Generali Investments Towarzystwo Funduszy Inwestycyjnych

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), Generali Investments Towarzystwo Funduszy Inwestycyjnych reported 141 stock positions worth $205.5 million. Its top holding was Microsoft (MSFT) at 5.8% of the portfolio, followed by Nvidia (NVDA, 5.0%) and Alphabet Class A (GOOGL, 4.3%). Compared with Q3 2025, it opened 1 new position, sold out of 3, added to 77 and reduced 27. The biggest buy was On Semiconductor (ON, shares +2671%) and the biggest sale an exit from Exact Sciences (EXAS).

Most Recent 13F
Q2 2026
Location
WARSAW, R9
CIK
0002043130
Portfolio Value
$205.5M (Q4 2025)
SEC Filing
0002043130-26-000001 ↗ filed Jan 26, 2026

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 Q2 2025 Q3 2025: $188.7M Q3 2025 Q4 2025: $205.5M $205.5M Q4 2025 Q1 2026: $193.7M Q1 2026 Q2 2026: $249.0M Q2 2026

Holdings 141 stocks · $205.5M
MSFT Microsoft Corp. 5.80% 24,650 $11.9M Add +34.0%
NVDA Nvidia Corp. 4.97% 54,800 $10.2M Add +15.4%
GOOGL Alphabet Inc. Class A 4.28% 28,100 $8.8M Reduce -13.5%
ADI Analog Devices Inc. 3.14% 23,811 $6.5M Reduce -14.4%
AMZN Amazon.com Inc. 3.11% 27,700 $6.4M Add +22.0%
ADBE Adobe Inc. 3.11% 18,266 $6.4M Add +4.3%
NOW ServiceNow Inc. 2.68% 36,000 $5.5M Add +38.5%
AAPL Apple Inc. 2.57% 19,410 $5.3M Reduce -6.8%
HUBS HubSpot Inc. 2.30% 11,800 $4.7M Add +31.1%
AMD Advanced Micro Devices 2.25% 21,600 $4.6M Reduce -33.0%
AMAT Applied Materials Inc. 2.06% 16,450 $4.2M Reduce -29.6%
TSLA Tesla Inc. 2.01% 9,200 $4.1M No change
TXN Texas Instruments Inc. 1.98% 23,500 $4.1M Add +46.9%
MCHP Microchip Technology Inc. 1.90% 61,400 $3.9M Add +35.2%
CRWD CrowdStrike Holdings Inc. Class A 1.80% 7,900 $3.7M Add +2.6%
PANW Palo Alto Networks Inc. 1.77% 19,800 $3.6M Add +12.5%
ISRG Intuitive Surgical Inc. 1.76% 6,400 $3.6M Add +10.3%
MRVL Marvell Technology Inc. 1.61% 39,000 $3.3M Reduce -24.3%
SNOW Snowflake Inc. 1.61% 15,100 $3.3M Reduce -8.5%
DDOG Datadog Inc. Class A 1.52% 23,000 $3.1M Reduce -5.7%
MDB Mongodb Inc. 1.39% 6,800 $2.9M Reduce -21.8%
MNDY Monday.com Ltd. 1.33% 18,500 $2.7M Add +42.3%
META Meta Platforms Inc. Class A 1.32% 4,110 $2.7M Add +2.0%
TOST Toast Inc. Class A 1.26% 73,000 $2.6M Add +87.2%
ON On Semiconductor 1.24% 47,100 $2.6M Add +2670.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.08% 40,500 $2.2M Add +3.9%
MU Micron Technology Inc. 1.07% 7,700 $2.2M Reduce -54.7%
BSX Boston Scientific Corp. 1.02% 22,000 $2.1M Add +120.0%
C Citigroup Inc. 0.94% 16,500 $1.9M Reduce -2.9%
PI Impinj Inc. 0.93% 11,000 $1.9M Add +10.0%
MNST Monster Beverage Corp. 0.91% 24,471 $1.9M Reduce -11.2%
RTX RTX Corp. 0.91% 10,200 $1.9M Reduce -12.8%
LLY Eli Lilly & Co. 0.88% 1,690 $1.8M Reduce -12.0%
GS Goldman Sachs Group Inc. 0.88% 2,060 $1.8M Reduce -10.4%
MRK Merck & Co. Inc. 0.87% 17,000 $1.8M Add +14.9%
JPM JPMorgan Chase & Co. 0.86% 5,500 $1.8M Reduce -1.3%
MA Mastercard Inc. Class A 0.83% 3,000 $1.7M No change
NET Cloudflare Inc. Class A 0.82% 8,500 $1.7M No change
AXP American Express Co. 0.81% 4,500 $1.7M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.80% 14,500 $1.6M Add +15.1%
NKE Nike Inc. Class B 0.80% 25,714 $1.6M Add +19.8%
TECH Bio-Techne Corp. 0.77% 27,000 $1.6M Reduce -3.6%
BILL Bill Holdings Inc. 0.77% 29,000 $1.6M No change
PRCT Procept Biorobotics Corp. 0.77% 50,000 $1.6M Add +92.3%
CBRE CBRE Group Inc. Class A 0.74% 9,500 $1.5M Add +1.1%
ACN Accenture PLC Class A 0.72% 5,550 $1.5M Add +18.1%
FIVN FIVE9 Inc. 0.72% 74,000 $1.5M No change
PFE Pfizer Inc. 0.68% 56,500 $1.4M Add +6.6%
KO The Coca-Cola Co. 0.68% 20,000 $1.4M No change
DE Deere & Co. 0.68% 3,000 $1.4M Add +1.7%
TTWO Take-Two Interactive Softwre 0.67% 5,400 $1.4M Reduce -5.3%
HON Honeywell International Inc. 0.66% 7,000 $1.4M Add +7.7%
BEAM Beam Therapeutics Inc. 0.61% 45,000 $1.2M Reduce -11.8%
CRM Salesforce Inc. 0.60% 4,650 $1.2M No change
CI The Cigna Group 0.58% 4,350 $1.2M Add +16.0%
DHR Danaher Corp. 0.56% 5,000 $1.1M No change
AVGO Broadcom Inc. 0.56% 3,300 $1.1M New
CMG Chipotle Mexican Grill Inc. 0.54% 30,100 $1.1M Add +33.8%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.53% 14,000 $1.1M Add +7.7%
REGN Regeneron Pharmaceuticals 0.53% 1,400 $1.1M No change
STT State Street Corp. 0.51% 8,200 $1.1M No change
V Visa Inc. Class A 0.48% 2,800 $982K Add +460.0%
DECK Deckers Outdoor Corp. 0.47% 9,400 $974K Add +41.4%
INTC Intel Corp. 0.47% 26,000 $959K Add +22.6%
VRTX Vertex Pharmaceuticals Inc. 0.46% 2,100 $952K No change
DG Dollar General Corp. 0.45% 7,000 $929K Add +4.5%
CSCO Cisco Systems Inc. 0.45% 12,000 $924K No change
CRSP Crispr Therapeutics AG 0.43% 17,000 $891K Reduce -5.6%
OXY Occidental Petroleum Corp. 0.43% 21,500 $884K Add +18.1%
GM General Motors Co. 0.42% 10,500 $854K No change
KHC The Kraft Heinz Co. 0.40% 33,800 $820K No change
AMGN Amgen Inc. 0.40% 2,500 $818K Reduce -7.4%
SBUX Starbucks Corp. 0.37% 9,000 $758K No change
NFLX Netflix Inc. 0.36% 7,800 $731K Add +6.8%
JNJ Johnson & Johnson 0.34% 3,400 $704K Reduce -19.1%
GPN Global Payments Inc. 0.32% 8,400 $650K Add +13.5%
PYPL PayPal Holdings Inc. 0.31% 11,000 $642K No change
T AT&T Inc. 0.27% 22,500 $559K Add +40.6%
QCOM Qualcomm Inc. 0.27% 3,200 $547K Add +128.6%
MDT Medtronic PLC 0.23% 5,000 $480K No change
WFC Wells Fargo & Co. 0.22% 4,800 $447K No change
FDX FedEx Corp. 0.21% 1,500 $433K No change
DHI D.R. Horton Inc. 0.21% 3,000 $432K Add +66.7%
F Ford Motor Co. filed as FORD MTR CO 0.20% 32,000 $420K No change
CTRA Coterra Energy Inc. 0.19% 15,000 $395K Add +20.0%
ELV Elevance Health Inc. 0.19% 1,100 $386K Add +22.2%
BMY Bristol-Myers Squibb Co. 0.18% 7,000 $378K Add +32.1%
KR Kroger Co. 0.18% 6,000 $375K Add +33.3%
VLO Valero Energy Corp. 0.18% 2,300 $374K Add +21.1%
NTLA Intellia Therapeutics Inc. 0.17% 40,000 $360K Reduce -50.0%
FISV Fiserv Inc. 0.17% 5,200 $349K Add +26.8%
EOG EOG Resources Inc. 0.17% 3,300 $347K Add +46.7%
PCAR Paccar Inc. 0.17% 3,100 $339K Add +24.0%
URI United Rentals Inc. 0.16% 400 $324K Add +60.0%
CVS CVS Health Corp. 0.15% 4,000 $317K No change
COP Conocophillips 0.15% 3,200 $300K Add +42.2%
UPS United Parcel Service Class B 0.14% 3,000 $298K Add +100.0%
MELI MercadoLibre Inc. 0.14% 145 $292K Add +20.8%
HPE Hewlett Packard Enterprise 0.14% 12,000 $288K Add +46.3%
HAL Halliburton Co. 0.14% 10,000 $283K Add +11.1%
SHOP Shopify Inc. Class A 0.13% 1,700 $274K Reduce -19.1%
MET Metlife Inc. 0.13% 3,300 $261K Add +57.1%
TAP Molson Coors Beverage Co. Class B 0.12% 5,500 $257K Add +27.9%
ETSY Etsy Inc. 0.12% 4,300 $238K Add +19.4%
CMI Cummins Inc. 0.11% 450 $230K No change
NXPI NXP Semiconductors NV 0.11% 1,000 $217K Add +233.3%
LYB Lyondellbasell Indu Class A 0.11% 5,000 $217K Add +117.4%
ABBV Abbvie Inc. 0.10% 920 $210K Reduce -9.8%
UBER Uber Technologies Inc. 0.10% 2,550 $208K Add +4.1%
LEN Lennar Corp. Class A 0.10% 2,000 $206K Add +11.1%
CELH Celsius Holdings Inc. 0.10% 4,400 $201K Add +18.9%
MTCH Match Group Inc. 0.09% 6,000 $194K Add +9.1%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.09% 1,600 $186K No change
COIN Coinbase Global Inc. Class A 0.09% 820 $185K Add +10.1%
ULTA Ulta Beauty Inc. 0.09% 300 $182K Reduce -11.8%
DASH DoorDash Inc. Class A 0.09% 800 $181K Add +45.5%
JAZZ Jazz Pharmaceuticals PLC 0.09% 1,050 $179K Reduce -16.0%
TSN Tyson Foods Inc. Class A 0.09% 3,000 $176K Add +36.4%
AIG American International Group 0.08% 2,000 $171K Add +17.6%
ABNB Airbnb Inc. Class A 0.08% 1,250 $170K No change
WY Weyerhaeuser Co. 0.08% 7,000 $166K Add +7.7%
RACE Ferrari NV 0.08% 430 $161K Add +26.5%
LULU Lululemon Athletica Inc. 0.07% 700 $145K No change
ALGN Align Technology Inc. 0.07% 925 $144K Add +32.1%
RVLV Revolve Group Inc. Class A 0.07% 4,500 $136K Add +50.0%
ELF Elf Beauty Inc. 0.06% 1,750 $133K Add +40.0%
DXCM Dexcom Inc. 0.06% 2,000 $133K Add +33.3%
GILD Gilead Sciences Inc. 0.06% 1,000 $123K No change
CHWY Chewy Inc. Class A 0.06% 3,600 $119K No change
RNG Ringcentral Inc. Class A 0.06% 4,000 $116K No change
CEG Constellation Energy 0.05% 300 $106K No change
DELL Dell Technologies -C 0.05% 800 $101K No change
FIS Fidelity National Info Serv 0.05% 1,500 $100K Add +50.0%
WBTN Webtoon Entertainment Inc. 0.05% 7,500 $98K No change
SOLS Solstice Adv Materials Inc. 0.04% 1,625 $79K No change
PINS Pinterest Inc. Class A 0.04% 2,900 $75K No change
SG Sweetgreen Inc. Class A 0.04% 10,800 $73K Add +134.8%
ZTS Zoetis Inc. 0.03% 520 $65K Add +20.9%
DUOL Duolingo 0.03% 350 $61K Add +59.1%
CAG Conagra Brands Inc. 0.01% 1,500 $26K No change
MRNA Moderna Inc. 0.01% 400 $12K No change

Portfolio Sells Q3 2025 → Q4 2025
EXAS Exact Sciences Corp. Sold out 0.00% −0.81
MRVL Marvell Technology Inc. Reduce -24.3% 1.61% −0.68
NTLA Intellia Therapeutics Inc. Reduce -50.0% 0.17% −0.56
AMD Advanced Micro Devices Reduce -33.0% 2.25% −0.51
ADI Analog Devices Inc. Reduce -14.4% 3.14% −0.48
AMAT Applied Materials Inc. Reduce -29.6% 2.06% −0.48
MU Micron Technology Inc. Reduce -54.7% 1.07% −0.44
SNOW Snowflake Inc. Reduce -8.5% 1.61% −0.36
DDOG Datadog Inc. Class A Reduce -5.7% 1.52% −0.32
CIEN Ciena Corp. Sold out 0.00% −0.31
AAPL Apple Inc. Reduce -6.8% 2.57% −0.24
CRSP Crispr Therapeutics AG Reduce -5.6% 0.43% −0.18
RTX RTX Corp. Reduce -12.8% 0.91% −0.13
TTWO Take-Two Interactive Softwre Reduce -5.3% 0.67% −0.11
WBD Warner Bros Discovery Inc. Sold out 0.00% −0.10
GS Goldman Sachs Group Inc. Reduce -10.4% 0.88% −0.09
MNST Monster Beverage Corp. Reduce -11.2% 0.91% −0.07
JNJ Johnson & Johnson Reduce -19.1% 0.34% −0.07
JPM JPMorgan Chase & Co. Reduce -1.3% 0.86% −0.07
TECH Bio-Techne Corp. Reduce -3.6% 0.77% −0.05
BEAM Beam Therapeutics Inc. Reduce -11.8% 0.61% −0.05
MDB Mongodb Inc. Reduce -21.8% 1.39% −0.04
SHOP Shopify Inc. Class A Reduce -19.1% 0.13% −0.03
ABBV Abbvie Inc. Reduce -9.8% 0.10% −0.02
ULTA Ulta Beauty Inc. Reduce -11.8% 0.09% −0.01
AMGN Amgen Inc. Reduce -7.4% 0.40% −0.01
JAZZ Jazz Pharmaceuticals PLC Reduce -16.0% 0.09% −0.00
C Citigroup Inc. Reduce -2.9% 0.94% +0.02
GOOGL Alphabet Inc. Class A Reduce -13.5% 4.28% +0.09
LLY Eli Lilly & Co. Reduce -12.0% 0.88% +0.11

Portfolio Buys Q3 2025 → Q4 2025
ON On Semiconductor Add +2670.6% 1.24% +1.20
MSFT Microsoft Corp. Add +34.0% 5.80% +0.75
AVGO Broadcom Inc. New 0.56% +0.56
TOST Toast Inc. Class A Add +87.2% 1.26% +0.51
BSX Boston Scientific Corp. Add +120.0% 1.02% +0.50
AMZN Amazon.com Inc. Add +22.0% 3.11% +0.47
TXN Texas Instruments Inc. Add +46.9% 1.98% +0.43
ISRG Intuitive Surgical Inc. Add +10.3% 1.76% +0.39
V Visa Inc. Class A Add +460.0% 0.48% +0.39
MCHP Microchip Technology Inc. Add +35.2% 1.90% +0.36
NVDA Nvidia Corp. Add +15.4% 4.97% +0.28
PRCT Procept Biorobotics Corp. Add +92.3% 0.77% +0.27
MRK Merck & Co. Inc. Add +14.9% 0.87% +0.21
NOW ServiceNow Inc. Add +38.5% 2.68% +0.15
QCOM Qualcomm Inc. Add +128.6% 0.27% +0.14
DECK Deckers Outdoor Corp. Add +41.4% 0.47% +0.12
ACN Accenture PLC Class A Add +18.1% 0.72% +0.11
INTC Intel Corp. Add +22.6% 0.47% +0.09
DG Dollar General Corp. Add +4.5% 0.45% +0.09
UPS United Parcel Service Class B Add +100.0% 0.14% +0.08
CMG Chipotle Mexican Grill Inc. Add +33.8% 0.54% +0.07
HUBS HubSpot Inc. Add +31.1% 2.30% +0.07
NXPI NXP Semiconductors NV Add +233.3% 0.11% +0.07
BMY Bristol-Myers Squibb Co. Add +32.1% 0.18% +0.06
DHI D.R. Horton Inc. Add +66.7% 0.21% +0.05
LYB Lyondellbasell Indu Class A Add +117.4% 0.11% +0.05
DIS The Walt Disney Co. Add +15.1% 0.80% +0.04
CTRA Coterra Energy Inc. Add +20.0% 0.19% +0.04
MET Metlife Inc. Add +57.1% 0.13% +0.04
EOG EOG Resources Inc. Add +46.7% 0.17% +0.03
PCAR Paccar Inc. Add +24.0% 0.17% +0.03
ELV Elevance Health Inc. Add +22.2% 0.19% +0.03
HPE Hewlett Packard Enterprise Add +46.3% 0.14% +0.03
COP Conocophillips Add +42.2% 0.15% +0.03
T AT&T Inc. Add +40.6% 0.27% +0.03
RVLV Revolve Group Inc. Class A Add +50.0% 0.07% +0.03
URI United Rentals Inc. Add +60.0% 0.16% +0.03
ALGN Align Technology Inc. Add +32.1% 0.07% +0.02
TSN Tyson Foods Inc. Class A Add +36.4% 0.09% +0.02
TAP Molson Coors Beverage Co. Class B Add +27.9% 0.12% +0.02
KR Kroger Co. Add +33.3% 0.18% +0.02
HAL Halliburton Co. Add +11.1% 0.14% +0.02
BAC Bank of America Corp. Add +3.9% 1.08% +0.02
SG Sweetgreen Inc. Class A Add +134.8% 0.04% +0.02
FIS Fidelity National Info Serv Add +50.0% 0.05% +0.01
AIG American International Group Add +17.6% 0.08% +0.01
DXCM Dexcom Inc. Add +33.3% 0.06% +0.01
VLO Valero Energy Corp. Add +21.1% 0.18% +0.01
CI The Cigna Group Add +16.0% 0.58% +0.01
DASH DoorDash Inc. Class A Add +45.5% 0.09% +0.01

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