Generali Investments Towarzystwo Funduszy Inwestycyjnych
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 3, 2025), Generali Investments Towarzystwo Funduszy Inwestycyjnych reported 142 stock positions worth $188.7 million. Its top holding was Microsoft (MSFT) at 5.1% of the portfolio, followed by Nvidia (NVDA, 4.7%) and Alphabet Class A (GOOGL, 4.2%). Compared with Q2 2025, it opened 1 new position, sold out of 4, added to 43 and reduced 51. The biggest buy was Apple (AAPL, shares +8%) and the biggest sale Cloudflare Class A (NET, shares −48%).
- Most Recent 13F
- Q2 2026
- Location
- WARSAW, R9
- CIK
- 0002043130
- Portfolio Value
- $188.7M (Q3 2025)
- SEC Filing
- 0002043130-25-000021 ↗ filed Nov 3, 2025
Holdings Value
Holdings 142 stocks · $188.7M
| MSFT Microsoft Corp. | 5.05% | 18,400 | $9.5M | Reduce -16.4% |
| NVDA Nvidia Corp. | 4.70% | 47,500 | $8.9M | Reduce -15.2% |
| GOOGL Alphabet Inc. Class A | 4.19% | 32,500 | $7.9M | Reduce -28.3% |
| ADI Analog Devices Inc. | 3.62% | 27,811 | $6.8M | Reduce -8.3% |
| ADBE Adobe Inc. | 3.27% | 17,516 | $6.2M | Add +19.8% |
| AAPL Apple Inc. | 2.81% | 20,820 | $5.3M | Add +8.3% |
| AMD Advanced Micro Devices | 2.76% | 32,232 | $5.2M | Reduce -20.3% |
| AMZN Amazon.com Inc. | 2.64% | 22,700 | $5.0M | Reduce -6.2% |
| NOW ServiceNow Inc. | 2.54% | 5,200 | $4.8M | Add +8.3% |
| AMAT Applied Materials Inc. | 2.53% | 23,350 | $4.8M | Reduce -12.4% |
| MRVL Marvell Technology Inc. | 2.29% | 51,500 | $4.3M | Reduce -6.4% |
| HUBS HubSpot Inc. | 2.23% | 9,000 | $4.2M | Add +20.0% |
| TSLA Tesla Inc. | 2.17% | 9,200 | $4.1M | Reduce -17.1% |
| CRWD CrowdStrike Holdings Inc. Class A | 2.00% | 7,700 | $3.8M | Reduce -2.5% |
| SNOW Snowflake Inc. | 1.97% | 16,500 | $3.7M | Reduce -21.4% |
| PANW Palo Alto Networks Inc. | 1.90% | 17,600 | $3.6M | Reduce -3.3% |
| DDOG Datadog Inc. Class A | 1.84% | 24,400 | $3.5M | Reduce -23.8% |
| META Meta Platforms Inc. Class A | 1.57% | 4,030 | $3.0M | Reduce -0.5% |
| TXN Texas Instruments Inc. | 1.56% | 16,000 | $2.9M | Add +23.1% |
| MCHP Microchip Technology Inc. | 1.55% | 45,400 | $2.9M | No change |
| MU Micron Technology Inc. | 1.51% | 17,000 | $2.8M | Reduce -40.1% |
| MDB Mongodb Inc. | 1.43% | 8,700 | $2.7M | Reduce -13.0% |
| ISRG Intuitive Surgical Inc. | 1.37% | 5,800 | $2.6M | Add +52.6% |
| MNDY Monday.com Ltd. | 1.33% | 13,000 | $2.5M | Add +85.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.07% | 39,000 | $2.0M | Reduce -9.3% |
| RTX RTX Corp. | 1.04% | 11,700 | $2.0M | No change |
| MNST Monster Beverage Corp. | 0.98% | 27,571 | $1.9M | No change |
| GS Goldman Sachs Group Inc. | 0.97% | 2,300 | $1.8M | Reduce -9.8% |
| NET Cloudflare Inc. Class A | 0.97% | 8,500 | $1.8M | Reduce -48.5% |
| PI Impinj Inc. | 0.96% | 10,000 | $1.8M | Reduce -25.9% |
| FIVN FIVE9 Inc. | 0.95% | 74,000 | $1.8M | Add +8.8% |
| JPM JPMorgan Chase & Co. | 0.93% | 5,570 | $1.8M | Reduce -4.8% |
| C Citigroup Inc. | 0.91% | 17,000 | $1.7M | Reduce -10.5% |
| MA Mastercard Inc. Class A | 0.90% | 3,000 | $1.7M | Reduce -33.3% |
| TECH Bio-Techne Corp. | 0.83% | 28,000 | $1.6M | No change |
| BILL Bill Holdings Inc. | 0.81% | 29,000 | $1.5M | Reduce -9.4% |
| EXAS Exact Sciences Corp. | 0.81% | 28,000 | $1.5M | No change |
| NKE Nike Inc. Class B | 0.79% | 21,460 | $1.5M | Reduce -0.9% |
| AXP American Express Co. | 0.79% | 4,500 | $1.5M | Reduce -10.0% |
| CBRE CBRE Group Inc. Class A | 0.79% | 9,400 | $1.5M | Reduce -1.1% |
| TTWO Take-Two Interactive Softwre | 0.78% | 5,700 | $1.5M | Reduce -7.3% |
| LLY Eli Lilly & Co. | 0.78% | 1,920 | $1.5M | Add +5.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.76% | 12,600 | $1.4M | Add +4.1% |
| TOST Toast Inc. Class A | 0.75% | 39,000 | $1.4M | No change |
| NTLA Intellia Therapeutics Inc. | 0.73% | 80,000 | $1.4M | Reduce -20.0% |
| HON Honeywell International Inc. | 0.73% | 6,500 | $1.4M | Add +8.3% |
| PFE Pfizer Inc. | 0.72% | 53,000 | $1.4M | Add +3.9% |
| DE Deere & Co. | 0.71% | 2,950 | $1.3M | Add +7.3% |
| KO The Coca-Cola Co. | 0.70% | 20,000 | $1.3M | Add +5.3% |
| MRK Merck & Co. Inc. | 0.66% | 14,800 | $1.2M | Add +4.2% |
| BEAM Beam Therapeutics Inc. | 0.66% | 51,000 | $1.2M | No change |
| CRSP Crispr Therapeutics AG | 0.62% | 18,000 | $1.2M | Reduce -14.3% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.62% | 13,000 | $1.2M | Add +2.4% |
| ACN Accenture PLC Class A | 0.61% | 4,700 | $1.2M | No change |
| CRM Salesforce Inc. | 0.58% | 4,650 | $1.1M | No change |
| CI The Cigna Group | 0.57% | 3,750 | $1.1M | Add +29.3% |
| DHR Danaher Corp. | 0.53% | 5,000 | $991K | Add +11.1% |
| BSX Boston Scientific Corp. | 0.52% | 10,000 | $976K | Reduce -9.1% |
| STT State Street Corp. | 0.50% | 8,200 | $951K | No change |
| PRCT Procept Biorobotics Corp. | 0.49% | 26,000 | $928K | Add +36.8% |
| CMG Chipotle Mexican Grill Inc. | 0.47% | 22,500 | $882K | Add +9.8% |
| KHC The Kraft Heinz Co. | 0.47% | 33,800 | $880K | No change |
| NFLX Netflix Inc. | 0.46% | 730 | $875K | No change |
| OXY Occidental Petroleum Corp. | 0.46% | 18,200 | $860K | No change |
| VRTX Vertex Pharmaceuticals Inc. | 0.44% | 2,100 | $822K | Add +75.0% |
| CSCO Cisco Systems Inc. | 0.44% | 12,000 | $821K | No change |
| REGN Regeneron Pharmaceuticals | 0.42% | 1,400 | $787K | No change |
| JNJ Johnson & Johnson | 0.41% | 4,200 | $779K | Reduce -13.4% |
| AMGN Amgen Inc. | 0.40% | 2,700 | $762K | Add +8.0% |
| SBUX Starbucks Corp. | 0.40% | 9,000 | $761K | No change |
| PYPL PayPal Holdings Inc. | 0.39% | 11,000 | $738K | No change |
| INTC Intel Corp. | 0.38% | 21,200 | $711K | No change |
| DG Dollar General Corp. | 0.37% | 6,700 | $692K | No change |
| DECK Deckers Outdoor Corp. | 0.36% | 6,650 | $674K | No change |
| GM General Motors Co. | 0.34% | 10,500 | $640K | No change |
| GPN Global Payments Inc. | 0.33% | 7,400 | $615K | Add +2.8% |
| CIEN Ciena Corp. | 0.31% | 4,000 | $583K | Reduce -50.0% |
| FISV Fiserv Inc. | 0.28% | 4,100 | $529K | No change |
| MDT Medtronic PLC | 0.25% | 5,000 | $476K | No change |
| T AT&T Inc. | 0.24% | 16,000 | $452K | Reduce -5.9% |
| WFC Wells Fargo & Co. | 0.21% | 4,800 | $402K | No change |
| F Ford Motor Co. filed as FORD MTR CO | 0.20% | 32,000 | $383K | No change |
| FDX FedEx Corp. | 0.19% | 1,500 | $354K | Add +15.4% |
| VLO Valero Energy Corp. | 0.17% | 1,900 | $323K | Add +5.6% |
| SHOP Shopify Inc. Class A | 0.17% | 2,100 | $312K | Reduce -25.0% |
| DHI D.R. Horton Inc. | 0.16% | 1,800 | $305K | Reduce -10.0% |
| KR Kroger Co. | 0.16% | 4,500 | $303K | Add +25.0% |
| CVS CVS Health Corp. | 0.16% | 4,000 | $302K | No change |
| CTRA Coterra Energy Inc. | 0.16% | 12,500 | $296K | Add +25.0% |
| ELV Elevance Health Inc. | 0.15% | 900 | $291K | Add +28.6% |
| MELI MercadoLibre Inc. | 0.15% | 120 | $280K | Add +26.3% |
| EOG EOG Resources Inc. | 0.13% | 2,250 | $252K | Add +50.0% |
| COIN Coinbase Global Inc. Class A | 0.13% | 745 | $251K | Reduce -6.9% |
| PCAR Paccar Inc. | 0.13% | 2,500 | $246K | Add +13.6% |
| UBER Uber Technologies Inc. | 0.13% | 2,450 | $240K | Reduce -3.9% |
| BMY Bristol-Myers Squibb Co. | 0.13% | 5,300 | $239K | Add +15.2% |
| ETSY Etsy Inc. | 0.13% | 3,600 | $239K | Reduce -7.7% |
| URI United Rentals Inc. | 0.13% | 250 | $239K | Reduce -13.8% |
| ABBV Abbvie Inc. | 0.13% | 1,020 | $236K | No change |
| QCOM Qualcomm Inc. | 0.12% | 1,400 | $233K | Add +40.0% |
Portfolio Sells Q2 2025 → Q3 2025
| NET Cloudflare Inc. Class A | Reduce -48.5% | 0.97% | −0.72 |
| MSFT Microsoft Corp. | Reduce -16.4% | 5.05% | −0.66 |
| ENPH Enphase Energy Inc. | Sold out | 0.00% | −0.60 |
| SNOW Snowflake Inc. | Reduce -21.4% | 1.97% | −0.48 |
| MA Mastercard Inc. Class A | Reduce -33.3% | 0.90% | −0.41 |
| DDOG Datadog Inc. Class A | Reduce -23.8% | 1.84% | −0.40 |
| MU Micron Technology Inc. | Reduce -40.1% | 1.51% | −0.32 |
| AMD Advanced Micro Devices | Reduce -20.3% | 2.76% | −0.23 |
| ADI Analog Devices Inc. | Reduce -8.3% | 3.62% | −0.14 |
| AMZN Amazon.com Inc. | Reduce -6.2% | 2.64% | −0.13 |
| BSX Boston Scientific Corp. | Reduce -9.1% | 0.52% | −0.10 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -2.5% | 2.00% | −0.10 |
| LUV Southwest Airlines Co. | Sold out | 0.00% | −0.06 |
| PANW Palo Alto Networks Inc. | Reduce -3.3% | 1.90% | −0.04 |
| AXP American Express Co. | Reduce -10.0% | 0.79% | −0.04 |
| CIEN Ciena Corp. | Reduce -50.0% | 0.31% | −0.03 |
| STAA Staar Surgical Co. | Sold out | 0.00% | −0.03 |
| DASH DoorDash Inc. Class A | Reduce -31.3% | 0.08% | −0.02 |
| IBM Intl Business Machines Corp. | Sold out | 0.00% | −0.02 |
| CAG Conagra Brands Inc. | Reduce -51.6% | 0.01% | −0.02 |
| T AT&T Inc. | Reduce -5.9% | 0.24% | −0.02 |
| GILD Gilead Sciences Inc. | Reduce -23.1% | 0.06% | −0.02 |
| ZTS Zoetis Inc. | Reduce -28.3% | 0.03% | −0.02 |
| COIN Coinbase Global Inc. Class A | Reduce -6.9% | 0.13% | −0.01 |
| PINS Pinterest Inc. Class A | Reduce -12.1% | 0.05% | −0.01 |
| AMAT Applied Materials Inc. | Reduce -12.4% | 2.53% | −0.01 |
| WBD Warner Bros Discovery Inc. | Reduce -47.4% | 0.10% | −0.01 |
| NKE Nike Inc. Class B | Reduce -0.9% | 0.79% | −0.01 |
| SHOP Shopify Inc. Class A | Reduce -25.0% | 0.17% | −0.00 |
| ELF Elf Beauty Inc. | Reduce -7.4% | 0.09% | +0.00 |
| TTWO Take-Two Interactive Softwre | Reduce -7.3% | 0.78% | +0.00 |
| MTCH Match Group Inc. | Reduce -12.0% | 0.10% | +0.00 |
| UBER Uber Technologies Inc. | Reduce -3.9% | 0.13% | +0.00 |
| BAC Bank of America Corp. | Reduce -9.3% | 1.07% | +0.00 |
| BNY Bank of New York Mellon Corp. | Reduce -11.1% | 0.09% | +0.01 |
| ULTA Ulta Beauty Inc. | Reduce -8.1% | 0.10% | +0.01 |
| META Meta Platforms Inc. Class A | Reduce -0.5% | 1.57% | +0.01 |
| URI United Rentals Inc. | Reduce -13.8% | 0.13% | +0.01 |
| CELH Celsius Holdings Inc. | Reduce -7.5% | 0.11% | +0.02 |
| GOOGL Alphabet Inc. Class A | Reduce -28.3% | 4.19% | +0.02 |
| ETSY Etsy Inc. | Reduce -7.7% | 0.13% | +0.02 |
| JNJ Johnson & Johnson | Reduce -13.4% | 0.41% | +0.03 |
| DHI D.R. Horton Inc. | Reduce -10.0% | 0.16% | +0.03 |
| GS Goldman Sachs Group Inc. | Reduce -9.8% | 0.97% | +0.03 |
| BILL Bill Holdings Inc. | Reduce -9.4% | 0.81% | +0.04 |
| JPM JPMorgan Chase & Co. | Reduce -4.8% | 0.93% | +0.05 |
| C Citigroup Inc. | Reduce -10.5% | 0.91% | +0.07 |
| MRVL Marvell Technology Inc. | Reduce -6.4% | 2.29% | +0.07 |
| NVDA Nvidia Corp. | Reduce -15.2% | 4.70% | +0.08 |
| CRSP Crispr Therapeutics AG | Reduce -14.3% | 0.62% | +0.09 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +8.3% | 2.81% | +0.75 |
| ADBE Adobe Inc. | Add +19.8% | 3.27% | +0.32 |
| ISRG Intuitive Surgical Inc. | Add +52.6% | 1.37% | +0.30 |
| MNDY Monday.com Ltd. | Add +85.7% | 1.33% | +0.19 |
| VRTX Vertex Pharmaceuticals Inc. | Add +75.0% | 0.44% | +0.16 |
| TXN Texas Instruments Inc. | Add +23.1% | 1.56% | +0.15 |
| V Visa Inc. Class A | New | 0.09% | +0.09 |
| CI The Cigna Group | Add +29.3% | 0.57% | +0.07 |
| MRK Merck & Co. Inc. | Add +4.2% | 0.66% | +0.07 |
| PFE Pfizer Inc. | Add +3.9% | 0.72% | +0.07 |
| HAL Halliburton Co. | Add +80.0% | 0.12% | +0.06 |
| DHR Danaher Corp. | Add +11.1% | 0.53% | +0.06 |
| HUBS HubSpot Inc. | Add +20.0% | 2.23% | +0.05 |
| VLO Valero Energy Corp. | Add +5.6% | 0.17% | +0.05 |
| QCOM Qualcomm Inc. | Add +40.0% | 0.12% | +0.04 |
| EOG EOG Resources Inc. | Add +50.0% | 0.13% | +0.04 |
| AMGN Amgen Inc. | Add +8.0% | 0.40% | +0.04 |
| LLY Eli Lilly & Co. | Add +5.5% | 0.78% | +0.04 |
| FDX FedEx Corp. | Add +15.4% | 0.19% | +0.03 |
| UPS United Parcel Service Class B | Add +114.3% | 0.07% | +0.03 |
| KR Kroger Co. | Add +25.0% | 0.16% | +0.03 |
| GPN Global Payments Inc. | Add +2.8% | 0.33% | +0.03 |
| CTRA Coterra Energy Inc. | Add +25.0% | 0.16% | +0.02 |
| COP Conocophillips | Add +18.4% | 0.11% | +0.02 |
| PCAR Paccar Inc. | Add +13.6% | 0.13% | +0.02 |
| MELI MercadoLibre Inc. | Add +26.3% | 0.15% | +0.02 |
| WY Weyerhaeuser Co. | Add +30.0% | 0.09% | +0.02 |
| BMY Bristol-Myers Squibb Co. | Add +15.2% | 0.13% | +0.02 |
| ELV Elevance Health Inc. | Add +28.6% | 0.15% | +0.01 |
| FIVN FIVE9 Inc. | Add +8.8% | 0.95% | +0.01 |
| LYB Lyondellbasell Indu Class A | Add +35.3% | 0.06% | +0.01 |
| CF CF Industries Holdings Inc. | Add +2.4% | 0.62% | +0.01 |
| RACE Ferrari NV | Add +9.7% | 0.09% | +0.01 |
| TSN Tyson Foods Inc. Class A | Add +10.0% | 0.06% | +0.00 |
| CHWY Chewy Inc. Class A | Add +5.9% | 0.08% | +0.00 |
| KO The Coca-Cola Co. | Add +5.3% | 0.70% | +0.00 |
| DUOL Duolingo | Add +22.2% | 0.04% | −0.00 |
| HON Honeywell International Inc. | Add +8.3% | 0.73% | −0.00 |
| LULU Lululemon Athletica Inc. | Add +16.7% | 0.07% | −0.01 |
| DE Deere & Co. | Add +7.3% | 0.71% | −0.01 |
| DIS The Walt Disney Co. | Add +4.1% | 0.76% | −0.02 |
| NOW ServiceNow Inc. | Add +8.3% | 2.54% | −0.04 |
| PRCT Procept Biorobotics Corp. | Add +36.8% | 0.49% | −0.08 |
| CMG Chipotle Mexican Grill Inc. | Add +9.8% | 0.47% | −0.13 |
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 |