Covea Finance

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 16, 2025), Covea Finance reported 122 stock positions worth $2.9 billion. Its top holding was Microsoft (MSFT) at 7.0% of the portfolio, followed by Apple (AAPL, 5.8%) and Nvidia (NVDA, 4.2%). Compared with Q2 2025, it opened 7 new positions, sold out of 4, added to 42 and reduced 47. The biggest buy was a new position in MSCI (MSCI) and the biggest sale Netflix (NFLX, shares −21%).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001636948
Portfolio Value
$2.9B (Q3 2025)
SEC Filing
0001636948-25-000009 ↗ filed Oct 16, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $2.1B Q1 2024 Q2 2024: $2.2B Q2 2024 Q3 2024: $2.3B Q3 2024 Q4 2024: $2.2B Q4 2024 Q1 2025: $2.2B Q1 2025 Q2 2025: $2.7B Q2 2025 Q3 2025: $2.9B $2.9B Q3 2025 Q4 2025: $3.0B Q4 2025 Q1 2026: $2.9B Q1 2026 Q2 2026: $3.2B Q2 2026

Holdings 122 stocks · $2.9B
MSFT Microsoft Corp. 7.03% 389,369 $201.7M Add +0.1%
AAPL Apple Inc. 5.83% 657,284 $167.4M Reduce -1.7%
NVDA Nvidia Corp. 4.25% 653,287 $121.9M Add +8.7%
GOOGL Alphabet Inc. Class A 3.95% 466,703 $113.5M Reduce -0.1%
AMZN Amazon.com Inc. 2.55% 333,399 $73.2M Reduce -8.8%
CCJ Cameco Corp. 2.39% 817,680 $68.6M Reduce -21.4%
V Visa Inc. Class A 2.14% 179,772 $61.4M Reduce -9.6%
WMT Walmart Inc. 2.09% 582,980 $60.1M Reduce -2.1%
FNV Franco-Nevada Corp. 1.87% 241,058 $53.6M Reduce -2.9%
AVGO Broadcom Inc. 1.84% 159,970 $52.8M Reduce -2.1%
NFLX Netflix Inc. 1.82% 43,567 $52.2M Reduce -20.7%
WM Waste Management Inc. 1.80% 233,353 $51.5M Reduce -9.2%
MSI Motorola Solutions Inc. 1.77% 111,219 $50.9M Add +5.9%
ABT Abbott Laboratories 1.66% 355,054 $47.6M Reduce -7.8%
TMO Thermo Fisher Scientific Inc. 1.63% 96,517 $46.8M Reduce -4.6%
NOW ServiceNow Inc. 1.56% 48,620 $44.7M Add +7.8%
HWM Howmet Aerospace Inc. 1.50% 219,809 $43.1M Reduce -16.6%
EMR Emerson Electric Co. 1.43% 312,669 $41.0M Reduce -8.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.42% 281,468 $40.7M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.42% 354,888 $40.6M Reduce -2.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.37% 762,400 $39.3M Add +12.6%
ZTS Zoetis Inc. 1.35% 264,497 $38.7M Reduce -7.8%
ISRG Intuitive Surgical Inc. 1.32% 84,732 $37.9M Reduce -1.4%
COST Costco Wholesale Corp. 1.31% 40,664 $37.6M Reduce -3.7%
XYL Xylem Inc. 1.19% 231,547 $34.2M Add +25.5%
PANW Palo Alto Networks Inc. 1.18% 166,000 $33.8M Add +6.2%
TXN Texas Instruments Inc. 1.16% 181,730 $33.4M Reduce -20.8%
JPM JPMorgan Chase & Co. 1.15% 104,200 $32.9M Add +12.5%
ADBE Adobe Inc. 1.09% 88,879 $31.4M Add +2.9%
HUBB Hubbell Inc. 1.08% 71,708 $30.9M Reduce -6.0%
LLY Eli Lilly & Co. 1.07% 40,070 $30.6M Reduce -9.9%
MSCI MSCI Inc. 1.06% 53,387 $30.3M New
MAR Marriott International Class A 1.03% 113,358 $29.5M Add +120.4%
AXP American Express Co. 1.01% 87,300 $29.0M Add +57.0%
KO The Coca-Cola Co. 1.00% 434,200 $28.8M Add +32.1%
TDY Teledyne Technologies Inc. 0.99% 48,234 $28.3M Add +6.5%
LOW Lowe's Cos Inc. 0.96% 109,642 $27.6M Reduce -3.8%
LNG Cheniere Energy Inc. 0.91% 111,300 $26.2M Add +17.8%
BWXT BWX Technologies Inc. 0.91% 141,756 $26.1M Reduce -17.7%
NKE Nike Inc. Class B 0.90% 369,979 $25.8M Reduce -9.3%
ENB Enbridge Inc. 0.89% 506,920 $25.6M Add +2.0%
AWK American Water Works Co. Inc. 0.84% 174,167 $24.2M Add +3.8%
MKC McCormick & Co.-Non VTG SHRS 0.83% 355,890 $23.8M Add +6.7%
PH Parker Hannifin Corp. 0.81% 30,841 $23.4M Reduce -7.6%
ROK Rockwell Automation Inc. 0.81% 66,309 $23.2M Add +2.5%
CW Curtiss-Wright Corp. 0.78% 41,081 $22.3M Reduce -4.4%
WAB Wabtec Corp. 0.71% 101,246 $20.3M Reduce -12.7%
CDNS Cadence Design SYS Inc. 0.69% 56,561 $19.9M Add +0.9%
APH Amphenol Corp. Class A 0.68% 158,520 $19.6M Reduce -9.7%
EVR Evercore Inc. Class A 0.64% 54,800 $18.5M New
ROL Rollins Inc. 0.64% 310,453 $18.2M Reduce -17.8%
CMS CMS Energy Corp. 0.61% 237,350 $17.4M Add +0.6%
CLH Clean Harbors Inc. 0.56% 69,387 $16.1M Reduce -1.6%
MS Morgan Stanley 0.56% 100,200 $15.9M Add +106.6%
ORLY O'reilly Automotive Inc. 0.55% 145,545 $15.7M Reduce -5.9%
BDX Becton Dickinson and Co. 0.51% 78,847 $14.8M Add +10.7%
ECL Ecolab Inc. 0.51% 52,954 $14.5M No change
MLM Martin Marietta Materials 0.50% 22,874 $14.4M No change
CEG Constellation Energy 0.48% 41,886 $13.8M Add +91.4%
SHW The Sherwin-Williams Co. 0.46% 38,297 $13.3M No change
HON Honeywell International Inc. 0.46% 62,798 $13.2M No change
NUE Nucor Corp. 0.44% 94,200 $12.8M Add +75.4%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.44% 206,528 $12.7M Add +3.4%
AME Ametek Inc. 0.42% 64,266 $12.1M No change
MDLZ Mondelez International Inc. Class A 0.42% 192,420 $12.0M Add +5.5%
ITW Illinois Tool Works 0.42% 46,045 $12.0M No change
JEF Jefferies Financial Group Inc. 0.40% 175,600 $11.5M New
TSCO Tractor Supply Company 0.37% 184,487 $10.5M Add +6.3%
SYK Stryker Corp. 0.36% 28,034 $10.4M Add +7.7%
INGR Ingredion Inc. 0.36% 84,200 $10.3M Add +26.1%
ROP Roper Technologies Inc. 0.36% 20,480 $10.2M No change
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.35% 942,200 $10.2M New
OSK Oshkosh Corp. 0.35% 77,600 $10.1M Reduce -1.5%
ADI Analog Devices Inc. 0.35% 40,800 $10.0M Reduce -7.3%
MDB Mongodb Inc. 0.35% 32,200 $10.0M Reduce -23.7%
CBOE Cboe Global Markets Inc. 0.34% 40,200 $9.9M Reduce -12.8%
DHR Danaher Corp. 0.34% 49,256 $9.8M No change
VMI Valmont Industries 0.34% 25,100 $9.7M Add +35.0%
TRGP Targa Resources Corp. 0.33% 56,390 $9.4M No change
EQIX Equinix Inc. 0.31% 11,391 $8.9M No change
GMED Globus Medical Inc. Class A 0.30% 151,500 $8.7M Add +3.0%
BKR Baker Hughes Co. 0.29% 169,800 $8.3M Reduce -12.8%
NEE Nextera Energy Inc. 0.28% 107,576 $8.1M Reduce -48.6%
BMRN Biomarin Pharmaceutical Inc. 0.28% 145,800 $7.9M Add +7.8%
SXT Sensient Technologies Corp. 0.27% 81,400 $7.6M New
CP Canadian Pacific Kansas City 0.26% 99,934 $7.4M Add +87.9%
SBUX Starbucks Corp. 0.24% 82,994 $7.0M Reduce -40.3%
KEYS Keysight Technologies Inc. 0.23% 37,988 $6.6M No change
PNC PNC Financial Services Group 0.22% 32,000 $6.4M New
EW Edwards Lifesciences Corp. 0.22% 81,101 $6.3M New
WWD Woodward Inc. 0.22% 24,500 $6.2M Reduce -8.9%
DDOG Datadog Inc. Class A 0.21% 43,000 $6.1M Add +5.9%
PG The Procter & Gamble Co. 0.21% 39,649 $6.1M Reduce -39.4%
UBER Uber Technologies Inc. 0.21% 60,100 $5.9M Add +9.3%
GILD Gilead Sciences Inc. 0.20% 51,700 $5.7M No change
CMC Commercial Metals Co. 0.20% 97,800 $5.6M Reduce -16.7%
ITT Itt Inc. 0.19% 30,300 $5.4M Reduce -19.6%
COHR Coherent Corp. 0.18% 48,000 $5.2M Add +26.0%
DCI Donaldson Co. Inc. 0.18% 61,900 $5.1M Reduce -27.8%
BURL Burlington Stores Inc. 0.16% 18,500 $4.7M No change
DE Deere & Co. 0.16% 10,243 $4.7M No change
PTC PTC Inc. 0.16% 22,500 $4.6M Reduce -31.8%
ATI Ati Inc. 0.16% 55,300 $4.5M No change
CHE Chemed Corp. 0.15% 9,900 $4.4M No change
EXP Eagle Materials Inc. 0.15% 19,000 $4.4M Reduce -12.4%
WTRG Essential Utilities Inc. 0.15% 109,400 $4.4M Add +66.3%
H Hyatt Hotels Corp. Class A 0.15% 30,100 $4.3M Add +19.0%
POOL Pool Corp. 0.15% 13,700 $4.2M Add +31.7%
ZBH Zimmer Biomet Holdings Inc. 0.15% 42,600 $4.2M No change
IEX Idex Corp. 0.14% 25,400 $4.1M No change
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 0.14% 42,200 $3.9M Add +24.9%
DT Dynatrace Inc. 0.13% 78,500 $3.8M No change
HQY Healthequity Inc. 0.13% 39,200 $3.7M No change
MTSI Macom Technology Solutions H 0.13% 29,100 $3.6M No change
BSY Bentley Systems Inc. Class B 0.12% 67,100 $3.5M No change
RPM RPM International Inc. 0.12% 28,600 $3.4M Add +24.9%
SMPL The Simply Good Foods Co. 0.12% 134,000 $3.3M Reduce -45.4%
CSL Carlisle Cos Inc. 0.11% 9,400 $3.1M No change
KEX Kirby Corp. 0.11% 36,700 $3.1M No change
IOT Samsara Inc. Class A 0.11% 81,000 $3.0M Add +26.6%
NTR Nutrien Ltd. 0.10% 48,500 $2.8M Reduce -34.0%
CNM Core & Main Inc. Class A 0.08% 42,200 $2.3M No change

Portfolio Sells Q2 2025 → Q3 2025
NFLX Netflix Inc. Reduce -20.7% 1.82% −0.91
TXN Texas Instruments Inc. Reduce -20.8% 1.16% −0.61
V Visa Inc. Class A Reduce -9.6% 2.14% −0.48
CCJ Cameco Corp. Reduce -21.4% 2.39% −0.47
AMZN Amazon.com Inc. Reduce -8.8% 2.55% −0.43
ISRG Intuitive Surgical Inc. Reduce -1.4% 1.32% −0.41
WM Waste Management Inc. Reduce -9.2% 1.80% −0.39
DXCM Dexcom Inc. Sold out 0.00% −0.36
HWM Howmet Aerospace Inc. Reduce -16.6% 1.50% −0.32
ZTS Zoetis Inc. Reduce -7.8% 1.35% −0.31
ABT Abbott Laboratories Reduce -7.8% 1.66% −0.29
EMR Emerson Electric Co. Reduce -8.7% 1.43% −0.27
NEE Nextera Energy Inc. Reduce -48.6% 0.28% −0.26
DIS The Walt Disney Co. Reduce -2.3% 1.42% −0.26
COST Costco Wholesale Corp. Reduce -3.7% 1.31% −0.24
SBUX Starbucks Corp. Reduce -40.3% 0.24% −0.23
LLY Eli Lilly & Co. Reduce -9.9% 1.07% −0.22
WAB Wabtec Corp. Reduce -12.7% 0.71% −0.19
NKE Nike Inc. Class B Reduce -9.3% 0.90% −0.18
PG The Procter & Gamble Co. Reduce -39.4% 0.21% −0.17
SMPL The Simply Good Foods Co. Reduce -45.4% 0.12% −0.17
COO The Cooper Cos Inc. Sold out 0.00% −0.17
USB US Bancorp Sold out 0.00% −0.17
ROL Rollins Inc. Reduce -17.8% 0.64% −0.16
ON On Semiconductor Sold out 0.00% −0.13
HUBB Hubbell Inc. Reduce -6.0% 1.08% −0.08
WMT Walmart Inc. Reduce -2.1% 2.09% −0.07
NTR Nutrien Ltd. Reduce -34.0% 0.10% −0.06
CBOE Cboe Global Markets Inc. Reduce -12.8% 0.34% −0.06
PTC PTC Inc. Reduce -31.8% 0.16% −0.05
PH Parker Hannifin Corp. Reduce -7.6% 0.81% −0.05
DCI Donaldson Co. Inc. Reduce -27.8% 0.18% −0.04
CLH Clean Harbors Inc. Reduce -1.6% 0.56% −0.04
ADI Analog Devices Inc. Reduce -7.3% 0.35% −0.04
ITT Itt Inc. Reduce -19.6% 0.19% −0.03
WWD Woodward Inc. Reduce -8.9% 0.22% −0.03
CMC Commercial Metals Co. Reduce -16.7% 0.20% −0.02
BWXT BWX Technologies Inc. Reduce -17.7% 0.91% −0.01
EXP Eagle Materials Inc. Reduce -12.4% 0.15% −0.01
CW Curtiss-Wright Corp. Reduce -4.4% 0.78% −0.00
BKR Baker Hughes Co. Reduce -12.8% 0.29% +0.01
OSK Oshkosh Corp. Reduce -1.5% 0.35% +0.02
MDB Mongodb Inc. Reduce -23.7% 0.35% +0.02
LOW Lowe's Cos Inc. Reduce -3.8% 0.96% +0.02
ORLY O'reilly Automotive Inc. Reduce -5.9% 0.55% +0.03
APH Amphenol Corp. Class A Reduce -9.7% 0.68% +0.04
TMO Thermo Fisher Scientific Inc. Reduce -4.6% 1.63% +0.11
AVGO Broadcom Inc. Reduce -2.1% 1.84% +0.17
FNV Franco-Nevada Corp. Reduce -2.9% 1.87% +0.36
AAPL Apple Inc. Reduce -1.7% 5.83% +0.74

Portfolio Buys Q2 2025 → Q3 2025
MSCI MSCI Inc. New 1.06% +1.06
NVDA Nvidia Corp. Add +8.7% 4.25% +0.72
EVR Evercore Inc. Class A New 0.64% +0.64
MAR Marriott International Class A Add +120.4% 1.03% +0.51
JEF Jefferies Financial Group Inc. New 0.40% +0.40
ORLA Orla Mining Ltd. New 0.35% +0.35
AXP American Express Co. Add +57.0% 1.01% +0.35
XYL Xylem Inc. Add +25.5% 1.19% +0.30
MS Morgan Stanley Add +106.6% 0.56% +0.30
SXT Sensient Technologies Corp. New 0.27% +0.27
PNC PNC Financial Services Group New 0.22% +0.22
EW Edwards Lifesciences Corp. New 0.22% +0.22
CEG Constellation Energy Add +91.4% 0.48% +0.22
NUE Nucor Corp. Add +75.4% 0.44% +0.19
BAC Bank of America Corp. Add +12.6% 1.37% +0.18
JPM JPMorgan Chase & Co. Add +12.5% 1.15% +0.15
KO The Coca-Cola Co. Add +32.1% 1.00% +0.14
MSI Motorola Solutions Inc. Add +5.9% 1.77% +0.13
TDY Teledyne Technologies Inc. Add +6.5% 0.99% +0.12
VMI Valmont Industries Add +35.0% 0.34% +0.11
CP Canadian Pacific Kansas City Add +87.9% 0.26% +0.10
WTRG Essential Utilities Inc. Add +66.3% 0.15% +0.06
BDX Becton Dickinson and Co. Add +10.7% 0.51% +0.06
ENB Enbridge Inc. Add +2.0% 0.89% +0.06
LNG Cheniere Energy Inc. Add +17.8% 0.91% +0.06
COHR Coherent Corp. Add +26.0% 0.18% +0.05
CDNS Cadence Design SYS Inc. Add +0.9% 0.69% +0.05
POOL Pool Corp. Add +31.7% 0.15% +0.04
TSCO Tractor Supply Company Add +6.3% 0.37% +0.03
RPM RPM International Inc. Add +24.9% 0.12% +0.02
INGR Ingredion Inc. Add +26.1% 0.36% +0.02
H Hyatt Hotels Corp. Class A Add +19.0% 0.15% +0.02
UBER Uber Technologies Inc. Add +9.3% 0.21% +0.01
DDOG Datadog Inc. Class A Add +5.9% 0.21% +0.01
IOT Samsara Inc. Class A Add +26.6% 0.11% +0.01
ROK Rockwell Automation Inc. Add +2.5% 0.81% +0.01
BJ Bj's Wholesale Club Holdings Add +24.9% 0.14% +0.00
BMRN Biomarin Pharmaceutical Inc. Add +7.8% 0.28% −0.00
CMS CMS Energy Corp. Add +0.6% 0.61% −0.00
PANW Palo Alto Networks Inc. Add +6.2% 1.18% −0.01
GMED Globus Medical Inc. Class A Add +3.0% 0.30% −0.02
SYK Stryker Corp. Add +7.7% 0.36% −0.02
AWK American Water Works Co. Inc. Add +3.8% 0.84% −0.02
MDLZ Mondelez International Inc. Class A Add +5.5% 0.42% −0.04
IFF Intl Flavors & Fragrances Add +3.4% 0.44% −0.10
MKC McCormick & Co.-Non VTG SHRS Add +6.7% 0.83% −0.11
ADBE Adobe Inc. Add +2.9% 1.09% −0.15
MSFT Microsoft Corp. Add +0.1% 7.03% −0.16
NOW ServiceNow Inc. Add +7.8% 1.56% −0.16

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 153$3.2BGOOGL, AAPL, NVDA, AMZN, MSFT
Q1 2026 146$2.9BMSFT, AAPL, GOOGL, AMZN, NVDA
Q4 2025 128$3.0BMSFT, AAPL, GOOGL, NVDA, AMZN
Q3 2025 122$2.9BMSFT, AAPL, NVDA, GOOGL, AMZN
Q2 2025 119$2.7BMSFT, AAPL, NVDA, GOOGL, AMZN
Q1 2025 114$2.2BAAPL, MSFT, AMZN, V, GOOGL
Q4 2024 106$2.2BMSFT, AAPL, AMZN, NVDA, AVGO
Q3 2024 107$2.3BMSFT, AAPL, AMZN, NVDA, AVGO
Q2 2024 105$2.2BMSFT, NVDA, AMZN, AAPL, NFLX
Q1 2024 106$2.1BMSFT, NVDA, AAPL, AMZN, DIS