CS
Candriam S.C.A. — 13F Portfolio Changes & Top Buys (Q2 2026)
Candriam S.C.A.CIK: 0001537014
Diversified strategyMomentum followerSector-focused
Total reported value
$22.2B
Reporting period: 2026-06-30 · Number of holdings: 678
Candriam S.C.A. disclosed 678 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $22.2B and a quarterly turnover rate of 32.9%.
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Personality snowflake
- Concentration
- 6.29
- Portfolio Stability
- 32.88
- Momentum
- 100
- Sector conviction
- 71.34
- Diversification
- 100
- Sizing Uniformity
- 68.92
Candriam S.C.A.'s disclosed holdings carry a Herfindahl concentration index of 0.016 — mathematically equivalent to about 64 equally-sized positions, well below its 678 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.11), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MU
-17.7% $314.5M
Add AMD
+11.1% $261.5M
Trim MSFT
-5.9% -$52.3M
Add AVGO
+19.3% $199.8M
Trim GILD
-28.7% -$82.4M
Add PANW
-19.7% $135.9M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Candriam's portfolio is extremely diversified (HHI 0.0157; full diversification score) with 677 holdings, yet the top changes reveal active rotation within tech: adds to AMD, AVGO, GOOGL, NVDA, and AAPL with trims in MU, PANW, and LRCX. Without share-change percentages, only weight shifts are observable — the adds collectively outweigh the trims, indicating a net bullish tilt toward large-cap semis and platforms.
Macro & Fundamentals
The flows appear consistent with a continued crowded positioning in AI/semiconductor names and mega-cap tech liquidity, given IT is 41.5% of the book. Data suggests a momentum-driven tilt (momentum score 100.0), but whether this is a deliberate bet or passive drift cannot be confirmed from this snapshot alone.
Blind Spots / Risks
The portfolio's main vulnerability is its extreme breadth — with a coefficient of variation of 3.11 and the largest position (NVDA) at just 6.33% weight, no single name can drive returns. In a liquidity-driven tape, this structure may underperform when capital rotates out of mega-cap tech, and the lack of concentration data makes the tail-risk profile harder to assess.
Compiled by AI directly from this institution's public Form 13F data on SEC EDGAR; reflects historical positioning only and carries no investment recommendation. Source filing linked below. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 678 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 6.33% | -0.03% | +0.20% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 4.73% | +0.11% | +3.67% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.23% | -0.92% | -5.91% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 4.21% | +0.35% | +1.46% | |
| 5 | AVGO | Broadcom Inc | Stock-Tech | 2.88% | +0.60% | +19.33% | |
| 6 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.78% | +0.04% | +2.36% | |
| 7 | MU | Micron Technology Inc | Stock-Tech | 2.20% | +1.30% | -17.69% | |
| 8 | LLY | Eli Lilly & Co | Stock-Healthcare | 2.17% | +0.18% | -3.67% | |
| 9 | AMD | Advanced Micro Devices | Stock-Tech | 1.72% | +1.09% | +11.15% | |
| 10 | PANW | Palo Alto Networks Inc | Stock-Tech | 1.48% | +0.48% | -19.66% | |
| 11 | LRCX | Lam Research CORP | Stock-Tech | 1.39% | +0.43% | -17.67% | |
| 12 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.34% | +0.06% | -1.92% | |
| 13 | ABBV | Abbvie Inc | Stock-Healthcare | 1.32% | +0.03% | +1.75% | |
| 14 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.30% | +0.15% | -7.62% | |
| 15 | KLAC | Kla CORP | Stock-Tech | 1.03% | +0.45% | +907.08% | |
| 16 | V | Visa Inc-class A Shares | Stock-Financials | 0.99% | +0.07% | +10.26% | |
| 17 | MA | Mastercard Inc - A | Stock-Financials | 0.88% | -0.13% | -2.68% | |
| 18 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.82% | -0.01% | +7.32% | |
| 19 | A | Agilent Technologies Inc | Stock-Healthcare | 0.81% | +0.12% | +16.86% | |
| 20 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.80% | +0.07% | +14.15% | |
| 21 | NEE | Nextera Energy Inc | Stock-Utilities | 0.79% | -0.09% | +9.83% | |
| 22 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.78% | -0.12% | -1.88% | |
| 23 | ISRG | Intuitive Surgical Inc | Stock-Healthcare | 0.77% | -0.02% | +30.87% | |
| 24 | MCK | Mckesson CORP | Stock-Healthcare | 0.72% | -0.36% | -12.21% | |
| 25 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.69% | -0.15% | -3.66% | |
| 26 | GILD | Gilead Sciences Inc | Stock-Healthcare | 0.68% | -0.53% | -28.67% | |
| 27 | WDC | Western Digital CORP | Stock-Tech | 0.62% | +0.44% | +65.12% | |
| 28 | HD | Home Depot Inc | Stock-Consumer Disc | 0.60% | +0.07% | +23.17% | |
| 29 | GEV | GE Vernova Inc | Stock-Industrials | 0.60% | +0.01% | -13.21% | |
| 30 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.59% | +0.02% | +7.01% | |
| 31 | MRVL | Marvell Technology Inc | Stock-Tech | 0.59% | +0.22% | -37.91% | |
| 32 | AMGN | Amgen Inc | Stock-Healthcare | 0.59% | -0.13% | -8.19% | |
| 33 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.58% | -0.43% | -36.13% | |
| 34 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.58% | +0.25% | +32.84% | |
| 35 | NOW | Servicenow Inc | Stock-Tech | 0.56% | -0.07% | +7.16% | |
| 36 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 0.55% | -0.20% | +4.98% | |
| 37 | ADI | Analog Devices Inc | Stock-Tech | 0.53% | +0.06% | +3.95% | |
| 38 | XYL | Xylem Inc | Stock-Industrials | 0.52% | -0.09% | +0.76% | |
| 39 | CRWD | Crowdstrike Holdings Inc - A | Stock-Tech | 0.49% | +0.21% | +3.20% | |
| 40 | CDNS | Cadence Design Sys Inc | Stock-Tech | 0.47% | +0.08% | +2.29% | |
| 41 | RVMD | Revolution Medicines Inc | Stock-Healthcare | 0.47% | +0.18% | -4.18% | |
| 42 | VRTX | Vertex Pharmaceuticals Inc | Stock-Healthcare | 0.45% | -0.08% | -12.85% | |
| 43 | WAB | Wabtec CORP | Stock-Industrials | 0.44% | +0.01% | +9.82% | |
| 44 | DDOG | Datadog Inc - Class A | Stock-Tech | 0.44% | +0.22% | +3.67% | |
| 45 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.43% | -0.10% | -7.43% | |
| 46 | CSCO | Cisco Systems Inc | Stock-Tech | 0.43% | +0.08% | -6.44% | |
| 47 | ALNY | Alnylam Pharmaceuticals Inc | Stock-Healthcare | 0.43% | +0.04% | +40.20% | |
| 48 | MDB | Mongodb Inc | Stock-Tech | 0.42% | +0.15% | +31.69% | |
| 49 | MS | Morgan Stanley | Stock-Financials | 0.41% | +0.02% | -4.67% | |
| 50 | CRDO | Credo Technology Group Holding Ltd | Stock-Tech | 0.40% | +0.21% | -15.95% |
1–50 of 200
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Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
+5.5%
Performance Last 4 Quarters
+29.3%
- Stdev
- +13.5%
- Beta
- +1.01
- Alpha
- -1.4%
- Max Drawdown
- -9.4%
- Annualized Perf
- +19.4%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +2.65
- Stutzer
- +0.4
- Treynor
- +0.19
- Sterling
- +1.17
- Calmar
- +2.06
- Information Ratio
- -0.36
- Tracking Error
- +3.4%
- Stdev Down
- +7.1%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +35.5%
- Worst 12 Months
- +0.2%
- Efficiency Ratio
- +0.57
- Sharpe
- +1.39
- Stdev Sectors
- +11.6%
- Skewness
- -0.14
- Kurtosis
- -0.28
- Upside Potential
- +4.25
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 678 | $22.2B | 33 | ||
| 2026 Q1 | 692 | $19.3B | 24 | ||
| 2025 Q4 | 685 | $20.1B | 25 | ||
| 2025 Q3 | 665 | $19.1B | 40 | ||
| 2025 Q2 | 679 | $17.3B | 0 | ||
| 2025 Q1 | 799 | $16.0B | 100 | ||
| 2024 Q4 | 791 | $17.4B | 0 | ||
| 2024 Q3 | 689 | $17.4B | 0 | ||
| 2024 Q2 | 810 | $16.5B | 0 | ||
| 2024 Q1 | 702 | $15.6B | 0 | ||
| 2023 Q4 | 704 | $14.5B | 0 | ||
| 2023 Q3 | 844 | $14.1B | 0 | ||
| 2023 Q2 | 903 | $13.8B | 0 | ||
| 2023 Q1 | 1076 | $14.4B | 0 | ||
| 2022 Q4 | 1050 | $14.8B | 0 | ||
| 2022 Q3 | 1066 | $14.2B | 0 | ||
| 2022 Q2 | 966 | $12.1B | 0 | ||
| 2022 Q1 | 996 | $14.7B | 0 | ||
| 2021 Q4 | 997 | $15.7B | 0 | ||
| 2021 Q3 | 1076 | $14.7B | 0 | ||
| 2021 Q2 | 1099 | $14.6B | 90 | ||
| 2021 Q1 | 1001 | $12.0B | 5 | ||
| 2020 Q4 | 998 | $12.6B | 38 | ||
| 2020 Q3 | 993 | $10.6B | 30 | ||
| 2020 Q2 | 995 | $9.5B | 46 | ||
| 2020 Q1 | 964 | $9.0B | 3 | ||
| 2019 Q4 | 787 | $9.3B | 31 | ||
| 2019 Q3 | 741 | $7.5B | 30 | ||
| 2019 Q2 | 808 | $8.0B | 27 | ||
| 2019 Q1 | 864 | $7.8B | 37 | ||
| 2018 Q4 | 881 | $6.5B | 31 | ||
| 2018 Q3 | 883 | $7.5B | 38 | ||
| 2018 Q2 | 858 | $6.3B | 32 | ||
| 2018 Q1 | 760 | $5.9B | 30 | ||
| 2017 Q4 | 750 | $5.8B | 33 | ||
| 2017 Q3 | 723 | $5.7B | 36 | ||
| 2017 Q2 | 704 | $5.3B | 34 | ||
| 2017 Q1 | 690 | $5.2B | 40 | ||
| 2016 Q4 | 668 | $4.4B | 38 | ||
| 2016 Q3 | 656 | $4.2B | 38 | ||
| 2016 Q2 | 653 | $3.8B | 45 | ||
| 2016 Q1 | 635 | $4.0B | 59 | ||
| 2015 Q4 | 553 | $3.7B | 60 | ||
| 2015 Q3 | 617 | $4.1B | 48 | ||
| 2015 Q2 | 634 | $4.8B | 45 | ||
| 2015 Q1 | 634 | $5.0B | 45 | ||
| 2014 Q4 | 617 | $4.8B | 0 |
Holding changes this quarter
Candriam S.C.A.'s most significant position changes for 2026-06-30: Sold out: Ascendis Pharma A/S (ASND); Sold out: Ensign Group Inc/the (ENSG); Sold out: Terns Pharmaceuticals Inc (430); Sold out: Trade Desk Inc/the -class A (TTD); New buy: Bbva Argentina Sa-adr (BBAR).
Showing top 200 changes by size (of 736 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MU | Micron Technology Inc | +1.3% | -17.69% | Trim |
| 2 | AMD | Advanced Micro Devices | +1.1% | +11.15% | Add |
| 3 | AVGO | Broadcom Inc | +0.6% | +19.33% | Add |
| 4 | PANW | Palo Alto Networks Inc | +0.5% | -19.66% | Trim |
| 5 | KLAC | Kla CORP | +0.5% | +907.08% | Add |
| 6 | WDC | Western Digital CORP | +0.4% | +65.12% | Add |
| 7 | LRCX | Lam Research CORP | +0.4% | -17.67% | Trim |
| 8 | GOOGL | Alphabet Inc-cl A | +0.4% | +1.46% | Add |
| 9 | INTC | Intel CORP | +0.3% | +72.77% | Add |
| 10 | ENTG | Entegris Inc | +0.3% | +2823.90% | Add |
| 11 | UNH | Unitedhealth Group Inc | +0.3% | +32.84% | Add |
| 12 | MRVL | Marvell Technology Inc | +0.2% | -37.91% | Trim |
| 13 | DDOG | Datadog Inc - Class A | +0.2% | +3.67% | Add |
| 14 | CRWD | Crowdstrike Holdings Inc - A | +0.2% | +3.20% | Add |
| 15 | CRDO | Credo Technology Group Holding Ltd | +0.2% | -15.95% | Trim |
| 16 | ARKK | Ark Innovation ETF | +0.2% | +129.49% | Add |
| 17 | HLT | Hilton Worldwide Holdings In | +0.2% | +175.79% | Add |
| 18 | LLY | Eli Lilly & Co | +0.2% | -3.67% | Trim |
| 19 | RVMD | Revolution Medicines Inc | +0.2% | -4.18% | Trim |
| 20 | EW | Edwards Lifesciences CORP | +0.2% | +154.98% | Add |
| 21 | SNEX | Stonex Group Inc | +0.2% | +223.99% | Add |
| 22 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | -7.62% | Trim |
| 23 | MDB | Mongodb Inc | +0.2% | +31.69% | Add |
| 24 | WST | West Pharmaceutical Services | +0.2% | +956.00% | Add |
| 25 | AMAT | Applied Materials Inc | +0.1% | +4.22% | Add |
| 26 | A | Agilent Technologies Inc | +0.1% | +16.86% | Add |
| 27 | ARGX | Argenx Se - Adr | +0.1% | +47.96% | Add |
| 28 | TFC | Truist Financial CORP | +0.1% | +389.59% | Add |
| 29 | BBAR | Bbva Argentina Sa-adr | +0.1% | NEW | New buy |
| 30 | AAPL | Apple Inc | +0.1% | +3.67% | Add |
| 31 | URI | United Rentals Inc | +0.1% | +172.91% | Add |
| 32 | NTRS | Northern Trust CORP | +0.1% | +96.07% | Add |
| 33 | DELL | Dell Technologies -c | +0.1% | +20.27% | Add |
| 34 | EBAY | Ebay Inc | +0.1% | +251.26% | Add |
| 35 | RNR | RenaissanceRe Holdings Ltd. | +0.1% | +325.03% | Add |
| 36 | PWR | Quanta Services Inc | +0.1% | +36.81% | Add |
| 37 | TNGX | Tango Therapeutics Inc | +0.1% | +28.47% | Add |
| 38 | ELVN | Enliven Therapeutics Inc | +0.1% | +52.45% | Add |
| 39 | CMI | Cummins Inc | +0.1% | +202.70% | Add |
| 40 | CIB | Grupo Cibest Sa-adr | +0.1% | +108.46% | Add |
| 41 | EQIX | Equinix Inc | +0.1% | +96.64% | Add |
| 42 | CDNS | Cadence Design Sys Inc | +0.1% | +2.29% | Add |
| 43 | CSCO | Cisco Systems Inc | +0.1% | -6.44% | Trim |
| 44 | GE | General Electric | +0.1% | +35.13% | Add |
| 45 | CMPS | Compass Pathways PLC | +0.1% | NEW | New buy |
| 46 | V | Visa Inc-class A Shares | +0.1% | +10.26% | Add |
| 47 | JPM | Jpmorgan Chase & Co | +0.1% | +14.15% | Add |
| 48 | HD | Home Depot Inc | +0.1% | +23.17% | Add |
| 49 | VRDN | Viridian Therapeutics Inc | +0.1% | +139.93% | Add |
| 50 | ALAB | Astera Labs Inc | +0.1% | +20.87% | Add |
1–50 of 200
Filing History
FAQ
What is Candriam S.C.A. and what type of investor is it?
Candriam S.C.A. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $22.2B, spread across 678 disclosed positions.
What are Candriam S.C.A.'s largest equity positions?
Based on the latest 13F filing, Candriam S.C.A.'s top holdings by market value are:
1. Nvidia CORP (NVDA) — $1.4B (6.3%)
2. Apple Inc (AAPL) — $1.0B (4.7%)
3. Microsoft CORP (MSFT) — $939.0M (4.2%)
4. Alphabet Inc-cl A (GOOGL) — $935.6M (4.2%)
5. Broadcom Inc (AVGO) — $638.8M (2.9%)
What changes did Candriam S.C.A. make in its most recent portfolio filing?
In the latest reported quarter, Candriam S.C.A. made 199 notable position adjustments: 13 new positions were initiated, 88 existing holdings were added to, 85 positions were partially reduced, and 13 were completely exited. The largest of these moves: Sold out: Ascendis Pharma A/S (ASND); Sold out: Ensign Group Inc/the (ENSG); Sold out: Terns Pharmaceuticals Inc (430); Sold out: Trade Desk Inc/the -class A (TTD); New buy: Bbva Argentina Sa-adr (BBAR)
What sectors does Candriam S.C.A. focus on?
Candriam S.C.A. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 41.5%
• Health Care: 19.7%
• Financials: 9.8%
• Communication Services: 7.5%
• Consumer Discretionary: 7.4%
• Industrials: 6.7%
Investment Profile
Candriam S.C.A. returned an annualized 19.4% over the trailing 36 months — underperforming the S&P 500 by 1.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.01 (roughly in line with the market) and a 44% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 41.5% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 33 over the past 4 quarters — a shift toward more active trading.
It has added to its MU position over the past two quarters (+$337.3M, now $488.2M), while trimming MSFT over the same stretch (-$313.3M, still holding $939.0M).
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Developer Access
Access Candriam S.C.A.'s institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/candriam-s-c-aCLI
npx alphasmo institutions get candriam-s-c-a