Carmignac Gestion
Sector Allocation
- Technology38.6%$3.0B
- Financials26.1%$2.0B
- Consumer Staples14.0%$1.1B
- Healthcare8.7%$666.4M
- Consumer Discretionary8.1%$627.5M
- Industrials2.7%$205.8M
- Energy0.5%$39.3M
- Materials0.5%$36.9M
- Communication Services0.4%$31.6M
- Real Estate0.4%$30.1M
AUM History
13fpro.ai/research/fund/carmignac-gestion-1569758
Conviction and streaks
Concentrating · top 10 = 60.5%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
NVDA
$959.4MAVGO
$511.5MCOR
$494.5MMCK
$473.7MGOOGL
$412.5MTW
$386.4MMA
$376.2MSPGI
$374.3MBRK.B
$352.5MMELI
$322.6MICE
$254.9MMSFT
$231.9MAMZN
$200.5MAPH
$171.0MLNTH
$148.7MTEAM
$122.7MREGN
$113.8MZTS
$113.2MEFX
$112.8MPH
$101.0M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/carmignac-gestion-1569758
Carmignac Gestion 13F holdings — Q2 2026
$7.7B portfolio (+18.4% QoQ) · 100 holdings · Q2 2026 13F · top 10 are 61% of the stock portfolio
$959.4M
12.4% of stocks
+5%This quarter-4.1%Since filed12+ qtrsHeld$511.5M
6.6% of stocks
+150%This quarter-21.2%Since filed9 qtrsHeld$494.5M
6.4% of stocks
+59%This quarter+6.5%Since filed9 qtrsHeld$473.7M
6.2% of stocks
+97%This quarter+15.9%Since filed8 qtrsHeld$412.5M
5.3% of stocks
-14%This quarter-8.7%Since filed10 qtrsHeld$386.4M
5.0% of stocks
+70%This quarter+17.0%Since filed12+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 6 qtrs in a row$376.2M
4.9% of stocks
+93%This quarter+8.2%Since filed4 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 4 qtrs in a row$374.3M
4.9% of stocks
-4%This quarter+6.6%Since filed12+ qtrsHeld$352.5M
4.6% of stocks
+73%This quarter—Since filed2 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$322.6M
4.2% of stocks
-24%This quarter-8.7%Since filed12+ qtrsHeld
All holdings — Carmignac Gestion (Q2 2026)
100 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | Intercontinental Exchange, Inc. | Financials | $254.9M | 3.3% | 2.07M | +80% | 12+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | MICROSOFT CORP | Technology | $231.9M | 3.0% | 622K | +189% | 12+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | AMAZON COM INC | Consumer Discretionary | $200.5M | 2.6% | 841K | -40% | 10 qtrsTrimmed 5 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | AMPHENOL CORP /DE/ | Technology | $171.0M | 2.2% | 970K | +45% | 8 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | Lantheus Holdings, Inc. | Healthcare | $148.7M | 1.9% | 1.34M | +0.9% | 9 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | Atlassian Corp | Technology | $122.7M | 1.6% | 1.58M | -39% | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | REGENERON PHARMACEUTICALS, INC. | Healthcare | $113.8M | 1.5% | 183K | +57% | 3 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | Zoetis Inc. | Healthcare | $113.2M | 1.5% | 1.58M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | EQUIFAX INC | Financials | $112.8M | 1.5% | 711K | +95% | 8 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Parker-Hannifin Corp | Industrials | $101.0M | 1.3% | 103K | +191% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | Itau Unibanco Holding S.A.preferred | Financials | $99.8M | 1.3% | 12.22M | +42% | 11 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Block, Inc. | Technology | $97.8M | 1.3% | 1.29M | -60% | 12+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | Airbnb, Inc. | Technology | $94.0M | 1.2% | 657K | -0.5% | 5 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | VERTEX PHARMACEUTICALS INC / MA | Healthcare | $81.0M | 1.1% | 163K | +10% | 9 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | CELESTICA INC | Technology | $70.5M | 0.9% | 193K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $VIPS | Vipshop Holdings Ltd | Consumer Discretionary | $65.2M | 0.8% | 4.92M | +10% | |||
| 27 | $SE | Sea Ltd | Industrials | $62.3M | 0.8% | 652K | +2% | |||
| 28 | $META | Meta Platforms, Inc. | Technology | $58.3M | 0.8% | 104K | -9% | |||
| 29 | $ALGN | ALIGN TECHNOLOGY INC | Healthcare | $53.5M | 0.7% | 317K | +41% | |||
| 30 | $DOCS | Doximity, Inc. | Technology | $48.9M | 0.6% | 2.36M | -45% | |||
| 31 | $GTLB | Gitlab Inc. | Technology | $45.1M | 0.6% | 1.48M | +56% | |||
| 32 | $SLB | SLB LIMITED/NV | Energy | $39.3M | 0.5% | 846K | -11% | |||
| 33 | $VNET | VNET Group, Inc. | Technology | $38.1M | 0.5% | 4.76M | +1375% | |||
| 34 | $NOW | ServiceNow, Inc. | Technology | $36.9M | 0.5% | 372K | -75% | |||
| 35 | $NBIX | NEUROCRINE BIOSCIENCES INC | Healthcare | $36.1M | 0.5% | 214K | +15% | |||
| 36 | $RPRX | Royalty Pharma plc | Healthcare | $35.4M | 0.5% | 631K | -0.1% | |||
| 37 | $SFM | Sprouts Farmers Market, Inc. | Consumer Staples | $31.7M | 0.4% | 375K | -46% | |||
| 38 | $SPCX | SPACE EXPLORATION TECHNOLOGIES CORP | Technology | $28.8M | 0.4% | 169K | New | |||
| 39 | $VTMX | Vesta Real Estate Corporation, S.A.B. de C.V. | Real Estate | $28.5M | 0.4% | 829K | +0.8% | |||
| 40 | $TBBB | BBB FOODS INC | Consumer Staples | $27.9M | 0.4% | 670K | +526% | |||
| 41 | $IONS | IONIS PHARMACEUTICALS INC | Healthcare | $25.5M | 0.3% | 321K | +506% | |||
| 42 | $TME | Tencent Music Entertainment Group | Communication Services | $24.3M | 0.3% | 2.90M | +0.8% | |||
| 43 | $KSPI | Joint Stock Co Kaspi.kz | Industrials | $19.6M | 0.3% | 227K | +1.0% | |||
| 44 | $GL | GLOBE LIFE INC. | Financials | $19.1M | 0.3% | 107K | -37% | |||
| 45 | $CL | COLGATE PALMOLIVE CO | Consumer Staples | $18.3M | 0.2% | 199K | -16% | |||
| 46 | $AEM | AGNICO EAGLE MINES LTD | Materials | $17.6M | 0.2% | 114K | New | |||
| 47 | $FNV | FRANCO NEVADA Corp | Materials | $17.5M | 0.2% | 84K | New | |||
| 48 | $GTLS | CHART INDUSTRIES INC | Industrials | $17.3M | 0.2% | 83K | — | |||
| 49 | $WBS | WEBSTER FINANCIAL CORP | Financials | $17.0M | 0.2% | 222K | +15% | |||
| 50 | $EDU | New Oriental Education & Technology Group Inc. | Consumer Discretionary | $16.9M | 0.2% | 368K | +0.8% | |||
| 51 | $ANET | Arista Networks, Inc. | Technology | $12.3M | 0.2% | 72K | -90% | |||
| 52 | $PG | PROCTER & GAMBLE Co | Consumer Staples | $11.3M | 0.1% | 77K | -13% | |||
| 53 | $EA | ELECTRONIC ARTS INC. | Technology | $10.0M | 0.1% | 49K | — | |||
| 54 | $TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | Technology | $10.0M | 0.1% | 21K | +1427% | |||
| 55 | $HD | HOME DEPOT, INC. | Consumer Discretionary | $9.3M | 0.1% | 26K | -14% | |||
| 56 | $CHD | CHURCH & DWIGHT CO INC /DE/ | Consumer Staples | $8.8M | 0.1% | 91K | -6% | |||
| 57 | $SLAB | SILICON LABORATORIES INC. | Technology | $8.8M | 0.1% | 40K | +45% | |||
| 58 | $RAMP | LiveRamp Holdings, Inc. | Technology | $8.8M | 0.1% | 234K | New | |||
| 59 | $TECH | BIO-TECHNE Corp | Healthcare | $8.8M | 0.1% | 125K | New | |||
| 60 | $KVUE | Kenvue Inc. | Consumer Staples | $8.0M | 0.1% | 420K | +167% | |||
| 61 | $TMO | THERMO FISHER SCIENTIFIC INC. | Healthcare | $7.9M | 0.1% | 16K | -0.6% | |||
| 62 | $BNTX | BioNTech SE | Healthcare | $7.4M | 0.1% | 80K | -29% | |||
| 63 | $WBD | Warner Bros. Discovery, Inc. | Communication Services | $7.4M | 0.1% | 277K | +17% | |||
| 64 | $JHG | Janus Henderson Group Ltd. | Financials | $7.1M | 0.1% | 137K | — | |||
| 65 | $OGN | Organon & Co. | Healthcare | $6.1M | 0.1% | 449K | New | |||
| 66 | $APGE | Apogee Therapeutics, Inc. | Healthcare | $5.9M | 0.1% | 44K | New | |||
| 67 | $NUVL | Nuvalent, Inc. | Healthcare | $5.9M | 0.1% | 48K | New | |||
| 68 | $DBRG-PH | DigitalBridge Group, Inc. | Financials | $5.8M | 0.1% | 369K | — | |||
| 69 | $ESPR | Esperion Therapeutics, Inc. | Healthcare | $5.2M | 0.1% | 1.66M | New | |||
| 70 | $LEG | LEGGETT & PLATT INC | Consumer Discretionary | $4.8M | 0.1% | 410K | New | |||
| 71 | $PAYO | Payoneer Global Inc. | Industrials | $3.0M | 0.0% | 426K | New | |||
| 72 | $CZR | Caesars Entertainment, Inc. | Consumer Discretionary | $3.0M | 0.0% | 101K | New | |||
| 73 | $CPRX | CATALYST PHARMACEUTICALS, INC. | Healthcare | $3.0M | 0.0% | 96K | New | |||
| 74 | $LPRO | Open Lending Corp | Financials | $3.0M | 0.0% | 960K | New | |||
| 75 | $GBTG | Global Business Travel Group, Inc. | Consumer Discretionary | $3.0M | 0.0% | 316K | New | |||
| 76 | $TALK | Talkspace, Inc. | Healthcare | $2.9M | 0.0% | 557K | +280% | |||
| 77 | $SEM | SELECT MEDICAL HOLDINGS CORP | Healthcare | $2.9M | 0.0% | 175K | — | |||
| 78 | $TXNM | TXNM ENERGY INC | Utilities | $2.7M | 0.0% | 47K | — | |||
| 79 | $OLPX | OLAPLEX HOLDINGS, INC. | Consumer Staples | $2.6M | 0.0% | 1.25M | +47% | |||
| 80 | $AVNS | AVANOS MEDICAL, INC. | Healthcare | $2.2M | 0.0% | 89K | New | |||
| 81 | $MMYT | MakeMyTrip Ltd | Consumer Discretionary | $2.2M | 0.0% | 40K | +33% | |||
| 82 | $IMXI | International Money Express, Inc. | Industrials | $2.0M | 0.0% | 139K | — | |||
| 83 | $CRH | CRH PUBLIC LTD CO | Materials | $1.8M | 0.0% | 17K | New | |||
| 84 | $QFIN | Qfin Holdings, Inc. | Financials | $618K | 0.0% | 39K | — | |||
| 85 | $V | VISA INC. | Financials | $590K | 0.0% | 1,721 | -26% | |||
| 86 | $DX | DYNEX CAPITAL INC | Real Estate | $588K | 0.0% | 45K | New | |||
| 87 | $AGNC | AGNC Investment Corp. | Real Estate | $544K | 0.0% | 50K | New | |||
| 88 | $NLY | ANNALY CAPITAL MANAGEMENT INC | Real Estate | $528K | 0.0% | 24K | New | |||
| 89 | $BMY | BRISTOL MYERS SQUIBB CO | Healthcare | $519K | 0.0% | 9,014 | New | |||
| 90 | $EH | EHang Holdings Ltd | Industrials | $504K | 0.0% | 77K | — | |||
| 91 | $GFS | GLOBALFOUNDRIES Inc. | Technology | $471K | 0.0% | 5,719 | New | |||
| 92 | $PFE | PFIZER INC | Healthcare | $469K | 0.0% | 19K | New | |||
| 93 | $AMAT | APPLIED MATERIALS INC /DE | Technology | $168K | 0.0% | 232 | New | |||
| 94 | $CCO | Clear Channel Outdoor Holdings, Inc. | Technology | $142K | 0.0% | 58K | — | |||
| 95 | $BTDR CALL | Bitdeer Technologies Group | Financials | $0 | — | 682K | New | |||
| 96 | $BSX CALL | BOSTON SCIENTIFIC CORP | Healthcare | $0 | — | 38K | New | |||
| 97 | $MSFT CALL | MICROSOFT CORP | Technology | $0 | — | 8,500 | -18% | |||
| 98 | $JPM CALL | JPMORGAN CHASE & CO | Financials | $0 | — | 539K | New | |||
| 99 | $NFLX CALL | NETFLIX INC | Communication Services | $0 | — | 30K | New | |||
| 100 | $AU CALL | AngloGold Ashanti PLC | Materials | $0 | — | 10K | New |
What changed in Q2 2026
Against the previous quarter's 13F: 31 new, 36 added to, 23 trimmed, 43 sold out. Share-count changes; largest moves by dollar size first.
New positions (31)
first bought this quarter
$CLSCELESTICA INC$70.5M
first bought this quarter
$SPCXSPACE EXPLORATION TECHNOLOGIES CORP$28.8Mfirst bought this quarter
$AEMAGNICO EAGLE MINES LTD$17.6M
first bought this quarter
$FNVFRANCO NEVADA Corp$17.5M
first bought this quarter
$RAMPLiveRamp Holdings, Inc.$8.8M
first bought this quarter
+25 more in the Excel export
Added to (36)
now $511.5M · held 9 qtrs, 2 adds in a row
now $473.7M · held 8 qtrs
now $494.5M · held 9 qtrs, 2 adds in a row
now $376.2M · held 4 qtrs, 4 adds in a row
now $386.4M · held 12+ qtrs, 6 adds in a row
now $231.9M · held 12+ qtrs
+30 more in the Excel export
Trimmed (23)
$XYZBlock, Inc.-60%
now $97.8M · held 12+ qtrs, 2 trims in a row
now $200.5M · held 10 qtrs, 5 trims in a row
$ANETArista Networks, Inc.-90%
now $12.3M · held 9 qtrs, 2 trims in a row
$NOWServiceNow, Inc.-75%
now $36.9M · held 12+ qtrs, 2 trims in a row
now $322.6M · held 12+ qtrs
now $122.7M · held 4 qtrs
+17 more in the Excel export
Holdings by quarter
Every 13F Carmignac Gestion has filed, 39 earlier quarters. Pick one to see what it held then.
Is it too late to follow Carmignac Gestion?
Q2 2026 13F filed with the SEC on Aug 13, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Carmignac Gestion's top 20 holdings: 76/100 (our AI quality score, weighted by position size; 20 of the 20 are scored)
Top 10 since filing
+0.4%
Value-weighted move of the 10 largest stock positions
Turnover
19%
Last quarter; 79% over the last 4
Top 10 weight
61%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
86%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q3 2023 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Carmignac Gestion disclosed 100 positions worth $7.7B in its Form 13F-HR for Q2 2026, led by $NVDA (NVIDIA CORP) at 12.4% of the equity portfolio, followed by $AVGO and $COR. During the quarter the fund opened 31 new positions and exited 43 — including a new stake in $ZTS and a full exit from $CRM. The portfolio is most concentrated in Technology (38.6% of disclosed assets). All figures are sourced directly from Carmignac Gestion’s Form 13F-HR filing with the SEC under CIK 1569758.
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Every holding in Carmignac Gestion's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.