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CG

Carmignac Gestion Portfolio holdings

AUM $7.71B
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

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
NVDA icon
1
NVIDIA
NVDA
$5.25T
$590M 9.08%
3,733,985
-236,425
-6% -$29.8M
AMZN icon
2
Amazon
AMZN
$2.87T
$475M 7.31%
2,165,476
-712,751
-25% -$141M
GOOGL icon
3
Alphabet (Google) Class A
GOOGL
$4.24T
$463M 7.12%
2,625,815
+960,753
+58% +$157M
MELI icon
4
Mercado Libre
MELI
$99.7B
$357M 5.49%
136,441
+18,203
+15% +$42.5M
MCK icon
5
McKesson
MCK
$104B
$286M 4.4%
390,112
-75,764
-16% -$53.5M
COR icon
6
Cencora
COR
$61.5B
$277M 4.26%
922,491
-180,988
-16% -$52.1M
SPGI icon
7
S&P Global
SPGI
$131B
$246M 3.79%
467,109
+130,798
+39% +$65.3M
MSFT icon
8
Microsoft
MSFT
$3.81T
$243M 3.74%
488,624
-35,999
-7% -$15.6M
AVGO icon
9
Broadcom
AVGO
$1.75T
$230M 3.53%
833,124
+9,440
+1% +$2.05M
ICE icon
10
Intercontinental Exchange
ICE
$91.1B
$196M 3.02%
1,068,406
+48,296
+5% +$8.3M
APH icon
11
Amphenol
APH
$194B
$192M 2.96%
1,946,500
-124,500
-6% -$10.2M
TMO icon
12
Thermo Fisher Scientific
TMO
$230B
$159M 2.44%
391,279
+202,107
+107% +$84.5M
META icon
13
Meta Platforms (Facebook)
META
$1.47T
$152M 2.35%
206,490
+53,625
+35% +$33.1M
EFX icon
14
Equifax
EFX
$22.8B
$151M 2.32%
581,098
-37,393
-6% -$9.51M
VIPS icon
15
Vipshop
VIPS
$6.42B
$143M 2.2%
9,510,664
+550,843
+6% +$7.8M
XYZ
16
Block Inc
XYZ
$50.2B
$140M 2.15%
2,054,026
-163,500
-7% -$9.51M
ETN icon
17
Eaton
ETN
$156B
$136M 2.09%
381,000
-221,544
-37% -$68.2M
NOW icon
18
ServiceNow
NOW
$150B
$127M 1.95%
617,075
+98,570
+19% +$18.6M
CNC icon
19
Centene
CNC
$32B
$117M 1.8%
2,150,428
-2,345,500
-52% -$138M
CDNS icon
20
Cadence Design Systems
CDNS
$93.7B
$109M 1.68%
354,026
-70,797
-17% -$20.6M
ANET icon
21
Arista Networks
ANET
$246B
$103M 1.59%
1,009,500
+796,800
+375% +$68.9M
VRTX icon
22
Vertex Pharmaceuticals
VRTX
$137B
$101M 1.56%
227,296
+100,342
+79% +$46.2M
ITUB icon
23
Itaú Unibanco
ITUB
$82.7B
$95.4M 1.47%
14,467,493
-1,900,999
-12% -$11.6M
SNPS icon
24
Synopsys
SNPS
$84.8B
$88.7M 1.37%
173,034
-329,739
-66% -$154M
TW icon
25
Tradeweb Markets
TW
$23B
$83.9M 1.29%
572,900
+241,900
+73% +$33.8M
1
2 3 4 5

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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.