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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
+20.33%
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
$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

Top Buys

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

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

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
GOOGL icon
126
CALL
Alphabet (Google) Class A
GOOGL
$4.23T
– –
0
– –
ACHR icon
127
CALL
Archer Aviation
ACHR
$3.36B
– –
0
– –
UNH icon
128
CALL
UnitedHealth
UNH
$387B
– –
0
– –
ADI icon
129
Analog Devices
ADI
$183B
– –
-20,792
Closed -$4.19M
ADSK icon
130
Autodesk
ADSK
$45.6B
– –
-22,191
Closed -$5.81M
ALB icon
131
Albemarle
ALB
$14B
– –
-3,999
Closed -$288K
AMAT icon
132
Applied Materials
AMAT
$424B
– –
-12,530
Closed -$1.82M
AMD icon
133
Advanced Micro Devices
AMD
$798B
– –
-11,975
Closed -$1.23M
BABA icon
134
Alibaba
BABA
$276B
– –
-4,933
Closed -$652K
CCJ icon
135
Cameco
CCJ
$37.1B
– –
-88,933
Closed -$3.66M
CL icon
136
Colgate-Palmolive
CL
$75.4B
– –
-367,042
Closed -$34.3M
DAR icon
137
Darling Ingredients
DAR
$10B
– –
-30,917
Closed -$966K
DESP
138
DELISTED
Despegar.com
DESP
– –
-234,586
Closed -$4.41M
DFS
139
DELISTED
Discover Financial Services
DFS
– –
-28,457
Closed -$4.86M
DQ
140
Daqo New Energy
DQ
$794M
– –
-122,514
Closed -$2.22M
ECL icon
141
Ecolab
ECL
$77.7B
– –
-10,656
Closed -$2.7M
ELV icon
142
Elevance Health
ELV
$79.7B
– –
-1,176
Closed -$512K
FERG icon
143
Ferguson
FERG
$45.4B
– –
-8,684
Closed -$1.39M
HEES
144
DELISTED
H&E Equipment Services
HEES
– –
-35,923
Closed -$3.41M
HES
145
DELISTED
Hess
HES
– –
-8,379
Closed -$1.34M
HXL icon
146
Hexcel
HXL
$7.83B
– –
-7,804
Closed -$427K
INOD icon
147
Innodata
INOD
$1.97B
– –
-2,500
Closed -$89.8K
JD icon
148
JD.com
JD
$40.1B
– –
-463,364
Closed -$19.1M
JWN
149
DELISTED
Nordstrom
JWN
– –
-70,190
Closed -$1.72M
K
150
DELISTED
Kellanova
K
– –
-91,934
Closed -$7.58M
4 5
6
7 8

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TCM
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S
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RCWMU
Rothschild & Co Wealth Management (UK) London, United Kingdom $6.53B AUM 0.87% 1-Year Est. Return
HI
Harbour Investments Madison, Wisconsin $6.48B AUM 18.23% 1-Year Est. Return
BF
BOK Financial Tulsa, Oklahoma $6.54B AUM 25.41% 1-Year Est. Return
RIG
RiverFront Investment Group Richmond, Virginia $6.46B AUM 18.45% 1-Year Est. Return
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

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.