Carmignac Gestion
Long book
$6.51B
Q1 2026
Positions
108
Top-10 weight
55%
concentration
Last quarter
+9.2%
SPY +14.8%
Turnover
49%
of book per quarter
Strategy in plain words
auto-generated from filingsCarmignac Gestion is a diversified fundamental manager, running a $6.51B US long book across 108 positions.
The portfolio is concentrated: the top 10 names carry 55% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: NVIDIA CORP, MERCADOLIBRE INC, S&P GLOBAL INC, ALPHABET INC-CL A, CENCORA INC.
Over the last 9 quarters its long book ran on average 0.6pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+4.4%
Q2 2024
+5.1%
Q3 2024
-0.6%
Q4 2024
-0.8%
Q1 2025
+16.4%
Q2 2025
+8.3%
Q3 2025
+3.1%
Q4 2025
-10.2%
Q1 2026
+9.2%
Sector allocation
Technology 43%
Services media 19%
Consumer discretionary 16%
Financials 11%
Healthcare 4%
Other 3%
Industrials 2%
Materials 2%
Long book by quarter
What does Carmignac Gestion own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 4.6M | $796.0M | 12.2% | +25.6% |
| MELI MERCADOLIBRE INC | Services media | 249.5K | $431.1M | 6.6% | +76.5% |
| SPGI S&P GLOBAL INC | Services media | 955.0K | $406.2M | 6.2% | +10.4% |
| GOOGL ALPHABET INC-CL A | Technology | 1.3M | $386.8M | 5.9% | -0.1% |
| COR CENCORA INC | Consumer discretionary | 1.1M | $345.9M | 5.3% | +25.8% |
| AMZN AMAZON.COM INC | Consumer discretionary | 1.4M | $293.5M | 4.5% | -10.6% |
| MCK MCKESSON CORP | Consumer discretionary | 317.7K | $274.9M | 4.2% | -11.4% |
| TW TRADEWEB MARKETS INC-CLASS A | Financials | 2.3M | $269.0M | 4.1% | +3.2% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 407.7K | $195.4M | 3.0% | New |
| XYZ BLOCK INC | Technology | 3.2M | $194.6M | 3.0% | -5.4% |
| MA MASTERCARD INC - A | Services media | 380.5K | $190.1M | 2.9% | +27.0% |
| CRM SALESFORCE INC | Technology | 974.1K | $181.8M | 2.8% | -3.4% |
| ICE INTERCONTINENTAL EXCHANGE IN | Financials | 1.2M | $180.9M | 2.8% | -16.4% |
| TEAM ATLASSIAN CORP-CL A | Technology | 2.6M | $177.7M | 2.7% | +115.8% |
| AVGO BROADCOM INC | Technology | 541.7K | $167.4M | 2.6% | +289.5% |
| NOW SERVICENOW INC | Technology | 1.5M | $158.3M | 2.4% | -12.7% |
| LNTH LANTHEUS HOLDINGS INC | Materials | 1.3M | $100.7M | 1.5% | +18.4% |
| DOCS DOXIMITY INC-CLASS A | Technology | 4.3M | $100.5M | 1.5% | +127.8% |
| ANET ARISTA NETWORKS INC | Technology | 747.0K | $91.6M | 1.4% | -31.7% |
| REGN REGENERON PHARMACEUTICALS | Healthcare | 116.6K | $90.0M | 1.4% | +133.3% |
| APH AMPHENOL CORP-CL A | Technology | 669.2K | $84.6M | 1.3% | -44.0% |
| ABNB AIRBNB INC-CLASS A | Services media | 659.6K | $83.3M | 1.3% | +40.8% |
| MSFT MICROSOFT CORP | Technology | 214.9K | $79.4M | 1.2% | -79.7% |
| VRTX VERTEX PHARMACEUTICALS INC | Healthcare | 148.2K | $66.2M | 1.0% | -22.6% |
| EFX EQUIFAX INC | Services media | 364.6K | $65.6M | 1.0% | -51.4% |
| META META PLATFORMS INC-CLASS A | Technology | 114.4K | $65.5M | 1.0% | +158.1% |
| BKNG BOOKING HOLDINGS INC | Industrials | 14.7K | $62.1M | 1.0% | New |
| WDAY WORKDAY INC-CLASS A | Technology | 457.5K | $59.4M | 0.9% | New |
| SFM SPROUTS FARMERS MARKET INC | Consumer discretionary | 698.5K | $53.9M | 0.8% | +31.8% |
| SLB SLB LTD | Energy | 946.2K | $48.6M | 0.7% | -79.7% |
| ALGN ALIGN TECHNOLOGY INC | Healthcare | 225.2K | $38.5M | 0.6% | -8.5% |
| CRDO CREDO TECHNOLOGY GROUP HOLDI | Technology | 364.5K | $34.2M | 0.5% | New |
| PH PARKER HANNIFIN CORP | Industrials | 35.4K | $31.7M | 0.5% | New |
| RPRX ROYALTY PHARMA PLC- CL A | Healthcare | 631.2K | $30.3M | 0.5% | New |
| NBIX NEUROCRINE BIOSCIENCES INC | Healthcare | 186.0K | $24.5M | 0.4% | +192.5% |
| GL GLOBE LIFE INC | Financials | 170.0K | $23.7M | 0.4% | -35.8% |
| GTLB GITLAB INC-CL A | Technology | 947.0K | $20.5M | 0.3% | -27.7% |
| CL COLGATE-PALMOLIVE CO | Other | 236.2K | $20.2M | 0.3% | -79.5% |
| GTLS CHART INDUSTRIES INC | Industrials | 82.9K | $17.1M | 0.3% | +48.5% |
| AL AIR LEASE CORP | — | 260.2K | $16.9M | 0.3% | +106.7% |
| HO1 HOLOGIC INC | — | 205.0K | $15.5M | 0.2% | +263.6% |
| WBS WEBSTER FINANCIAL CORP | Financials | 194.0K | $13.5M | 0.2% | New |
| KLAC KLA CORP | Other | 9.0K | $13.3M | 0.2% | +125.0% |
| PG PROCTER & GAMBLE CO/THE | Other | 88.2K | $12.7M | 0.2% | -74.6% |
| UTE0 CANTALOUPE INC | — | 1.1M | $11.6M | 0.2% | +10.1% |
| MASI* MASIMO CORP | — | 64.8K | $11.5M | 0.2% | New |
| AM6 AMICUS THERAPEUTICS INC | — | 784.5K | $11.3M | 0.2% | +302.5% |
| HD HOME DEPOT INC | Consumer discretionary | 30.7K | $10.1M | 0.2% | -26.9% |
| EA ELECTRONIC ARTS INC | Technology | 48.9K | $10.0M | 0.2% | +70.3% |
| K4F ONESTREAM INC | — | 384.9K | $9.2M | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Jun 15, 2026 | 112 | $6.51B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 124 | $7.39B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 136 | $6.71B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 129 | $6.50B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 152 | $6.09B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 151 | $6.27B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 168 | $5.99B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 160 | $5.83B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 146 | $6.32B | canonical | SEC ↗ |
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