BDF-Gestion

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 17, 2025), BDF-Gestion reported 143 stock positions worth $916.6 million. Its top holding was Apple (AAPL) at 9.3% of the portfolio, followed by Microsoft (MSFT, 8.9%) and Nvidia (NVDA, 7.1%). Compared with Q4 2024, it opened 9 new positions, sold out of 2, added to 5 and reduced 4. The biggest buy was a new position in Oracle (ORCL) and the biggest sale Nvidia (NVDA, shares −10%).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001632812
Portfolio Value
$916.6M (Q1 2025)
SEC Filing
0001632812-25-000005 ↗ filed Apr 17, 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 Q4 2024 Q1 2025: $916.6M $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 143 stocks · $916.6M
AAPL Apple Inc. 9.26% 381,923 $84.8M No change
MSFT Microsoft Corp. 8.88% 216,889 $81.4M No change
NVDA Nvidia Corp. 7.09% 599,324 $65.0M Reduce -10.3%
GOOG Alphabet Inc. Class C 3.67% 215,262 $33.6M No change
META Meta Platforms Inc. Class A 2.97% 47,189 $27.2M No change
LLY Eli Lilly & Co. 2.41% 26,724 $22.1M No change
AVGO Broadcom Inc. 2.24% 122,572 $20.5M No change
UNH Unitedhealth Group Inc. 1.94% 33,970 $17.8M Add +13.0%
JPM JPMorgan Chase & Co. 1.93% 72,211 $17.7M No change
V Visa Inc. Class A 1.85% 48,382 $17.0M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.45% 317,798 $13.3M No change
TSLA Tesla Inc. 1.42% 50,312 $13.0M Reduce -6.5%
HD Home Depot Inc. 1.35% 33,764 $12.4M No change
MA Mastercard Inc. Class A 1.33% 22,204 $12.2M No change
GS Goldman Sachs Group Inc. 1.30% 21,736 $11.9M No change
ABBV Abbvie Inc. 1.23% 53,861 $11.3M No change
VZ Verizon Communications Inc. 1.02% 205,790 $9.3M No change
PG The Procter & Gamble Co. 1.02% 54,703 $9.3M No change
MRK Merck & Co. Inc. 1.00% 102,478 $9.2M No change
ABT Abbott Laboratories 0.94% 65,164 $8.6M No change
MSI Motorola Solutions Inc. 0.90% 18,791 $8.2M Add +11.1%
AMD Advanced Micro Devices 0.81% 72,324 $7.4M No change
KO The Coca-Cola Co. 0.81% 103,196 $7.4M No change
BKNG Booking Holdings Inc. 0.77% 1,540 $7.1M No change
ACN Accenture PLC Class A 0.76% 22,449 $7.0M No change
TMO Thermo Fisher Scientific Inc. 0.74% 13,650 $6.8M No change
C Citigroup Inc. 0.74% 95,564 $6.8M No change
CRM Salesforce Inc. 0.74% 25,137 $6.7M No change
GE General Electric filed as GE AEROSPACE 0.74% 33,691 $6.7M No change
CSCO Cisco Systems Inc. 0.72% 106,948 $6.6M No change
ISRG Intuitive Surgical Inc. 0.69% 12,774 $6.3M Add +79.9%
CDW CDW Corp. 0.68% 38,999 $6.2M No change
MDLZ Mondelez International Inc. Class A 0.67% 90,482 $6.1M No change
NOW ServiceNow Inc. 0.66% 7,629 $6.1M No change
PLD Prologis Inc. 0.62% 51,130 $5.7M No change
ADP Automatic Data Processing 0.62% 18,552 $5.7M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.61% 46,046 $5.6M No change
ALL Allstate Corp. 0.61% 26,912 $5.6M No change
LIN Linde PLC 0.61% 11,947 $5.6M No change
BKT BlackRock Income Trust 0.60% 5,824 $5.5M No change
SCI Service Corp. International 0.58% 65,936 $5.3M No change
ORCL Oracle Corp. 0.53% 35,000 $4.9M New
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.53% 67,540 $4.8M No change
ADSK Autodesk Inc. 0.53% 18,396 $4.8M No change
RSG Republic Services Inc. 0.52% 19,697 $4.8M No change
SPG Simon Property Group Inc. 0.52% 28,608 $4.8M No change
MET Metlife Inc. 0.51% 58,117 $4.7M No change
AXP American Express Co. 0.51% 17,271 $4.6M No change
EA Electronic Arts Inc. 0.50% 32,020 $4.6M Reduce -47.1%
TMUS T-Mobile US Inc. 0.50% 17,152 $4.6M No change
ADBE Adobe Inc. 0.49% 11,712 $4.5M No change
SPGI S&P Global Inc. 0.49% 8,769 $4.5M No change
DDOG Datadog Inc. Class A 0.48% 44,562 $4.4M No change
VTR Ventas Inc. 0.48% 64,167 $4.4M No change
HIG Hartford Insurance Group Inc. 0.47% 35,043 $4.3M No change
BR Broadridge Financial Solutio 0.47% 17,761 $4.3M No change
WDAY Workday Inc. Class A 0.46% 18,067 $4.2M Add +117.2%
ELV Elevance Health Inc. 0.45% 9,534 $4.1M No change
BSX Boston Scientific Corp. 0.45% 41,029 $4.1M No change
SYK Stryker Corp. 0.45% 11,116 $4.1M No change
FISV Fiserv Inc. 0.44% 18,387 $4.1M No change
TXN Texas Instruments Inc. 0.44% 22,314 $4.0M New
DHR Danaher Corp. 0.43% 19,091 $3.9M No change
JLL Jones Lang Lasalle Inc. 0.41% 15,306 $3.8M No change
FITB Fifth Third Bancorp 0.40% 93,062 $3.6M No change
QCOM Qualcomm Inc. 0.39% 23,546 $3.6M No change
EW Edwards Lifesciences Corp. 0.39% 49,330 $3.6M No change
MCK McKesson Corp. 0.39% 5,309 $3.6M No change
ADI Analog Devices Inc. 0.38% 17,342 $3.5M New
AZO AutoZone Inc. 0.38% 907 $3.5M No change
CL Colgate-Palmolive Co. 0.37% 36,119 $3.4M No change
CSX CSX Corp. 0.37% 114,631 $3.4M No change
HOLX Hologic Inc. 0.37% 54,312 $3.4M Add +143.4%
DXCM Dexcom Inc. 0.36% 48,703 $3.3M No change
RGLD Royal Gold Inc. 0.35% 19,885 $3.3M No change
PAYX Paychex Inc. 0.35% 20,870 $3.2M No change
CTSH Cognizant Tech Solutions-A 0.35% 41,646 $3.2M No change
ICE Intercontinental Exchange Inc. 0.35% 18,419 $3.2M No change
AMAT Applied Materials Inc. 0.34% 21,473 $3.1M No change
OC Owens Corning 0.34% 21,549 $3.1M No change
HUM Humana Inc. 0.34% 11,618 $3.1M No change
DE Deere & Co. 0.31% 6,136 $2.9M No change
INTU Intuit Inc. 0.31% 4,689 $2.9M Reduce -51.6%
VRSK Verisk Analytics Inc. 0.31% 9,607 $2.9M No change
AMP Ameriprise Financial Inc. 0.31% 5,875 $2.8M No change
REGENERON PHARMACEUTICALS 0.31% 4,453 $2.8M No change
HON Honeywell International Inc. 0.30% 13,111 $2.8M No change
OTIS Otis Worldwide Corp. 0.30% 26,788 $2.8M No change
EHC Encompass Health Corp. 0.30% 27,292 $2.8M No change
DECK Deckers Outdoor Corp. 0.30% 24,693 $2.8M No change
CI The Cigna Group 0.30% 8,381 $2.8M No change
TRU Transunion 0.30% 32,594 $2.7M No change
PPG PPG Industries Inc. 0.29% 24,271 $2.7M No change
RMD Resmed Inc. 0.29% 11,791 $2.6M No change
MAR Marriott International Class A 0.29% 11,027 $2.6M No change
CATERPILLAR INC 0.29% 7,964 $2.6M No change
JNJ Johnson & Johnson 0.29% 32,777 $2.6M No change
GM General Motors Co. 0.28% 54,980 $2.6M No change
URI United Rentals Inc. 0.28% 4,102 $2.6M No change
BURL Burlington Stores Inc. 0.28% 10,750 $2.6M No change

Show all 143 holdings

Portfolio Sells Q4 2024 → Q1 2025
NVDA Nvidia Corp. Reduce -10.3% 7.09% −2.11
TSLA Tesla Inc. Reduce -6.5% 1.42% −0.81
MU Micron Technology Inc. Sold out 0.00% −0.47
EA Electronic Arts Inc. Reduce -47.1% 0.50% −0.40
INTU Intuit Inc. Reduce -51.6% 0.31% −0.31
MDT Medtronic PLC Sold out 0.00% −0.18

Portfolio Buys Q4 2024 → Q1 2025
ORCL Oracle Corp. New 0.53% +0.53
TXN Texas Instruments Inc. New 0.44% +0.44
ADI Analog Devices Inc. New 0.38% +0.38
UNH Unitedhealth Group Inc. Add +13.0% 1.94% +0.38
ISRG Intuitive Surgical Inc. Add +79.9% 0.69% +0.31
ZS Zscaler Inc. New 0.27% +0.27
WDAY Workday Inc. Class A Add +117.2% 0.46% +0.24
SNOW Snowflake Inc. New 0.22% +0.22
BL Blackline Inc. New 0.21% +0.21
HOLX Hologic Inc. Add +143.4% 0.37% +0.20
NXPI NXP Semiconductors NV New 0.13% +0.13
MSI Motorola Solutions Inc. Add +11.1% 0.90% +0.10
INTC Intel Corp. New 0.09% +0.09
MRNA Moderna Inc. New 0.09% +0.09

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