Abc Arbitrage SA
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Abc Arbitrage SA reported 196 stock positions worth $875.2 million. Its top holding was Ericsson (lm) Tel-SP ADR (ERIC) at 5.0% of the portfolio, followed by British American Tob-SP ADR (BTI, 4.7%) and Vodafone Group PLC-SP ADR (VOD, 3.6%). Compared with Q1 2025, it opened 93 new positions, sold out of 88, added to 68 and reduced 35. The biggest buy was a new position in Novartis AG-Sponsored ADR (NVS) and the biggest sale an exit from Gold Fields Ltd.-Spons ADR (GFI).
- Most Recent 13F
- Q2 2026
- Location
- PARIS, I0
- CIK
- 0002049221
- Portfolio Value
- $875.2M (Q2 2025)
- SEC Filing
- 0000945621-25-000681 ↗ filed Aug 8, 2025
Holdings Value
Holdings 196 stocks · $875.2M
| ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS | 4.96% | 5,121,349 | $43.4M | Add +64.6% |
| BTI British American Tob-SP ADR | 4.66% | 862,252 | $40.8M | Add +87.8% |
| VOD Vodafone Group PLC-SP ADR | 3.62% | 2,972,904 | $31.7M | Add +116.3% |
| DEO Diageo PLC-Sponsored ADR | 3.56% | 309,277 | $31.2M | Add +84.0% |
| RELX Relx PLC - Spon ADR | 3.48% | 560,958 | $30.5M | Add +188.9% |
| SNN Smith & Nephew PLC -Spon ADR | 3.15% | 898,635 | $27.5M | Add +1063.4% |
| NVS Novartis AG-Sponsored ADR | 2.89% | 208,708 | $25.3M | New |
| RIO Rio Tinto PLC-Spon ADR | 2.65% | 398,115 | $23.2M | Add +42.3% |
| CUK Carnival PLC-ADR | 2.60% | 893,500 | $22.8M | Add +17.6% |
| PUK Prudential PLC-ADR | 2.23% | 778,900 | $19.5M | Add +8.4% |
| TS Tenaris SA-ADR | 2.00% | 467,268 | $17.5M | Add +252.6% |
| BP BP PLC-Spons ADR | 1.93% | 563,350 | $16.9M | Add +253.7% |
| CX Cemex Sab-Spons ADR Part Cer | 1.77% | 2,235,569 | $15.5M | New |
| AZN Astrazeneca PLC-Spons ADR | 1.75% | 219,531 | $15.3M | Reduce -20.1% |
| MT Arcelormittal-NY Registered | 1.67% | 464,169 | $14.7M | Reduce -17.2% |
| SAP Sap SE-Sponsored ADR | 1.44% | 41,448 | $12.6M | New |
| NWG Natwest Group PLC -Spon ADR | 1.38% | 853,854 | $12.1M | Add +46.2% |
| IHG Intercontinental Hotels-ADR | 1.37% | 103,927 | $12.0M | New |
| NGG National Grid PLC-SP ADR | 1.31% | 154,546 | $11.5M | Reduce -35.4% |
| RTO Rentokil Initial PLC-SP ADR | 1.26% | 459,270 | $11.0M | Add +775.9% |
| HLN Haleon PLC-ADR | 1.25% | 1,051,461 | $10.9M | Add +8636.0% |
| BCS Barclays PLC-Spons ADR | 1.21% | 570,607 | $10.6M | New |
| HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC | 1.19% | 170,779 | $10.4M | Add +237.1% |
| GMAB Genmab A/S -SP ADR | 1.06% | 447,055 | $9.2M | New |
| SBSW Sibanye-Stillwater Ltd.-ADR | 0.92% | 1,119,817 | $8.1M | New |
| SHEL Shell PLC-ADR | 0.85% | 105,129 | $7.4M | Add +89.6% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.80% | 101,613 | $7.0M | Add +261.4% |
| GMS GMS Inc. | 0.80% | 64,029 | $7.0M | New |
| BPMC Blueprint Medicines Corp. | 0.77% | 52,650 | $6.7M | New |
| SPTN Spartannash Co. | 0.76% | 252,357 | $6.7M | New |
| MAG Mag Silver Corp. | 0.76% | 314,486 | $6.6M | New |
| BRDG Bridge Investment Grp HDS-A | 0.75% | 659,231 | $6.6M | New |
| FMS Fresenius Medical Care-ADR | 0.75% | 229,375 | $6.6M | Add +18.2% |
| HONE Harborone Bancorp Inc. | 0.74% | 557,561 | $6.5M | New |
| EQNR Equinor ASA-Spon ADR | 0.74% | 256,777 | $6.5M | Reduce -43.2% |
| FYBR Frontier Communications Pare | 0.73% | 174,796 | $6.4M | Add +22.4% |
| PPBI Pacific Premier Bancorp Inc. | 0.71% | 295,961 | $6.2M | New |
| PRA Proassurance Corp. | 0.71% | 273,207 | $6.2M | Add +14.5% |
| UL Unilever PLC | 0.70% | 100,174 | $6.1M | Reduce -59.2% |
| STR Sitio Royalties Corp. Class A | 0.69% | 329,196 | $6.1M | New |
| INFA Informatica Inc. Class A | 0.66% | 238,224 | $5.8M | New |
| RYAAY Ryanair Holdings PLC-SP ADR | 0.66% | 100,237 | $5.8M | Add +180.4% |
| PHG Koninklijke Philips NVR- NY | 0.66% | 240,461 | $5.8M | Add +137.8% |
| VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP | 0.62% | 199,263 | $5.5M | Add +252.0% |
| ING ING Groep N.V.-Sponsored ADR | 0.59% | 236,873 | $5.2M | Reduce -27.0% |
| FARO Faro Technologies Inc. | 0.58% | 115,874 | $5.1M | New |
| SWTX Springworks Therapeutics Inc. | 0.58% | 107,630 | $5.1M | New |
| RDUS Radius Recycling Inc. Class A | 0.54% | 157,911 | $4.7M | Add +65.0% |
| ALE Allete Inc. | 0.53% | 72,866 | $4.7M | Reduce -12.5% |
| WDS Woodside Energy Group-ADR | 0.52% | 295,923 | $4.6M | Add +1199.9% |
| CDNS Cadence Design SYS Inc. | 0.52% | 14,724 | $4.5M | New |
| MS Morgan Stanley | 0.52% | 32,046 | $4.5M | New |
| DOW Dow Inc. | 0.51% | 168,198 | $4.5M | Add +447.2% |
| ED Consolidated Edison Inc. | 0.51% | 44,165 | $4.4M | New |
| STLD Steel Dynamics Inc. | 0.50% | 34,382 | $4.4M | New |
| AMED Amedisys Inc. | 0.50% | 44,498 | $4.4M | Add +181.4% |
| USB US Bancorp | 0.49% | 94,637 | $4.3M | New |
| STM Stmicroelectronics NV-NY SHS | 0.45% | 129,586 | $3.9M | Add +35.2% |
| EBTC Enterprise Bancorp Inc. | 0.43% | 94,071 | $3.7M | Add +4.2% |
| UDR Udr Inc. | 0.42% | 89,898 | $3.7M | New |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.42% | 40,109 | $3.7M | New |
| OKE Oneok Inc. | 0.42% | 44,714 | $3.7M | New |
| WM Waste Management Inc. | 0.41% | 15,703 | $3.6M | Add +62.8% |
| K Kellanova | 0.37% | 40,649 | $3.2M | Reduce -35.9% |
| LEN Lennar Corp. Class A | 0.36% | 28,190 | $3.1M | Add +270.3% |
| EWQ iShares MSCI France ETF | 0.35% | 70,638 | $3.0M | Add +29.3% |
| EWG iShares MSCI Germany ETF | 0.34% | 71,155 | $3.0M | Add +37.2% |
| COP Conocophillips | 0.33% | 32,509 | $2.9M | New |
| HMC Honda Motor Co. Ltd.-Spons ADR | 0.33% | 99,314 | $2.9M | Add +77.2% |
| IR Ingersoll-Rand Inc. | 0.32% | 33,685 | $2.8M | New |
| SSBK Southern States Bancshares | 0.32% | 76,216 | $2.8M | Add +442.5% |
| EWJ iShares MSCI Japan ETF | 0.31% | 36,066 | $2.7M | Add +12.5% |
| ATO Atmos Energy Corp. | 0.29% | 16,576 | $2.6M | New |
| PAYX Paychex Inc. | 0.29% | 17,482 | $2.5M | New |
| NEE Nextera Energy Inc. | 0.28% | 35,012 | $2.4M | Add +59.5% |
| DTE DTE Energy Company | 0.28% | 18,330 | $2.4M | New |
| MA Mastercard Inc. Class A | 0.27% | 4,267 | $2.4M | Add +152.6% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.27% | 33,779 | $2.3M | New |
| TV Grupo Televisa SA-Spon ADR | 0.27% | 1,059,866 | $2.3M | New |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.26% | 57,191 | $2.3M | New |
| JNJ Johnson & Johnson | 0.26% | 14,791 | $2.3M | New |
| ZTS Zoetis Inc. | 0.26% | 14,387 | $2.2M | New |
| VEA Vanguard Ftse Developed ETF | 0.25% | 38,984 | $2.2M | New |
| SNREY Sunrise Communicat Class A | 0.25% | 38,688 | $2.2M | Reduce -24.1% |
| EZU iShares MSCI Eurozone ETF | 0.25% | 36,605 | $2.2M | New |
| ZG Zillow Group Inc. Class A | 0.24% | 31,227 | $2.1M | Add +390.1% |
| EQIX Equinix Inc. | 0.24% | 2,678 | $2.1M | New |
| BBJP JPMorgan Betabuilders Japan | 0.24% | 33,982 | $2.1M | Reduce -50.5% |
| LOW Lowe's Cos Inc. | 0.24% | 9,385 | $2.1M | New |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.24% | 30,693 | $2.1M | New |
| MCD McDonald's Corp. | 0.23% | 7,002 | $2.0M | New |
| ETWO E2OPEN Parent Holdings Inc. | 0.23% | 630,839 | $2.0M | New |
| LULU Lululemon Athletica Inc. | 0.23% | 8,572 | $2.0M | New |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.23% | 16,479 | $2.0M | New |
| CPRT Copart Inc. | 0.23% | 40,975 | $2.0M | New |
| LMT Lockheed Martin Corp. | 0.22% | 4,233 | $2.0M | Add +27.5% |
| CTAS Cintas Corp. | 0.22% | 8,785 | $2.0M | New |
| UPS United Parcel Service Class B | 0.22% | 19,321 | $2.0M | Add +43.7% |
| VZ Verizon Communications Inc. | 0.22% | 44,944 | $1.9M | Add +93.2% |
| WDAY Workday Inc. Class A | 0.22% | 8,013 | $1.9M | Add +19.4% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $324K (not counted above)
Total filed on the 13F, all lines: $875.5M.
Portfolio Sells Q1 2025 → Q2 2025
| GFI Gold Fields Ltd.-Spons ADR | Sold out | 0.00% | −2.38 |
| UL Unilever PLC | Reduce -59.2% | 0.70% | −2.02 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -20.1% | 1.75% | −2.00 |
| AMX America Movil Sab DE CV | Sold out | 0.00% | −1.65 |
| NGG National Grid PLC-SP ADR | Reduce -35.4% | 1.31% | −1.60 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -90.7% | 0.10% | −1.51 |
| EQNR Equinor ASA-Spon ADR | Reduce -43.2% | 0.74% | −1.49 |
| MT Arcelormittal-NY Registered | Reduce -17.2% | 1.67% | −1.33 |
| ITCI Intra-Cellular Therapies Inc. | Sold out | 0.00% | −1.00 |
| ACCD Accolade Inc. | Sold out | 0.00% | −0.95 |
| HEES H&E Equipment Services Inc. | Sold out | 0.00% | −0.95 |
| TAK Takeda Pharmaceutic-SP ADR | Sold out | 0.00% | −0.93 |
| SNPS Synopsys Inc. | Sold out | 0.00% | −0.92 |
| FBMS First Bancshares Inc. | Sold out | 0.00% | −0.90 |
| FLIC First of Long Island Corp. | Sold out | 0.00% | −0.86 |
| SASR Sandy Spring Bancorp Inc. | Sold out | 0.00% | −0.83 |
| RDFN Redfin Corp. | Reduce -79.8% | 0.13% | −0.74 |
| FRT Federal Realty Invs Trust | Reduce -91.2% | 0.04% | −0.65 |
| NVRO Nevro LLC | Sold out | 0.00% | −0.64 |
| K Kellanova | Reduce -35.9% | 0.37% | −0.60 |
| AVB Avalonbay Communities Inc. | Sold out | 0.00% | −0.60 |
| ING ING Groep N.V.-Sponsored ADR | Reduce -27.0% | 0.59% | −0.59 |
| NUE Nucor Corp. | Sold out | 0.00% | −0.58 |
| MET Metlife Inc. | Reduce -81.8% | 0.07% | −0.56 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.55 |
| DUK Duke Energy Corp. | Sold out | 0.00% | −0.54 |
| GOOG Alphabet Inc. Class C | Reduce -78.0% | 0.10% | −0.53 |
| UAA Under Armour Inc. Class A | Reduce -81.4% | 0.07% | −0.53 |
| CMRX Chimerix Inc. | Sold out | 0.00% | −0.52 |
| ALE Allete Inc. | Reduce -12.5% | 0.53% | −0.48 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.48 |
| TM Toyota Motor Corp. -Spon ADR | Sold out | 0.00% | −0.48 |
| CCRN Cross Country Healthcare Inc. | Sold out | 0.00% | −0.48 |
| BBJP JPMorgan Betabuilders Japan | Reduce -50.5% | 0.24% | −0.48 |
| NOK Nokia Corp.-Spon ADR | Sold out | 0.00% | −0.47 |
| EVBN Evans Bancorp Inc. | Sold out | 0.00% | −0.40 |
| GM General Motors Co. | Reduce -83.2% | 0.05% | −0.39 |
| SYF Synchrony Financial | Sold out | 0.00% | −0.37 |
| HEI.A Heico Corp. Class A | Sold out | 0.00% | −0.34 |
| EOG EOG Resources Inc. | Sold out | 0.00% | −0.34 |
| SCHF Schwab Intl Equity ETF | Sold out | 0.00% | −0.30 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.30 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.30 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.29 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −0.29 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.29 |
| MAR Marriott International Class A | Reduce -61.5% | 0.11% | −0.29 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.29 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.29 |
| MRNA Moderna Inc. | Sold out | 0.00% | −0.29 |
Portfolio Buys Q1 2025 → Q2 2025
| NVS Novartis AG-Sponsored ADR | New | 2.89% | +2.89 |
| SNN Smith & Nephew PLC -Spon ADR | Add +1063.4% | 3.15% | +2.74 |
| CX Cemex Sab-Spons ADR Part Cer | New | 1.77% | +1.77 |
| RELX Relx PLC - Spon ADR | Add +188.9% | 3.48% | +1.66 |
| SAP Sap SE-Sponsored ADR | New | 1.44% | +1.44 |
| IHG Intercontinental Hotels-ADR | New | 1.37% | +1.37 |
| VOD Vodafone Group PLC-SP ADR | Add +116.3% | 3.62% | +1.23 |
| HLN Haleon PLC-ADR | Add +8636.0% | 1.25% | +1.22 |
| BCS Barclays PLC-Spons ADR | New | 1.21% | +1.21 |
| BTI British American Tob-SP ADR | Add +87.8% | 4.66% | +1.13 |
| GMAB Genmab A/S -SP ADR | New | 1.06% | +1.06 |
| RTO Rentokil Initial PLC-SP ADR | Add +775.9% | 1.26% | +1.04 |
| TS Tenaris SA-ADR | Add +252.6% | 2.00% | +1.03 |
| BP BP PLC-Spons ADR | Add +253.7% | 1.93% | +0.93 |
| SBSW Sibanye-Stillwater Ltd.-ADR | New | 0.92% | +0.92 |
| GMS GMS Inc. | New | 0.80% | +0.80 |
| BPMC Blueprint Medicines Corp. | New | 0.77% | +0.77 |
| SPTN Spartannash Co. | New | 0.76% | +0.76 |
| MAG Mag Silver Corp. | New | 0.76% | +0.76 |
| BRDG Bridge Investment Grp HDS-A | New | 0.75% | +0.75 |
| HONE Harborone Bancorp Inc. | New | 0.74% | +0.74 |
| PPBI Pacific Premier Bancorp Inc. | New | 0.71% | +0.71 |
| STR Sitio Royalties Corp. Class A | New | 0.69% | +0.69 |
| INFA Informatica Inc. Class A | New | 0.66% | +0.66 |
| HSBC HSBC Holdings PLC-Spons ADR | Add +237.1% | 1.19% | +0.65 |
| FARO Faro Technologies Inc. | New | 0.58% | +0.58 |
| SWTX Springworks Therapeutics Inc. | New | 0.58% | +0.58 |
| CDNS Cadence Design SYS Inc. | New | 0.52% | +0.52 |
| MS Morgan Stanley | New | 0.52% | +0.52 |
| ED Consolidated Edison Inc. | New | 0.51% | +0.51 |
| STLD Steel Dynamics Inc. | New | 0.50% | +0.50 |
| USB US Bancorp | New | 0.49% | +0.49 |
| BUD Anheuser-Busch Inbev-SPN ADR | Add +261.4% | 0.80% | +0.48 |
| ERIC Ericsson (lm) Tel-SP ADR | Add +64.6% | 4.96% | +0.47 |
| WDS Woodside Energy Group-ADR | Add +1199.9% | 0.52% | +0.46 |
| UDR Udr Inc. | New | 0.42% | +0.42 |
| BNY Bank of New York Mellon Corp. | New | 0.42% | +0.42 |
| OKE Oneok Inc. | New | 0.42% | +0.42 |
| VTMX Corp. Inmobiliaria Vesta-ADR | Add +252.0% | 0.62% | +0.38 |
| RYAAY Ryanair Holdings PLC-SP ADR | Add +180.4% | 0.66% | +0.38 |
| COP Conocophillips | New | 0.33% | +0.33 |
| IR Ingersoll-Rand Inc. | New | 0.32% | +0.32 |
| DOW Dow Inc. | Add +447.2% | 0.51% | +0.31 |
| ATO Atmos Energy Corp. | New | 0.29% | +0.29 |
| PAYX Paychex Inc. | New | 0.29% | +0.29 |
| DEO Diageo PLC-Sponsored ADR | Add +84.0% | 3.56% | +0.29 |
| DTE DTE Energy Company | New | 0.28% | +0.28 |
| NVO Novo-Nordisk A/S-Spons ADR | New | 0.27% | +0.27 |
| TV Grupo Televisa SA-Spon ADR | New | 0.27% | +0.27 |
| SPDW Ste STR SPDR PT DW Eu ETF | New | 0.26% | +0.26 |
Notes & Other Activity Q1 2025 → Q2 2025
| AVPTW Avepoint Inc.-CW24 | *W EXP 09/18/202 | New | 20,887 | $162K |
| ABLLW East Resources Acquis -CW27 | *W EXP 06/30/202 | New | 144,523 | $162K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 313 | $925.7M | DEO, BTI, RIO, LYG, NWG |
| Q1 2026 | 325 | $751.9M | VOD, DEO, SHEL, BP, NGG |
| Q4 2025 | 305 | $1.1B | BTI, HMY, DEO, VOD, ERIC |
| Q3 2025 | 199 | $1.0B | AZN, SBSW, VOD, BTI, DEO |
| Q2 2025 | 196 | $875.2M | ERIC, BTI, VOD, DEO, RELX |
| Q1 2025 | 191 | $538.1M | ERIC, AZN, BTI, DEO, RIO |
| Q4 2024 | 192 | $697.3M | DEO, TS, BTI, BP, VOD |