EA
Exane Asset Management Quarterly 13F Portfolio Update (Q2 2026)
Exane Asset ManagementCIK: 0001666256
Quality / disciplined sizingLong-term holderDiversified strategy
Total reported value
$276.7M
Reporting period: 2026-06-30 · Number of holdings: 28
Exane Asset Management disclosed 28 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $276.7M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 22.74
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 58.85
- Diversification
- 56
- Sizing Uniformity
- 92.17
Exane Asset Management's disclosed holdings carry a Herfindahl concentration index of 0.057 — mathematically equivalent to about 18 equally-sized positions, close to its 28 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.78), 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim UBS
-90.4% -$58.4M
New buy DB
New buy IFF
Sold out LIN
Add SNOW
+144.6% $11.3M
New buy PANW
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SW | Smurfit Westrock Plc | Stock-Consumer Disc | 10.68% | +2.83% | -33.22% | |
| 2 | ✓ | Ferrovial Se | Stock-Other | 9.12% | +1.93% | -33.25% | |
| 3 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 7.87% | +2.06% | -18.51% | |
| 4 | DB | Deutsche Bank Aktiengesellschaft | Stock-Financials | 6.92% | +6.92% | NEW | |
| 5 | AZN | AstraZeneca PLC | Stock-Healthcare | 6.39% | -1.30% | -50.65% | |
| 6 | IFF | Intl Flavors & Fragrances | Stock-Materials | 6.07% | +6.07% | NEW | |
| 7 | SNOW | Snowflake Inc | Stock-Tech | 5.42% | +4.67% | +144.56% | |
| 8 | DDOG | Datadog Inc - Class A | Stock-Tech | 4.38% | +2.31% | -45.23% | |
| 9 | META | Meta Platforms Inc-class A | Stock-Comm Services | 4.13% | -2.79% | -65.43% | |
| 10 | PANW | Palo Alto Networks Inc | Stock-Tech | 3.86% | +3.86% | NEW | |
| 11 | DASH | Doordash Inc - A | Stock-Consumer Disc | 3.85% | -0.69% | -60.69% | |
| 12 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.77% | -2.61% | -70.60% | |
| 13 | SHOP | Shopify Inc - Class A | Stock-Tech | 3.69% | +1.63% | +6.21% | |
| 14 | FIG | Figma Inc-cl A | Stock-Other | 3.22% | +3.22% | NEW | |
| 15 | CRH | CRH plc | Stock-Materials | 3.05% | -3.85% | -75.27% | |
| 16 | UBS | UBS Group AG | Stock-Financials | 2.99% | -10.63% | -90.40% | |
| 17 | TTWO | Take-two Interactive Softwre | Stock-Comm Services | 2.97% | +2.97% | NEW | |
| 18 | ABNB | Airbnb Inc-class A | Stock-Consumer Disc | 2.73% | +2.73% | NEW | |
| 19 | AMRZ | Amrize Ltd | Stock-Materials | 2.29% | -3.12% | -75.41% | |
| 20 | ZS | Zscaler Inc | Stock-Tech | 1.69% | +1.69% | NEW | |
| 21 | CRWD | Crowdstrike Holdings Inc - A | Stock-Tech | 1.64% | +0.79% | -43.88% | |
| 22 | GWRE | Guidewire Software Inc | Stock-Tech | 1.54% | +1.50% | +2827.75% | |
| 23 | CRM | Salesforce Inc | Stock-Tech | 1.54% | +1.54% | NEW | |
| 24 | TTE | TotalEnergies SE | Stock-Other | 0.06% | -0.21% | -85.02% | |
| 25 | LOGI | Logitech International S.A. | Stock-Tech | 0.05% | +0.03% | +24.33% | |
| 26 | ACN | Accenture plc | Stock-Tech | 0.04% | -0.67% | -95.17% | |
| 27 | ALC | Alcon Inc. | Stock-Healthcare | 0.02% | — | -28.65% | |
| 28 | INTU | Intuit Inc | Stock-Tech | — | -1.67% | -99.72% |
Portfolio Performance
Performance for Q3 2026
+3.9%
Performance Last 4 Quarters
+6.6%
- Stdev
- +17.4%
- Beta
- +1.06
- Alpha
- -7%
- Max Drawdown
- -12.3%
- Annualized Perf
- +13.5%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +1.41
- Stutzer
- +0.24
- Treynor
- +0.13
- Sterling
- +0.65
- Calmar
- +1.1
- Information Ratio
- -0.54
- Tracking Error
- +10.8%
- Stdev Down
- +10.1%
- Winning Months %
- +55.6%
- Losing Months %
- +44.4%
- Best 12 Months
- +21.9%
- Worst 12 Months
- -9.5%
- Efficiency Ratio
- +0.31
- Sharpe
- +0.81
- Stdev Sectors
- +7%
- Skewness
- -0.14
- Kurtosis
- -0.7
- Upside Potential
- +3.19
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 28 | $276.7M | 0 | ||
| 2026 Q1 | 32 | $489.2M | 100 | ||
| 2025 Q4 | 34 | $475.3M | 100 | ||
| 2025 Q3 | 34 | $296.7M | 73 | ||
| 2025 Q2 | 26 | $256.2M | 0 | ||
| 2025 Q1 | 26 | $171.8M | 100 | ||
| 2024 Q4 | 27 | $175.7M | 0 | ||
| 2024 Q3 | 18 | $124.9M | 0 | ||
| 2024 Q2 | 18 | $142.6M | 0 | ||
| 2024 Q1 | 13 | $129.6M | 0 | ||
| 2023 Q4 | 8 | $117.8M | 0 | ||
| 2023 Q3 | 8 | $124.4M | 0 | ||
| 2023 Q2 | 12 | $186.3M | 0 | ||
| 2023 Q1 | 12 | $175.7M | 0 | ||
| 2022 Q4 | 7 | $155.9M | 0 | ||
| 2022 Q3 | 8 | $149.8M | 0 | ||
| 2022 Q2 | 8 | $149.8M | 0 | ||
| 2022 Q1 | 6 | $206.8M | 0 | ||
| 2021 Q4 | 10 | $383.2M | 0 | ||
| 2021 Q3 | 13 | $422.2M | 0 | ||
| 2021 Q2 | 17 | $440.6M | 74 | ||
| 2021 Q1 | 15 | $260.0M | 100 | ||
| 2020 Q4 | 19 | $139.6M | 100 | ||
| 2020 Q3 | 19 | $152.6M | 100 | ||
| 2020 Q2 | 16 | $97.0M | 95 | ||
| 2020 Q1 | 11 | $51.3M | 100 | ||
| 2019 Q4 | 28 | $81.4M | 100 | ||
| 2019 Q3 | 30 | $130.3M | 100 | ||
| 2019 Q2 | 50 | $225.1M | 100 | ||
| 2019 Q1 | 41 | $205.5M | 100 | ||
| 2018 Q4 | 107 | $170.4M | 100 | ||
| 2018 Q3 | 129 | $319.4M | 100 | ||
| 2018 Q2 | 132 | $231.1M | 95 | ||
| 2018 Q1 | 123 | $333.3M | 79 | ||
| 2017 Q4 | 97 | $322.0M | 93 | ||
| 2017 Q3 | 114 | $511.6M | 91 | ||
| 2017 Q2 | 106 | $320.7M | 80 | ||
| 2017 Q1 | 37 | $322.6M | 85 | ||
| 2016 Q4 | 35 | $303.7M | 58 | ||
| 2016 Q3 | 39 | $318.9M | 69 | ||
| 2016 Q2 | 32 | $257.7M | 100 | ||
| 2016 Q1 | 25 | $192.1M | 88 | ||
| 2015 Q4 | 23 | $164.9M | 0 |
Holding changes this quarter
Exane Asset Management's most significant position changes for 2026-06-30: Sold out: Linde plc (LIN); New buy: Deutsche Bank Aktiengesellschaft (DB); Sold out: Netflix Inc (NFLX); New buy: Intl Flavors & Fragrances (IFF); New buy: Palo Alto Networks Inc (PANW).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | DB | Deutsche Bank Aktiengesellschaft | +6.9% | NEW | New buy |
| 2 | IFF | Intl Flavors & Fragrances | +6.1% | NEW | New buy |
| 3 | SNOW | Snowflake Inc | +4.7% | +144.56% | Add |
| 4 | PANW | Palo Alto Networks Inc | +3.9% | NEW | New buy |
| 5 | FIG | Figma Inc-cl A | +3.2% | NEW | New buy |
| 6 | TTWO | Take-two Interactive Softwre | +3% | NEW | New buy |
| 7 | SW | Smurfit Westrock Plc | +2.8% | -33.22% | Trim |
| 8 | ABNB | Airbnb Inc-class A | +2.7% | NEW | New buy |
| 9 | DDOG | Datadog Inc - Class A | +2.3% | -45.23% | Trim |
| 10 | SPOT | Spotify Technology S.A. | +2.1% | -18.51% | Trim |
| 11 | ✓ | Ferrovial Se | +1.9% | -33.25% | Trim |
| 12 | ZS | Zscaler Inc | +1.7% | NEW | New buy |
| 13 | SHOP | Shopify Inc - Class A | +1.6% | +6.21% | Add |
| 14 | CRM | Salesforce Inc | +1.5% | NEW | New buy |
| 15 | GWRE | Guidewire Software Inc | +1.5% | +2827.75% | Add |
| 16 | CRWD | Crowdstrike Holdings Inc - A | +0.8% | -43.88% | Trim |
| 17 | LOGI | Logitech International S.A. | 0% | +24.33% | Add |
| 18 | ALC | Alcon Inc. | — | -28.65% | Trim |
| 19 | PCOR | Procore Technologies Inc | — | EXIT | Sold out |
| 20 | BKNG | Booking Holdings Inc | 0% | EXIT | Sold out |
| 21 | TTE | TotalEnergies SE | -0.2% | -85.02% | Trim |
| 22 | NOW | Servicenow Inc | -0.4% | EXIT | Sold out |
| 23 | TEAM | Atlassian Corp-cl A | -0.4% | EXIT | Sold out |
| 24 | ACN | Accenture plc | -0.7% | -95.17% | Trim |
| 25 | DASH | Doordash Inc - A | -0.7% | -60.69% | Trim |
| 26 | HUBS | Hubspot Inc | -0.7% | EXIT | Sold out |
| 27 | MDB | Mongodb Inc | -1.3% | EXIT | Sold out |
| 28 | BIRK | Birkenstock Holding plc | -1.3% | EXIT | Sold out |
| 29 | AZN | AstraZeneca PLC | -1.3% | -50.65% | Trim |
| 30 | BSX | Boston Scientific CORP | -1.3% | EXIT | Sold out |
| 31 | INTU | Intuit Inc | -1.7% | -99.72% | Trim |
| 32 | STLA | Stellantis N.V. | -2% | EXIT | Sold out |
| 33 | QXO | Qxo Inc | -2.2% | EXIT | Sold out |
| 34 | AMZN | Amazon.com Inc | -2.6% | -70.60% | Trim |
| 35 | META | Meta Platforms Inc-class A | -2.8% | -65.43% | Trim |
| 36 | AMRZ | Amrize Ltd | -3.1% | -75.41% | Trim |
| 37 | NFLX | Netflix Inc | -3.6% | EXIT | Sold out |
| 38 | CRH | CRH plc | -3.9% | -75.27% | Trim |
| 39 | LIN | Linde plc | -6% | EXIT | Sold out |
| 40 | UBS | UBS Group AG | -10.6% | -90.40% | Trim |
💡
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.
Filing History
FAQ
What is Exane Asset Management and what type of investor is it?
Exane Asset Management 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 $276.7M, spread across 28 disclosed positions.
What are Exane Asset Management's largest equity positions?
Based on the latest 13F filing, Exane Asset Management's top holdings by market value are:
1. Smurfit Westrock Plc (SW) — $29.5M (10.7%)
2. Ferrovial Se — $25.2M (9.1%)
3. Spotify Technology S.A. (SPOT) — $21.8M (7.9%)
4. Deutsche Bank Aktiengesellschaft (DB) — $19.1M (6.9%)
5. AstraZeneca PLC (AZN) — $17.7M (6.4%)
What changes did Exane Asset Management make in its most recent portfolio filing?
In the latest reported quarter, Exane Asset Management made 40 notable position adjustments: 8 new positions were initiated, 4 existing holdings were added to, 16 positions were partially reduced, and 12 were completely exited. The largest of these moves: Sold out: Linde plc (LIN); New buy: Deutsche Bank Aktiengesellschaft (DB); Sold out: Netflix Inc (NFLX); New buy: Intl Flavors & Fragrances (IFF); New buy: Palo Alto Networks Inc (PANW)
What sectors does Exane Asset Management focus on?
Exane Asset Management is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 27.2%
• Consumer Discretionary: 24.0%
• Communication Services: 17.1%
• Materials: 13.0%
• Financials: 11.3%
• Health Care: 7.3%
Investment Profile
Exane Asset Management returned an annualized 13.5% over the trailing 36 months — underperforming the S&P 500 by 7.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.06 (roughly in line with the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
Its concentration score has fallen from 42 to 23 over the past 4 quarters — a shift toward broader diversification.
It has trimmed its CRH position for two straight quarters, cutting it by $109.4M while still holding $8.4M.
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