Carmignac Gestion

CIK

1569758

Location

PARIS, I0

Portfolio Value

Mid $7,842,895,504

Diversification

Diversified

Filing Date

Global Rank

#607 / 8,811 ▲ 8

Top Industry

Semiconductors 19.0%

Period ended 4 months ago

Filed Aug 13, 2026 · 2mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 59.7%, 21.1 effective positions, active share 73.3% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

76.9% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 14.0 quarters (12+), a floor since 31.4% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 73.3%; sector active share 28.1% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

95 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

12.2%

−0.1 pts

Top 5

36.4%

−0.3 pts

Top 10

59.7%

+4.0 pts

HHI

474

Diversified+23

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	32.1%	$2,521,488,945	19
Financial Services	24.2%	$1,897,404,040	13
Healthcare	21.3%	$1,669,127,921	24
Consumer Cyclical	9.8%	$767,104,843	11
Communication Services	6.5%	$512,658,193	7
Industrials	3.1%	$243,137,746	5
Consumer Defensive	1.6%	$122,942,141	7
Energy	0.5%	$39,339,466	1
Basic Materials	0.5%	$36,910,088	3
Real Estate	0.4%	$30,113,461	4
Utilities	0.0%	$2,668,660	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
VNET	VNET Group, Inc.	+4,437,879	4,760,599	$38,275,215
ITUB	Itau Unibanco Holding S.A.	+3,589,092	12,219,314	$99,831,795
TW	Tradeweb Markets Inc.	+1,590,600	3,876,800	$386,361,888
ICE	Intercontinental Exchange, Inc.	+920,153	2,070,226	$254,865,522
AVGO	Broadcom Inc.	+812,504	1,354,155	$511,532,051
COR	Cencora, Inc.	+646,112	1,747,363	$494,468,781
TBBB	Bbb Foods Inc	+563,141	670,106	$27,923,317
GTLB	Gitlab Inc.	+528,612	1,475,612	$45,050,434
VIPS	Vipshop Holdings Ltd	+439,795	4,920,324	$65,243,496
—		+410,125	556,771	$2,895,209
MSFT	Microsoft Corp	+406,850	621,773	$231,933,764
—		+399,449	1,252,648	$0
MA	Mastercard Inc	+352,128	732,598	$376,262,332
EFX	Equifax Inc	+346,080	710,685	$112,799,923
MCK	Mckesson Corp	+309,183	626,904	$473,688,662
APH	Amphenol Corp /De/	+300,527	969,763	$341,977,224
BRK-B	Berkshire Hathaway Inc	+296,705	704,407	$352,478,218
IONS	Ionis Pharmaceuticals Inc	+268,000	321,000	$25,452,090
KVUE	Kenvue Inc.	+262,858	420,432	$8,034,455
NVDA	Nvidia Corp	+229,282	4,795,726	$959,576,815
ALGN	Align Technology Inc	+91,661	316,832	$53,436,885
PH	Parker-Hannifin Corp	+67,832	103,265	$101,005,561
REGN	Regeneron Pharmaceuticals, Inc.	+65,936	182,507	$113,800,414
WBD	Warner Bros. Discovery, Inc.	+40,484	276,857	$7,381,007
—		+28,196	222,221	$16,982,128
No positions match the current search.

Trimmed

Positions the filer reduced

22 positions

Ticker	Company	Δ Shares	Shares	Value
DOCS	Doximity, Inc.	−1,956,097	2,355,900	$48,861,366
XYZ	Block, Inc.	−1,946,800	1,287,026	$97,813,976
NOW	ServiceNow, Inc.	−1,142,046	371,803	$36,912,601
TEAM	Atlassian Corp	−1,026,770	1,577,000	$122,674,830
ANET	Arista Networks, Inc.	−674,569	72,457	$12,308,995
AMZN	Amazon Com Inc	−568,584	841,266	$200,507,338
SFM	Sprouts Farmers Market, Inc.	−323,270	375,200	$31,734,416
GOOGL	Alphabet Inc.	−191,258	1,154,334	$412,524,341
SLB	Slb Limited/Nv	−100,000	846,192	$39,339,466
GL	Globe Life Inc.	−62,900	107,100	$19,136,628
MELI	Mercadolibre Inc	−59,357	190,098	$322,670,444
CL	Colgate Palmolive Co	−37,059	199,143	$18,257,430
SPGI	S&P Global Inc.	−35,881	919,140	$374,328,943
BNTX	BioNTech SE	−32,836	79,875	$7,432,368
PG	PROCTER & GAMBLE Co	−11,347	76,813	$11,263,858
META	Meta Platforms, Inc.	−10,850	103,560	$58,334,312
CHD	Church & Dwight Co Inc /De/	−6,089	90,997	$8,815,789
HD	Home Depot, Inc.	−4,360	26,374	$9,301,582
ABNB	Airbnb, Inc.	−3,000	656,570	$93,955,167
V	Visa Inc.	−607	1,721	$590,457
RPRX	Royalty Pharma plc	−500	630,700	$35,363,349
TMO	Thermo Fisher Scientific Inc.	−101	15,727	$7,884,888
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
ZTS	Zoetis Inc.	1,575,700	$113,229,802
CLS	Celestica Inc	193,200	$70,479,360
SPCX	Space Exploration Technologies Corp	168,723	$28,828,011
AEM	Agnico Eagle Mines Ltd	113,584	$17,620,285
FNV	FRANCO NEVADA Corp	83,723	$17,451,222
RAMP	LiveRamp Holdings, Inc.	234,126	$8,812,502
TECH	BIO-TECHNE Corp	124,530	$8,798,044
OGN	Organon & Co.	448,606	$6,074,125
—		44,475	$5,903,166
—		410,119	$4,802,493
PAYO	Payoneer Global Inc.	426,354	$3,035,640
CZR	Caesars Entertainment, Inc.	100,508	$3,033,331
—		960,179	$2,986,156
—		316,463	$2,971,587
—		89,418	$2,224,719
CRH	Crh Public Ltd Co	17,183	$1,838,581
DX	Dynex Capital Inc	44,846	$587,931
AGNC	AGNC Investment Corp.	49,928	$544,215
NLY	Annaly Capital Management Inc	23,612	$527,964
BMY	Bristol Myers Squibb Co	9,014	$519,386
GFS	GLOBALFOUNDRIES Inc.	5,719	$471,302
PFE	Pfizer Inc	19,475	$468,958
AMAT	Applied Materials Inc /De	232	$167,736
—		1,659,399	$0
—		47,657	$0
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
CRM	Salesforce, Inc.	974,129	$181,840,660
BKNG	Booking Holdings Inc.	14,742	$62,068,537
WDAY	Workday, Inc.	457,500	$59,438,400
CRDO	Credo Technology Group Holding Ltd	364,500	$34,215,615
KLAC	Kla Corp	9,000	$13,251,690
ALAB	Astera Labs, Inc.	60,000	$6,576,000
MU	Micron Technology Inc	15,000	$5,067,600
KEYS	Keysight Technologies, Inc.	10,000	$2,823,700
TWLO	Twilio Inc	20,000	$2,516,400
P	Everpure, Inc.	40,000	$2,361,600
—		84,106	$2,305,345
CSCO	Cisco Systems, Inc.	15,796	$1,225,611
AAPL	Apple Inc.	4,785	$1,214,385
COST	Costco Wholesale Corp /New	1,151	$1,146,890
SUNB	Sunbelt Rentals Holdings, Inc.	15,591	$1,014,818
JPM	Jpmorgan Chase & Co	3,308	$973,081
MAR	Marriott International Inc /Md/	2,838	$928,224
HLT	Hilton Worldwide Holdings Inc.	2,990	$909,199
LLY	ELI LILLY & Co	584	$537,145
ACN	Accenture plc	2,665	$528,442
INTU	Intuit Inc.	1,164	$503,290
NFLX	Netflix Inc	3,071	$295,276
—		30,525	$0
—		103,097	$0
—		217,263	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

95 tracked positions · $7,842,895,504 total · filing declares 100 positions · $7,705,397,907 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 95 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
NVDA	Nvidia Corp Technology	Added	4,795,726	+229,282	$959,576,815	+20.5%	26+	before history	12.23%
AVGO	Broadcom Inc. Technology	Added	1,354,155	+812,504	$511,532,051	+205.1%	9	$353.84	6.52%
COR	Cencora, Inc. Healthcare	Added	1,747,363	+646,112	$494,468,781	+42.9%	9	$268.69	6.30%
MCK	Mckesson Corp Healthcare	Added	626,904	+309,183	$473,688,662	+72.3%	8	$689.49	6.04%
GOOGL	Alphabet Inc. Communication Services	Reduced	1,154,334	-191,258	$412,524,341	+6.6%	26+	before history	5.26%
TW	Tradeweb Markets Inc. Financial Services	Added	3,876,800	+1,590,600	$386,361,888	+43.6%	17	$111.73	4.93%
MA	Mastercard Inc Financial Services	Added	732,598	+352,128	$376,262,332	+97.9%	4	$532.22	4.80%
SPGI	S&P Global Inc. Financial Services	Reduced	919,140	-35,881	$374,328,943	−7.8%	18	unpriced	4.77%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	704,407	+296,705	$352,478,218	+80.4%	2	$486.62	4.49%
APH	Amphenol Corp /De/ Technology	Added	969,763	+300,527	$341,977,224	+102.2%	8	unpriced	4.36%
MELI	Mercadolibre Inc Consumer Cyclical	Reduced	190,098	-59,357	$322,670,444	−25.2%	26+	before history	4.11%
ICE	Intercontinental Exchange, Inc. Financial Services	Added	2,070,226	+920,153	$254,865,522	+40.9%	26+	before history	3.25%
MSFT	Microsoft Corp Technology	Added	621,773	+396,450	$231,933,764	+191.5%	26+	before history	2.96%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	841,266	-568,584	$200,507,338	−31.7%	26+	before history	2.56%
LNTH	Lantheus Holdings, Inc. Healthcare	Added	1,340,100	+12,100	$148,670,694	+47.6%	9	$69.22	1.90%
TEAM	Atlassian Corp Technology	Reduced	1,577,000	-1,026,770	$122,674,830	−31.0%	4	$125.76	1.56%
REGN	Regeneron Pharmaceuticals, Inc. Healthcare	Added	182,507	+65,936	$113,800,414	+26.4%	3	$711.24	1.45%
ZTS	Zoetis Inc. Healthcare	NEW	1,575,700	NEW	$113,229,802	NEW	1	$94.14	1.44%
EFX	Equifax Inc Industrials	Added	710,685	+346,080	$112,799,923	+71.8%	8	$213.54	1.44%
PH	Parker-Hannifin Corp Industrials	Added	103,265	+67,832	$101,005,561	+218.4%	2	$926.50	1.29%
ITUB	Itau Unibanco Holding S.A. Financial Services	Added	12,219,314	+3,589,092	$99,831,795	+38.0%	11	unpriced	1.27%
XYZ	Block, Inc. Technology	Reduced	1,287,026	-1,946,800	$97,813,976	−49.7%	15	$69.33	1.25%
ABNB	Airbnb, Inc. Consumer Cyclical	Reduced	656,570	-3,000	$93,955,167	+12.8%	5	$127.97	1.20%
VRTX	Vertex Pharmaceuticals Inc / Ma Healthcare	Added	163,045	+14,846	$80,989,342	+22.4%	9	$448.10	1.03%
CLS	Celestica Inc Technology	NEW	193,200	NEW	$70,479,360	NEW	1	$375.26	0.90%
VIPS	Vipshop Holdings Ltd Consumer Cyclical	Added	4,920,324	+439,795	$65,243,496	−7.4%	13	$15.69	0.83%
SE	Sea Ltd Consumer Cyclical	Added	651,818	+14,242	$62,463,718	+18.3%	26+	before history	0.80%
META	Meta Platforms, Inc. Communication Services	Reduced	103,560	-10,850	$58,334,312	−10.9%	17	$610.48	0.74%
ALGN	Align Technology Inc Healthcare	Added	316,832	+91,661	$53,436,885	+38.4%	18	$177.55	0.68%
DOCS	Doximity, Inc. Healthcare	Reduced	2,355,900	-1,956,097	$48,861,366	−51.4%	9	$40.45	0.62%
GTLB	Gitlab Inc. Technology	Added	1,475,612	+528,612	$45,050,434	+119.8%	4	$37.68	0.57%
SLB	Slb Limited/Nv Energy	Reduced	846,192	-100,000	$39,339,466	−19.1%	4	$34.80	0.50%
VNET	VNET Group, Inc. Technology	Added	4,760,599	+4,437,879	$38,275,215	+1313.6%	6	$9.01	0.49%
NOW	ServiceNow, Inc. Technology	Reduced	371,803	-1,142,046	$36,912,601	−76.7%	17	unpriced	0.47%
NBIX	Neurocrine Biosciences Inc Healthcare	Added	214,100	+28,100	$36,084,414	+47.3%	3	$138.36	0.46%
RPRX	Royalty Pharma plc Healthcare	Reduced	630,700	-500	$35,363,349	+16.8%	2	$43.80	0.45%
SFM	Sprouts Farmers Market, Inc. Consumer Defensive	Reduced	375,200	-323,270	$31,734,416	−41.1%	3	$86.08	0.40%
SPCX	Space Exploration Technologies Corp Industrials	NEW	168,723	NEW	$28,828,011	NEW	1	unpriced	0.37%
VTMX	Vesta Real Estate Corporation, S.A.B. de C.V. Real Estate	Added	829,302	+6,857	$28,453,351	+3.8%	12	$34.80	0.36%
TBBB	Bbb Foods Inc Consumer Defensive	Added	670,106	+563,141	$27,923,317	+638.1%	2	$37.66	0.36%
IONS	Ionis Pharmaceuticals Inc Healthcare	Added	321,000	+268,000	$25,452,090	+539.5%	2	$75.86	0.32%
TME	Tencent Music Entertainment Group Communication Services	Added	2,903,426	+22,273	$24,243,607	−9.3%	11	$14.57	0.31%
KSPI	Joint Stock Co Kaspi.kz Technology	Added	226,666	+2,138	$19,638,342	+18.1%	9	$110.51	0.25%
GL	Globe Life Inc. Financial Services	Reduced	107,100	-62,900	$19,136,628	−19.1%	7	$129.42	0.24%
CL	Colgate Palmolive Co Consumer Defensive	Reduced	199,143	-37,059	$18,257,430	−9.3%	4	$80.74	0.23%
AEM	Agnico Eagle Mines Ltd Basic Materials	NEW	113,584	NEW	$17,620,285	NEW	1	$185.24	0.22%
FNV	FRANCO NEVADA Corp Basic Materials	NEW	83,723	NEW	$17,451,222	NEW	1	$233.09	0.22%
		Added	222,221	+28,196	$16,982,128	+26.1%	2	$69.00	0.22%
EDU	New Oriental Education & Technology Group Inc. Consumer Defensive	Added	368,392	+3,006	$16,912,876	−18.3%	21	$51.98	0.22%
ANET	Arista Networks, Inc. Technology	Reduced	72,457	-674,569	$12,308,995	−86.6%	9	unpriced	0.16%

Showing the top 50 of 95 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.