CIK: 0001744373
Total reported value
$508.4M
Reporting period: 2026-03-31 · Number of holdings: 353
Machina Capital S.A.S. disclosed 353 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $508.4M and a quarterly turnover rate of 94.6%.
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Machina Capital S.A.S.'s disclosed holdings carry a Herfindahl concentration index of 0.006 — mathematically equivalent to about 174 equally-sized positions, well below its 353 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.02), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add VST
+624.8% $9.7M
Trim MO
-86.5% -$5.7M
Trim GD
-56.5% -$5.6M
Trim HON
-96.4% -$4.7M
Trim NOC
-75.4% -$4.7M
Add SYY
+1430.7% $4.4M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VST | Vistra CORP | Stock-Utilities | 2.25% | +1.93% | +624.79% | |
| 2 | OTIS | Otis Worldwide CORP | Stock-Industrials | 1.47% | — | +2.03% | |
| 3 | TJX | Tjx Companies INC | Stock-Consumer Disc | 1.35% | +0.71% | +95.41% | |
| 4 | CVX | Chevron CORP | Stock-Energy | 1.23% | — | -18.21% | |
| 5 | EA | Electronic Arts INC | Stock-Comm Services | 1.17% | — | +65.36% | |
| 6 | PEP | Pepsico INC | Stock-Consumer Staples | 1.10% | — | +29.96% | |
| 7 | MMM | 3m Co | Stock-Industrials | 1.10% | +0.75% | +237.49% | |
| 8 | NRG | Nrg Energy INC | Stock-Utilities | 1.09% | +0.83% | +340.28% | |
| 9 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 1.09% | — | +2.92% | |
| 10 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 1.09% | +0.66% | +213.10% | |
| 11 | AVGO | Broadcom INC | Stock-Tech | 1.04% | +0.72% | +254.25% | |
| 12 | CMI | Cummins INC | Stock-Industrials | 1.00% | — | +43.55% | |
| 13 | SYY | Sysco CORP | Stock-Consumer Staples | 0.93% | +0.87% | +1430.72% | |
| 14 | WMB | Williams Cos INC | Stock-Energy | 0.89% | +0.67% | +216.46% | |
| 15 | GD | General Dynamics CORP | Stock-Industrials | 0.87% | -1.04% | -56.51% | |
| 16 | NEM | Newmont CORP | Stock-Materials | 0.86% | +0.67% | +296.41% | |
| 17 | VRTX | Vertex Pharmaceuticals INC | Stock-Healthcare | 0.85% | — | +90.64% | |
| 18 | ACN | Accenture plc | Stock-Tech | 0.84% | +0.60% | +365.31% | |
| 19 | COF | Capital One Financial CORP | Stock-Financials | 0.83% | +0.52% | +246.63% | |
| 20 | USB | US Bancorp | Stock-Financials | 0.83% | — | +8.60% | |
| 21 | LMT | Lockheed Martin CORP | Stock-Industrials | 0.82% | — | -30.08% | |
| 22 | ECL | Ecolab INC | Stock-Materials | 0.82% | +0.53% | +168.36% | |
| 23 | SRE | Sempra | Stock-Utilities | 0.79% | +0.79% | NEW | |
| 24 | DHR | Danaher CORP | Stock-Healthcare | 0.79% | — | +38.27% | |
| 25 | AES | Aes CORP | Stock-Utilities | 0.79% | +0.57% | +246.32% | |
| 26 | LVS | Las Vegas Sands CORP | Stock-Consumer Disc | 0.79% | — | +21.56% | |
| 27 | TTWO | Take-two Interactive Softwre | Stock-Comm Services | 0.77% | +0.65% | +687.20% | |
| 28 | ADP | Automatic Data Processing | Stock-Tech | 0.76% | +0.76% | NEW | |
| 29 | LBRDK | Liberty Broadband-c | Stock-Comm Services | 0.73% | -0.59% | -47.79% | |
| 30 | ABT | Abbott Laboratories | Stock-Healthcare | 0.73% | +0.73% | NEW | |
| 31 | AME | Ametek INC | Stock-Industrials | 0.71% | — | -36.94% | |
| 32 | HO1 | Hologic INC | Stock-Other | 0.71% | — | +20.27% | |
| 33 | WAB | Wabtec CORP | Stock-Industrials | 0.68% | — | +12.73% | |
| 34 | FIS | Fidelity National Info Serv | Stock-Tech | 0.68% | — | +157.42% | |
| 35 | AON | Aon plc | Stock-Financials | 0.67% | — | +35.15% | |
| 36 | GM | General Motors Co | Stock-Consumer Disc | 0.67% | — | +165.17% | |
| 37 | ANET | Arista Networks INC | Stock-Tech | 0.67% | — | +185.83% | |
| 38 | NSC | Norfolk Southern CORP | Stock-Industrials | 0.66% | — | +130.59% | |
| 39 | ROST | Ross Stores INC | Stock-Consumer Disc | 0.66% | — | -3.94% | |
| 40 | ROP | Roper Technologies INC | Stock-Tech | 0.65% | — | -7.38% | |
| 41 | BAM | Brookfield Asset Mgmt-a | Stock-Financials | 0.64% | — | +113.71% | |
| 42 | CI | THE Cigna Group | Stock-Healthcare | 0.62% | — | +81.45% | |
| 43 | ITW | Illinois Tool Works | Stock-Industrials | 0.62% | — | -11.42% | |
| 44 | PSX | Phillips 66 | Stock-Energy | 0.62% | — | +130.00% | |
| 45 | WBD | Warner Bros Discovery INC | Stock-Comm Services | 0.61% | — | +137.65% | |
| 46 | CNC | Centene CORP | Stock-Healthcare | 0.61% | — | +175.10% | |
| 47 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 0.61% | — | +11.14% | |
| 48 | HST | Host Hotels & Resorts INC | Stock-Real Estate | 0.60% | +0.51% | +505.26% | |
| 49 | MSI | Motorola Solutions INC | Stock-Tech | 0.59% | — | -46.73% | |
| 50 | ABNB | Airbnb Inc-class A | Stock-Consumer Disc | 0.58% | — | -25.14% |
Performance for Q3 2026
+2.8%
Performance Last 4 Quarters
+14.2%
Based on 75% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 353 | $508.4M | 95 | |
| 2025-12-31 | 341 | $523.9M | 95 | |
| 2025-09-30 | 314 | $568.4M | 100 | |
| 2025-06-30 | 304 | $480.7M | 0 | |
| 2025-03-31 | 275 | $337.1M | 100 | |
| 2024-12-31 | 265 | $237.5M | 0 | |
| 2024-09-30 | 273 | $251.3M | 0 | |
| 2024-06-30 | 255 | $222.9M | 0 | |
| 2024-03-31 | 243 | $189.9M | 0 | |
| 2023-12-31 | 234 | $154.9M | 0 | |
| 2023-09-30 | 247 | $178.5M | 0 | |
| 2023-06-30 | 250 | $176.3M | 0 | |
| 2023-03-31 | 486 | $114.0M | 0 | |
| 2022-12-31 | 137 | $54.0M | 0 | |
| 2022-09-30 | 134 | $47.2M | 0 | |
| 2022-06-30 | 119 | $44.5M | 0 | |
| 2022-03-31 | 127 | $45.5M | 0 | |
| 2021-12-31 | 120 | $41.5M | 0 | |
| 2021-09-30 | 123 | $46.3M | 0 | |
| 2021-06-30 | 155 | $59.1M | 100 | |
| 2021-03-31 | 32 | $8.8M | 100 | |
| 2020-12-31 | 1 | — | — | |
| 2020-09-30 | 1 | — | — | |
| 2020-06-30 | 1 | — | — | |
| 2020-03-31 | 1 | — | 100 | |
| 2019-12-31 | 336 | $251.7M | 100 | |
| 2019-09-30 | 301 | $218.9M | 100 | |
| 2019-06-30 | 490 | $267.4M | 100 | |
| 2019-03-31 | 467 | $251.7M | 100 | |
| 2018-12-31 | 263 | $151.3M | — |
Machina Capital S.A.S.'s most significant position changes for 2026-03-31: Sold out: Microsoft CORP (MSFT); Sold out: Eog Resources INC (EOG); Sold out: Corteva INC (CTVA); Sold out: Eli Lilly & Co (LLY); New buy: Sempra (SRE).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VST | Vistra CORP | +1.9% | +624.79% | Add |
| 2 | SYY | Sysco CORP | +0.9% | +1430.72% | Add |
| 3 | NRG | Nrg Energy INC | +0.8% | +340.28% | Add |
| 4 | MMM | 3m Co | +0.8% | +237.49% | Add |
| 5 | AVGO | Broadcom INC | +0.7% | +254.25% | Add |
| 6 | TJX | Tjx Companies INC | +0.7% | +95.41% | Add |
| 7 | NEM | Newmont CORP | +0.7% | +296.41% | Add |
| 8 | WMB | Williams Cos INC | +0.7% | +216.46% | Add |
| 9 | BKNG | Booking Holdings INC | +0.7% | +213.10% | Add |
| 10 | TTWO | Take-two Interactive Softwre | +0.7% | +687.20% | Add |
| 11 | ACN | Accenture plc | +0.6% | +365.31% | Add |
| 12 | AES | Aes CORP | +0.6% | +246.32% | Add |
| 13 | CB | Chubb Limited | +0.5% | +1124.34% | Add |
| 14 | ECL | Ecolab INC | +0.5% | +168.36% | Add |
| 15 | COF | Capital One Financial CORP | +0.5% | +246.63% | Add |
| 16 | HST | Host Hotels & Resorts INC | +0.5% | +505.26% | Add |
| 17 | ADSK | Autodesk INC | -0.5% | -46.05% | Trim |
| 18 | F | Ford Motor Co | -0.5% | -57.37% | Trim |
| 19 | AAPL | Apple INC | -0.6% | -68.40% | Trim |
| 20 | PG | Procter & Gamble Co/the | -0.6% | -51.87% | Trim |
| 21 | KMI | Kinder Morgan INC | -0.6% | -81.19% | Trim |
| 22 | NDSN | Nordson CORP | -0.6% | -85.81% | Trim |
| 23 | LBRDK | Liberty Broadband-c | -0.6% | -47.79% | Trim |
| 24 | EW | Edwards Lifesciences CORP | -0.7% | -92.79% | Trim |
| 25 | NOC | Northrop Grumman CORP | -0.9% | -75.40% | Trim |
| 26 | HON | Honeywell International INC | -0.9% | -96.45% | Trim |
| 27 | GD | General Dynamics CORP | -1% | -56.51% | Trim |
| 28 | MO | Altria Group INC | -1.1% | -86.50% | Trim |
| 29 | MSFT | Microsoft CORP | — | EXIT | Sold out |
| 30 | EOG | Eog Resources INC | — | EXIT | Sold out |
| 31 | CTVA | Corteva INC | — | EXIT | Sold out |
| 32 | LLY | Eli Lilly & Co | — | EXIT | Sold out |
| 33 | SRE | Sempra | — | NEW | New buy |
| 34 | ADP | Automatic Data Processing | — | NEW | New buy |
| 35 | MDT | Medtronic plc | — | EXIT | Sold out |
| 36 | ABT | Abbott Laboratories | — | NEW | New buy |
| 37 | SYK | Stryker CORP | — | EXIT | Sold out |
| 38 | JNJ | Johnson & Johnson | — | EXIT | Sold out |
| 39 | WMT | Walmart INC | — | EXIT | Sold out |
| 40 | DTE | Dte Energy Company | — | EXIT | Sold out |
| 41 | NEE | Nextera Energy INC | — | EXIT | Sold out |
| 42 | PFE | Pfizer INC | — | EXIT | Sold out |
| 43 | DUK | Duke Energy CORP | — | EXIT | Sold out |
| 44 | PNC | Pnc Financial Services Group | — | EXIT | Sold out |
| 45 | MRK | Merck & Co. INC. | — | NEW | New buy |
| 46 | MPC | Marathon Petroleum CORP | — | EXIT | Sold out |
| 47 | PEG | Public Service Enterprise Gp | — | NEW | New buy |
| 48 | JPM | Jpmorgan Chase & Co | — | NEW | New buy |
| 49 | DAY | Dayforce INC | — | EXIT | Sold out |
| 50 | CTAS | Cintas CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-13 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-10 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-05 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-05 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-06 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-07 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-07 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-06 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-03 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-08 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-25 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-08 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-08 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-27 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-21 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-17 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-15 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-05 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-07 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-12 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-19 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-03-25 | 13F-HR | View on EDGAR |
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