CG

Carmignac Gestion Portfolio holdings

AUM $7.71B Turnover 49.25%
1-Year Est. Return 4.02%
This Fund
S&P 500
This Quarter Est. Return
+5.07%
1 Year Est. Return
+4.02%
3 Year Est. Return
+85.13%
5 Year Est. Return
+112.24%
10 Year Est. Return
+570.29%
AUM
$7.71B
AUM Growth
+$1.2B
Cap. Flow
+$977M
Cap. Flow %
12.68%
Top 10 Hldgs %
60.52%
Holding
134
New
26
Increased
36
Reduced
22
Closed
40
Avg Time Held
1.9 years
Top 10 Avg Time Held
1.1 years
Top 20 Avg Time Held
1.8 years

Top Buys

Rank Stock Value
1
AVGO icon
Broadcom
AVGO
+$326M
2
MCK icon
McKesson
MCK
+$245M
3
COR icon
Cencora
COR
+$186M
4
MA icon
Mastercard
MA
+$176M
5
TW icon
Tradeweb Markets
TW
+$173M

Top Sells

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$182M
2
AMZN icon
Amazon
AMZN
+$143M
3
XYZ icon
Block Inc
XYZ
+$137M
4
NOW icon
ServiceNow
NOW
+$113M
5
ANET icon
Arista Networks
ANET
+$106M

Sector Composition

Rank Sector Weight
1 Technology 30.5%
2 Financials 24.62%
3 Healthcare 21.85%
4 Consumer Discretionary 9.99%
5 Communication Services 6.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
VIPS icon
26
Vipshop
VIPS
$6.11B
$65.2M 0.85%
4,920,324
+439,795
+10% +$6.28M
2023 Q2
12 quarters
SE icon
27
Sea Limited
SE
$58.4B
$62.3M 0.81%
651,818
+14,242
+2% +$1.25M
2019 Q2
28 quarters
META icon
28
Meta Platforms (Facebook)
META
$1.88T
$58.3M 0.76%
103,560
-10,850
-9% -$6.63M
2022 Q2
16 quarters
ALGN icon
29
Align Technology
ALGN
$10.3B
$53.5M 0.69%
316,832
+91,661
+41% +$15.9M
2022 Q1
17 quarters
DOCS icon
30
Doximity
DOCS
$5.33B
$48.9M 0.63%
2,355,900
-1,956,097
-45% -$43.3M
2024 Q2
8 quarters
GTLB icon
31
GitLab
GTLB
$8.86B
$45.1M 0.58%
1,475,612
+528,612
+56% +$13.4M
2025 Q3
3 quarters
SLB icon
32
SLB Ltd
SLB
$72B
$39.3M 0.51%
846,192
-100,000
-11% -$5.36M
2025 Q3
3 quarters
VNET icon
33
VNET Group
VNET
$1.28B
$38.1M 0.49%
4,760,599
+4,437,879
+1,375% +$40.3M
2025 Q1
5 quarters
NOW icon
34
ServiceNow
NOW
$145B
$36.9M 0.48%
371,803
-1,142,046
-75% -$113M
2022 Q2
16 quarters
NBIX icon
35
Neurocrine Biosciences
NBIX
$13.8B
$36.1M 0.47%
214,100
+28,100
+15% +$4.17M
2025 Q4
2 quarters
RPRX icon
36
Royalty Pharma
RPRX
$26.3B
$35.4M 0.46%
630,700
-500
-0.1% -$26K
2026 Q1
1 quarter
SFM icon
37
Sprouts Farmers Market
SFM
$6.03B
$31.7M 0.41%
375,200
-323,270
-46% -$26.1M
2025 Q4
2 quarters
SPCX icon
38
SpaceX
SPCX
$2.01T
$28.8M 0.37%
+168,723
New +$28.7M
2026 Q2
0 quarters
VTMX icon
39
Vesta Real Estate
VTMX
$3.18B
$28.5M 0.37%
829,302
+6,857
+0.8% +$238K
2023 Q3
11 quarters
TBBB icon
40
BBB Foods
TBBB
$6.79B
$27.9M 0.36%
670,106
+563,141
+526% +$21.5M
2026 Q1
1 quarter
IONS icon
41
Ionis Pharmaceuticals
IONS
$7.1B
$25.5M 0.33%
321,000
+268,000
+506% +$20.2M
2026 Q1
1 quarter
TME icon
42
Tencent Music
TME
$13.8B
$24.3M 0.31%
2,903,426
+22,273
+0.8% +$203K
2023 Q4
10 quarters
KSPI icon
43
Kaspi.kz JSC
KSPI
$18B
$19.6M 0.26%
226,666
+2,138
+1% +$181K
2024 Q2
8 quarters
GL icon
44
Globe Life
GL
$12.9B
$19.1M 0.25%
107,100
-62,900
-37% -$9.85M
2024 Q4
6 quarters
CL icon
45
Colgate-Palmolive
CL
$74B
$18.3M 0.24%
199,143
-37,059
-16% -$3.24M
2025 Q3
3 quarters
AEM icon
46
Agnico Eagle Mines
AEM
$89.6B
$17.6M 0.23%
+113,584
New +$21M
2026 Q2
0 quarters
FNV icon
47
Franco-Nevada
FNV
$45.3B
$17.5M 0.23%
+83,723
New +$19.5M
2026 Q2
0 quarters
GTLS icon
48
DELISTED
Chart Industries
GTLS
$17.3M 0.22%
82,944
– –
2025 Q3
3 quarters
WBS icon
49
DELISTED
Webster Financial
WBS
$17M 0.22%
222,221
+28,196
+15% +$2.05M
2026 Q1
1 quarter
EDU icon
50
New Oriental
EDU
$8.93B
$16.9M 0.22%
368,392
+3,006
+0.8% +$153K
2021 Q2
20 quarters
1
2
3 4 5

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Carmignac Gestion's Q2 2026 Portfolio in Review

As of Q2 2026, Carmignac Gestion held 134 positions worth $7.71B, up 18% from $6.51B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Carmignac Gestion deployed $977M of net new capital in Q2 2026, opening 26 new positions and adding to 36 existing holdings. Its largest new stake was Zoetis: 1,575,700 shares worth $113M.

By sector, the portfolio is most concentrated in Technology at 30% of assets, down from 33% a quarter earlier, followed by Financials and Healthcare.

On the sell side, the largest reduction was Amazon, an estimated $143M trimmed.

  • Carmignac Gestion's largest Q2 2026 buy was Zoetis: 1,575,700 shares worth $113M.
  • Carmignac Gestion added most to Broadcom in Q2 2026, an estimated $326M increase.
  • Carmignac Gestion's biggest Q2 2026 reduction was Amazon, cutting an estimated $143M.
  • Carmignac Gestion fully exited Salesforce in Q2 2026, selling an estimated $182M.
  • Carmignac Gestion's ten largest holdings make up 61% of its $7.71B portfolio in Q2 2026.
  • Carmignac Gestion opened 26 new positions and closed 40 in Q2 2026.
  • Carmignac Gestion's portfolio value rose 18% quarter-over-quarter to $7.71B.

Based on Carmignac Gestion's 13F filing for Q2 2026, filed 13 Aug 2026.