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 |
NBL
Noble Energy, Inc.
NBL
|
+$189M |
| 2 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$159M |
| 3 |
Chipotle Mexican Grill
CMG
|
+$148M |
| 4 |
Banco Macro
BMA
|
+$130M |
| 5 |
EOG Resources
EOG
|
+$93M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$293M |
| 2 |
Nike
NKE
|
+$277M |
| 3 |
SLB Ltd
SLB
|
+$211M |
| 4 |
Halliburton
HAL
|
+$172M |
| 5 |
Hess
HES
|
+$163M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 16.32% |
| 2 | Financials | 15.95% |
| 3 | Materials | 15.89% |
| 4 | Communication Services | 11.48% |
| 5 | Consumer Discretionary | 11.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
CELG
1
DELISTED
Celgene Corp
CELG
| $986M | 8% |
7,595,821
+28,000
| +0.4% | +$3.43M |
2013 Q2
16 quarters
|
|
2
Meta Platforms (Facebook)
META
$1.58T
| $706M | 5.72% |
4,674,267
-22,620
| -0.5% | -$3.36M |
2013 Q4
14 quarters
|
|
3
Intercontinental Exchange
ICE
$96.3B
| $684M | 5.55% |
10,375,555
+40,000
| +0.4% | +$2.45M |
2013 Q2
16 quarters
|
|
4
Mercado Libre
MELI
$85B
| $572M | 4.64% |
2,281,757
-16,719
| -0.7% | -$4.3M |
2014 Q4
10 quarters
|
|
5
Cemex
CX
$15.7B
| $572M | 4.64% |
60,765,076
+1,445,393
| +2% | +$12.7M |
2016 Q3
3 quarters
|
|
6
DELISTED
Pioneer Natural Resource Co.
PXD
| $483M | 3.92% |
3,028,974
+292,612
| +11% | +$50M |
2016 Q3
3 quarters
|
|
7
Newmont
NEM
$113B
| $460M | 3.73% |
14,204,881
+659,183
| +5% | +$22.2M |
2016 Q1
5 quarters
|
|
8
DELISTED
Anadarko Petroleum
APC
| $428M | 3.47% |
9,437,201
-2,290,501
| -20% | -$122M |
2013 Q2
16 quarters
|
|
9
ServiceNow
NOW
$110B
| $409M | 3.32% |
19,315,740
-2,373,450
| -11% | -$46.5M |
2015 Q1
9 quarters
|
|
10
Bank of America
BAC
$343B
| $400M | 3.24% |
16,486,731
+3,747,804
| +29% | +$87.4M |
2016 Q4
2 quarters
|
|
|
11
EOG Resources
EOG
$82.8B
| $390M | 3.17% |
4,311,758
+1,009,862
| +31% | +$93M |
2016 Q3
3 quarters
|
|
|
GG
12
DELISTED
Goldcorp Inc
GG
| $353M | 2.86% |
27,336,612
+1,082,557
| +4% | +$15.2M |
2016 Q1
5 quarters
|
|
|
ATVI
13
DELISTED
Activision Blizzard
ATVI
| $339M | 2.75% |
5,893,427
-712,784
| -11% | -$39.4M |
2017 Q1
1 quarter
|
|
14
Mastercard
MA
$573B
| $339M | 2.75% |
2,789,283
-1,238,059
| -31% | -$147M |
2014 Q4
10 quarters
|
|
|
NBL
15
DELISTED
Noble Energy, Inc.
NBL
| $333M | 2.7% |
11,753,883
+6,084,237
| +107% | +$189M |
2016 Q2
4 quarters
|
|
16
Amazon
AMZN
$2.66T
| $331M | 2.69% |
6,846,740
-1,317,240
| -16% | -$62.8M |
2015 Q1
9 quarters
|
|
17
Visa
V
$795B
| $331M | 2.68% |
3,527,352
-1,190,502
| -25% | -$110M |
2014 Q4
10 quarters
|
|
|
CXO
18
DELISTED
CONCHO RESOURCES INC.
CXO
| $301M | 2.44% |
2,474,544
+248,406
| +11% | +$31.4M |
2016 Q2
4 quarters
|
|
19
Wheaton Precious Metals
WPM
$54.1B
| $269M | 2.18% |
13,512,084
+143,994
| +1% | +$2.94M |
2016 Q1
5 quarters
|
|
20
T-Mobile US
TMUS
$170B
| $268M | 2.18% |
4,425,175
-1,346,697
| -23% | -$87.7M |
2015 Q4
6 quarters
|
|
|
ICPT
21
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $246M | 2% |
2,035,592
+7,400
| +0.4% | +$857K |
2014 Q2
12 quarters
|
|
22
TripAdvisor
TRIP
$1.11B
| $239M | 1.94% |
6,265,186
-82,484
| -1% | -$3.41M |
2016 Q3
3 quarters
|
|
|
CBD
23
DELISTED
Companhia Brasileira de Distribuicao
CBD
| $225M | 1.82% |
11,498,596
-1,232,290
| -10% | -$25.6M |
2016 Q1
5 quarters
|
|
|
GRUB
24
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $217M | 1.76% |
2,488,273
+886,980
| +55% | +$73.6M |
2016 Q3
3 quarters
|
|
|
25
Chipotle Mexican Grill
CMG
$41.6B
| $215M | 1.74% |
25,837,550
+15,993,750
| +162% | +$148M |
2017 Q1
1 quarter
|
|
Similar funds
Carmignac Gestion's Q2 2017 Portfolio in Review
As of Q2 2017, Carmignac Gestion held 82 positions worth $12.3B, down 5.5% from $13.1B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Carmignac Gestion withdrew a net $886M in Q2 2017, closing 7 positions and reducing 35 holdings. Its most notable exit was Microsoft, an estimated $293M position sold in full.
By sector, the portfolio is most concentrated in Energy at 16% of assets, down from 20% a quarter earlier, followed by Financials and Materials.
Against the trend, Carmignac Gestion opened a new position in Zayo Group Holdings, Inc. worth $150M.
- Carmignac Gestion's largest Q2 2017 buy was Zayo Group Holdings, Inc.: 4,868,188 shares worth $150M.
- Carmignac Gestion added most to Noble Energy, Inc. in Q2 2017, an estimated $189M increase.
- Carmignac Gestion's biggest Q2 2017 reduction was Halliburton, cutting an estimated $172M.
- Carmignac Gestion fully exited Microsoft in Q2 2017, selling an estimated $293M.
- Carmignac Gestion's ten largest holdings make up 46% of its $12.3B portfolio in Q2 2017.
- Carmignac Gestion opened 4 new positions and closed 7 in Q2 2017.
- Carmignac Gestion's portfolio value fell 5.5% quarter-over-quarter to $12.3B.
Based on Carmignac Gestion's 13F filing for Q2 2017, filed 14 Aug 2017.