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Carmignac Gestion Portfolio holdings

AUM $6.51B
1-Year Est. Return 19.13%
This Fund
S&P 500
This Quarter Est. Return
+1.9%
1 Year Est. Return
+19.13%
3 Year Est. Return
+94.32%
5 Year Est. Return
+115.43%
10 Year Est. Return
+608.92%
AUM
$7.39B
AUM Growth
+$684M
Cap. Flow
+$547M
Cap. Flow %
7.4%
Top 10 Hldgs %
51.89%
Holding
170
New
38
Increased
43
Reduced
24
Closed
45

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$313M
2
TEAM icon
Atlassian
TEAM
+$186M
3
NOW icon
ServiceNow
NOW
+$131M
4
CRM icon
Salesforce
CRM
+$128M
5
XYZ
Block Inc
XYZ
+$104M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$282M
2
META icon
Meta Platforms (Facebook)
META
+$150M
3
AMZN icon
Amazon
AMZN
+$110M
4
LLY icon
Eli Lilly
LLY
+$90.3M
5
ETN icon
Eaton
ETN
+$81.1M

Sector Composition

Rank Sector Weight
1 Technology 38.19%
2 Financials 16.28%
3 Healthcare 14.81%
4 Consumer Discretionary 12.74%
5 Communication Services 6.97%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HD icon
51
Home Depot
HD
$355B
$14.5M 0.2%
42,046
+2,375
+6% +$870K
BNTX icon
52
BioNTech
BNTX
$23.5B
$13.7M 0.19%
144,087
+37,538
+35% +$3.78M
AGI icon
53
Alamos Gold
AGI
$13.9B
$12.7M 0.17%
329,968
+113,390
+52% +$3.95M
CLX icon
54
Clorox
CLX
$12.7B
$12.4M 0.17%
+122,977
New +$13.4M
OC icon
55
Owens Corning
OC
$12.4B
$11.8M 0.16%
105,800
+20,800
+24% +$2.44M
GTLS
56
DELISTED
Chart Industries
GTLS
$11.5M 0.16%
55,842
+9,568
+21% +$1.94M
FYBR
57
DELISTED
Frontier Communications
FYBR
$11.1M 0.15%
290,833
– –
CTLP
58
DELISTED
Cantaloupe
CTLP
$10.4M 0.14%
977,158
– –
CMA
59
DELISTED
Comerica
CMA
$9.38M 0.13%
+107,873
New +$8.68M
NBIX icon
60
Neurocrine Biosciences
NBIX
$16.6B
$9.02M 0.12%
+63,600
New +$9.21M
EXAS
61
DELISTED
Exact Sciences
EXAS
$8.26M 0.11%
+81,354
New +$6.53M
AL
62
DELISTED
Air Lease Corp
AL
$8.08M 0.11%
+125,849
New +$8.03M
DENN
63
DELISTED
Denny's
DENN
$8M 0.11%
+1,285,703
New +$7.29M
CSGS
64
DELISTED
CSG Systems International
CSGS
$7.91M 0.11%
+103,097
New +$7.61M
TWLO icon
65
Twilio
TWLO
$36.6B
$7.11M 0.1%
+50,000
New +$6.19M
CWAN
66
DELISTED
Clearwater Analytics
CWAN
$6.95M 0.09%
+288,126
New +$5.77M
SHCO
67
DELISTED
Soho House & Co
SHCO
$6.65M 0.09%
741,722
– –
VRT icon
68
Vertiv
VRT
$105B
$6.48M 0.09%
+40,000
New +$6.94M
AMWD
69
DELISTED
American Woodmark
AMWD
$6.21M 0.08%
115,255
– –
INTU icon
70
Intuit
INTU
$89B
$6.09M 0.08%
9,179
-4,323
-32% -$2.86M
EA
71
DELISTED
Electronic Arts
EA
$5.87M 0.08%
28,740
+1,897
+7% +$383K
DAY
72
DELISTED
Dayforce
DAY
$5.51M 0.07%
+79,728
New +$5.49M
WBD icon
73
Warner Bros
WBD
$67.1B
$5.36M 0.07%
+185,955
New +$4.35M
PRA
74
DELISTED
ProAssurance
PRA
$5.25M 0.07%
217,263
– –
KLAC icon
75
KLA
KLAC
$259B
$4.86M 0.07%
40,000
-10,000
-20% -$1.17M
1 2
3
4 5

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HI
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BF
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LAM
Lyrical Asset Management New York $6.56B AUM 20.06% 1-Year Est. Return
OCM
Oaktree Capital Management Los Angeles, California $6.56B AUM 42.97% 1-Year Est. Return
HFS
Hantz Financial Services Southfield, Michigan $6.56B AUM 16.11% 1-Year Est. Return
BFS
Bradley Foster & Sargent Hartford, Connecticut $6.44B AUM 25.27% 1-Year Est. Return
NMIMC
Northwestern Mutual Investment Management Company Milwaukee, Wisconsin $6.6B AUM 19.75% 1-Year Est. Return

Carmignac Gestion's Q4 2025 Portfolio in Review

As of Q4 2025, Carmignac Gestion held 170 positions worth $7.39B, up 10% from $6.71B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Carmignac Gestion deployed $547M of net new capital in Q4 2025, opening 38 new positions and adding to 43 existing holdings. Its largest new stake was Novo Nordisk: 1,003,300 shares worth $51M.

By sector, the portfolio is most concentrated in Technology at 38% of assets, up from 30% a quarter earlier, followed by Financials and Healthcare.

On the sell side, the largest reduction was Alphabet (Google) Class A, an estimated $282M trimmed.

  • Carmignac Gestion's largest Q4 2025 buy was Novo Nordisk: 1,003,300 shares worth $51M.
  • Carmignac Gestion added most to Microsoft in Q4 2025, an estimated $313M increase.
  • Carmignac Gestion's biggest Q4 2025 reduction was Alphabet (Google) Class A, cutting an estimated $282M.
  • Carmignac Gestion fully exited Eaton in Q4 2025, selling an estimated $81.1M.
  • Carmignac Gestion's ten largest holdings make up 52% of its $7.39B portfolio in Q4 2025.
  • Carmignac Gestion opened 38 new positions and closed 45 in Q4 2025.
  • Carmignac Gestion's portfolio value rose 10% quarter-over-quarter to $7.39B.

Based on Carmignac Gestion's 13F filing for Q4 2025, filed 13 Feb 2026.