Towarzystwo Funduszy Inwestycyjnych Pzu SA
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Towarzystwo Funduszy Inwestycyjnych Pzu SA reported 687 stock positions worth $297.7 million. Its top holding was Nvidia (NVDA) at 16.5% of the portfolio, followed by Chevron (CVX, 7.5%) and Microsoft (MSFT, 5.6%). Compared with Q4 2025, it opened 22 new positions, sold out of 18, added to 135 and reduced 221. The biggest buy was Chevron (CVX, shares +1466%) and the biggest sale Microsoft (MSFT, shares −44%).
- Most Recent 13F
- Q2 2026
- Location
- WARSAW, R9
- CIK
- 0002071170
- Portfolio Value
- $297.7M (Q1 2026)
- SEC Filing
- 0002071170-26-000003 ↗ filed May 15, 2026
Holdings Value
Holdings 687 stocks · $297.7M
| NVDA Nvidia Corp. | 16.52% | 281,880 | $49.2M | Add +1.6% |
| CVX Chevron Corp. | 7.50% | 107,824 | $22.3M | Add +1466.3% |
| MSFT Microsoft Corp. | 5.64% | 45,340 | $16.8M | Reduce -44.4% |
| AAPL Apple Inc. | 3.41% | 40,000 | $10.2M | Reduce -9.7% |
| ONON On Holding AG Class A filed as ON HLDG AG | 3.20% | 280,142 | $9.5M | Reduce -34.4% |
| AMZN Amazon.com Inc. | 2.22% | 31,747 | $6.6M | Reduce -57.1% |
| META Meta Platforms Inc. Class A | 2.00% | 10,412 | $6.0M | Reduce -65.6% |
| AVGO Broadcom Inc. | 1.88% | 18,036 | $5.6M | Add +7.3% |
| GOOGL Alphabet Inc. Class A | 1.59% | 16,425 | $4.7M | Reduce -59.3% |
| NEM Newmont Corp. | 1.58% | 43,450 | $4.7M | Reduce -12.1% |
| LLY Eli Lilly & Co. | 1.33% | 4,309 | $4.0M | Add +5.8% |
| AEM Agnico Eagle Mines Ltd. | 1.30% | 19,047 | $3.9M | Reduce -14.1% |
| CCJ Cameco Corp. | 1.25% | 34,391 | $3.7M | Reduce -32.2% |
| XOM Exxon Mobil Corp. | 1.10% | 19,370 | $3.3M | Add +27.6% |
| AXON Axon Enterprise Inc. | 0.98% | 6,840 | $2.9M | Reduce -71.9% |
| ISRG Intuitive Surgical Inc. | 0.93% | 5,979 | $2.8M | Reduce -6.7% |
| B Barrick Mining Corp. | 0.83% | 60,949 | $2.5M | Reduce -11.5% |
| JNJ Johnson & Johnson | 0.81% | 9,863 | $2.4M | Reduce -17.8% |
| CRM Salesforce Inc. | 0.79% | 12,567 | $2.3M | Reduce -61.5% |
| GEV GE Vernova Inc. | 0.73% | 2,487 | $2.2M | Add +119.1% |
| MU Micron Technology Inc. | 0.72% | 6,368 | $2.2M | Reduce -0.9% |
| NOW ServiceNow Inc. | 0.71% | 20,074 | $2.1M | Add +319.1% |
| WPM Wheaton Precious Metals Corp. | 0.70% | 15,976 | $2.1M | Reduce -9.8% |
| NET Cloudflare Inc. Class A | 0.64% | 9,231 | $1.9M | Add +1.4% |
| ABBV Abbvie Inc. | 0.63% | 8,659 | $1.9M | Add +10.8% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.63% | 4,797 | $1.9M | Reduce -1.0% |
| TSLA Tesla Inc. | 0.57% | 4,525 | $1.7M | Reduce -7.7% |
| UNH Unitedhealth Group Inc. | 0.55% | 6,007 | $1.6M | Reduce -10.0% |
| MRK Merck & Co. Inc. | 0.53% | 13,138 | $1.6M | Add +17.5% |
| GOOG Alphabet Inc. Class C | 0.52% | 5,360 | $1.5M | Reduce -10.7% |
| JPM JPMorgan Chase & Co. | 0.52% | 5,214 | $1.5M | Add +11.4% |
| FSLR First Solar Inc. | 0.50% | 7,604 | $1.5M | Reduce -25.9% |
| AU Anglogold Ashanti PLC | 0.50% | 15,162 | $1.5M | Add +7.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.48% | 9,010 | $1.4M | Reduce -84.3% |
| WMT Walmart Inc. | 0.47% | 11,329 | $1.4M | Reduce -4.6% |
| CSCO Cisco Systems Inc. | 0.46% | 17,600 | $1.4M | Reduce -20.9% |
| DXCM Dexcom Inc. | 0.46% | 21,717 | $1.4M | Reduce -27.6% |
| AS Amer Sports Inc. | 0.45% | 41,000 | $1.3M | Add +100.5% |
| KGC Kinross Gold Corp. | 0.45% | 44,200 | $1.3M | Reduce -13.5% |
| PANW Palo Alto Networks Inc. | 0.44% | 8,204 | $1.3M | Add +34.7% |
| AZN Astrazeneca PLC | 0.43% | 6,651 | $1.3M | Add +262.3% |
| V Visa Inc. Class A | 0.42% | 4,158 | $1.3M | Add +0.7% |
| GFI Gold Fields Ltd.-Spons ADR | 0.42% | 27,600 | $1.3M | Add +1.5% |
| MA Mastercard Inc. Class A | 0.37% | 2,179 | $1.1M | Reduce -3.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.36% | 2,210 | $1.1M | Add +30.8% |
| NFLX Netflix Inc. | 0.34% | 10,497 | $1.0M | Reduce -12.4% |
| WST West Pharmaceutical Services | 0.34% | 4,020 | $1.0M | Add +5642.9% |
| AMD Advanced Micro Devices | 0.33% | 4,889 | $995K | Reduce -7.7% |
| PAAS Pan American Silver Corp. | 0.33% | 18,050 | $985K | Reduce -11.9% |
| LHX L3HARRIS Technologies Inc. | 0.33% | 2,831 | $977K | Reduce -3.6% |
| AGI Alamos Gold Inc. Class A | 0.30% | 20,200 | $897K | Reduce -16.9% |
| CDE Coeur Mining Inc. | 0.30% | 47,533 | $892K | Add +18.8% |
| PL Planet Labs PBC | 0.30% | 31,450 | $879K | Add +9.7% |
| TTE Totalenergies SE | 0.29% | 9,300 | $863K | Add +42.9% |
| ZS Zscaler Inc. | 0.27% | 5,785 | $812K | Add +1.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.26% | 16,110 | $785K | Reduce -9.0% |
| WELL Welltower Inc. | 0.26% | 3,950 | $781K | Add +11.3% |
| GE General Electric filed as GE AEROSPACE | 0.26% | 2,750 | $780K | Reduce -5.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.26% | 3,160 | $766K | Reduce -9.3% |
| COP Conocophillips | 0.25% | 5,690 | $751K | Add +28.7% |
| OII Oceaneering Intl Inc. | 0.25% | 21,000 | $745K | New |
| HXL Hexcel Corp. | 0.25% | 9,050 | $732K | New |
| KO The Coca-Cola Co. | 0.25% | 9,629 | $732K | Add +16.1% |
| MCHI iShares MSCI China ETF | 0.24% | 12,980 | $729K | New |
| GILD Gilead Sciences Inc. | 0.24% | 5,109 | $712K | Reduce -15.5% |
| COST Costco Wholesale Corp. | 0.24% | 707 | $704K | Add +30.9% |
| C Citigroup Inc. | 0.24% | 6,210 | $704K | Add +36.0% |
| TMO Thermo Fisher Scientific Inc. | 0.23% | 1,412 | $694K | Reduce -17.6% |
| PLD Prologis Inc. | 0.23% | 5,240 | $693K | Add +7.8% |
| AMGN Amgen Inc. | 0.23% | 1,927 | $678K | Reduce -14.8% |
| ABT Abbott Laboratories | 0.23% | 6,580 | $676K | Reduce -16.2% |
| PG The Procter & Gamble Co. | 0.22% | 4,610 | $666K | Reduce -5.0% |
| ADBE Adobe Inc. | 0.22% | 2,735 | $665K | Reduce -3.0% |
| UBER Uber Technologies Inc. | 0.22% | 8,990 | $647K | Reduce -2.7% |
| BSX Boston Scientific Corp. | 0.21% | 10,061 | $631K | Reduce -11.1% |
| GS Goldman Sachs Group Inc. | 0.21% | 739 | $625K | Add +11.1% |
| RTX RTX Corp. | 0.20% | 3,160 | $610K | Reduce -6.5% |
| WFC Wells Fargo & Co. | 0.20% | 7,580 | $603K | Reduce -8.1% |
| SGOL Abrdn Physical Gold Shares | 0.20% | 13,450 | $600K | Add +80.5% |
| BABA Alibaba Group Holding-SP ADR | 0.20% | 4,750 | $596K | No change |
| IAUM iShares Gold Trust Micro | 0.20% | 12,450 | $581K | Add +77.9% |
| OUNZ Vaneck Merk Gold ETF | 0.20% | 12,900 | $581K | Add +108.1% |
| CAT Caterpillar Inc. | 0.20% | 820 | $581K | Add +39.0% |
| PLTR Palantir Technologies Inc. Class A | 0.19% | 3,940 | $576K | Reduce -12.4% |
| NEE Nextera Energy Inc. | 0.19% | 6,200 | $576K | Add +2.5% |
| FTNT Fortinet Inc. | 0.19% | 6,940 | $567K | Add +0.7% |
| SPOT Spotify Technology SA | 0.19% | 1,164 | $564K | Add +5.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.19% | 5,810 | $560K | No change |
| LMT Lockheed Martin Corp. | 0.19% | 925 | $559K | Reduce -3.1% |
| EQIX Equinix Inc. | 0.18% | 560 | $549K | Add +14.3% |
| NKE Nike Inc. Class B | 0.18% | 10,330 | $546K | Reduce -95.3% |
| USAR USA Rare Earth Inc. | 0.18% | 34,873 | $528K | New |
| HON Honeywell International Inc. | 0.18% | 2,330 | $527K | Add +0.9% |
| IAG Iamgold Corp. | 0.18% | 28,000 | $525K | Reduce -24.3% |
| MS Morgan Stanley | 0.17% | 3,145 | $518K | Add +12.7% |
| BA The Boeing Co. | 0.17% | 2,600 | $517K | Add +4.0% |
| HMY Harmony Gold MNG-Spon ADR | 0.17% | 33,600 | $516K | Add +9.8% |
| DHR Danaher Corp. | 0.17% | 2,713 | $514K | Reduce -29.3% |
| TTWO Take-Two Interactive Softwre | 0.17% | 2,600 | $514K | Add +20.6% |
| EQX Equinox Gold Corp. | 0.17% | 35,400 | $510K | Reduce -25.0% |
Portfolio Sells Q4 2025 → Q1 2026
| MSFT Microsoft Corp. | Reduce -44.4% | 5.64% | −4.30 |
| NKE Nike Inc. Class B | Reduce -95.3% | 0.18% | −3.36 |
| META Meta Platforms Inc. Class A | Reduce -65.6% | 2.00% | −3.03 |
| AXON Axon Enterprise Inc. | Reduce -71.9% | 0.98% | −2.51 |
| AMZN Amazon.com Inc. | Reduce -57.1% | 2.22% | −2.08 |
| ONON On Holding AG Class A | Reduce -34.4% | 3.20% | −1.79 |
| TJX TJX Companies Inc. | Reduce -84.3% | 0.48% | −1.73 |
| GOOGL Alphabet Inc. Class A | Reduce -59.3% | 1.59% | −1.59 |
| CRM Salesforce Inc. | Reduce -61.5% | 0.79% | −1.39 |
| SHYG iShares 0-5 YR HY Corp. Bond | Sold out | 0.00% | −0.96 |
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −0.65 |
| CPER United States Copper Index | Sold out | 0.00% | −0.42 |
| GLD SPDR Gold Shares | Reduce -85.7% | 0.09% | −0.36 |
| SITM Sitime Corp. | Sold out | 0.00% | −0.22 |
| RL Ralph Lauren Corp. | Sold out | 0.00% | −0.19 |
| FSLR First Solar Inc. | Reduce -25.9% | 0.50% | −0.17 |
| KLAC KLA Corp. | Reduce -73.8% | 0.11% | −0.15 |
| ORCL Oracle Corp. | Reduce -50.0% | 0.15% | −0.14 |
| NGD New Gold Inc. | Sold out | 0.00% | −0.13 |
| XYL Xylem Inc. | Reduce -92.9% | 0.01% | −0.12 |
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −0.11 |
| LULU Lululemon Athletica Inc. | Reduce -94.1% | 0.01% | −0.10 |
| HUBS HubSpot Inc. | Reduce -90.1% | 0.01% | −0.09 |
| BSX Boston Scientific Corp. | Reduce -11.1% | 0.21% | −0.06 |
| DHR Danaher Corp. | Reduce -29.3% | 0.17% | −0.05 |
| DXCM Dexcom Inc. | Reduce -27.6% | 0.46% | −0.04 |
| INTU Intuit Inc. | Reduce -15.5% | 0.07% | −0.03 |
| APP AppLovin Corp. Class A | Reduce -11.0% | 0.06% | −0.03 |
| ADBE Adobe Inc. | Reduce -3.0% | 0.22% | −0.03 |
| ABT Abbott Laboratories | Reduce -16.2% | 0.23% | −0.02 |
| JAZZ Jazz Pharmaceuticals PLC | Sold out | 0.00% | −0.02 |
| TMO Thermo Fisher Scientific Inc. | Reduce -17.6% | 0.23% | −0.02 |
| AVTR Avantor Inc. | Sold out | 0.00% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -15.5% | 0.08% | −0.01 |
| ACN Accenture PLC Class A | Reduce -13.5% | 0.07% | −0.01 |
| CFG Citizens Financial Group | Reduce -84.4% | 0.00% | −0.01 |
| EXPD Expeditors Intl Wash Inc. | Reduce -84.7% | 0.00% | −0.01 |
| ELS Equity Lifestyle Properties | Sold out | 0.00% | −0.01 |
| SHOP Shopify Inc. Class A | Reduce -11.9% | 0.06% | −0.01 |
| BDX Becton Dickinson and Co. | Reduce -18.9% | 0.07% | −0.01 |
| AMH American Homes 4 Rent- A | Sold out | 0.00% | −0.01 |
| UNH Unitedhealth Group Inc. | Reduce -10.0% | 0.55% | −0.01 |
| SNOW Snowflake Inc. | Reduce -14.8% | 0.03% | −0.01 |
| NTNX Nutanix Inc. Class A | Sold out | 0.00% | −0.01 |
| PLTR Palantir Technologies Inc. Class A | Reduce -12.4% | 0.19% | −0.01 |
| ARE Alexandria Real Estate Equit | Sold out | 0.00% | −0.01 |
| IE Ivanhoe Electric Inc. / US | Sold out | 0.00% | −0.01 |
| IQV Iqvia Holdings Inc. | Reduce -13.8% | 0.05% | −0.01 |
| L Loews Corp. | Reduce -90.0% | 0.00% | −0.01 |
| OSPN Onespan Inc. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| CVX Chevron Corp. | Add +1466.3% | 7.50% | +7.23 |
| NVDA Nvidia Corp. | Add +1.6% | 16.52% | +3.49 |
| XOM Exxon Mobil Corp. | Add +27.6% | 1.10% | +0.64 |
| GEV GE Vernova Inc. | Add +119.1% | 0.73% | +0.54 |
| NOW ServiceNow Inc. | Add +319.1% | 0.71% | +0.52 |
| AVGO Broadcom Inc. | Add +7.3% | 1.88% | +0.41 |
| AZN Astrazeneca PLC | Add +262.3% | 0.43% | +0.35 |
| WST West Pharmaceutical Services | Add +5642.9% | 0.34% | +0.33 |
| AS Amer Sports Inc. | Add +100.5% | 0.45% | +0.26 |
| OII Oceaneering Intl Inc. | New | 0.25% | +0.25 |
| HXL Hexcel Corp. | New | 0.25% | +0.25 |
| MCHI iShares MSCI China ETF | New | 0.24% | +0.24 |
| MRK Merck & Co. Inc. | Add +17.5% | 0.53% | +0.23 |
| LLY Eli Lilly & Co. | Add +5.8% | 1.33% | +0.23 |
| AU Anglogold Ashanti PLC | Add +7.4% | 0.50% | +0.19 |
| NET Cloudflare Inc. Class A | Add +1.4% | 0.64% | +0.19 |
| ABBV Abbvie Inc. | Add +10.8% | 0.63% | +0.18 |
| TTE Totalenergies SE | Add +42.9% | 0.29% | +0.18 |
| USAR USA Rare Earth Inc. | New | 0.18% | +0.18 |
| PANW Palo Alto Networks Inc. | Add +34.7% | 0.44% | +0.16 |
| PL Planet Labs PBC | Add +9.7% | 0.30% | +0.15 |
| COP Conocophillips | Add +28.7% | 0.25% | +0.15 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +30.8% | 0.36% | +0.14 |
| JPM JPMorgan Chase & Co. | Add +11.4% | 0.52% | +0.14 |
| OUNZ Vaneck Merk Gold ETF | Add +108.1% | 0.20% | +0.13 |
| SGOL Abrdn Physical Gold Shares | Add +80.5% | 0.20% | +0.12 |
| EEM iShares MSCI Emerging Market | New | 0.12% | +0.12 |
| GFI Gold Fields Ltd.-Spons ADR | Add +1.5% | 0.42% | +0.12 |
| CDE Coeur Mining Inc. | Add +18.8% | 0.30% | +0.12 |
| IAUM iShares Gold Trust Micro | Add +77.9% | 0.20% | +0.12 |
| COST Costco Wholesale Corp. | Add +30.9% | 0.24% | +0.12 |
| CAT Caterpillar Inc. | Add +39.0% | 0.20% | +0.11 |
| C Citigroup Inc. | Add +36.0% | 0.24% | +0.10 |
| KO The Coca-Cola Co. | Add +16.1% | 0.25% | +0.10 |
| WELL Welltower Inc. | Add +11.3% | 0.26% | +0.10 |
| CNQ Canadian Natural Resources | Add +41.0% | 0.15% | +0.10 |
| IEMG iShares Core MSCI Emerging | New | 0.09% | +0.09 |
| EQIX Equinix Inc. | Add +14.3% | 0.18% | +0.09 |
| MCD McDonald's Corp. | Add +64.8% | 0.15% | +0.08 |
| NVT Nvent Electric PLC | New | 0.08% | +0.08 |
| RY Royal Bank of Canada | Add +119.5% | 0.12% | +0.08 |
| PLD Prologis Inc. | Add +7.8% | 0.23% | +0.08 |
| SU Suncor Energy Inc. | Add +38.5% | 0.12% | +0.08 |
| NEE Nextera Energy Inc. | Add +2.5% | 0.19% | +0.07 |
| EOG EOG Resources Inc. | Add +32.6% | 0.12% | +0.07 |
| HON Honeywell International Inc. | Add +0.9% | 0.18% | +0.06 |
| AKAM Akamai Technologies Inc. | Add +1.1% | 0.14% | +0.06 |
| GS Goldman Sachs Group Inc. | Add +11.1% | 0.21% | +0.06 |
| FCX Freeport-McMoran Inc. | Add +24.8% | 0.12% | +0.06 |
| KTOS Kratos Defense & Security | Add +31.0% | 0.16% | +0.06 |
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 |