Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed August 29, 2025), Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna reported 169 stock positions worth $253.7 million. Its top holding was Nvidia (NVDA) at 6.4% of the portfolio, followed by Marvell Technology (MRVL, 4.0%) and Advanced Micro Devices (AMD, 3.9%). Compared with Q4 2023, it opened 21 new positions, sold out of 35, added to 47 and reduced 66. The biggest buy was a new position in Arm Holdings PLC-ADR (ARM) and the biggest sale Advanced Micro Devices (AMD, shares −35%).

Most Recent 13F
Q2 2026
Location
WARSAW, R9
CIK
0002079571
Portfolio Value
$253.7M (Q1 2024)
SEC Filing
0002079571-25-000006 ↗ filed Aug 29, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $253.7M $253.7M Q1 2024 Q2 2024: $263.0M Q2 2024 Q3 2024: $259.2M Q3 2024 Q4 2024: $251.8M Q4 2024 Q1 2025: $211.9M Q1 2025 Q2 2025: $249.3M Q2 2025 Q3 2025: $249.7M Q3 2025 Q4 2025: $264.0M Q4 2025 Q1 2026: $242.1M Q1 2026 Q2 2026: $300.5M Q2 2026

Holdings 169 stocks · $253.7M
NVDA Nvidia Corp. 6.39% 18,712 $16.2M Reduce -40.0%
MRVL Marvell Technology Inc. 3.97% 148,054 $10.1M Add +5.1%
AMD Advanced Micro Devices 3.89% 57,102 $9.9M Reduce -35.2%
AMZN Amazon.com Inc. 3.72% 54,585 $9.4M Add +1.9%
MSFT Microsoft Corp. 3.54% 22,234 $9.0M Add +0.5%
NOW ServiceNow Inc. 2.67% 9,281 $6.8M Reduce -9.6%
V Visa Inc. Class A 2.56% 24,248 $6.5M Add +2.9%
CRM Salesforce Inc. 2.55% 22,376 $6.5M Add +1.1%
GOOG Alphabet Inc. Class C 2.53% 43,964 $6.4M Add +29.7%
ISRG Intuitive Surgical Inc. 2.40% 15,891 $6.1M Reduce -42.7%
DXCM Dexcom Inc. 2.29% 43,685 $5.8M Reduce -12.4%
ARM Arm Holdings PLC-ADR 2.25% 47,560 $5.7M New
MA Mastercard Inc. Class A 2.18% 11,998 $5.5M Reduce -2.1%
RMBS Rambus Inc. 1.86% 79,589 $4.7M Reduce -1.4%
MU Micron Technology Inc. 1.83% 41,125 $4.6M Reduce -13.9%
PSN Parsons Corp. 1.79% 57,163 $4.5M New
SYM Symbotic Inc. 1.77% 104,069 $4.5M New
ROAD Construction Partners Inc. Class A 1.66% 78,076 $4.2M Add +673.0%
CYBR Cyberark Software Ltd./Israel 1.64% 16,290 $4.1M Add +12.9%
CLH Clean Harbors Inc. 1.56% 20,557 $4.0M Add +255.2%
ELF Elf Beauty Inc. 1.50% 20,211 $3.8M Reduce -7.7%
QCOM Qualcomm Inc. 1.48% 23,100 $3.7M No change
MPWR Monolithic Power Systems Inc. 1.41% 5,495 $3.6M Reduce -5.3%
KO The Coca-Cola Co. 1.39% 60,327 $3.5M Add +34.0%
MLM Martin Marietta Materials 1.36% 5,870 $3.5M Add +161.6%
FLYW Flywire Corp.-Voting 1.36% 144,530 $3.4M Add +257.5%
DDOG Datadog Inc. Class A 1.29% 27,677 $3.3M Add +3.3%
CRWD CrowdStrike Holdings Inc. Class A 1.28% 10,533 $3.2M Add +50.5%
XYZ Block Inc. 1.26% 39,555 $3.2M Add +52.7%
VMC Vulcan Materials Co. 1.21% 11,721 $3.1M Add +252.9%
PWR Quanta Services Inc. 1.04% 10,632 $2.6M Add +1.5%
IRDM Iridium Communications Inc. 1.03% 104,043 $2.6M Reduce -5.4%
FSS Federal Signal Corp. 0.92% 28,828 $2.3M Add +152.9%
WCN Waste Connections Inc. 0.91% 13,946 $2.3M Reduce -17.4%
ONON On Holding AG Class A filed as ON HLDG AG 0.85% 63,900 $2.2M Add +129.0%
LSCC Lattice Semiconductor Corp. 0.84% 28,570 $2.1M No change
DECK Deckers Outdoor Corp. 0.82% 2,300 $2.1M No change
CAT Caterpillar Inc. 0.77% 5,581 $2.0M Add +109.1%
IR Ingersoll-Rand Inc. 0.77% 21,403 $1.9M Reduce -0.3%
AVAV Aerovironment Inc. 0.76% 13,100 $1.9M Add +469.6%
CDNS Cadence Design SYS Inc. 0.70% 5,911 $1.8M Reduce -6.5%
WAB Wabtec Corp. 0.69% 12,448 $1.7M Reduce -7.5%
ZS Zscaler Inc. 0.68% 9,383 $1.7M Reduce -3.9%
CELH Celsius Holdings Inc. 0.63% 20,150 $1.6M Add +111.9%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.63% 10,809 $1.6M Reduce -54.8%
MCHP Microchip Technology Inc. 0.61% 18,000 $1.5M No change
SHW The Sherwin-Williams Co. 0.60% 4,543 $1.5M Reduce -6.2%
HUBS HubSpot Inc. 0.56% 2,375 $1.4M No change
GFF Griffon Corp. 0.56% 20,250 $1.4M Reduce -19.9%
EOG EOG Resources Inc. 0.53% 10,909 $1.3M Reduce -0.8%
CP Canadian Pacific Kansas City 0.52% 15,697 $1.3M No change
ICE Intercontinental Exchange Inc. 0.52% 10,000 $1.3M Reduce -13.0%
LIN Linde PLC 0.52% 2,959 $1.3M Reduce -11.3%
MUSA Murphy USA Inc. 0.51% 3,238 $1.3M New
MPC Marathon Petroleum Corp. 0.50% 6,600 $1.3M Add +5.3%
NTRA Natera Inc. 0.48% 13,800 $1.2M Add +1.5%
LLY Eli Lilly & Co. 0.46% 1,573 $1.2M New
EXTR Extreme Networks Inc. 0.44% 100,400 $1.1M Reduce -29.7%
NVTS Navitas Semiconductor Corp. 0.43% 240,300 $1.1M Reduce -3.8%
COP Conocophillips 0.43% 8,910 $1.1M Add +3.6%
ANSS Ansys Inc. 0.43% 3,250 $1.1M No change
ADSK Autodesk Inc. 0.41% 4,118 $1.0M No change
SNPS Synopsys Inc. 0.40% 1,850 $1.0M No change
EMR Emerson Electric Co. 0.39% 9,100 $990K New
FISV Fiserv Inc. 0.39% 6,380 $978K Add +7875.0%
VEEV Veeva Systems Inc. Class A 0.38% 4,310 $957K Reduce -14.8%
ABBV Abbvie Inc. 0.37% 5,310 $927K Reduce -19.6%
PANW Palo Alto Networks Inc. 0.35% 3,270 $891K Reduce -50.2%
UNH Unitedhealth Group Inc. 0.35% 1,858 $881K Add +3.0%
PTC PTC Inc. 0.34% 4,800 $870K No change
PCOR Procore Technologies Inc. 0.34% 10,800 $851K Reduce -18.8%
UNP Union Pacific Corp. 0.33% 3,600 $849K No change
MNST Monster Beverage Corp. 0.33% 14,750 $838K New
WM Waste Management Inc. 0.33% 4,071 $832K Reduce -20.1%
B Barrick Gold Corp. 0.31% 49,200 $781K Add +12.3%
BILL Bill Holdings Inc. 0.30% 11,664 $769K Reduce -8.9%
ROK Rockwell Automation Inc. 0.29% 2,650 $740K No change
META Meta Platforms Inc. Class A 0.28% 1,534 $714K New
DVN Devon Energy Corp. 0.28% 14,760 $710K Add +1.0%
CROX Crocs Inc. 0.28% 5,108 $704K Add +135.8%
LULU Lululemon Athletica Inc. 0.26% 1,750 $656K Add +1066.7%
CSX CSX Corp. 0.26% 18,301 $651K Reduce -25.9%
AAPL Apple Inc. 0.25% 3,801 $625K Add +13.8%
SPGI S&P Global Inc. 0.24% 1,500 $612K Add +25.0%
AXONICS INC 0.24% 9,200 $608K No change
PLAY Dave & Buster's Entertainmen 0.24% 10,000 $600K Reduce -28.6%
FRPT Freshpet Inc. 0.23% 5,300 $589K Add +6.0%
ORLY O'reilly Automotive Inc. 0.21% 500 $541K New
MSCI MSCI Inc. 0.21% 1,000 $537K Add +42.9%
FCX Freeport-McMoran Inc. 0.20% 11,064 $499K Reduce -3.8%
HD Home Depot Inc. 0.19% 1,312 $483K Reduce -1.4%
JPM JPMorgan Chase & Co. 0.18% 2,367 $455K Reduce -3.7%
POOL Pool Corp. 0.17% 1,126 $436K Reduce -22.2%
FIVE Five Below 0.17% 2,500 $435K Reduce -71.8%
KNSL Kinsale Capital Group Inc. 0.15% 780 $392K Reduce -9.3%
WFC Wells Fargo & Co. 0.14% 6,551 $364K Add +7.3%
ALGN Align Technology Inc. 0.14% 1,100 $346K No change
NOG Northern Oil and Gas Inc. 0.13% 8,900 $339K Add +32.8%
FICO Fair Isaac Corp. 0.13% 280 $335K No change
TSM Taiwan Semiconductor-SP ADR 0.13% 2,500 $326K Reduce -4.4%
AGCO Agco Corp. 0.13% 2,725 $321K Reduce -32.0%
NOV Nov Inc. 0.13% 17,000 $318K Reduce -13.7%
EXAS Exact Sciences Corp. 0.12% 4,600 $305K New
CWST Casella Waste Systems Inc. Class A 0.12% 3,200 $303K Add +6.7%
NEM Newmont Corp. 0.11% 8,435 $290K Add +10.7%
TOL Toll Brothers Inc. 0.11% 2,210 $274K New
FDX FedEx Corp. 0.10% 951 $264K Reduce -3.6%
MCO Moody's Corp. 0.10% 700 $264K No change
BLMN Bloomin' Brands Inc. 0.10% 9,500 $261K Add +25.3%
SGI Somnigroup International Inc. filed as TEMPUR SEALY INTL INC 0.10% 4,700 $256K Add +6.8%
NKE Nike Inc. Class B 0.09% 2,500 $225K Reduce -61.5%
PM Philip Morris International 0.09% 2,500 $220K Reduce -37.5%
DE Deere & Co. 0.09% 551 $217K Reduce -6.6%
ANET Arista Networks Inc. 0.08% 750 $209K Reduce -18.9%
DUOL Duolingo 0.08% 940 $199K Reduce -5.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.07% 5,139 $187K Add +10.2%
MNDY Monday.com Ltd. 0.07% 845 $183K No change
VRSN Verisign Inc. 0.07% 1,000 $182K No change
M D C HLDGS INC 0.07% 3,000 $181K No change
WMT Walmart Inc. 0.07% 3,054 $176K Reduce -1.7%
AXON Axon Enterprise Inc. 0.07% 585 $176K No change
SHOP Shopify Inc. Class A 0.06% 2,202 $162K Reduce -39.1%
CAMT Camtek Ltd. 0.06% 1,800 $145K New
LNG Cheniere Energy Inc. 0.06% 925 $143K Add +13.5%
VRTX Vertex Pharmaceuticals Inc. 0.06% 355 $142K New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.06% 12,400 $142K No change
PHM Pultegroup Inc. 0.05% 1,102 $127K New
TXG 10X Genomics Inc. Class A 0.05% 3,400 $122K New
TOST Toast Inc. Class A 0.05% 5,000 $119K No change
NSC Norfolk Southern Corp. 0.04% 432 $106K Reduce -95.6%
TW Tradeweb Markets Inc. Class A 0.04% 1,000 $100K No change
INSP Inspire Medical Systems Inc. 0.04% 460 $95K No change
LH Laboratory CRP of Amer Hldgs 0.04% 450 $94K No change
BRKR Bruker Corp. 0.04% 1,000 $90K No change
TTWO Take-Two Interactive Softwre 0.04% 625 $89K New
PRMW Primo Water Corp. 0.03% 5,000 $87K No change
RGNX Regenxbio Inc. 0.03% 4,000 $81K No change
SNOW Snowflake Inc. 0.03% 512 $79K New
AMBA Ambarella Inc. 0.03% 1,623 $79K Reduce -94.3%
BMRN Biomarin Pharmaceutical Inc. 0.03% 940 $79K No change
CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP 0.02% 4,000 $62K Reduce -66.8%
SITM Sitime Corp. 0.02% 500 $45K Reduce -96.8%
AFL Aflac Inc. 0.01% 230 $19K Add +91.7%
PYPL PayPal Holdings Inc. 0.01% 292 $19K Reduce -17.8%
TDW Tidewater Inc. 0.01% 208 $18K Reduce -13.3%
RJF Raymond James Financial Inc. 0.01% 140 $17K No change
HIG Hartford Insurance Group Inc. 0.01% 170 $17K No change
ELV Elevance Health Inc. 0.01% 32 $16K Add +113.3%
BOOT Boot Barn Holdings Inc. 0.01% 170 $16K Add +79.0%
FSLR First Solar Inc. 0.01% 94 $15K Reduce -41.3%
AMGN Amgen Inc. 0.01% 55 $15K No change
NXPI NXP Semiconductors NV 0.01% 63 $15K No change
CB Chubb Ltd. 0.01% 60 $15K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.01% 125 $15K New
EXP Eagle Materials Inc. 0.01% 56 $15K Reduce -20.0%
ORCL Oracle Corp. 0.01% 118 $14K New
CI The Cigna Group 0.01% 40 $14K New
CVX Chevron Corp. 0.01% 85 $13K Reduce -90.5%
RL Ralph Lauren Corp. 0.01% 70 $13K Reduce -39.1%
LBRT Liberty Energy Inc. 0.00% 620 $12K Reduce -98.5%
DG Dollar General Corp. 0.00% 70 $10K Reduce -39.1%
MDB Mongodb Inc. 0.00% 30 $10K Reduce -93.1%
HAL Halliburton Co. 0.00% 250 $9K Add +92.3%
URI United Rentals Inc. 0.00% 13 $9K Reduce -35.0%
OC Owens Corning 0.00% 50 $8K Reduce -37.5%
ULTA Ulta Beauty Inc. 0.00% 15 $8K Reduce -96.8%
VAL Valaris Ltd. 0.00% 100 $7K Reduce -46.0%
TKR Timken Co. 0.00% 85 $7K No change
COR Cencora Inc. 0.00% 30 $7K New

Portfolio Sells Q4 2023 → Q1 2024
AMD Advanced Micro Devices Reduce -35.2% 3.89% −1.58
ISRG Intuitive Surgical Inc. Reduce -42.7% 2.40% −1.54
MBLY Mobileye Global Inc. Class A Sold out 0.00% −1.31
PODD Insulet Corp. Sold out 0.00% −1.20
IAS Integral Ad Science Holding Sold out 0.00% −1.09
NSC Norfolk Southern Corp. Reduce -95.6% 0.04% −0.94
IRDM Iridium Communications Inc. Reduce -5.4% 1.03% −0.88
EL Estee Lauder Companies Class A Reduce -54.8% 0.63% −0.84
EVRI Everi Holdings Inc. Sold out 0.00% −0.81
SITM Sitime Corp. Reduce -96.8% 0.02% −0.79
AMBA Ambarella Inc. Reduce -94.3% 0.03% −0.71
NEOG Neogen Corp. Sold out 0.00% −0.64
EXTR Extreme Networks Inc. Reduce -29.7% 0.44% −0.62
FIVE Five Below Reduce -71.8% 0.17% −0.62
TEAM Atlassian Corp. Class A Sold out 0.00% −0.50
PANW Palo Alto Networks Inc. Reduce -50.2% 0.35% −0.47
RMBS Rambus Inc. Reduce -1.4% 1.86% −0.46
SYK Stryker Corp. Sold out 0.00% −0.46
NVTS Navitas Semiconductor Corp. Reduce -3.8% 0.43% −0.42
NOW ServiceNow Inc. Reduce -9.6% 2.67% −0.38
LBRT Liberty Energy Inc. Reduce -98.5% 0.00% −0.32
DXCM Dexcom Inc. Reduce -12.4% 2.29% −0.32
SEE Sealed Air Corp. Sold out 0.00% −0.28
CERS Cerus Corp. Sold out 0.00% −0.26
ZS Zscaler Inc. Reduce -3.9% 0.68% −0.23
ETSY Etsy Inc. Sold out 0.00% −0.22
NKE Nike Inc. Class B Reduce -61.5% 0.09% −0.21
WCN Waste Connections Inc. Reduce -17.4% 0.91% −0.16
COST Costco Wholesale Corp. Sold out 0.00% −0.14
BILL Bill Holdings Inc. Reduce -8.9% 0.30% −0.14
MPWR Monolithic Power Systems Inc. Reduce -5.3% 1.41% −0.14
NVDA Nvidia Corp. Reduce -40.0% 6.39% −0.13
CSX CSX Corp. Reduce -25.9% 0.26% −0.10
ICE Intercontinental Exchange Inc. Reduce -13.0% 0.52% −0.10
ULTA Ulta Beauty Inc. Reduce -96.8% 0.00% −0.10
GFF Griffon Corp. Reduce -19.9% 0.56% −0.09
FLNC Fluence Energy Inc. Sold out 0.00% −0.09
MELI MercadoLibre Inc. Sold out 0.00% −0.08
PLAY Dave & Buster's Entertainmen Reduce -28.6% 0.24% −0.08
AGCO Agco Corp. Reduce -32.0% 0.13% −0.08
PM Philip Morris International Reduce -37.5% 0.09% −0.07
POOL Pool Corp. Reduce -22.2% 0.17% −0.07
MDB Mongodb Inc. Reduce -93.1% 0.00% −0.07
ZIP Ziprecruiter Inc. Class A Sold out 0.00% −0.07
ABBV Abbvie Inc. Reduce -19.6% 0.37% −0.07
DT Dynatrace Inc. Sold out 0.00% −0.06
LIN Linde PLC Reduce -11.3% 0.52% −0.06
WM Waste Management Inc. Reduce -20.1% 0.33% −0.06
SHOP Shopify Inc. Class A Reduce -39.1% 0.06% −0.05
PCOR Procore Technologies Inc. Reduce -18.8% 0.34% −0.05

Portfolio Buys Q4 2023 → Q1 2024
ARM Arm Holdings PLC-ADR New 2.25% +2.25
PSN Parsons Corp. New 1.79% +1.79
SYM Symbotic Inc. New 1.77% +1.77
ROAD Construction Partners Inc. Class A Add +673.0% 1.66% +1.47
CLH Clean Harbors Inc. Add +255.2% 1.56% +1.14
FLYW Flywire Corp.-Voting Add +257.5% 1.36% +0.96
VMC Vulcan Materials Co. Add +252.9% 1.21% +0.89
MLM Martin Marietta Materials Add +161.6% 1.36% +0.89
AVAV Aerovironment Inc. Add +469.6% 0.76% +0.64
FSS Federal Signal Corp. Add +152.9% 0.92% +0.56
ONON On Holding AG Class A Add +129.0% 0.85% +0.54
CRWD CrowdStrike Holdings Inc. Class A Add +50.5% 1.28% +0.52
GOOG Alphabet Inc. Class C Add +29.7% 2.53% +0.52
MUSA Murphy USA Inc. New 0.51% +0.51
LLY Eli Lilly & Co. New 0.46% +0.46
CAT Caterpillar Inc. Add +109.1% 0.77% +0.44
XYZ Block Inc. Add +52.7% 1.26% +0.42
CELH Celsius Holdings Inc. Add +111.9% 0.63% +0.41
EMR Emerson Electric Co. New 0.39% +0.39
MRVL Marvell Technology Inc. Add +5.1% 3.97% +0.39
FISV Fiserv Inc. Add +7875.0% 0.39% +0.38
MNST Monster Beverage Corp. New 0.33% +0.33
CYBR Cyberark Software Ltd./Israel Add +12.9% 1.64% +0.30
AMZN Amazon.com Inc. Add +1.9% 3.72% +0.29
META Meta Platforms Inc. Class A New 0.28% +0.28
KO The Coca-Cola Co. Add +34.0% 1.39% +0.28
LULU Lululemon Athletica Inc. Add +1066.7% 0.26% +0.23
ORLY O'reilly Automotive Inc. New 0.21% +0.21
CROX Crocs Inc. Add +135.8% 0.28% +0.19
EXAS Exact Sciences Corp. New 0.12% +0.12
NTRA Natera Inc. Add +1.5% 0.48% +0.12
MPC Marathon Petroleum Corp. Add +5.3% 0.50% +0.11
TOL Toll Brothers Inc. New 0.11% +0.11
CRM Salesforce Inc. Add +1.1% 2.55% +0.09
PWR Quanta Services Inc. Add +1.5% 1.04% +0.09
CAMT Camtek Ltd. New 0.06% +0.06
VRTX Vertex Pharmaceuticals Inc. New 0.06% +0.06
PHM Pultegroup Inc. New 0.05% +0.05
FRPT Freshpet Inc. Add +6.0% 0.23% +0.05
TXG 10X Genomics Inc. Class A New 0.05% +0.05
MSCI MSCI Inc. Add +42.9% 0.21% +0.04
TTWO Take-Two Interactive Softwre New 0.04% +0.04
SNOW Snowflake Inc. New 0.03% +0.03
NOG Northern Oil and Gas Inc. Add +32.8% 0.13% +0.03
MSFT Microsoft Corp. Add +0.5% 3.54% +0.03
SPGI S&P Global Inc. Add +25.0% 0.24% +0.02
WFC Wells Fargo & Co. Add +7.3% 0.14% +0.02
BLMN Bloomin' Brands Inc. Add +25.3% 0.10% +0.01
CWST Casella Waste Systems Inc. Class A Add +6.7% 0.12% +0.01
COP Conocophillips Add +3.6% 0.43% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 199$300.5MNVDA, MSFT, GOOG, MU, AMZN
Q1 2026 191$242.1MNVDA, MSFT, GOOG, AMZN, AMD
Q4 2025 181$264.0MNVDA, MSFT, GOOG, AMZN, AAPL
Q3 2025 190$249.7MNVDA, MSFT, AAPL, GOOG, MA
Q2 2025 200$249.3MMSFT, NVDA, AAPL, NOW, MA
Q1 2025 185$211.9MNVDA, MSFT, AMZN, AAPL, NOW
Q4 2024 180$251.8MNVDA, MSFT, AMZN, MRVL, TSLA
Q3 2024 177$259.2MNVDA, MSFT, AMD, AAPL, MRVL
Q2 2024 162$263.0MNVDA, MSFT, AMZN, AMD, MRVL
Q1 2024 169$253.7MNVDA, MRVL, AMD, AMZN, MSFT