Generali Investments Towarzystwo Funduszy Inwestycyjnych
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 9, 2025), Generali Investments Towarzystwo Funduszy Inwestycyjnych reported 144 stock positions worth $157.5 million. Its top holding was Microsoft (MSFT) at 5.6% of the portfolio, followed by Alphabet Class A (GOOGL, 4.2%) and Analog Devices (ADI, 3.8%). Compared with Q4 2024, it opened 4 new positions, sold out of 3, added to 52 and reduced 36. The biggest buy was Microsoft (MSFT, shares +30%) and the biggest sale Alphabet Class A (GOOGL, shares −13%).
- Most Recent 13F
- Q2 2026
- Location
- WARSAW, R9
- CIK
- 0002043130
- Portfolio Value
- $157.5M (Q1 2025)
- SEC Filing
- 0002043130-25-000016 ↗ filed May 9, 2025
Holdings Value
Holdings 144 stocks · $157.5M
| MSFT Microsoft Corp. | 5.58% | 23,400 | $8.8M | Add +30.2% |
| GOOGL Alphabet Inc. Class A | 4.16% | 42,400 | $6.6M | Reduce -12.7% |
| ADI Analog Devices Inc. | 3.75% | 29,311 | $5.9M | Reduce -2.5% |
| ADBE Adobe Inc. | 3.46% | 14,216 | $5.5M | No change |
| NVDA Nvidia Corp. | 3.44% | 50,000 | $5.4M | Reduce -3.4% |
| NOW ServiceNow Inc. | 2.78% | 5,500 | $4.4M | Add +71.9% |
| AMD Advanced Micro Devices | 2.67% | 40,932 | $4.2M | Add +44.5% |
| AMAT Applied Materials Inc. | 2.46% | 26,650 | $3.9M | Add +12.7% |
| AAPL Apple Inc. | 2.45% | 17,380 | $3.9M | Reduce -26.8% |
| HUBS HubSpot Inc. | 2.39% | 6,600 | $3.8M | Add +24.5% |
| SNOW Snowflake Inc. | 2.18% | 23,500 | $3.4M | Add +25.7% |
| DDOG Datadog Inc. Class A | 2.14% | 34,000 | $3.4M | Add +58.1% |
| TSLA Tesla Inc. | 2.02% | 12,300 | $3.2M | Add +15.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 2.02% | 9,000 | $3.2M | Add +15.4% |
| PANW Palo Alto Networks Inc. | 1.86% | 17,200 | $2.9M | Add +26.5% |
| AMZN Amazon.com Inc. | 1.78% | 14,700 | $2.8M | Reduce -11.8% |
| NET Cloudflare Inc. Class A | 1.63% | 22,800 | $2.6M | Add +3.6% |
| MRVL Marvell Technology Inc. | 1.62% | 41,500 | $2.6M | Add +57.8% |
| MCHP Microchip Technology Inc. | 1.61% | 52,400 | $2.5M | Add +7.2% |
| BSX Boston Scientific Corp. | 1.54% | 24,000 | $2.4M | Reduce -4.0% |
| TXN Texas Instruments Inc. | 1.48% | 13,000 | $2.3M | Add +30.0% |
| MA Mastercard Inc. Class A | 1.46% | 4,200 | $2.3M | Reduce -17.1% |
| MDB Mongodb Inc. | 1.44% | 12,900 | $2.3M | Add +4.9% |
| MU Micron Technology Inc. | 1.36% | 24,600 | $2.1M | Reduce -7.7% |
| ISRG Intuitive Surgical Inc. | 1.26% | 4,000 | $2.0M | Reduce -4.8% |
| ENPH Enphase Energy Inc. | 1.14% | 29,000 | $1.8M | Add +52.6% |
| META Meta Platforms Inc. Class A | 1.08% | 2,950 | $1.7M | No change |
| MNST Monster Beverage Corp. | 1.06% | 28,571 | $1.7M | Add +2.1% |
| RTX RTX Corp. | 0.98% | 11,700 | $1.5M | Reduce -1.7% |
| FIVN FIVE9 Inc. | 0.97% | 56,000 | $1.5M | Add +47.4% |
| BILL Bill Holdings Inc. | 0.96% | 33,000 | $1.5M | Add +69.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.96% | 36,100 | $1.5M | Reduce -29.6% |
| JPM JPMorgan Chase & Co. | 0.91% | 5,850 | $1.4M | No change |
| GS Goldman Sachs Group Inc. | 0.88% | 2,550 | $1.4M | Reduce -30.0% |
| TTWO Take-Two Interactive Softwre | 0.87% | 6,600 | $1.4M | Reduce -64.5% |
| KO The Coca-Cola Co. | 0.86% | 19,000 | $1.4M | Reduce -38.6% |
| EXAS Exact Sciences Corp. | 0.82% | 30,000 | $1.3M | Add +25.0% |
| TOST Toast Inc. Class A | 0.82% | 39,000 | $1.3M | No change |
| DE Deere & Co. | 0.82% | 2,750 | $1.3M | Reduce -32.7% |
| TECH Bio-Techne Corp. | 0.82% | 22,000 | $1.3M | Add +8.6% |
| LLY Eli Lilly & Co. | 0.81% | 1,540 | $1.3M | No change |
| CRM Salesforce Inc. | 0.79% | 4,650 | $1.2M | Add +14.8% |
| CBRE CBRE Group Inc. Class A | 0.79% | 9,500 | $1.2M | No change |
| NKE Nike Inc. Class B | 0.79% | 19,560 | $1.2M | Add +2.6% |
| AXP American Express Co. | 0.77% | 4,500 | $1.2M | Add +15.4% |
| PFE Pfizer Inc. | 0.75% | 46,500 | $1.2M | Add +3.6% |
| ACN Accenture PLC Class A | 0.74% | 3,750 | $1.2M | Reduce -24.7% |
| HON Honeywell International Inc. | 0.70% | 5,200 | $1.1M | No change |
| KHC The Kraft Heinz Co. | 0.65% | 33,800 | $1.0M | Reduce -10.2% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.62% | 12,400 | $969K | Reduce -13.1% |
| CMG Chipotle Mexican Grill Inc. | 0.61% | 19,200 | $964K | Add +33.3% |
| CI The Cigna Group | 0.61% | 2,900 | $954K | Add +3.6% |
| PI Impinj Inc. | 0.60% | 10,500 | $952K | New |
| C Citigroup Inc. | 0.60% | 13,400 | $951K | Reduce -2.2% |
| PRCT Procept Biorobotics Corp. | 0.59% | 16,000 | $932K | New |
| MRK Merck & Co. Inc. | 0.57% | 10,000 | $898K | Add +11.1% |
| REGN Regeneron Pharmaceuticals | 0.56% | 1,400 | $888K | Reduce -0.1% |
| BEAM Beam Therapeutics Inc. | 0.56% | 45,000 | $879K | Add +7.1% |
| OXY Occidental Petroleum Corp. | 0.55% | 17,400 | $859K | Reduce -29.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.53% | 8,500 | $839K | Reduce -34.8% |
| DHR Danaher Corp. | 0.52% | 4,000 | $820K | Reduce -24.3% |
| JNJ Johnson & Johnson | 0.51% | 4,850 | $804K | Reduce -38.0% |
| SBUX Starbucks Corp. | 0.50% | 8,000 | $785K | Reduce -43.1% |
| AMGN Amgen Inc. | 0.49% | 2,500 | $779K | No change |
| CSCO Cisco Systems Inc. | 0.47% | 12,000 | $741K | Reduce -4.0% |
| CRSP Crispr Therapeutics AG | 0.45% | 21,000 | $715K | Add +10.5% |
| NFLX Netflix Inc. | 0.44% | 750 | $699K | No change |
| GPN Global Payments Inc. | 0.44% | 7,000 | $685K | Add +4.5% |
| T AT&T Inc. | 0.41% | 23,000 | $650K | Reduce -11.5% |
| STT State Street Corp. | 0.40% | 7,000 | $627K | Reduce -2.8% |
| DG Dollar General Corp. | 0.37% | 6,700 | $589K | No change |
| VRTX Vertex Pharmaceuticals Inc. | 0.37% | 1,200 | $582K | No change |
| NTLA Intellia Therapeutics Inc. | 0.37% | 81,000 | $576K | Add +30.6% |
| DECK Deckers Outdoor Corp. | 0.36% | 5,050 | $565K | Add +910.0% |
| GM General Motors Co. | 0.31% | 10,500 | $494K | Add +10.5% |
| CIEN Ciena Corp. | 0.31% | 8,000 | $483K | No change |
| INTC Intel Corp. | 0.31% | 21,200 | $481K | No change |
| ZS Zscaler Inc. | 0.30% | 2,400 | $476K | Reduce -63.1% |
| PYPL PayPal Holdings Inc. | 0.29% | 7,000 | $457K | No change |
| MDT Medtronic PLC | 0.29% | 5,000 | $449K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.28% | 1,750 | $435K | No change |
| WFC Wells Fargo & Co. | 0.21% | 4,500 | $323K | Reduce -42.6% |
| F Ford Motor Co. filed as FORD MTR CO | 0.20% | 32,000 | $321K | Add +14.3% |
| FDX FedEx Corp. | 0.19% | 1,200 | $293K | Add +33.3% |
| BMY Bristol-Myers Squibb Co. | 0.18% | 4,600 | $281K | No change |
| CVS CVS Health Corp. | 0.17% | 4,000 | $271K | No change |
| ELV Elevance Health Inc. | 0.17% | 600 | $261K | Add +5.3% |
| CTRA Coterra Energy Inc. | 0.17% | 9,000 | $260K | No change |
| B Barrick Gold Corp. | 0.16% | 13,000 | $252K | No change |
| KR Kroger Co. | 0.15% | 3,600 | $244K | No change |
| DHI D.R. Horton Inc. | 0.15% | 1,900 | $242K | Add +46.1% |
| TAP Molson Coors Beverage Co. Class B | 0.14% | 3,700 | $225K | Add +12.1% |
| VLO Valero Energy Corp. | 0.14% | 1,650 | $218K | Add +6.5% |
| LEN Lennar Corp. Class A | 0.13% | 1,800 | $207K | Add +50.0% |
| SHOP Shopify Inc. Class A | 0.13% | 2,150 | $205K | Reduce -87.4% |
| COP Conocophillips | 0.13% | 1,900 | $200K | Add +18.8% |
| ABBV Abbvie Inc. | 0.13% | 940 | $197K | No change |
| PCAR Paccar Inc. | 0.12% | 2,000 | $195K | No change |
| MELI MercadoLibre Inc. | 0.12% | 95 | $185K | No change |
| ETSY Etsy Inc. | 0.12% | 3,900 | $184K | Add +77.3% |
Portfolio Sells Q4 2024 → Q1 2025
| GOOGL Alphabet Inc. Class A | Reduce -12.7% | 4.16% | −1.17 |
| TTWO Take-Two Interactive Softwre | Reduce -64.5% | 0.87% | −1.12 |
| AAPL Apple Inc. | Reduce -26.8% | 2.45% | −1.00 |
| SHOP Shopify Inc. Class A | Reduce -87.4% | 0.13% | −0.92 |
| NVDA Nvidia Corp. | Reduce -3.4% | 3.44% | −0.59 |
| STAA Staar Surgical Co. | Reduce -91.1% | 0.04% | −0.52 |
| ZS Zscaler Inc. | Reduce -63.1% | 0.30% | −0.38 |
| BAC Bank of America Corp. | Reduce -29.6% | 0.96% | −0.35 |
| AMZN Amazon.com Inc. | Reduce -11.8% | 1.78% | −0.35 |
| GS Goldman Sachs Group Inc. | Reduce -30.0% | 0.88% | −0.32 |
| DIS The Walt Disney Co. | Reduce -34.8% | 0.53% | −0.31 |
| ACN Accenture PLC Class A | Reduce -24.7% | 0.74% | −0.27 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.25 |
| KO The Coca-Cola Co. | Reduce -38.6% | 0.86% | −0.25 |
| SBUX Starbucks Corp. | Reduce -43.1% | 0.50% | −0.25 |
| SONY Sony Group Corp. - SP ADR | Reduce -75.4% | 0.11% | −0.24 |
| DE Deere & Co. | Reduce -32.7% | 0.82% | −0.19 |
| DHR Danaher Corp. | Reduce -24.3% | 0.52% | −0.18 |
| OXY Occidental Petroleum Corp. | Reduce -29.2% | 0.55% | −0.16 |
| JNJ Johnson & Johnson | Reduce -38.0% | 0.51% | −0.15 |
| WMT Walmart Inc. | Sold out | 0.00% | −0.14 |
| WFC Wells Fargo & Co. | Reduce -42.6% | 0.21% | −0.11 |
| CF CF Industries Holdings Inc. | Reduce -13.1% | 0.62% | −0.09 |
| MA Mastercard Inc. Class A | Reduce -17.1% | 1.46% | −0.09 |
| SNAP Snap Inc. Class A | Sold out | 0.00% | −0.03 |
| KHC The Kraft Heinz Co. | Reduce -10.2% | 0.65% | −0.02 |
| REGN Regeneron Pharmaceuticals | Reduce -0.1% | 0.56% | −0.01 |
| ISRG Intuitive Surgical Inc. | Reduce -4.8% | 1.26% | −0.01 |
| CEG Constellation Energy | Reduce -25.0% | 0.04% | −0.01 |
| STT State Street Corp. | Reduce -2.8% | 0.40% | −0.01 |
| BNY Bank of New York Mellon Corp. | Reduce -10.0% | 0.10% | +0.01 |
| CELH Celsius Holdings Inc. | Reduce -11.1% | 0.09% | +0.02 |
| CSCO Cisco Systems Inc. | Reduce -4.0% | 0.47% | +0.04 |
| C Citigroup Inc. | Reduce -2.2% | 0.60% | +0.04 |
| ADI Analog Devices Inc. | Reduce -2.5% | 3.75% | +0.05 |
| MU Micron Technology Inc. | Reduce -7.7% | 1.36% | +0.06 |
| T AT&T Inc. | Reduce -11.5% | 0.41% | +0.07 |
| RTX RTX Corp. | Reduce -1.7% | 0.98% | +0.19 |
| BSX Boston Scientific Corp. | Reduce -4.0% | 1.54% | +0.24 |
Portfolio Buys Q4 2024 → Q1 2025
| MSFT Microsoft Corp. | Add +30.2% | 5.58% | +1.18 |
| NOW ServiceNow Inc. | Add +71.9% | 2.78% | +0.81 |
| AMD Advanced Micro Devices | Add +44.5% | 2.67% | +0.69 |
| PI Impinj Inc. | New | 0.60% | +0.60 |
| PRCT Procept Biorobotics Corp. | New | 0.59% | +0.59 |
| SNOW Snowflake Inc. | Add +25.7% | 2.18% | +0.51 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +15.4% | 2.02% | +0.47 |
| PANW Palo Alto Networks Inc. | Add +26.5% | 1.86% | +0.43 |
| TXN Texas Instruments Inc. | Add +30.0% | 1.48% | +0.40 |
| ENPH Enphase Energy Inc. | Add +52.6% | 1.14% | +0.39 |
| DDOG Datadog Inc. Class A | Add +58.1% | 2.14% | +0.36 |
| DECK Deckers Outdoor Corp. | Add +910.0% | 0.36% | +0.30 |
| NET Cloudflare Inc. Class A | Add +3.6% | 1.63% | +0.26 |
| HUBS HubSpot Inc. | Add +24.5% | 2.39% | +0.25 |
| AMAT Applied Materials Inc. | Add +12.7% | 2.46% | +0.22 |
| MNST Monster Beverage Corp. | Add +2.1% | 1.06% | +0.21 |
| CI The Cigna Group | Add +3.6% | 0.61% | +0.16 |
| CMG Chipotle Mexican Grill Inc. | Add +33.3% | 0.61% | +0.11 |
| AXP American Express Co. | Add +15.4% | 0.77% | +0.10 |
| FIVN FIVE9 Inc. | Add +47.4% | 0.97% | +0.07 |
| HAL Halliburton Co. | New | 0.06% | +0.06 |
| PFE Pfizer Inc. | Add +3.6% | 0.75% | +0.06 |
| MRK Merck & Co. Inc. | Add +11.1% | 0.57% | +0.05 |
| ETSY Etsy Inc. | Add +77.3% | 0.12% | +0.05 |
| DHI D.R. Horton Inc. | Add +46.1% | 0.15% | +0.05 |
| ELV Elevance Health Inc. | Add +5.3% | 0.17% | +0.04 |
| F Ford Motor Co. | Add +14.3% | 0.20% | +0.04 |
| EXAS Exact Sciences Corp. | Add +25.0% | 0.82% | +0.04 |
| FDX FedEx Corp. | Add +33.3% | 0.19% | +0.04 |
| WBTN Webtoon Entertainment Inc. | New | 0.04% | +0.04 |
| LEN Lennar Corp. Class A | Add +50.0% | 0.13% | +0.04 |
| COP Conocophillips | Add +18.8% | 0.13% | +0.03 |
| TAP Molson Coors Beverage Co. Class B | Add +12.1% | 0.14% | +0.03 |
| URI United Rentals Inc. | Add +38.1% | 0.12% | +0.03 |
| VLO Valero Energy Corp. | Add +6.5% | 0.14% | +0.03 |
| EOG EOG Resources Inc. | Add +7.7% | 0.11% | +0.02 |
| SG Sweetgreen Inc. Class A | Add +70.8% | 0.07% | +0.02 |
| GM General Motors Co. | Add +10.5% | 0.31% | +0.02 |
| CRSP Crispr Therapeutics AG | Add +10.5% | 0.45% | +0.02 |
| PINS Pinterest Inc. Class A | Add +22.2% | 0.07% | +0.02 |
| LUV Southwest Airlines Co. | Add +16.7% | 0.07% | +0.02 |
| ABNB Airbnb Inc. Class A | Add +8.7% | 0.09% | +0.01 |
| CRM Salesforce Inc. | Add +14.8% | 0.79% | +0.01 |
| ULTA Ulta Beauty Inc. | Add +14.3% | 0.09% | +0.00 |
| BILL Bill Holdings Inc. | Add +69.2% | 0.96% | +0.00 |
| GPN Global Payments Inc. | Add +4.5% | 0.44% | −0.00 |
| ELF Elf Beauty Inc. | Add +80.0% | 0.05% | −0.00 |
| LULU Lululemon Athletica Inc. | Add +10.0% | 0.10% | −0.01 |
| MCHP Microchip Technology Inc. | Add +7.2% | 1.61% | −0.02 |
| TECH Bio-Techne Corp. | Add +8.6% | 0.82% | −0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 151 | $249.0M | NVDA, MSFT, AMZN, GOOGL, AMD |
| Q1 2026 | 146 | $193.7M | MSFT, NVDA, AMZN, GOOGL, AAPL |
| Q4 2025 | 141 | $205.5M | MSFT, NVDA, GOOGL, ADI, AMZN |
| Q3 2025 | 142 | $188.7M | MSFT, NVDA, GOOGL, ADI, ADBE |
| Q2 2025 | 145 | $191.6M | MSFT, NVDA, GOOGL, ADI, AMD |
| Q1 2025 | 144 | $157.5M | MSFT, GOOGL, ADI, ADBE, NVDA |
| Q4 2024 | 143 | $172.4M | GOOGL, MSFT, NVDA, ADI, ADBE |
| Q3 2024 | 124 | $157.5M | GOOGL, MSFT, NVDA, ADBE, AAPL |
| Q2 2024 | 121 | $153.8M | GOOGL, NVDA, MSFT, ADBE, AAPL |
| Q1 2024 | 120 | $145.2M | GOOGL, MSFT, NVDA, ADI, ADBE |