Towarzystwo Funduszy Inwestycyjnych Pzu SA
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed August 14, 2025), Towarzystwo Funduszy Inwestycyjnych Pzu SA reported 572 stock positions worth $236.1 million. Its top holding was Nvidia (NVDA) at 11.7% of the portfolio, followed by Microsoft (MSFT, 9.5%) and Advanced Micro Devices (AMD, 8.2%). Compared with Q4 2023, it opened 17 new positions, sold out of 2, added to 141 and reduced 33. The biggest buy was Cloudflare Class A (NET, shares +1112%) and the biggest sale Alphabet Class A (GOOGL, shares −37%).
- Most Recent 13F
- Q2 2026
- Location
- WARSAW, R9
- CIK
- 0002071170
- Portfolio Value
- $236.1M (Q1 2024)
- SEC Filing
- 0002071170-25-000025 ↗ filed Aug 14, 2025
Holdings Value
Holdings 572 stocks · $236.1M
| NVDA Nvidia Corp. | 11.68% | 30,510 | $27.6M | Reduce -21.4% |
| MSFT Microsoft Corp. | 9.54% | 53,517 | $22.5M | Add +1.9% |
| AMD Advanced Micro Devices | 8.19% | 107,070 | $19.3M | Reduce -19.8% |
| PANW Palo Alto Networks Inc. | 6.34% | 52,710 | $15.0M | Add +0.9% |
| NKE Nike Inc. Class B | 4.40% | 110,542 | $10.4M | Add +0.1% |
| DXCM Dexcom Inc. | 4.26% | 72,554 | $10.1M | Add +6.0% |
| GOOGL Alphabet Inc. Class A | 4.02% | 62,840 | $9.5M | Reduce -36.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 3.33% | 77,450 | $7.9M | Add +0.9% |
| AAPL Apple Inc. | 2.96% | 40,756 | $7.0M | Add +8.6% |
| ADBE Adobe Inc. | 1.93% | 9,023 | $4.6M | Add +26.4% |
| NET Cloudflare Inc. Class A | 1.93% | 47,020 | $4.6M | Add +1111.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 1.87% | 13,747 | $4.4M | Add +142.2% |
| LULU Lululemon Athletica Inc. | 1.72% | 10,390 | $4.1M | Reduce -0.3% |
| AMZN Amazon.com Inc. | 1.51% | 19,770 | $3.6M | Add +9.6% |
| ABBV Abbvie Inc. | 1.15% | 14,850 | $2.7M | Add +2.7% |
| LLY Eli Lilly & Co. | 1.12% | 3,387 | $2.6M | Reduce -1.7% |
| ZS Zscaler Inc. | 0.89% | 10,958 | $2.1M | Add +2448.4% |
| B Barrick Gold Corp. | 0.89% | 125,651 | $2.1M | Reduce -4.2% |
| NEM Newmont Corp. | 0.82% | 54,045 | $1.9M | Add +16.9% |
| AMGN Amgen Inc. | 0.78% | 6,507 | $1.9M | Add +59.1% |
| UNH Unitedhealth Group Inc. | 0.71% | 3,397 | $1.7M | Reduce -11.4% |
| ISRG Intuitive Surgical Inc. | 0.70% | 4,135 | $1.7M | Reduce -21.9% |
| AZN Astrazeneca PLC-Spons ADR | 0.66% | 22,871 | $1.5M | Reduce -6.5% |
| MRK Merck & Co. Inc. | 0.60% | 10,670 | $1.4M | Add +1.7% |
| JNJ Johnson & Johnson | 0.59% | 8,788 | $1.4M | Reduce -5.3% |
| AVGO Broadcom Inc. | 0.56% | 1,003 | $1.3M | Add +7.0% |
| CRM Salesforce Inc. | 0.55% | 4,340 | $1.3M | Reduce -12.6% |
| EQIX Equinix Inc. | 0.50% | 1,435 | $1.2M | Reduce -12.5% |
| MRVL Marvell Technology Inc. | 0.48% | 15,970 | $1.1M | Add +937.0% |
| DHR Danaher Corp. | 0.47% | 4,410 | $1.1M | Reduce -2.8% |
| VRTX Vertex Pharmaceuticals Inc. | 0.46% | 2,580 | $1.1M | Add +2.4% |
| XOM Exxon Mobil Corp. | 0.45% | 9,050 | $1.1M | Add +3.0% |
| MU Micron Technology Inc. | 0.44% | 8,835 | $1.0M | Reduce -67.8% |
| TMO Thermo Fisher Scientific Inc. | 0.44% | 1,775 | $1.0M | Reduce -1.3% |
| ABT Abbott Laboratories | 0.42% | 8,790 | $999K | Reduce -5.9% |
| FSLR First Solar Inc. | 0.41% | 5,700 | $962K | Add +19.8% |
| META Meta Platforms Inc. Class A | 0.33% | 1,615 | $784K | Add +6.9% |
| XYL Xylem Inc. | 0.33% | 5,965 | $771K | Add +15.7% |
| V Visa Inc. Class A | 0.32% | 2,693 | $752K | No change |
| BSX Boston Scientific Corp. | 0.32% | 10,964 | $751K | Reduce -5.4% |
| MA Mastercard Inc. Class A | 0.29% | 1,440 | $693K | Add +2.9% |
| NFLX Netflix Inc. | 0.29% | 1,125 | $683K | No change |
| GILD Gilead Sciences Inc. | 0.29% | 9,272 | $679K | Add +3.3% |
| AEM Agnico Eagle Mines Ltd. | 0.29% | 11,324 | $675K | Add +0.7% |
| CVX Chevron Corp. | 0.28% | 4,266 | $673K | Add +8.7% |
| ELV Elevance Health Inc. | 0.28% | 1,253 | $650K | No change |
| ARRY Array Technologies Inc. | 0.24% | 38,665 | $576K | No change |
| PFE Pfizer Inc. | 0.24% | 20,407 | $566K | Reduce -3.9% |
| GOOG Alphabet Inc. Class C | 0.24% | 3,645 | $555K | Add +6.4% |
| CVS CVS Health Corp. | 0.23% | 6,893 | $550K | Reduce -9.5% |
| HCA HCA Healthcare Inc. | 0.23% | 1,638 | $546K | Add +4.5% |
| TSLA Tesla Inc. | 0.23% | 3,028 | $532K | Reduce -26.3% |
| ACN Accenture PLC Class A | 0.21% | 1,450 | $503K | Add +16.0% |
| CI The Cigna Group | 0.20% | 1,306 | $474K | Reduce -14.1% |
| SYK Stryker Corp. | 0.20% | 1,300 | $465K | No change |
| CSCO Cisco Systems Inc. | 0.19% | 9,140 | $456K | Add +13.0% |
| JPM JPMorgan Chase & Co. | 0.19% | 2,210 | $443K | Add +12.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.18% | 985 | $414K | Add +11.3% |
| MBLY Mobileye Global Inc. Class A | 0.17% | 12,785 | $411K | Add +4.3% |
| ENPH Enphase Energy Inc. | 0.17% | 3,240 | $392K | Add +7.3% |
| MDT Medtronic PLC | 0.17% | 4,490 | $391K | Add +0.3% |
| INTC Intel Corp. | 0.16% | 8,720 | $385K | Reduce -3.4% |
| REGN Regeneron Pharmaceuticals | 0.16% | 400 | $385K | Add +14.9% |
| TXN Texas Instruments Inc. | 0.16% | 2,150 | $375K | Add +15.6% |
| COP Conocophillips | 0.16% | 2,920 | $372K | Add +6.6% |
| BDX Becton Dickinson and Co. | 0.15% | 1,450 | $359K | No change |
| MRNA Moderna Inc. | 0.14% | 3,115 | $332K | Add +6.9% |
| LIN Linde PLC | 0.14% | 700 | $325K | Add +68.7% |
| PLD Prologis Inc. | 0.14% | 2,487 | $324K | Add +8.8% |
| AXON Axon Enterprise Inc. | 0.13% | 995 | $311K | Reduce -56.6% |
| MSI Motorola Solutions Inc. | 0.13% | 870 | $309K | Add +10.1% |
| FTNT Fortinet Inc. | 0.13% | 4,450 | $304K | Add +9.9% |
| ADSK Autodesk Inc. | 0.13% | 1,160 | $302K | Add +18.4% |
| HOLX Hologic Inc. | 0.13% | 3,848 | $300K | No change |
| RTX RTX Corp. | 0.12% | 2,999 | $292K | Add +11.1% |
| DE Deere & Co. | 0.12% | 698 | $287K | Reduce -93.7% |
| PG The Procter & Gamble Co. | 0.12% | 1,767 | $287K | Add +9.3% |
| ORCL Oracle Corp. | 0.12% | 2,260 | $284K | Add +23.5% |
| HD Home Depot Inc. | 0.11% | 694 | $266K | No change |
| A Agilent Technologies Inc. | 0.11% | 1,815 | $264K | No change |
| WM Waste Management Inc. | 0.11% | 1,219 | $260K | Add +38.7% |
| LMT Lockheed Martin Corp. | 0.11% | 560 | $255K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.11% | 1,330 | $254K | Add +22.0% |
| QCOM Qualcomm Inc. | 0.11% | 1,490 | $252K | Add +15.5% |
| JAZZ Jazz Pharmaceuticals PLC | 0.11% | 2,090 | $252K | No change |
| CHKP Check Point Software Tech | 0.11% | 1,530 | $251K | Add +11.7% |
| AMT American Tower Corp. | 0.10% | 1,255 | $248K | No change |
| COST Costco Wholesale Corp. | 0.10% | 335 | $245K | Add +8.1% |
| WPM Wheaton Precious Metals Corp. | 0.10% | 5,130 | $242K | No change |
| IDXX Idexx Laboratories Inc. | 0.10% | 445 | $240K | No change |
| ECL Ecolab Inc. | 0.10% | 1,040 | $240K | No change |
| NBIX Neurocrine Biosciences Inc. | 0.10% | 1,740 | $240K | No change |
| IQV Iqvia Holdings Inc. | 0.10% | 940 | $238K | No change |
| INTU Intuit Inc. | 0.10% | 365 | $237K | Add +10.6% |
| CNC Centene Corp. | 0.10% | 3,017 | $237K | Add +9.0% |
| DDOG Datadog Inc. Class A | 0.10% | 1,910 | $236K | Add +11.1% |
| FERG Ferguson Jersey Ltd. | 0.10% | 1,070 | $234K | No change |
| BA The Boeing Co. | 0.10% | 1,190 | $230K | No change |
| EA Electronic Arts Inc. | 0.10% | 1,730 | $230K | Add +10.2% |
| ANSS Ansys Inc. | 0.10% | 650 | $226K | Add +12.1% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $3K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 70 | $3K | No change |
Total filed on the 13F, all lines: $236.1M.
Portfolio Sells Q4 2023 → Q1 2024
| GOOGL Alphabet Inc. Class A | Reduce -36.8% | 4.02% | −2.35 |
| DE Deere & Co. | Reduce -93.7% | 0.12% | −1.89 |
| AMD Advanced Micro Devices | Reduce -19.8% | 8.19% | −0.85 |
| LULU Lululemon Athletica Inc. | Reduce -0.3% | 1.72% | −0.73 |
| MU Micron Technology Inc. | Reduce -67.8% | 0.44% | −0.63 |
| TSLA Tesla Inc. | Reduce -26.3% | 0.23% | −0.24 |
| UNH Unitedhealth Group Inc. | Reduce -11.4% | 0.71% | −0.21 |
| B Barrick Gold Corp. | Reduce -4.2% | 0.89% | −0.20 |
| AXON Axon Enterprise Inc. | Reduce -56.6% | 0.13% | −0.14 |
| ISRG Intuitive Surgical Inc. | Reduce -21.9% | 0.70% | −0.12 |
| EQIX Equinix Inc. | Reduce -12.5% | 0.50% | −0.10 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -6.5% | 0.66% | −0.10 |
| JNJ Johnson & Johnson | Reduce -5.3% | 0.59% | −0.08 |
| ABT Abbott Laboratories | Reduce -5.9% | 0.42% | −0.05 |
| SPLK Splunk Inc. | Sold out | 0.00% | −0.05 |
| CRM Salesforce Inc. | Reduce -12.6% | 0.55% | −0.05 |
| INTC Intel Corp. | Reduce -3.4% | 0.16% | −0.04 |
| CVS CVS Health Corp. | Reduce -9.5% | 0.23% | −0.04 |
| PFE Pfizer Inc. | Reduce -3.9% | 0.24% | −0.04 |
| ROK Rockwell Automation Inc. | Reduce -94.8% | 0.00% | −0.03 |
| BMY Bristol-Myers Squibb Co. | Reduce -40.3% | 0.03% | −0.02 |
| GFI Gold Fields Ltd.-Spons ADR | Reduce -16.1% | 0.09% | −0.02 |
| DHR Danaher Corp. | Reduce -2.8% | 0.47% | −0.01 |
| BVN Cia DE Minas Buenaventur-ADR | Reduce -22.5% | 0.04% | −0.01 |
| TTEK Tetra Tech Inc. | Reduce -37.8% | 0.02% | −0.01 |
| BNY Bank of New York Mellon Corp. | Reduce -36.4% | 0.02% | −0.01 |
| CLF Cleveland-Cliffs Inc. | Reduce -64.3% | 0.00% | −0.01 |
| CI The Cigna Group | Reduce -14.1% | 0.20% | −0.01 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.3% | 0.44% | −0.00 |
| TT Trane Technologies PLC | Reduce -13.8% | 0.03% | −0.00 |
| EVVAQ Enviva LLC | Sold out | 0.00% | −0.00 |
| AVAV Aerovironment Inc. | Reduce -10.7% | 0.02% | 0.00 |
| BSX Boston Scientific Corp. | Reduce -5.4% | 0.32% | +0.01 |
| LLY Eli Lilly & Co. | Reduce -1.7% | 1.12% | +0.19 |
| NVDA Nvidia Corp. | Reduce -21.4% | 11.68% | +2.86 |
Portfolio Buys Q4 2023 → Q1 2024
| NET Cloudflare Inc. Class A | Add +1111.9% | 1.93% | +1.78 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +142.2% | 1.87% | +1.20 |
| ZS Zscaler Inc. | Add +2448.4% | 0.89% | +0.85 |
| MSFT Microsoft Corp. | Add +1.9% | 9.54% | +0.48 |
| MRVL Marvell Technology Inc. | Add +937.0% | 0.48% | +0.44 |
| DXCM Dexcom Inc. | Add +6.0% | 4.26% | +0.36 |
| AMZN Amazon.com Inc. | Add +9.6% | 1.51% | +0.25 |
| AMGN Amgen Inc. | Add +59.1% | 0.78% | +0.24 |
| ABBV Abbvie Inc. | Add +2.7% | 1.15% | +0.12 |
| META Meta Platforms Inc. Class A | Add +6.9% | 0.33% | +0.09 |
| AVGO Broadcom Inc. | Add +7.0% | 0.56% | +0.08 |
| MRK Merck & Co. Inc. | Add +1.7% | 0.60% | +0.07 |
| LIN Linde PLC | Add +68.7% | 0.14% | +0.06 |
| XYL Xylem Inc. | Add +15.7% | 0.33% | +0.06 |
| XOM Exxon Mobil Corp. | Add +3.0% | 0.45% | +0.04 |
| WM Waste Management Inc. | Add +38.7% | 0.11% | +0.04 |
| HCA HCA Healthcare Inc. | Add +4.5% | 0.23% | +0.04 |
| GE General Electric | Add +44.4% | 0.08% | +0.04 |
| JPM JPMorgan Chase & Co. | Add +12.5% | 0.19% | +0.03 |
| CNM Core & Main Inc. Class A | New | 0.03% | +0.03 |
| ORCL Oracle Corp. | Add +23.5% | 0.12% | +0.03 |
| FSLR First Solar Inc. | Add +19.8% | 0.41% | +0.03 |
| AU Anglogold Ashanti PLC | Add +38.6% | 0.09% | +0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +11.3% | 0.18% | +0.03 |
| TTWO Take-Two Interactive Softwre | New | 0.03% | +0.03 |
| IBM Intl Business Machines Corp. | Add +22.0% | 0.11% | +0.03 |
| HMY Harmony Gold MNG-Spon ADR | Add +38.5% | 0.06% | +0.03 |
| AXP American Express Co. | Add +58.7% | 0.06% | +0.03 |
| AMAT Applied Materials Inc. | Add +15.9% | 0.10% | +0.03 |
| TJX TJX Companies Inc. | Add +0.9% | 3.33% | +0.02 |
| REGN Regeneron Pharmaceuticals | Add +14.9% | 0.16% | +0.02 |
| MAR Marriott International Class A | Add +35.9% | 0.07% | +0.02 |
| SMCI Super Micro Computer Inc. | New | 0.02% | +0.02 |
| QCOM Qualcomm Inc. | Add +15.5% | 0.11% | +0.02 |
| CB Chubb Ltd. | Add +78.3% | 0.04% | +0.02 |
| FTNT Fortinet Inc. | Add +9.9% | 0.13% | +0.02 |
| MA Mastercard Inc. Class A | Add +2.9% | 0.29% | +0.02 |
| RTX RTX Corp. | Add +11.1% | 0.12% | +0.02 |
| ADSK Autodesk Inc. | Add +18.4% | 0.13% | +0.02 |
| WELL Welltower Inc. | Add +44.1% | 0.07% | +0.02 |
| VZ Verizon Communications Inc. | Add +36.4% | 0.06% | +0.02 |
| MSI Motorola Solutions Inc. | Add +10.1% | 0.13% | +0.02 |
| ETN Eaton Corp. PLC | Add +26.7% | 0.05% | +0.02 |
| CYBR Cyberark Software Ltd./Israel | Add +20.8% | 0.07% | +0.02 |
| OKTA Okta Inc. | Add +24.2% | 0.07% | +0.02 |
| CVX Chevron Corp. | Add +8.7% | 0.28% | +0.02 |
| DELL Dell Technologies -C | Add +620.0% | 0.02% | +0.02 |
| UBER Uber Technologies Inc. | Add +19.0% | 0.06% | +0.02 |
| GRMN Garmin Ltd. | Add +14.2% | 0.09% | +0.02 |
| CDE Coeur Mining Inc. | Add +81.8% | 0.03% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 690 | $354.8M | NVDA, SOXX, MSFT, AAPL, ONON |
| Q1 2026 | 687 | $297.7M | NVDA, CVX, MSFT, AAPL, ONON |
| Q4 2025 | 682 | $397.2M | NVDA, MSFT, META, ONON, AMZN |
| Q3 2025 | 662 | $422.0M | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q2 2025 | 658 | $355.6M | MSFT, NVDA, AMZN, AAPL, ISRG |
| Q1 2025 | 654 | $293.3M | MSFT, NVDA, AAPL, AMZN, ISRG |
| Q4 2024 | 627 | $303.0M | MSFT, NVDA, AAPL, AMZN, ISRG |
| Q3 2024 | 582 | $275.1M | MSFT, NVDA, AMD, AAPL, ISRG |
| Q2 2024 | 564 | $267.9M | NVDA, MSFT, AMD, ISRG, GOOGL |
| Q1 2024 | 572 | $236.1M | NVDA, MSFT, AMD, PANW, NKE |