Q2 2026 13F · SEC CIK 1569758

Carmignac Gestion

Investment managerFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $7.7B
Reported positions: 94
Top holdings a year, 3 yrs: +22.6%
Average holding period: 3.4 yrs

Carmignac Gestion is an investment manager that reported 94 positions worth $7.7B in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Nvidia Corporation Com (NVDA, 12.5%), Broadcom Inc (AVGO, 6.6%), Cencora Inc Com (COR, 6.4%). A portfolio copying its top holdings returned 22.6% a year over the last 3 years, against 20.4% for the S&P 500.

Carmignac Gestion holdings largest 50 of 94 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Carmignac Gestion 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
NVDANvidia Corporation Com	12.5%	12.2%	4,795,726	+5.0%	$959.4M
AVGOBroadcom Inc	6.6%	2.6%	1,354,155	+150.0%	$511.5M
CORCencora Inc Com	6.4%	5.3%	1,747,363	+58.7%	$494.5M
MCKMckesson Corp Com	6.1%	4.2%	626,904	+97.3%	$473.7M
GOOGLAlphabet Inc	5.4%	5.9%	1,154,334	-14.2%	$412.5M
TWTradeweb Mkts Inc	5.0%	4.1%	3,876,800	+69.6%	$386.4M
MAMastercard Inc.	4.9%	2.9%	732,598	+92.6%	$376.2M
SPGIS&P Global Inc.	4.9%	6.2%	919,140	-3.8%	$374.3M
BRK-BBerkshire Hathaway Inc Del	4.6%	3.0%	704,407	+72.8%	$352.5M
MELIMercadolibre Inc	4.2%	6.6%	190,098	-23.8%	$322.6M
ICEIntercontinental Exchange in	3.3%	2.8%	2,070,226	+80.0%	$254.9M
MSFTMicrosoft Corp	3.0%	1.2%	621,773	+189.3%	$231.9M
AMZNAmazon Com Inc Com	2.6%	4.5%	841,266	-40.3%	$200.5M
APHAmphenol Corp	2.2%	1.3%	969,763	+44.9%	$171.0M
LNTHLantheus Hldgs Inc	1.9%	1.5%	1,340,100	+0.9%	$148.7M
TEAMAtlassian Corporation	1.6%	2.7%	1,577,000	-39.4%	$122.7M
REGNRegeneron Pharmaceuticals	1.5%	1.4%	182,507	+56.6%	$113.8M
ZTSZoetis Inc	1.5%	—	1,575,700	—	$113.2M
EFXEquifax Inc	1.5%	1.0%	710,685	+94.9%	$112.8M
PHParker-Hannifin Corp	1.3%	0.5%	103,265	+191.4%	$101.0M
ITUBItau Unibanco Hldg S A	1.3%	1.1%	12,219,314	+41.6%	$99.8M
SQBlock Inc	1.3%	3.0%	1,287,026	-60.2%	$97.8M
ABNBAirbnb Inc	1.2%	1.3%	656,570	-0.5%	$94.0M
VRTXVertex Pharmaceuticals Inc	1.1%	1.0%	163,045	+10.0%	$81.0M
CLSCelestica Inc	0.9%	—	193,200	—	$70.5M
VIPSVipshop Holdings Ltd	0.8%	1.1%	4,920,324	+9.8%	$65.2M
SESea Ltd	0.8%	0.8%	651,818	+2.2%	$62.3M
METAMeta Platforms Inc Class A	0.8%	1.0%	103,560	-9.5%	$58.3M
ALGNAlign Technology Inc	0.7%	0.6%	316,832	+40.7%	$53.5M
DOCSDoximity Inc	0.6%	1.5%	2,355,900	-45.4%	$48.9M
GTLBGitLab Inc	0.6%	0.3%	1,475,612	+55.8%	$45.1M
SLBSlb Limited	0.5%	0.7%	846,192	-10.6%	$39.3M
VNETVnet Group Inc	0.5%	—	4,760,599	—	$38.1M
NOWServicenow Inc Com	0.5%	2.4%	371,803	-75.4%	$36.9M
NBIXNeurocrine Biosciences Inc	0.5%	0.4%	214,100	+15.1%	$36.1M
RPRXRoyalty Pharma PLC	0.5%	0.5%	630,700	-0.1%	$35.4M
SFMSprouts Fmrs Mkt Inc	0.4%	0.8%	375,200	-46.3%	$31.7M
SPCXSpace Ex Tech Spacex Class A	0.4%	—	168,723	—	$28.8M
VTMXVesta Real Estate Corp	0.4%	0.4%	829,302	+0.8%	$28.5M
TBBBBbb Foods Inc	0.4%	—	670,106	—	$27.9M
IONSIonis Pharmaceuticals Inc	0.3%	—	321,000	—	$25.5M
TMETencent Music Entmt Group	0.3%	0.4%	2,903,426	+0.8%	$24.3M
KSPIKaspi Kz Jsc	0.3%	0.3%	226,666	+1.0%	$19.6M
GLGlobe Life Inc	0.2%	0.4%	107,100	-37.0%	$19.1M
CLColgate Palmolive Co	0.2%	0.3%	199,143	-15.7%	$18.3M
AEMAgnico Eagle Mines Ltd	0.2%	—	113,584	—	$17.6M
FNVFranco Nev Corp	0.2%	—	83,723	—	$17.5M
GTLSChart Inds Inc	0.2%	0.3%	82,944	+0.0%	$17.3M
WBSWebster Finl Corp	0.2%	0.2%	222,221	+14.5%	$17.0M
EDUNew Oriental Ed & Technology	0.2%	0.3%	368,392	+0.8%	$16.9M

What Carmignac Gestion bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +17.0% /yr; S&P 500 +20.1%
3 years: +22.6% /yr; S&P 500 +20.4%
5 years: +9.7% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$7.7B	94
Q1 2026	$6.5B	108
Q4 2025	$7.4B	119
Q3 2025	$6.7B	126
Q2 2025	$6.5B	122
Q1 2025	$6.1B	152
Q4 2024	$6.3B	148
Q3 2024	$6.0B	167
Q2 2024	$5.8B	155
Q1 2024	$6.3B	139
Q4 2023	$6.0B	144
Q3 2023	$5.4B	144

Questions about Carmignac Gestion's portfolio

What stocks does Carmignac Gestion own?

Carmignac Gestion's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 94 positions worth $7.7B. The largest are Nvidia Corporation Com (NVDA) at 12.5%, Broadcom Inc (AVGO) at 6.6%, Cencora Inc Com (COR) at 6.4%, Mckesson Corp Com (MCK) at 6.1% and Alphabet Inc (GOOGL) at 5.4%.

What did Carmignac Gestion buy last quarter?

In Q2 2026, Carmignac Gestion added Parker-Hannifin Corp (PH) (+191.4% shares), Microsoft Corp (MSFT) (+189.3% shares) and Broadcom Inc (AVGO) (+150.0% shares), compared with its Q1 2026 filing.

What did Carmignac Gestion sell last quarter?

In Q2 2026, Carmignac Gestion cut from its top 50 Salesforce Inc Com (CRM), cut from its top 50 Arista Networks Inc (ANET), cut from its top 50 Booking Holdings Inc Com (BKNG), cut from its top 50 Workday Inc (WDAY), cut from its top 50 Credo Technology Group Holdi (CRDO), Servicenow Inc Com (NOW) (-75.4% shares), Block Inc (SQ) (-60.2% shares) and Sprouts Fmrs Mkt Inc (SFM) (-46.3% shares), compared with its Q1 2026 filing.

How has Carmignac Gestion's portfolio performed?

A portfolio copying Carmignac Gestion's 20 largest 13F holdings each quarter, from the day each filing was public, returned +22.6% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +17.0% against +20.1%. Over 5 years: +9.7% a year against +11.6%.

When is Carmignac Gestion's next 13F filing due?

13F filings are due 45 days after each quarter ends. Carmignac Gestion's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.