13F HOLDINGS REPORT
Carmignac Gestion
Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0000945621-26-000299
Total Value
$7.39B
Positions
124
Other Managers
0
Confidential Omitted
No
Holdings (124)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | NVIDIA CORP | NVDA | 3,635,106 | $678.0M | 9.17% |
| 2 | MICROSOFT CORP | MSFT | 1,061,153 | $513.3M | 6.94% |
| 3 | S&P GLOBAL INC | SPGI | 864,840 | $452.0M | 6.11% |
| 4 | ALPHABET INC | GOOG | 1,347,106 | $421.7M | 5.70% |
| 5 | AMAZON.COM INC | AMZN | 1,577,739 | $364.2M | 4.93% |
| 6 | CENCORA INC | COR | 875,095 | $295.6M | 4.00% |
| 7 | MCKESSON CORP | MCK | 358,535 | $294.1M | 3.98% |
| 8 | MERCADOLIBRE INC | MELI | 141,373 | $284.8M | 3.85% |
| 9 | SALESFORCE INC | CRM | 1,008,151 | $267.1M | 3.61% |
| 10 | SERVICENOW INC | NOW | 1,734,925 | $265.8M | 3.59% |
| 11 | TRADEWEB MARKETS INC | 892672106 | 2,214,400 | $238.1M | 3.22% |
| 12 | INTERCONTINENTAL EXCHANGE INC | 45866F104 | 1,375,560 | $222.8M | 3.01% |
| 13 | BLOCK INC | BSQKZ | 3,417,826 | $222.5M | 3.01% |
| 14 | ATLASSIAN CORP | TEAM | 1,206,368 | $195.6M | 2.65% |
| 15 | SLB LTD | SLB | 4,669,456 | $179.2M | 2.42% |
| 16 | MASTERCARD INC | MA | 299,595 | $171.1M | 2.31% |
| 17 | EQUIFAX INC | EFX | 750,015 | $162.8M | 2.20% |
| 18 | AMPHENOL CORP | 032095101 | 1,194,200 | $161.4M | 2.18% |
| 19 | ARISTA NETWORKS INC | ANET | 1,093,784 | $143.3M | 1.94% |
| 20 | ACCENTURE PLC | ACN | 532,041 | $142.7M | 1.93% |
| 21 | COLGATE-PALMOLIVE CO | CL | 1,153,391 | $91.2M | 1.23% |
| 22 | VERTEX PHARMACEUTICALS INC | VRTX | 191,571 | $86.9M | 1.17% |
| 23 | DOXIMITY INC | DOCS | 1,893,026 | $83.8M | 1.13% |
| 24 | THERMO FISHER SCIENTIFIC INC | TMO | 140,037 | $81.2M | 1.10% |
| 25 | LANTHEUS HOLDINGS INC | LNTH | 1,122,000 | $74.7M | 1.01% |
| 26 | VIPSHOP HOLDINGS LTD | VIPS | 4,161,154 | $73.7M | 1.00% |
| 27 | SEA LTD | SE | 516,426 | $65.9M | 0.89% |
| 28 | AIRBNB INC | ABNB | 468,370 | $63.6M | 0.86% |
| 29 | ITAU UNIBANCO HOLDING SA | 465562106 | 7,152,585 | $51.2M | 0.69% |
| 30 | NOVO NORDISK A/S | NONOF | 1,003,300 | $51.0M | 0.69% |
| 31 | PROCTER & GAMBLE CO/THE | 742718109 | 346,492 | $49.7M | 0.67% |
| 32 | GITLAB INC | GTLB | 1,310,000 | $49.2M | 0.66% |
| 33 | BROADCOM INC | AVGO | 139,080 | $48.1M | 0.65% |
| 34 | FRANCO-NEVADA CORP | FNV | 225,511 | $46.7M | 0.63% |
| 35 | AGNICO EAGLE MINES LTD | AEM | 268,511 | $45.5M | 0.62% |
| 36 | KEYSIGHT TECHNOLOGIES INC | KEYS | 213,000 | $43.3M | 0.59% |
| 37 | SPROUTS FARMERS MARKET INC | 85208M102 | 530,000 | $42.2M | 0.57% |
| 38 | REGENERON PHARMACEUTICALS INC | REGN | 49,971 | $38.6M | 0.52% |
| 39 | ALIGN TECHNOLOGY INC | ALGN | 246,101 | $38.4M | 0.52% |
| 40 | NETFLIX INC | NFLX | 398,362 | $37.4M | 0.51% |
| 41 | GLOBE LIFE INC | GL-PD | 265,000 | $37.1M | 0.50% |
| 42 | META PLATFORMS INC | META | 44,331 | $29.3M | 0.40% |
| 43 | NEWMONT CORP | NEMCL | 268,134 | $26.8M | 0.36% |
| 44 | VESTA REAL ESTATE CORP | VTMX | 796,215 | $24.3M | 0.33% |
| 45 | H WORLD GROUP LTD | HWLDF | 469,601 | $22.1M | 0.30% |
| 46 | KIMBERLY-CLARK CORP | KMB | 203,068 | $20.5M | 0.28% |
| 47 | NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC | 647581206 | 369,289 | $20.3M | 0.28% |
| 48 | FREEPORT-MCMORAN INC | FCX | 384,504 | $19.5M | 0.26% |
| 49 | KASPI.KZ JSC | 48581R205 | 228,970 | $17.9M | 0.24% |
| 50 | LULULEMON ATHLETICA INC | LULU | 74,300 | $15.4M | 0.21% |
| 51 | HOME DEPOT INC/THE | HD | 42,046 | $14.5M | 0.20% |
| 52 | BIONTECH SE | BNTX | 144,087 | $13.7M | 0.19% |
| 53 | ALAMOS GOLD INC | AGI | 329,968 | $12.7M | 0.17% |
| 54 | CLOROX CO/THE | CLX | 122,977 | $12.4M | 0.17% |
| 55 | OWENS CORNING | OC | 105,800 | $11.8M | 0.16% |
| 56 | CHART INDUSTRIES INC | 16115Q308 | 55,842 | $11.5M | 0.16% |
| 57 | FRONTIER COMMUNICATIONS PARENT INC | 35909D109 | 290,833 | $11.1M | 0.15% |
| 58 | CANTALOUPE INC | CTLPP | 977,158 | $10.4M | 0.14% |
| 59 | COMERICA INC | 200340107 | 107,873 | $9.4M | 0.13% |
| 60 | NEUROCRINE BIOSCIENCES INC | NBIX | 63,600 | $9.0M | 0.12% |
| 61 | EXACT SCIENCES CORP | 30063P105 | 81,354 | $8.3M | 0.11% |
| 62 | AIR LEASE CORP | AIIR | 125,849 | $8.1M | 0.11% |
| 63 | DENNY'S CORP | 24869P104 | 1,285,703 | $8.0M | 0.11% |
| 64 | CSG SYSTEMS INTERNATIONAL INC | 126349109 | 103,097 | $7.9M | 0.11% |
| 65 | TWILIO INC | TWLO | 50,000 | $7.1M | 0.10% |
| 66 | CLEARWATER ANALYTICS HOLDINGS INC | CWAN | 288,126 | $6.9M | 0.09% |
| 67 | SOHO HOUSE & CO INC | 586001109 | 741,722 | $6.6M | 0.09% |
| 68 | VERTIV HOLDINGS CO | VRT | 40,000 | $6.5M | 0.09% |
| 69 | AMERICAN WOODMARK CORP | AMWD | 115,255 | $6.2M | 0.08% |
| 70 | INTUIT INC | INTU | 9,179 | $6.1M | 0.08% |
| 71 | ELECTRONIC ARTS INC | EA | 28,740 | $5.9M | 0.08% |
| 72 | DAYFORCE INC | 15677J108 | 79,728 | $5.5M | 0.07% |
| 73 | WARNER BROS DISCOVERY INC | WBD | 185,955 | $5.4M | 0.07% |
| 74 | PROASSURANCE CORP | PRA | 217,263 | $5.2M | 0.07% |
| 75 | KLA CORP | KLAC | 4,000 | $4.9M | 0.07% |
| 76 | CISCO SYSTEMS INC | CSCO | 58,345 | $4.5M | 0.06% |
| 77 | HOLOGIC INC | HOLX | 56,387 | $4.2M | 0.06% |
| 78 | AVIDITY BIOSCIENCES INC | 05370A108 | 57,938 | $4.2M | 0.06% |
| 79 | CIDARA THERAPEUTICS INC | 171757206 | 18,896 | $4.2M | 0.06% |
| 80 | JANUS HENDERSON GROUP PLC | JHG | 87,299 | $4.2M | 0.06% |
| 81 | CONFLUENT INC | 20717M103 | 136,922 | $4.1M | 0.06% |
| 82 | APPLE INC | AAPL | 14,979 | $4.1M | 0.06% |
| 83 | COSTCO WHOLESALE CORP | 22160K105 | 4,653 | $4.0M | 0.05% |
| 84 | VISA INC | V | 10,552 | $3.7M | 0.05% |
| 85 | JPMORGAN CHASE & CO | VYLD | 11,400 | $3.7M | 0.05% |
| 86 | CADENCE DESIGN SYSTEMS INC | CDNS | 11,586 | $3.6M | 0.05% |
| 87 | VNET GROUP INC | VNET | 394,616 | $3.3M | 0.05% |
| 88 | NEW GOLD INC | 644535106 | 379,537 | $3.3M | 0.04% |
| 89 | MARRIOTT INTERNATIONAL INC/MD | 571903202 | 10,482 | $3.3M | 0.04% |
| 90 | HILTON WORLDWIDE HOLDINGS INC | HLT | 11,045 | $3.2M | 0.04% |
| 91 | CADENCE BANK | 12740C103 | 70,869 | $3.0M | 0.04% |
| 92 | AMICUS THERAPEUTICS INC | FOLD | 194,887 | $2.8M | 0.04% |
| 93 | TXNM ENERGY INC | TXNM | 47,000 | $2.8M | 0.04% |
| 94 | HILLENBRAND INC | 431571108 | 86,224 | $2.7M | 0.04% |
| 95 | KENVUE INC | KVUE | 157,574 | $2.7M | 0.04% |
| 96 | CASEY'S GENERAL STORES INC | 147528103 | 4,800 | $2.7M | 0.04% |
| 97 | CITY OFFICE REIT INC | CHCO | 375,233 | $2.6M | 0.04% |
| 98 | ELI LILLY & CO | LLY | 2,379 | $2.6M | 0.03% |
| 99 | TEGNA INC | 87901J105 | 123,716 | $2.4M | 0.03% |
| 100 | PELOTON INTERACTIVE INC | PTON | 366,439 | $2.3M | 0.03% |
| 101 | YETI HOLDINGS INC | YETI | 49,010 | $2.2M | 0.03% |
| 102 | SHERWIN-WILLIAMS CO/THE | SHW | 5,814 | $1.9M | 0.03% |
| 103 | TENCENT MUSIC ENTERTAINMENT GROUP | XHLD | 105,310 | $1.8M | 0.02% |
| 104 | MAKEMYTRIP LTD | MMYT | 21,993 | $1.8M | 0.02% |
| 105 | ADOBE INC | ADBE | 5,000 | $1.7M | 0.02% |
| 106 | ZOOM COMMUNICATIONS INC | ZM | 20,000 | $1.7M | 0.02% |
| 107 | DYNAVAX TECHNOLOGIES CORP | 268158201 | 111,974 | $1.7M | 0.02% |
| 108 | BANK OF AMERICA CORP | 060505104 | 26,682 | $1.5M | 0.02% |
| 109 | ALIBABA GROUP HOLDING LTD | BBAAY | 9,540 | $1.4M | 0.02% |
| 110 | QUALCOMM INC | QCOM | 8,000 | $1.4M | 0.02% |
| 111 | GAOTU TECHEDU INC | GOTU | 440,947 | $1.0M | 0.01% |
| 112 | EHANG HOLDINGS LTD | EH | 76,985 | $1.0M | 0.01% |
| 113 | QFIN HOLDINGS INC | QFNHF | 39,081 | $753,091 | 0.01% |
| 114 | INTERNATIONAL MONEY EXPRESS INC | INTR | 45,802 | $703,519 | 0.01% |
| 115 | CIPHER MINING INC | 17253J106 | 47,312 | $698,325 | 0.01% |
| 116 | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 874039100 | 2,100 | $638,169 | 0.01% |
| 117 | UNITED RENTALS INC | URI | 652 | $527,677 | 0.01% |
| 118 | ANGLOGOLD ASHANTI PLC | AU | 6,122 | $522,084 | 0.01% |
| 119 | WIDEOPENWEST INC | 96758W101 | 40,038 | $208,198 | 0.00% |
| 120 | META PLATFORMS INC | META | 4,500 | $0 | 0.00% |
| 121 | NVIDIA CORP | NVDA | 10,000 | $0 | 0.00% |
| 122 | PELOTON INTERACTIVE INC | PTON | 4,064,500 | $0 | 0.00% |
| 123 | BROADCOM INC | AVGO | 6,700 | $0 | 0.00% |
| 124 | FIRSTENERGY CORP | FE | 447,100 | $0 | 0.00% |