BDF-Gestion

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 23, 2025), BDF-Gestion reported 136 stock positions worth $974.8 million. Its top holding was Apple (AAPL) at 9.8% of the portfolio, followed by Microsoft (MSFT, 9.4%) and Nvidia (NVDA, 9.2%). Compared with Q3 2024, it opened 6 new positions, sold out of 20, added to 6 and reduced 124. The biggest buy was a new position in JPMorgan Chase (JPM) and the biggest sale an exit from Analog Devices (ADI).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001632812
Portfolio Value
$974.8M (Q4 2024)
SEC Filing
0001632812-25-000002 ↗ filed Jan 23, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q2 2024: $1.0B Q2 2024 Q3 2024: $931.0M Q3 2024 Q4 2024: $974.8M $974.8M Q4 2024 Q1 2025: $916.6M Q1 2025 Q2 2025: $893.5M Q2 2025 Q3 2025: $840.0M Q3 2025 Q4 2025: $813.9M Q4 2025 Q1 2026: $748.6M Q1 2026 Q2 2026: $746.8M Q2 2026

Holdings 136 stocks · $974.8M
AAPL Apple Inc. 9.81% 381,923 $95.6M Reduce -11.5%
MSFT Microsoft Corp. 9.38% 216,889 $91.4M Reduce -6.6%
NVDA Nvidia Corp. 9.20% 667,779 $89.7M Reduce -11.5%
GOOG Alphabet Inc. Class C 4.21% 215,262 $41.0M Reduce -11.5%
AVGO Broadcom Inc. 2.92% 122,572 $28.4M Reduce -11.5%
META Meta Platforms Inc. Class A 2.83% 47,189 $27.6M Reduce -11.5%
TSLA Tesla Inc. 2.23% 53,812 $21.7M Reduce -11.5%
LLY Eli Lilly & Co. 2.12% 26,724 $20.6M Reduce -11.5%
JPM JPMorgan Chase & Co. 1.78% 72,211 $17.3M New
V Visa Inc. Class A 1.57% 48,382 $15.3M Reduce -11.5%
UNH Unitedhealth Group Inc. 1.56% 30,050 $15.2M Add +7.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.43% 317,798 $14.0M Reduce -11.5%
HD Home Depot Inc. 1.35% 33,764 $13.1M Reduce -17.6%
GS Goldman Sachs Group Inc. 1.28% 21,736 $12.4M Reduce -1.8%
MA Mastercard Inc. Class A 1.20% 22,204 $11.7M Reduce -11.5%
MRK Merck & Co. Inc. 1.05% 102,478 $10.2M Reduce -11.5%
ABBV Abbvie Inc. 0.98% 53,861 $9.6M Reduce -11.5%
PG The Procter & Gamble Co. 0.94% 54,703 $9.2M Reduce -11.5%
EA Electronic Arts Inc. 0.91% 60,520 $8.9M Reduce -11.5%
AMD Advanced Micro Devices 0.90% 72,324 $8.7M Reduce -11.5%
CRM Salesforce Inc. 0.86% 25,137 $8.4M Reduce -11.5%
VZ Verizon Communications Inc. 0.84% 205,790 $8.2M Reduce -11.5%
NOW ServiceNow Inc. 0.83% 7,629 $8.1M Reduce -11.5%
ACN Accenture PLC Class A 0.81% 22,449 $7.9M Reduce -11.5%
MSI Motorola Solutions Inc. 0.80% 16,912 $7.8M Reduce -11.5%
BKNG Booking Holdings Inc. 0.78% 1,540 $7.7M Reduce -11.6%
ABT Abbott Laboratories 0.76% 65,164 $7.4M Reduce -11.5%
TMO Thermo Fisher Scientific Inc. 0.73% 13,650 $7.1M Reduce -11.5%
CDW CDW Corp. 0.70% 38,999 $6.8M Reduce -11.5%
C Citigroup Inc. 0.69% 95,564 $6.7M Add +57.1%
KO The Coca-Cola Co. 0.66% 103,196 $6.4M Reduce -11.5%
DDOG Datadog Inc. Class A 0.65% 44,562 $6.4M Add +31.0%
CSCO Cisco Systems Inc. 0.65% 106,948 $6.3M Reduce -11.5%
INTU Intuit Inc. 0.62% 9,689 $6.1M Reduce -11.5%
BKT BlackRock Income Trust 0.61% 5,824 $6.0M New
GE General Electric filed as GE AEROSPACE 0.58% 33,691 $5.6M Reduce -11.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.57% 46,046 $5.6M Reduce -24.6%
ADSK Autodesk Inc. 0.56% 18,396 $5.4M Reduce -46.3%
ADP Automatic Data Processing 0.56% 18,552 $5.4M Reduce -11.5%
MDLZ Mondelez International Inc. Class A 0.55% 90,482 $5.4M Reduce -11.5%
PLD Prologis Inc. 0.55% 51,130 $5.4M Add +6.2%
SCI Service Corp. International 0.54% 65,936 $5.3M Reduce -11.5%
ADBE Adobe Inc. 0.53% 11,712 $5.2M Reduce -11.5%
ALL Allstate Corp. 0.53% 26,912 $5.2M Add +40.8%
AXP American Express Co. 0.53% 17,271 $5.1M Reduce -11.5%
DECK Deckers Outdoor Corp. 0.51% 24,693 $5.0M Reduce -11.5%
LIN Linde PLC 0.51% 11,947 $5.0M Reduce -11.5%
SPG Simon Property Group Inc. 0.51% 28,608 $4.9M Reduce -25.8%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.50% 67,540 $4.8M Reduce -25.8%
MET Metlife Inc. 0.49% 58,117 $4.8M Reduce -11.5%
MU Micron Technology Inc. 0.47% 54,874 $4.6M Reduce -11.5%
DHR Danaher Corp. 0.45% 19,091 $4.4M Reduce -11.5%
SPGI S&P Global Inc. 0.45% 8,769 $4.4M Reduce -11.5%
BR Broadridge Financial Solutio 0.41% 17,761 $4.0M Reduce -11.5%
SYK Stryker Corp. 0.41% 11,116 $4.0M Reduce -11.5%
RSG Republic Services Inc. 0.41% 19,697 $4.0M Reduce -11.5%
FITB Fifth Third Bancorp 0.40% 93,062 $3.9M Reduce -11.5%
JLL Jones Lang Lasalle Inc. 0.40% 15,306 $3.9M Reduce -11.5%
HIG Hartford Insurance Group Inc. 0.39% 35,043 $3.8M Reduce -11.5%
DXCM Dexcom Inc. 0.39% 48,703 $3.8M New
TMUS T-Mobile US Inc. 0.39% 17,152 $3.8M Add +55.9%
VTR Ventas Inc. 0.39% 64,167 $3.8M Reduce -11.5%
FISV Fiserv Inc. 0.39% 18,387 $3.8M Reduce -8.1%
ISRG Intuitive Surgical Inc. 0.38% 7,101 $3.7M Reduce -11.5%
CSX CSX Corp. 0.38% 114,631 $3.7M Reduce -11.5%
OC Owens Corning 0.38% 21,549 $3.7M Reduce -11.5%
BSX Boston Scientific Corp. 0.38% 41,029 $3.7M Reduce -11.5%
EW Edwards Lifesciences Corp. 0.37% 49,330 $3.7M Reduce -11.5%
QCOM Qualcomm Inc. 0.37% 23,546 $3.6M Reduce -11.5%
ELV Elevance Health Inc. 0.36% 9,534 $3.5M Reduce -11.5%
AMAT Applied Materials Inc. 0.36% 21,473 $3.5M Reduce -48.4%
ANET Arista Networks Inc. 0.34% 30,084 $3.3M Reduce -11.5%
CL Colgate-Palmolive Co. 0.34% 36,119 $3.3M Reduce -11.5%
CTSH Cognizant Tech Solutions-A 0.33% 41,646 $3.2M Reduce -11.5%
REGENERON PHARMACEUTICALS 0.33% 4,453 $3.2M Reduce -11.5%
AMP Ameriprise Financial Inc. 0.32% 5,875 $3.1M Reduce -11.5%
MAR Marriott International Class A 0.32% 11,027 $3.1M Reduce -11.5%
BURL Burlington Stores Inc. 0.31% 10,750 $3.1M New
MCK McKesson Corp. 0.31% 5,309 $3.0M Reduce -11.5%
TRU Transunion 0.31% 32,594 $3.0M Reduce -11.5%
HON Honeywell International Inc. 0.30% 13,111 $3.0M Reduce -11.5%
HUM Humana Inc. 0.30% 11,618 $2.9M New
EQIX Equinix Inc. 0.30% 3,109 $2.9M Reduce -11.6%
GM General Motors Co. 0.30% 54,980 $2.9M Reduce -11.5%
PAYX Paychex Inc. 0.30% 20,870 $2.9M Reduce -11.5%
AZO AutoZone Inc. 0.30% 907 $2.9M Reduce -11.7%
PPG PPG Industries Inc. 0.30% 24,271 $2.9M Reduce -11.5%
URI United Rentals Inc. 0.30% 4,102 $2.9M Reduce -11.5%
CATERPILLAR INC 0.30% 7,964 $2.9M Reduce -11.5%
ICE Intercontinental Exchange Inc. 0.28% 18,419 $2.7M Reduce -11.5%
COO The Cooper Cos Inc. 0.28% 29,592 $2.7M Reduce -11.5%
RMD Resmed Inc. 0.28% 11,791 $2.7M Reduce -11.5%
VRSK Verisk Analytics Inc. 0.27% 9,607 $2.6M Reduce -11.5%
RGLD Royal Gold Inc. 0.27% 19,885 $2.6M Reduce -8.1%
DE Deere & Co. 0.27% 6,136 $2.6M Reduce -11.5%
JNJ Johnson & Johnson 0.27% 32,777 $2.6M Reduce -11.5%
SNPS Synopsys Inc. 0.26% 5,250 $2.5M Reduce -11.5%
EHC Encompass Health Corp. 0.26% 27,292 $2.5M Reduce -11.5%
LH Labcorp Holdings Inc. 0.26% 10,923 $2.5M Reduce -11.5%
A Agilent Technologies Inc. 0.26% 18,580 $2.5M Reduce -11.5%
OTIS Otis Worldwide Corp. 0.25% 26,788 $2.5M Reduce -11.5%
PKG Packaging Corp. of America 0.25% 10,785 $2.4M Reduce -11.5%
ETN Eaton Corp. PLC 0.24% 7,079 $2.3M Reduce -11.5%
CI The Cigna Group 0.24% 8,381 $2.3M Reduce -11.5%
STT State Street Corp. 0.24% 23,398 $2.3M Reduce -11.5%
WAB Wabtec Corp. 0.23% 12,000 $2.3M New
J Jacobs Solutions Inc. 0.23% 16,661 $2.2M Reduce -8.1%
STE Steris PLC 0.22% 10,659 $2.2M Reduce -11.5%
DD Dupont DE Nemours Inc. 0.22% 28,718 $2.2M Reduce -11.5%
APD Air Products & Chemicals Inc. 0.22% 7,490 $2.2M Reduce -11.5%
GIS General Mills Inc. 0.22% 33,772 $2.2M Reduce -11.5%
WDAY Workday Inc. Class A 0.22% 8,317 $2.1M Reduce -11.5%
GENPACT LIMITED 0.21% 48,278 $2.1M Reduce -11.5%
BAH Booz Allen Hamilton Holdings 0.20% 15,185 $2.0M Reduce -11.5%
CMI Cummins Inc. 0.20% 5,593 $1.9M Reduce -11.5%
SWK Stanley Black & Decker Inc. 0.20% 24,005 $1.9M Reduce -11.5%
CHD Church & Dwight Co. Inc. 0.19% 18,140 $1.9M Reduce -8.1%
REG Regency Centers Corp. 0.19% 24,780 $1.8M Reduce -11.5%
PTC PTC Inc. 0.18% 9,735 $1.8M Reduce -11.5%
MDT Medtronic PLC 0.18% 21,523 $1.7M Reduce -11.5%
DELL Dell Technologies -C 0.17% 14,637 $1.7M Reduce -11.5%
ITW Illinois Tool Works 0.17% 6,449 $1.6M Reduce -11.5%
GEHC GE Healthcare Technology 0.17% 20,669 $1.6M Reduce -11.5%
HOLX Hologic Inc. 0.17% 22,312 $1.6M Reduce -11.5%
MSCI MSCI Inc. 0.16% 2,668 $1.6M Reduce -11.6%
TEL Te Connectivity PLC 0.16% 10,858 $1.6M Reduce -11.5%
MSA Msa Safety Inc. 0.16% 9,193 $1.5M Reduce -8.1%
HCA HCA Healthcare Inc. 0.15% 4,994 $1.5M Reduce -58.4%
KDP Keurig Dr Pepper Inc. 0.15% 44,079 $1.4M Reduce -69.5%
MOH Molina Healthcare Inc. 0.14% 4,736 $1.4M Reduce -11.5%
TFX Teleflex Inc. 0.12% 6,556 $1.2M Reduce -11.5%
ALV Autoliv Inc. 0.11% 11,032 $1.0M Reduce -8.1%
NDAQ Nasdaq Inc. 0.10% 12,169 $941K Reduce -11.5%
RPRX Royalty Pharma PLC Class A 0.09% 33,792 $862K Reduce -11.5%
TROX Tronox Holdings PLC 0.08% 74,587 $751K Reduce -8.1%
APTV Aptiv PLC 0.06% 9,699 $587K Reduce -8.1%

Portfolio Sells Q3 2024 → Q4 2024
ADI Analog Devices Inc. Sold out 0.00% −10.01
EA Electronic Arts Inc. Reduce -11.5% 0.91% −8.85
GENPACT LIMITED Reduce -11.5% 0.21% −4.58
SNPS Synopsys Inc. Reduce -11.5% 0.26% −2.82
GS Goldman Sachs Group Inc. Reduce -1.8% 1.28% −1.66
TROX Tronox Holdings PLC Reduce -8.1% 0.08% −1.44
NDAQ Nasdaq Inc. Reduce -11.5% 0.10% −1.44
ULTA Ulta Beauty Inc. Sold out 0.00% −1.42
ACN Accenture PLC Class A Reduce -11.5% 0.81% −1.36
AMTM Amentum Holdings Inc. Sold out 0.00% −1.19
VMRK Vivmark Residential Reduce -25.8% 0.50% −1.04
RPRX Royalty Pharma PLC Class A Reduce -11.5% 0.09% −0.99
MSCI MSCI Inc. Reduce -11.6% 0.16% −0.93
OC Owens Corning Reduce -11.5% 0.38% −0.91
TXN Texas Instruments Inc. Sold out 0.00% −0.87
DELL Dell Technologies -C Reduce -11.5% 0.17% −0.86
QRVO Qorvo Inc. Sold out 0.00% −0.80
BDX Becton Dickinson and Co. Sold out 0.00% −0.79
AMP Ameriprise Financial Inc. Reduce -11.5% 0.32% −0.73
GIS General Mills Inc. Reduce -11.5% 0.22% −0.66
SBUX Starbucks Corp. Sold out 0.00% −0.62
MDT Medtronic PLC Reduce -11.5% 0.18% −0.61
ENSG The Ensign Group Inc. Sold out 0.00% −0.56
AZO AutoZone Inc. Reduce -11.7% 0.30% −0.55
KDP Keurig Dr Pepper Inc. Reduce -69.5% 0.15% −0.54
EHC Encompass Health Corp. Reduce -11.5% 0.26% −0.54
ETN Eaton Corp. PLC Reduce -11.5% 0.24% −0.53
CHD Church & Dwight Co. Inc. Reduce -8.1% 0.19% −0.52
HON Honeywell International Inc. Reduce -11.5% 0.30% −0.42
TEL Te Connectivity PLC Reduce -11.5% 0.16% −0.42
ARE Alexandria Real Estate Equit Sold out 0.00% −0.40
BAH Booz Allen Hamilton Holdings Reduce -11.5% 0.20% −0.37
KO The Coca-Cola Co. Reduce -11.5% 0.66% −0.36
MU Micron Technology Inc. Reduce -11.5% 0.47% −0.35
IVZ Invesco Ltd. Sold out 0.00% −0.34
GPK Graphic Packaging Holding Co. Sold out 0.00% −0.32
CI The Cigna Group Reduce -11.5% 0.24% −0.32
HCA HCA Healthcare Inc. Reduce -58.4% 0.15% −0.30
GEHC GE Healthcare Technology Reduce -11.5% 0.17% −0.30
ZUO Zuora Inc. Class A Sold out 0.00% −0.29
APD Air Products & Chemicals Inc. Reduce -11.5% 0.22% −0.27
TFX Teleflex Inc. Reduce -11.5% 0.12% −0.26
MOH Molina Healthcare Inc. Reduce -11.5% 0.14% −0.24
JLL Jones Lang Lasalle Inc. Reduce -11.5% 0.40% −0.23
AMD Advanced Micro Devices Reduce -11.5% 0.90% −0.23
ELV Elevance Health Inc. Reduce -11.5% 0.36% −0.22
ALV Autoliv Inc. Reduce -8.1% 0.11% −0.21
APTV Aptiv PLC Reduce -8.1% 0.06% −0.21
COO The Cooper Cos Inc. Reduce -11.5% 0.28% −0.21
FSLR First Solar Inc. Sold out 0.00% −0.20

Portfolio Buys Q3 2024 → Q4 2024
JPM JPMorgan Chase & Co. New 1.78% +1.78
UNH Unitedhealth Group Inc. Add +7.1% 1.56% +1.10
BKT BlackRock Income Trust New 0.61% +0.61
C Citigroup Inc. Add +57.1% 0.69% +0.55
DDOG Datadog Inc. Class A Add +31.0% 0.65% +0.46
DXCM Dexcom Inc. New 0.39% +0.39
BURL Burlington Stores Inc. New 0.31% +0.31
HUM Humana Inc. New 0.30% +0.30
PLD Prologis Inc. Add +6.2% 0.55% +0.25
WAB Wabtec Corp. New 0.23% +0.23
TMUS T-Mobile US Inc. Add +55.9% 0.39% +0.21
ALL Allstate Corp. Add +40.8% 0.53% +0.11

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 143$746.8MMS, AMD, SWK, WMS, RRX
Q1 2026 144$748.6MNVDA, AAPL, MSFT, GOOG, AVGO
Q4 2025 147$813.9MNVDA, AAPL, MSFT, AVGO, GOOG
Q3 2025 143$840.0MNVDA, MSFT, AAPL, AVGO, META
Q2 2025 137$893.5MNVDA, MSFT, AAPL, META, AVGO
Q1 2025 143$916.6MAAPL, MSFT, NVDA, GOOG, META
Q4 2024Amended 136$974.8MAAPL, MSFT, NVDA, GOOG, AVGO
Q3 2024 150$931.0MADI, EA, GENPACT LIMITED, SNPS, GS
Q2 2024 154$1.0BMSFT, NVDA, AAPL, GOOG, META