Carmignac Gestion
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed June 15, 2026), Carmignac Gestion reported 108 stock positions worth $6.5 billion. Its top holding was Nvidia (NVDA) at 12.2% of the portfolio, followed by MercadoLibre (MELI, 6.6%) and S&P Global (SPGI, 6.2%). Compared with Q4 2025, it opened 31 new positions, sold out of 42, added to 31 and reduced 39. The biggest buy was Nvidia (NVDA, shares +26%) and the biggest sale Microsoft (MSFT, shares −80%).
- Most Recent 13F
- Q2 2026
- Location
- PARIS, I0
- CIK
- 0001569758
- Portfolio Value
- $6.5B (Q1 2026)
- SEC Filing
- 0000945621-26-000828 ↗ filed Jun 15, 2026
Holdings Value
Holdings 108 stocks · $6.5B
| NVDA Nvidia Corp. | 12.23% | 4,566,444 | $796.0M | Add +25.6% |
| MELI MercadoLibre Inc. | 6.62% | 249,455 | $431.1M | Add +76.5% |
| SPGI S&P Global Inc. | 6.24% | 955,021 | $406.2M | Add +10.4% |
| GOOGL Alphabet Inc. Class A | 5.94% | 1,345,592 | $386.8M | Reduce -0.1% |
| COR Cencora Inc. | 5.32% | 1,101,251 | $345.9M | Add +25.8% |
| AMZN Amazon.com Inc. | 4.51% | 1,409,850 | $293.5M | Reduce -10.6% |
| MCK McKesson Corp. | 4.23% | 317,721 | $274.9M | Reduce -11.4% |
| TW Tradeweb Markets Inc. Class A | 4.13% | 2,286,200 | $269.0M | Add +3.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.00% | 407,702 | $195.4M | New |
| XYZ Block Inc. | 2.99% | 3,233,826 | $194.6M | Reduce -5.4% |
| MA Mastercard Inc. Class A | 2.92% | 380,470 | $190.1M | Add +27.0% |
| CRM Salesforce Inc. | 2.79% | 974,129 | $181.8M | Reduce -3.4% |
| ICE Intercontinental Exchange Inc. | 2.78% | 1,150,073 | $180.9M | Reduce -16.4% |
| TEAM Atlassian Corp. Class A | 2.73% | 2,603,770 | $177.7M | Add +115.8% |
| AVGO Broadcom Inc. | 2.57% | 541,651 | $167.4M | Add +289.4% |
| NOW ServiceNow Inc. | 2.43% | 1,513,849 | $158.3M | Reduce -12.7% |
| LNTH Lantheus Holdings Inc. | 1.55% | 1,328,000 | $100.7M | Add +18.4% |
| DOCS Doximity Inc. Class A | 1.54% | 4,311,997 | $100.5M | Add +127.8% |
| ANET Arista Networks Inc. | 1.41% | 747,026 | $91.6M | Reduce -31.7% |
| REGN Regeneron Pharmaceuticals | 1.38% | 116,571 | $90.0M | Add +133.3% |
| APH Amphenol Corp. Class A | 1.30% | 669,236 | $84.6M | Reduce -44.0% |
| ABNB Airbnb Inc. Class A | 1.28% | 659,570 | $83.3M | Add +40.8% |
| MSFT Microsoft Corp. | 1.22% | 214,923 | $79.4M | Reduce -79.8% |
| ITUB Itau Unibanco H-Spon PRF ADR | 1.11% | 8,630,222 | $72.3M | Add +20.7% |
| VIPS Vipshop Holdings Ltd. - ADR | 1.08% | 4,480,529 | $70.5M | Add +7.7% |
| VRTX Vertex Pharmaceuticals Inc. | 1.02% | 148,199 | $66.2M | Reduce -22.6% |
| EFX Equifax Inc. | 1.01% | 364,605 | $65.6M | Reduce -51.4% |
| META Meta Platforms Inc. Class A | 1.01% | 114,410 | $65.5M | Add +158.1% |
| BKNG Booking Holdings Inc. | 0.95% | 14,742 | $62.1M | New |
| WDAY Workday Inc. Class A | 0.91% | 457,500 | $59.4M | New |
| SFM Sprouts Farmers Market Inc. | 0.83% | 698,470 | $53.9M | Add +31.8% |
| SE Sea Ltd.-ADR | 0.81% | 637,576 | $52.6M | Add +23.5% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.75% | 946,192 | $48.6M | Reduce -79.7% |
| ALGN Align Technology Inc. | 0.59% | 225,171 | $38.5M | Reduce -8.5% |
| CRDO Credo Technology Group Holdi | 0.53% | 364,500 | $34.2M | New |
| PH Parker Hannifin Corp. | 0.49% | 35,433 | $31.7M | New |
| RPRX Royalty Pharma PLC Class A | 0.47% | 631,200 | $30.3M | New |
| VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP | 0.42% | 822,445 | $27.4M | Add +3.3% |
| TME Tencent Music Entertainm-ADR | 0.41% | 2,881,153 | $26.7M | Add +2635.9% |
| NBIX Neurocrine Biosciences Inc. | 0.38% | 186,000 | $24.5M | Add +192.4% |
| GL Globe Life Inc. | 0.36% | 170,000 | $23.7M | Reduce -35.9% |
| EDU New Oriental Educatio-SP ADR | 0.32% | 365,386 | $20.7M | Reduce -1.1% |
| GTLB Gitlab Inc. Class A | 0.31% | 947,000 | $20.5M | Reduce -27.7% |
| CL Colgate-Palmolive Co. | 0.31% | 236,202 | $20.2M | Reduce -79.5% |
| GTLS Chart Industries Inc. | 0.26% | 82,944 | $17.1M | Add +48.5% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.26% | 260,168 | $16.9M | Add +106.7% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.26% | 224,528 | $16.6M | Reduce -1.9% |
| HOLX Hologic Inc. | 0.24% | 205,034 | $15.5M | Add +263.6% |
| WBS Webster Financial Corp. | 0.21% | 194,025 | $13.5M | New |
| KLAC KLA Corp. | 0.20% | 9,000 | $13.3M | Add +125.0% |
| PG The Procter & Gamble Co. | 0.20% | 88,160 | $12.7M | Reduce -74.6% |
| CTLP Cantaloupe Inc. | 0.18% | 1,075,505 | $11.6M | Add +10.1% |
| MASI Masimo Corp. | 0.18% | 64,831 | $11.5M | New |
| FOLD Amicus Therapeutics Inc. | 0.17% | 784,508 | $11.3M | Add +302.6% |
| HD Home Depot Inc. | 0.15% | 30,734 | $10.1M | Reduce -26.9% |
| EA Electronic Arts Inc. | 0.15% | 48,934 | $10.0M | Add +70.3% |
| BNTX Biontech SE-ADR | 0.15% | 112,711 | $10.0M | Reduce -21.8% |
| OS Onestream Inc. | 0.14% | 384,893 | $9.2M | New |
| CHD Church & Dwight Co. Inc. | 0.14% | 97,086 | $9.1M | New |
| CSGS CSG Systems Intl Inc. | 0.13% | 103,097 | $8.2M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.12% | 15,828 | $7.7M | Reduce -88.7% |
| JHG Janus Henderson Group PLC | 0.11% | 137,300 | $7.1M | Add +57.3% |
| ALAB Astera Labs Inc. | 0.10% | 60,000 | $6.6M | New |
| WBD Warner Bros Discovery Inc. | 0.10% | 236,373 | $6.5M | Add +27.1% |
| SLAB Silicon Laboratories Inc. | 0.09% | 27,843 | $5.8M | New |
| DBRG Digitalbridge Group Inc. | 0.09% | 369,415 | $5.7M | New |
| PRA Proassurance Corp. | 0.08% | 217,263 | $5.4M | No change |
| MU Micron Technology Inc. | 0.08% | 15,000 | $5.1M | New |
| AMWD American Woodmark Corp. | 0.07% | 115,255 | $4.6M | No change |
| IONS Ionis Pharmaceuticals Inc. | 0.06% | 53,000 | $4.0M | New |
| TBBB BBB Foods Inc. Class A | 0.06% | 106,965 | $3.8M | New |
| SEMR Semrush Holdings Inc. Class A | 0.06% | 306,262 | $3.7M | New |
| SEM Select Medical Holdings Corp. | 0.04% | 174,516 | $2.8M | New |
| KEYS Keysight Technologies Inc. | 0.04% | 10,000 | $2.8M | Reduce -95.3% |
| TERN Terns Pharmaceuticals Inc. | 0.04% | 53,541 | $2.8M | New |
| TXNM TXNM Energy Inc. | 0.04% | 47,000 | $2.7M | No change |
| KVUE Kenvue Inc. | 0.04% | 157,574 | $2.7M | No change |
| VNET Vnet Group Inc.-ADR | 0.04% | 322,720 | $2.7M | Reduce -18.2% |
| TWLO Twilio Inc. Class A | 0.04% | 20,000 | $2.5M | Reduce -60.0% |
| P Everpure Inc. Class A | 0.04% | 40,000 | $2.4M | New |
| SKYT Skywater Technology Inc. | 0.04% | 84,106 | $2.3M | New |
| IMXI International Money Express | 0.03% | 138,650 | $2.2M | Add +202.7% |
| ACLX Arcellx Inc. | 0.03% | 18,925 | $2.2M | New |
| CWAN Clearwater Analytics HDS-A | 0.03% | 90,586 | $2.1M | Reduce -68.6% |
| OLPX Olaplex Holdings Inc. | 0.03% | 853,199 | $1.7M | New |
| ONTF ON24 Inc. | 0.02% | 178,555 | $1.4M | New |
| APLS Apellis Pharmaceuticals Inc. | 0.02% | 35,127 | $1.4M | New |
| CSCO Cisco Systems Inc. | 0.02% | 15,796 | $1.2M | Reduce -72.9% |
| AAPL Apple Inc. | 0.02% | 4,785 | $1.2M | Reduce -68.1% |
| COST Costco Wholesale Corp. | 0.02% | 1,151 | $1.1M | Reduce -75.3% |
| MMYT Makemytrip Ltd. | 0.02% | 30,428 | $1.1M | Add +38.4% |
| JPM JPMorgan Chase & Co. | 0.01% | 3,308 | $973K | Reduce -71.0% |
| MAR Marriott International Class A | 0.01% | 2,838 | $928K | Reduce -72.9% |
| HLT Hilton Worldwide Holdings Inc. | 0.01% | 2,990 | $909K | Reduce -72.9% |
| TALK Talkspace Inc. | 0.01% | 146,646 | $759K | New |
| EH Ehang Holdings Ltd.-SPS ADR | 0.01% | 76,985 | $748K | No change |
| SUNB Sunbelt Rentals Holdings Inc. | 0.01% | 15,591 | $741K | New |
| STKL Sunopta Inc. | 0.01% | 113,066 | $733K | New |
| V Visa Inc. Class A | 0.01% | 2,328 | $704K | Reduce -77.9% |
| LLY Eli Lilly & Co. | 0.01% | 584 | $537K | Reduce -75.5% |
| ACN Accenture PLC Class A | 0.01% | 2,665 | $528K | Reduce -99.5% |
| QFIN Qfin Holdings Inc.-ADR | 0.01% | 39,081 | $505K | No change |
| SNCY Sun Country Airlines Holding filed as SUN CTRY AIRLS HLDGS INC | 0.01% | 30,525 | $504K | New |
| INTU Intuit Inc. | 0.01% | 1,164 | $503K | Reduce -87.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.01% | 1,372 | $464K | Reduce -34.7% |
| NFLX Netflix Inc. | 0.00% | 3,071 | $295K | Reduce -99.2% |
| DAWN Day One Biopharmaceuticals I | 0.00% | 13,691 | $294K | New |
| CCO Clear Channel Outdoor Holdin | 0.00% | 58,471 | $139K | New |
Options reported separately and not counted above: EOSE calls ($0), MSFT calls ($0), MU calls ($0), PTON calls ($0).
Portfolio Sells Q4 2025 → Q1 2026
| MSFT Microsoft Corp. | Reduce -79.8% | 1.22% | −5.72 |
| ACN Accenture PLC Class A | Reduce -99.5% | 0.01% | −1.92 |
| SLB SLB Ltd. | Reduce -79.7% | 0.75% | −1.68 |
| EFX Equifax Inc. | Reduce -51.4% | 1.01% | −1.19 |
| NOW ServiceNow Inc. | Reduce -12.7% | 2.43% | −1.16 |
| TMO Thermo Fisher Scientific Inc. | Reduce -88.7% | 0.12% | −0.98 |
| CL Colgate-Palmolive Co. | Reduce -79.5% | 0.31% | −0.92 |
| APH Amphenol Corp. Class A | Reduce -44.0% | 1.30% | −0.88 |
| CRM Salesforce Inc. | Reduce -3.4% | 2.79% | −0.82 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −0.69 |
| FNV Franco-Nevada Corp. | Sold out | 0.00% | −0.63 |
| AEM Agnico Eagle Mines Ltd. | Sold out | 0.00% | −0.62 |
| KEYS Keysight Technologies Inc. | Reduce -95.3% | 0.04% | −0.54 |
| ANET Arista Networks Inc. | Reduce -31.7% | 1.41% | −0.53 |
| NFLX Netflix Inc. | Reduce -99.2% | 0.00% | −0.50 |
| PG The Procter & Gamble Co. | Reduce -74.6% | 0.20% | −0.48 |
| AMZN Amazon.com Inc. | Reduce -10.6% | 4.51% | −0.41 |
| NEM Newmont Corp. | Sold out | 0.00% | −0.36 |
| GTLB Gitlab Inc. Class A | Reduce -27.7% | 0.31% | −0.35 |
| HTHT H World Group Ltd.-ADR | Sold out | 0.00% | −0.30 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.28 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −0.26 |
| ICE Intercontinental Exchange Inc. | Reduce -16.4% | 2.78% | −0.23 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.21 |
| AGI Alamos Gold Inc. Class A | Sold out | 0.00% | −0.17 |
| CLX Clorox Company | Sold out | 0.00% | −0.17 |
| OC Owens Corning | Sold out | 0.00% | −0.16 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -22.6% | 1.02% | −0.16 |
| FYBR Frontier Communications Pare | Sold out | 0.00% | −0.15 |
| GL Globe Life Inc. | Reduce -35.9% | 0.36% | −0.14 |
| CMA Comerica Inc. | Sold out | 0.00% | −0.13 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.11 |
| DENN Denny's Corp. | Sold out | 0.00% | −0.11 |
| SHCO Soho House & Co. Inc. | Sold out | 0.00% | −0.09 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.09 |
| DAY Dayforce Inc. | Sold out | 0.00% | −0.07 |
| INTU Intuit Inc. | Reduce -87.3% | 0.01% | −0.07 |
| CWAN Clearwater Analytics HDS-A | Reduce -68.6% | 0.03% | −0.06 |
| TWLO Twilio Inc. Class A | Reduce -60.0% | 0.04% | −0.06 |
| RNAM Avidity Biosciences Inc. | Sold out | 0.00% | −0.06 |
| CDTX Cidara Therapeutics Inc. | Sold out | 0.00% | −0.06 |
| CFLT Confluent Inc. Class A | Sold out | 0.00% | −0.06 |
| CDNS Cadence Design SYS Inc. | Sold out | 0.00% | −0.05 |
| NGD New Gold Inc. | Sold out | 0.00% | −0.04 |
| CSCO Cisco Systems Inc. | Reduce -72.9% | 0.02% | −0.04 |
| CADE Cadence Bank | Sold out | 0.00% | −0.04 |
| HD Home Depot Inc. | Reduce -26.9% | 0.15% | −0.04 |
| V Visa Inc. Class A | Reduce -77.9% | 0.01% | −0.04 |
| HI Hillenbrand Inc. | Sold out | 0.00% | −0.04 |
| COST Costco Wholesale Corp. | Reduce -75.3% | 0.02% | −0.04 |
Portfolio Buys Q4 2025 → Q1 2026
| NVDA Nvidia Corp. | Add +25.6% | 12.23% | +3.06 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 3.00% | +3.00 |
| MELI MercadoLibre Inc. | Add +76.5% | 6.62% | +2.77 |
| AVGO Broadcom Inc. | Add +289.4% | 2.57% | +1.92 |
| COR Cencora Inc. | Add +25.8% | 5.32% | +1.32 |
| BKNG Booking Holdings Inc. | New | 0.95% | +0.95 |
| WDAY Workday Inc. Class A | New | 0.91% | +0.91 |
| TW Tradeweb Markets Inc. Class A | Add +3.2% | 4.13% | +0.91 |
| REGN Regeneron Pharmaceuticals | Add +133.3% | 1.38% | +0.86 |
| META Meta Platforms Inc. Class A | Add +158.1% | 1.01% | +0.61 |
| MA Mastercard Inc. Class A | Add +27.0% | 2.92% | +0.61 |
| LNTH Lantheus Holdings Inc. | Add +18.4% | 1.55% | +0.54 |
| CRDO Credo Technology Group Holdi | New | 0.53% | +0.53 |
| PH Parker Hannifin Corp. | New | 0.49% | +0.49 |
| RPRX Royalty Pharma PLC Class A | New | 0.47% | +0.47 |
| ABNB Airbnb Inc. Class A | Add +40.8% | 1.28% | +0.42 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +20.7% | 1.11% | +0.42 |
| DOCS Doximity Inc. Class A | Add +127.8% | 1.54% | +0.41 |
| TME Tencent Music Entertainm-ADR | Add +2635.9% | 0.41% | +0.39 |
| SFM Sprouts Farmers Market Inc. | Add +31.8% | 0.83% | +0.26 |
| NBIX Neurocrine Biosciences Inc. | Add +192.4% | 0.38% | +0.25 |
| WBS Webster Financial Corp. | New | 0.21% | +0.21 |
| HOLX Hologic Inc. | Add +263.6% | 0.24% | +0.18 |
| MASI Masimo Corp. | New | 0.18% | +0.18 |
| AL Sumisho Air Lease Corp. | Add +106.7% | 0.26% | +0.15 |
| OS Onestream Inc. | New | 0.14% | +0.14 |
| CHD Church & Dwight Co. Inc. | New | 0.14% | +0.14 |
| KLAC KLA Corp. | Add +125.0% | 0.20% | +0.14 |
| FOLD Amicus Therapeutics Inc. | Add +302.6% | 0.17% | +0.14 |
| SPGI S&P Global Inc. | Add +10.4% | 6.24% | +0.13 |
| GTLS Chart Industries Inc. | Add +48.5% | 0.26% | +0.11 |
| ALAB Astera Labs Inc. | New | 0.10% | +0.10 |
| VTMX Corp. Inmobiliaria Vesta-ADR | Add +3.3% | 0.42% | +0.09 |
| SLAB Silicon Laboratories Inc. | New | 0.09% | +0.09 |
| DBRG Digitalbridge Group Inc. | New | 0.09% | +0.09 |
| VIPS Vipshop Holdings Ltd. - ADR | Add +7.7% | 1.08% | +0.09 |
| TEAM Atlassian Corp. Class A | Add +115.8% | 2.73% | +0.09 |
| MU Micron Technology Inc. | New | 0.08% | +0.08 |
| EA Electronic Arts Inc. | Add +70.3% | 0.15% | +0.07 |
| IONS Ionis Pharmaceuticals Inc. | New | 0.06% | +0.06 |
| TBBB BBB Foods Inc. Class A | New | 0.06% | +0.06 |
| SEMR Semrush Holdings Inc. Class A | New | 0.06% | +0.06 |
| JHG Janus Henderson Group PLC | Add +57.3% | 0.11% | +0.05 |
| SEM Select Medical Holdings Corp. | New | 0.04% | +0.04 |
| TERN Terns Pharmaceuticals Inc. | New | 0.04% | +0.04 |
| CTLP Cantaloupe Inc. | Add +10.1% | 0.18% | +0.04 |
| P Everpure Inc. Class A | New | 0.04% | +0.04 |
| SKYT Skywater Technology Inc. | New | 0.04% | +0.04 |
| ACLX Arcellx Inc. | New | 0.03% | +0.03 |
| WBD Warner Bros Discovery Inc. | Add +27.1% | 0.10% | +0.03 |
Options Activity Q4 2025 → Q1 2026
| AVGO Broadcom Inc. | call | Sold out | 6,700 | $0before exit |
| EOSE Eos Energy Enterprises Inc. | call | New | 26,000 | $0 |
| META Meta Platforms Inc. Class A | call | Sold out | 4,500 | $0before exit |
| FE Firstenergy Corp. | call | Sold out | 447,100 | $0before exit |
| MSFT Microsoft Corp. | call | New | 10,400 | $0 |
| MU Micron Technology Inc. | call | New | 5,400 | $0 |
| NVDA Nvidia Corp. | call | Sold out | 10,000 | $0before exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 94 | $7.7B | NVDA, AVGO, COR, MCK, GOOGL |
| Q1 2026 | 108 | $6.5B | NVDA, MELI, SPGI, GOOGL, COR |
| Q4 2025 | 119 | $7.4B | NVDA, MSFT, SPGI, GOOGL, AMZN |
| Q3 2025 | 126 | $6.7B | NVDA, GOOGL, AMZN, SPGI, MELI |
| Q2 2025 | 122 | $6.5B | NVDA, AMZN, GOOGL, MELI, MCK |
| Q1 2025 | 152 | $6.1B | AMZN, NVDA, MCK, COR, CNC |
| Q4 2024 | 148 | $6.3B | AMZN, MSFT, NVDA, CNC, SLB |
| Q3 2024 | 167 | $6.0B | AMZN, SLB, MSFT, GOOGL, NVDA |
| Q2 2024 | 155 | $5.8B | MSFT, AMZN, GOOGL, SLB, NVDA |
| Q1 2024 | 140 | $6.3B | META, MSFT, AMD, AMZN, NVDA |