TF
Towarzystwo Funduszy Inwestycyjnych Pzu SA 13F Holdings (690 Positions, Q2 2026)
Towarzystwo Funduszy Inwestycyjnych Pzu SACIK: 0002071170
Diversified strategyLong-term holderSector-focused
Total reported value
$354.8M
Reporting period: 2026-06-30 · Number of holdings: 690
TOWARZYSTWO FUNDUSZY INWESTYCYJNYCH PZU SA disclosed 690 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $354.8M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 16.81
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 82.42
- Diversification
- 100
- Sizing Uniformity
- 47.04
Towarzystwo Funduszy Inwestycyjnych Pzu SA's disclosed holdings carry a Herfindahl concentration index of 0.042 — mathematically equivalent to about 24 equally-sized positions, well below its 690 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 5.30), 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.govTrim CVX
-93.7% -$21.2M
New buy SOXX
Add GLD
+2323.1% $5.5M
Add MU
+4.5% $5.5M
Trim MSFT
-1.4% -$111.0K
New buy DBA
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 690 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 17.25% | +0.73% | +8.50% | |
| 2 | SOXX | Ishares Semiconductor ETF | ETF-Other | 6.32% | +6.32% | NEW | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.70% | -0.94% | -1.42% | |
| 4 | AAPL | Apple Inc | Stock-Tech | 3.42% | +0.01% | +4.89% | |
| 5 | ✓ | On Holding AG | Stock-Other | 2.80% | -0.40% | — | |
| 6 | MU | Micron Technology Inc | Stock-Tech | 2.17% | +1.45% | +4.52% | |
| 7 | AVGO | Broadcom Inc | Stock-Tech | 2.03% | +0.15% | +5.83% | |
| 8 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.86% | -0.36% | -12.92% | |
| 9 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.78% | +0.19% | +7.32% | |
| 10 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.73% | -0.27% | +4.50% | |
| 11 | GLD | Spdr Gold Shares | ETF-Commodities | 1.64% | +1.55% | +2323.08% | |
| 12 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.41% | +0.08% | -3.30% | |
| 13 | AXON | Axon Enterprise Inc | Stock-Industrials | 1.13% | +0.15% | +4.85% | |
| 14 | CCJ | Cameco CORP | Stock-Energy | 1.06% | -0.19% | +7.76% | |
| 15 | NEM | Newmont CORP | Stock-Materials | 1.02% | -0.56% | -10.75% | |
| 16 | CRWD | Crowdstrike Holdings Inc - A | Stock-Tech | 0.97% | +0.34% | -5.94% | |
| 17 | DBA | Invesco Db Agriculture Fund | ETF-Other | 0.91% | +0.91% | NEW | |
| 18 | GEV | GE Vernova Inc | Stock-Industrials | 0.90% | +0.17% | +9.61% | |
| 19 | AMD | Advanced Micro Devices | Stock-Tech | 0.77% | +0.44% | -3.54% | |
| 20 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.73% | -0.57% | -12.37% | |
| 21 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.72% | -0.09% | +1.90% | |
| 22 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.71% | +0.16% | +0.83% | |
| 23 | ISRG | Intuitive Surgical Inc | Stock-Healthcare | 0.68% | -0.25% | +1.17% | |
| 24 | ABBV | Abbvie Inc | Stock-Healthcare | 0.62% | -0.01% | +0.45% | |
| 25 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.61% | +0.09% | +14.07% | |
| 26 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.61% | +0.04% | +13.35% | |
| 27 | XOM | Exxon Mobil CORP | Stock-Energy | 0.60% | -0.50% | -19.34% | |
| 28 | NOW | Servicenow Inc | Stock-Tech | 0.57% | -0.14% | +1.54% | |
| 29 | CSCO | Cisco Systems Inc | Stock-Tech | 0.54% | +0.08% | -6.66% | |
| 30 | B | Barrick Mining CORP | Stock-Materials | 0.54% | -0.30% | -14.13% | |
| 31 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.52% | — | +7.29% | |
| 32 | AZN | AstraZeneca PLC | Stock-Healthcare | 0.47% | +0.04% | +34.90% | |
| 33 | PL | Planet Labs Pbc | Stock-Industrials | 0.46% | +0.16% | +55.99% | |
| 34 | CRM | Salesforce Inc | Stock-Tech | 0.46% | -0.33% | -17.98% | |
| 35 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.44% | -0.09% | -7.22% | |
| 36 | V | Visa Inc-class A Shares | Stock-Financials | 0.44% | +0.02% | +8.92% | |
| 37 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 0.43% | -0.27% | -14.42% | |
| 38 | NET | Cloudflare Inc - Class A | Stock-Tech | 0.42% | -0.22% | -33.91% | |
| 39 | DXCM | Dexcom Inc | Stock-Healthcare | 0.41% | -0.05% | — | |
| 40 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 0.39% | -0.09% | +2.63% | |
| 41 | AS | Amer Sports, Inc. | Stock-Consumer Disc | 0.39% | -0.06% | — | |
| 42 | MCHI | Ishares Msci China ETF | ETF-Emerging Markets | 0.39% | +0.15% | +107.86% | |
| 43 | COPX | Global X Copper Miners ETF | ETF-Other | 0.38% | +0.38% | NEW | |
| 44 | WST | West Pharmaceutical Services | Stock-Healthcare | 0.38% | +0.04% | -7.29% | |
| 45 | WMT | Walmart Inc | Stock-Consumer Staples | 0.37% | -0.10% | +3.05% | |
| 46 | PANW | Palo Alto Networks Inc | Stock-Tech | 0.36% | -0.08% | -54.22% | |
| 47 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.35% | -0.01% | +11.00% | |
| 48 | EWZ | Ishares Msci Brazil ETF | ETF-Other | 0.35% | +0.35% | NEW | |
| 49 | MA | Mastercard Inc - A | Stock-Financials | 0.33% | -0.04% | +5.09% | |
| 50 | INTC | Intel CORP | Stock-Tech | 0.33% | +0.21% | +6.15% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+3.5%
Performance Last 4 Quarters
+24.9%
- Stdev
- +14.6%
- Beta
- +1.08
- Alpha
- -3.2%
- Max Drawdown
- -10.3%
- Annualized Perf
- +17%
- Batting Avg vs S&P
- +43.3%
- Sortino
- +2.04
- Stutzer
- +0.33
- Treynor
- +0.16
- Sterling
- +0.9
- Calmar
- +1.66
- Information Ratio
- -0.25
- Tracking Error
- +6.4%
- Stdev Down
- +8.3%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +37.3%
- Worst 12 Months
- -3.9%
- Efficiency Ratio
- +0.44
- Sharpe
- +1.16
- Stdev Sectors
- +12.9%
- Skewness
- -0.33
- Kurtosis
- -0.49
- Upside Potential
- +3.7
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 690 | $354.8M | 0 | ||
| 2026 Q1 | 687 | $297.7M | 54 | ||
| 2025 Q4 | 682 | $397.2M | 35 | ||
| 2025 Q3 | 662 | $422.0M | 0 | ||
| 2025 Q2 | 658 | $355.6M | 0 | ||
| 2025 Q1 | 654 | $293.3M | 0 | ||
| 2024 Q4 | 627 | $303.0M | 0 | ||
| 2024 Q3 | 582 | $275.1M | 0 | ||
| 2024 Q2 | 564 | $267.9M | 0 | ||
| 2024 Q1 | 573 | $236.1M | 0 | ||
| 2023 Q4 | 558 | $218.0M | 0 | ||
| 2021 Q3 | 389 | $83.8M | 0 | ||
| 2021 Q2 | 374 | $84.6M | 0 | ||
| 2021 Q1 | 338 | $68.7M | 0 | ||
| 2020 Q4 | 349 | $96.6M | 0 |
Holding changes this quarter
Towarzystwo Funduszy Inwestycyjnych Pzu SA's most significant position changes for 2026-06-30: New buy: Ishares Semiconductor ETF (SOXX); New buy: Invesco Db Agriculture Fund (DBA); New buy: Global X Copper Miners ETF (COPX); New buy: Ishares Msci Brazil ETF (EWZ); New buy: Gap Inc/the (GAP).
Showing top 200 changes by size (of 733 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SOXX | Ishares Semiconductor ETF | +6.3% | NEW | New buy |
| 2 | GLD | Spdr Gold Shares | +1.6% | +2323.08% | Add |
| 3 | MU | Micron Technology Inc | +1.5% | +4.52% | Add |
| 4 | DBA | Invesco Db Agriculture Fund | +0.9% | NEW | New buy |
| 5 | NVDA | Nvidia CORP | +0.7% | +8.50% | Add |
| 6 | AMD | Advanced Micro Devices | +0.4% | -3.54% | Trim |
| 7 | COPX | Global X Copper Miners ETF | +0.4% | NEW | New buy |
| 8 | EWZ | Ishares Msci Brazil ETF | +0.4% | NEW | New buy |
| 9 | CRWD | Crowdstrike Holdings Inc - A | +0.3% | -5.94% | Trim |
| 10 | GAP | Gap Inc/the | +0.3% | NEW | New buy |
| 11 | INTC | Intel CORP | +0.2% | +6.15% | Add |
| 12 | EC | Ecopetrol Sa-sponsored Adr | +0.2% | NEW | New buy |
| 13 | GOOGL | Alphabet Inc-cl A | +0.2% | +7.32% | Add |
| 14 | KRMN | Karman Holdings Inc | +0.2% | NEW | New buy |
| 15 | GEV | GE Vernova Inc | +0.2% | +9.61% | Add |
| 16 | UNH | Unitedhealth Group Inc | +0.2% | +0.83% | Add |
| 17 | PL | Planet Labs Pbc | +0.2% | +55.99% | Add |
| 18 | AVGO | Broadcom Inc | +0.2% | +5.83% | Add |
| 19 | AXON | Axon Enterprise Inc | +0.2% | +4.85% | Add |
| 20 | MCHI | Ishares Msci China ETF | +0.2% | +107.86% | Add |
| 21 | LRCX | Lam Research CORP | +0.1% | +12.43% | Add |
| 22 | AMAT | Applied Materials Inc | +0.1% | +3.24% | Add |
| 23 | DDOG | Datadog Inc - Class A | +0.1% | +4.38% | Add |
| 24 | KLAC | Kla CORP | +0.1% | +1035.37% | Add |
| 25 | PEP | Pepsico Inc | +0.1% | +234.38% | Add |
| 26 | IEMG | Ishares Core Msci Emerging | +0.1% | +102.50% | Add |
| 27 | MRVL | Marvell Technology Inc | +0.1% | +22.99% | Add |
| 28 | GOOG | Alphabet Inc-cl C | +0.1% | +14.07% | Add |
| 29 | DT | Dynatrace Inc | +0.1% | +134.23% | Add |
| 30 | BE | Bloom Energy Corp- A | +0.1% | +37.50% | Add |
| 31 | RBRK | Rubrik Inc-a | +0.1% | +31.75% | Add |
| 32 | LLY | Eli Lilly & Co | +0.1% | -3.30% | Trim |
| 33 | CSCO | Cisco Systems Inc | +0.1% | -6.66% | Trim |
| 34 | CAT | Caterpillar Inc | +0.1% | +14.27% | Add |
| 35 | LIN | Linde plc | +0.1% | +120.97% | Add |
| 36 | WDC | Western Digital CORP | +0.1% | +20.34% | Add |
| 37 | ✓ | +0.1% | NEW | New buy | |
| 38 | ✓ | +0.1% | NEW | New buy | |
| 39 | NVT | nVent Electric plc | +0.1% | +60.00% | Add |
| 40 | APLD | Applied Digital CORP | +0.1% | +45.18% | Add |
| 41 | GE | General Electric | +0.1% | +9.75% | Add |
| 42 | EEM | Ishares Msci Emerging Market | +0.1% | +46.15% | Add |
| 43 | STX | Seagate Technology Holdings plc | +0.1% | +10.26% | Add |
| 44 | CVLT | Commvault Systems Inc | +0.1% | +42.13% | Add |
| 45 | AAOI | Applied Optoelectronics Inc | +0.1% | +57.42% | Add |
| 46 | GLW | Corning Inc | +0.1% | +16.30% | Add |
| 47 | OGC | Oceanagold CORP | +0.1% | NEW | New buy |
| 48 | NEE | Nextera Energy Inc | +0.1% | +55.32% | Add |
| 49 | VSAT | Viasat Inc | +0.1% | +29.31% | Add |
| 50 | DELL | Dell Technologies -c | +0.1% | +25.98% | Add |
1–50 of 200
Filing History
FAQ
What is Towarzystwo Funduszy Inwestycyjnych Pzu SA and what type of investor is it?
Towarzystwo Funduszy Inwestycyjnych Pzu SA 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 $354.8M, spread across 690 disclosed positions.
What are Towarzystwo Funduszy Inwestycyjnych Pzu SA's largest equity positions?
Based on the latest 13F filing, Towarzystwo Funduszy Inwestycyjnych Pzu SA's top holdings by market value are:
1. Nvidia CORP (NVDA) — $61.2M (17.3%)
2. Ishares Semiconductor ETF (SOXX) — $22.4M (6.3%)
3. Microsoft CORP (MSFT) — $16.7M (4.7%)
4. Apple Inc (AAPL) — $12.1M (3.4%)
5. On Holding AG — $9.9M (2.8%)
What changes did Towarzystwo Funduszy Inwestycyjnych Pzu SA make in its most recent portfolio filing?
In the latest reported quarter, Towarzystwo Funduszy Inwestycyjnych Pzu SA made 196 notable position adjustments: 17 new positions were initiated, 126 existing holdings were added to, 46 positions were partially reduced, and 7 were completely exited. The largest of these moves: New buy: Ishares Semiconductor ETF (SOXX); New buy: Invesco Db Agriculture Fund (DBA); New buy: Global X Copper Miners ETF (COPX); New buy: Ishares Msci Brazil ETF (EWZ); New buy: Gap Inc/the (GAP)
What sectors does Towarzystwo Funduszy Inwestycyjnych Pzu SA focus on?
Towarzystwo Funduszy Inwestycyjnych Pzu SA is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 49.1%
• Health Care: 10.7%
• Industrials: 8.0%
• Communication Services: 6.2%
• Materials: 5.9%
• Consumer Discretionary: 5.8%
Investment Profile
Towarzystwo Funduszy Inwestycyjnych Pzu SA returned an annualized 17.0% over the trailing 30 months — underperforming the S&P 500 by 3.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.08 (roughly in line with the market) and a 43% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 49.1% of the portfolio concentrated in Information Technology.
It has added to its MU position over the past two quarters (+$5.8M, now $7.7M), while trimming MSFT over the same stretch (-$22.8M, still holding $16.7M).
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