2025
- NASDAQ:NVDA: $228.95 million (3.3% of AUM) as of September 30, 2025
- NYSE:JPM: $192.91 million (2.8% of AUM) as of September 30, 2025
As of October 6, 2025, Cisco shares were priced at $68.91, up 31.2% in the year ending October 6, 2025.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $56.65 billion |
| Net Income (TTM) | $10.45 billion |
| Dividend Yield | 2.37% |
| Price (as of market close 2025-10-06) | $68.91 |
Company Snapshot
Provides networking hardware, software, security solutions, collaboration tools (including Webex), and observability products.
Generates revenue through direct sales and a global network of resellers and distributors, providing both product sales and recurring service/support contracts.
Serves enterprises of all sizes, public sector institutions, governments, and service providers worldwide.
Cisco Systems, Inc. is a global leader in networking and communications technology, offering a diversified product portfolio along with a range of services and support.
Foolish take
When I think of Cisco, one word comes to mind: Average. And after examining the stock's performance history, my suspicions are confirmed.
For example, over the last five years, Cisco has generated a total return of 103%. That equates to a compound annual growth rate (CAGR) of 15.2%. While that return is nothing to sneeze at, it is very similar to the S&P 500's return over the same period. The benchmark index has generated a total return of 111.6%, with a CAGR of 16.2% -- besting Cisco.
And this seems about right. After all, Cisco's primary business -- networking and communications -- is an average industry. While networking remains a key infrastructure component for the tech sector, all the vim and vigor of tech sector today lies in more innovative areas such as semiconductors, AI applications, or quantum computing.
This statis is apparent in Cisco's fundamentals. The company has averaged year-over-year revenue growth of about 1.7% dating back to 2015, which is far from exceptional.
Nevertheless, Cisco remains an essential part of the tech industry. It boasts a decent dividend yield of 2.4%, and its price-to-earnings (P/E) ratio of 27x might tempt investors looking for a more affordable stock within the sector.
For those reasons, investors may want to consider the stock. However, for those seeking growth or outperformance, it may be best to look elsewhere.
Glossary
AUM: Assets Under Management – The total market value of assets a fund or institution manages on behalf of clients.
Reportable AUM: The portion of a fund’s assets required to be disclosed in regulatory filings, often focused on specific asset classes or regions.
13F filing: A quarterly report required by the SEC from institutional investment managers disclosing their U.S. equity holdings.
Stake: The amount or percentage of ownership an investor or fund holds in a particular company.
Top holdings: The largest investments within a fund’s portfolio, typically ranked by market value.
Dividend Yield: Annual dividends paid by a company divided by its share price, shown as a percentage.
Resellers: Companies or individuals that buy products from manufacturers to sell them to end customers, often adding value or services.
Distributors: Intermediaries that purchase products from manufacturers and supply them to resellers or retailers.
Service/support contracts: Agreements providing ongoing maintenance, assistance, or updates for products after the initial sale.
TTM: The 12-month period ending with the most recent quarterly report.
Observability products: Tools that help monitor, analyze, and troubleshoot the performance and health of IT systems and applications.
