Towarzystwo Funduszy Inwestycyjnych Pzu SA
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Towarzystwo Funduszy Inwestycyjnych Pzu SA reported 682 stock positions worth $397.2 million. Its top holding was Nvidia (NVDA) at 13.0% of the portfolio, followed by Microsoft (MSFT, 9.9%) and Meta Platforms Class A (META, 5.0%). Compared with Q3 2025, it opened 34 new positions, sold out of 16, added to 209 and reduced 67. The biggest buy was Meta Platforms Class A (META, shares +625%) and the biggest sale L3HARRIS Technologies (LHX, shares −94%).
- Most Recent 13F
- Q2 2026
- Location
- WARSAW, R9
- CIK
- 0002071170
- Portfolio Value
- $397.2M (Q4 2025)
- SEC Filing
- 0002071170-26-000001 ↗ filed Feb 13, 2026
Holdings Value
Holdings 682 stocks · $397.2M
| NVDA Nvidia Corp. | 13.03% | 277,500 | $51.8M | Add +19.9% |
| MSFT Microsoft Corp. | 9.94% | 81,611 | $39.5M | Add +0.3% |
| META Meta Platforms Inc. Class A | 5.03% | 30,256 | $20.0M | Add +625.4% |
| ONON On Holding AG Class A filed as ON HLDG AG | 4.99% | 426,716 | $19.8M | Add +11.3% |
| AMZN Amazon.com Inc. | 4.30% | 74,069 | $17.1M | Reduce -6.3% |
| NKE Nike Inc. Class B | 3.54% | 220,870 | $14.1M | No change |
| AXON Axon Enterprise Inc. | 3.48% | 24,365 | $13.8M | Add +46.4% |
| GOOGL Alphabet Inc. Class A | 3.18% | 40,341 | $12.6M | Reduce -43.9% |
| AAPL Apple Inc. | 3.03% | 44,312 | $12.0M | Reduce -45.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 2.21% | 57,242 | $8.8M | Reduce -45.5% |
| CRM Salesforce Inc. | 2.18% | 32,679 | $8.7M | Reduce -3.7% |
| AVGO Broadcom Inc. | 1.46% | 16,811 | $5.8M | Add +51.8% |
| NEM Newmont Corp. | 1.24% | 49,450 | $4.9M | Add +4.8% |
| CCJ Cameco Corp. | 1.17% | 50,732 | $4.7M | Reduce -27.5% |
| LLY Eli Lilly & Co. | 1.10% | 4,074 | $4.4M | Add +0.1% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.96% | 89,000 | $3.8M | No change |
| AEM Agnico Eagle Mines Ltd. | 0.95% | 22,182 | $3.8M | Add +5.7% |
| ISRG Intuitive Surgical Inc. | 0.91% | 6,408 | $3.6M | Reduce -83.0% |
| B Barrick Mining Corp. | 0.76% | 68,853 | $3.0M | Add +6.4% |
| FSLR First Solar Inc. | 0.68% | 10,264 | $2.7M | Reduce -34.6% |
| TLT iShares 20+ Year Treasury BD | 0.65% | 29,600 | $2.6M | No change |
| JNJ Johnson & Johnson | 0.63% | 11,995 | $2.5M | Add +13.0% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.57% | 4,847 | $2.3M | Reduce -24.1% |
| TSLA Tesla Inc. | 0.55% | 4,900 | $2.2M | Add +10.7% |
| UNH Unitedhealth Group Inc. | 0.55% | 6,672 | $2.2M | Reduce -9.6% |
| WPM Wheaton Precious Metals Corp. | 0.53% | 17,713 | $2.1M | Add +6.4% |
| DXCM Dexcom Inc. | 0.50% | 29,992 | $2.0M | Reduce -70.0% |
| GOOG Alphabet Inc. Class C | 0.47% | 6,000 | $1.9M | Add +2.9% |
| MU Micron Technology Inc. | 0.46% | 6,425 | $1.8M | Reduce -49.0% |
| XOM Exxon Mobil Corp. | 0.46% | 15,180 | $1.8M | Add +8.5% |
| GLD SPDR Gold Shares | 0.45% | 4,550 | $1.8M | Reduce -55.6% |
| NET Cloudflare Inc. Class A | 0.45% | 9,100 | $1.8M | Add +70.3% |
| ABBV Abbvie Inc. | 0.45% | 7,817 | $1.8M | Add +0.1% |
| CSCO Cisco Systems Inc. | 0.43% | 22,236 | $1.7M | Add +1.3% |
| CPER United States Copper Index | 0.42% | 47,500 | $1.7M | New |
| JPM JPMorgan Chase & Co. | 0.38% | 4,680 | $1.5M | Add +1.3% |
| V Visa Inc. Class A | 0.36% | 4,128 | $1.4M | Add +2.5% |
| KGC Kinross Gold Corp. | 0.36% | 51,100 | $1.4M | Add +5.6% |
| WMT Walmart Inc. | 0.33% | 11,879 | $1.3M | Add +3.0% |
| MA Mastercard Inc. Class A | 0.32% | 2,252 | $1.3M | Add +3.0% |
| ZS Zscaler Inc. | 0.32% | 5,705 | $1.3M | Add +37.4% |
| AU Anglogold Ashanti PLC | 0.30% | 14,112 | $1.2M | Reduce -9.0% |
| GFI Gold Fields Ltd.-Spons ADR | 0.30% | 27,200 | $1.2M | Reduce -3.5% |
| MRK Merck & Co. Inc. | 0.30% | 11,183 | $1.2M | Add +0.1% |
| ORCL Oracle Corp. | 0.29% | 5,939 | $1.2M | Add +9.7% |
| AMD Advanced Micro Devices | 0.29% | 5,299 | $1.1M | Reduce -34.0% |
| NFLX Netflix Inc. | 0.28% | 11,990 | $1.1M | Reduce -14.0% |
| PANW Palo Alto Networks Inc. | 0.28% | 6,092 | $1.1M | Add +91.9% |
| BSX Boston Scientific Corp. | 0.27% | 11,315 | $1.1M | Add +31.3% |
| PAAS Pan American Silver Corp. | 0.27% | 20,500 | $1.1M | Add +12.6% |
| KLAC KLA Corp. | 0.27% | 875 | $1.1M | Add +264.6% |
| CVX Chevron Corp. | 0.26% | 6,884 | $1.0M | Add +6.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.26% | 3,485 | $1.0M | Add +2.0% |
| TMO Thermo Fisher Scientific Inc. | 0.25% | 1,713 | $993K | Add +1.8% |
| ADBE Adobe Inc. | 0.25% | 2,820 | $987K | Reduce -23.2% |
| ABT Abbott Laboratories | 0.25% | 7,855 | $984K | Add +1.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.25% | 17,700 | $974K | Add +5.0% |
| AGI Alamos Gold Inc. Class A | 0.24% | 24,300 | $940K | Add +7.3% |
| GE General Electric filed as GE AEROSPACE | 0.23% | 2,905 | $895K | No change |
| DHR Danaher Corp. | 0.22% | 3,838 | $879K | No change |
| LHX L3HARRIS Technologies Inc. | 0.22% | 2,936 | $862K | Reduce -93.7% |
| SITM Sitime Corp. | 0.22% | 2,425 | $856K | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.21% | 1,690 | $849K | Add +7.3% |
| PLTR Palantir Technologies Inc. Class A | 0.20% | 4,500 | $800K | No change |
| WFC Wells Fargo & Co. | 0.19% | 8,250 | $769K | No change |
| AS Amer Sports Inc. | 0.19% | 20,450 | $764K | New |
| RL Ralph Lauren Corp. | 0.19% | 2,150 | $760K | New |
| UBER Uber Technologies Inc. | 0.19% | 9,240 | $755K | Reduce -18.4% |
| GILD Gilead Sciences Inc. | 0.19% | 6,048 | $742K | Reduce -9.3% |
| GEV GE Vernova Inc. | 0.19% | 1,135 | $742K | Add +68.2% |
| AMGN Amgen Inc. | 0.19% | 2,262 | $740K | Reduce -54.2% |
| NOW ServiceNow Inc. | 0.18% | 4,790 | $734K | Add +10.1% |
| CDE Coeur Mining Inc. | 0.18% | 40,000 | $713K | Add +4.7% |
| BABA Alibaba Group Holding-SP ADR | 0.18% | 4,750 | $696K | New |
| PG The Procter & Gamble Co. | 0.17% | 4,850 | $695K | Add +74.5% |
| EQX Equinox Gold Corp. | 0.17% | 47,200 | $665K | Add +8.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.17% | 5,810 | $661K | No change |
| WELL Welltower Inc. | 0.17% | 3,550 | $659K | Add +11.3% |
| SPOT Spotify Technology SA | 0.16% | 1,104 | $641K | No change |
| PLD Prologis Inc. | 0.16% | 4,860 | $620K | Add +14.1% |
| RTX RTX Corp. | 0.16% | 3,380 | $620K | Reduce -4.5% |
| IAG Iamgold Corp. | 0.15% | 37,000 | $612K | Add +1.9% |
| HMY Harmony Gold MNG-Spon ADR | 0.15% | 30,600 | $609K | No change |
| GS Goldman Sachs Group Inc. | 0.15% | 665 | $585K | Add +84.7% |
| KO The Coca-Cola Co. | 0.15% | 8,295 | $580K | Add +78.8% |
| PL Planet Labs PBC | 0.14% | 28,681 | $566K | Reduce -97.1% |
| TTWO Take-Two Interactive Softwre | 0.14% | 2,156 | $552K | Reduce -26.6% |
| FTNT Fortinet Inc. | 0.14% | 6,890 | $547K | Add +35.6% |
| SNPS Synopsys Inc. | 0.14% | 1,164 | $547K | Add +0.4% |
| BA The Boeing Co. | 0.14% | 2,500 | $543K | Add +14.7% |
| VRTX Vertex Pharmaceuticals Inc. | 0.14% | 1,189 | $539K | No change |
| SYK Stryker Corp. | 0.13% | 1,523 | $535K | No change |
| C Citigroup Inc. | 0.13% | 4,565 | $533K | Add +128.3% |
| XYL Xylem Inc. | 0.13% | 3,808 | $519K | No change |
| NGD New Gold Inc. | 0.13% | 58,500 | $511K | Add +9.3% |
| MS Morgan Stanley | 0.12% | 2,790 | $495K | Add +94.4% |
| NEE Nextera Energy Inc. | 0.12% | 6,050 | $486K | Add +33.9% |
| RBRK Rubrik Inc. Class A | 0.12% | 6,300 | $482K | Add +57.5% |
| PH Parker Hannifin Corp. | 0.12% | 545 | $479K | Reduce -1.8% |
| CHKP Check Point Software Tech | 0.12% | 2,570 | $477K | Add +28.2% |
Portfolio Sells Q3 2025 → Q4 2025
| LHX L3HARRIS Technologies Inc. | Reduce -93.7% | 0.22% | −3.18 |
| ISRG Intuitive Surgical Inc. | Reduce -83.0% | 0.91% | −3.07 |
| PL Planet Labs PBC | Reduce -97.1% | 0.14% | −2.88 |
| AAPL Apple Inc. | Reduce -45.8% | 3.03% | −1.90 |
| TJX TJX Companies Inc. | Reduce -45.5% | 2.21% | −1.38 |
| DXCM Dexcom Inc. | Reduce -70.0% | 0.50% | −1.09 |
| GOOGL Alphabet Inc. Class A | Reduce -43.9% | 3.18% | −0.96 |
| GLD SPDR Gold Shares | Reduce -55.6% | 0.45% | −0.40 |
| DDOG Datadog Inc. Class A | Reduce -69.5% | 0.10% | −0.22 |
| CCJ Cameco Corp. | Reduce -27.5% | 1.17% | −0.22 |
| ARGT Global X MSCI Argentina ETF | Sold out | 0.00% | −0.17 |
| AME Ametek Inc. | Reduce -93.0% | 0.02% | −0.17 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -24.1% | 0.57% | −0.17 |
| FSLR First Solar Inc. | Reduce -34.6% | 0.68% | −0.15 |
| AMGN Amgen Inc. | Reduce -54.2% | 0.19% | −0.14 |
| IGV iShares Expanded Tech-Softwa | Sold out | 0.00% | −0.11 |
| NFLX Netflix Inc. | Reduce -14.0% | 0.28% | −0.11 |
| MSI Motorola Solutions Inc. | Reduce -72.6% | 0.03% | −0.10 |
| IYH iShares U.S. Healthcare ETF | Sold out | 0.00% | −0.10 |
| UBER Uber Technologies Inc. | Reduce -18.4% | 0.19% | −0.07 |
| BVN Cia DE Minas Buenaventur-ADR | Sold out | 0.00% | −0.06 |
| ADBE Adobe Inc. | Reduce -23.2% | 0.25% | −0.06 |
| UNH Unitedhealth Group Inc. | Reduce -9.6% | 0.55% | −0.05 |
| TTWO Take-Two Interactive Softwre | Reduce -26.6% | 0.14% | −0.04 |
| MU Micron Technology Inc. | Reduce -49.0% | 0.46% | −0.04 |
| PFE Pfizer Inc. | Reduce -25.7% | 0.12% | −0.03 |
| AMD Advanced Micro Devices | Reduce -34.0% | 0.29% | −0.02 |
| ESTC Elastic NV | Sold out | 0.00% | −0.02 |
| CNC Centene Corp. | Reduce -81.4% | 0.01% | −0.02 |
| CYBR Cyberark Software Ltd./Israel | Reduce -12.3% | 0.11% | −0.02 |
| TENB Tenable Holdings Inc. | Reduce -34.5% | 0.02% | −0.02 |
| TRMB Trimble Inc. | Reduce -39.7% | 0.03% | −0.02 |
| JAZZ Jazz Pharmaceuticals PLC | Reduce -57.0% | 0.02% | −0.01 |
| BMRN Biomarin Pharmaceutical Inc. | Sold out | 0.00% | −0.01 |
| K Kellanova | Sold out | 0.00% | −0.01 |
| FROG Jfrog Ltd. | Sold out | 0.00% | −0.01 |
| PTC PTC Inc. | Reduce -8.3% | 0.05% | −0.01 |
| ALGN Align Technology Inc. | Reduce -89.0% | 0.00% | −0.01 |
| CPT Camden Property Trust | Sold out | 0.00% | −0.01 |
| CR Crane Co. | Sold out | 0.00% | −0.01 |
| TDY Teledyne Technologies Inc. | Reduce -7.1% | 0.05% | −0.01 |
| KRMN Karman Holdings Inc. | Sold out | 0.00% | −0.01 |
| SPR Spirit Aerosystems Hold Class A | Sold out | 0.00% | −0.01 |
| VST Vistra Corp. | Reduce -16.7% | 0.02% | −0.01 |
| DOCN Digitalocean Holdings Inc. | Sold out | 0.00% | −0.00 |
| RPD RAPID7 Inc. | Reduce -38.9% | 0.00% | −0.00 |
| MRCY Mercury Systems Inc. | Reduce -55.6% | 0.00% | −0.00 |
| ANET Arista Networks Inc. | Reduce -0.5% | 0.07% | −0.00 |
| BTG B2GOLD Corp. | Reduce -0.8% | 0.09% | −0.00 |
| MOH Molina Healthcare Inc. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| META Meta Platforms Inc. Class A | Add +625.4% | 5.03% | +4.30 |
| NVDA Nvidia Corp. | Add +19.9% | 13.03% | +2.80 |
| ONON On Holding AG Class A | Add +11.3% | 4.99% | +1.14 |
| AXON Axon Enterprise Inc. | Add +46.4% | 3.48% | +0.65 |
| AVGO Broadcom Inc. | Add +51.8% | 1.46% | +0.60 |
| CPER United States Copper Index | New | 0.42% | +0.42 |
| LLY Eli Lilly & Co. | Add +0.1% | 1.10% | +0.37 |
| NEM Newmont Corp. | Add +4.8% | 1.24% | +0.30 |
| B Barrick Mining Corp. | Add +6.4% | 0.76% | +0.25 |
| SITM Sitime Corp. | New | 0.22% | +0.22 |
| KLAC KLA Corp. | Add +264.6% | 0.27% | +0.21 |
| AS Amer Sports Inc. | New | 0.19% | +0.19 |
| RL Ralph Lauren Corp. | New | 0.19% | +0.19 |
| NET Cloudflare Inc. Class A | Add +70.3% | 0.45% | +0.18 |
| BABA Alibaba Group Holding-SP ADR | New | 0.18% | +0.18 |
| JNJ Johnson & Johnson | Add +13.0% | 0.63% | +0.16 |
| GOOG Alphabet Inc. Class C | Add +2.9% | 0.47% | +0.14 |
| PANW Palo Alto Networks Inc. | Add +91.9% | 0.28% | +0.13 |
| AEM Agnico Eagle Mines Ltd. | Add +5.7% | 0.95% | +0.11 |
| TTE Totalenergies SE | New | 0.11% | +0.11 |
| LULU Lululemon Athletica Inc. | Add +1600.0% | 0.11% | +0.11 |
| PAAS Pan American Silver Corp. | Add +12.6% | 0.27% | +0.10 |
| TSLA Tesla Inc. | Add +10.7% | 0.55% | +0.09 |
| GEV GE Vernova Inc. | Add +68.2% | 0.19% | +0.09 |
| XOM Exxon Mobil Corp. | Add +8.5% | 0.46% | +0.09 |
| C Citigroup Inc. | Add +128.3% | 0.13% | +0.09 |
| WPM Wheaton Precious Metals Corp. | Add +6.4% | 0.53% | +0.08 |
| GS Goldman Sachs Group Inc. | Add +84.7% | 0.15% | +0.08 |
| KGC Kinross Gold Corp. | Add +5.6% | 0.36% | +0.08 |
| CSCO Cisco Systems Inc. | Add +1.3% | 0.43% | +0.08 |
| MRK Merck & Co. Inc. | Add +0.1% | 0.30% | +0.07 |
| PG The Procter & Gamble Co. | Add +74.5% | 0.17% | +0.07 |
| KO The Coca-Cola Co. | Add +78.8% | 0.15% | +0.07 |
| BSX Boston Scientific Corp. | Add +31.3% | 0.27% | +0.07 |
| MS Morgan Stanley | Add +94.4% | 0.12% | +0.07 |
| RKLB Rocket Lab Corp. | Add +29.2% | 0.12% | +0.06 |
| TMO Thermo Fisher Scientific Inc. | Add +1.8% | 0.25% | +0.06 |
| DT Dynatrace Inc. | Add +1530.3% | 0.06% | +0.05 |
| EQX Equinox Gold Corp. | Add +8.4% | 0.17% | +0.05 |
| WMT Walmart Inc. | Add +3.0% | 0.33% | +0.05 |
| AGI Alamos Gold Inc. Class A | Add +7.3% | 0.24% | +0.05 |
| RBRK Rubrik Inc. Class A | Add +57.5% | 0.12% | +0.04 |
| IAG Iamgold Corp. | Add +1.9% | 0.15% | +0.04 |
| NEE Nextera Energy Inc. | Add +33.9% | 0.12% | +0.04 |
| PLD Prologis Inc. | Add +14.1% | 0.16% | +0.04 |
| BAC Bank of America Corp. | Add +5.0% | 0.25% | +0.04 |
| V Visa Inc. Class A | Add +2.5% | 0.36% | +0.04 |
| NGD New Gold Inc. | Add +9.3% | 0.13% | +0.04 |
| EGO Eldorado Gold Corp. | Add +9.1% | 0.12% | +0.04 |
| FTNT Fortinet Inc. | Add +35.6% | 0.14% | +0.04 |
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 |