Carmignac Gestion Portfolio holdings
Carmignac Gestion is a French asset manager founded in 1989 by Édouard Carmignac and Éric Helderlé. Édouard Carmignac had started a fund management company, Pyramide Gestion, as a subsidiary of a stockbroker in 1984, and he left Hamant Carmignac in 1989 to set up Carmignac with Helderlé. Edouard Carmignac's early focus on technology, commodities and emerging markets brought the firm its first successes in the 1990s. Carmignac Investissement and Carmignac Patrimoine, the firm's flagship fund, were both launched in 1989. In 1999 Carmignac Gestion opened a Luxembourg office, from which it sells its funds to investors elsewhere in Europe.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$397M |
| 2 |
Occidental Petroleum
OXY
|
+$313M |
| 3 |
Anadarko Petroleum
APC
|
+$307M |
| 4 |
GG
Goldcorp Inc
GG
|
+$301M |
| 5 |
Newmont
NEM
|
+$293M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bread Financial
BFH
|
+$269M |
| 2 |
JD.com
JD
|
+$142M |
| 3 |
BSMX
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
|
+$142M |
| 4 |
Amazon
AMZN
|
+$94.1M |
| 5 |
Liberty Global Class A
LBTYA
|
+$44.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 20.39% |
| 2 | Communication Services | 19.4% |
| 3 | Financials | 17.37% |
| 4 | Consumer Discretionary | 11.85% |
| 5 | Energy | 10.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Amazon
AMZN
$2.89T
| $950M | 9.25% |
31,990,980
-3,317,120
| -9% | -$94.1M |
2015 Q1
4 quarters
|
|
2
Meta Platforms (Facebook)
META
$1.64T
| $760M | 7.4% |
6,656,854
+27,100
| +0.4% | +$2.86M |
2013 Q4
9 quarters
|
|
|
CELG
3
DELISTED
Celgene Corp
CELG
| $759M | 7.39% |
7,580,700
+30,500
| +0.4% | +$3.14M |
2013 Q2
11 quarters
|
|
|
4
DELISTED
Anadarko Petroleum
APC
| $566M | 5.52% |
12,161,068
+7,572,162
| +165% | +$307M |
2013 Q2
11 quarters
|
|
5
Intercontinental Exchange
ICE
$100B
| $553M | 5.38% |
11,752,625
+56,000
| +0.5% | +$2.72M |
2013 Q2
11 quarters
|
|
6
Visa
V
$794B
| $521M | 5.07% |
6,806,204
+28,800
| +0.4% | +$2.09M |
2014 Q4
5 quarters
|
|
7
Mastercard
MA
$575B
| $467M | 4.55% |
4,946,122
+20,900
| +0.4% | +$1.85M |
2014 Q4
5 quarters
|
|
8
Thermo Fisher Scientific
TMO
$259B
| $465M | 4.53% |
3,283,129
+13,600
| +0.4% | +$1.82M |
2013 Q4
9 quarters
|
|
|
9
Microsoft
MSFT
$3.9T
| $419M | 4.08% |
+7,582,567
| New | +$397M |
2016 Q1
0 quarters
|
|
10
Perrigo
PRGO
$2.24B
| $413M | 4.02% |
3,224,624
+7,473
| +0.2% | +$1.02M |
2015 Q2
3 quarters
|
|
11
Alphabet (Google) Class A
GOOGL
$3.64T
| $396M | 3.86% |
10,379,220
-1,012,380
| -9% | -$37.3M |
2015 Q4
1 quarter
|
|
12
Alphabet (Google) Class C
GOOG
$3.6T
| $391M | 3.81% |
10,509,140
-500,140
| -5% | -$17.9M |
2013 Q3
10 quarters
|
|
|
GG
13
DELISTED
Goldcorp Inc
GG
| $351M | 3.42% |
+21,651,343
| New | +$301M |
2016 Q1
0 quarters
|
|
|
LVLT
14
DELISTED
Level 3 Communications Inc
LVLT
| $341M | 3.32% |
6,452,937
+28,000
| +0.4% | +$1.38M |
2015 Q1
4 quarters
|
|
|
15
Newmont
NEM
$117B
| $336M | 3.27% |
+12,643,598
| New | +$293M |
2016 Q1
0 quarters
|
|
|
16
Occidental Petroleum
OXY
$58.8B
| $320M | 3.12% |
+4,673,446
| New | +$313M |
2016 Q1
0 quarters
|
|
17
ServiceNow
NOW
$106B
| $267M | 2.6% |
21,830,075
+3,422,690
| +19% | +$43.3M |
2015 Q1
4 quarters
|
|
18
Mercado Libre
MELI
$75.8B
| $266M | 2.6% |
2,260,723
+252,142
| +13% | +$26.1M |
2014 Q4
5 quarters
|
|
|
BSMX
19
DELISTED
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
| $243M | 2.36% |
26,860,662
-17,768,324
| -40% | -$142M |
2013 Q2
11 quarters
|
|
20
Viatris
VTRS
$23.8B
| $243M | 2.36% |
5,232,719
-132,454
| -2% | -$6.39M |
2015 Q3
2 quarters
|
|
21
DELISTED
Hess
HES
| $216M | 2.11% |
+4,109,940
| New | +$182M |
2016 Q1
0 quarters
|
|
|
ICPT
22
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $214M | 2.09% |
1,666,737
+346,850
| +26% | +$41M |
2014 Q2
7 quarters
|
|
23
T-Mobile US
TMUS
$181B
| $198M | 1.93% |
5,164,374
+610,150
| +13% | +$23M |
2015 Q4
1 quarter
|
|
|
CBD
24
DELISTED
Companhia Brasileira de Distribuicao
CBD
| $142M | 1.38% |
+10,188,177
| New | +$111M |
2016 Q1
0 quarters
|
|
|
25
Liberty Global Class A
LBTYA
$3.57B
| $138M | 1.35% |
4,110,452
-1,411,024
| -26% | -$44.4M |
2015 Q3
2 quarters
|
|
Similar funds
Carmignac Gestion's Q1 2016 Portfolio in Review
As of Q1 2016, Carmignac Gestion held 30 positions worth $10.3B, up 13% from $9.08B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Carmignac Gestion deployed $1.53B of net new capital in Q1 2016, opening 8 new positions and adding to 13 existing holdings. Its largest new stake was Microsoft: 7,582,567 shares worth $419M.
By sector, the portfolio is most concentrated in Healthcare at 20% of assets, down from 26% a quarter earlier, followed by Communication Services and Financials.
On the sell side, the largest reduction was Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México, an estimated $142M trimmed.
- Carmignac Gestion's largest Q1 2016 buy was Microsoft: 7,582,567 shares worth $419M.
- Carmignac Gestion added most to Anadarko Petroleum in Q1 2016, an estimated $307M increase.
- Carmignac Gestion's biggest Q1 2016 reduction was Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México, cutting an estimated $142M.
- Carmignac Gestion fully exited Bread Financial in Q1 2016, selling an estimated $269M.
- Carmignac Gestion's ten largest holdings make up 57% of its $10.3B portfolio in Q1 2016.
- Carmignac Gestion opened 8 new positions and closed 2 in Q1 2016.
- Carmignac Gestion's portfolio value rose 13% quarter-over-quarter to $10.3B.
Based on Carmignac Gestion's 13F filing for Q1 2016, filed 13 May 2016.