Carmignac Gestion
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
Download these holdings as CSV
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| NVIDIA CORPORATION | NVDA | $959.4M | 4,795,726 | +0.22pp | 29q | +5.0%+$45.9M | |
| BROADCOM INC | AVGO | $511.5M | 1,354,155 | +4.06pp | 9q | +150.0%+$306.9M | |
| CENCORA INC | COR | $494.5M | 1,747,363 | +1.10pp | 9q | +58.7%+$182.8M | |
| MCKESSON CORP | MCK | $473.7M | 626,904 | +1.92pp | 8q | +97.3%+$233.6M | |
| ALPHABET INC | GOOGL | $412.5M | 1,154,334 | -0.59pp | 31q | -14.2%-$68.3M | |
| TRADEWEB MKTS INC | TW | $386.4M | 3,876,800 | +0.88pp | 17q | +69.6%+$158.5M | |
| MASTERCARD INCORPORATED | MA | $376.2M | 732,598 | +1.96pp | 31q | +92.6%+$180.8M | |
| S&P GLOBAL INC | SPGI | $374.3M | 919,140 | -1.38pp | 18q | -3.8%-$14.6M | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $352.5M | 704,407 | +1.57pp | 2q | +72.8%+$148.5M | |
| nan | MELI | $322.6M | 190,098 | -2.44pp | 31q | -23.8%-$100.7M | |
| INTERCONTINENTAL EXCHANGE IN | ICE | $254.9M | 2,070,226 | +0.53pp | 31q | +80.0%+$113.3M | |
| MICROSOFT CORP | MSFT | $231.9M | 621,773 | +1.79pp | 30q | +189.3%+$151.7M | |
| AMAZON COM INC | AMZN | $200.5M | 841,266 | -1.91pp | 27q | -40.3%-$135.5M | |
| AMPHENOL CORP | APH | $171.0M | 969,763 | +0.92pp | 8q | +44.9%+$53.0M | |
| LANTHEUS HLDGS INC | LNTH | $148.7M | 1,340,100 | +0.38pp | 9q | +0.9%+$1.3M | |
| ATLASSIAN CORPORATION | TEAM | $122.7M | 1,577,000 | -1.14pp | 4q | -39.4%-$79.9M | |
| REGENERON PHARMACEUTICALS | REGN | $113.8M | 182,507 | +0.09pp | 3q | +56.6%+$41.1M | |
| ZOETIS INC | ZTS | $113.2M | 1,575,700 | - | new | NEW | |
| EQUIFAX INC | EFX | $112.8M | 710,685 | +0.46pp | 8q | +94.9%+$54.9M | |
| PARKER HANNIFIN CORP | PH | $101.0M | 103,265 | +0.82pp | 2q | +191.4%+$66.3M | |
| ITAU UNIBANCO HLDG S A | ITUB | $99.8M | 12,219,314 | +0.18pp | 11q | +41.6%+$29.3M | |
| BLOCK INC | XYZ | $97.8M | 1,287,026 | -1.72pp | 15q | -60.2%-$148.0M | |
| AIRBNB INC | ABNB | $94.0M | 656,570 | -0.06pp | 5q | HELD | |
| VERTEX PHARMACEUTICALS INC | VRTX | $81.0M | 163,045 | +0.03pp | 9q | +10.0%+$7.4M | |
| CELESTICA INC | CLS | $70.5M | 193,200 | - | new | NEW | |
| VIPSHOP HLDGS LTD | VIPS | $65.2M | 4,920,324 | -0.24pp | 13q | +9.8%+$5.8M | |
| SEA LTD | SE | $62.3M | 651,818 | flat | 29q | +2.2%+$1.4M | |
| META PLATFORMS INC | META | $58.3M | 103,560 | -0.25pp | 17q | -9.5%-$6.1M | |
| ALIGN TECHNOLOGY INC | ALGN | $53.5M | 316,832 | +0.10pp | 18q | +40.7%+$15.5M | |
| DOXIMITY INC | DOCS | $48.9M | 2,355,900 | -0.91pp | 9q | -45.4%-$40.6M | |
| GITLAB INC | GTLB | $45.1M | 1,475,612 | +0.27pp | 4q | +55.8%+$16.1M | |
| SLB LIMITED | SLB | $39.3M | 846,192 | -0.24pp | 4q | -10.6%-$4.6M | |
| VNET GROUP INC | VNET | $38.1M | 4,760,599 | +0.45pp | 6q | +1375.1%+$35.5M | |
| SERVICENOW INC | NOW | $36.9M | 371,803 | -1.95pp | 17q | -75.4%-$113.4M | |
| NEUROCRINE BIOSCIENCES INC | NBIX | $36.1M | 214,100 | +0.09pp | 3q | +15.1%+$4.7M | |
| ROYALTY PHARMA PLC | RPRX | $35.4M | 630,700 | -0.01pp | 2q | HELD | |
| SPROUTS FMRS MKT INC | SFM | $31.7M | 375,200 | -0.42pp | 3q | -46.3%-$27.3M | |
| SPACE EXPLORATION TECHN CORP | SPCX | $28.8M | 168,723 | - | new | NEW | |
| VESTA REAL ESTATE CORP | VTMX | $28.5M | 829,302 | -0.05pp | 12q | +0.8%+$235.2K | |
| BBB Foods Inc | TBBB | $27.9M | 670,106 | +0.30pp | 2q | +526.5%+$23.5M | |
| IONIS PHARMACEUTICALS INC | IONS | $25.5M | 321,000 | +0.27pp | 2q | +505.7%+$21.2M | |
| TENCENT MUSIC ENTMT GROUP | TME | $24.3M | 2,903,426 | -0.10pp | 11q | +0.8%+$186.1K | |
| KASPI KZ JSC | KSPI | $19.6M | 226,666 | flat | 9q | +1.0%+$185.3K | |
| GLOBE LIFE INC | GL | $19.1M | 107,100 | -0.12pp | 7q | -37.0%-$11.2M | |
| COLGATE PALMOLIVE CO | CL | $18.3M | 199,143 | -0.07pp | 4q | -15.7%-$3.4M | |
| AGNICO EAGLE MINES LTD | AEM | $17.6M | 113,584 | - | new | NEW | |
| FRANCO NEV CORP | FNV | $17.5M | 83,723 | - | new | NEW | |
| CHART INDS INC | GTLS | $17.3M | 82,944 | -0.04pp | 4q | HELD | |
| WEBSTER FINL CORP | WBS | $17.0M | 222,221 | +0.01pp | 2q | +14.5%+$2.2M | |
| NEW ORIENTAL ED & TECHNOLOGY | EDU | $16.9M | 368,392 | -0.10pp | 16q | +0.8%+$138.1K | |
| ARISTA NETWORKS INC | ANET | $12.3M | 72,457 | -1.25pp | 7q | -90.3%-$114.3M | |
| PROCTER & GAMBLE CO | PG | $11.3M | 76,813 | -0.05pp | 19q | -12.9%-$1.7M | |
| ELECTRONIC ARTS INC | EA | $10.0M | 48,934 | -0.02pp | 4q | HELD | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $10.0M | 20,956 | +0.12pp | 31q | +1427.4%+$9.4M | |
| HOME DEPOT INC | HD | $9.3M | 26,374 | -0.03pp | 16q | -14.2%-$1.5M | |
| CHURCH & DWIGHT CO INC | CHD | $8.8M | 90,997 | -0.02pp | 2q | -6.3%-$591.4K | |
| SILICON LABORATORIES INC | SLAB | $8.8M | 40,340 | +0.03pp | 2q | +44.9%+$2.7M | |
| LIVERAMP HLDGS INC | RAMP | $8.8M | 234,126 | - | new | NEW | |
| BIO TECHNE CORP | TECH | $8.8M | 124,530 | - | new | NEW | |
| KENVUE INC | KVUE | $8.0M | 420,432 | +0.06pp | 3q | +166.8%+$5.0M | |
| THERMO FISHER SCIENTIFIC INC | TMO | $7.9M | 15,727 | -0.02pp | 29q | -0.6%-$50.8K | |
| BIONTECH SE | BNTX | $7.4M | 79,875 | -0.06pp | 9q | -29.1%-$3.1M | |
| WARNER BROS DISCOVERY INC | WBD | $7.4M | 276,857 | flat | 3q | +17.1%+$1.1M | |
| JANUS HENDERSON GROUP PLC | JHG | $7.1M | 137,300 | -0.02pp | 3q | HELD | |
| ORGANON & CO | OGN | $6.1M | 448,606 | - | new | NEW | |
| APOGEE THERAPEUTICS INC | APGE | $5.9M | 44,475 | - | new | NEW | |
| NUVALENT INC | NUVL | $5.9M | 47,657 | - | new | NEW | |
| DIGITALBRIDGE GROUP INC | DBRG | $5.8M | 369,415 | -0.01pp | 2q | HELD | |
| ESPERION THERAPEUTICS INC NECOM | ESPR | $5.2M | 1,659,399 | - | new | NEW | |
| LEGGETT & PLATT INC | LEG | $4.8M | 410,119 | - | new | NEW | |
| PAYONEER GLOBAL INC | PAYO | $3.0M | 426,354 | - | new | NEW | |
| CAESARS ENTERTAINMENT INC NE | CZR | $3.0M | 100,508 | - | new | NEW | |
| CATALYST PHARMACEUTICALS INC | CPRX | $3.0M | 95,603 | - | new | NEW | |
| OPEN LENDING CORP | LPRO | $3.0M | 960,179 | - | new | NEW | |
| GLOBAL BUSINESS TRAVEL GROUP | GBTG | $3.0M | 316,463 | - | new | NEW | |
| TALKSPACE INC | TALK | $2.9M | 556,771 | +0.03pp | 2q | +279.7%+$2.1M | |
| SELECT MED HLDGS CORP | SEM | $2.9M | 174,516 | -0.01pp | 2q | HELD | |
| TXNM ENERGY INC | TXNM | $2.7M | 47,000 | -0.01pp | 3q | HELD | |
| OLAPLEX HLDGS INC | OLPX | $2.6M | 1,252,648 | +0.01pp | 2q | +46.8%+$818.9K | |
| AVANOS MED INC | AVNS | $2.2M | 89,418 | - | new | NEW | |
| MAKEMYTRIP LIMITED MAURITIUS | MMYT | $2.2M | 40,452 | +0.01pp | 3q | +32.9%+$534.2K | |
| INTERNATIONAL MNY EXPRESS IN | IMXI | $2.0M | 138,650 | -0.01pp | 4q | HELD | |
| CRH PLC | CRH | $1.8M | 17,183 | - | new | NEW | |
| QFIN HOLDINGS INC | QFIN | $617.9K | 39,081 | flat | 4q | HELD | |
| VISA INC | V | $590.5K | 1,721 | flat | 21q | -26.1%-$208.3K | |
| DYNEX CAP INC | DX | $587.9K | 44,846 | - | new | NEW | |
| AGNC INVT CORP | AGNC | $544.2K | 49,928 | - | new | NEW | |
| ANNALY CAPITAL MANAGEMENT IN | NLY | $528.0K | 23,612 | - | new | NEW | |
| BRISTOL-MYERS SQUIBB CO | BMY | $519.4K | 9,014 | - | new | NEW | |
| EHANG HLDGS LTD | EH | $504.3K | 76,985 | flat | 22q | HELD | |
| GLOBALFOUNDRIES INC | GFS | $471.3K | 5,719 | - | new | NEW | |
| PFIZER INC | PFE | $469.0K | 19,475 | - | new | NEW | |
| APPLIED MATLS INC | AMAT | $167.7K | 232 | - | new | NEW | |
| CLEAR CHANNEL OUTDOOR HLDGS | CCO | $141.5K | 58,471 | flat | 2q | HELD | |
| BOSTON SCIENTIFIC CORP | BSX | $0 | none filed | - | new | NEW | |
| JPMorgan Chase & Co | JPM | $0 | none filed | - | new | NEW | |
| MICROSOFT CORP | MSFT | $0 | none filed | - | new | NEW | |
| NETFLIX INC. | NFLX | $0 | none filed | flat | 3q | -100.0% | |
| ANGLOGOLD ASHANTI PLC | AU | $0 | none filed | - | new | NEW | |
| BITDEER TECHNOLOGIES GROUP | BTDR | $0 | none filed | - | new | NEW |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Semiconductors & Electronics | $1.7B | 22.5% |
| Business Services | $1.4B | 18.0% |
| Software & IT Services | $1.1B | 14.7% |
| Wholesale & Distribution | $968.1M | 12.6% |
| Capital Markets | $641.2M | 8.3% |
| Biotech & Pharma | $576.9M | 7.5% |
| Insurance | $371.6M | 4.8% |
| Retail & Consumer | $334.6M | 4.3% |
| Other sectors | $457.5M | 5.9% |
| Not classified | $106.2M | 1.4% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +6.5% | +14.8% | -8.4% | 98% |
| Q1 2026 | -10.3% | -4.6% | -5.7% | 99% |
| Q4 2025 | +2.9% | +2.4% | +0.5% | 99% |
| Q3 2025 | +8.3% | +7.8% | +0.5% | 99% |
| Q2 2025 | +15.8% | +10.5% | +5.4% | 99% |
| Q1 2025 | -1.2% | -4.6% | +3.3% | 100% |
| Q4 2024 | -0.7% | +2.1% | -2.9% | 99% |
| Q3 2024 | +4.9% | +5.4% | -0.6% | 100% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $7.7B | 100 | 31 | 36 | 21 | 41 | 60.5% | 44 |
| Q1 2026 | $6.5B | 110 | 32 | 31 | 39 | 41 | 55.2% | 76 |
| Q4 2025 | $7.4B | 119 | 38 | 43 | 22 | 49 | 51.9% | 44 |
| Q3 2025 | $6.7B | 130 | 34 | 35 | 48 | 31 | 51.6% | 44 |
| Q2 2025 | $6.5B | 127 | 26 | 42 | 48 | 51 | 51.7% | 44 |
| Q1 2025 | $6.1B | 152 | 29 | 38 | 62 | 26 | 48.7% | 44 |
| Q4 2024 | $6.3B | 149 | 25 | 47 | 54 | 43 | 49.0% | 44 |
| Q3 2024 | $6.0B | 167 | 30 | 46 | 62 | 21 | 47.2% | 44 |
| Q2 2024 | $5.8B | 158 | 39 | 41 | 51 | 22 | 53.0% | 44 |
| Q1 2024 | $6.3B | 141 | 24 | 41 | 56 | 27 | 51.9% | 44 |
| Q4 2023 | $6.0B | 144 | 26 | 54 | 46 | 26 | 50.7% | 44 |
| Q3 2023 | $5.4B | 144 | 28 | 43 | 53 | 42 | 52.3% | 60 |
| Q2 2023 | $5.8B | 158 | 45 | 41 | 48 | 21 | 48.2% | 42 |
| Q1 2023 | $6.0B | 134 | 17 | 62 | 45 | 18 | 42.1% | 42 |
| Q4 2022 | $5.5B | 135 | 27 | 59 | 32 | 19 | 44.5% | 44 |
| Q3 2022 | $4.7B | 127 | 24 | 41 | 53 | 15 | 49.3% | 41 |
| Q2 2022 | $4.7B | 118 | 21 | 30 | 50 | 16 | 50.3% | 43 |
| Q1 2022 | $6.2B | 113 | 17 | 34 | 47 | 26 | 49.7% | 43 |
| Q4 2021 | $7.1B | 122 | 21 | 45 | 39 | 17 | 51.3% | 42 |
| Q3 2021 | $8.0B | 118 | 15 | 51 | 29 | 23 | 46.3% | 43 |
| Q2 2021 | $8.6B | 126 | 22 | 53 | 41 | 25 | 46.6% | 44 |
| Q1 2021 | $8.7B | 129 | 23 | 54 | 39 | 32 | 42.4% | 44 |
| Q4 2020 | $9.6B | 138 | 25 | 44 | 48 | 18 | 39.4% | 43 |
| Q3 2020 | $8.5B | 131 | 26 | 44 | 38 | 17 | 40.6% | 44 |
| Q2 2020 | $7.2B | 122 | 30 | 44 | 41 | 36 | 44.5% | 44 |
| Q1 2020 | $5.9B | 128 | 20 | 45 | 47 | 17 | 43.4% | 44 |
| Q4 2019 | $7.5B | 125 | 14 | 47 | 44 | 19 | 44.5% | 44 |
| Q3 2019 | $7.9B | 130 | 17 | 45 | 46 | 11 | 41.3% | 44 |
| Q2 2019 | $8.0B | 124 | 44 | 19 | 48 | 17 | 43.6% | 44 |
| Q1 2019 | $8.6B | 97 | 24 | 25 | 37 | 10 | 41.2% | 44 |
| Q4 2018 | $6.6B | 83 | 0 | 0 | 0 | 0 | 44.8% | 46 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.