Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna reported 181 stock positions worth $264.0 million. Its top holding was Nvidia (NVDA) at 7.0% of the portfolio, followed by Microsoft (MSFT, 5.7%) and Alphabet Class C (GOOG, 5.2%). Compared with Q3 2025, it opened 44 new positions, sold out of 53, added to 66 and reduced 45. The biggest buy was Alphabet Class C (GOOG, shares +21%) and the biggest sale an exit from Cyberark Software Ltd./Israel (CYBR).
- Most Recent 13F
- Q2 2026
- Location
- WARSAW, R9
- CIK
- 0002079571
- Portfolio Value
- $264.0M (Q4 2025)
- SEC Filing
- 0002079571-26-000001 ↗ filed Feb 11, 2026
Holdings Value
Holdings 181 stocks · $264.0M
| NVDA Nvidia Corp. | 7.01% | 99,263 | $18.5M | Add +8.5% |
| MSFT Microsoft Corp. | 5.71% | 31,160 | $15.1M | Add +8.4% |
| GOOG Alphabet Inc. Class C | 5.24% | 44,105 | $13.8M | Add +20.8% |
| AMZN Amazon.com Inc. | 3.99% | 45,657 | $10.5M | Add +44.1% |
| AAPL Apple Inc. | 3.51% | 34,100 | $9.3M | Reduce -22.6% |
| NOW ServiceNow Inc. | 2.98% | 51,405 | $7.9M | Add +27.1% |
| META Meta Platforms Inc. Class A | 2.80% | 11,196 | $7.4M | Add +67.3% |
| MA Mastercard Inc. Class A | 2.48% | 11,492 | $6.6M | Reduce -22.0% |
| MU Micron Technology Inc. | 2.47% | 22,866 | $6.5M | Add +3.0% |
| AMD Advanced Micro Devices | 2.16% | 26,621 | $5.7M | Add +7.3% |
| AVGO Broadcom Inc. | 2.11% | 16,128 | $5.6M | Add +356.0% |
| CRM Salesforce Inc. | 1.75% | 17,490 | $4.6M | Add +16.2% |
| ISRG Intuitive Surgical Inc. | 1.73% | 8,045 | $4.6M | Reduce -32.0% |
| CLH Clean Harbors Inc. | 1.63% | 18,407 | $4.3M | Add +4.3% |
| ROAD Construction Partners Inc. Class A | 1.57% | 38,065 | $4.1M | No change |
| V Visa Inc. Class A | 1.26% | 9,464 | $3.3M | Reduce -45.7% |
| PWR Quanta Services Inc. | 1.24% | 7,765 | $3.3M | Add +1.4% |
| MPWR Monolithic Power Systems Inc. | 1.19% | 3,458 | $3.1M | Add +2.1% |
| JPM JPMorgan Chase & Co. | 1.15% | 9,418 | $3.0M | Add +67.8% |
| MELI MercadoLibre Inc. | 1.10% | 1,448 | $2.9M | Add +1.4% |
| KTOS Kratos Defense & Security | 1.10% | 38,408 | $2.9M | Reduce -19.7% |
| DDOG Datadog Inc. Class A | 1.08% | 20,945 | $2.8M | Reduce -3.5% |
| RMBS Rambus Inc. | 1.04% | 29,750 | $2.7M | No change |
| FCX Freeport-McMoran Inc. | 1.02% | 52,841 | $2.7M | Add +1480.2% |
| SYM Symbotic Inc. | 1.00% | 44,175 | $2.6M | Reduce -43.5% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.98% | 154,510 | $2.6M | Add +7.1% |
| FSS Federal Signal Corp. | 0.97% | 23,498 | $2.6M | No change |
| KRMN Karman Holdings Inc. | 0.95% | 34,127 | $2.5M | New |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.92% | 20,878 | $2.4M | Add +19412.2% |
| WM Waste Management Inc. | 0.92% | 11,007 | $2.4M | Add +5.5% |
| GS Goldman Sachs Group Inc. | 0.91% | 2,728 | $2.4M | New |
| KVYO Klaviyo Inc. Class A | 0.87% | 71,081 | $2.3M | Add +15.4% |
| NFLX Netflix Inc. | 0.87% | 24,569 | $2.3M | Reduce -0.7% |
| OSW Onespaworld Holdings Ltd. | 0.80% | 101,519 | $2.1M | Add +14.0% |
| UBER Uber Technologies Inc. | 0.80% | 25,723 | $2.1M | Add +727.4% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.77% | 44,000 | $2.0M | Add +17.8% |
| WCN Waste Connections Inc. | 0.72% | 10,886 | $1.9M | Reduce -12.1% |
| ORCL Oracle Corp. | 0.72% | 9,746 | $1.9M | Add +5.6% |
| WAB Wabtec Corp. | 0.71% | 8,841 | $1.9M | Add +1.7% |
| MLM Martin Marietta Materials | 0.70% | 2,962 | $1.8M | Reduce -16.8% |
| LSCC Lattice Semiconductor Corp. | 0.66% | 23,770 | $1.7M | No change |
| CAT Caterpillar Inc. | 0.64% | 2,955 | $1.7M | Add +0.7% |
| RKLB Rocket Lab Corp. | 0.63% | 23,785 | $1.7M | New |
| ARM Arm Holdings PLC-ADR | 0.63% | 15,155 | $1.7M | No change |
| VMC Vulcan Materials Co. | 0.63% | 5,805 | $1.7M | Reduce -34.1% |
| CDNS Cadence Design SYS Inc. | 0.60% | 5,100 | $1.6M | Reduce -21.5% |
| WMT Walmart Inc. | 0.60% | 14,179 | $1.6M | Add +0.3% |
| TSLA Tesla Inc. | 0.59% | 3,491 | $1.6M | Reduce -12.9% |
| NTRA Natera Inc. | 0.58% | 6,680 | $1.5M | Reduce -8.6% |
| COST Costco Wholesale Corp. | 0.57% | 1,740 | $1.5M | Add +49.5% |
| MRVL Marvell Technology Inc. | 0.54% | 16,679 | $1.4M | Add +13.6% |
| LITE Lumentum Holdings Inc. | 0.52% | 3,730 | $1.4M | New |
| SPGI S&P Global Inc. | 0.51% | 2,600 | $1.4M | Add +30.0% |
| UNP Union Pacific Corp. | 0.50% | 5,701 | $1.3M | Add +338.5% |
| BROS Dutch Bros Inc. Class A | 0.49% | 21,322 | $1.3M | Add +19.9% |
| COF Capital One Financial Corp. | 0.48% | 5,245 | $1.3M | Add +5145.0% |
| GM General Motors Co. | 0.48% | 15,545 | $1.3M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.47% | 4,063 | $1.2M | New |
| KO The Coca-Cola Co. | 0.46% | 17,523 | $1.2M | Reduce -34.5% |
| CCL Carnival Corp. | 0.43% | 37,450 | $1.1M | Reduce -4.2% |
| GH Guardant Health Inc. | 0.43% | 11,000 | $1.1M | Add +1.9% |
| SNOW Snowflake Inc. | 0.42% | 5,114 | $1.1M | Add +0.9% |
| CIEN Ciena Corp. | 0.42% | 4,714 | $1.1M | New |
| PANW Palo Alto Networks Inc. | 0.41% | 5,929 | $1.1M | Add +3.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.40% | 2,264 | $1.1M | Reduce -0.7% |
| AAON Aaon Inc. | 0.39% | 13,600 | $1.0M | No change |
| XYZ Block Inc. | 0.38% | 15,220 | $991K | Reduce -57.3% |
| IR Ingersoll-Rand Inc. | 0.38% | 12,499 | $990K | No change |
| SHOP Shopify Inc. Class A | 0.36% | 5,953 | $958K | Add +43.9% |
| SGI Somnigroup International Inc. | 0.36% | 10,500 | $937K | Add +55.6% |
| GXO Gxo Logistics Inc. | 0.34% | 17,100 | $900K | Add +14.0% |
| ROK Rockwell Automation Inc. | 0.34% | 2,310 | $899K | No change |
| MCK McKesson Corp. | 0.33% | 1,054 | $865K | Reduce -58.7% |
| CFG Citizens Financial Group | 0.33% | 14,736 | $861K | New |
| ZS Zscaler Inc. | 0.33% | 3,815 | $858K | Add +368.1% |
| RL Ralph Lauren Corp. | 0.31% | 2,342 | $828K | Add +7706.7% |
| MNST Monster Beverage Corp. | 0.31% | 10,650 | $817K | No change |
| TTMI TTM Technologies | 0.31% | 11,781 | $813K | New |
| CHWY Chewy Inc. Class A | 0.29% | 23,150 | $765K | Reduce -10.3% |
| EMR Emerson Electric Co. | 0.28% | 5,500 | $730K | No change |
| GFF Griffon Corp. | 0.27% | 9,850 | $725K | Reduce -44.8% |
| AGI Alamos Gold Inc. Class A | 0.27% | 18,178 | $703K | Reduce -19.1% |
| HUBS HubSpot Inc. | 0.26% | 1,715 | $688K | No change |
| COHR Coherent Corp. | 0.26% | 3,700 | $683K | New |
| ADSK Autodesk Inc. | 0.25% | 2,270 | $672K | No change |
| ICE Intercontinental Exchange Inc. | 0.25% | 4,000 | $648K | Reduce -46.7% |
| GWRE Guidewire Software Inc. | 0.24% | 3,200 | $643K | New |
| MCHP Microchip Technology Inc. | 0.24% | 10,065 | $641K | No change |
| MSCI MSCI Inc. | 0.24% | 1,100 | $631K | Add +31.1% |
| PH Parker Hannifin Corp. | 0.23% | 692 | $608K | New |
| STLD Steel Dynamics Inc. | 0.23% | 3,582 | $607K | New |
| HUBG Hub Group Inc. Class A | 0.23% | 14,000 | $597K | New |
| MHO M/I Homes Inc. | 0.22% | 4,600 | $589K | Add +37.3% |
| HD Home Depot Inc. | 0.22% | 1,700 | $585K | Reduce -39.3% |
| GAP The Gap Inc. | 0.22% | 22,686 | $581K | New |
| VSXY Victoria's Secret & Co. | 0.22% | 10,700 | $580K | New |
| BSX Boston Scientific Corp. | 0.21% | 5,928 | $565K | Reduce -16.0% |
| EXTR Extreme Networks Inc. | 0.21% | 33,700 | $561K | No change |
| DASH DoorDash Inc. Class A | 0.21% | 2,440 | $553K | Add +144.7% |
| SHW The Sherwin-Williams Co. | 0.21% | 1,700 | $551K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −1.36 |
| V Visa Inc. Class A | Reduce -45.7% | 1.26% | −1.12 |
| AAPL Apple Inc. | Reduce -22.6% | 3.51% | −0.98 |
| MA Mastercard Inc. Class A | Reduce -22.0% | 2.48% | −0.87 |
| QCOM Qualcomm Inc. | Reduce -99.3% | 0.01% | −0.71 |
| SYM Symbotic Inc. | Reduce -43.5% | 1.00% | −0.69 |
| S Sentinelone Inc. Class A | Sold out | 0.00% | −0.68 |
| PSN Parsons Corp. | Sold out | 0.00% | −0.68 |
| XYZ Block Inc. | Reduce -57.3% | 0.38% | −0.66 |
| KTOS Kratos Defense & Security | Reduce -19.7% | 1.10% | −0.65 |
| CP Canadian Pacific Kansas City | Reduce -80.5% | 0.14% | −0.63 |
| VEEV Veeva Systems Inc. Class A | Sold out | 0.00% | −0.56 |
| CME Cme Group Inc. | Sold out | 0.00% | −0.55 |
| MCK McKesson Corp. | Reduce -58.7% | 0.33% | −0.46 |
| VMC Vulcan Materials Co. | Reduce -34.1% | 0.63% | −0.46 |
| SITE Siteone Landscape Supply Inc. | Sold out | 0.00% | −0.44 |
| ISRG Intuitive Surgical Inc. | Reduce -32.0% | 1.73% | −0.39 |
| BAC Bank of America Corp. | Reduce -73.9% | 0.12% | −0.35 |
| NVTS Navitas Semiconductor Corp. | Sold out | 0.00% | −0.33 |
| MUSA Murphy USA Inc. | Sold out | 0.00% | −0.33 |
| WFC Wells Fargo & Co. | Reduce -78.1% | 0.10% | −0.33 |
| NFLX Netflix Inc. | Reduce -0.7% | 0.87% | −0.32 |
| CDNS Cadence Design SYS Inc. | Reduce -21.5% | 0.60% | −0.31 |
| PTC PTC Inc. | Sold out | 0.00% | −0.29 |
| FISV Fiserv Inc. | Sold out | 0.00% | −0.28 |
| PCOR Procore Technologies Inc. | Sold out | 0.00% | −0.28 |
| GFF Griffon Corp. | Reduce -44.8% | 0.27% | −0.27 |
| ICE Intercontinental Exchange Inc. | Reduce -46.7% | 0.25% | −0.26 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.26 |
| AEM Agnico Eagle Mines Ltd. | Reduce -56.4% | 0.18% | −0.25 |
| TW Tradeweb Markets Inc. Class A | Sold out | 0.00% | −0.25 |
| KO The Coca-Cola Co. | Reduce -34.5% | 0.46% | −0.25 |
| HD Home Depot Inc. | Reduce -39.3% | 0.22% | −0.23 |
| TOST Toast Inc. Class A | Reduce -70.3% | 0.09% | −0.23 |
| FRPT Freshpet Inc. | Sold out | 0.00% | −0.23 |
| CDE Coeur Mining Inc. | Reduce -78.9% | 0.05% | −0.22 |
| MLM Martin Marietta Materials | Reduce -16.8% | 0.70% | −0.20 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.18 |
| BMY Bristol-Myers Squibb Co. | Reduce -56.3% | 0.18% | −0.18 |
| DDOG Datadog Inc. Class A | Reduce -3.5% | 1.08% | −0.16 |
| WCN Waste Connections Inc. | Reduce -12.1% | 0.72% | −0.15 |
| LYV Live Nation Entertainment Inc. | Sold out | 0.00% | −0.13 |
| CHWY Chewy Inc. Class A | Reduce -10.3% | 0.29% | −0.13 |
| TSLA Tesla Inc. | Reduce -12.9% | 0.59% | −0.12 |
| FICO Fair Isaac Corp. | Reduce -50.0% | 0.13% | −0.11 |
| PRMB Primo Brands Corp. | Sold out | 0.00% | −0.11 |
| B Barrick Gold Corp. | Sold out | 0.00% | −0.11 |
| NOG Northern Oil and Gas Inc. | Sold out | 0.00% | −0.10 |
| MNDY Monday.com Ltd. | Sold out | 0.00% | −0.10 |
| LNG Cheniere Energy Inc. | Reduce -70.0% | 0.03% | −0.09 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOG Alphabet Inc. Class C | Add +20.8% | 5.24% | +1.68 |
| AVGO Broadcom Inc. | Add +356.0% | 2.11% | +1.65 |
| AMZN Amazon.com Inc. | Add +44.1% | 3.99% | +1.21 |
| MU Micron Technology Inc. | Add +3.0% | 2.47% | +0.98 |
| FCX Freeport-McMoran Inc. | Add +1480.2% | 1.02% | +0.96 |
| KRMN Karman Holdings Inc. | New | 0.95% | +0.95 |
| BNY Bank of New York Mellon Corp. | Add +19412.2% | 0.92% | +0.91 |
| GS Goldman Sachs Group Inc. | New | 0.91% | +0.91 |
| META Meta Platforms Inc. Class A | Add +67.3% | 2.80% | +0.83 |
| UBER Uber Technologies Inc. | Add +727.4% | 0.80% | +0.67 |
| RKLB Rocket Lab Corp. | New | 0.63% | +0.63 |
| AMD Advanced Micro Devices | Add +7.3% | 2.16% | +0.55 |
| LITE Lumentum Holdings Inc. | New | 0.52% | +0.52 |
| GM General Motors Co. | New | 0.48% | +0.48 |
| COF Capital One Financial Corp. | Add +5145.0% | 0.48% | +0.47 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.47% | +0.47 |
| JPM JPMorgan Chase & Co. | Add +67.8% | 1.15% | +0.44 |
| CIEN Ciena Corp. | New | 0.42% | +0.42 |
| UNP Union Pacific Corp. | Add +338.5% | 0.50% | +0.38 |
| CRM Salesforce Inc. | Add +16.2% | 1.75% | +0.33 |
| CFG Citizens Financial Group | New | 0.33% | +0.33 |
| RL Ralph Lauren Corp. | Add +7706.7% | 0.31% | +0.31 |
| TTMI TTM Technologies | New | 0.31% | +0.31 |
| COHR Coherent Corp. | New | 0.26% | +0.26 |
| GWRE Guidewire Software Inc. | New | 0.24% | +0.24 |
| PH Parker Hannifin Corp. | New | 0.23% | +0.23 |
| STLD Steel Dynamics Inc. | New | 0.23% | +0.23 |
| ZS Zscaler Inc. | Add +368.1% | 0.33% | +0.23 |
| HUBG Hub Group Inc. Class A | New | 0.23% | +0.23 |
| GAP The Gap Inc. | New | 0.22% | +0.22 |
| VSXY Victoria's Secret & Co. | New | 0.22% | +0.22 |
| ROST Ross Stores Inc. | New | 0.19% | +0.19 |
| KVYO Klaviyo Inc. Class A | Add +15.4% | 0.87% | +0.19 |
| FTAI Ftai Aviation Ltd. | New | 0.18% | +0.18 |
| NVDA Nvidia Corp. | Add +8.5% | 7.01% | +0.17 |
| TKO Tko Group Holdings Inc. | New | 0.17% | +0.17 |
| AMG Affiliated Managers Group | New | 0.16% | +0.16 |
| GH Guardant Health Inc. | Add +1.9% | 0.43% | +0.16 |
| APTV Aptiv PLC | New | 0.15% | +0.15 |
| ONON On Holding AG Class A | Add +17.8% | 0.77% | +0.14 |
| COST Costco Wholesale Corp. | Add +49.5% | 0.57% | +0.14 |
| ANET Arista Networks Inc. | New | 0.13% | +0.13 |
| SGI Somnigroup International Inc. | Add +55.6% | 0.36% | +0.13 |
| SPGI S&P Global Inc. | Add +30.0% | 0.51% | +0.12 |
| LLY Eli Lilly & Co. | New | 0.12% | +0.12 |
| BROS Dutch Bros Inc. Class A | Add +19.9% | 0.49% | +0.12 |
| SHOP Shopify Inc. Class A | Add +43.9% | 0.36% | +0.12 |
| CNOB Connectone Bancorp Inc. | New | 0.12% | +0.12 |
| IRTC Irhythm Holdings Inc. | New | 0.11% | +0.11 |
| ADPT Adaptive Biotechnologies | New | 0.10% | +0.10 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 199 | $300.5M | NVDA, MSFT, GOOG, MU, AMZN |
| Q1 2026 | 191 | $242.1M | NVDA, MSFT, GOOG, AMZN, AMD |
| Q4 2025 | 181 | $264.0M | NVDA, MSFT, GOOG, AMZN, AAPL |
| Q3 2025 | 190 | $249.7M | NVDA, MSFT, AAPL, GOOG, MA |
| Q2 2025 | 200 | $249.3M | MSFT, NVDA, AAPL, NOW, MA |
| Q1 2025 | 185 | $211.9M | NVDA, MSFT, AMZN, AAPL, NOW |
| Q4 2024 | 180 | $251.8M | NVDA, MSFT, AMZN, MRVL, TSLA |
| Q3 2024 | 177 | $259.2M | NVDA, MSFT, AMD, AAPL, MRVL |
| Q2 2024 | 162 | $263.0M | NVDA, MSFT, AMZN, AMD, MRVL |
| Q1 2024 | 169 | $253.7M | NVDA, MRVL, AMD, AMZN, MSFT |