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
MA icon
151
Mastercard
MA
$528B
– –
-111,981
Closed -$61.9M –
MTZ icon
152
MasTec
MTZ
$15.6B
– –
-8,960
Closed -$1.05M –
NEE icon
153
NextEra Energy
NEE
$163B
– –
-46,138
Closed -$3.27M –
NOV icon
154
NOV
NOV
$6.68B
– –
-25,000
Closed -$381K –
NOVA icon
155
DELISTED
Sunnova Energy
NOVA
– –
-41,999
Closed -$15.6K –
NVT icon
156
nVent Electric
NVT
$24.7B
– –
-37,002
Closed -$1.94M –
PANW icon
157
Palo Alto Networks
PANW
$307B
– –
-3,000
Closed -$512K –
PLUG icon
158
Plug Power
PLUG
$2.03B
– –
-67,284
Closed -$90.8K –
PLYA icon
159
DELISTED
Playa Hotels & Resorts
PLYA
– –
-563,168
Closed -$7.51M –
RSG icon
160
Republic Services
RSG
$68.7B
– –
-7,761
Closed -$1.88M –
RUN icon
161
Sunrun
RUN
$1.76B
– –
-11,626
Closed -$68.1K –
SEDG icon
162
SolarEdge
SEDG
$1.88B
– –
-5,975
Closed -$96.7K –
SLB icon
163
SLB Ltd
SLB
$72B
– –
-4,605,000
Closed -$192M –
SNOW icon
164
Snowflake
SNOW
$118B
– –
-1,500
Closed -$219K –
TAL icon
165
TAL Education Group
TAL
$6.94B
– –
-58,527
Closed -$773K –
TPIC icon
166
DELISTED
TPI Composites
TPIC
– –
-87,311
Closed -$70.4K –
VLTO icon
167
Veralto
VLTO
$24.5B
– –
-15,644
Closed -$1.52M –
WM icon
168
Waste Management
WM
$86.2B
– –
-28,164
Closed -$6.52M –
TBBB icon
169
BBB Foods
TBBB
$6.79B
– –
-15,000
Closed -$400K –
SNRE
170
DELISTED
Sunrise Communications AG American Depositary Shares representing Class A shares
SNRE
– –
-9,420
Closed -$455K –
BERY icon
171
DELISTED
Berry Global Group, Inc.
BERY
– –
-27,800
Closed -$1.94M –
BECN icon
172
DELISTED
Beacon Roofing Supply, Inc.
BECN
– –
-28,633
Closed -$3.54M –
PDCO icon
173
DELISTED
Patterson Companies, Inc.
PDCO
– –
-106,772
Closed -$3.34M –
AMPS icon
174
DELISTED
Altus Power
AMPS
– –
-600,440
Closed -$2.97M –
PYCR icon
175
DELISTED
Paycor HCM, Inc. Common Stock
PYCR
– –
-147,693
Closed -$3.31M –
4 5 6
7
8

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EGM
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AC
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XT
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AL
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NAMA
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AAB
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SIAU
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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.