Carmignac Gestion

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Carmignac Gestion reported 155 stock positions worth $5.8 billion. Its top holding was Microsoft (MSFT) at 9.2% of the portfolio, followed by Amazon.com (AMZN, 8.6%) and Alphabet Class A (GOOGL, 7.9%). Compared with Q1 2024, it opened 38 new positions, sold out of 23, added to 43 and reduced 50. The biggest buy was Alphabet Class A (GOOGL, shares +93%) and the biggest sale Meta Platforms Class A (META, shares −73%).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001569758
Portfolio Value
$5.8B (Q2 2024)
SEC Filing
0000945621-24-000663 ↗ filed Aug 13, 2024

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $6.3B Q1 2024 Q2 2024: $5.8B $5.8B Q2 2024 Q3 2024: $6.0B Q3 2024 Q4 2024: $6.3B Q4 2024 Q1 2025: $6.1B Q1 2025 Q2 2025: $6.5B Q2 2025 Q3 2025: $6.7B Q3 2025 Q4 2025: $7.4B Q4 2025 Q1 2026: $6.5B Q1 2026 Q2 2026: $7.7B Q2 2026

Holdings 155 stocks · $5.8B
MSFT Microsoft Corp. 9.18% 1,197,048 $535.1M Add +19.6%
AMZN Amazon.com Inc. 8.62% 2,598,743 $502.7M Add +14.7%
GOOGL Alphabet Inc. Class A 7.90% 2,529,298 $460.7M Add +93.4%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 5.22% 6,454,303 $304.5M Add +116.0%
NVDA Nvidia Corp. 5.14% 2,422,859 $299.6M Reduce -38.6%
AVGO Broadcom Inc. 3.80% 138,137 $221.8M New
COR Cencora Inc. 3.72% 963,873 $217.2M New
ICE Intercontinental Exchange Inc. 3.44% 1,467,234 $200.9M Add +3.4%
UNH Unitedhealth Group Inc. 3.04% 348,152 $177.3M New
SPGI S&P Global Inc. 2.97% 388,191 $173.2M Reduce -16.0%
META Meta Platforms Inc. Class A 2.57% 297,260 $149.9M Reduce -73.0%
CNC Centene Corp. 2.55% 2,246,028 $148.9M New
NOW ServiceNow Inc. 2.31% 171,383 $134.8M Add +3028.0%
VIPS Vipshop Holdings Ltd. - ADR 2.01% 8,979,972 $116.9M Add +205.2%
LLY Eli Lilly & Co. 1.78% 114,393 $103.6M Reduce -71.6%
GE General Electric filed as GE AEROSPACE 1.77% 649,325 $103.2M Reduce -51.0%
ITUB Itau Unibanco H-Spon PRF ADR 1.61% 16,118,173 $94.1M Add +19.8%
MA Mastercard Inc. Class A 1.61% 213,057 $94.0M Add +49.7%
MELI MercadoLibre Inc. 1.55% 54,992 $90.4M Add +41.4%
VRTX Vertex Pharmaceuticals Inc. 1.49% 185,249 $86.8M New
BABA Alibaba Group Holding-SP ADR 1.36% 1,101,229 $79.3M Add +0.1%
AMD Advanced Micro Devices 1.23% 443,087 $71.9M Reduce -80.9%
ELV Elevance Health Inc. 1.14% 122,426 $66.3M New
ACN Accenture PLC Class A 1.13% 217,692 $66.0M Add +6377.0%
AEM Agnico Eagle Mines Ltd. 1.12% 998,423 $65.3M Reduce -25.3%
AMAT Applied Materials Inc. 1.08% 265,689 $62.7M Add +96.0%
PH Parker Hannifin Corp. 1.06% 122,709 $62.1M New
LIN Linde PLC 0.87% 115,992 $50.9M Add +13.5%
PG The Procter & Gamble Co. 0.80% 282,478 $46.6M Add +17.3%
DHR Danaher Corp. 0.80% 186,130 $46.5M Add +122.3%
CL Colgate-Palmolive Co. 0.78% 468,846 $45.6M Add +15.4%
TMO Thermo Fisher Scientific Inc. 0.78% 81,753 $45.2M Add +20.8%
WMT Walmart Inc. 0.74% 640,000 $43.3M Reduce -11.1%
NEM Newmont Corp. 0.71% 988,053 $41.4M Reduce -58.5%
NVMI Nova Ltd. 0.65% 161,189 $37.8M Add +0.1%
TSM Taiwan Semiconductor-SP ADR 0.63% 209,286 $36.8M Reduce -85.8%
ANET Arista Networks Inc. 0.63% 104,636 $36.7M New
XYZ Block Inc. 0.53% 480,000 $31.0M Reduce -48.0%
SNPS Synopsys Inc. 0.51% 50,166 $29.9M New
ANSS Ansys Inc. 0.51% 92,047 $29.6M Add +17.2%
TW Tradeweb Markets Inc. Class A 0.48% 266,100 $28.2M Reduce -10.7%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.44% 200,242 $25.8M New
EH Ehang Holdings Ltd.-SPS ADR 0.44% 1,886,542 $25.6M Add +2.9%
SE Sea Ltd.-ADR 0.44% 355,629 $25.4M Reduce -68.0%
DE Deere & Co. 0.43% 67,238 $25.1M New
VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP 0.39% 757,430 $22.7M Add +5.2%
VEEV Veeva Systems Inc. Class A 0.36% 115,793 $21.2M Add +88.0%
ORLY O'reilly Automotive Inc. 0.35% 19,286 $20.4M New
JD Jd.com Inc.-ADR 0.35% 786,329 $20.3M Reduce -42.1%
TEAM Atlassian Corp. Class A 0.32% 106,500 $18.8M Reduce -62.7%
CDNS Cadence Design SYS Inc. 0.28% 52,269 $16.1M New
MU Micron Technology Inc. 0.27% 119,727 $15.7M Reduce -92.3%
MNSO Miniso Group Holding Ltd.-ADR 0.22% 684,944 $13.1M Reduce -39.3%
SYK Stryker Corp. 0.22% 37,561 $12.8M Add +68.0%
ISRG Intuitive Surgical Inc. 0.22% 28,561 $12.7M Add +10.7%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.22% 117,339 $12.5M Reduce -89.6%
KEYS Keysight Technologies Inc. 0.19% 81,610 $11.2M New
WM Waste Management Inc. 0.19% 51,904 $11.1M Reduce -11.6%
ORCL Oracle Corp. 0.18% 73,650 $10.4M Reduce -2.0%
TUYA Tuya Inc. 0.18% 6,040,875 $10.3M Reduce -4.4%
ADBE Adobe Inc. 0.16% 16,799 $9.3M Add +10.8%
TDY Teledyne Technologies Inc. 0.16% 23,400 $9.1M New
INTU Intuit Inc. 0.15% 13,750 $9.0M Add +21.5%
ALGN Align Technology Inc. 0.13% 31,369 $7.6M Add +24.0%
BNTX Biontech SE-ADR 0.13% 93,322 $7.5M New
NEE Nextera Energy Inc. 0.12% 96,646 $6.8M Reduce -10.8%
LNTH Lantheus Holdings Inc. 0.11% 79,800 $6.4M New
PRFT Perficient Inc. 0.11% 83,723 $6.3M New
HCP Hashicorp Inc. Class A 0.11% 185,323 $6.2M New
NVEI Nuvei Corp.-Subordinate VTG 0.11% 191,841 $6.2M New
CTLT Catalent Inc. 0.10% 107,154 $6.0M No change
DOCS Doximity Inc. Class A 0.10% 213,000 $6.0M New
CERE Cerevel Therapeutics Holding 0.10% 142,015 $5.8M No change
ETRN Equitrans Midstream Corp. 0.10% 439,842 $5.7M Add +142.3%
HES Hess Corp. 0.10% 37,958 $5.6M No change
OLK Olink Holding AB - ADR 0.10% 218,329 $5.6M Add +32.3%
JNPR Juniper Networks Inc. 0.08% 134,225 $4.9M Reduce -17.6%
CCJ Cameco Corp. 0.08% 97,308 $4.8M No change
ADI Analog Devices Inc. 0.08% 20,651 $4.7M Reduce -61.0%
COST Costco Wholesale Corp. 0.08% 5,515 $4.7M Add +47.3%
ADSK Autodesk Inc. 0.08% 18,731 $4.6M Reduce -21.3%
TAL Tal Education Group- ADR 0.08% 430,412 $4.6M Reduce -3.4%
BILL Bill Holdings Inc. 0.08% 85,000 $4.5M Reduce -87.0%
AIRC Apartment Income REIT Co. 0.07% 106,054 $4.1M New
PWSC Powerschool Holdings Inc. Class A 0.07% 185,044 $4.1M New
DFS Discover Financial Services 0.07% 31,338 $4.1M New
SLCA US Silica Holdings Inc. 0.07% 264,218 $4.1M New
TRU Transunion 0.07% 54,802 $4.1M Reduce -10.9%
ECL Ecolab Inc. 0.07% 16,642 $4.0M No change
AXONICS INC 0.07% 57,176 $3.8M Reduce -36.1%
PANW Palo Alto Networks Inc. 0.06% 10,606 $3.6M Add +9.7%
GRMN Garmin Ltd. 0.06% 21,648 $3.5M Add +25.5%
MAR Marriott International Class A 0.06% 14,484 $3.5M Add +32.2%
TBBB BBB Foods Inc. Class A 0.06% 140,000 $3.3M No change
CRM Salesforce Inc. 0.05% 12,154 $3.1M Reduce -95.8%
TME Tencent Music Entertainm-ADR 0.05% 206,950 $2.9M Reduce -48.9%
CLEARSIDE BIOMEDICAL INC 0.05% 2,132,744 $2.8M No change
CRH CRH PLC 0.05% 36,809 $2.8M Reduce -15.4%
HLT Hilton Worldwide Holdings Inc. 0.05% 12,114 $2.6M Add +65.1%
V Visa Inc. Class A 0.04% 9,896 $2.6M Add +111.4%

Show all 155 holdings

Options reported separately and not counted above: CP calls ($23K), TDG calls ($21K), TSLA calls ($17K), MU calls ($15K), NKE calls ($4K).

Portfolio Sells Q1 2024 → Q2 2024
META Meta Platforms Inc. Class A Reduce -73.0% 2.57% −5.89
AMD Advanced Micro Devices Reduce -80.9% 1.23% −5.37
LLY Eli Lilly & Co. Reduce -71.6% 1.78% −3.18
BAX Baxter International Inc. Sold out 0.00% −3.16
TMUS T-Mobile US Inc. Sold out 0.00% −3.12
MU Micron Technology Inc. Reduce -92.3% 0.27% −2.61
TSM Taiwan Semiconductor-SP ADR Reduce -85.8% 0.63% −2.54
EL Estee Lauder Companies Class A Reduce -89.6% 0.22% −2.53
FCX Freeport-McMoran Inc. Sold out 0.00% −2.04
GE General Electric Reduce -51.0% 1.77% −1.91
CRM Salesforce Inc. Reduce -95.8% 0.05% −1.33
SNAP Snap Inc. Class A Sold out 0.00% −1.25
XYZ Block Inc. Reduce -48.0% 0.53% −0.70
NEM Newmont Corp. Reduce -58.5% 0.71% −0.64
BILL Bill Holdings Inc. Reduce -87.0% 0.08% −0.64
MDB Mongodb Inc. Sold out 0.00% −0.59
TEAM Atlassian Corp. Class A Reduce -62.7% 0.32% −0.56
SE Sea Ltd.-ADR Reduce -68.0% 0.44% −0.51
NVDA Nvidia Corp. Reduce -38.6% 5.14% −0.50
COF Capital One Financial Corp. Sold out 0.00% −0.36
JD Jd.com Inc.-ADR Reduce -42.1% 0.35% −0.24
TCN Tricon Residential Inc. Sold out 0.00% −0.22
TDG Transdigm Group Inc. Sold out 0.00% −0.21
SPOT Spotify Technology SA Sold out 0.00% −0.19
BEKE Ke Holdings Inc.-ADR Reduce -84.1% 0.04% −0.18
MNSO Miniso Group Holding Ltd.-ADR Reduce -39.3% 0.22% −0.14
AEM Agnico Eagle Mines Ltd. Reduce -25.3% 1.12% −0.14
SPGI S&P Global Inc. Reduce -16.0% 2.97% −0.14
ETSY Etsy Inc. Sold out 0.00% −0.13
PXD Pioneer Natural Resources Co. Sold out 0.00% −0.10
SP SP Plus Corp. Sold out 0.00% −0.10
ADI Analog Devices Inc. Reduce -61.0% 0.08% −0.08
ALC Alcon Inc. Sold out 0.00% −0.07
GPRK Geopark Ltd. Reduce -83.6% 0.02% −0.07
CPRI Capri Holdings Ltd. Sold out 0.00% −0.06
ERF Enerplus Corp. Sold out 0.00% −0.05
TGAN Transphorm Inc. Sold out 0.00% −0.04
CP Canadian Pacific Kansas City Reduce -71.7% 0.01% −0.04
CPE Callon Petroleum Co. Sold out 0.00% −0.03
AXONICS INC Reduce -36.1% 0.07% −0.03
GIS General Mills Inc. Sold out 0.00% −0.03
ODFL Old Dominion Freight Line Reduce -71.9% 0.01% −0.03
INTC Intel Corp. Sold out 0.00% −0.02
TME Tencent Music Entertainm-ADR Reduce -48.9% 0.05% −0.02
ADSK Autodesk Inc. Reduce -21.3% 0.08% −0.02
FTNT Fortinet Inc. Reduce -71.9% 0.01% −0.02
WTS Watts Water Technologies-A Reduce -50.3% 0.01% −0.02
NGMS Neogames SA Sold out 0.00% −0.02
EDU New Oriental Educatio-SP ADR Reduce -27.9% 0.04% −0.02
SSNC Ss&c Technologies Holdings Reduce -71.9% 0.01% −0.01

Portfolio Buys Q1 2024 → Q2 2024
GOOGL Alphabet Inc. Class A Add +93.4% 7.90% +4.78
AVGO Broadcom Inc. New 3.80% +3.80
COR Cencora Inc. New 3.72% +3.72
UNH Unitedhealth Group Inc. New 3.04% +3.04
SLB SLB Ltd. Add +116.0% 5.22% +2.63
CNC Centene Corp. New 2.55% +2.55
MSFT Microsoft Corp. Add +19.6% 9.18% +2.52
NOW ServiceNow Inc. Add +3028.0% 2.31% +2.25
AMZN Amazon.com Inc. Add +14.7% 8.62% +2.16
VRTX Vertex Pharmaceuticals Inc. New 1.49% +1.49
VIPS Vipshop Holdings Ltd. - ADR Add +205.2% 2.01% +1.24
ELV Elevance Health Inc. New 1.14% +1.14
ACN Accenture PLC Class A Add +6377.0% 1.13% +1.11
PH Parker Hannifin Corp. New 1.06% +1.06
AMAT Applied Materials Inc. Add +96.0% 1.08% +0.63
ANET Arista Networks Inc. New 0.63% +0.63
MELI MercadoLibre Inc. Add +41.4% 1.55% +0.62
MA Mastercard Inc. Class A Add +49.7% 1.61% +0.53
SNPS Synopsys Inc. New 0.51% +0.51
DHR Danaher Corp. Add +122.3% 0.80% +0.47
KSPI JSC Kaspi.kz ADR New 0.44% +0.44
DE Deere & Co. New 0.43% +0.43
ICE Intercontinental Exchange Inc. Add +3.4% 3.44% +0.36
ORLY O'reilly Automotive Inc. New 0.35% +0.35
CDNS Cadence Design SYS Inc. New 0.28% +0.28
CL Colgate-Palmolive Co. Add +15.4% 0.78% +0.20
NVMI Nova Ltd. Add +0.1% 0.65% +0.20
KEYS Keysight Technologies Inc. New 0.19% +0.19
PG The Procter & Gamble Co. Add +17.3% 0.80% +0.18
TDY Teledyne Technologies Inc. New 0.16% +0.16
TMO Thermo Fisher Scientific Inc. Add +20.8% 0.78% +0.15
ITUB Itau Unibanco H-Spon PRF ADR Add +19.8% 1.61% +0.14
VEEV Veeva Systems Inc. Class A Add +88.0% 0.36% +0.14
BNTX Biontech SE-ADR New 0.13% +0.13
LIN Linde PLC Add +13.5% 0.87% +0.12
LNTH Lantheus Holdings Inc. New 0.11% +0.11
PRFT Perficient Inc. New 0.11% +0.11
HCP Hashicorp Inc. Class A New 0.11% +0.11
NVEI Nuvei Corp.-Subordinate VTG New 0.11% +0.11
DOCS Doximity Inc. Class A New 0.10% +0.10
BABA Alibaba Group Holding-SP ADR Add +0.1% 1.36% +0.10
SYK Stryker Corp. Add +68.0% 0.22% +0.09
ANSS Ansys Inc. Add +17.2% 0.51% +0.08
AIRC Apartment Income REIT Co. New 0.07% +0.07
PWSC Powerschool Holdings Inc. Class A New 0.07% +0.07
DFS Discover Financial Services New 0.07% +0.07
SLCA US Silica Holdings Inc. New 0.07% +0.07
ETRN Equitrans Midstream Corp. Add +142.3% 0.10% +0.06
ISRG Intuitive Surgical Inc. Add +10.7% 0.22% +0.06
DQ Daqo New Energy Corp.-ADR New 0.04% +0.04

Options Activity Q1 2024 → Q2 2024
GOOG Alphabet Inc. Class C call Sold out 350,000 $53Kbefore exit
GOOGL Alphabet Inc. Class A call Sold out 350,000 $53Kbefore exit
CP Canadian Pacific Kansas City call New 294,500 $23K
TDG Transdigm Group Inc. call New 16,500 $21K
TSLA Tesla Inc. call Reduce -29.6% 84,500 $17K
MU Micron Technology Inc. call Reduce -68.5% 115,000 $15K
NKE Nike Inc. Class B call New 47,700 $4K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 94$7.7BNVDA, AVGO, COR, MCK, GOOGL
Q1 2026 108$6.5BNVDA, MELI, SPGI, GOOGL, COR
Q4 2025 119$7.4BNVDA, MSFT, SPGI, GOOGL, AMZN
Q3 2025 126$6.7BNVDA, GOOGL, AMZN, SPGI, MELI
Q2 2025 122$6.5BNVDA, AMZN, GOOGL, MELI, MCK
Q1 2025 152$6.1BAMZN, NVDA, MCK, COR, CNC
Q4 2024 148$6.3BAMZN, MSFT, NVDA, CNC, SLB
Q3 2024 167$6.0BAMZN, SLB, MSFT, GOOGL, NVDA
Q2 2024 155$5.8BMSFT, AMZN, GOOGL, SLB, NVDA
Q1 2024 140$6.3BMETA, MSFT, AMD, AMZN, NVDA