Holdings of Carmignac Portfolio Patrimoine Europe
Carmignac Gestion Luxembourg S.A. · 113 declared positions · as of Dec 31, 2025
Fund report · Net assets 490.8M € · Ten largest lines: 30.9 % of net assets
Country breakdown
- France 19.7 %
- Netherlands 14.3 %
- Spain 11.5 %
- Germany 11.4 %
- Ireland 7.7 %
- Italy 7.7 %
- United Kingdom 7.2 %
- Belgium 5.5 %
- Switzerland 4.6 %
- Denmark 2.9 %
- Sweden 2.2 %
- Others 5.3 %
Countries from the fund report. Weights in % of net assets.
Currency breakdown
- EUR 86.4 %
- USD 3.6 %
- CHF 3.6 %
- DKK 2.9 %
- GBP 2.2 %
- SEK 1.3 %
The quoted currency of each line, as declared.
Positions
| Rank | Company | Currency | Shares | Value | Weight |
|---|---|---|---|---|---|
| 1 | NT CONS FIN ZCP 03-03-26 Spain | EUR | 30,500,000 | 30.4M € | 6.19 % |
| 2 | REPUBLIQUE FEDERALE D GERMANY 0.5% 15-02-26 Germany | EUR | 19,750,000 | 19.7M € | 4.02 % |
| 3 | ACQUIRENTE UNI 2.8% 20-02-26 Italy | EUR | 19,000,000 | 19M € | 3.87 % |
| 4 | IBERDROLA INTL BV ZCP 17-02-26 Netherlands | EUR | 18,000,000 | 18M € | 3.66 % |
| 5 | SUMITOMO MITSUI BANKING CORP BRU BRANCH ZCP 18-02 Belgium | EUR | 15,000,000 | 15M € | 3.05 % |
| 6 | CA ZCP 21-01-26 France | EUR | 10,000,000 | 10M € | 2.04 % |
| 7 | ENGIE ZCP 28-01-26 France | EUR | 10,000,000 | 10M € | 2.03 % |
| 8 | MITSUBISHI CORPORATION FINANCE ZCP 16-02-26 United Kingdom | EUR | 10,000,000 | 10M € | 2.03 % |
| 9 | CA ZCP 23-02-26 France | EUR | 10,000,000 | 10M € | 2.03 % |
| 10 | ISHARES PHYSICAL GOLD ETC Ireland | USD | 136,036 | 9.7M € | 1.97 % |
| 11 | SIEMENS AG-REG Germany | EUR | 36,472 | 8.7M € | 1.78 % |
| 12 | ASML HOLDING NV Netherlands | EUR | 8,991 | 8.3M € | 1.69 % |
| 13 | BNP PAR 3.945% 18-02-37 EMTN France | EUR | 8,100,000 | 8.1M € | 1.66 % |
| 14 | BPCE 4.5% 13-01-33 EMTN France | EUR | 6,800,000 | 7.1M € | 1.45 % |
| 15 | SAN MARINO GOVERNMENT BOND 6.5% 19-01-27 San Marino | EUR | 6,900,000 | 7.1M € | 1.44 % |
| 16 | VIA OUTLETS BV 3.5% 29-10-32 Netherlands | EUR | 6,145,000 | 6M € | 1.22 % |
| 17 | KBC GROUPE 6.0% PERP Belgium | EUR | 5,800,000 | 6M € | 1.22 % |
| 18 | LLOYDS BANKING GROUP 4.0% 09-05-35 United Kingdom | EUR | 5,286,000 | 5.4M € | 1.09 % |
| 19 | VIA OUTLETS BV 1.75% 15-11-28 Netherlands | EUR | 5,542,000 | 5.3M € | 1.09 % |
| 20 | L'OREAL France | EUR | 14,172 | 5.2M € | 1.06 % |
| 21 | FOOD SERVICE PROJECT SL 5.5% 21-01-26 Spain | EUR | 5,000,000 | 5M € | 1.02 % |
| 22 | ABN AMRO BK ZCP 02-01-26 Netherlands | EUR | 5,000,000 | 5M € | 1.02 % |
| 23 | IBERDROLA INTL BV ZCP 10-02-26 Netherlands | EUR | 5,000,000 | 5M € | 1.02 % |
| 24 | BANCO BILBAO VIZCAYA ARGENTA Spain | EUR | 248,535 | 5M € | 1.02 % |
| 25 | UNEDIC ZCP 25-03-26 France | EUR | 5,000,000 | 5M € | 1.01 % |
| 26 | UBS GROUP AG-REG Switzerland | CHF | 123,772 | 4.9M € | 1.00 % |
| 27 | IBERDROLA INTL BV ZCP 26-01-26 Netherlands | EUR | 4,900,000 | 4.9M € | 1.00 % |
| 28 | UBS GROUP AG 9.25% PERP Switzerland | USD | 4,800,000 | 4.5M € | 0.92 % |
| 29 | OTP BANK 6.125% 05-10-27 EMTN Hungary | EUR | 4,250,000 | 4.4M € | 0.89 % |
| 30 | HERMES INTERNATIONAL France | EUR | 2,036 | 4.3M € | 0.88 % |
| 31 | SAP SE Germany | EUR | 20,277 | 4.2M € | 0.86 % |
| 32 | UNILEVER PLC United Kingdom | GBP | 74,398 | 4.1M € | 0.84 % |
| 33 | HSBC 4.191% 19-05-36 EMTN United Kingdom | EUR | 4,072,000 | 4.1M € | 0.84 % |
| 34 | CARLYLE EURO CLO 20213 DAC E3R+3.5% 15-02-36 Ireland | EUR | 4,000,000 | 4M € | 0.82 % |
| 35 | NOVO NORDISK A/S-B Denmark | DKK | 91,400 | 4M € | 0.81 % |
| 36 | AUTOSTRADE PER L ITALILIA 2.25% 25-01-32 Italy | EUR | 4,000,000 | 3.7M € | 0.76 % |
| 37 | PALMER SQUARE EUROPEAN CLO 20212 DAC E3R+3.3% 21-01-35 Ireland | EUR | 3,400,000 | 3.4M € | 0.69 % |
| 38 | PRYSMIAN SPA Italy | EUR | 39,024 | 3.4M € | 0.69 % |
| 39 | SAMHALLSBYGGNAD FL.R 20-XX 30/04A Sweden | EUR | 4,445,000 | 3.3M € | 0.68 % |
| 40 | SCHNEIDER ELECTRIC SE France | EUR | 13,704 | 3.2M € | 0.66 % |
| 41 | BBVA 5.75% 15-09-33 EMTN Spain | EUR | 3,000,000 | 3.2M € | 0.65 % |
| 42 | ALCON INC Switzerland | CHF | 46,362 | 3.2M € | 0.64 % |
| 43 | WERFENLIFE 4.625% 06-06-28 Spain | EUR | 3,000,000 | 3.1M € | 0.63 % |
| 44 | ORANGE 3.875% PERP EMTN France | EUR | 3,100,000 | 3.1M € | 0.63 % |
| 45 | UNICREDIT 4.8% 17-01-29 EMTN Italy | EUR | 2,976,000 | 3M € | 0.61 % |
| 46 | EURONEXT NV Netherlands | EUR | 23,442 | 3M € | 0.61 % |
| 47 | DSV A/S Denmark | DKK | 13,676 | 3M € | 0.60 % |
| 48 | ASSA ABLOY AB-B Sweden | SEK | 87,058 | 2.9M € | 0.59 % |
| 49 | CAIRN CLO XII DAC E3R+6.42% 15-07-34 Ireland | EUR | 2,800,000 | 2.8M € | 0.57 % |
| 50 | CARLYLE GLOBAL MKT EURO CLO 20152 E3R+3.7% 10-11-35 Ireland | EUR | 2,800,000 | 2.8M € | 0.57 % |
| 51 | PERSHING SQUARE 1.375% 01-10-27 Guernsey | EUR | 2,800,000 | 2.7M € | 0.56 % |
| 52 | KINGSPAN GROUP PLC Ireland | EUR | 36,667 | 2.7M € | 0.55 % |
| 53 | BNP PAR 7.375% PERP France | EUR | 2,400,000 | 2.6M € | 0.54 % |
| 54 | NATWEST GROUP 5.763% 28-02-34 United Kingdom | EUR | 2,450,000 | 2.6M € | 0.53 % |
| 55 | TIKEHAU CLO VI DESIGNATED ACTI E3R+3.6% 15-01-35 Ireland | EUR | 2,600,000 | 2.6M € | 0.53 % |
| 56 | NATL BANK OF GREECE 8.0% 03-01-34 Greece | EUR | 2,300,000 | 2.6M € | 0.52 % |
| 57 | FINECOBANK SPA Italy | EUR | 110,580 | 2.5M € | 0.50 % |
| 58 | NOVONESIS (NOVOZYMES) B Denmark | DKK | 44,294 | 2.4M € | 0.49 % |
| 59 | EXPERIAN PLC Ireland | GBP | 62,483 | 2.4M € | 0.49 % |
| 60 | BK LC LUX FINCO1 SARL 5.25% 30-04-29 Luxembourg | EUR | 2,335,000 | 2.4M € | 0.48 % |
| 61 | NORDNET AB PUBL Sweden | SEK | 92,976 | 2.3M € | 0.47 % |
| 62 | ALPHA BANK 6.0% 13-09-34 EMTN Greece | EUR | 2,045,000 | 2.2M € | 0.45 % |
| 63 | SARTORIUS AG Germany | EUR | 11,544 | 2.2M € | 0.45 % |
| 64 | DEUTSCHE BOERSE AG Germany | EUR | 9,853 | 2.2M € | 0.45 % |
| 65 | ADYEN NV Netherlands | EUR | 1,600 | 2.2M € | 0.45 % |
| 66 | AMBER FIN 6.625% 15-07-29 United Kingdom | EUR | 2,070,000 | 2.2M € | 0.44 % |
| 67 | SIKA AG-REG Switzerland | CHF | 12,367 | 2.2M € | 0.44 % |
| 68 | BEIERSDORF AG Germany | EUR | 22,134 | 2.1M € | 0.42 % |
| 69 | ARGENX SE Netherlands | EUR | 2,839 | 2M € | 0.41 % |
| 70 | LONZA GROUP AG-REG Switzerland | CHF | 3,511 | 2M € | 0.41 % |
| 71 | EMEIS E6R+4.75% 31-12-31 France | EUR | 2,000,000 | 2M € | 0.41 % |
| 72 | CAPGEMINI SE France | EUR | 13,797 | 2M € | 0.40 % |
| 73 | BANCO SANTANDER ALL SPAIN BRANCH 7.0% PERP Spain | EUR | 1,800,000 | 1.9M € | 0.40 % |
| 74 | SPIE SA France | EUR | 38,692 | 1.9M € | 0.39 % |
| 75 | ACCOR 2.375% 29-11-28 France | EUR | 1,900,000 | 1.9M € | 0.38 % |
| 76 | GALDERMA GROUP AG Switzerland | CHF | 10,117 | 1.8M € | 0.36 % |
| 77 | FINNAIR 4.75% 24-05-29 Finland | EUR | 1,700,000 | 1.7M € | 0.36 % |
| 78 | IMCD NV Netherlands | EUR | 22,529 | 1.7M € | 0.35 % |
| 79 | BK IRELAND GROUP 4.875% 16-07-28 Ireland | EUR | 1,664,000 | 1.7M € | 0.35 % |
| 80 | BECHTLE AG Germany | EUR | 39,211 | 1.7M € | 0.35 % |
| 81 | STRAUMANN HOLDING AG-REG Switzerland | CHF | 16,129 | 1.6M € | 0.33 % |
| 82 | KION GROUP AG Germany | EUR | 23,341 | 1.6M € | 0.32 % |
| 83 | EMEIS SA France | EUR | 109,748 | 1.6M € | 0.32 % |
| 84 | AZELIS FINANCE NV 4.75% 25-09-29 Belgium | EUR | 1,517,000 | 1.6M € | 0.32 % |
| 85 | ESSILORLUXOTTICA France | EUR | 5,706 | 1.5M € | 0.31 % |
| 86 | SYMRISE AG Germany | EUR | 22,274 | 1.5M € | 0.31 % |
| 87 | ELIS SA France | EUR | 62,427 | 1.5M € | 0.31 % |
| 88 | GENMAB A/S Denmark | DKK | 5,564 | 1.5M € | 0.31 % |
| 89 | SARTORIUS STEDIM BIOTECH France | EUR | 7,106 | 1.5M € | 0.30 % |
| 90 | BARRY CAL 4.25% 19-08-31 Belgium | EUR | 1,400,000 | 1.4M € | 0.29 % |
| 91 | BIONTECH SE-ADR Germany | USD | 17,488 | 1.4M € | 0.29 % |
| 92 | AURIUM CLO IX DAC E3R+6.7% 28-10-34 Ireland | EUR | 1,250,000 | 1.3M € | 0.26 % |
| 93 | CASA ASSURANCES 6.25% PERP France | EUR | 1,200,000 | 1.3M € | 0.26 % |
| 94 | DASSAULT SYSTEMES SE France | EUR | 52,332 | 1.2M € | 0.25 % |
| 95 | FLATEXDEGIRO SE Germany | EUR | 33,172 | 1.2M € | 0.25 % |
| 96 | ADIDAS AG Germany | EUR | 7,182 | 1.2M € | 0.25 % |
| 97 | DEMANT A/S Denmark | DKK | 41,352 | 1.2M € | 0.24 % |
| 98 | FINEBANK BANCA FINE 7.5% PERP Italy | EUR | 1,050,000 | 1.1M € | 0.23 % |
| 99 | CA 7.25% PERP EMTN France | EUR | 1,000,000 | 1.1M € | 0.22 % |
| 100 | WISE PLC - A United Kingdom | GBP | 102,511 | 1M € | 0.21 % |
| 101 | ASN BANK NV 4.625% 23-11-27 Netherlands | EUR | 1,000,000 | 1M € | 0.21 % |
| 102 | NEMETSCHEK SE Germany | EUR | 10,515 | 975.8K € | 0.20 % |
| 103 | RELX PLC United Kingdom | GBP | 26,348 | 911.3K € | 0.19 % |
| 104 | OTTOBOCK SE & CO KGAA Germany | EUR | 13,933 | 909.1K € | 0.19 % |
| 105 | ASHTEAD GROUP PLC United Kingdom | GBP | 15,591 | 908.2K € | 0.19 % |
| 106 | BANCO DE BADELL 6.5% PERP Spain | EUR | 800,000 | 835.8K € | 0.17 % |
| 107 | ZEALAND PHARMA A/S Denmark | DKK | 13,338 | 832.9K € | 0.17 % |
| 108 | FERRARI NV Italy | EUR | 2,583 | 823.2K € | 0.17 % |
| 109 | SAMHALLSBYGGNADSBOLAGET I NORDEN AB 2.875% PERP Sweden | EUR | 1,000,000 | 734.8K € | 0.15 % |
| 110 | AMADEUS IT GROUP SA Spain | EUR | 11,169 | 701.9K € | 0.14 % |
| 111 | ERSTE GROUP BANK AG Austria | EUR | 6,245 | 642.6K € | 0.13 % |
| 112 | ASKER HEALTHCARE GROUP AB Sweden | SEK | 60,704 | 473.2K € | 0.10 % |
| 113 | MAGNUM ICE CREAM CO NV/THE Netherlands | GBP | 16,739 | 225.7K € | 0.05 % |
Source: report published by Carmignac Portfolio Patrimoine Europe.