Dnca Finance

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Dnca Finance reported 91 stock positions worth $1.1 billion. Its top holding was Flutter Entertainment PLC-Di (FLUT) at 10.9% of the portfolio, followed by CRH (CRH, 7.9%) and Microsoft (MSFT, 4.9%). Compared with Q2 2024, it opened 9 new positions, sold out of 5, added to 20 and reduced 40. The biggest buy was a new position in AT&T (T) and the biggest sale Stellantis (STLA, shares −78%).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001752759
Portfolio Value
$1.1B (Q3 2024)
SEC Filing
0001104659-24-117685 ↗ filed Nov 13, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q2 2024: $1.1B Q2 2024 Q3 2024: $1.1B $1.1B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.3B Q2 2025 Q3 2025: $1.4B Q3 2025 Q4 2025: $1.7B Q4 2025 Q1 2026: $1.7B Q1 2026 Q2 2026: $2.0B Q2 2026

Holdings 91 stocks · $1.1B
FLUT Flutter Entertainment PLC-Di 10.94% 526,075 $124.0M Reduce -2.1%
CRH CRH PLC 7.91% 942,426 $89.7M Reduce -6.5%
MSFT Microsoft Corp. 4.86% 127,944 $55.1M Add +2.6%
V Visa Inc. Class A 4.64% 191,177 $52.6M Add +9.5%
META Meta Platforms Inc. Class A 4.51% 89,308 $51.1M Add +2.8%
NVDA Nvidia Corp. 4.17% 388,748 $47.2M Reduce -7.0%
RACE Ferrari NV 3.43% 82,965 $38.9M Reduce -17.1%
LIN Linde PLC 2.64% 62,780 $29.9M No change
TSM Taiwan Semiconductor-SP ADR 2.37% 154,500 $26.8M Reduce -4.0%
DE Deere & Co. 2.22% 60,300 $25.2M Add +0.7%
GOOGL Alphabet Inc. Class A 2.17% 148,000 $24.5M Add +14.8%
TT Trane Technologies PLC 1.80% 52,500 $20.4M Add +50.0%
SPOT Spotify Technology SA 1.80% 55,293 $20.4M Add +28.9%
AVGO Broadcom Inc. 1.79% 117,900 $20.3M Add +62.6%
AMZN Amazon.com Inc. 1.67% 101,850 $19.0M Add +102.7%
QGEN Qiagen NV 1.63% 408,780 $18.5M No change
CAT Caterpillar Inc. 1.60% 46,400 $18.1M Add +13.5%
JPM JPMorgan Chase & Co. 1.52% 81,766 $17.2M Reduce -34.1%
T AT&T Inc. 1.45% 747,100 $16.4M New
AAPL Apple Inc. 1.43% 69,470 $16.2M Add +62.5%
PANW Palo Alto Networks Inc. 1.40% 46,500 $15.9M Reduce -9.7%
SNPS Synopsys Inc. 1.39% 31,150 $15.8M Add +11.3%
HD Home Depot Inc. 1.34% 37,500 $15.2M Add +50.0%
DHR Danaher Corp. 1.32% 53,900 $15.0M Reduce -10.0%
TMO Thermo Fisher Scientific Inc. 1.27% 23,300 $14.4M Reduce -12.7%
A Agilent Technologies Inc. 1.09% 83,000 $12.3M No change
ADBE Adobe Inc. 1.05% 23,000 $11.9M Add +29.2%
WAB Wabtec Corp. 1.04% 64,563 $11.7M No change
STLA Stellantis NV 1.01% 823,955 $11.4M Reduce -78.2%
GS Goldman Sachs Group Inc. 0.98% 22,500 $11.1M New
NEE Nextera Energy Inc. 0.97% 130,000 $11.0M Reduce -15.6%
PG The Procter & Gamble Co. 0.91% 59,800 $10.4M New
DOLE Dole PLC 0.90% 629,370 $10.3M Reduce -20.8%
NOW ServiceNow Inc. 0.84% 10,600 $9.5M Reduce -30.3%
FISV Fiserv Inc. 0.82% 51,500 $9.3M New
CRM Salesforce Inc. 0.82% 33,800 $9.3M Reduce -15.5%
ETN Eaton Corp. PLC 0.81% 27,713 $9.2M Reduce -5.5%
UBER Uber Technologies Inc. 0.81% 121,716 $9.1M Add +33.7%
INTU Intuit Inc. 0.79% 14,400 $8.9M Reduce -8.9%
MDT Medtronic PLC 0.78% 98,359 $8.9M Reduce -41.5%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.78% 84,315 $8.8M No change
SN Sharkninja Inc. 0.78% 81,350 $8.8M No change
SYK Stryker Corp. 0.78% 24,400 $8.8M Reduce -9.3%
XYL Xylem Inc. 0.77% 65,000 $8.8M No change
LLY Eli Lilly & Co. 0.74% 9,413 $8.3M Reduce -54.5%
FSLR First Solar Inc. 0.69% 31,500 $7.9M No change
ENPH Enphase Energy Inc. 0.63% 63,500 $7.2M No change
MA Mastercard Inc. Class A 0.62% 14,300 $7.1M Reduce -31.9%
ACN Accenture PLC Class A 0.62% 19,900 $7.0M Reduce -31.0%
NFLX Netflix Inc. 0.60% 9,513 $6.7M Reduce -51.2%
AMD Advanced Micro Devices 0.57% 39,300 $6.4M No change
TAL Tal Education Group- ADR 0.57% 542,875 $6.4M Reduce -3.6%
AMAT Applied Materials Inc. 0.52% 29,200 $5.9M Reduce -23.7%
ANSS Ansys Inc. 0.52% 18,500 $5.9M Reduce -34.4%
ZTS Zoetis Inc. 0.48% 28,000 $5.5M No change
ISRG Intuitive Surgical Inc. 0.48% 11,000 $5.4M No change
MELI MercadoLibre Inc. 0.47% 2,580 $5.3M Reduce -3.0%
TOST Toast Inc. Class A 0.46% 183,000 $5.2M Reduce -19.0%
DDOG Datadog Inc. Class A 0.44% 43,000 $4.9M Reduce -49.4%
HDB HDFC Bank Ltd.-ADR 0.43% 78,000 $4.9M Reduce -14.4%
PCOR Procore Technologies Inc. 0.41% 75,200 $4.6M Reduce -38.5%
DHI D.R. Horton Inc. 0.37% 21,921 $4.2M New
JCI Johnson Controls Internation 0.36% 53,000 $4.1M No change
PDD PDD Holdings Inc. 0.31% 26,320 $3.5M No change
VEEV Veeva Systems Inc. Class A 0.30% 16,000 $3.4M New
CRWD CrowdStrike Holdings Inc. Class A 0.30% 11,950 $3.4M Reduce -40.3%
VLTO Veralto Corp. 0.28% 28,332 $3.2M No change
ADI Analog Devices Inc. 0.20% 10,000 $2.3M New
ARRY Array Technologies Inc. 0.16% 280,500 $1.9M No change
VRT Vertiv Holdings Co. Class A 0.15% 17,500 $1.7M New
SEDG Solaredge Technologies Inc. 0.07% 34,000 $779K No change
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.06% 53,000 $723K Reduce -40.5%
RL Ralph Lauren Corp. 0.06% 3,322 $644K Reduce -90.0%
AS Amer Sports Inc. 0.01% 7,994 $128K Add +24.1%
SKX Skechers USA Inc. Class A 0.01% 1,890 $126K Add +9.3%
MSGS Madison Square Garden Sports 0.01% 526 $110K Reduce -12.8%
MTN Vail Resorts Inc. 0.01% 583 $102K No change
CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP 0.01% 8,761 $96K No change
FWONK Liberty Media Corp. Class C 0.01% 1,234 $96K Reduce -28.6%
XPOF Xponential Fitness Inc. Class A 0.01% 7,091 $88K Add +3.0%
EA Electronic Arts Inc. 0.01% 611 $88K Reduce -29.0%
VFC VF Corp. 0.01% 4,258 $85K Reduce -1.9%
LTH Life Time Group Holdings Inc. 0.01% 3,423 $84K Reduce -10.7%
PLNT Planet Fitness Inc. Class A 0.01% 915 $74K Reduce -17.8%
COLM Columbia Sportswear Co. 0.01% 865 $72K No change
DOO BRP Inc./Ca- Sub Voting 0.01% 1,021 $61K No change
MANU Manchester United PLC Class A 0.00% 3,261 $53K No change
LULU Lululemon Athletica Inc. 0.00% 172 $47K Add +50.9%
DECK Deckers Outdoor Corp. 0.00% 288 $46K Add +140.0%
DKS Dick's Sporting Goods Inc. 0.00% 174 $36K New
ONON On Holding AG Class A filed as ON HLDG AG 0.00% 299 $15K Reduce -95.0%

Options reported separately and not counted above: QGEN calls ($1.0M).

Other holdings (33): bonds, preferreds, convertibles and warrants · $32.7M (not counted above)
SecurityClassShares / PrincipalValueChange
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal 11,900,000$11.7MReduce -7.8%
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) NOTE 1.125% 2/1 · principal 2,350,000$2.4MNew
ZILLOW GROUP INC (Z 2.75 05/15/25) NOTE 2.750% 5/1 · principal 1,450,000$1.6MReduce -21.6%
BENTLEY SYSTEMS (BSY 0.375 07/01/27) NOTE 0.375% 7/0 · principal 1,350,000$1.2MNo change
PALO ALTO NETWORKS (PANW 0.375 06/01/25) NOTE 0.375% 6/0 · principal 270,000$928KAdd +50.0%
SPOTIFY USA INC (SPOT 0 03/15/26) NOTE 3/1 · principal 900,000$898KNo change
ENPHASE ENERGY INC (ENPH 0 03/01/26) NOTE 3/0 · principal 900,000$846KNo change
SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal 550,000$792KNew
EXACT SCIENCES CORP (EXAS 0.375 03/01/28) NOTE 0.375% 3/0 · principal 800,000$749KAdd +50.9%
INSULET CORPORATION (PODD 0.375 09/01/26) NOTE 0.375% 9/0 · principal 620,000$742KNo change
CLOUDFLARE INC (NET 0 08/15/26) NOTE 8/1 · principal 800,000$741KNo change
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal 700,000$726KNew
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) NOTE 0.500% 8/0 · principal 700,000$722KNo change
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal 800,000$710KNew
H WORLD GROUP LTD (HTHT 3 05/01/26) NOTE 3.000% 5/0 · principal 600,000$689KAdd +200.0%
WORKIVA INC (WK 1.25 08/15/28) NOTE 1.250% 8/1 · principal 650,000$617KNew
ZSCALER INC. (ZS 0.125 07/01/25) NOTE 0.125% 7/0 · principal 500,000$611KNo change
DROPBOX INC (DBX 0 03/01/26) NOTE 3/0 · principal 600,000$582KNo change
NUTANIX INC (NTNX 0.25 10/01/27) NOTE 0.250%10/0 · principal 450,000$538KReduce -25.0%
ETSY INC (ETSY 0.25 06/15/28) NOTE 0.250% 6/1 · principal 650,000$533KNo change
EXPEDIA GROUP INC (EXPE 0 02/15/26) NOTE 2/1 · principal 550,000$525KNo change
WAYFAIR INC (W 3.25 09/15/27) NOTE 3.250% 9/1 · principal 400,000$483KAdd +166.7%
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal 400,000$477KNew
BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) NOTE 1.250% 5/1 · principal 450,000$431KNo change
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) NOTE 1.250% 9/1 · principal 370,000$421KNew
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal 350,000$354KNo change
PDD HOLDINGS INC (PDD 0 12/01/25) NOTE 12/0 · principal 350,000$353KAdd +133.3%
BLOCK INC (XYZ 0 05/01/26) NOTE 5/0 · principal 300,000$277KNo change
NIO INC (NIO 4.625 10/15/30) NOTE 4.625%10/1 · principal 300,000$271KNew
DROPBOX INC (DBX 0 03/01/28) NOTE 3/0 · principal 250,000$242KNo change
WIX LTD (WIX 0 08/15/25) NOTE 8/1 · principal 250,000$239KNo change
RAPID7 INC (RPD 0.25 03/15/27) NOTE 0.250% 3/1 · principal 250,000$228KReduce -37.5%
ETSY INC (ETSY 0.125 10/01/26) NOTE 0.125%10/0 · principal 80,000$79KNo change

Total filed on the 13F, all lines: $1.2B.

Portfolio Sells Q2 2024 → Q3 2024
STLA Stellantis NV Reduce -78.2% 1.01% −5.64
CARR Carrier Global Corp. Sold out 0.00% −1.64
MRK Merck & Co. Inc. Sold out 0.00% −1.30
LLY Eli Lilly & Co. Reduce -54.5% 0.74% −0.92
JPM JPMorgan Chase & Co. Reduce -34.1% 1.52% −0.69
NFLX Netflix Inc. Reduce -51.2% 0.60% −0.57
DDOG Datadog Inc. Class A Reduce -49.4% 0.44% −0.54
DV Doubleverify Holdings Inc. Sold out 0.00% −0.53
RL Ralph Lauren Corp. Reduce -90.0% 0.06% −0.46
WDAY Workday Inc. Class A Sold out 0.00% −0.41
NVDA Nvidia Corp. Reduce -7.0% 4.17% −0.39
MDT Medtronic PLC Reduce -41.5% 0.78% −0.39
CRWD CrowdStrike Holdings Inc. Class A Reduce -40.3% 0.30% −0.38
PCOR Procore Technologies Inc. Reduce -38.5% 0.41% −0.31
ANSS Ansys Inc. Reduce -34.4% 0.52% −0.28
AMAT Applied Materials Inc. Reduce -23.7% 0.52% −0.28
NOW ServiceNow Inc. Reduce -30.3% 0.84% −0.22
RACE Ferrari NV Reduce -17.1% 3.43% −0.20
MA Mastercard Inc. Class A Reduce -31.9% 0.62% −0.19
ACN Accenture PLC Class A Reduce -31.0% 0.62% −0.15
PANW Palo Alto Networks Inc. Reduce -9.7% 1.40% −0.14
INTU Intuit Inc. Reduce -8.9% 0.79% −0.13
DELL Dell Technologies -C Sold out 0.00% −0.11
TSM Taiwan Semiconductor-SP ADR Reduce -4.0% 2.37% −0.10
CRM Salesforce Inc. Reduce -15.5% 0.82% −0.09
HDB HDFC Bank Ltd.-ADR Reduce -14.4% 0.43% −0.09
TOST Toast Inc. Class A Reduce -19.0% 0.46% −0.06
NU Nu Holdings Ltd./Cayman Isl-A Reduce -40.5% 0.06% −0.04
TMO Thermo Fisher Scientific Inc. Reduce -12.7% 1.27% −0.03
SYK Stryker Corp. Reduce -9.3% 0.78% −0.03
ONON On Holding AG Class A Reduce -95.0% 0.00% −0.02
EA Electronic Arts Inc. Reduce -29.0% 0.01% −0.00
FWONK Liberty Media Corp. Class C Reduce -28.6% 0.01% −0.00
ETN Eaton Corp. PLC Reduce -5.5% 0.81% −0.00
PLNT Planet Fitness Inc. Class A Reduce -17.8% 0.01% −0.00
MSGS Madison Square Garden Sports Reduce -12.8% 0.01% −0.00
LTH Life Time Group Holdings Inc. Reduce -10.7% 0.01% +0.00
DHR Danaher Corp. Reduce -10.0% 1.32% +0.00
VFC VF Corp. Reduce -1.9% 0.01% +0.00
NEE Nextera Energy Inc. Reduce -15.6% 0.97% +0.01
TAL Tal Education Group- ADR Reduce -3.6% 0.57% +0.04
DOLE Dole PLC Reduce -20.8% 0.90% +0.05
MELI MercadoLibre Inc. Reduce -3.0% 0.47% +0.08
CRH CRH PLC Reduce -6.5% 7.91% +1.09
FLUT Flutter Entertainment PLC-Di Reduce -2.1% 10.94% +2.28

Portfolio Buys Q2 2024 → Q3 2024
T AT&T Inc. New 1.45% +1.45
GS Goldman Sachs Group Inc. New 0.98% +0.98
PG The Procter & Gamble Co. New 0.91% +0.91
AMZN Amazon.com Inc. Add +102.7% 1.67% +0.82
FISV Fiserv Inc. New 0.82% +0.82
TT Trane Technologies PLC Add +50.0% 1.80% +0.78
AVGO Broadcom Inc. Add +62.6% 1.79% +0.77
META Meta Platforms Inc. Class A Add +2.8% 4.51% +0.64
AAPL Apple Inc. Add +62.5% 1.43% +0.63
SPOT Spotify Technology SA Add +28.9% 1.80% +0.61
V Visa Inc. Class A Add +9.5% 4.64% +0.59
HD Home Depot Inc. Add +50.0% 1.34% +0.58
CAT Caterpillar Inc. Add +13.5% 1.60% +0.40
DHI D.R. Horton Inc. New 0.37% +0.37
VEEV Veeva Systems Inc. Class A New 0.30% +0.30
DE Deere & Co. Add +0.7% 2.22% +0.25
UBER Uber Technologies Inc. Add +33.7% 0.81% +0.22
ADI Analog Devices Inc. New 0.20% +0.20
ADBE Adobe Inc. Add +29.2% 1.05% +0.18
VRT Vertiv Holdings Co. Class A New 0.15% +0.15
GOOGL Alphabet Inc. Class A Add +14.8% 2.17% +0.09
AS Amer Sports Inc. Add +24.1% 0.01% +0.00
DKS Dick's Sporting Goods Inc. New 0.00% +0.00
DECK Deckers Outdoor Corp. Add +140.0% 0.00% +0.00
LULU Lululemon Athletica Inc. Add +50.9% 0.00% +0.00
SKX Skechers USA Inc. Class A Add +9.3% 0.01% +0.00
XPOF Xponential Fitness Inc. Class A Add +3.0% 0.01% −0.00
MSFT Microsoft Corp. Add +2.6% 4.86% −0.06
SNPS Synopsys Inc. Add +11.3% 1.39% −0.08

Notes & Other Activity Q2 2024 → Q3 2024
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal Reduce -7.8% 11,900,000 $11.7M
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) NOTE 1.125% 2/1 · principal New 2,350,000 $2.4M
ZILLOW GROUP INC (Z 2.75 05/15/25) NOTE 2.750% 5/1 · principal Reduce -21.6% 1,450,000 $1.6M
AIRBNB INC (ABNB 0 03/15/26) NOTE 3/1 · principal Sold out 1,400,000 $1.3Mbefore exit
CYBERARK SOFTWARE LTD (CYBR 0 11/15/24) NOTE 11/1 · principal Sold out 700,000 $1.2Mbefore exit
UNITY SOFTWARE INC (U 0 11/15/26) NOTE 11/1 · principal Sold out 1,400,000 $1.2Mbefore exit
PALO ALTO NETWORKS (PANW 0.375 06/01/25) NOTE 0.375% 6/0 · principal Add +50.0% 270,000 $928K
NICE LTD (NICEIT 0 09/15/25) NOTE 9/1 · principal Sold out 900,000 $849Kbefore exit
SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal New 550,000 $792K
EXACT SCIENCES CORP (EXAS 0.375 03/01/28) NOTE 0.375% 3/0 · principal Add +50.9% 800,000 $749K
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal New 700,000 $726K
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal New 800,000 $710K
H WORLD GROUP LTD (HTHT 3 05/01/26) NOTE 3.000% 5/0 · principal Add +200.0% 600,000 $689K
WORKIVA INC (WK 1.25 08/15/28) NOTE 1.250% 8/1 · principal New 650,000 $617K
BLOCK INC (XYZ 0.125 03/01/25) NOTE 0.125% 3/0 · principal Sold out 600,000 $579Kbefore exit
NUTANIX INC (NTNX 0.25 10/01/27) NOTE 0.250%10/0 · principal Reduce -25.0% 450,000 $538K
WAYFAIR INC (W 3.25 09/15/27) NOTE 3.250% 9/1 · principal Add +166.7% 400,000 $483K
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal New 400,000 $477K
DEXCOM INC (DXCM 0.25 11/15/25) NOTE 0.250%11/1 · principal Sold out 450,000 $451Kbefore exit
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) NOTE 1.250% 9/1 · principal New 370,000 $421K
PDD HOLDINGS INC (PDD 0 12/01/25) NOTE 12/0 · principal Add +133.3% 350,000 $353K
NIO INC (NIO 4.625 10/15/30) NOTE 4.625%10/1 · principal New 300,000 $271K
RAPID7 INC (RPD 0.25 03/15/27) NOTE 0.250% 3/1 · principal Reduce -37.5% 250,000 $228K
HUBSPOT INC (HUBS 0.375 06/01/25) NOTE 0.375% 6/0 · principal Sold out 100,000 $209Kbefore exit
SNAP INC (SNAP 0 05/01/27) NOTE 5/0 · principal Sold out 250,000 $209Kbefore exit
ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) NOTE 1.000%12/0 · principal Sold out 200,000 $162Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 90$2.0BTTE, CRH, AZN, RACE, NVDA
Q1 2026 83$1.7BTTE, AZN, CRH, RACE, NVDA
Q4 2025 77$1.7BTTE, GOOGL, MSFT, RACE, NVDA
Q3 2025 75$1.4BMSFT, NVDA, GOOGL, META, FLUT
Q2 2025 75$1.3BMSFT, V, NVDA, FLUT, META
Q1 2025 95$1.2BFLUT, V, CRH, RACE, META
Q4 2024 98$1.3BFLUT, CRH, V, MSFT, NVDA
Q3 2024 91$1.1BFLUT, CRH, MSFT, V, META
Q2 2024 87$1.1BFLUT, CRH, STLA, MSFT, NVDA