Carmignac Gestion Q4 2025 Filing

Filed February 13, 2026

Portfolio Value

$7.4B

Holdings

120

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (120 positions)

#StockSharesValue% PortfolioType
1
NVDANVIDIA CORP
3,645,106$678.0M9.17%Call
2
MSFTMICROSOFT CORP
1,061,153$513.3M6.94%
3
SPGIS&P GLOBAL INC
864,840$452.0M6.11%
4
GOOGLALPHABET INC
1,347,106$421.7M5.70%
5
AMZNAMAZON.COM INC
1,577,739$364.2M4.93%
6
ABGCENCORA INC
875,095$295.6M4.00%
7
MCKMCKESSON CORP
358,535$294.1M3.98%
8
MLB1MERCADOLIBRE INC
141,373$284.8M3.85%
9
CRMSALESFORCE INC
1,008,151$267.1M3.61%
10
NOWSERVICENOW INC
1,734,925$265.8M3.59%
11
TWTRADEWEB MARKETS INC
2,214,400$238.1M3.22%
12
ICEINTERCONTINENTAL EXCHANGE INC
1,375,560$222.8M3.01%
13
XYZBLOCK INC
3,417,826$222.5M3.01%
14
TEAMATLASSIAN CORP
1,206,368$195.6M2.65%
15
SLBSLB LTD
4,669,456$179.2M2.42%
16
MAMASTERCARD INC
299,595$171.1M2.31%
17
EFXEQUIFAX INC
750,015$162.8M2.20%
18
APHAMPHENOL CORP
1,194,200$161.4M2.18%
19
ANETARISTA NETWORKS INC
1,093,784$143.3M1.94%
20
ACNACCENTURE PLC
532,041$142.7M1.93%
21
CLCOLGATE-PALMOLIVE CO
1,153,391$91.2M1.23%
22
VRTXVERTEX PHARMACEUTICALS INC
191,571$86.9M1.17%
23
DOCSDOXIMITY INC
1,893,026$83.8M1.13%
24
TMOTHERMO FISHER SCIENTIFIC INC
140,037$81.2M1.10%
25
LNTHLANTHEUS HOLDINGS INC
1,122,000$74.7M1.01%
26
VIPSVIPSHOP HOLDINGS LTD
4,161,154$73.7M1.00%
27
SESEA LTD
516,426$65.9M0.89%
28
ABNBAIRBNB INC
468,370$63.6M0.86%
29
ITUBITAU UNIBANCO HOLDING SA
7,152,585$51.2M0.69%
30
NVONOVO NORDISK A/S
1,003,300$51.0M0.69%
31
PGPROCTER & GAMBLE CO/THE
346,492$49.7M0.67%
32
GTLBGITLAB INC
1,310,000$49.2M0.66%
33
AVGOBROADCOM INC
145,780$48.1M0.65%Call
34
FNVFRANCO-NEVADA CORP
225,511$46.7M0.63%
35
AEMAGNICO EAGLE MINES LTD
268,511$45.5M0.62%
36
KEYSKEYSIGHT TECHNOLOGIES INC
213,000$43.3M0.59%
37
SFMSPROUTS FARMERS MARKET INC
530,000$42.2M0.57%
38
REGNREGENERON PHARMACEUTICALS INC
49,971$38.6M0.52%
39
AFWALIGN TECHNOLOGY INC
246,101$38.4M0.52%
40
NFLXNETFLIX INC
398,362$37.4M0.51%
41
GLGLOBE LIFE INC
265,000$37.1M0.50%
42
METAMETA PLATFORMS INC
48,831$29.3M0.40%Call
43
NEMNEWMONT CORP
268,134$26.8M0.36%
44
VTMXVESTA REAL ESTATE CORP
796,215$24.3M0.33%
45
HTHTH WORLD GROUP LTD
469,601$22.1M0.30%
46
KMBKIMBERLY-CLARK CORP
203,068$20.5M0.28%
47
N1UANEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC
369,289$20.3M0.28%
48
FCXFREEPORT-MCMORAN INC
384,504$19.5M0.26%
49
KSPIKASPI.KZ JSC
228,970$17.9M0.24%
50
LULULULULEMON ATHLETICA INC
74,300$15.4M0.21%
51
HDHOME DEPOT INC/THE
42,046$14.5M0.20%
52
BNTXBIONTECH SE
144,087$13.7M0.19%
53
AGIALAMOS GOLD INC
329,968$12.7M0.17%
54
CLXCLOROX CO/THE
122,977$12.4M0.17%
55
OCOWENS CORNING
105,800$11.8M0.16%
56
GTLSCHART INDUSTRIES INC
55,842$11.5M0.16%
57
FYBRFRONTIER COMMUNICATIONS PARENT INC
290,833$11.1M0.15%
58
CTLPCANTALOUPE INC
977,158$10.4M0.14%
59
CMACOMERICA INC
107,873$9.4M0.13%
60
NBIXNEUROCRINE BIOSCIENCES INC
63,600$9.0M0.12%
61
EXASEXACT SCIENCES CORP
81,354$8.3M0.11%
62
ALAIR LEASE CORP
125,849$8.1M0.11%
63
DENNDENNY'S CORP
1,285,703$8.0M0.11%
64
CSGSCSG SYSTEMS INTERNATIONAL INC
103,097$7.9M0.11%
65
TWLOTWILIO INC
50,000$7.1M0.10%
66
CWANCLEARWATER ANALYTICS HOLDINGS INC
288,126$6.9M0.09%
67
75ZSOHO HOUSE & CO INC
741,722$6.6M0.09%
68
VRTVERTIV HOLDINGS CO
40,000$6.5M0.09%
69
AMWDAMERICAN WOODMARK CORP
115,255$6.2M0.08%
70
INTUINTUIT INC
9,179$6.1M0.08%
71
EAELECTRONIC ARTS INC
28,740$5.9M0.08%
72
DAYDAYFORCE INC
79,728$5.5M0.07%
73
WBDWARNER BROS DISCOVERY INC
185,955$5.4M0.07%
74
PRAPROASSURANCE CORP
217,263$5.2M0.07%
75
KLACKLA CORP
4,000$4.9M0.07%
76
CSCOCISCO SYSTEMS INC
58,345$4.5M0.06%
77
HOLXHOLOGIC INC
56,387$4.2M0.06%
78
RNAAVIDITY BIOSCIENCES INC
57,938$4.2M0.06%
79
CDTXCIDARA THERAPEUTICS INC
18,896$4.2M0.06%
80
JHGJANUS HENDERSON GROUP PLC
87,299$4.2M0.06%
81
CFLTCONFLUENT INC
136,922$4.1M0.06%
82
AAPLAPPLE INC
14,979$4.1M0.06%
83
COSTCOSTCO WHOLESALE CORP
4,653$4.0M0.05%
84
VVISA INC
10,552$3.7M0.05%
85
JPMJPMORGAN CHASE & CO
11,400$3.7M0.05%
86
CDNSCADENCE DESIGN SYSTEMS INC
11,586$3.6M0.05%
87
VNETVNET GROUP INC
394,616$3.3M0.05%
88
NGDNEW GOLD INC
379,537$3.3M0.04%
89
MARMARRIOTT INTERNATIONAL INC/MD
10,482$3.3M0.04%
90
HLTHILTON WORLDWIDE HOLDINGS INC
11,045$3.2M0.04%
91
CADECADENCE BANK
70,869$3.0M0.04%
92
AM6AMICUS THERAPEUTICS INC
194,887$2.8M0.04%
93
TXNMTXNM ENERGY INC
47,000$2.8M0.04%
94
HIHILLENBRAND INC
86,224$2.7M0.04%
95
KVUEKENVUE INC
157,574$2.7M0.04%
96
CASYCASEY'S GENERAL STORES INC
4,800$2.7M0.04%
97
CIOCITY OFFICE REIT INC
375,233$2.6M0.04%
98
LLYELI LILLY & CO
2,379$2.6M0.03%
99
TGNATEGNA INC
123,716$2.4M0.03%
100
PTONPELOTON INTERACTIVE INC
4,430,939$2.3M0.03%Call
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