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
DHR icon
51
Danaher
DHR
$158B
$15M 0.23%
76,055
-17,315
-19% -$3.36M
2019 Q2
24 quarters
EDU icon
52
New Oriental
EDU
$8.93B
$14.3M 0.22%
265,333
-34,917
-12% -$1.66M
2021 Q2
16 quarters
ORCL icon
53
Oracle
ORCL
$396B
$12.1M 0.19%
55,808
-220
-0.4% -$35.5K
2022 Q2
12 quarters
ANSS icon
54
DELISTED
Ansys
ANSS
$11.5M 0.18%
32,796
-48,928
-60% -$16M
2019 Q2
24 quarters
MRUS icon
55
DELISTED
Merus
MRUS
$11.3M 0.17%
214,722
+93,561
+77% +$4.4M
2025 Q1
1 quarter
DNB icon
56
DELISTED
Dun & Bradstreet
DNB
$11M 0.17%
1,205,784
+891,318
+283% +$7.98M
2025 Q1
1 quarter
FYBR icon
57
DELISTED
Frontier Communications
FYBR
$10.6M 0.16%
290,833
+256,332
+743% +$9.3M
2025 Q1
1 quarter
INTU icon
58
Intuit
INTU
$83B
$10.3M 0.16%
13,042
+906
+7% +$613K
2019 Q2
24 quarters
ALGN icon
59
Align Technology
ALGN
$10.3B
$9.92M 0.15%
52,453
-4,321
-8% -$763K
2022 Q1
13 quarters
ESGR icon
60
DELISTED
Enstar Group
ESGR
$9.62M 0.15%
28,589
+24,027
+527% +$8.04M
2024 Q3
3 quarters
CHX icon
61
DELISTED
ChampionX
CHX
$9.41M 0.14%
378,880
-15,553
-4% -$392K
2024 Q3
3 quarters
GL icon
62
Globe Life
GL
$12.9B
$9.2M 0.14%
74,000
-16,000
-18% -$1.94M
2024 Q4
2 quarters
ACN icon
63
Accenture
ACN
$132B
$9.06M 0.14%
30,366
+2,830
+10% +$862K
2021 Q3
15 quarters
ADBE icon
64
Adobe
ADBE
$93.7B
$7.76M 0.12%
20,062
+9,434
+89% +$3.64M
2019 Q2
24 quarters
SYK icon
65
Stryker
SYK
$108B
$7.73M 0.12%
19,556
-12,113
-38% -$4.53M
2019 Q2
24 quarters
BPMC icon
66
DELISTED
Blueprint Medicines
BPMC
$7.01M 0.11%
+54,676
New +$5.68M
2025 Q2
0 quarters
SWTX icon
67
DELISTED
SpringWorks Therapeutics
SWTX
$6.99M 0.11%
+148,806
New +$6.62M
2025 Q2
0 quarters
ISRG icon
68
Intuitive Surgical
ISRG
$148B
$6.56M 0.1%
12,103
-17,767
-59% -$9.29M
2017 Q4
30 quarters
AAPL icon
69
Apple
AAPL
$5.01T
$5.78M 0.09%
28,190
+13,476
+92% +$2.72M
2024 Q2
4 quarters
CSCO icon
70
Cisco
CSCO
$448B
$5.65M 0.09%
81,368
– –
2021 Q4
14 quarters
TUYA icon
71
Tuya Inc
TUYA
$1.04B
$5.04M 0.08%
2,180,501
-857,743
-28% -$2.08M
2021 Q1
17 quarters
COST icon
72
Costco
COST
$435B
$4.95M 0.08%
5,000
– –
2018 Q1
29 quarters
WBA icon
73
DELISTED
Walgreens Boots Alliance
WBA
$4.76M 0.07%
+414,681
New +$4.62M
2025 Q2
0 quarters
INFA icon
74
DELISTED
Informatica
INFA
$4.74M 0.07%
+194,672
New +$4.01M
2025 Q2
0 quarters
ETWO icon
75
DELISTED
E2open Parent Holdings
ETWO
$4.66M 0.07%
+1,441,686
New +$3.79M
2025 Q2
0 quarters
1 2
3
4 5

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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.