Exane Asset Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 3, 2025), Exane Asset Management reported 34 stock positions worth $296.7 million. Its top holding was CRH (CRH) at 27.2% of the portfolio, followed by Ferrovial (FER, 12.4%) and JPMorgan Chase (JPM, 11.5%). Compared with Q2 2025, it opened 12 new positions, sold out of 4, added to 7 and reduced 12. The biggest buy was Ferrovial (FER, shares +15984%) and the biggest sale Bank of America (BAC, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- PARIS, I0
- CIK
- 0001666256
- Portfolio Value
- $296.7M (Q3 2025)
- SEC Filing
- 0001666256-25-000007 ↗ filed Nov 3, 2025
Holdings Value
Holdings 34 stocks · $296.7M
| CRH CRH PLC | 27.21% | 663,774 | $80.7M | Add +21.2% |
| FER Ferrovial NV | 12.45% | 644,471 | $36.9M | Add +15983.6% |
| JPM JPMorgan Chase & Co. | 11.48% | 91,874 | $34.1M | New |
| PNC PNC Financial Services Group | 11.15% | 140,190 | $33.1M | Add +2.8% |
| UBS UBS Group AG-Reg | 10.16% | 789,001 | $30.1M | Reduce -24.1% |
| SW Smurfit Westrock PLC | 5.82% | 345,393 | $17.3M | Add +35.4% |
| CCEP Coca-Cola Europacific Partne | 5.24% | 171,513 | $15.5M | Reduce -35.1% |
| STLA Stellantis NV | 4.37% | 1,401,411 | $13.0M | Add +134.3% |
| BSX Boston Scientific Corp. | 3.07% | 79,463 | $9.1M | New |
| SPOT Spotify Technology SA | 2.78% | 10,056 | $8.2M | Reduce -5.6% |
| CFLT Confluent Inc. Class A | 1.72% | 219,654 | $5.1M | Add +285164.9% |
| SNPS Synopsys Inc. | 1.61% | 8,232 | $4.8M | New |
| APGE Apogee Therapeutics Inc. | 0.81% | 51,543 | $2.4M | New |
| TEAM Atlassian Corp. Class A | 0.38% | 6,033 | $1.1M | New |
| CCC CCC Intelligent Solutions Ho | 0.30% | 82,141 | $879K | New |
| PCOR Procore Technologies Inc. | 0.25% | 8,620 | $739K | Reduce -19.2% |
| INTU Intuit Inc. | 0.24% | 887 | $712K | New |
| SNOW Snowflake Inc. | 0.23% | 2,613 | $693K | No change |
| ESTC Elastic NV | 0.14% | 4,334 | $430K | Reduce -56.3% |
| NOW ServiceNow Inc. | 0.14% | 372 | $402K | No change |
| PFE Pfizer Inc. | 0.13% | 12,821 | $384K | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.10% | 5,100 | $309K | Reduce -99.1% |
| LOGI Logitech International-Reg | 0.06% | 1,839 | $188K | Add +135.2% |
| ALC Alcon Inc. filed as ALCON AG | 0.04% | 1,499 | $104K | Reduce -98.8% |
| LLY Eli Lilly & Co. | 0.03% | 100 | $90K | Reduce -97.7% |
| DB Deutsche Bank AG-Registered | 0.03% | 2,318 | $82K | New |
| VRTX Vertex Pharmaceuticals Inc. | 0.02% | 100 | $46K | New |
| ZS Zscaler Inc. | 0.01% | 100 | $35K | No change |
| HUBS HubSpot Inc. | 0.01% | 64 | $35K | New |
| ABBV Abbvie Inc. | 0.01% | 103 | $28K | Reduce -99.5% |
| MDB Mongodb Inc. | 0.01% | 75 | $27K | New |
| DDOG Datadog Inc. Class A | 0.00% | 57 | $10K | Reduce -99.6% |
| RACE Ferrari NV | 0.00% | 12 | $6K | Reduce -100.0% |
| ORCL Oracle Corp. | 0.00% | 15 | $5K | Reduce -99.6% |
Portfolio Sells Q2 2025 → Q3 2025
| BAC Bank of America Corp. | Reduce -99.1% | 0.10% | −11.59 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −7.92 |
| CCEP Coca-Cola Europacific Partne | Reduce -35.1% | 5.24% | −4.23 |
| RACE Ferrari NV | Reduce -100.0% | 0.00% | −4.18 |
| ALC Alcon Inc. | Reduce -98.8% | 0.04% | −3.93 |
| UBS UBS Group AG-Reg | Reduce -24.1% | 10.16% | −2.62 |
| ABBV Abbvie Inc. | Reduce -99.5% | 0.01% | −1.72 |
| MSFT Microsoft Corp. | Sold out | 0.00% | −1.61 |
| LLY Eli Lilly & Co. | Reduce -97.7% | 0.03% | −1.54 |
| SPOT Spotify Technology SA | Reduce -5.6% | 2.78% | −0.97 |
| DDOG Datadog Inc. Class A | Reduce -99.6% | 0.00% | −0.80 |
| ORCL Oracle Corp. | Reduce -99.6% | 0.00% | −0.41 |
| ESTC Elastic NV | Reduce -56.3% | 0.14% | −0.24 |
| MS Morgan Stanley | Sold out | 0.00% | −0.21 |
| PCOR Procore Technologies Inc. | Reduce -19.2% | 0.25% | −0.09 |
| APD Air Products & Chemicals Inc. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| FER Ferrovial NV | Add +15983.6% | 12.45% | +12.37 |
| JPM JPMorgan Chase & Co. | New | 11.48% | +11.48 |
| CRH CRH PLC | Add +21.2% | 27.21% | +7.59 |
| BSX Boston Scientific Corp. | New | 3.07% | +3.07 |
| STLA Stellantis NV | Add +134.3% | 4.37% | +2.04 |
| CFLT Confluent Inc. Class A | Add +285164.9% | 1.72% | +1.72 |
| SNPS Synopsys Inc. | New | 1.61% | +1.61 |
| APGE Apogee Therapeutics Inc. | New | 0.81% | +0.81 |
| SW Smurfit Westrock PLC | Add +35.4% | 5.82% | +0.78 |
| TEAM Atlassian Corp. Class A | New | 0.38% | +0.38 |
| CCC CCC Intelligent Solutions Ho | New | 0.30% | +0.30 |
| INTU Intuit Inc. | New | 0.24% | +0.24 |
| PFE Pfizer Inc. | New | 0.13% | +0.13 |
| LOGI Logitech International-Reg | Add +135.2% | 0.06% | +0.04 |
| DB Deutsche Bank AG-Registered | New | 0.03% | +0.03 |
| VRTX Vertex Pharmaceuticals Inc. | New | 0.02% | +0.02 |
| HUBS HubSpot Inc. | New | 0.01% | +0.01 |
| MDB Mongodb Inc. | New | 0.01% | +0.01 |
| PNC PNC Financial Services Group | Add +2.8% | 11.15% | −0.49 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 28 | $276.7M | SW, FER, SPOT, DB, AZN |
| Q1 2026 | 32 | $489.2M | UBS, SW, AZN, FER, META |
| Q4 2025 | 34 | $475.3M | CRH, BAC, FER, UBS, LIN |
| Q3 2025 | 34 | $296.7M | CRH, FER, JPM, PNC, UBS |
| Q2 2025 | 26 | $256.2M | CRH, UBS, BAC, PNC, CCEP |
| Q1 2025Amended | 26 | $171.8M | UBS, PNC, CCEP, CRH, STLA |
| Q4 2024 | 27 | $175.7M | UBS, PNC, CCEP, FER, CRH |
| Q3 2024 | 18 | $124.9M | UBS, BAC, CCEP, STLA, TMUS |
| Q2 2024 | 18 | $142.6M | STLA, FER, PNC, CRH, CCEP |
| Q1 2024 | 13 | $129.6M | STLA, TMUS, CRH, PNC, JPM |