13F HOLDINGS REPORT
Carmignac Gestion
Quarter ended Q3 2025 · Filed November 13, 2025 · Accession 0000945621-25-001089
Total Value
$6.71B
Positions
136
Other Managers
0
Confidential Omitted
No
Holdings (136)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | NVIDIA CORP | NVDA | 3,448,254 | $643.3M | 9.59% |
| 2 | ALPHABET INC | GOOG | 2,333,226 | $567.2M | 8.45% |
| 3 | AMAZON.COM INC | AMZN | 2,058,757 | $452.1M | 6.74% |
| 4 | S&P GLOBAL INC | SPGI | 720,412 | $350.7M | 5.23% |
| 5 | MERCADOLIBRE INC | MELI | 132,696 | $310.3M | 4.63% |
| 6 | CENCORA INC | COR | 875,846 | $273.7M | 4.08% |
| 7 | MCKESSON CORP | MCK | 314,173 | $242.7M | 3.62% |
| 8 | MICROSOFT CORP | MSFT | 437,491 | $226.5M | 3.38% |
| 9 | META PLATFORMS INC | META | 269,499 | $197.9M | 2.95% |
| 10 | SCHLUMBERGER NV | SLB | 5,746,100 | $197.5M | 2.94% |
| 11 | INTERCONTINENTAL EXCHANGE INC | 45866F104 | 1,154,160 | $194.4M | 2.90% |
| 12 | SERVICENOW INC | NOW | 194,515 | $179.1M | 2.67% |
| 13 | AMPHENOL CORP | 032095101 | 1,337,500 | $165.5M | 2.47% |
| 14 | EQUIFAX INC | EFX | 623,317 | $159.9M | 2.38% |
| 15 | MASTERCARD INC | MA | 278,412 | $158.4M | 2.36% |
| 16 | ARISTA NETWORKS INC | ANET | 1,002,700 | $146.1M | 2.18% |
| 17 | TRADEWEB MARKETS INC | 892672106 | 1,259,800 | $139.8M | 2.08% |
| 18 | BLOCK INC | BSQKZ | 1,916,626 | $138.5M | 2.06% |
| 19 | VIPSHOP HOLDINGS LTD | VIPS | 6,518,398 | $127.8M | 1.91% |
| 20 | THERMO FISHER SCIENTIFIC INC | TMO | 246,592 | $119.5M | 1.78% |
| 21 | SALESFORCE INC | CRM | 494,447 | $117.2M | 1.75% |
| 22 | ITAU UNIBANCO HOLDING SA | 465562106 | 11,283,185 | $82.8M | 1.23% |
| 23 | EATON CORP PLC | ETN | 216,700 | $81.1M | 1.21% |
| 24 | CADENCE DESIGN SYSTEMS INC | CDNS | 218,188 | $76.6M | 1.14% |
| 25 | ELI LILLY & CO | LLY | 96,847 | $73.8M | 1.10% |
| 26 | VERTEX PHARMACEUTICALS INC | VRTX | 187,539 | $73.5M | 1.09% |
| 27 | BROADCOM INC | AVGO | 199,824 | $65.9M | 0.98% |
| 28 | AIRBNB INC | ABNB | 468,370 | $56.9M | 0.85% |
| 29 | SEA LTD | SE | 283,455 | $50.7M | 0.76% |
| 30 | LINDE PLC | LIN | 93,794 | $44.6M | 0.66% |
| 31 | LANTHEUS HOLDINGS INC | LNTH | 807,409 | $41.4M | 0.62% |
| 32 | KEYSIGHT TECHNOLOGIES INC | KEYS | 235,100 | $41.1M | 0.61% |
| 33 | COMFORT SYSTEMS USA INC | 199908104 | 48,400 | $39.9M | 0.60% |
| 34 | CELESTICA INC | CLS | 158,000 | $38.9M | 0.58% |
| 35 | ACCENTURE PLC | ACN | 145,554 | $35.9M | 0.53% |
| 36 | AGNICO EAGLE MINES LTD | AEM | 204,026 | $34.4M | 0.51% |
| 37 | O'REILLY AUTOMOTIVE INC | 67103H107 | 316,540 | $34.1M | 0.51% |
| 38 | COLGATE-PALMOLIVE CO | CL | 390,528 | $31.2M | 0.47% |
| 39 | PROCTER & GAMBLE CO/THE | 742718109 | 200,871 | $30.9M | 0.46% |
| 40 | ALIGN TECHNOLOGY INC | ALGN | 242,908 | $30.4M | 0.45% |
| 41 | DOXIMITY INC | DOCS | 415,228 | $30.4M | 0.45% |
| 42 | CENTENE CORP | CNC | 848,000 | $30.3M | 0.45% |
| 43 | GITLAB INC | GTLB | 670,000 | $30.2M | 0.45% |
| 44 | NEWMONT CORP | NEMCL | 350,639 | $29.6M | 0.44% |
| 45 | GLOBE LIFE INC | GL-PD | 159,000 | $22.7M | 0.34% |
| 46 | H WORLD GROUP LTD | HWLDF | 576,907 | $22.6M | 0.34% |
| 47 | VESTA REAL ESTATE CORP | VTMX | 768,515 | $21.7M | 0.32% |
| 48 | KASPI.KZ JSC | 48581R205 | 250,587 | $20.5M | 0.31% |
| 49 | SYNOPSYS INC | SNPS | 40,964 | $20.2M | 0.30% |
| 50 | NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC | 647581206 | 363,289 | $19.3M | 0.29% |
| 51 | LULULEMON ATHLETICA INC | LULU | 106,000 | $18.9M | 0.28% |
| 52 | FREEPORT-MCMORAN INC | FCX | 474,662 | $18.6M | 0.28% |
| 53 | CARPENTER TECHNOLOGY CORP | CRS | 69,000 | $16.9M | 0.25% |
| 54 | HOME DEPOT INC/THE | HD | 39,671 | $16.1M | 0.24% |
| 55 | MERUS NV | N5749R100 | 167,532 | $15.8M | 0.23% |
| 56 | TRIUMPH GROUP INC | 896818101 | 139,896 | $14.9M | 0.22% |
| 57 | OWENS CORNING | OC | 85,000 | $12.0M | 0.18% |
| 58 | MOLSON COORS BEVERAGE CO | TAP-A | 265,000 | $12.0M | 0.18% |
| 59 | WNS HOLDINGS LTD | G98196101 | 155,639 | $11.9M | 0.18% |
| 60 | FRONTIER COMMUNICATIONS PARENT INC | 35909D109 | 290,833 | $10.9M | 0.16% |
| 61 | BIONTECH SE | BNTX | 106,549 | $10.5M | 0.16% |
| 62 | CANTALOUPE INC | CTLPP | 977,158 | $10.3M | 0.15% |
| 63 | SAP SE | SAPGF | 37,500 | $10.0M | 0.15% |
| 64 | KELLANOVA | BEKE | 117,086 | $9.6M | 0.14% |
| 65 | HANESBRANDS INC | 410345102 | 1,452,361 | $9.6M | 0.14% |
| 66 | CHART INDUSTRIES INC | 16115Q308 | 46,274 | $9.3M | 0.14% |
| 67 | INTUIT INC | INTU | 13,502 | $9.2M | 0.14% |
| 68 | INFORMATICA INC | 45674M101 | 368,908 | $9.2M | 0.14% |
| 69 | DANAHER CORP | 235851102 | 44,359 | $8.7M | 0.13% |
| 70 | MRC GLOBAL INC | 55345K103 | 551,126 | $7.9M | 0.12% |
| 71 | AMERICAN WOODMARK CORP | AMWD | 115,255 | $7.7M | 0.11% |
| 72 | ALAMOS GOLD INC | AGI | 216,578 | $7.5M | 0.11% |
| 73 | SOHO HOUSE & CO INC | 586001109 | 741,722 | $6.6M | 0.10% |
| 74 | APPLE INC | AAPL | 22,394 | $5.7M | 0.08% |
| 75 | FRANCO-NEVADA CORP | FNV | 25,135 | $5.6M | 0.08% |
| 76 | ELECTRONIC ARTS INC | EA | 26,843 | $5.4M | 0.08% |
| 77 | KLA CORP | KLAC | 5,000 | $5.4M | 0.08% |
| 78 | LIBERTY GLOBAL LTD | LBTYK | 158,207 | $5.3M | 0.08% |
| 79 | PROASSURANCE CORP | PRA | 217,263 | $5.2M | 0.08% |
| 80 | VIMEO INC | 92719V100 | 607,609 | $4.7M | 0.07% |
| 81 | VNET GROUP INC | VNET | 395,449 | $4.1M | 0.06% |
| 82 | COSTCO WHOLESALE CORP | 22160K105 | 4,245 | $3.9M | 0.06% |
| 83 | AVIDXCHANGE HOLDINGS INC | 05368X102 | 375,768 | $3.7M | 0.06% |
| 84 | GUILD HOLDINGS CO | 40172N107 | 182,235 | $3.6M | 0.05% |
| 85 | VISA INC | V | 10,552 | $3.6M | 0.05% |
| 86 | ENSTAR GROUP LIMITED | G3075P101 | 35,000 | $3.5M | 0.05% |
| 87 | CISCO SYSTEMS INC | CSCO | 49,614 | $3.4M | 0.05% |
| 88 | SANDSTORM GOLD LTD | 80013R206 | 270,957 | $3.4M | 0.05% |
| 89 | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 874039100 | 12,122 | $3.4M | 0.05% |
| 90 | JPMORGAN CHASE & CO | VYLD | 9,371 | $3.0M | 0.04% |
| 91 | ATLASSIAN CORP | TEAM | 18,000 | $2.9M | 0.04% |
| 92 | SPOTIFY TECHNOLOGY SA | SPOT | 3,890 | $2.7M | 0.04% |
| 93 | INTEGRAL AD SCIENCE HOLDING CORP | 45828L108 | 266,001 | $2.7M | 0.04% |
| 94 | TOURMALINE BIO INC | 89157D105 | 55,412 | $2.7M | 0.04% |
| 95 | PROS HOLDINGS INC | 74346Y103 | 115,061 | $2.6M | 0.04% |
| 96 | CITY OFFICE REIT INC | CHCO | 375,233 | $2.6M | 0.04% |
| 97 | MAC COPPER LTD | G60409110 | 212,545 | $2.6M | 0.04% |
| 98 | TEGNA INC | 87901J105 | 123,716 | $2.5M | 0.04% |
| 99 | HILTON WORLDWIDE HOLDINGS INC | HLT | 9,603 | $2.5M | 0.04% |
| 100 | MARRIOTT INTERNATIONAL INC/MD | 571903202 | 9,530 | $2.5M | 0.04% |
| 101 | SHERWIN-WILLIAMS CO/THE | SHW | 6,964 | $2.4M | 0.04% |
| 102 | TENCENT MUSIC ENTERTAINMENT GROUP | XHLD | 100,177 | $2.3M | 0.03% |
| 103 | TASKUS INC | TASK | 121,507 | $2.2M | 0.03% |
| 104 | ORLA MINING LTD | 68634K106 | 179,881 | $1.9M | 0.03% |
| 105 | GAOTU TECHEDU INC | GOTU | 440,947 | $1.4M | 0.02% |
| 106 | QUALCOMM INC | QCOM | 8,000 | $1.3M | 0.02% |
| 107 | AMPHENOL CORP | 032095101 | 69,749 | $1.3M | 0.02% |
| 108 | CUREVAC NV | N2451R105 | 235,180 | $1.3M | 0.02% |
| 109 | LAUREATE EDUCATION INC | LAUR | 40,000 | $1.3M | 0.02% |
| 110 | YETI HOLDINGS INC | YETI | 37,303 | $1.2M | 0.02% |
| 111 | ASTERA LABS INC | ALAB | 6,000 | $1.2M | 0.02% |
| 112 | EHANG HOLDINGS LTD | EH | 62,673 | $1.2M | 0.02% |
| 113 | ORACLE CORP | ORCL-PD | 4,000 | $1.1M | 0.02% |
| 114 | QFIN HOLDINGS INC | QFNHF | 39,081 | $1.1M | 0.02% |
| 115 | SAPIENS INTERNATIONAL CORP NV | G7T16G103 | 20,027 | $861,161 | 0.01% |
| 116 | SURMODICS INC | 868873100 | 27,622 | $825,622 | 0.01% |
| 117 | INTERNATIONAL MONEY EXPRESS INC | INTR | 45,802 | $639,854 | 0.01% |
| 118 | DELL TECHNOLOGIES INC | DELL | 4,193 | $594,442 | 0.01% |
| 119 | FIRST SOLAR INC | FSLR | 2,180 | $480,755 | 0.01% |
| 120 | CLEARSIDE BIOMEDICAL INC | CLSDQ | 100,556 | $399,207 | 0.01% |
| 121 | PELOTON INTERACTIVE INC | PTON | 39,484 | $355,356 | 0.01% |
| 122 | GLOBANT SA | GLOB | 4,000 | $229,520 | 0.00% |
| 123 | TESLA INC | TSLA | 500 | $222,360 | 0.00% |
| 124 | WIDEOPENWEST INC | 96758W101 | 40,038 | $206,596 | 0.00% |
| 125 | GARMIN LTD | GRMN | 800 | $196,976 | 0.00% |
| 126 | COINBASE GLOBAL INC | COIN | 559 | $188,657 | 0.00% |
| 127 | UNITEDHEALTH GROUP INC | UNH | 114,700 | $39,606 | 0.00% |
| 128 | UNITEDHEALTH GROUP INC | UNH | 95,200 | $32,873 | 0.00% |
| 129 | UNITED PARCEL SERVICE INC | UPS | 369,200 | $30,839 | 0.00% |
| 130 | PELOTON INTERACTIVE INC | PTON | 986,000 | $8,874 | 0.00% |
| 131 | PELOTON INTERACTIVE INC | PTON | 780,000 | $7,020 | 0.00% |
| 132 | AMAZON.COM INC | AMZN | 12,000 | $2,635 | 0.00% |
| 133 | MERIDIANLINK INC | MRDN | 107 | $2,133 | 0.00% |
| 134 | NIKE INC | NKE | 19,900 | $1,388 | 0.00% |
| 135 | ROCKET LAB CORP | RKLB | 17,100 | $819 | 0.00% |
| 136 | ROCKET LAB CORP | RKLB | 7,000 | $335 | 0.00% |