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
+20.33%
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
$6.5B
AUM Growth
+$408M
Cap. Flow
-$561M
Cap. Flow %
-8.63%
Top 10 Hldgs %
51.73%
Holding
181
New
22
Increased
42
Reduced
49
Closed
52
Avg Time Held Equity + Options
2.1 years
Top 10 Avg Time Held Equity + Options
1.1 years
Top 20 Avg Time Held Equity + Options
1.7 years
Avg Time Held Equity only
2.2 years
Top 10 Avg Time Held Equity only
1.1 years
Top 20 Avg Time Held Equity only
1.7 years

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$157M
2
TMO icon
Thermo Fisher Scientific
TMO
+$84.5M
3
ANET icon
Arista Networks
ANET
+$68.9M
4
SPGI icon
S&P Global
SPGI
+$65.3M
5
CRM icon
Salesforce
CRM
+$61.3M

Top Sells

Rank Stock Value
1
SLB icon
SLB Ltd
SLB
+$192M
2
SNPS icon
Synopsys
SNPS
+$154M
3
AMZN icon
Amazon
AMZN
+$141M
4
CNC icon
Centene
CNC
+$138M
5
PH icon
Parker-Hannifin
PH
+$87.4M

Sector Composition

Rank Sector Weight
1 Technology 32.8%
2 Consumer Discretionary 18.35%
3 Healthcare 17.86%
4 Financials 10.29%
5 Communication Services 9.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
LLY icon
26
Eli Lilly
LLY
$1.08T
$79M 1.22%
101,326
+3,414
+3% +$2.65M
2021 Q4
14 quarters
FIX icon
27
Comfort Systems
FIX
$54.3B
$70.1M 1.08%
130,699
-3,575
-3% -$1.56M
2025 Q1
1 quarter
CRM icon
28
Salesforce
CRM
$194B
$64.9M 1%
238,050
+229,258
+2,608% +$61.3M
2019 Q3
23 quarters
ORLY icon
29
O'Reilly Automotive
ORLY
$70.1B
$57.4M 0.88%
636,340
-93,200
-13% -$8.5M
2024 Q2
4 quarters
GE icon
30
GE Aerospace
GE
$319B
$53M 0.82%
205,825
-153,500
-43% -$33.7M
2023 Q3
7 quarters
ABNB icon
31
Airbnb
ABNB
$98.5B
$51.7M 0.8%
+390,970
New +$49.5M
2025 Q2
0 quarters
CLS icon
32
Celestica
CLS
$40.8B
$50.8M 0.78%
325,500
+54,000
+20% +$5.74M
2025 Q1
1 quarter
LIN icon
33
Linde
LIN
$227B
$49.4M 0.76%
105,194
-37,439
-26% -$17.1M
2023 Q1
9 quarters
SE icon
34
Sea Limited
SE
$58.4B
$45.3M 0.7%
283,455
+10,810
+4% +$1.57M
2019 Q2
24 quarters
KLAC icon
35
KLA
KLAC
$233B
$39.5M 0.61%
441,000
+165,000
+60% +$12.4M
2024 Q2
4 quarters
NEM icon
36
Newmont
NEM
$118B
$36.2M 0.56%
620,651
+145,788
+31% +$7.78M
2016 Q1
37 quarters
KEYS icon
37
Keysight
KEYS
$60.9B
$35.9M 0.55%
219,000
+106,000
+94% +$16.2M
2024 Q2
4 quarters
PH icon
38
Parker-Hannifin
PH
$121B
$31.4M 0.48%
45,009
-138,400
-75% -$87.4M
2024 Q2
4 quarters
AEM icon
39
Agnico Eagle Mines
AEM
$89.6B
$30.7M 0.47%
257,718
-83,829
-25% -$9.73M
2018 Q2
28 quarters
TAP icon
40
Molson Coors Class B
TAP
$7.2B
$28.8M 0.44%
599,000
+221,538
+59% +$12.2M
2025 Q1
1 quarter
PG icon
41
Procter & Gamble
PG
$364B
$27.9M 0.43%
174,852
-26,561
-13% -$4.34M
2021 Q4
14 quarters
DOCS icon
42
Doximity
DOCS
$5.33B
$25.5M 0.39%
415,228
+45,228
+12% +$2.52M
2024 Q2
4 quarters
LNTH icon
43
Lantheus
LNTH
$6.53B
$24.3M 0.37%
297,000
+106,500
+56% +$9.35M
2024 Q2
4 quarters
VTMX icon
44
Vesta Real Estate
VTMX
$3.18B
$21M 0.32%
768,515
+31,085
+4% +$834K
2023 Q3
7 quarters
HTHT icon
45
Huazhu Hotels Group
HTHT
$13.9B
$19.6M 0.3%
576,907
+6,089
+1% +$213K
2024 Q4
2 quarters
BNTX icon
46
BioNTech
BNTX
$22.3B
$18.8M 0.29%
176,351
-9,526
-5% -$962K
2024 Q2
4 quarters
CRS icon
47
Carpenter Technology
CRS
$18.8B
$17.6M 0.27%
63,600
-45,452
-42% -$9.91M
2024 Q3
3 quarters
HD icon
48
Home Depot
HD
$295B
$16.6M 0.26%
45,328
+6,224
+16% +$2.25M
2022 Q3
11 quarters
LULU icon
49
lululemon athletica
LULU
$10.9B
$16.4M 0.25%
69,000
-12,000
-15% -$3.31M
2024 Q3
3 quarters
KSPI icon
50
Kaspi.kz JSC
KSPI
$18B
$15.6M 0.24%
184,030
+16,976
+10% +$1.45M
2024 Q2
4 quarters
1
2
3 4 5

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NAMA
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AAB
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Carmignac Gestion's Q2 2025 Portfolio in Review

As of Q2 2025, Carmignac Gestion held 181 positions worth $6.5B, up 6.7% from $6.09B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Carmignac Gestion withdrew a net $561M in Q2 2025, closing 52 positions and reducing 49 holdings. Its most notable exit was SLB Ltd, an estimated $192M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 27% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Carmignac Gestion opened a new position in Airbnb worth $51.7M.

  • Carmignac Gestion's largest Q2 2025 buy was Airbnb: 390,970 shares worth $51.7M.
  • Carmignac Gestion added most to Alphabet (Google) Class A in Q2 2025, an estimated $157M increase.
  • Carmignac Gestion's biggest Q2 2025 reduction was Synopsys, cutting an estimated $154M.
  • Carmignac Gestion fully exited SLB Ltd in Q2 2025, selling an estimated $192M.
  • Carmignac Gestion's ten largest holdings make up 52% of its $6.5B portfolio in Q2 2025.
  • Carmignac Gestion opened 22 new positions and closed 52 in Q2 2025.
  • Carmignac Gestion's portfolio value rose 6.7% quarter-over-quarter to $6.5B.

Based on Carmignac Gestion's 13F filing for Q2 2025, filed 13 Aug 2025.