Mirova US LLC
Long book
$8.81B
Q1 2026
Positions
42
Top-10 weight
50%
concentration
Last quarter
+11.0%
SPY +14.8%
Turnover
2%
of book per quarter
Strategy in plain words
auto-generated from filingsMirova US LLC is a concentrated fundamental stock-picker, running a $8.81B US long book across 42 positions.
The portfolio is moderately concentrated (top 10 ≈ 50% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: NVIDIA CORP, MICROSOFT CORP, MASTERCARD INC - A, TAIWAN SEMICONDUCTOR-SP ADR, TJX COMPANIES INC.
Over the last 9 quarters its long book ran on average 1.4pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+5.3%
Q2 2024
+5.4%
Q3 2024
-3.0%
Q4 2024
-2.2%
Q1 2025
+9.4%
Q2 2025
+6.0%
Q3 2025
+3.3%
Q4 2025
-7.4%
Q1 2026
+11.0%
Sector allocation
Technology 42%
Services media 12%
Healthcare 11%
Industrials 10%
Utilities 9%
Other 8%
Consumer discretionary 7%
Financials 0%
Long book by quarter
What does Mirova US own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 5.1M | $881.7M | 10.0% | -3.8% |
| MSFT MICROSOFT CORP | Technology | 1.6M | $575.8M | 6.5% | -4.0% |
| MA MASTERCARD INC - A | Services media | 957.7K | $478.5M | 5.4% | -3.9% |
| TJX TJX COMPANIES INC | Consumer discretionary | 2.4M | $384.6M | 4.4% | -4.1% |
| AVGO BROADCOM INC | Technology | 1.1M | $344.6M | 3.9% | +19.8% |
| LLY ELI LILLY & CO | Healthcare | 368.4K | $338.9M | 3.8% | -4.1% |
| NEE NEXTERA ENERGY INC | Utilities | 3.6M | $336.5M | 3.8% | -2.7% |
| SHOP SHOPIFY INC - CLASS A | Technology | 2.7M | $316.9M | 3.6% | -4.1% |
| WM WASTE MANAGEMENT INC | Utilities | 1.4M | $313.0M | 3.6% | -4.0% |
| EBAY EBAY INC | Services media | 3.4M | $312.4M | 3.5% | -3.3% |
| ECL ECOLAB INC | Other | 1.2M | $311.2M | 3.5% | -18.6% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 615.1K | $302.3M | 3.4% | -4.1% |
| HUBB HUBBELL INC | Technology | 575.9K | $282.6M | 3.2% | +20.3% |
| PANW PALO ALTO NETWORKS INC | Technology | 1.6M | $256.9M | 2.9% | -3.9% |
| VRT VERTIV HOLDINGS CO-A | Technology | 1.0M | $256.3M | 2.9% | +30.8% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 512.4K | $236.2M | 2.7% | -4.1% |
| LOW LOWE'S COS INC | Consumer discretionary | 941.4K | $222.4M | 2.5% | -4.0% |
| XYL XYLEM INC | Industrials | 1.8M | $216.0M | 2.5% | -3.9% |
| EW EDWARDS LIFESCIENCES CORP | Healthcare | 2.6M | $210.4M | 2.4% | -4.1% |
| DHR DANAHER CORP | Technology | 1.1M | $199.4M | 2.3% | -4.0% |
| AGCO AGCO CORP | Industrials | 1.6M | $183.8M | 2.1% | +36.2% |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 1.9M | $152.9M | 1.7% | -4.2% |
| VLTO VERALTO CORP | Technology | 1.7M | $149.4M | 1.7% | +60.4% |
| BALL BALL CORP | Industrials | 2.4M | $142.3M | 1.6% | -4.3% |
| BSX BOSTON SCIENTIFIC CORP | Healthcare | 2.2M | $138.3M | 1.6% | +60.8% |
| FSLR FIRST SOLAR INC | Technology | 698.6K | $137.8M | 1.6% | -21.4% |
| ACN ACCENTURE PLC-CL A | Services media | 682.7K | $135.4M | 1.5% | -4.0% |
| WTS WATTS WATER TECHNOLOGIES-A | Industrials | 437.9K | $127.1M | 1.4% | -4.9% |
| CRM SALESFORCE INC | Technology | 609.5K | $113.8M | 1.3% | -4.0% |
| AWK AMERICAN WATER WORKS CO INC | Utilities | 750.7K | $102.2M | 1.2% | -4.0% |
| V VISA INC-CLASS A SHARES | Services media | 325.8K | $98.5M | 1.1% | -57.8% |
| WMS ADVANCED DRAINAGE SYSTEMS IN | Other | 628.8K | $86.2M | 1.0% | -4.9% |
| JCI JOHNSON CONTROLS INTERNATION | Industrials | 44.0K | $5.8M | 0.1% | -0.2% |
| NDAQ NASDAQ INC | Financials | 66.2K | $5.6M | 0.1% | -22.7% |
| GOOGL ALPHABET INC-CL A | Technology | 19.4K | $5.6M | 0.1% | Held |
| AAPL APPLE INC | Technology | 15.4K | $3.9M | 0.0% | Held |
| AMZN AMAZON.COM INC | Consumer discretionary | 15.1K | $3.2M | 0.0% | Held |
| ES EVERSOURCE ENERGY | Utilities | 43.8K | $3.0M | 0.0% | -18.9% |
| CL COLGATE-PALMOLIVE CO | Other | 33.9K | $2.9M | 0.0% | -0.2% |
| INTU INTUIT INC | Technology | 5.8K | $2.5M | 0.0% | -0.2% |
| META META PLATFORMS INC-CLASS A | Technology | 3.8K | $2.2M | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 11, 2026 | 42 | $8.81B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 43 | $9.96B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 20, 2025 | 36 | $9.90B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 23, 2025 | 35 | $9.66B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 34 | $8.42B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 34 | $8.34B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 33 | $8.72B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 31, 2024 | 29 | $8.03B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 9, 2024 | 27 | $7.44B | canonical | SEC ↗ |
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