Latest Carmignac Gestion Stock Portfolio

Carmignac Gestion Performance:

2025 Q4: 1.25%YTD: 18.91%2024: 19.56%

Performance for 2025 Q4 is 1.25%, and YTD is 18.91%, and 2024 is 19.56%.

About Carmignac Gestion and 13F Hedge Fund Stock Holdings

On 2026-02-13, the fund reported it's updated stock portfolio. In the 13F Holdings report, Carmignac Gestion reported an equity portfolio of $7.4 Billions as of 31 Dec, 2025.

The top stock holdings of Carmignac Gestion are NVDA, MSFT, SPGI. The fund has invested 9.2% of it's portfolio in NVIDIA CORP and 6.9% of portfolio in MICROSOFT CORP.

The fund managers got completely rid off EATON CORP PLC (ETN), LINDE PLC (LIN) and COMFORT SYSTEMS USA INC (FIX) stocks. They significantly reduced their stock positions in ELI LILLY & CO (LLY), CADENCE DESIGN SYSTEMS INC (CDNS) and META PLATFORMS INC (META). Carmignac Gestion opened new stock positions in NOVO NORDISK A/S (NVO), SPROUTS FARMERS MARKET INC (SFM) and REGENERON PHARMACEUTICALS INC (REGN). The fund showed a lot of confidence in some stocks as they added substantially to ATLASSIAN CORP (TEAM), PELOTON INTERACTIVE INC (PTON) and FRANCO-NEVADA CORP (FNV).

Carmignac Gestion Annual Return Estimates Vs S&P 500

Our best estimate is that Carmignac Gestion made a return of 1.25% in the last quarter. In trailing 12 months, it's portfolio return was 18.91%.

Performance
S&P 500

New Buys

Ticker	$ Bought
novo nordisk a/s	51,047,900
sprouts farmers market inc	42,225,100
regeneron pharmaceuticals inc	38,575,100
netflix inc	37,350,400
kimberly-clark corp	20,487,500
new oriental education & technology group inc	20,333,300
clorox co/the	12,399,800
comerica inc	9,377,400

New stocks bought by Carmignac Gestion

Additions

Ticker	% Inc.
atlassian corp	6,602
peloton interactive inc	828
franco-nevada corp	797
doximity inc	355
accenture plc	265
colgate-palmolive co	195
microsoft corp	142
salesforce inc	103

Additions to existing portfolio by Carmignac Gestion

Reductions

Ticker	% Reduced
eli lilly & co	-97.54
cadence design systems inc	-94.69
meta platforms inc	-83.55
taiwan semiconductor manufacturing co ltd	-82.68
thermo fisher scientific inc	-43.21
alphabet inc	-42.26
itau unibanco holding sa	-36.61
vipshop holdings ltd	-36.16

Carmignac Gestion reduced stake in above stock

Sold off

Ticker	$ Sold
hanesbrands inc	-9,571,060
centene corp	-30,256,600
vimeo inc	-4,708,970
mrc global inc	-7,947,240
avidxchange holdings inc	-3,738,890
informatica inc	-9,163,680
o'reilly automotive inc	-34,126,200
sandstorm gold ltd	-3,392,380

Carmignac Gestion got rid off the above stocks

Sector Distribution

Carmignac Gestion has about 38% of it's holdings in Technology sector.

Sector	%
Technology	38
Financial Services	15.7
Consumer Cyclical	10.5
Healthcare	10
Others	9.8
Communication Services	7.1
Consumer Defensive	3
Industrials	2.8
Energy	2.4

Market Cap. Distribution

Carmignac Gestion has about 89.4% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	57.4
MEGA-CAP	32
UNALLOCATED	5.7
MID-CAP	4.3

Stocks belong to which Index?

About 74.4% of the stocks held by Carmignac Gestion either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	71.8
Others	25.6
RUSSELL 2000	2.6

Top 5 Winners (%)		%
YETI	yeti holdings inc	28.1 %
FCX	freeport-mcmoran inc	26.7 %
LNTH	lantheus holdings inc	24.6 %
ALGN	align technology inc	24.5 %
GOOG	alphabet inc	22.7 %

Top 5 Winners ($)		$
GOOG	alphabet inc	128.6 M
SPGI	s&p global inc	28.4 M
ABC	cencora inc	22.1 M
APH	amphenol corp	21.6 M
CRM	salesforce inc	21.0 M

Top 5 Losers (%)		%
QFIN	qfin holdings inc	-33.0 %
GOTU	gaotu techedu inc	-28.8 %
DOCS	doximity inc	-28.4 %
EH	ehang holdings ltd	-27.1 %
TME	tencent music entertainment group	-24.4 %

Top 5 Losers ($)		$
MELI	mercadolibre inc	-44.4 M
NOW	servicenow inc	-41.9 M
DOCS	doximity inc	-33.3 M
EFX	equifax inc	-27.1 M
MSFT	microsoft corp	-25.5 M

Carmignac Gestion Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Carmignac Gestion

Carmignac Gestion has 118 stocks in it's portfolio. About 51.9% of the portfolio is in top 10 stocks. MELI proved to be the most loss making stock for the portfolio. GOOG was the most profitable stock for Carmignac Gestion last quarter.

Last Reported on: 13 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	0.06	14,979	4,072,190	reduced	-33.11

ABC	cencora inc	4.00	875,095	295,571,000	reduced	-0.09

ABNB	airbnb inc	0.86	468,370	63,567,200	unchanged	0.00

ACN	accenture plc	1.93	532,041	142,747,000	added	265

ADBE	adobe inc	0.02	5,000	1,749,950	new

AEM	agnico eagle mines ltd	0.62	268,511	45,520,700	added	31.61

AGI	alamos gold inc	0.17	329,968	12,730,200	added	52.36

AL	air lease corp	0.11	125,849	8,083,280	new

ALGN	align technology inc	0.52	246,101	38,449,500	added	1.31

AMWD	american woodmark corp	0.08	115,255	6,212,240	unchanged	0.00

AMZN	amazon.com inc	4.93	1,577,740	364,199,000	reduced	-23.36

ANET	arista networks inc	1.94	1,093,780	143,333,000	added	9.08

APH	amphenol corp	2.18	1,194,200	161,384,000	reduced	-15.14

AVDX	avidxchange holdings inc	0.00	0.00	0.00	sold off	-100

AVGO	broadcom inc	0.65	139,080	48,135,600	reduced	-30.4

BABA	alibaba group holding ltd	0.02	9,540	1,398,370	new

BAC	bank of america corp	0.02	26,682	1,467,510	new

BNTX	biontech se	0.19	144,087	13,717,700	added	35.23

CADE	cadence bank	0.04	70,869	3,036,030	new

CASY	casey's general stores inc	0.04	4,800	2,653,010	new