Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 29, 2025), Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna reported 162 stock positions worth $263.0 million. Its top holding was Nvidia (NVDA) at 6.6% of the portfolio, followed by Microsoft (MSFT, 3.7%) and Amazon.com (AMZN, 3.6%). Compared with Q1 2024, it opened 14 new positions, sold out of 21, added to 53 and reduced 55. The biggest buy was Apple (AAPL, shares +684%) and the biggest sale Zscaler (ZS, shares −96%).

Most Recent 13F
Q2 2026
Location
WARSAW, R9
CIK
0002079571
Portfolio Value
$263.0M (Q2 2024)
SEC Filing
0002079571-25-000005 ↗ filed Aug 29, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $253.7M Q1 2024 Q2 2024: $263.0M $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 162 stocks · $263.0M
NVDA Nvidia Corp. 6.63% 141,030 $17.4M Reduce -24.6%
MSFT Microsoft Corp. 3.70% 21,771 $9.7M Reduce -2.1%
AMZN Amazon.com Inc. 3.62% 49,236 $9.5M Reduce -9.8%
AMD Advanced Micro Devices 3.52% 57,079 $9.3M Reduce -0.0%
MRVL Marvell Technology Inc. 3.34% 125,562 $8.8M Reduce -15.2%
GOOG Alphabet Inc. Class C 3.12% 44,692 $8.2M Add +1.7%
ARM Arm Holdings PLC-ADR 3.04% 48,781 $8.0M Add +2.6%
ISRG Intuitive Surgical Inc. 2.69% 15,891 $7.1M No change
ELF Elf Beauty Inc. 2.59% 32,356 $6.8M Add +60.1%
AAPL Apple Inc. 2.39% 29,797 $6.3M Add +683.9%
NOW ServiceNow Inc. 2.18% 7,277 $5.7M Reduce -21.6%
V Visa Inc. Class A 2.08% 20,869 $5.5M Reduce -13.9%
CRM Salesforce Inc. 2.05% 21,011 $5.4M Reduce -6.1%
MU Micron Technology Inc. 1.99% 39,745 $5.2M Reduce -3.4%
MA Mastercard Inc. Class A 1.98% 11,783 $5.2M Reduce -1.8%
PSN Parsons Corp. 1.81% 58,189 $4.8M Add +1.8%
QCOM Qualcomm Inc. 1.79% 23,685 $4.7M Add +2.5%
CLH Clean Harbors Inc. 1.73% 20,057 $4.5M Reduce -2.4%
MPWR Monolithic Power Systems Inc. 1.72% 5,495 $4.5M No change
ROAD Construction Partners Inc. Class A 1.67% 79,376 $4.4M Add +1.7%
DXCM Dexcom Inc. 1.66% 38,420 $4.4M Reduce -12.1%
CYBR Cyberark Software Ltd./Israel 1.59% 15,250 $4.2M Reduce -6.4%
CRWD CrowdStrike Holdings Inc. Class A 1.53% 10,490 $4.0M Reduce -0.4%
RMBS Rambus Inc. 1.53% 68,400 $4.0M Reduce -14.1%
KO The Coca-Cola Co. 1.48% 61,002 $3.9M Add +1.1%
SYM Symbotic Inc. 1.38% 103,245 $3.6M Reduce -0.8%
MLM Martin Marietta Materials 1.22% 5,918 $3.2M Add +0.8%
VMC Vulcan Materials Co. 1.11% 11,721 $2.9M No change
IRDM Iridium Communications Inc. 1.05% 104,043 $2.8M No change
DDOG Datadog Inc. Class A 1.00% 20,266 $2.6M Reduce -26.8%
PWR Quanta Services Inc. 0.98% 10,157 $2.6M Reduce -4.5%
FSS Federal Signal Corp. 0.96% 30,087 $2.5M Add +4.4%
AVAV Aerovironment Inc. 0.95% 13,774 $2.5M Add +5.2%
WCN Waste Connections Inc. 0.94% 14,103 $2.5M Add +1.1%
ONON On Holding AG Class A filed as ON HLDG AG 0.93% 62,780 $2.4M Reduce -1.8%
XYZ Block Inc. 0.92% 37,400 $2.4M Reduce -5.5%
DECK Deckers Outdoor Corp. 0.87% 2,376 $2.3M Add +3.3%
FLYW Flywire Corp.-Voting 0.86% 138,100 $2.3M Reduce -4.5%
WAB Wabtec Corp. 0.77% 12,748 $2.0M Add +2.4%
IR Ingersoll-Rand Inc. 0.74% 21,403 $1.9M No change
CP Canadian Pacific Kansas City 0.71% 23,916 $1.9M Add +52.4%
CAT Caterpillar Inc. 0.70% 5,537 $1.8M Reduce -0.8%
CDNS Cadence Design SYS Inc. 0.69% 5,895 $1.8M Reduce -0.3%
LLY Eli Lilly & Co. 0.67% 1,938 $1.8M Add +23.2%
BABA Alibaba Group Holding-SP ADR 0.65% 23,850 $1.7M New
MUSA Murphy USA Inc. 0.65% 3,656 $1.7M Add +12.9%
LSCC Lattice Semiconductor Corp. 0.63% 28,570 $1.7M No change
ICE Intercontinental Exchange Inc. 0.57% 11,000 $1.5M Add +10.0%
EOG EOG Resources Inc. 0.55% 11,468 $1.4M Add +5.1%
MCHP Microchip Technology Inc. 0.54% 15,600 $1.4M Reduce -13.3%
HUBS HubSpot Inc. 0.53% 2,375 $1.4M No change
NTRA Natera Inc. 0.53% 12,910 $1.4M Reduce -6.5%
EXTR Extreme Networks Inc. 0.51% 100,400 $1.4M No change
SHW The Sherwin-Williams Co. 0.51% 4,519 $1.3M Reduce -0.5%
GFF Griffon Corp. 0.51% 20,950 $1.3M Add +3.5%
LIN Linde PLC 0.49% 2,948 $1.3M Reduce -0.4%
META Meta Platforms Inc. Class A 0.49% 2,542 $1.3M Add +65.7%
MPC Marathon Petroleum Corp. 0.47% 7,071 $1.2M Add +7.1%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.44% 10,809 $1.2M No change
COP Conocophillips 0.43% 9,808 $1.1M Add +10.1%
SNPS Synopsys Inc. 0.42% 1,850 $1.1M No change
ANSS Ansys Inc. 0.40% 3,250 $1.0M No change
UNH Unitedhealth Group Inc. 0.39% 2,017 $1.0M Add +8.6%
ADSK Autodesk Inc. 0.39% 4,097 $1.0M Reduce -0.5%
EMR Emerson Electric Co. 0.38% 9,100 $1.0M No change
FISV Fiserv Inc. 0.36% 6,380 $951K No change
PANW Palo Alto Networks Inc. 0.36% 2,800 $949K Reduce -14.4%
NVTS Navitas Semiconductor Corp. 0.36% 240,300 $944K No change
ABBV Abbvie Inc. 0.35% 5,372 $921K Add +1.2%
FRPT Freshpet Inc. 0.34% 7,000 $906K Add +32.1%
PTC PTC Inc. 0.33% 4,800 $872K No change
WM Waste Management Inc. 0.33% 4,049 $864K Reduce -0.5%
VEEV Veeva Systems Inc. Class A 0.30% 4,310 $789K No change
CROX Crocs Inc. 0.29% 5,138 $750K Add +0.6%
MNST Monster Beverage Corp. 0.28% 14,750 $737K No change
ROK Rockwell Automation Inc. 0.28% 2,650 $729K No change
B Barrick Gold Corp. 0.27% 42,131 $701K Reduce -14.4%
DVN Devon Energy Corp. 0.26% 14,695 $697K Reduce -0.4%
FCX Freeport-McMoran Inc. 0.26% 14,225 $691K Add +28.6%
SPGI S&P Global Inc. 0.25% 1,500 $669K No change
PCOR Procore Technologies Inc. 0.24% 9,500 $630K Reduce -12.0%
AXONICS INC 0.24% 9,200 $619K No change
CSX CSX Corp. 0.23% 18,173 $608K Reduce -0.7%
UNP Union Pacific Corp. 0.22% 2,500 $566K Reduce -30.6%
ADBE Adobe Inc. 0.21% 1,000 $556K New
MCO Moody's Corp. 0.21% 1,300 $547K Add +85.7%
ORLY O'reilly Automotive Inc. 0.20% 500 $528K No change
LULU Lululemon Athletica Inc. 0.20% 1,750 $523K No change
JPM JPMorgan Chase & Co. 0.18% 2,342 $474K Reduce -1.1%
TSM Taiwan Semiconductor-SP ADR 0.17% 2,580 $448K Add +3.2%
HD Home Depot Inc. 0.17% 1,278 $440K Reduce -2.6%
NEM Newmont Corp. 0.16% 10,120 $424K Add +20.0%
FICO Fair Isaac Corp. 0.16% 280 $417K No change
TW Tradeweb Markets Inc. Class A 0.15% 3,730 $395K Add +273.0%
WFC Wells Fargo & Co. 0.15% 6,445 $383K Reduce -1.6%
NOV Nov Inc. 0.14% 19,500 $371K Add +14.7%
NOG Northern Oil and Gas Inc. 0.14% 9,800 $364K Add +10.1%
CWST Casella Waste Systems Inc. Class A 0.13% 3,500 $347K Add +9.4%
POOL Pool Corp. 0.13% 1,112 $342K Reduce -1.2%
MSCI MSCI Inc. 0.13% 700 $337K Reduce -30.0%
PLAY Dave & Buster's Entertainmen 0.12% 8,000 $318K Reduce -20.0%
ALGN Align Technology Inc. 0.10% 1,100 $266K No change
AGCO Agco Corp. 0.10% 2,633 $258K Reduce -3.4%
PM Philip Morris International 0.10% 2,500 $253K No change
TOL Toll Brothers Inc. 0.10% 2,192 $252K Reduce -0.8%
CAMT Camtek Ltd. 0.09% 1,850 $232K Add +2.8%
WMT Walmart Inc. 0.09% 3,416 $231K Add +11.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.09% 5,708 $227K Add +11.1%
VRTX Vertex Pharmaceuticals Inc. 0.08% 475 $223K Add +33.8%
SGI Somnigroup International Inc. filed as TEMPUR SEALY INTL INC 0.08% 4,700 $222K No change
PRMW Primo Water Corp. 0.08% 10,000 $219K Add +100.0%
FDX FedEx Corp. 0.08% 700 $210K Reduce -26.4%
MNDY Monday.com Ltd. 0.08% 845 $203K No change
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.08% 15,500 $200K Add +25.0%
LNG Cheniere Energy Inc. 0.07% 1,053 $184K Add +13.8%
VRSN Verisign Inc. 0.07% 1,000 $178K No change
PLTR Palantir Technologies Inc. Class A 0.07% 7,000 $177K New
KNSL Kinsale Capital Group Inc. 0.07% 450 $173K Reduce -42.3%
ANET Arista Networks Inc. 0.07% 492 $172K Reduce -34.4%
AXON Axon Enterprise Inc. 0.07% 585 $172K No change
DE Deere & Co. 0.06% 399 $149K Reduce -27.6%
MELI MercadoLibre Inc. 0.05% 85 $140K New
TOST Toast Inc. Class A 0.05% 5,000 $129K No change
EXAS Exact Sciences Corp. 0.05% 3,000 $127K Reduce -34.8%
PHM Pultegroup Inc. 0.05% 1,102 $121K No change
ORCL Oracle Corp. 0.05% 857 $121K Add +626.3%
NFLX Netflix Inc. 0.04% 154 $104K New
SHOP Shopify Inc. Class A 0.04% 1,444 $95K Reduce -34.4%
LH Labcorp Holdings Inc. 0.03% 450 $92K No change
NSC Norfolk Southern Corp. 0.03% 412 $88K Reduce -4.6%
KTOS Kratos Defense & Security 0.03% 4,200 $84K New
ZS Zscaler Inc. 0.03% 414 $80K Reduce -95.6%
TSLA Tesla Inc. 0.03% 350 $69K New
CMG Chipotle Mexican Grill Inc. 0.03% 1,100 $69K New
CELH Celsius Holdings Inc. 0.03% 1,200 $69K Reduce -94.0%
TXG 10X Genomics Inc. Class A 0.03% 3,400 $66K No change
BRKR Bruker Corp. 0.02% 1,000 $64K No change
SITM Sitime Corp. 0.02% 500 $62K No change
CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP 0.02% 4,000 $61K No change
MDB Mongodb Inc. 0.02% 168 $42K Add +460.0%
BOOT Boot Barn Holdings Inc. 0.01% 212 $27K Add +24.7%
PYPL PayPal Holdings Inc. 0.01% 458 $27K Add +56.9%
CB Chubb Ltd. 0.01% 89 $23K Add +48.3%
OC Owens Corning 0.01% 130 $23K Add +160.0%
TDW Tidewater Inc. 0.01% 225 $21K Add +8.2%
MRK Merck & Co. Inc. 0.01% 170 $21K New
HIG Hartford Insurance Group Inc. 0.01% 205 $21K Add +20.6%
RL Ralph Lauren Corp. 0.01% 104 $18K Add +48.6%
NXPI NXP Semiconductors NV 0.01% 66 $18K Add +4.8%
COR Cencora Inc. 0.01% 78 $18K Add +160.0%
ELV Elevance Health Inc. 0.01% 32 $17K No change
RJF Raymond James Financial Inc. 0.01% 140 $17K No change
AMGN Amgen Inc. 0.01% 55 $17K No change
CARR Carrier Global Corp. 0.01% 250 $16K New
LOPE Grand Canyon Education Inc. 0.01% 108 $15K New
AZO AutoZone Inc. 0.01% 5 $15K New
XOM Exxon Mobil Corp. 0.01% 121 $14K New
CI The Cigna Group 0.01% 40 $13K No change
LBRT Liberty Energy Inc. 0.00% 470 $10K Reduce -24.2%
TRGP Targa Resources Corp. 0.00% 73 $9K New
FSLR First Solar Inc. 0.00% 40 $9K Reduce -57.5%
URI United Rentals Inc. 0.00% 11 $7K Reduce -15.4%

Portfolio Sells Q1 2024 → Q2 2024
ZS Zscaler Inc. Reduce -95.6% 0.03% −0.65
DXCM Dexcom Inc. Reduce -12.1% 1.66% −0.63
MRVL Marvell Technology Inc. Reduce -15.2% 3.34% −0.63
CELH Celsius Holdings Inc. Reduce -94.0% 0.03% −0.61
NOW ServiceNow Inc. Reduce -21.6% 2.18% −0.50
FLYW Flywire Corp.-Voting Reduce -4.5% 0.86% −0.49
CRM Salesforce Inc. Reduce -6.1% 2.05% −0.49
V Visa Inc. Class A Reduce -13.9% 2.08% −0.47
SYM Symbotic Inc. Reduce -0.8% 1.38% −0.39
AMD Advanced Micro Devices Reduce -0.0% 3.52% −0.37
XYZ Block Inc. Reduce -5.5% 0.92% −0.35
RMBS Rambus Inc. Reduce -14.1% 1.53% −0.33
BILL Bill Holdings Inc. Sold out 0.00% −0.30
DDOG Datadog Inc. Class A Reduce -26.8% 1.00% −0.29
MA Mastercard Inc. Class A Reduce -1.8% 1.98% −0.21
FIVE Five Below Sold out 0.00% −0.17
UNP Union Pacific Corp. Reduce -30.6% 0.22% −0.12
PLAY Dave & Buster's Entertainmen Reduce -20.0% 0.12% −0.12
BLMN Bloomin' Brands Inc. Sold out 0.00% −0.10
AMZN Amazon.com Inc. Reduce -9.8% 3.62% −0.10
PCOR Procore Technologies Inc. Reduce -12.0% 0.24% −0.10
NKE Nike Inc. Class B Sold out 0.00% −0.09
KNSL Kinsale Capital Group Inc. Reduce -42.3% 0.07% −0.09
MSCI MSCI Inc. Reduce -30.0% 0.13% −0.08
SHW The Sherwin-Williams Co. Reduce -0.5% 0.51% −0.08
DUOL Duolingo Sold out 0.00% −0.08
EXAS Exact Sciences Corp. Reduce -34.8% 0.05% −0.07
CAT Caterpillar Inc. Reduce -0.8% 0.70% −0.07
M D C HLDGS INC Sold out 0.00% −0.07
MCHP Microchip Technology Inc. Reduce -13.3% 0.54% −0.07
PWR Quanta Services Inc. Reduce -4.5% 0.98% −0.06
CYBR Cyberark Software Ltd./Israel Reduce -6.4% 1.59% −0.05
POOL Pool Corp. Reduce -1.2% 0.13% −0.04
B Barrick Gold Corp. Reduce -14.4% 0.27% −0.04
INSP Inspire Medical Systems Inc. Sold out 0.00% −0.04
TTWO Take-Two Interactive Softwre Sold out 0.00% −0.04
RGNX Regenxbio Inc. Sold out 0.00% −0.03
SNOW Snowflake Inc. Sold out 0.00% −0.03
AMBA Ambarella Inc. Sold out 0.00% −0.03
BMRN Biomarin Pharmaceutical Inc. Sold out 0.00% −0.03
DE Deere & Co. Reduce -27.6% 0.06% −0.03
AGCO Agco Corp. Reduce -3.4% 0.10% −0.03
SHOP Shopify Inc. Class A Reduce -34.4% 0.04% −0.03
LIN Linde PLC Reduce -0.4% 0.49% −0.03
CSX CSX Corp. Reduce -0.7% 0.23% −0.03
FDX FedEx Corp. Reduce -26.4% 0.08% −0.02
HD Home Depot Inc. Reduce -2.6% 0.17% −0.02
ADSK Autodesk Inc. Reduce -0.5% 0.39% −0.02
ANET Arista Networks Inc. Reduce -34.4% 0.07% −0.02
DVN Devon Energy Corp. Reduce -0.4% 0.26% −0.01

Portfolio Buys Q1 2024 → Q2 2024
AAPL Apple Inc. Add +683.9% 2.39% +2.14
ELF Elf Beauty Inc. Add +60.1% 2.59% +1.10
ARM Arm Holdings PLC-ADR Add +2.6% 3.04% +0.79
BABA Alibaba Group Holding-SP ADR New 0.65% +0.65
GOOG Alphabet Inc. Class C Add +1.7% 3.12% +0.59
QCOM Qualcomm Inc. Add +2.5% 1.79% +0.32
ADBE Adobe Inc. New 0.21% +0.21
META Meta Platforms Inc. Class A Add +65.7% 0.49% +0.21
LLY Eli Lilly & Co. Add +23.2% 0.67% +0.20
AVAV Aerovironment Inc. Add +5.2% 0.95% +0.20
CP Canadian Pacific Kansas City Add +52.4% 0.71% +0.19
MUSA Murphy USA Inc. Add +12.9% 0.65% +0.14
FRPT Freshpet Inc. Add +32.1% 0.34% +0.11
TW Tradeweb Markets Inc. Class A Add +273.0% 0.15% +0.11
MCO Moody's Corp. Add +85.7% 0.21% +0.10
KO The Coca-Cola Co. Add +1.1% 1.48% +0.08
WAB Wabtec Corp. Add +2.4% 0.77% +0.08
PLTR Palantir Technologies Inc. Class A New 0.07% +0.07
FCX Freeport-McMoran Inc. Add +28.6% 0.26% +0.07
DECK Deckers Outdoor Corp. Add +3.3% 0.87% +0.06
ICE Intercontinental Exchange Inc. Add +10.0% 0.57% +0.05
MELI MercadoLibre Inc. New 0.05% +0.05
PRMW Primo Water Corp. Add +100.0% 0.08% +0.05
NEM Newmont Corp. Add +20.0% 0.16% +0.05
UNH Unitedhealth Group Inc. Add +8.6% 0.39% +0.04
TSM Taiwan Semiconductor-SP ADR Add +3.2% 0.17% +0.04
ORCL Oracle Corp. Add +626.3% 0.05% +0.04
NFLX Netflix Inc. New 0.04% +0.04
FSS Federal Signal Corp. Add +4.4% 0.96% +0.03
WCN Waste Connections Inc. Add +1.1% 0.94% +0.03
KTOS Kratos Defense & Security New 0.03% +0.03
CAMT Camtek Ltd. Add +2.8% 0.09% +0.03
VRTX Vertex Pharmaceuticals Inc. Add +33.8% 0.08% +0.03
TSLA Tesla Inc. New 0.03% +0.03
CMG Chipotle Mexican Grill Inc. New 0.03% +0.03
EOG EOG Resources Inc. Add +5.1% 0.55% +0.02
NU Nu Holdings Ltd./Cayman Isl-A Add +25.0% 0.08% +0.02
PSN Parsons Corp. Add +1.8% 1.81% +0.02
WMT Walmart Inc. Add +11.8% 0.09% +0.02
NOV Nov Inc. Add +14.7% 0.14% +0.02
LNG Cheniere Energy Inc. Add +13.8% 0.07% +0.01
BAC Bank of America Corp. Add +11.1% 0.09% +0.01
CWST Casella Waste Systems Inc. Class A Add +9.4% 0.13% +0.01
MDB Mongodb Inc. Add +460.0% 0.02% +0.01
ROAD Construction Partners Inc. Class A Add +1.7% 1.67% +0.01
MRK Merck & Co. Inc. New 0.01% +0.01
CROX Crocs Inc. Add +0.6% 0.29% +0.01
CARR Carrier Global Corp. New 0.01% +0.01
LOPE Grand Canyon Education Inc. New 0.01% +0.01
AZO AutoZone Inc. New 0.01% +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