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Carmignac Gestion

Q4 2025 · Filed 2026-02-13
Market Value
$7.4B
+10.5%
Holdings
158
+8
New Purchases
36
Added To
43
Closed
41
Reduced
24
Top 10 Concentration
51.9%
Turnover
48.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 6.95% 3.39% +3.56% $513M
TEAM 2.65% 0.04% +2.60% $196M
CRM 3.61% 1.75% +1.86% $267M
ACN 1.93% 0.54% +1.39% $143M
TW 3.22% 2.09% +1.13% $238M
SQ 3.01% 2.07% +0.94% $222M
NOW 3.60% 2.68% +0.92% $266M
SPGI 6.12% 5.24% +0.87% $452M
CL 1.23% 0.47% +0.77% $91M
NVO 0.69% 0.00% +0.69% $51M
DOCS 1.13% 0.45% +0.68% $84M
SFM 0.57% 0.00% +0.57% $42M
FNV 0.63% 0.08% +0.55% $47M
REGN 0.52% 0.00% +0.52% $39M
NFLX 0.51% 0.00% +0.51% $37M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOGL 5.71% 8.48% -2.77% $422M
META 0.40% 2.96% -2.56% $29M
AMZN 4.93% 6.76% -1.83% $364M
ETN 0.00% 1.21% -1.21% $0
CDNS 0.05% 1.15% -1.10% $4M
LLY 0.03% 1.10% -1.07% $3M
VIPS 1.00% 1.91% -0.91% $74M
MELI 3.85% 4.64% -0.79% $285M
TMO 1.10% 1.79% -0.69% $81M
LIN 0.00% 0.67% -0.67% $0
FIX 0.00% 0.60% -0.60% $0
CLS 0.00% 0.58% -0.58% $0
ITUB 0.69% 1.24% -0.55% $51M
SLB 2.43% 2.95% -0.53% $179M
ORLY 0.00% 0.51% -0.51% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 25 $2.4B 31.9%
Large Cap 74 $4.5B 61.3%
Mid Cap 36 $458M 6.2%
Small Cap 22 $42M 0.6%
Micro Cap 1 $3M 0.0%

Portfolio Analytics

Avg Market Cap
$251.5B
Median Market Cap
$25.5B
Avg P/E
40.0
Median P/E
26.7
Avg Dividend Yield
0.01%
Avg Beta
1.08
# Stocks
158
# ETFs / Funds
0

Top Holdings (158 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 9.17% 3,635,106 $678M $186.51 $35M +186,852 +5.4%
2 MSFT 6.95% 1,061,153 $513M $483.70 $287M +623,662 +142.6%
3 SPGI 6.12% 864,840 $452M $522.64 $101M +144,428 +20.1%
4 GOOGL 5.71% 1,347,106 $422M $313.01 -$146M -986,120 -42.3%
5 AMZN 4.93% 1,577,739 $364M $230.84 -$88M -481,018 -23.4%
6 ABC 4.00% 875,095 $296M $337.76 $22M -751 -0.1%
7 MCK 3.98% 358,535 $294M $820.32 $51M +44,362 +14.1%
8 MELI 3.85% 141,373 $285M $2,014.33 -$26M +8,677 +6.5%
9 CRM 3.61% 1,008,151 $267M $264.91 $150M +513,704 +103.9%
10 NOW 3.60% 1,734,925 $266M $153.20 $87M +1,540,410 +791.9%
11 TW 3.22% 2,214,400 $238M $107.54 $98M +954,600 +75.8%
12 ICE 3.01% 1,375,560 $223M $161.98 $28M +221,400 +19.2%
13 SQ 3.01% 3,417,826 $222M $65.09 $84M +1,501,200 +78.3%
14 TEAM 2.65% 1,206,368 $196M $162.14 $193M +1,188,368 +6602.0%
15 SLB 2.43% 4,669,456 $179M $38.38 -$18M -1,076,644 -18.7%
16 MA 2.31% 299,595 $171M $571.05 $13M +21,183 +7.6%
17 EFX 2.20% 750,015 $163M $217.06 $3M +126,698 +20.3%
18 APH 2.18% 1,194,200 $161M $135.14 -$5M -213,049 -15.1%
19 ANET 1.94% 1,093,784 $143M $131.04 -$3M +91,084 +9.1%
20 ACN 1.93% 532,041 $143M $268.30 $107M +386,487 +265.5%
21 CL 1.23% 1,153,391 $91M $79.05 $60M +762,863 +195.3%
22 VRTX 1.18% 191,571 $87M $453.38 $13M +4,032 +2.1%
23 DOCS 1.13% 1,893,026 $84M $44.28 $53M +1,477,798 +355.9%
24 TMO 1.10% 140,037 $81M $579.53 -$38M -106,555 -43.2%
25 LNTH 1.01% 1,122,000 $75M $66.55 $33M +314,591 +39.0%
26 VIPS 1.00% 4,161,154 $74M $17.71 -$54M -2,357,244 -36.2%
27 SE 0.89% 516,426 $66M $127.61 $15M +232,971 +82.2%
28 ABNB 0.86% 468,370 $64M $135.72 $7M
29 ITUB 0.69% 7,152,585 $51M $7.16 -$32M -4,130,600 -36.6%
30 NVO 0.69% 1,003,300 $51M $50.88 +1,003,300 NEW
31 PG 0.67% 346,492 $50M $143.39 $19M +145,621 +72.5%
32 GTLB 0.67% 1,310,000 $49M $37.53 $19M +640,000 +95.5%
33 AVGO 0.65% 139,080 $48M $346.10 -$18M -60,744 -30.4%
34 FNV 0.63% 225,511 $47M $207.28 $41M +200,376 +797.2%
35 AEM 0.62% 268,511 $46M $169.53 $11M +64,485 +31.6%
36 KEYS 0.59% 213,000 $43M $203.19 $2M -22,100 -9.4%
37 SFM 0.57% 530,000 $42M $79.67 +530,000 NEW
38 REGN 0.52% 49,971 $39M $771.95 +49,971 NEW
39 ALGN 0.52% 246,101 $38M $156.23 $8M +3,193 +1.3%
40 NFLX 0.51% 398,362 $37M $93.76 +398,362 NEW
41 GL 0.50% 265,000 $37M $139.86 $14M +106,000 +66.7%
42 META 0.40% 44,331 $29M $660.09 -$169M -225,168 -83.5%
43 NEM 0.36% 268,134 $27M $99.85 -$3M -82,505 -23.5%
44 VTMX 0.33% 796,215 $24M $30.50 $3M +27,700 +3.6%
45 HTHT 0.30% 469,601 $22M $47.04 -$494K -107,306 -18.6%
46 KMB 0.28% 203,068 $20M $100.89 +203,068 NEW
47 EDU 0.28% 369,289 $20M $55.06 $1M +6,000 +1.6%
48 FCX 0.26% 384,504 $20M $50.79 $913K -90,158 -19.0%
49 KSPI 0.24% 228,970 $18M $78.18 -$3M -21,617 -8.6%
50 LULU 0.21% 74,300 $15M $207.81 -$3M -31,700 -29.9%
51 HD 0.20% 42,046 $14M $344.47 -$2M +2,375 +6.0%
52 BNTX 0.19% 144,087 $14M $95.20 $3M +37,538 +35.2%
53 AGI 0.17% 329,968 $13M $38.58 $5M +113,390 +52.4%
54 CLX 0.17% 122,977 $12M $100.83 +122,977 NEW
55 OC 0.16% 105,800 $12M $111.91 -$184K +20,800 +24.5%
56 GTLS 0.16% 55,842 $12M $206.23 $2M +9,568 +20.7%
57 FYBR 0.15% 290,833 $11M $38.07 $209K
58 CTLP 0.14% 977,158 $10M $10.62 $49K
59 CMA 0.13% 107,873 $9M $86.93 +107,873 NEW
60 NBIX 0.12% 63,600 $9M $141.83 +63,600 NEW
61 EXAS 0.11% 81,354 $8M $101.56 +81,354 NEW
62 AL 0.11% 125,849 $8M $64.23 +125,849 NEW
63 DENN 0.11% 1,285,703 $8M $6.22 +1,285,703 NEW
64 CSGS 0.11% 103,097 $8M $76.69 +103,097 NEW
65 TWLO 0.10% 50,000 $7M $142.24 +50,000 NEW
66 CWAN 0.09% 288,126 $7M $24.12 +288,126 NEW
67 SHCO 0.09% 741,722 $7M $8.96 $82K
68 VRT 0.09% 40,000 $6M $162.01 +40,000 NEW
69 AMWD 0.08% 115,255 $6M $53.90 -$1M
70 INTU 0.08% 9,179 $6M $663.27 -$3M -4,323 -32.0%
71 EA 0.08% 28,740 $6M $204.33 $458K +1,897 +7.1%
72 DAY 0.07% 79,728 $6M $69.16 +79,728 NEW
73 WBD 0.07% 185,955 $5M $28.82 +185,955 NEW
74 PRA 0.07% 217,263 $5M $24.16 $37K
75 KLAC 0.07% 4,000 $5M $1,215.08 -$533K -1,000 -20.0%
76 CSCO 0.06% 58,345 $4M $77.03 $1M +8,731 +17.6%
77 HOLX 0.06% 56,387 $4M $74.49 +56,387 NEW
78 RNAM 0.06% 57,938 $4M $72.13 +57,938 NEW
79 CDTX 0.06% 18,896 $4M $220.89 +18,896 NEW
80 JHG 0.06% 87,299 $4M $47.57 +87,299 NEW
81 CFLT 0.06% 136,922 $4M $30.24 +136,922 NEW
82 AAPL 0.06% 14,979 $4M $271.86 -$2M -7,415 -33.1%
83 COST 0.05% 4,653 $4M $862.34 $83K +408 +9.6%
84 V 0.05% 10,552 $4M $350.71 $98K
85 JPM 0.05% 11,400 $4M $322.22 $717K +2,029 +21.6%
86 CDNS 0.05% 11,586 $4M $313.14 -$73M -206,602 -94.7%
87 VNET 0.05% 394,616 $3M $8.46 -$747K -833 -0.2%
88 NGD 0.04% 379,537 $3M $8.71 +379,537 NEW
89 MAR 0.04% 10,482 $3M $310.24 $770K +952 +10.0%
90 HLT 0.04% 11,045 $3M $287.25 $681K +1,442 +15.0%
91 FOLD 0.04% 194,887 $3M $14.24 +194,887 NEW
92 TXNM 0.04% 47,000 $3M $58.88 +47,000 NEW
93 HI 0.04% 86,224 $3M $31.72 +86,224 NEW
94 KVUE 0.04% 157,574 $3M $17.25 +157,574 NEW
95 CASY 0.04% 4,800 $3M $552.71 +4,800 NEW
96 CIO 0.04% 375,233 $3M $6.99 $11K
97 LLY 0.03% 2,379 $3M $1,074.68 -$71M -94,468 -97.5%
98 TGNA 0.03% 123,716 $2M $19.41 -$114K
99 PTON 0.03% 366,439 $2M $6.16 $2M +326,955 +828.1%
100 YETI 0.03% 49,010 $2M $44.17 $927K +11,707 +31.4%

Options Breakdown

6 Calls $0 Call Value 0 Puts $0 Put Value

Top Calls

SymbolSharesValueStatus
UNH $0 SOLD
AMZN $0 SOLD
NKE $0 SOLD
RKLB $0 SOLD
UPS $0 SOLD
PTON $0 SOLD

New Positions

SymbolValue% Port
NVO $51M 0.69%
SFM $42M 0.57%
REGN $39M 0.52%
NFLX $37M 0.51%
KMB $20M 0.28%
CLX $12M 0.17%
CMA $9M 0.13%
NBIX $9M 0.12%
EXAS $8M 0.11%
AL $8M 0.11%
DENN $8M 0.11%
CSGS $8M 0.11%
TWLO $7M 0.10%
CWAN $7M 0.09%
VRT $6M 0.09%

Sold Out Positions

SymbolValue% Port
SPOT —%
DHR —%
GLOB —%
GRMN —%
CNC —%
ETN —%
SAP —%
CLS —%
CRS —%
TAP —%
ALAB —%
COIN —%
LIN —%
LAUR —%
FSLR —%
View SEC EDGAR Filings for Carmignac Gestion →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms