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
NVDA icon
1
NVIDIA
NVDA
$5.34T
$590M 9.08%
3,733,985
-236,425
-6% -$29.8M
2019 Q2
24 quarters
AMZN icon
2
Amazon
AMZN
$2.74T
$475M 7.31%
2,165,476
-712,751
-25% -$141M
2019 Q4
22 quarters
GOOGL icon
3
Alphabet (Google) Class A
GOOGL
$4.25T
$463M 7.12%
2,625,815
+960,753
+58% +$157M
2018 Q3
27 quarters
MELI icon
4
Mercado Libre
MELI
$93.2B
$357M 5.49%
136,441
+18,203
+15% +$42.5M
2014 Q4
42 quarters
MCK icon
5
McKesson
MCK
$114B
$286M 4.4%
390,112
-75,764
-16% -$53.5M
2024 Q3
3 quarters
COR icon
6
Cencora
COR
$64.2B
$277M 4.26%
922,491
-180,988
-16% -$52.1M
2024 Q2
4 quarters
SPGI icon
7
S&P Global
SPGI
$120B
$246M 3.79%
467,109
+130,798
+39% +$65.3M
2022 Q1
13 quarters
MSFT icon
8
Microsoft
MSFT
$3.96T
$243M 3.74%
488,624
-35,999
-7% -$15.6M
2019 Q1
25 quarters
AVGO icon
9
Broadcom
AVGO
$1.65T
$230M 3.53%
833,124
+9,440
+1% +$2.05M
2024 Q2
4 quarters
ICE icon
10
Intercontinental Exchange
ICE
$87.1B
$196M 3.02%
1,068,406
+48,296
+5% +$8.3M
2013 Q2
48 quarters
APH icon
11
Amphenol
APH
$204B
$192M 2.96%
3,893,000
-249,000
-6% -$10.2M
2024 Q3
3 quarters
TMO icon
12
Thermo Fisher Scientific
TMO
$249B
$159M 2.44%
391,279
+202,107
+107% +$84.5M
2019 Q2
24 quarters
META icon
13
Meta Platforms (Facebook)
META
$1.88T
$152M 2.35%
206,490
+53,625
+35% +$33.1M
2022 Q2
12 quarters
EFX icon
14
Equifax
EFX
$17.7B
$151M 2.32%
581,098
-37,393
-6% -$9.51M
2024 Q3
3 quarters
VIPS icon
15
Vipshop
VIPS
$6.11B
$143M 2.2%
9,510,664
+550,843
+6% +$7.8M
2023 Q2
8 quarters
XYZ icon
16
Block Inc
XYZ
$45.6B
$140M 2.15%
2,054,026
-163,500
-7% -$9.51M
2022 Q4
10 quarters
ETN icon
17
Eaton
ETN
$159B
$136M 2.09%
381,000
-221,544
-37% -$68.2M
2024 Q3
3 quarters
NOW icon
18
ServiceNow
NOW
$145B
$127M 1.95%
617,075
+98,570
+19% +$18.6M
2022 Q2
12 quarters
CNC icon
19
Centene
CNC
$34.7B
$117M 1.8%
2,150,428
-2,345,500
-52% -$138M
2024 Q2
4 quarters
CDNS icon
20
Cadence Design Systems
CDNS
$90.7B
$109M 1.68%
354,026
-70,797
-17% -$20.6M
2024 Q2
4 quarters
ANET icon
21
Arista Networks
ANET
$246B
$103M 1.59%
1,009,500
+796,800
+375% +$68.9M
2024 Q2
4 quarters
VRTX icon
22
Vertex Pharmaceuticals
VRTX
$126B
$101M 1.56%
227,296
+100,342
+79% +$46.2M
2024 Q2
4 quarters
ITUB icon
23
Itaú Unibanco
ITUB
$107B
$95.4M 1.47%
14,467,493
-1,900,999
-12% -$11.6M
2023 Q4
6 quarters
SNPS icon
24
Synopsys
SNPS
$92B
$88.7M 1.37%
173,034
-329,739
-66% -$154M
2024 Q2
4 quarters
TW icon
25
Tradeweb Markets
TW
$23.4B
$83.9M 1.29%
572,900
+241,900
+73% +$33.8M
2022 Q2
12 quarters
1
2 3 4 5

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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.