Exane Asset Management
PARIS, I0
$277m in 28 US stocks at the end of 30 June 2026. The top 10 are 64.8% of the money. It changed about 46.8% of the portfolio this quarter.
Value
$277m
Stocks
28
Top 10 share
64.8%
Turnover
46.8%
What changed this quarter
New
Bought for the first time this quarter.
- Deutsche Bank AktiengesellschaftDB6.9% of the fund
- International Flavors & FragrancesIFF6.1% of the fund
- Palo Alto NetworksPANW3.9% of the fund
- FigmaFIG3.2% of the fund
- Take TWO Interactive SoftwareTTWO3.0% of the fund
- AirbnbABNB2.7% of the fund
- ZscalerZS1.7% of the fund
- SalesforceCRM1.5% of the fund
Added
Bought more of a stock they already held.
- SnowflakeSNOW5.4% of the fund+145%
- ShopifySHOP3.7% of the fund+6%
- Guidewire SoftwareGWRE1.5% of the fund+2828%
- Logitech InternationalLOGI<0.1% of the fund+24%
Cut
Sold some of their stake.
- Smurfit WestrockSW10.7% of the fund-33%
- FerrovialFER9.1% of the fund-33%
- Spotify TechnologySPOT7.9% of the fund-19%
- AstrazenecaAZN6.4% of the fund-51%
- DatadogDDOG4.4% of the fund-45%
- Meta PlatformsMETA4.1% of the fund-65%
- DoorDashDASH3.9% of the fund-61%
- Amazon.comAMZN3.8% of the fund-71%
- CRH PublicCRH3.1% of the fund-75%
- UBS Group AGUBS3.0% of the fund-90%
- AmrizeAMRZ2.3% of the fund-75%
- CrowdStrike HoldingsCRWD1.6% of the fund-44%
- TotalEnergies SETTE<0.1% of the fund-85%
- AccentureACN<0.1% of the fund-95%
- AlconALC<0.1% of the fund-29%
- IntuitINTU<0.1% of the fund-100%
Sold out
Sold their entire stake.
- LindeLIN-100%
- NetflixNFLX-100%
- QXOQXO-100%
- StellantisSTLA-100%
- Boston ScientificBSX-100%
- Birkenstock HoldingBIRK-100%
- MongoDBMDB-100%
- HubspotHUBS-100%
- AtlassianTEAM-100%
- ServiceNowNOW-100%
- Booking HoldingsBKNG-100%
- Procore TechnologiesPCOR-100%
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Smurfit WestrockSW | 10.7% | $30m | 558,692 | -33% |
| FerrovialFER | 9.1% | $25m | 368,047 | -33% |
| Spotify TechnologySPOT | 7.9% | $22m | 41,511 | -19% |
| Deutsche Bank AktiengesellschaftDB | 6.9% | $19m | 565,061 | New |
| AstrazenecaAZN | 6.4% | $18m | 109,781 | -51% |
| International Flavors & FragrancesIFF | 6.1% | $17m | 185,402 | New |
| SnowflakeSNOW | 5.4% | $15m | 51,595 | +145% |
| DatadogDDOG | 4.4% | $12m | 40,740 | -45% |
| Meta PlatformsMETA | 4.1% | $11m | 17,759 | -65% |
| Palo Alto NetworksPANW | 3.9% | $11m | 27,400 | New |
| DoorDashDASH | 3.9% | $11m | 50,522 | -61% |
| Amazon.comAMZN | 3.8% | $10m | 38,276 | -71% |
| ShopifySHOP | 3.7% | $10m | 78,325 | +6% |
| FigmaFIG | 3.2% | $9m | 430,581 | New |
| CRH PublicCRH | 3.1% | $8m | 69,018 | -75% |
| UBS Group AGUBS | 3.0% | $8m | 180,748 | -90% |
| Take TWO Interactive SoftwareTTWO | 3.0% | $8m | 28,748 | New |
| AirbnbABNB | 2.7% | $8m | 46,200 | New |
| AmrizeAMRZ | 2.3% | $6m | 129,703 | -75% |
| ZscalerZS | 1.7% | $5m | 28,963 | New |
| CrowdStrike HoldingsCRWD | 1.6% | $5m | 5,211 | -44% |
| Guidewire SoftwareGWRE | 1.5% | $4m | 30,390 | +2828% |
| SalesforceCRM | 1.5% | $4m | 23,841 | New |
| TotalEnergies SETTE | <0.1% | $164,459 | 2,115 | -85% |
| Logitech InternationalLOGI | <0.1% | $124,749 | 1,441 | +24% |
| AccentureACN | <0.1% | $104,657 | 736 | -95% |
| AlconALC | <0.1% | $57,353 | 919 | -29% |
| IntuitINTU | <0.1% | $13,720 | 46 | -100% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 8.0% since 30 June 2025.
Where the money is
Technology27.1%
Materials22.1%
Media & telecom15.0%
Retail & consumer10.4%
Financial services9.9%
Industrials9.1%
Health care6.4%
Energy0.1%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.