Towarzystwo Funduszy Inwestycyjnych Pzu SA

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2025), Towarzystwo Funduszy Inwestycyjnych Pzu SA reported 564 stock positions worth $267.9 million. Its top holding was Nvidia (NVDA) at 14.0% of the portfolio, followed by Microsoft (MSFT, 10.5%) and Advanced Micro Devices (AMD, 6.3%). Compared with Q1 2024, it opened 13 new positions, sold out of 24, added to 106 and reduced 73. The biggest buy was Intuitive Surgical (ISRG, shares +535%) and the biggest sale Palo Alto Networks (PANW, shares −55%).

Most Recent 13F
Q2 2026
Location
WARSAW, R9
CIK
0002071170
Portfolio Value
$267.9M (Q2 2024)
SEC Filing
0002071170-25-000017 ↗ filed Aug 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $236.1M Q1 2024 Q2 2024: $267.9M $267.9M Q2 2024 Q3 2024: $275.1M Q3 2024 Q4 2024: $303.0M Q4 2024 Q1 2025: $293.3M Q1 2025 Q2 2025: $355.6M Q2 2025 Q3 2025: $422.0M Q3 2025 Q4 2025: $397.2M Q4 2025 Q1 2026: $297.7M Q1 2026 Q2 2026: $354.8M Q2 2026

Holdings 564 stocks · $267.9M
NVDA Nvidia Corp. 14.00% 303,706 $37.5M Reduce -0.5%
MSFT Microsoft Corp. 10.46% 62,702 $28.0M Add +17.2%
AMD Advanced Micro Devices 6.31% 104,161 $16.9M Reduce -2.7%
ISRG Intuitive Surgical Inc. 4.36% 26,262 $11.7M Add +535.1%
GOOGL Alphabet Inc. Class A 4.29% 63,085 $11.5M Add +0.4%
DXCM Dexcom Inc. 3.82% 90,169 $10.2M Add +24.3%
NKE Nike Inc. Class B 3.81% 135,420 $10.2M Add +22.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 3.61% 87,743 $9.7M Add +13.3%
AAPL Apple Inc. 3.28% 41,661 $8.8M Add +2.2%
PANW Palo Alto Networks Inc. 2.99% 23,619 $8.0M Reduce -55.2%
ADBE Adobe Inc. 2.69% 12,977 $7.2M Add +43.8%
NET Cloudflare Inc. Class A 2.17% 70,330 $5.8M Add +49.6%
MU Micron Technology Inc. 1.81% 36,804 $4.8M Add +316.6%
CRWD CrowdStrike Holdings Inc. Class A 1.53% 10,691 $4.1M Reduce -22.2%
AMZN Amazon.com Inc. 1.45% 20,100 $3.9M Add +1.7%
LULU Lululemon Athletica Inc. 1.40% 12,590 $3.8M Add +21.2%
LLY Eli Lilly & Co. 1.11% 3,297 $3.0M Reduce -2.7%
ABBV Abbvie Inc. 0.96% 14,945 $2.6M Add +0.6%
NEM Newmont Corp. 0.88% 56,045 $2.3M Add +3.7%
MRVL Marvell Technology Inc. 0.82% 31,543 $2.2M Add +97.5%
B Barrick Gold Corp. 0.78% 126,051 $2.1M Add +0.3%
AMGN Amgen Inc. 0.75% 6,432 $2.0M Reduce -1.1%
UNH Unitedhealth Group Inc. 0.65% 3,397 $1.7M No change
AZN Astrazeneca PLC-Spons ADR 0.64% 22,051 $1.7M Reduce -3.6%
AXON Axon Enterprise Inc. 0.59% 5,370 $1.6M Add +439.7%
AVGO Broadcom Inc. 0.54% 900 $1.4M Reduce -10.3%
FSLR First Solar Inc. 0.48% 5,730 $1.3M Add +0.5%
JNJ Johnson & Johnson 0.48% 8,788 $1.3M No change
XOM Exxon Mobil Corp. 0.47% 11,027 $1.3M Add +21.9%
MRK Merck & Co. Inc. 0.47% 10,130 $1.3M Reduce -5.1%
CRM Salesforce Inc. 0.46% 4,842 $1.2M Add +11.6%
VRTX Vertex Pharmaceuticals Inc. 0.44% 2,530 $1.2M Reduce -1.9%
EQIX Equinix Inc. 0.41% 1,460 $1.1M Add +1.7%
DHR Danaher Corp. 0.41% 4,390 $1.1M Reduce -0.5%
CCJ Cameco Corp. 0.38% 20,610 $1.0M Add +2844.3%
META Meta Platforms Inc. Class A 0.35% 1,860 $938K Add +15.2%
TMO Thermo Fisher Scientific Inc. 0.35% 1,685 $932K Reduce -5.1%
ZS Zscaler Inc. 0.33% 4,653 $894K Reduce -57.5%
ABT Abbott Laboratories 0.33% 8,590 $893K Reduce -2.3%
BSX Boston Scientific Corp. 0.31% 10,689 $823K Reduce -2.5%
AEM Agnico Eagle Mines Ltd. 0.29% 11,796 $770K Add +4.2%
NFLX Netflix Inc. 0.28% 1,125 $759K No change
CSCO Cisco Systems Inc. 0.27% 15,290 $726K Add +67.3%
V Visa Inc. Class A 0.27% 2,763 $725K Add +2.6%
GOOG Alphabet Inc. Class C 0.26% 3,810 $699K Add +4.5%
CVX Chevron Corp. 0.25% 4,266 $667K No change
ELV Elevance Health Inc. 0.25% 1,213 $657K Reduce -3.2%
MA Mastercard Inc. Class A 0.24% 1,485 $655K Add +3.1%
XYL Xylem Inc. 0.24% 4,705 $638K Reduce -21.1%
GILD Gilead Sciences Inc. 0.24% 9,272 $636K No change
PFE Pfizer Inc. 0.21% 20,407 $571K No change
HCA HCA Healthcare Inc. 0.20% 1,638 $526K No change
ACN Accenture PLC Class A 0.17% 1,540 $467K Add +6.2%
JPM JPMorgan Chase & Co. 0.17% 2,210 $447K No change
TXN Texas Instruments Inc. 0.17% 2,280 $444K Add +6.0%
TSLA Tesla Inc. 0.16% 2,200 $435K Reduce -27.3%
CI The Cigna Group 0.16% 1,316 $435K Add +0.8%
CVS CVS Health Corp. 0.16% 7,153 $422K Add +3.8%
SYK Stryker Corp. 0.15% 1,210 $412K Reduce -6.9%
REGN Regeneron Pharmaceuticals 0.15% 390 $410K Reduce -2.5%
BRK.B Berkshire Hathaway Inc. Class B 0.15% 985 $401K No change
ARRY Array Technologies Inc. 0.15% 38,665 $397K No change
MRNA Moderna Inc. 0.14% 3,115 $370K No change
ORCL Oracle Corp. 0.13% 2,530 $357K Add +11.9%
MDT Medtronic PLC 0.13% 4,490 $353K No change
BDX Becton Dickinson and Co. 0.13% 1,450 $339K No change
COP Conocophillips 0.12% 2,880 $329K Reduce -1.4%
ENPH Enphase Energy Inc. 0.12% 3,240 $323K No change
INTC Intel Corp. 0.12% 10,420 $323K Add +19.5%
QCOM Qualcomm Inc. 0.12% 1,620 $323K Add +8.7%
SNPS Synopsys Inc. 0.11% 515 $306K Add +119.2%
MSI Motorola Solutions Inc. 0.11% 790 $305K Reduce -9.2%
RTX RTX Corp. 0.11% 2,999 $301K No change
PG The Procter & Gamble Co. 0.11% 1,767 $291K No change
COST Costco Wholesale Corp. 0.11% 335 $285K No change
ADSK Autodesk Inc. 0.11% 1,150 $285K Reduce -0.9%
KGC Kinross Gold Corp. 0.11% 34,000 $282K Add +4.3%
PLD Prologis Inc. 0.10% 2,487 $279K No change
HD Home Depot Inc. 0.10% 810 $279K Add +16.7%
AMT American Tower Corp. 0.10% 1,395 $271K Add +11.2%
WPM Wheaton Precious Metals Corp. 0.10% 5,128 $268K Reduce -0.0%
INTU Intuit Inc. 0.10% 405 $266K Add +11.0%
WM Waste Management Inc. 0.10% 1,229 $262K Add +0.8%
DE Deere & Co. 0.10% 698 $261K No change
AMAT Applied Materials Inc. 0.10% 1,088 $257K Reduce -0.5%
HOLX Hologic Inc. 0.10% 3,458 $257K Reduce -10.1%
NXPI NXP Semiconductors NV 0.10% 950 $256K Add +156.8%
DDOG Datadog Inc. Class A 0.09% 1,960 $254K Add +2.6%
AU Anglogold Ashanti PLC 0.09% 10,100 $254K Add +4.1%
CHKP Check Point Software Tech 0.09% 1,530 $252K No change
RSG Republic Services Inc. 0.09% 1,260 $245K Add +950.0%
FTNT Fortinet Inc. 0.09% 4,000 $241K Reduce -10.1%
EA Electronic Arts Inc. 0.09% 1,730 $241K No change
NBIX Neurocrine Biosciences Inc. 0.09% 1,740 $240K No change
LMT Lockheed Martin Corp. 0.09% 510 $238K Reduce -8.9%
JAZZ Jazz Pharmaceuticals PLC 0.09% 2,220 $237K Add +6.2%
A Agilent Technologies Inc. 0.09% 1,815 $235K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.09% 1,330 $230K No change
TEVA Teva Pharmaceutical-SP ADR 0.09% 14,100 $229K No change
WMT Walmart Inc. 0.08% 3,354 $227K No change

Show all 564 holdings

Portfolio Sells Q1 2024 → Q2 2024
PANW Palo Alto Networks Inc. Reduce -55.2% 2.99% −3.36
AMD Advanced Micro Devices Reduce -2.7% 6.31% −1.88
ZS Zscaler Inc. Reduce -57.5% 0.33% −0.56
CRWD CrowdStrike Holdings Inc. Class A Reduce -22.2% 1.53% −0.34
MBLY Mobileye Global Inc. Class A Sold out 0.00% −0.17
MRK Merck & Co. Inc. Reduce -5.1% 0.47% −0.13
ABT Abbott Laboratories Reduce -2.3% 0.33% −0.09
TMO Thermo Fisher Scientific Inc. Reduce -5.1% 0.35% −0.09
XYL Xylem Inc. Reduce -21.1% 0.24% −0.09
ECL Ecolab Inc. Reduce -76.9% 0.02% −0.08
LIN Linde PLC Reduce -40.7% 0.07% −0.07
PXD Pioneer Natural Resources Co. Sold out 0.00% −0.07
TSLA Tesla Inc. Reduce -27.3% 0.16% −0.06
DHR Danaher Corp. Reduce -0.5% 0.41% −0.06
SYK Stryker Corp. Reduce -6.9% 0.15% −0.04
FTNT Fortinet Inc. Reduce -10.1% 0.09% −0.04
COP Conocophillips Reduce -1.4% 0.12% −0.03
ONTO Onto Innovation Inc. Sold out 0.00% −0.03
AMGN Amgen Inc. Reduce -1.1% 0.75% −0.03
HOLX Hologic Inc. Reduce -10.1% 0.10% −0.03
GIS General Mills Inc. Reduce -64.3% 0.01% −0.03
ELV Elevance Health Inc. Reduce -3.2% 0.25% −0.03
IDXX Idexx Laboratories Inc. Reduce -11.2% 0.07% −0.03
TXT Textron Inc. Reduce -21.1% 0.05% −0.03
AKAM Akamai Technologies Inc. Reduce -22.6% 0.03% −0.03
AVGO Broadcom Inc. Reduce -10.3% 0.54% −0.02
TGT Target Corp. Reduce -45.3% 0.02% −0.02
ADSK Autodesk Inc. Reduce -0.9% 0.11% −0.02
HSY The Hershey Co. Reduce -57.5% 0.01% −0.02
GRMN Garmin Ltd. Reduce -21.9% 0.07% −0.02
BMRN Biomarin Pharmaceutical Inc. Reduce -18.2% 0.04% −0.02
GE General Electric Reduce -7.7% 0.06% −0.02
OKTA Okta Inc. Reduce -11.0% 0.05% −0.02
LMT Lockheed Martin Corp. Reduce -8.9% 0.09% −0.02
ANSS Ansys Inc. Reduce -1.5% 0.08% −0.02
QLYS Qualys Inc. Reduce -51.2% 0.01% −0.02
KDP Keurig Dr Pepper Inc. Sold out 0.00% −0.02
MSI Motorola Solutions Inc. Reduce -9.2% 0.11% −0.02
GGG Graco Inc. Reduce -18.2% 0.03% −0.02
HEI.A Heico Corp. Class A Reduce -39.1% 0.03% −0.02
RPD RAPID7 Inc. Reduce -72.9% 0.00% −0.02
AXP American Express Co. Reduce -18.3% 0.04% −0.02
HXL Hexcel Corp. Sold out 0.00% −0.02
ANET Arista Networks Inc. Reduce -31.8% 0.04% −0.01
AZN Astrazeneca PLC-Spons ADR Reduce -3.6% 0.64% −0.01
EGO Eldorado Gold Corp. Reduce -26.3% 0.03% −0.01
PODD Insulet Corp. Sold out 0.00% −0.01
VRTX Vertex Pharmaceuticals Inc. Reduce -1.9% 0.44% −0.01
CW Curtiss-Wright Corp. Sold out 0.00% −0.01
PNR Pentair PLC Reduce -11.0% 0.03% −0.01

Portfolio Buys Q1 2024 → Q2 2024
ISRG Intuitive Surgical Inc. Add +535.1% 4.36% +3.66
MU Micron Technology Inc. Add +316.6% 1.81% +1.37
MSFT Microsoft Corp. Add +17.2% 10.46% +0.92
ADBE Adobe Inc. Add +43.8% 2.69% +0.76
AXON Axon Enterprise Inc. Add +439.7% 0.59% +0.46
CCJ Cameco Corp. Add +2844.3% 0.38% +0.36
MRVL Marvell Technology Inc. Add +97.5% 0.82% +0.34
AAPL Apple Inc. Add +2.2% 3.28% +0.31
TJX TJX Companies Inc. Add +13.3% 3.61% +0.28
GOOGL Alphabet Inc. Class A Add +0.4% 4.29% +0.27
NET Cloudflare Inc. Class A Add +49.6% 2.17% +0.25
RSG Republic Services Inc. Add +950.0% 0.09% +0.08
CSCO Cisco Systems Inc. Add +67.3% 0.27% +0.08
FSLR First Solar Inc. Add +0.5% 0.48% +0.07
SNPS Synopsys Inc. Add +119.2% 0.11% +0.06
NXPI NXP Semiconductors NV Add +156.8% 0.10% +0.06
NEM Newmont Corp. Add +3.7% 0.88% +0.06
VLTO Veralto Corp. Add +992.9% 0.05% +0.05
XOM Exxon Mobil Corp. Add +21.9% 0.47% +0.03
GOOG Alphabet Inc. Class C Add +4.5% 0.26% +0.03
TRMB Trimble Inc. New 0.02% +0.02
KGC Kinross Gold Corp. Add +4.3% 0.11% +0.02
ADI Analog Devices Inc. Add +40.4% 0.06% +0.02
META Meta Platforms Inc. Class A Add +15.2% 0.35% +0.02
PLTR Palantir Technologies Inc. Class A Add +104.7% 0.03% +0.02
PCG P G & E Corp. New 0.02% +0.02
ALC Alcon Inc. Add +160.4% 0.03% +0.01
GS Goldman Sachs Group Inc. Add +41.3% 0.05% +0.01
QCOM Qualcomm Inc. Add +8.7% 0.12% +0.01
FER Ferrovial NV New 0.01% +0.01
ORCL Oracle Corp. Add +11.9% 0.13% +0.01
CVLT Commvault Systems Inc. Add +85.2% 0.02% +0.01
GDDY GoDaddy Inc. Class A New 0.01% +0.01
AVAV Aerovironment Inc. Add +56.0% 0.03% +0.01
WDC Western Digital Corp. New 0.01% +0.01
NTAP Netapp Inc. New 0.01% +0.01
PWR Quanta Services Inc. New 0.01% +0.01
HON Honeywell International Inc. Add +30.0% 0.06% +0.01
TER Teradyne Inc. New 0.01% +0.01
TYL Tyler Technologies Inc. New 0.01% +0.01
COR Cencora Inc. New 0.01% +0.01
COIN Coinbase Global Inc. Class A New 0.01% +0.01
P Everpure Inc. Class A New 0.01% +0.01
ESS Essex Property Trust Inc. Add +100.0% 0.02% +0.01
DOC Healthpeak Properties Inc. Add +173.3% 0.01% +0.01
NXT Nextpower Inc. Add +81.8% 0.04% +0.01
TU Telus Corp. Add +188.9% 0.01% +0.01
MRO Marathon Oil Corp. Add +170.0% 0.01% +0.01
UPS United Parcel Service Class B Add +52.8% 0.04% +0.01
MSTR Strategy Inc. New 0.01% +0.01

Notes & Other Activity Q1 2024 → Q2 2024
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 Sold out 70 $3Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 690$354.8MNVDA, SOXX, MSFT, AAPL, ONON
Q1 2026 687$297.7MNVDA, CVX, MSFT, AAPL, ONON
Q4 2025 682$397.2MNVDA, MSFT, META, ONON, AMZN
Q3 2025 662$422.0MNVDA, MSFT, AAPL, GOOGL, AMZN
Q2 2025 658$355.6MMSFT, NVDA, AMZN, AAPL, ISRG
Q1 2025 654$293.3MMSFT, NVDA, AAPL, AMZN, ISRG
Q4 2024 627$303.0MMSFT, NVDA, AAPL, AMZN, ISRG
Q3 2024 582$275.1MMSFT, NVDA, AMD, AAPL, ISRG
Q2 2024 564$267.9MNVDA, MSFT, AMD, ISRG, GOOGL
Q1 2024 572$236.1MNVDA, MSFT, AMD, PANW, NKE