Generali Investments Towarzystwo Funduszy Inwestycyjnych

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), Generali Investments Towarzystwo Funduszy Inwestycyjnych reported 145 stock positions worth $191.6 million. Its top holding was Microsoft (MSFT) at 5.7% of the portfolio, followed by Nvidia (NVDA, 4.6%) and Alphabet Class A (GOOGL, 4.2%). Compared with Q1 2025, it opened 4 new positions, sold out of 3, added to 65 and reduced 21. The biggest buy was Nvidia (NVDA, shares +12%) and the biggest sale Boston Scientific (BSX, shares −54%).

Most Recent 13F
Q2 2026
Location
WARSAW, R9
CIK
0002043130
Portfolio Value
$191.6M (Q2 2025)
SEC Filing
0002043130-25-000018 ↗ filed Jul 31, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $145.2M Q1 2024 Q2 2024: $153.8M Q2 2024 Q3 2024: $157.5M Q3 2024 Q4 2024: $172.4M Q4 2024 Q1 2025: $157.5M Q1 2025 Q2 2025: $191.6M $191.6M Q2 2025 Q3 2025: $188.7M Q3 2025 Q4 2025: $205.5M Q4 2025 Q1 2026: $193.7M Q1 2026 Q2 2026: $249.0M Q2 2026

Holdings 145 stocks · $191.6M
MSFT Microsoft Corp. 5.71% 22,000 $10.9M Reduce -6.0%
NVDA Nvidia Corp. 4.62% 56,000 $8.8M Add +12.0%
GOOGL Alphabet Inc. Class A 4.17% 45,300 $8.0M Add +6.8%
ADI Analog Devices Inc. 3.76% 30,311 $7.2M Add +3.4%
AMD Advanced Micro Devices 2.99% 40,432 $5.7M Reduce -1.2%
ADBE Adobe Inc. 2.95% 14,616 $5.7M Add +2.8%
AMZN Amazon.com Inc. 2.77% 24,200 $5.3M Add +64.6%
NOW ServiceNow Inc. 2.57% 4,800 $4.9M Reduce -12.7%
AMAT Applied Materials Inc. 2.55% 26,650 $4.9M No change
SNOW Snowflake Inc. 2.45% 21,000 $4.7M Reduce -10.6%
DDOG Datadog Inc. Class A 2.24% 32,000 $4.3M Reduce -5.9%
MRVL Marvell Technology Inc. 2.22% 55,000 $4.3M Add +32.5%
HUBS HubSpot Inc. 2.18% 7,500 $4.2M Add +13.6%
CRWD CrowdStrike Holdings Inc. Class A 2.10% 7,900 $4.0M Reduce -12.2%
AAPL Apple Inc. 2.06% 19,220 $3.9M Add +10.6%
PANW Palo Alto Networks Inc. 1.94% 18,200 $3.7M Add +5.8%
TSLA Tesla Inc. 1.84% 11,100 $3.5M Reduce -9.8%
MU Micron Technology Inc. 1.83% 28,400 $3.5M Add +15.4%
NET Cloudflare Inc. Class A 1.69% 16,500 $3.2M Reduce -27.6%
MCHP Microchip Technology Inc. 1.67% 45,400 $3.2M Reduce -13.4%
META Meta Platforms Inc. Class A 1.56% 4,050 $3.0M Add +37.3%
TXN Texas Instruments Inc. 1.41% 13,000 $2.7M No change
MA Mastercard Inc. Class A 1.32% 4,500 $2.5M Add +7.1%
MNDY Monday.com Ltd. 1.15% 7,000 $2.2M New
MDB Mongodb Inc. 1.10% 10,000 $2.1M Reduce -22.5%
ISRG Intuitive Surgical Inc. 1.08% 3,800 $2.1M Reduce -5.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.06% 43,000 $2.0M Add +19.1%
GS Goldman Sachs Group Inc. 0.94% 2,550 $1.8M No change
FIVN FIVE9 Inc. 0.94% 68,000 $1.8M Add +21.4%
TOST Toast Inc. Class A 0.90% 39,000 $1.7M No change
MNST Monster Beverage Corp. 0.90% 27,571 $1.7M Reduce -3.5%
RTX RTX Corp. 0.89% 11,700 $1.7M No change
JPM JPMorgan Chase & Co. 0.88% 5,850 $1.7M No change
C Citigroup Inc. 0.84% 19,000 $1.6M Add +41.8%
AXP American Express Co. 0.83% 5,000 $1.6M Add +11.1%
NKE Nike Inc. Class B 0.80% 21,660 $1.5M Add +10.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.78% 12,100 $1.5M Add +42.4%
PI Impinj Inc. 0.78% 13,500 $1.5M Add +28.6%
TTWO Take-Two Interactive Softwre 0.78% 6,150 $1.5M Reduce -6.8%
EXAS Exact Sciences Corp. 0.78% 28,000 $1.5M Reduce -6.7%
BILL Bill Holdings Inc. 0.77% 32,000 $1.5M Reduce -3.0%
TECH Bio-Techne Corp. 0.75% 28,000 $1.4M Add +27.3%
LLY Eli Lilly & Co. 0.74% 1,820 $1.4M Add +18.2%
ACN Accenture PLC Class A 0.73% 4,700 $1.4M Add +25.3%
DE Deere & Co. 0.73% 2,750 $1.4M No change
HON Honeywell International Inc. 0.73% 6,000 $1.4M Add +15.4%
KO The Coca-Cola Co. 0.70% 19,000 $1.3M No change
CBRE CBRE Group Inc. Class A 0.69% 9,500 $1.3M No change
CRM Salesforce Inc. 0.66% 4,650 $1.3M No change
PFE Pfizer Inc. 0.65% 51,000 $1.2M Add +9.7%
BSX Boston Scientific Corp. 0.62% 11,000 $1.2M Reduce -54.2%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.61% 12,700 $1.2M Add +2.4%
CMG Chipotle Mexican Grill Inc. 0.60% 20,500 $1.2M Add +6.8%
ENPH Enphase Energy Inc. 0.60% 29,000 $1.1M No change
MRK Merck & Co. Inc. 0.59% 14,200 $1.1M Add +42.0%
PRCT Procept Biorobotics Corp. 0.57% 19,000 $1.1M Add +18.8%
CRSP Crispr Therapeutics AG 0.53% 21,000 $1.0M No change
NFLX Netflix Inc. 0.51% 730 $978K Reduce -2.7%
CI The Cigna Group 0.50% 2,900 $959K No change
NTLA Intellia Therapeutics Inc. 0.49% 100,000 $938K Add +23.5%
DHR Danaher Corp. 0.46% 4,500 $889K Add +12.5%
KHC The Kraft Heinz Co. 0.46% 33,800 $873K No change
STT State Street Corp. 0.46% 8,200 $872K Add +17.1%
BEAM Beam Therapeutics Inc. 0.45% 51,000 $868K Add +13.3%
CSCO Cisco Systems Inc. 0.43% 12,000 $833K No change
SBUX Starbucks Corp. 0.43% 9,000 $825K Add +12.5%
PYPL PayPal Holdings Inc. 0.43% 11,000 $818K Add +57.1%
DG Dollar General Corp. 0.40% 6,700 $766K No change
OXY Occidental Petroleum Corp. 0.40% 18,200 $765K Add +4.6%
JNJ Johnson & Johnson 0.39% 4,850 $741K No change
REGN Regeneron Pharmaceuticals 0.38% 1,400 $735K No change
FISV Fiserv Inc. 0.37% 4,100 $707K Add +720.0%
AMGN Amgen Inc. 0.36% 2,500 $698K No change
DECK Deckers Outdoor Corp. 0.36% 6,650 $685K Add +31.7%
CIEN Ciena Corp. 0.34% 8,000 $651K No change
GPN Global Payments Inc. 0.30% 7,200 $576K Add +2.9%
VRTX Vertex Pharmaceuticals Inc. 0.28% 1,200 $534K No change
GM General Motors Co. 0.27% 10,500 $517K No change
T AT&T Inc. 0.26% 17,000 $492K Reduce -26.1%
INTC Intel Corp. 0.25% 21,200 $475K No change
MDT Medtronic PLC 0.23% 5,000 $436K No change
WFC Wells Fargo & Co. 0.20% 4,800 $385K Add +6.7%
F Ford Motor Co. filed as FORD MTR CO 0.18% 32,000 $347K No change
SHOP Shopify Inc. Class A 0.17% 2,800 $323K Add +30.2%
FDX FedEx Corp. 0.15% 1,300 $296K Add +8.3%
COIN Coinbase Global Inc. Class A 0.15% 800 $280K Add +29.0%
CVS CVS Health Corp. 0.14% 4,000 $276K No change
ELV Elevance Health Inc. 0.14% 700 $272K Add +16.7%
KR Kroger Co. 0.13% 3,600 $258K No change
DHI D.R. Horton Inc. 0.13% 2,000 $258K Add +5.3%
CTRA Coterra Energy Inc. 0.13% 10,000 $254K Add +11.1%
MELI MercadoLibre Inc. 0.13% 95 $248K No change
VLO Valero Energy Corp. 0.13% 1,800 $242K Add +9.1%
UBER Uber Technologies Inc. 0.12% 2,550 $238K Add +8.5%
URI United Rentals Inc. 0.11% 290 $218K No change
WBD Warner Bros Discovery Inc. 0.11% 19,000 $218K Add +11.8%
BMY Bristol-Myers Squibb Co. 0.11% 4,600 $213K No change
PCAR Paccar Inc. 0.11% 2,200 $209K Add +10.0%
TAP Molson Coors Beverage Co. Class B 0.11% 4,300 $207K Add +16.2%
LEN Lennar Corp. Class A 0.10% 1,800 $199K No change
DASH DoorDash Inc. Class A 0.10% 800 $197K No change
ETSY Etsy Inc. 0.10% 3,900 $196K No change
MTCH Match Group Inc. 0.10% 6,250 $193K Add +8.7%
ABBV Abbvie Inc. 0.10% 1,020 $189K Add +8.5%
CELH Celsius Holdings Inc. 0.10% 4,000 $186K No change
EOG EOG Resources Inc. 0.09% 1,500 $179K Add +7.1%
ULTA Ulta Beauty Inc. 0.09% 370 $173K Reduce -7.5%
COP Conocophillips 0.09% 1,900 $171K No change
MET Metlife Inc. 0.09% 2,100 $169K Add +10.5%
ELF Elf Beauty Inc. 0.09% 1,350 $168K No change
HPE Hewlett Packard Enterprise 0.09% 8,200 $168K No change
ABNB Airbnb Inc. Class A 0.09% 1,250 $165K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.09% 1,800 $164K No change
QCOM Qualcomm Inc. 0.08% 1,000 $159K New
RACE Ferrari NV 0.08% 310 $151K No change
CMI Cummins Inc. 0.08% 450 $147K Add +12.5%
AIG American International Group 0.08% 1,700 $146K No change
CHWY Chewy Inc. Class A 0.08% 3,400 $145K Reduce -8.1%
GILD Gilead Sciences Inc. 0.08% 1,300 $144K No change
LULU Lululemon Athletica Inc. 0.07% 600 $143K Add +9.1%
JAZZ Jazz Pharmaceuticals PLC 0.07% 1,250 $133K Add +8.7%
ALGN Align Technology Inc. 0.07% 700 $133K Add +11.1%
DXCM Dexcom Inc. 0.07% 1,500 $131K Add +36.4%
WY Weyerhaeuser Co. 0.07% 5,000 $128K Add +11.1%
PINS Pinterest Inc. Class A 0.06% 3,300 $118K No change
LUV Southwest Airlines Co. 0.06% 3,500 $114K No change
RNG Ringcentral Inc. Class A 0.06% 4,000 $113K No change
TSN Tyson Foods Inc. Class A 0.06% 2,000 $112K Add +25.0%
HAL Halliburton Co. 0.05% 5,000 $102K Add +35.1%
LYB Lyondellbasell Indu Class A 0.05% 1,700 $98K Add +41.7%
DELL Dell Technologies -C 0.05% 800 $98K No change
CEG Constellation Energy 0.05% 300 $97K No change
ZTS Zoetis Inc. 0.05% 600 $94K No change
ON On Semiconductor 0.05% 1,700 $89K Add +112.5%
FIS Fidelity National Info Serv 0.04% 1,000 $81K No change
DUOL Duolingo 0.04% 180 $74K No change
UPS United Parcel Service Class B 0.04% 700 $71K New
SG Sweetgreen Inc. Class A 0.04% 4,600 $68K Add +12.2%
WBTN Webtoon Entertainment Inc. 0.04% 7,500 $68K No change
NXPI NXP Semiconductors NV 0.03% 300 $66K No change
CAG Conagra Brands Inc. 0.03% 3,100 $63K No change
RVLV Revolve Group Inc. Class A 0.03% 3,000 $60K New
STAA Staar Surgical Co. 0.03% 3,500 $59K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.02% 150 $44K Reduce -91.4%
MRNA Moderna Inc. 0.01% 400 $11K No change

Portfolio Sells Q1 2025 → Q2 2025
BSX Boston Scientific Corp. Reduce -54.2% 0.62% −0.92
MDB Mongodb Inc. Reduce -22.5% 1.10% −0.34
ZS Zscaler Inc. Sold out 0.00% −0.30
IBM Intl Business Machines Corp. Reduce -91.4% 0.02% −0.25
NOW ServiceNow Inc. Reduce -12.7% 2.57% −0.21
BILL Bill Holdings Inc. Reduce -3.0% 0.77% −0.19
TSLA Tesla Inc. Reduce -9.8% 1.84% −0.18
ISRG Intuitive Surgical Inc. Reduce -5.0% 1.08% −0.18
MNST Monster Beverage Corp. Reduce -3.5% 0.90% −0.16
B Barrick Gold Corp. Sold out 0.00% −0.16
T AT&T Inc. Reduce -26.1% 0.26% −0.16
SONY Sony Group Corp. - SP ADR Sold out 0.00% −0.11
TTWO Take-Two Interactive Softwre Reduce -6.8% 0.78% −0.09
EXAS Exact Sciences Corp. Reduce -6.7% 0.78% −0.05
ULTA Ulta Beauty Inc. Reduce -7.5% 0.09% −0.00
CHWY Chewy Inc. Class A Reduce -8.1% 0.08% −0.00
NET Cloudflare Inc. Class A Reduce -27.6% 1.69% +0.05
MCHP Microchip Technology Inc. Reduce -13.4% 1.67% +0.06
NFLX Netflix Inc. Reduce -2.7% 0.51% +0.07
CRWD CrowdStrike Holdings Inc. Class A Reduce -12.2% 2.10% +0.08
DDOG Datadog Inc. Class A Reduce -5.9% 2.24% +0.10
MSFT Microsoft Corp. Reduce -6.0% 5.71% +0.13
SNOW Snowflake Inc. Reduce -10.6% 2.45% +0.27
AMD Advanced Micro Devices Reduce -1.2% 2.99% +0.32

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. Add +12.0% 4.62% +1.18
MNDY Monday.com Ltd. New 1.15% +1.15
AMZN Amazon.com Inc. Add +64.6% 2.77% +0.99
MRVL Marvell Technology Inc. Add +32.5% 2.22% +0.60
META Meta Platforms Inc. Class A Add +37.3% 1.56% +0.48
MU Micron Technology Inc. Add +15.4% 1.83% +0.47
FISV Fiserv Inc. Add +720.0% 0.37% +0.30
DIS The Walt Disney Co. Add +42.4% 0.78% +0.25
C Citigroup Inc. Add +41.8% 0.84% +0.24
PI Impinj Inc. Add +28.6% 0.78% +0.18
PYPL PayPal Holdings Inc. Add +57.1% 0.43% +0.14
NTLA Intellia Therapeutics Inc. Add +23.5% 0.49% +0.12
BAC Bank of America Corp. Add +19.1% 1.06% +0.10
QCOM Qualcomm Inc. New 0.08% +0.08
PANW Palo Alto Networks Inc. Add +5.8% 1.94% +0.08
COIN Coinbase Global Inc. Class A Add +29.0% 0.15% +0.08
AXP American Express Co. Add +11.1% 0.83% +0.06
STT State Street Corp. Add +17.1% 0.46% +0.06
SHOP Shopify Inc. Class A Add +30.2% 0.17% +0.04
UPS United Parcel Service Class B New 0.04% +0.04
RVLV Revolve Group Inc. Class A New 0.03% +0.03
HON Honeywell International Inc. Add +15.4% 0.73% +0.03
ON On Semiconductor Add +112.5% 0.05% +0.03
DXCM Dexcom Inc. Add +36.4% 0.07% +0.02
MRK Merck & Co. Inc. Add +42.0% 0.59% +0.02
UBER Uber Technologies Inc. Add +8.5% 0.12% +0.02
NKE Nike Inc. Class B Add +10.7% 0.80% +0.01
ADI Analog Devices Inc. Add +3.4% 3.76% +0.01
ALGN Align Technology Inc. Add +11.1% 0.07% +0.01
GOOGL Alphabet Inc. Class A Add +6.8% 4.17% +0.00
DECK Deckers Outdoor Corp. Add +31.7% 0.36% −0.00
WBD Warner Bros Discovery Inc. Add +11.8% 0.11% −0.00
LYB Lyondellbasell Indu Class A Add +41.7% 0.05% −0.00
CMI Cummins Inc. Add +12.5% 0.08% −0.00
WFC Wells Fargo & Co. Add +6.7% 0.20% −0.00
CF CF Industries Holdings Inc. Add +2.4% 0.61% −0.01
HAL Halliburton Co. Add +35.1% 0.05% −0.01
TSN Tyson Foods Inc. Class A Add +25.0% 0.06% −0.01
MET Metlife Inc. Add +10.5% 0.09% −0.01
ACN Accenture PLC Class A Add +25.3% 0.73% −0.01
CMG Chipotle Mexican Grill Inc. Add +6.8% 0.60% −0.01
VLO Valero Energy Corp. Add +9.1% 0.13% −0.01
MTCH Match Group Inc. Add +8.7% 0.10% −0.01
PCAR Paccar Inc. Add +10.0% 0.11% −0.01
WY Weyerhaeuser Co. Add +11.1% 0.07% −0.02
DHI D.R. Horton Inc. Add +5.3% 0.13% −0.02
EOG EOG Resources Inc. Add +7.1% 0.09% −0.02
PRCT Procept Biorobotics Corp. Add +18.8% 0.57% −0.02
JAZZ Jazz Pharmaceuticals PLC Add +8.7% 0.07% −0.02
ELV Elevance Health Inc. Add +16.7% 0.14% −0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 151$249.0MNVDA, MSFT, AMZN, GOOGL, AMD
Q1 2026 146$193.7MMSFT, NVDA, AMZN, GOOGL, AAPL
Q4 2025 141$205.5MMSFT, NVDA, GOOGL, ADI, AMZN
Q3 2025 142$188.7MMSFT, NVDA, GOOGL, ADI, ADBE
Q2 2025 145$191.6MMSFT, NVDA, GOOGL, ADI, AMD
Q1 2025 144$157.5MMSFT, GOOGL, ADI, ADBE, NVDA
Q4 2024 143$172.4MGOOGL, MSFT, NVDA, ADI, ADBE
Q3 2024 124$157.5MGOOGL, MSFT, NVDA, ADBE, AAPL
Q2 2024 121$153.8MGOOGL, NVDA, MSFT, ADBE, AAPL
Q1 2024 120$145.2MGOOGL, MSFT, NVDA, ADI, ADBE