TOWARZYSTWO FUNDUSZY INWESTYCYJNYCH PZU SA
Long book
$297.7M
Q1 2026
Positions
687
Top-10 weight
46%
concentration
Last quarter
+10.1%
SPY +14.8%
Turnover
6%
of book per quarter
Strategy in plain words
auto-generated from filingsTOWARZYSTWO FUNDUSZY INWESTYCYJNYCH PZU SA is an institutional manager, running a $297.7M US long book across 687 positions.
The portfolio is moderately concentrated (top 10 ≈ 46% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: NVIDIA CORP, CHEVRON CORP, MICROSOFT CORP, APPLE INC, ON HOLDING AG-CLASS A.
Over the last 9 quarters its long book ran on average 1pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+5.6%
Q2 2024
+0.7%
Q3 2024
-0.1%
Q4 2024
-7.7%
Q1 2025
+15.7%
Q2 2025
+9.9%
Q3 2025
+5.5%
Q4 2025
-8.3%
Q1 2026
+10.1%
Sector allocation
Technology 45%
Energy 11%
Materials 10%
Healthcare 9%
Industrials 6%
Other 5%
Consumer discretionary 5%
Financials 5%
Long book by quarter
What does TOWARZYSTWO FUNDUSZY own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 281.9K | $49.2M | 16.5% | +1.6% |
| CVX CHEVRON CORP | Energy | 107.8K | $22.3M | 7.5% | +1466.3% |
| MSFT MICROSOFT CORP | Technology | 45.3K | $16.8M | 5.6% | -44.4% |
| AAPL APPLE INC | Technology | 40.0K | $10.2M | 3.4% | -9.7% |
| ONON ON HOLDING AG-CLASS A | Other | 280.1K | $9.5M | 3.2% | -34.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 31.7K | $6.6M | 2.2% | -57.1% |
| META META PLATFORMS INC-CLASS A | Technology | 10.4K | $6.0M | 2.0% | -65.6% |
| AVGO BROADCOM INC | Technology | 18.0K | $5.6M | 1.9% | +7.3% |
| GOOGL ALPHABET INC-CL A | Technology | 16.4K | $4.7M | 1.6% | -59.3% |
| NEM NEWMONT CORP | Materials | 43.5K | $4.7M | 1.6% | -12.1% |
| LLY ELI LILLY & CO | Healthcare | 4.3K | $4.0M | 1.3% | +5.8% |
| AEM AGNICO EAGLE MINES LTD | Materials | 19.0K | $3.9M | 1.3% | -14.1% |
| CCJ CAMECO CORP | Materials | 34.4K | $3.7M | 1.3% | -32.2% |
| XOM EXXON MOBIL CORP | Energy | 19.4K | $3.3M | 1.1% | +27.6% |
| AXON AXON ENTERPRISE INC | Industrials | 6.8K | $2.9M | 1.0% | -71.9% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 6.0K | $2.8M | 0.9% | -6.7% |
| B BARRICK MINING CORP | Materials | 60.9K | $2.5M | 0.8% | -11.5% |
| JNJ JOHNSON & JOHNSON | Healthcare | 9.9K | $2.4M | 0.8% | -17.8% |
| CRM SALESFORCE INC | Technology | 12.6K | $2.3M | 0.8% | -61.5% |
| GEV GE VERNOVA INC | Industrials | 2.5K | $2.2M | 0.7% | +119.1% |
| MU MICRON TECHNOLOGY INC | Technology | 6.4K | $2.2M | 0.7% | -0.9% |
| NOW SERVICENOW INC | Technology | 20.1K | $2.1M | 0.7% | +319.1% |
| WPM WHEATON PRECIOUS METALS CORP | Materials | 16.0K | $2.1M | 0.7% | -9.8% |
| NET CLOUDFLARE INC - CLASS A | Technology | 9.2K | $1.9M | 0.6% | +1.4% |
| ABBV ABBVIE INC | Healthcare | 8.7K | $1.9M | 0.6% | +10.8% |
| CRWD CROWDSTRIKE HOLDINGS INC - A | Technology | 4.8K | $1.9M | 0.6% | -1.0% |
| TSLA TESLA INC | Industrials | 4.5K | $1.7M | 0.6% | -7.7% |
| UNH UNITEDHEALTH GROUP INC | Financials | 6.0K | $1.6M | 0.5% | -10.0% |
| MRK MERCK & CO. INC. | Healthcare | 13.1K | $1.6M | 0.5% | +17.5% |
| GOOG ALPHABET INC-CL C | Technology | 5.4K | $1.5M | 0.5% | -10.7% |
| JPM JPMORGAN CHASE & CO | Financials | 5.2K | $1.5M | 0.5% | +11.4% |
| FSLR FIRST SOLAR INC | Technology | 7.6K | $1.5M | 0.5% | -25.9% |
| AU ANGLOGOLD ASHANTI PLC | Materials | 15.2K | $1.5M | 0.5% | +7.4% |
| TJX TJX COMPANIES INC | Consumer discretionary | 9.0K | $1.4M | 0.5% | -84.3% |
| WMT WALMART INC | Consumer discretionary | 11.3K | $1.4M | 0.5% | -4.6% |
| CSCO CISCO SYSTEMS INC | Technology | 17.6K | $1.4M | 0.5% | -20.8% |
| DXCM DEXCOM INC | Healthcare | 21.7K | $1.4M | 0.5% | -27.6% |
| AS AMER SPORTS INC | Other | 41.0K | $1.3M | 0.5% | +100.5% |
| KGC KINROSS GOLD CORP | Materials | 44.2K | $1.3M | 0.5% | -13.5% |
| PANW PALO ALTO NETWORKS INC | Technology | 8.2K | $1.3M | 0.4% | +34.7% |
| AZN ASTRAZENECA PLC | Healthcare | 6.7K | $1.3M | 0.4% | New |
| V VISA INC-CLASS A SHARES | Services media | 4.2K | $1.3M | 0.4% | +0.7% |
| MA MASTERCARD INC - A | Services media | 2.2K | $1.1M | 0.4% | -3.2% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 2.2K | $1.1M | 0.4% | +30.8% |
| NFLX NETFLIX INC | Services media | 10.5K | $1.0M | 0.3% | -12.5% |
| WST WEST PHARMACEUTICAL SERVICES | Healthcare | 4.0K | $1.0M | 0.3% | +5642.9% |
| AMD ADVANCED MICRO DEVICES | Technology | 4.9K | $995K | 0.3% | -7.7% |
| PAAS PAN AMERICAN SILVER CORP | Materials | 18.1K | $985K | 0.3% | -12.0% |
| LHX L3HARRIS TECHNOLOGIES INC | Technology | 2.8K | $977K | 0.3% | -3.6% |
| AGI ALAMOS GOLD INC-CLASS A | Materials | 20.2K | $897K | 0.3% | -16.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 688 | $297.7M | confidential canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 683 | $397.2M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 662 | $422.0M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 658 | $355.6M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Aug 14, 2025 | 654 | $293.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Aug 14, 2025 | 627 | $303.0M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Aug 14, 2025 | 582 | $275.1M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2025 | 564 | $267.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Aug 14, 2025 | 573 | $236.1M | canonical | SEC ↗ |
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