Holdings of Carmignac Portfolio Emergents
Carmignac Gestion Luxembourg S.A. · 46 declared positions · as of Dec 31, 2025
Fund report · Net assets 551.9M € · Ten largest lines: 42.6 % of net assets
Country breakdown
- China 19.4 %
- Taiwan 16.9 %
- India 15.3 %
- South Korea 14.2 %
- Brazil 6.5 %
- Mexico 6.4 %
- Netherlands 3.6 %
- Singapore 3.1 %
- Hong Kong 3.0 %
- Uruguay 2.7 %
- Malaysia 2.5 %
- Others 6.6 %
Countries from the fund report. Weights in % of net assets.
Currency breakdown
- USD 18.0 %
- TWD 16.9 %
- INR 15.3 %
- KRW 14.2 %
- HKD 10.7 %
- BRL 6.5 %
- EUR 5.9 %
- MXN 5.1 %
- CNY 2.9 %
- MYR 2.5 %
- IDR 2.1 %
The quoted currency of each line, as declared.
Positions
| Rank | Company | Currency | Shares | Value | Weight |
|---|---|---|---|---|---|
| 1 | TAIWAN SEMICONDUCTOR MANUFAC Taiwan | TWD | 1,226,130 | 51.5M € | 9.33 % |
| 2 | SK HYNIX INC South Korea | KRW | 100,942 | 38.8M € | 7.04 % |
| 3 | DIDI GLOBAL INC China | USD | 4,826,955 | 21.7M € | 3.93 % |
| 4 | GRUPO FINANCIERO BANORTE-O Mexico | MXN | 2,733,689 | 21.6M € | 3.92 % |
| 5 | EMBASSY OFFICE PARKS REIT India | INR | 4,481,807 | 18.5M € | 3.35 % |
| 6 | PROSUS NV Netherlands | EUR | 330,936 | 17.5M € | 3.17 % |
| 7 | VIPSHOP HOLDINGS LTD - ADR China | USD | 1,144,923 | 17.2M € | 3.12 % |
| 8 | HYUNDAI MOTOR CO South Korea | KRW | 95,384 | 16.7M € | 3.03 % |
| 9 | KOTAK MAHINDRA BANK LTD India | INR | 785,093 | 16.4M € | 2.97 % |
| 10 | SEA LTD-ADR Singapore | USD | 137,479 | 14.9M € | 2.71 % |
| 11 | HONG KONG EXCHANGES & CLEAR Hong Kong | HKD | 331,665 | 14.8M € | 2.68 % |
| 12 | CONTEMPORARY AMPEREX TECHN-A China | CNY | 317,100 | 14.2M € | 2.57 % |
| 13 | ICICI LOMBARD GENERAL INSURA India | INR | 710,983 | 13.2M € | 2.39 % |
| 14 | MERCADOLIBRE INC Uruguay | USD | 7,681 | 13.2M € | 2.39 % |
| 15 | AXIA ENERGIA Brazil | BRL | 1,573,617 | 12.4M € | 2.24 % |
| 16 | IHH HEALTHCARE BHD Malaysia | MYR | 6,529,740 | 12M € | 2.17 % |
| 17 | ELITE MATERIAL CO LTD Taiwan | TWD | 265,004 | 11.8M € | 2.14 % |
| 18 | CARMIGNAC EMERGENTS Z EUR ACC France | EUR | 915 | 11.2M € | 2.04 % |
| 19 | BANK CENTRAL ASIA TBK PT Indonesia | IDR | 25,276,174 | 10.4M € | 1.89 % |
| 20 | ASIA VITAL COMPONENTS Taiwan | TWD | 245,693 | 10.1M € | 1.82 % |
| 21 | NEXUS SELECT TRUST India | INR | 6,554,262 | 9.6M € | 1.74 % |
| 22 | LITE-ON TECHNOLOGY CORP Taiwan | TWD | 1,972,626 | 8.7M € | 1.58 % |
| 23 | TENCENT HOLDINGS LTD China | HKD | 116,660 | 7.6M € | 1.39 % |
| 24 | AXIA ENERGIA-PR B Brazil | BRL | 889,849 | 7.2M € | 1.31 % |
| 25 | ANTA SPORTS PRODUCTS LTD China | HKD | 800,478 | 7.1M € | 1.28 % |
| 26 | CORP INMOBILIARIA VESTA-ADR Mexico | USD | 236,669 | 6.1M € | 1.11 % |
| 27 | PB FINTECH LTD India | INR | 354,842 | 6.1M € | 1.11 % |
| 28 | HORIZON ROBOTICS INC Cayman Islands | HKD | 6,433,800 | 6.1M € | 1.10 % |
| 29 | DABUR INDIA LTD India | INR | 1,255,498 | 6M € | 1.09 % |
| 30 | LG CHEM LTD South Korea | KRW | 29,604 | 5.8M € | 1.06 % |
| 31 | H WORLD GROUP LTD-ADR China | USD | 139,201 | 5.6M € | 1.01 % |
| 32 | EQUATORIAL SA - ORD Brazil | BRL | 890,394 | 5.3M € | 0.97 % |
| 33 | AXIA ENERGIA-PR C Brazil | BRL | 647,492 | 4.9M € | 0.90 % |
| 34 | NEW ORIENTAL EDUCATIO-SP ADR China | USD | 101,329 | 4.7M € | 0.86 % |
| 35 | NEW ORIENTAL EDUCATION & TEC China | HKD | 1,016,630 | 4.7M € | 0.85 % |
| 36 | HAIER SMART HOME CO LTD-H China | HKD | 1,739,571 | 4.6M € | 0.84 % |
| 37 | JSC KASPI.KZ ADR Kazakhstan | USD | 64,668 | 4.3M € | 0.78 % |
| 38 | KE HOLDINGS INC-CL A China | HKD | 777,733 | 3.5M € | 0.64 % |
| 39 | MINISO GROUP HOLDING LTD China | HKD | 878,731 | 3.5M € | 0.63 % |
| 40 | HYUNDAI MOTOR CO LTD PREF 2 NVTG South Korea | KRW | 27,573 | 3.5M € | 0.63 % |
| 41 | CORP INMOBILIARIA VESTA SAB Mexico | MXN | 1,273,068 | 3.3M € | 0.60 % |
| 42 | BRAINBEES SOLUTIONS LTD India | INR | 1,213,937 | 3.3M € | 0.60 % |
| 43 | LG CHEM LTD-PREFERENCE South Korea | KRW | 24,135 | 2.4M € | 0.43 % |
| 44 | HYUNDAI MOTOR CO LTD PREF NVTG South Korea | KRW | 14,093 | 1.7M € | 0.31 % |
| 45 | HAPVIDA PARTICIPACOES E INVE Brazil | BRL | 693,141 | 1.6M € | 0.29 % |
| 46 | FIVE-STAR BUSINESS FINANCE L India | INR | 259,576 | 1.3M € | 0.24 % |
Source: report published by Carmignac Portfolio Emergents.