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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
+1.9%
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
$7.39B
AUM Growth
+$684M
(+10%)
Cap. Flow
+$547M
Cap. Flow
% of AUM
7.4%
Top 10 Holdings %
Top 10 Hldgs %
51.89%
Holding
170
New
38
Increased
43
Reduced
24
Closed
45
Avg Time Held Equity + Options
1.8
years
Top 10 Avg Time Held Equity + Options
1.5
years
Top 20 Avg Time Held Equity + Options
1.9
years
Avg Time Held Equity only
1.9
years
Top 10 Avg Time Held Equity only
1.5
years
Top 20 Avg Time Held Equity only
1.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$313M |
| 2 |
Atlassian
TEAM
|
+$186M |
| 3 |
ServiceNow
NOW
|
+$131M |
| 4 |
Salesforce
CRM
|
+$128M |
| 5 |
Block Inc
XYZ
|
+$104M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$282M |
| 2 |
Meta Platforms (Facebook)
META
|
+$150M |
| 3 |
Amazon
AMZN
|
+$110M |
| 4 |
Eli Lilly
LLY
|
+$90.3M |
| 5 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
76
Cisco
CSCO
$433B
| $4.49M | 0.06% |
58,345
+8,731
| +18% | +$648K |
2021 Q4
16 quarters
|
|
77
DELISTED
Hologic
HOLX
| $4.2M | 0.06% |
+56,387
| New | +$4.12M |
2025 Q4
0 quarters
|
|
|
RNAM
78
DELISTED
Avidity Biosciences
RNAM
| $4.18M | 0.06% |
+57,938
| New | +$3.74M |
2025 Q4
0 quarters
|
|
79
DELISTED
Cidara Therapeutics
CDTX
| $4.17M | 0.06% |
+18,896
| New | +$3.05M |
2025 Q4
0 quarters
|
|
80
DELISTED
Janus Henderson
JHG
| $4.15M | 0.06% |
+87,299
| New | +$3.86M |
2025 Q4
0 quarters
|
|
81
DELISTED
Confluent
CFLT
| $4.14M | 0.06% |
+136,922
| New | +$3.36M |
2025 Q4
0 quarters
|
|
82
Apple
AAPL
$4.99T
| $4.07M | 0.06% |
14,979
-7,415
| -33% | -$1.99M |
2024 Q2
6 quarters
|
|
83
Costco
COST
$433B
| $4.01M | 0.05% |
4,653
+408
| +10% | +$370K |
2018 Q1
31 quarters
|
|
84
Visa
V
$750B
| $3.7M | 0.05% |
10,552
| – | – |
2021 Q2
18 quarters
|
|
85
JPMorgan Chase
JPM
$891B
| $3.67M | 0.05% |
11,400
+2,029
| +22% | +$628K |
2025 Q1
3 quarters
|
|
86
Cadence Design Systems
CDNS
$89.3B
| $3.63M | 0.05% |
11,586
-206,602
| -95% | -$67.4M |
2024 Q2
6 quarters
|
|
87
VNET Group
VNET
$1.26B
| $3.34M | 0.05% |
394,616
-833
| -0.2% | -$7.72K |
2025 Q1
3 quarters
|
|
|
NGD
88
DELISTED
New Gold Inc
NGD
| $3.31M | 0.04% |
+379,537
| New | +$2.86M |
2025 Q4
0 quarters
|
|
89
Marriott International
MAR
$101B
| $3.25M | 0.04% |
10,482
+952
| +10% | +$272K |
2019 Q2
26 quarters
|
|
90
Hilton Worldwide
HLT
$77.2B
| $3.17M | 0.04% |
11,045
+1,442
| +15% | +$393K |
2021 Q3
17 quarters
|
|
91
DELISTED
Cadence Bank
CADE
| $3.04M | 0.04% |
+70,869
| New | +$2.81M |
2025 Q4
0 quarters
|
|
92
DELISTED
Amicus Therapeutics
FOLD
| $2.78M | 0.04% |
+194,887
| New | +$1.91M |
2025 Q4
0 quarters
|
|
93
TXNM Energy Inc
TXNM
$6.45B
| $2.77M | 0.04% |
+47,000
| New | +$2.71M |
2025 Q4
0 quarters
|
|
94
DELISTED
Hillenbrand
HI
| $2.74M | 0.04% |
+86,224
| New | +$2.66M |
2025 Q4
0 quarters
|
|
95
Kenvue
KVUE
$35.9B
| $2.72M | 0.04% |
+157,574
| New | +$2.58M |
2025 Q4
0 quarters
|
|
96
Casey's General Stores
CASY
$24.9B
| $2.65M | 0.04% |
+4,800
| New | +$2.64M |
2025 Q4
0 quarters
|
|
|
CIO
97
DELISTED
City Office REIT
CIO
| $2.62M | 0.04% |
375,233
| – | – |
2025 Q3
1 quarter
|
|
|
98
Eli Lilly
LLY
$1.12T
| $2.56M | 0.03% |
2,379
-94,468
| -98% | -$90.3M |
2021 Q4
16 quarters
|
|
99
DELISTED
TEGNA Inc
TGNA
| $2.4M | 0.03% |
123,716
| – | – |
2025 Q3
1 quarter
|
|
100
Peloton Interactive
PTON
$2.34B
| $2.26M | 0.03% |
366,439
+326,955
| +828% | +$2.3M |
2025 Q3
1 quarter
|
|
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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.