Mirova

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Mirova reported 119 stock positions worth $708.8 million. Its top holding was Thermo Fisher Scientific (TMO) at 7.9% of the portfolio, followed by Ecolab (ECL, 6.2%) and Nvidia (NVDA, 5.9%). Compared with Q1 2025, it opened 7 new positions, sold out of 22, added to 61 and reduced 36. The biggest buy was Nvidia (NVDA, shares +12%) and the biggest sale Thermo Fisher Scientific (TMO, shares −9%).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001767843
Portfolio Value
$708.8M (Q2 2025)
SEC Filing
0001104659-25-077548 ↗ filed Aug 13, 2025

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $564.5M Q1 2024 Q2 2024: $547.3M Q2 2024 Q3 2024: $578.7M Q3 2024 Q4 2024: $579.5M Q4 2024 Q1 2025: $555.9M Q1 2025 Q2 2025: $708.8M $708.8M Q2 2025 Q3 2025: $707.4M Q3 2025 Q4 2025: $693.5M Q4 2025 Q1 2026: $2.5B Q1 2026 Q2 2026: $2.7B Q2 2026

Holdings 119 stocks · $708.8M
TMO Thermo Fisher Scientific Inc. 7.91% 138,272 $56.1M Reduce -8.7%
ECL Ecolab Inc. 6.22% 163,663 $44.1M Add +2.9%
NVDA Nvidia Corp. 5.90% 264,875 $41.8M Add +11.7%
MSFT Microsoft Corp. 5.50% 78,330 $39.0M Add +15.5%
ACN Accenture PLC Class A 5.31% 125,912 $37.6M Add +5.2%
LLY Eli Lilly & Co. 3.17% 28,850 $22.5M Add +8.0%
WM Waste Management Inc. 2.70% 83,688 $19.1M Add +28.6%
XYL Xylem Inc. 2.63% 144,268 $18.7M Add +67.3%
TRMB Trimble Inc. 2.51% 234,596 $17.8M Add +70.9%
V Visa Inc. Class A 2.50% 49,953 $17.7M Add +11.1%
AWK American Water Works Co. Inc. 2.27% 115,904 $16.1M Add +45.3%
AXP American Express Co. 2.23% 49,506 $15.8M Add +8.1%
BSY Bentley Systems Inc. Class B 2.02% 265,763 $14.3M Add +51.4%
CL Colgate-Palmolive Co. 1.68% 131,019 $11.9M Add +81.3%
BMI Badger Meter Inc. 1.67% 48,417 $11.9M Add +92.6%
SYK Stryker Corp. 1.61% 28,779 $11.4M Add +10.1%
EBAY eBay Inc. 1.56% 148,333 $11.0M Add +65.9%
CDNS Cadence Design SYS Inc. 1.50% 34,591 $10.7M Add +132.1%
SFM Sprouts Farmers Market Inc. 1.39% 59,975 $9.9M Add +135.8%
ZTS Zoetis Inc. 1.39% 63,170 $9.9M Add +102.3%
ISRG Intuitive Surgical Inc. 1.33% 17,327 $9.4M Add +21.4%
IEX Idex Corp. 1.23% 49,611 $8.7M Add +96.1%
PG The Procter & Gamble Co. 1.21% 54,012 $8.6M Add +19.8%
LIN Linde PLC 1.21% 18,269 $8.6M Add +33.0%
FSLR First Solar Inc. 1.13% 48,511 $8.0M Add +91.9%
PNR Pentair PLC 1.13% 77,996 $8.0M Add +227.1%
EMR Emerson Electric Co. 1.11% 59,054 $7.9M Add +117.3%
UNP Union Pacific Corp. 1.00% 30,803 $7.1M Add +8.2%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.96% 92,305 $6.8M Add +12.6%
NOW ServiceNow Inc. 0.92% 6,375 $6.6M Add +6.4%
AVY Avery Dennison Corp. 0.90% 36,404 $6.4M Add +162.8%
CRM Salesforce Inc. 0.90% 23,410 $6.4M Add +24.1%
GPK Graphic Packaging Holding Co. 0.89% 300,686 $6.3M Add +99.2%
PANW Palo Alto Networks Inc. 0.88% 30,648 $6.3M Add +36.4%
WDAY Workday Inc. Class A 0.86% 25,377 $6.1M Add +13.0%
ROP Roper Technologies Inc. 0.82% 10,196 $5.8M Add +53.5%
ENS Enersys 0.77% 63,735 $5.5M Add +46.9%
TT Trane Technologies PLC 0.76% 12,304 $5.4M Reduce -7.4%
ITRI Itron Inc. 0.74% 39,854 $5.2M Add +142.8%
TTEK Tetra Tech Inc. 0.73% 144,829 $5.2M Add +19.8%
GM General Motors Co. 0.72% 103,974 $5.1M Reduce -22.4%
BFAM Bright Horizons Family Solut 0.72% 41,343 $5.1M Reduce -23.1%
GDDY GoDaddy Inc. Class A 0.72% 28,245 $5.1M Add +11.8%
PWR Quanta Services Inc. 0.72% 13,431 $5.1M Add +6.6%
MA Mastercard Inc. Class A 0.70% 8,842 $5.0M Add +1.0%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.65% 57,357 $4.6M Add +7.2%
RUN Sunrun Inc. 0.65% 563,691 $4.6M Reduce -29.4%
LULU Lululemon Athletica Inc. 0.62% 18,571 $4.4M Add +18.4%
VLTO Veralto Corp. 0.60% 42,039 $4.2M Add +65.3%
WTS Watts Water Technologies-A 0.59% 17,089 $4.2M Add +209.5%
CYBR Cyberark Software Ltd./Israel 0.57% 9,877 $4.0M Add +6.9%
FLEX Flex Ltd. 0.54% 75,958 $3.8M Reduce -10.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.49% 28,326 $3.5M Add +79.8%
MTD Mettler-Toledo International 0.47% 2,860 $3.4M Add +54.1%
NEE Nextera Energy Inc. 0.46% 47,014 $3.3M Reduce -5.5%
CMG Chipotle Mexican Grill Inc. 0.46% 57,929 $3.3M Reduce -15.5%
WY Weyerhaeuser Co. 0.43% 119,727 $3.1M Add +25.4%
PTC PTC Inc. 0.38% 15,500 $2.7M Add +144.9%
TPC Tutor Perini Corp. 0.36% 54,941 $2.6M Reduce -23.1%
ORCL Oracle Corp. 0.34% 11,130 $2.4M Reduce -15.4%
VITL Vital Farms Inc. 0.32% 59,752 $2.3M Add +262.9%
BEPC Brookfield Renewable Corp. 0.32% 68,243 $2.2M No change
EXPO Exponent Inc. 0.31% 29,656 $2.2M Reduce -47.4%
CNM Core & Main Inc. Class A 0.31% 36,026 $2.2M Add +11.9%
BSX Boston Scientific Corp. 0.31% 20,194 $2.2M Reduce -9.6%
HUBB Hubbell Inc. 0.29% 5,000 $2.0M New
MPWR Monolithic Power Systems Inc. 0.29% 2,767 $2.0M Reduce -9.8%
TREX Trex Company Inc. 0.28% 36,443 $2.0M Add +50.5%
VZ Verizon Communications Inc. 0.28% 45,129 $2.0M Reduce -20.4%
VRT Vertiv Holdings Co. Class A 0.27% 15,000 $1.9M Add +50.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.25% 19,684 $1.8M Add +14.7%
ZWS Zurn Elkay Water Solutions C 0.25% 48,509 $1.8M No change
ABT Abbott Laboratories 0.24% 12,671 $1.7M New
PFE Pfizer Inc. 0.23% 68,408 $1.7M Reduce -5.3%
PL Planet Labs PBC 0.23% 268,777 $1.6M Add +206.5%
ON On Semiconductor 0.22% 29,208 $1.5M No change
NFLX Netflix Inc. 0.21% 1,110 $1.5M Add +111.4%
MDT Medtronic PLC 0.20% 16,401 $1.4M New
ROK Rockwell Automation Inc. 0.18% 3,840 $1.3M No change
MP MP Materials Corp. 0.18% 37,897 $1.3M Reduce -28.4%
APTV Aptiv PLC 0.15% 16,013 $1.1M No change
ANSS Ansys Inc. 0.14% 2,907 $1.0M No change
AGCO Agco Corp. 0.14% 9,787 $1.0M Reduce -1.7%
EMBC Embecta Corp. 0.14% 103,010 $998K Add +254.2%
MWA Mueller Water Products Inc. Class A 0.13% 39,335 $946K No change
DHR Danaher Corp. 0.10% 3,459 $683K Reduce -12.0%
ARRY Array Technologies Inc. 0.10% 114,236 $674K No change
UNFI United Natural Foods Inc. 0.09% 28,736 $670K New
DCI Donaldson Co. Inc. 0.08% 8,576 $595K No change
ADSK Autodesk Inc. 0.08% 1,768 $547K Reduce -18.7%
HPE Hewlett Packard Enterprise 0.08% 26,459 $541K No change
ENPH Enphase Energy Inc. 0.08% 13,560 $538K Reduce -50.6%
MKC McCormick & Co.-Non VTG SHRS 0.08% 7,041 $534K New
OC Owens Corning 0.07% 3,803 $523K No change
HASI Ha Sustainable Infrastructur 0.07% 19,129 $514K No change
CSCO Cisco Systems Inc. 0.07% 7,214 $501K Reduce -82.1%
ONON On Holding AG Class A filed as ON HLDG AG 0.07% 9,244 $481K Reduce -20.0%
NEO Neogenomics Inc. 0.07% 64,935 $475K No change
GILD Gilead Sciences Inc. 0.06% 4,035 $447K Add +39.4%
DXCM Dexcom Inc. 0.06% 4,844 $423K Reduce -13.4%
VOYA Voya Financial Inc. 0.06% 5,871 $417K Add +38.4%
BCC Boise Cascade Co. 0.05% 4,042 $351K Reduce -42.9%
ADBE Adobe Inc. 0.05% 895 $346K Reduce -41.1%
CCK Crown Holdings Inc. 0.05% 3,288 $339K Reduce -3.6%
BDX Becton Dickinson and Co. 0.05% 1,902 $328K Reduce -11.5%
ALV Autoliv Inc. 0.05% 2,924 $327K Reduce -70.8%
NOVT Novanta Inc. 0.04% 2,261 $292K Reduce -62.3%
GO Grocery Outlet Holding Corp. 0.04% 22,040 $274K New
FLNC Fluence Energy Inc. 0.03% 33,936 $228K No change
EW Edwards Lifesciences Corp. 0.03% 2,909 $228K Add +154.5%
BMY Bristol-Myers Squibb Co. 0.03% 4,675 $216K Reduce -68.4%
A Agilent Technologies Inc. 0.03% 1,770 $209K Reduce -5.1%
GIS General Mills Inc. 0.03% 3,889 $201K Reduce -46.6%
WMS Advanced Drainage Systems Inc. 0.02% 965 $111K New
LKQ LKQ Corp. 0.01% 1,794 $66K Reduce -74.2%
SG Sweetgreen Inc. Class A 0.01% 3,718 $55K Reduce -81.9%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 0.01% 1,475 $46K No change
EMN Eastman Chemical Co. 0.00% 456 $34K Reduce -5.0%
SHOP Shopify Inc. Class A 0.00% 210 $24K Reduce -81.0%

Portfolio Sells Q1 2025 → Q2 2025
TMO Thermo Fisher Scientific Inc. Reduce -8.7% 7.91% −5.65
EXPO Exponent Inc. Reduce -47.4% 0.31% −0.51
BFAM Bright Horizons Family Solut Reduce -23.1% 0.72% −0.51
GM General Motors Co. Reduce -22.4% 0.72% −0.41
CSCO Cisco Systems Inc. Reduce -82.1% 0.07% −0.38
ENPH Enphase Energy Inc. Reduce -50.6% 0.08% −0.23
RUN Sunrun Inc. Reduce -29.4% 0.65% −0.19
VZ Verizon Communications Inc. Reduce -20.4% 0.28% −0.19
NEE Nextera Energy Inc. Reduce -5.5% 0.46% −0.17
CMG Chipotle Mexican Grill Inc. Reduce -15.5% 0.46% −0.16
BMY Bristol-Myers Squibb Co. Reduce -68.4% 0.03% −0.13
OMC Omnicom Group Sold out 0.00% −0.12
ALV Autoliv Inc. Reduce -70.8% 0.05% −0.11
KAI Kadant Inc. Sold out 0.00% −0.11
BSX Boston Scientific Corp. Reduce -9.6% 0.31% −0.10
NOVT Novanta Inc. Reduce -62.3% 0.04% −0.10
PFE Pfizer Inc. Reduce -5.3% 0.23% −0.10
SG Sweetgreen Inc. Class A Reduce -81.9% 0.01% −0.08
GEF Greif Inc. Class A Sold out 0.00% −0.08
OTIS Otis Worldwide Corp. Sold out 0.00% −0.08
BCC Boise Cascade Co. Reduce -42.9% 0.05% −0.08
ST Sensata Technologies Holdplc Sold out 0.00% −0.06
ADBE Adobe Inc. Reduce -41.1% 0.05% −0.06
MP MP Materials Corp. Reduce -28.4% 0.18% −0.05
AMT American Tower Corp. Sold out 0.00% −0.05
MRK Merck & Co. Inc. Sold out 0.00% −0.05
GIS General Mills Inc. Reduce -46.6% 0.03% −0.05
DHR Danaher Corp. Reduce -12.0% 0.10% −0.05
TT Trane Technologies PLC Reduce -7.4% 0.76% −0.05
LKQ LKQ Corp. Reduce -74.2% 0.01% −0.04
BDX Becton Dickinson and Co. Reduce -11.5% 0.05% −0.04
CSX CSX Corp. Sold out 0.00% −0.03
MPWR Monolithic Power Systems Inc. Reduce -9.8% 0.29% −0.03
CP Canadian Pacific Kansas City Sold out 0.00% −0.03
CNI Canadian Natl Railway Co. Sold out 0.00% −0.03
NSC Norfolk Southern Corp. Sold out 0.00% −0.03
SW Smurfit Westrock PLC Sold out 0.00% −0.03
ADSK Autodesk Inc. Reduce -18.7% 0.08% −0.03
AGCO Agco Corp. Reduce -1.7% 0.14% −0.02
ONON On Holding AG Class A Reduce -20.0% 0.07% −0.02
STLD Steel Dynamics Inc. Sold out 0.00% −0.02
AMGN Amgen Inc. Sold out 0.00% −0.02
RMD Resmed Inc. Sold out 0.00% −0.02
NUE Nucor Corp. Sold out 0.00% −0.02
SHOP Shopify Inc. Class A Reduce -81.0% 0.00% −0.02
DOV Dover Corp. Sold out 0.00% −0.01
BALL Ball Corp. Sold out 0.00% −0.01
WAT Waters Corp. Sold out 0.00% −0.01
DAR Darling Ingredients Inc. Sold out 0.00% −0.01
A Agilent Technologies Inc. Reduce -5.1% 0.03% −0.01

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. Add +11.7% 5.90% +1.28
MSFT Microsoft Corp. Add +15.5% 5.50% +0.92
TRMB Trimble Inc. Add +70.9% 2.51% +0.89
CDNS Cadence Design SYS Inc. Add +132.1% 1.50% +0.82
BMI Badger Meter Inc. Add +92.6% 1.67% +0.81
BSY Bentley Systems Inc. Class B Add +51.4% 2.02% +0.78
XYL Xylem Inc. Add +67.3% 2.63% +0.78
PNR Pentair PLC Add +227.1% 1.13% +0.75
SFM Sprouts Farmers Market Inc. Add +135.8% 1.39% +0.69
EMR Emerson Electric Co. Add +117.3% 1.11% +0.57
FSLR First Solar Inc. Add +91.9% 1.13% +0.56
EBAY eBay Inc. Add +65.9% 1.56% +0.47
ZTS Zoetis Inc. Add +102.3% 1.39% +0.47
CL Colgate-Palmolive Co. Add +81.3% 1.68% +0.46
AVY Avery Dennison Corp. Add +162.8% 0.90% +0.46
ITRI Itron Inc. Add +142.8% 0.74% +0.43
IEX Idex Corp. Add +96.1% 1.23% +0.41
WTS Watts Water Technologies-A Add +209.5% 0.59% +0.39
HUBB Hubbell Inc. New 0.29% +0.29
ABT Abbott Laboratories New 0.24% +0.24
VITL Vital Farms Inc. Add +262.9% 0.32% +0.23
MDT Medtronic PLC New 0.20% +0.20
PTC PTC Inc. Add +144.9% 0.38% +0.20
PANW Palo Alto Networks Inc. Add +36.4% 0.88% +0.20
GPK Graphic Packaging Holding Co. Add +99.2% 0.89% +0.19
PL Planet Labs PBC Add +206.5% 0.23% +0.18
AWK American Water Works Co. Inc. Add +45.3% 2.27% +0.16
VLTO Veralto Corp. Add +65.3% 0.60% +0.15
TJX TJX Companies Inc. Add +79.8% 0.49% +0.15
VRT Vertiv Holdings Co. Class A Add +50.0% 0.27% +0.14
PWR Quanta Services Inc. Add +6.6% 0.72% +0.14
NFLX Netflix Inc. Add +111.4% 0.21% +0.12
ROP Roper Technologies Inc. Add +53.5% 0.82% +0.11
TTEK Tetra Tech Inc. Add +19.8% 0.73% +0.10
UNFI United Natural Foods Inc. New 0.09% +0.09
MTD Mettler-Toledo International Add +54.1% 0.47% +0.08
MKC McCormick & Co.-Non VTG SHRS New 0.08% +0.08
EMBC Embecta Corp. Add +254.2% 0.14% +0.07
NOW ServiceNow Inc. Add +6.4% 0.92% +0.07
LIN Linde PLC Add +33.0% 1.21% +0.06
ISRG Intuitive Surgical Inc. Add +21.4% 1.33% +0.06
ENS Enersys Add +46.9% 0.77% +0.06
GO Grocery Outlet Holding Corp. New 0.04% +0.04
CNM Core & Main Inc. Class A Add +11.9% 0.31% +0.03
TREX Trex Company Inc. Add +50.5% 0.28% +0.03
EL Estee Lauder Companies Class A Add +7.2% 0.65% +0.02
EW Edwards Lifesciences Corp. Add +154.5% 0.03% +0.02
WMS Advanced Drainage Systems Inc. New 0.02% +0.02
AXP American Express Co. Add +8.1% 2.23% +0.01
VOYA Voya Financial Inc. Add +38.4% 0.06% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 185$2.7BNVDA, CDNS, MSFT, AVGO, GOOGL
Q1 2026 179$2.5BNVDA, MSFT, CDNS, NOW, SNPS
Q4 2025 92$693.5MNVDA, MSFT, ECL, ACN, FSLR
Q3 2025 111$707.4MNVDA, MSFT, ECL, ACN, FSLR
Q2 2025 119$708.8MTMO, ECL, NVDA, MSFT, ACN
Q1 2025 134$555.9MTMO, ECL, ACN, NVDA, MSFT
Q4 2024 129$579.5MTMO, ACN, ECL, NVDA, MSFT
Q3 2024 120$578.7MTMO, ACN, ECL, NVDA, MSFT
Q2 2024 123$547.3MTMO, ACN, ECL, NVDA, MSFT
Q1 2024 135$564.5MTMO, ACN, ECL, NVDA, MSFT