Covea Finance

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 7, 2026), Covea Finance reported 128 stock positions worth $3.0 billion. Its top holding was Microsoft (MSFT) at 6.8% of the portfolio, followed by Apple (AAPL, 5.3%) and Alphabet Class A (GOOGL, 4.8%). Compared with Q3 2025, it opened 10 new positions, sold out of 5, added to 39 and reduced 31. The biggest buy was a new position in GE Vernova (GEV) and the biggest sale Zoetis (ZTS, shares −76%).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001636948
Portfolio Value
$3.0B (Q4 2025)
SEC Filing
0001636948-26-000001 ↗ filed Jan 7, 2026

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 Q3 2025 Q4 2025: $3.0B $3.0B Q4 2025 Q1 2026: $2.9B Q1 2026 Q2 2026: $3.2B Q2 2026

Holdings 128 stocks · $3.0B
MSFT Microsoft Corp. 6.81% 427,369 $206.7M Add +9.8%
AAPL Apple Inc. 5.29% 590,784 $160.6M Reduce -10.1%
GOOGL Alphabet Inc. Class A 4.75% 460,803 $144.2M Reduce -1.3%
NVDA Nvidia Corp. 4.21% 685,687 $127.9M Add +5.0%
AMZN Amazon.com Inc. 3.81% 500,899 $115.6M Add +50.2%
AVGO Broadcom Inc. 2.67% 234,070 $81.0M Add +46.3%
CCJ Cameco Corp. 2.25% 743,758 $68.2M Reduce -9.0%
WMT Walmart Inc. 2.16% 589,380 $65.7M Add +1.1%
V Visa Inc. Class A 2.08% 179,772 $63.0M No change
TMO Thermo Fisher Scientific Inc. 1.84% 96,517 $55.9M No change
WM Waste Management Inc. 1.79% 247,597 $54.4M Add +6.1%
ISRG Intuitive Surgical Inc. 1.62% 86,832 $49.2M Add +2.5%
HWM Howmet Aerospace Inc. 1.56% 231,309 $47.4M Add +5.2%
ABT Abbott Laboratories 1.52% 368,954 $46.2M Add +3.9%
MSI Motorola Solutions Inc. 1.52% 120,029 $46.0M Add +7.9%
EMR Emerson Electric Co. 1.44% 329,669 $43.8M Add +5.4%
FNV Franco-Nevada Corp. 1.43% 208,258 $43.3M Reduce -13.6%
NFLX Netflix Inc. 1.41% 456,270 $42.8M Add +4.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.33% 354,888 $40.4M No change
GEV GE Vernova Inc. 1.33% 61,570 $40.2M New
AXP American Express Co. 1.32% 108,000 $40.0M Add +23.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.31% 725,300 $39.9M Reduce -4.9%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.22% 241,368 $37.1M Reduce -14.3%
CEG Constellation Energy 1.19% 102,586 $36.2M Add +144.9%
NOW ServiceNow Inc. 1.18% 233,100 $35.7M Reduce -4.1%
EVR Evercore Inc. Class A 1.16% 103,900 $35.4M Add +89.6%
LLY Eli Lilly & Co. 1.10% 30,970 $33.3M Reduce -22.7%
MAR Marriott International Class A 1.09% 106,958 $33.2M Reduce -5.7%
MSCI MSCI Inc. 1.07% 56,647 $32.5M Add +6.1%
XYL Xylem Inc. 1.06% 236,147 $32.2M Add +2.0%
PANW Palo Alto Networks Inc. 1.04% 171,900 $31.7M Add +3.5%
ADI Analog Devices Inc. 1.00% 111,900 $30.3M Add +174.3%
NUE Nucor Corp. 0.94% 175,300 $28.6M Add +86.1%
HUBB Hubbell Inc. 0.93% 63,558 $28.2M Reduce -11.4%
KO The Coca-Cola Co. 0.91% 396,900 $27.7M Reduce -8.6%
PH Parker Hannifin Corp. 0.89% 30,841 $27.1M No change
TDY Teledyne Technologies Inc. 0.87% 51,834 $26.5M Add +7.5%
LOW Lowe's Cos Inc. 0.87% 109,642 $26.4M No change
MKC McCormick & Co.-Non VTG SHRS 0.85% 379,690 $25.9M Add +6.7%
JPM JPMorgan Chase & Co. 0.81% 76,500 $24.6M Reduce -26.6%
ENB Enbridge Inc. 0.80% 506,920 $24.3M No change
BWXT BWX Technologies Inc. 0.80% 139,656 $24.1M Reduce -1.5%
ROK Rockwell Automation Inc. 0.79% 61,709 $24.0M Reduce -6.9%
NKE Nike Inc. Class B 0.78% 369,979 $23.6M No change
MS Morgan Stanley 0.76% 130,400 $23.1M Add +30.1%
LNG Cheniere Energy Inc. 0.74% 115,400 $22.4M Add +3.7%
DHR Danaher Corp. 0.72% 95,956 $22.0M Add +94.8%
APH Amphenol Corp. Class A 0.71% 158,520 $21.4M No change
CW Curtiss-Wright Corp. 0.66% 36,281 $20.0M Reduce -11.7%
ROL Rollins Inc. 0.61% 310,453 $18.6M No change
CDNS Cadence Design SYS Inc. 0.58% 56,561 $17.7M No change
BKR Baker Hughes Co. 0.58% 387,500 $17.6M Add +128.2%
AWK American Water Works Co. Inc. 0.56% 130,567 $17.0M Reduce -25.0%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.54% 242,508 $16.3M Add +17.4%
CMS CMS Energy Corp. 0.53% 231,950 $16.2M Reduce -2.3%
WAB Wabtec Corp. 0.51% 72,246 $15.4M Reduce -28.6%
BDX Becton Dickinson and Co. 0.50% 78,847 $15.3M No change
SOLS Solstice Adv Materials Inc. 0.49% 305,472 $14.8M Add +1845.7%
MDLZ Mondelez International Inc. Class A 0.47% 266,790 $14.4M Add +38.6%
MLM Martin Marietta Materials 0.47% 22,874 $14.2M No change
ECL Ecolab Inc. 0.46% 52,954 $13.9M No change
TSCO Tractor Supply Company 0.45% 273,580 $13.7M Add +48.3%
TRGP Targa Resources Corp. 0.45% 73,220 $13.5M Add +29.9%
ORLY O'reilly Automotive Inc. 0.44% 145,545 $13.3M No change
AME Ametek Inc. 0.43% 64,266 $13.2M No change
SYK Stryker Corp. 0.43% 37,007 $13.0M Add +32.0%
COST Costco Wholesale Corp. 0.42% 14,854 $12.8M Reduce -63.5%
CLH Clean Harbors Inc. 0.41% 53,087 $12.4M Reduce -23.5%
SHW The Sherwin-Williams Co. 0.41% 38,297 $12.4M No change
HON Honeywell International Inc. 0.40% 62,798 $12.3M No change
ITW Illinois Tool Works 0.37% 46,045 $11.3M No change
ADBE Adobe Inc. 0.36% 31,444 $11.0M Reduce -64.6%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.36% 811,700 $10.9M Reduce -13.8%
TXN Texas Instruments Inc. 0.34% 59,850 $10.4M Reduce -67.1%
OSK Oshkosh Corp. 0.34% 82,400 $10.4M Add +6.2%
MDB Mongodb Inc. 0.34% 24,400 $10.2M Reduce -24.2%
PNC PNC Financial Services Group 0.33% 48,600 $10.1M Add +51.9%
VMI Valmont Industries 0.33% 25,100 $10.1M No change
CBOE Cboe Global Markets Inc. 0.33% 40,200 $10.1M No change
GMED Globus Medical Inc. Class A 0.32% 110,200 $9.6M Reduce -27.3%
INGR Ingredion Inc. 0.31% 84,200 $9.3M No change
ROP Roper Technologies Inc. 0.30% 20,480 $9.1M No change
SXT Sensient Technologies Corp. 0.29% 95,300 $9.0M Add +17.1%
EQIX Equinix Inc. 0.29% 11,391 $8.7M No change
BMRN Biomarin Pharmaceutical Inc. 0.29% 145,800 $8.7M No change
NEE Nextera Energy Inc. 0.28% 107,576 $8.6M No change
ZTS Zoetis Inc. 0.27% 64,164 $8.1M Reduce -75.7%
KEYS Keysight Technologies Inc. 0.25% 37,988 $7.7M No change
CP Canadian Pacific Kansas City 0.24% 99,934 $7.4M No change
SBUX Starbucks Corp. 0.23% 82,994 $7.0M No change
EW Edwards Lifesciences Corp. 0.23% 81,101 $6.9M No change
COHR Coherent Corp. 0.22% 36,400 $6.7M Reduce -24.2%
CMC Commercial Metals Co. 0.20% 89,000 $6.2M Reduce -9.0%
WWD Woodward Inc. 0.20% 20,300 $6.1M Reduce -17.1%
PG The Procter & Gamble Co. 0.20% 42,449 $6.1M Add +7.1%
DDOG Datadog Inc. Class A 0.19% 43,000 $5.8M No change
ATI Ati Inc. 0.19% 49,400 $5.7M Reduce -10.7%
DCI Donaldson Co. Inc. 0.18% 61,900 $5.5M No change
BURL Burlington Stores Inc. 0.18% 18,500 $5.3M No change
CSCO Cisco Systems Inc. 0.17% 68,200 $5.3M New
MTSI Macom Technology Solutions H 0.16% 29,100 $5.0M No change
UBER Uber Technologies Inc. 0.16% 60,100 $4.9M No change
ITT Itt Inc. 0.16% 28,300 $4.9M Reduce -6.6%
H Hyatt Hotels Corp. Class A 0.16% 30,100 $4.8M No change
DE Deere & Co. 0.16% 10,243 $4.8M No change
RGEN Repligen Corp. 0.15% 28,000 $4.6M New
IEX Idex Corp. 0.15% 25,400 $4.5M No change
CHE Chemed Corp. 0.14% 9,900 $4.2M No change
WTRG Essential Utilities Inc. 0.14% 109,400 $4.2M No change
MP MP Materials Corp. 0.14% 82,700 $4.2M New
EXP Eagle Materials Inc. 0.13% 19,000 $3.9M No change
PTC PTC Inc. 0.13% 22,500 $3.9M No change
ZBH Zimmer Biomet Holdings Inc. 0.13% 42,600 $3.8M No change
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 0.13% 42,200 $3.8M No change
HQY Healthequity Inc. 0.12% 39,200 $3.6M No change
RPM RPM International Inc. 0.12% 34,500 $3.6M Add +20.6%
DT Dynatrace Inc. 0.11% 78,500 $3.4M No change
IOT Samsara Inc. Class A 0.11% 91,600 $3.2M Add +13.1%
POOL Pool Corp. 0.10% 13,700 $3.1M No change
BSY Bentley Systems Inc. Class B 0.10% 80,100 $3.1M Add +19.4%
CSL Carlisle Cos Inc. 0.10% 9,400 $3.0M No change
MOG.A Moog Inc. Class A 0.09% 11,500 $2.8M New
AMKR Amkor Technology Inc. 0.08% 65,200 $2.6M New
TECH Bio-Techne Corp. 0.07% 38,300 $2.3M New
CNM Core & Main Inc. Class A 0.07% 42,200 $2.2M No change
CHD Church & Dwight Co. Inc. 0.07% 26,000 $2.2M New
SFM Sprouts Farmers Market Inc. 0.05% 20,500 $1.6M New
LEU Centrus Energy Corp. Class A 0.03% 4,000 $970K New

Portfolio Sells Q3 2025 → Q4 2025
ZTS Zoetis Inc. Reduce -75.7% 0.27% −1.08
COST Costco Wholesale Corp. Reduce -63.5% 0.42% −0.89
TXN Texas Instruments Inc. Reduce -67.1% 0.34% −0.82
ADBE Adobe Inc. Reduce -64.6% 0.36% −0.73
AAPL Apple Inc. Reduce -10.1% 5.29% −0.54
FNV Franco-Nevada Corp. Reduce -13.6% 1.43% −0.44
JEF Jefferies Financial Group Inc. Sold out 0.00% −0.40
NOW ServiceNow Inc. Reduce -4.1% 1.18% −0.38
JPM JPMorgan Chase & Co. Reduce -26.6% 0.81% −0.33
AWK American Water Works Co. Inc. Reduce -25.0% 0.56% −0.28
GILD Gilead Sciences Inc. Sold out 0.00% −0.20
WAB Wabtec Corp. Reduce -28.6% 0.51% −0.20
TJX TJX Companies Inc. Reduce -14.3% 1.22% −0.20
CLH Clean Harbors Inc. Reduce -23.5% 0.41% −0.15
HUBB Hubbell Inc. Reduce -11.4% 0.93% −0.15
CCJ Cameco Corp. Reduce -9.0% 2.25% −0.14
CW Curtiss-Wright Corp. Reduce -11.7% 0.66% −0.12
SMPL The Simply Good Foods Co. Sold out 0.00% −0.12
BWXT BWX Technologies Inc. Reduce -1.5% 0.80% −0.12
KEX Kirby Corp. Sold out 0.00% −0.11
NTR Nutrien Ltd. Sold out 0.00% −0.10
KO The Coca-Cola Co. Reduce -8.6% 0.91% −0.09
CMS CMS Energy Corp. Reduce -2.3% 0.53% −0.07
BAC Bank of America Corp. Reduce -4.9% 1.31% −0.06
ITT Itt Inc. Reduce -6.6% 0.16% −0.03
ROK Rockwell Automation Inc. Reduce -6.9% 0.79% −0.02
WWD Woodward Inc. Reduce -17.1% 0.20% −0.01
MDB Mongodb Inc. Reduce -24.2% 0.34% −0.01
ORLA Orla Mining Ltd. Reduce -13.8% 0.36% +0.01
CMC Commercial Metals Co. Reduce -9.0% 0.20% +0.01
GMED Globus Medical Inc. Class A Reduce -27.3% 0.32% +0.01
ATI Ati Inc. Reduce -10.7% 0.19% +0.03
LLY Eli Lilly & Co. Reduce -22.7% 1.10% +0.03
COHR Coherent Corp. Reduce -24.2% 0.22% +0.04
MAR Marriott International Class A Reduce -5.7% 1.09% +0.06
GOOGL Alphabet Inc. Class A Reduce -1.3% 4.75% +0.80

Portfolio Buys Q3 2025 → Q4 2025
GEV GE Vernova Inc. New 1.33% +1.33
AMZN Amazon.com Inc. Add +50.2% 3.81% +1.26
AVGO Broadcom Inc. Add +46.3% 2.67% +0.83
CEG Constellation Energy Add +144.9% 1.19% +0.71
ADI Analog Devices Inc. Add +174.3% 1.00% +0.65
EVR Evercore Inc. Class A Add +89.6% 1.16% +0.52
NUE Nucor Corp. Add +86.1% 0.94% +0.50
SOLS Solstice Adv Materials Inc. Add +1845.7% 0.49% +0.46
DHR Danaher Corp. Add +94.8% 0.72% +0.38
AXP American Express Co. Add +23.7% 1.32% +0.31
ISRG Intuitive Surgical Inc. Add +2.5% 1.62% +0.30
BKR Baker Hughes Co. Add +128.2% 0.58% +0.29
MS Morgan Stanley Add +30.1% 0.76% +0.21
CSCO Cisco Systems Inc. New 0.17% +0.17
RGEN Repligen Corp. New 0.15% +0.15
MP MP Materials Corp. New 0.14% +0.14
TRGP Targa Resources Corp. Add +29.9% 0.45% +0.12
PNC PNC Financial Services Group Add +51.9% 0.33% +0.11
IFF Intl Flavors & Fragrances Add +17.4% 0.54% +0.10
MOG.A Moog Inc. Class A New 0.09% +0.09
TSCO Tractor Supply Company Add +48.3% 0.45% +0.09
AMKR Amkor Technology Inc. New 0.08% +0.08
TECH Bio-Techne Corp. New 0.07% +0.07
CHD Church & Dwight Co. Inc. New 0.07% +0.07
WMT Walmart Inc. Add +1.1% 2.16% +0.07
SYK Stryker Corp. Add +32.0% 0.43% +0.07
HWM Howmet Aerospace Inc. Add +5.2% 1.56% +0.06
MDLZ Mondelez International Inc. Class A Add +38.6% 0.47% +0.05
SFM Sprouts Farmers Market Inc. New 0.05% +0.05
LEU Centrus Energy Corp. Class A New 0.03% +0.03
SXT Sensient Technologies Corp. Add +17.1% 0.29% +0.03
MKC McCormick & Co.-Non VTG SHRS Add +6.7% 0.85% +0.02
MSCI MSCI Inc. Add +6.1% 1.07% +0.02
EMR Emerson Electric Co. Add +5.4% 1.44% +0.01
IOT Samsara Inc. Class A Add +13.1% 0.11% +0.00
RPM RPM International Inc. Add +20.6% 0.12% +0.00
WM Waste Management Inc. Add +6.1% 1.79% −0.00
OSK Oshkosh Corp. Add +6.2% 0.34% −0.01
PG The Procter & Gamble Co. Add +7.1% 0.20% −0.01
BSY Bentley Systems Inc. Class B Add +19.4% 0.10% −0.02
NVDA Nvidia Corp. Add +5.0% 4.21% −0.03
TDY Teledyne Technologies Inc. Add +7.5% 0.87% −0.11
XYL Xylem Inc. Add +2.0% 1.06% −0.13
ABT Abbott Laboratories Add +3.9% 1.52% −0.13
PANW Palo Alto Networks Inc. Add +3.5% 1.04% −0.13
LNG Cheniere Energy Inc. Add +3.7% 0.74% −0.17
MSFT Microsoft Corp. Add +9.8% 6.81% −0.22
MSI Motorola Solutions Inc. Add +7.9% 1.52% −0.26
NFLX Netflix Inc. Add +4.7% 1.41% −0.41

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