Institutional
DNCA FINANCE
CIK 0001752759
$1.75B
Reported AUM
105
Positions
Q1 2026
Period
2026-05-14
Filed
The Brief · DNCA FINANCE · Q1 2026
AI · grounded in 13F
DNCA FINANCE established a new position in AZN valued at $107.1M. The fund also opened new stakes in FER for $36.7M and QGEN for $30.4M. On the selling side, the fund closed its position in MMM for $17.8M and significantly reduced its holdings in STLA by 95.2% and JPM by 73.9%.
Portfolio · Q1 2026
Top holdings
QoQ vs Q4 2025
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | TTE | TOTALENERGIES SE | $88.71 | -1.62% | 58.46% | 168.10% | $307.3M | 17.59% | −1,257,385 | −27.9% |
| 2 | AZN | ASTRAZENECA PLC | $185.95 | 2.28% | 29.80% | 80.46% | $107.1M | 6.13% | +552,889 | NEW |
| 3 | CRH | CRH PLC | $105.06 | -1.42% | 14.34% | 140.07% | $93.2M | 5.34% | +353,632 | +64.5% |
| 4 | RACE | FERRARI N V | $346.99 | -0.84% | -27.27% | 65.39% | $82.0M | 4.70% | +14,673 | +6.3% |
| 5 | NVDA | NVIDIA CORPORATION | $205.10 | -6.20% | 44.92% | 955.49% | $78.9M | 4.51% | +15,744 | +3.6% |
| 6 | GOOGL | ALPHABET INC | $368.53 | -0.98% | 112.92% | 175.80% | $77.5M | 4.44% | −12,650 | −4.5% |
| 7 | MSFT | MICROSOFT CORP | $416.67 | -2.66% | -10.71% | 52.39% | $60.4M | 3.46% | −17,153 | −9.5% |
| 8 | META | META PLATFORMS INC | $593.00 | -5.51% | -14.74% | 67.74% | $54.1M | 3.10% | −8,400 | −8.2% |
| 9 | WMT | WALMART INC | $118.88 | 0.97% | 22.99% | 166.67% | $52.4M | 3.00% | −22,958 | −5.2% |
| 10 | AMZN | AMAZON COM INC | $246.03 | -3.06% | 15.20% | 47.87% | $49.0M | 2.80% | +9,700 | +4.3% |
| 11 | AVGO | BROADCOM INC | $385.73 | -7.92% | 57.48% | 771.51% | $47.4M | 2.71% | +2,780 | +1.8% |
| 12 | NFLX | NETFLIX INC. | $82.18 | 0.76% | -33.80% | 58.78% | $45.5M | 2.60% | +201,609 | +74.3% |
| 13 | AAPL | APPLE INC | $307.34 | -1.25% | 51.31% | 116.17% | $41.7M | 2.39% | — | HELD |
| 14 | V | VISA INC | $323.57 | 1.06% | -11.91% | 36.33% | $39.4M | 2.26% | −62,746 | −32.5% |
| 15 | FER | FERROVIAL SE | $66.81 | 0.53% | 32.66% | 146.32% | $36.7M | 2.10% | +574,068 | NEW |
| 16 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | $415.17 | -6.69% | 104.85% | 285.24% | $30.6M | 1.75% | +24,714 | +37.6% |
| 17 | QGEN | QIAGEN NV | $36.68 | -2.34% | -18.93% | -30.22% | $30.4M | 1.74% | +759,564 | NEW |
| 18 | MA | MASTERCARD INCORPORATED | $491.08 | 1.93% | -16.29% | 31.00% | $27.1M | 1.55% | — | HELD |
| 19 | GS | GOLDMAN SACHS GROUP INC | $1038.68 | -4.94% | 72.57% | 212.75% | $25.3M | 1.45% | −2,301 | −7.1% |
| 20 | DE | DEERE & CO | $583.44 | -1.40% | 13.67% | 71.87% | $23.3M | 1.33% | +8,419 | +25.6% |
| 21 | AMD | ADVANCED MICRO DEVICES INC | $466.38 | -10.86% | 301.39% | 339.19% | $18.9M | 1.08% | +16,000 | +20.8% |
| 22 | NEM | NEWMONT CORP | $99.71 | -7.96% | 92.46% | 83.49% | $18.7M | 1.07% | −18,409 | −9.6% |
| 23 | PANW | PALO ALTO NETWORKS INC | $272.05 | -2.58% | 36.30% | 309.05% | $17.1M | 0.98% | −6,452 | −5.7% |
| 24 | HWM | HOWMET AEROSPACE INC | $251.90 | 1.03% | 43.96% | 678.81% | $16.5M | 0.94% | +13,961 | +24.3% |
| 25 | MU | MICRON TECHNOLOGY INC | $864.01 | -13.25% | 697.79% | 1041.92% | $16.3M | 0.93% | +5,200 | +12.1% |
| 26 | TT | TRANE TECHNOLOGIES PLC | $456.84 | -1.49% | 7.48% | 138.53% | $15.1M | 0.86% | −9,050 | −20.0% |
| 27 | VRT | VERTIV HOLDINGS CO | $300.51 | -7.23% | 160.82% | 976.62% | $14.7M | 0.84% | +4,110 | +7.6% |
| 28 | ITUB | ITAU UNIBANCO HLDG S A | $7.54 | -1.31% | 29.35% | 147.34% | $14.6M | 0.83% | +279,689 | +19.2% |
| 29 | FLUT | FLUTTER ENTMT PLC | $100.49 | -0.34% | -59.74% | -41.91% | $14.1M | 0.81% | — | HELD |
| 30 | DHI | D R HORTON INC | $145.60 | -0.55% | 21.99% | 60.58% | $13.8M | 0.79% | −451 | −0.4% |
| 31 | ANET | ARISTA NETWORKS INC | $154.27 | -7.07% | — | — | $12.7M | 0.73% | — | HELD |
| 32 | ORCL | ORACLE CORP | $213.68 | -9.59% | — | — | $12.3M | 0.71% | −9,100 | −9.8% |
| 33 | MDLN | MEDLINE INC | $33.61 | -2.44% | — | — | $11.1M | 0.64% | +195,000 | +354.5% |
| 34 | ISRG | INTUITIVE SURGICAL INC | $422.06 | 0.77% | — | — | $11.0M | 0.63% | — | HELD |
| 35 | CRM | SALESFORCE INC | $185.66 | -1.64% | — | — | $11.0M | 0.63% | −6,600 | −10.1% |
| 36 | LIN | LINDE PLC | $507.90 | 0.09% | — | — | $11.0M | 0.63% | +22,114 | NEW |
| 37 | FPS | FORGENT POWER SOLUTIONS INC | $59.13 | -8.45% | — | — | $9.6M | 0.55% | +328,000 | NEW |
| 38 | ETN | EATON CORP PLC | $395.94 | -5.42% | — | — | $9.4M | 0.54% | +26,236 | NEW |
| 39 | GM | GENERAL MTRS CO | $82.11 | -1.33% | — | — | $8.0M | 0.46% | −43,157 | −28.6% |
| 40 | NU | NU HLDGS LTD | $11.97 | -1.24% | — | — | $7.8M | 0.45% | +544,000 | NEW |
| 41 | INTC | INTEL CORP | $99.17 | -11.28% | — | — | $7.6M | 0.44% | +62,400 | +56.7% |
| 42 | UBER | UBER TECHNOLOGIES INC | $70.71 | -2.08% | — | — | $7.2M | 0.41% | −32,000 | −24.2% |
| 43 | TMO | THERMO FISHER SCIENTIFIC INC | $472.80 | -1.91% | — | — | $7.0M | 0.40% | +9,065 | +172.0% |
| 44 | SYK | STRYKER CORPORATION | $305.66 | 1.48% | — | — | $7.0M | 0.40% | +5,600 | +35.6% |
| 45 | SHOP | SHOPIFY INC | $109.54 | -5.60% | — | — | $6.5M | 0.37% | +55,000 | NEW |
| 46 | CRWD | CROWDSTRIKE HLDGS INC | $671.02 | -6.68% | — | — | $6.5M | 0.37% | −9,300 | −35.8% |
| 47 | DOLE | DOLE PLC | $14.01 | 0.57% | — | — | $6.4M | 0.37% | −180,253 | −28.6% |
| 48 | WAB | WABTEC | $260.40 | -0.81% | — | — | $6.2M | 0.36% | +15,900 | +175.5% |
| 49 | BKNG | BOOKING HOLDINGS INC | $165.84 | -0.99% | — | — | $6.1M | 0.35% | −839 | −36.7% |
| 50 | JPM | JPMORGAN CHASE & CO | $312.37 | 0.48% | — | — | $5.9M | 0.34% | −56,714 | −73.9% |
| 51 | SNOW | SNOWFLAKE INC | $238.26 | -2.42% | — | — | $5.9M | 0.34% | +8,350 | +27.4% |
| 52 | ADSK | AUTODESK INC | $229.96 | -1.58% | — | — | $5.5M | 0.31% | −19,500 | −46.1% |
| 53 | SPOT | SPOTIFY TECHNOLOGY S A | $496.95 | 0.68% | — | — | $5.3M | 0.30% | −11,100 | −50.5% |
| 54 | AVAV 0 07/15/30 | AEROVIRONMENT INC | — | — | — | — | $5.2M | 0.30% | −250,000 | −4.5% |
| 55 | TXN | TEXAS INSTRS INC | $285.06 | -6.65% | — | — | $4.8M | 0.27% | +24,600 | NEW |
| 56 | DXCM | DEXCOM INC | $72.86 | 0.37% | — | — | $4.7M | 0.27% | +28,000 | +59.6% |
| 57 | NDAQ | NASDAQ INC | $87.28 | -1.32% | — | — | $4.4M | 0.25% | −5,200 | −9.2% |
| 58 | T | AT&T INC | $22.75 | -0.09% | — | — | $4.3M | 0.25% | +150,000 | NEW |
| 59 | APP | APPLOVIN CORP | $557.20 | -0.30% | — | — | $4.3M | 0.25% | −5,700 | −34.3% |
| 60 | SNPS | SYNOPSYS INC | $464.85 | -5.99% | — | — | $4.3M | 0.24% | −2,700 | −20.1% |
| 61 | VEEV | VEEVA SYS INC | $172.61 | -3.35% | — | — | $3.9M | 0.22% | −4,586 | −17.0% |
| 62 | NOW | SERVICENOW INC | $112.45 | -5.79% | — | — | $3.9M | 0.22% | −10,700 | −22.5% |
| 63 | BSX | BOSTON SCIENTIFIC CORP | $48.55 | -0.61% | — | — | $3.8M | 0.22% | +61,000 | NEW |
| 64 | PCOR | PROCORE TECHNOLOGIES INC | $48.57 | -4.20% | — | — | $3.5M | 0.20% | −7,150 | −10.5% |
| 65 | OKTA | OKTA INC | $118.72 | -3.85% | — | — | $3.5M | 0.20% | +44,000 | NEW |
| 66 | DDOG | DATADOG INC | $234.11 | -3.90% | — | — | $3.1M | 0.18% | −21,150 | −44.2% |
| 67 | AMAT | APPLIED MATLS INC | $453.01 | -9.71% | — | — | $3.1M | 0.18% | −12,000 | −57.1% |
| 68 | KLAR | KLARNA GROUP PLC | $16.36 | -6.35% | — | — | $2.2M | 0.13% | +54,500 | +46.6% |
| 69 | XYL | XYLEM INC | $109.94 | -0.22% | — | — | $1.8M | 0.10% | −8,100 | −35.0% |
| 70 | GEV | GE VERNOVA INC | $933.61 | -3.09% | — | — | $1.8M | 0.10% | +195 | +10.5% |
| 71 | TOST | TOAST INC | $24.64 | -2.30% | — | — | $1.8M | 0.10% | −91,300 | −57.7% |
| 72 | LLY | ELI LILLY & CO | $1131.42 | 0.55% | — | — | $1.8M | 0.10% | −25 | −1.3% |
| 73 | PONY | PONY AI INC | $8.62 | -9.83% | — | — | $1.8M | 0.10% | +187,500 | NEW |
| 74 | NEE | NEXTERA ENERGY INC | $85.84 | 0.19% | — | — | $1.7M | 0.10% | −16,435 | −47.2% |
| 75 | RIVN 3.625 10/15/30 | RIVIAN AUTOMOTIVE INC | — | — | — | — | $1.7M | 0.09% | +350,000 | +25.9% |
| 76 | FSLR | FIRST SOLAR INC | $279.01 | -11.41% | — | — | $1.4M | 0.08% | +1,800 | +35.3% |
| 77 | JCI | JOHNSON CONTROLS INTERNATION | $143.65 | -2.54% | — | — | $1.2M | 0.07% | −2,150 | −18.9% |
| 78 | NTNX 0.5 12/15/29 | NUTANIX INC | — | — | — | — | $1.1M | 0.07% | +100,000 | +8.7% |
| 79 | AKAM 1.125 02/15/29 | AKAMAI TECHNOLOGIES INC | — | — | — | — | $1.1M | 0.06% | +700,000 | +280.0% |
| 80 | WM | WASTE MGMT INC DEL | $220.40 | 0.63% | — | — | $1.1M | 0.06% | −732 | −13.4% |
| 81 | DDOG 0 12/01/29 | DATADOG INC | — | — | — | — | $1.0M | 0.06% | +200,000 | +23.0% |
| 82 | NET 0 08/15/26 | CLOUDFLARE INC | — | — | — | — | $918K | 0.05% | — | HELD |
| 83 | DHR | DANAHER CORP DEL | $184.30 | -1.25% | — | — | $891K | 0.05% | −8,300 | −63.8% |
| 84 | HALO 1 08/15/28 | HALOZYME THERAPEUTICS INC | — | — | — | — | $812K | 0.05% | — | HELD |
| 85 | SXT | SENSIENT TECHNOLOGIES CORP | $112.19 | -0.53% | — | — | $723K | 0.04% | −3,850 | −31.5% |
| 86 | MSTR 0.625 09/15/28 | STRATEGY INC | — | — | — | — | $716K | 0.04% | +650,000 | NEW |
| 87 | NEE 3 03/01/27 | NEXTERA ENERGY CAP HLDGS INC | — | — | — | — | $627K | 0.04% | — | HELD |
| 88 | PLD | PROLOGIS INC. | $144.54 | 0.52% | — | — | $582K | 0.03% | +4,405 | NEW |
| 89 | MARA 0 03/01/30 | MARA HOLDINGS INC | — | — | — | — | $576K | 0.03% | +650,000 | NEW |
| 90 | VLTO | VERALTO CORP | $86.05 | 1.55% | — | — | $567K | 0.03% | −3,350 | −34.3% |
| 91 | FLR 1.125 08/15/29 | FLUOR CORP | — | — | — | — | $558K | 0.03% | +250,000 | +125.0% |
| 92 | AFRM 0.75 12/15/29 | AFFIRM HLDGS INC | — | — | — | — | $552K | 0.03% | — | HELD |
| 93 | ZTS | ZOETIS INC | $79.44 | -0.10% | — | — | $543K | 0.03% | −4,605 | −50.1% |
| 94 | STX 3.5 06/01/28 | SEAGATE HDD CAYMAN | — | — | — | — | $539K | 0.03% | +120,000 | NEW |
| 95 | STLA | STELLANTIS N.V | $7.11 | -3.79% | — | — | $483K | 0.03% | −1,360,456 | −95.2% |
| 96 | EXAS 0.375 03/01/28 | EXACT SCIENCES CORP | — | — | — | — | $467K | 0.03% | — | HELD |
| 97 | FWONK 2.25 08/15/27 | LIBERTY MEDIA CORP DEL | — | — | — | — | $462K | 0.03% | — | HELD |
| 98 | GWRE 1.25 11/01/29 | GUIDEWIRE SOFTWARE INC | — | — | — | — | $381K | 0.02% | — | HELD |
| 99 | GH 0 11/15/27 | GUARDANT HEALTH INC | — | — | — | — | $356K | 0.02% | +350,000 | NEW |
| 100 | NIO 4.625 10/15/30 | NIO INC | — | — | — | — | $348K | 0.02% | +180,000 | +100.0% |
| 101 | PSN 2.625 03/01/29 | PARSONS CORP DEL | — | — | — | — | $346K | 0.02% | −400,000 | −53.3% |
| 102 | RGEN 1 12/15/28 | REPLIGEN CORP | — | — | — | — | $341K | 0.02% | −200,000 | −36.4% |
| 103 | UBER 0.875 12/01/28 2028 | UBER TECHNOLOGIES INC | — | — | — | — | $314K | 0.02% | −750,000 | −74.3% |
| 104 | GOOG | ALPHABET INC | — | — | — | — | $261K | 0.01% | +545 | +162.7% |
| 105 | DBX 0 03/01/28 | DROPBOX INC | — | — | — | — | $95K | 0.01% | −150,000 | −60.0% |
| 106 | QGEN | QIAGEN NV | $36.68 | -2.34% | -18.93% | -30.22% | — | — | −691,821 | EXITED |
| 107 | MMM | 3M CO | — | — | — | — | — | — | −111,050 | EXITED |
| 108 | SGI | SOMNIGROUP INTERNATIONAL INC | — | — | — | — | — | — | −121,000 | EXITED |
| 109 | ROP | ROPER TECHNOLOGIES INC | — | — | — | — | — | — | −13,200 | EXITED |
| 110 | ADBE | ADOBE INC | — | — | — | — | — | — | −16,210 | EXITED |
| 111 | INTU | INTUIT | — | — | — | — | — | — | −7,850 | EXITED |
| 112 | ACN | ACCENTURE PLC IRELAND | — | — | — | — | — | — | −16,045 | EXITED |
| 113 | SPOT 0 03/15/26 | SPOTIFY USA INC | — | — | — | — | — | — | −1,150,000 | EXITED |
| 114 | SNOW 0 10/01/29 | SNOWFLAKE INC | — | — | — | — | — | — | −600,000 | EXITED |
| 115 | MKSI 1.25 06/01/30 | MKS INC. | — | — | — | — | — | — | −700,000 | EXITED |
| 116 | MICC | MAGNUM ICE CREAM CO NV | — | — | — | — | — | — | −55,154 | EXITED |
| 117 | TCOM 0.75 06/15/29 | TRIP COM GROUP LTD | — | — | — | — | — | — | −600,000 | EXITED |
| 118 | F 0 03/15/26 | FORD MTR CO | — | — | — | — | — | — | −650,000 | EXITED |
| 119 | JD 0.25 06/01/29 | JD.COM INC | — | — | — | — | — | — | −650,000 | EXITED |
| 120 | FOUR 0.5 08/01/27 | SHIFT4 PMTS INC | — | — | — | — | — | — | −640,000 | EXITED |
| 121 | EXPE 0 02/15/26 | EXPEDIA GROUP INC | — | — | — | — | — | — | −550,000 | EXITED |
| 122 | DBX 0 03/01/26 | DROPBOX INC | — | — | — | — | — | — | −600,000 | EXITED |
| 123 | BSY 0.375 07/01/27 | BENTLEY SYS INC | — | — | — | — | — | — | −600,000 | EXITED |
| 124 | WK 1.25 08/15/28 | WORKIVA INC | — | — | — | — | — | — | −350,000 | EXITED |
| 125 | HTHT 3 05/01/26 | H WORLD GROUP LTD | — | — | — | — | — | — | −200,000 | EXITED |
| 126 | W 3.25 09/15/27 | WAYFAIR INC | — | — | — | — | — | — | −150,000 | EXITED |
Source: SEC EDGAR · accession 0001104659-26-061156. 13F discloses long positions only — shorts, foreign equities, and options are excluded.