Agricole Credit portfolio

What changed this quarter

960 positions with a change (97 new, 545 added to, 255 trimmed, 63 sold); also, 3 entered through an IPO, 7 exited through an acquisition or merger, 5 entered through a spin-off. 3 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• NVIDIA+12%more sharesIncreased
  8.7% → 8.7%
• Micron Technology−48%fewer sharesReduced
  1.1% → 1.5%
• Alphabet+13%more sharesIncreased
  4.2% → 4.6%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• NVIDIANVDA8.7%
• AlphabetGOOGL · GOOG6.5%
• MicrosoftMSFT5.3%
• AppleAAPL4.5%
• BroadcomAVGO3.6%
• Amazon.comAMZN3.5%
• JPMorgan ChaseJPM2.3%
• Meta PlatformsMETA2.1%
• TotalEnergiesTTE1.9%
• AstrazenecaAZN1.8%
• Micron TechnologyMU1.5%
• Applied MaterialsAMAT1.3%
• TeslaTSLA1.2%
• MastercardMA1.2%
• Eli LillyLLY1.1%
• Berkshire HathawayBRK/B1.1%
• Advanced Micro DevicesAMD1.1%
• Analog DevicesADI1.0%
• UnitedHealth GroupUNH0.9%
• Taiwan Semiconductor ManufacturingTSM0.8%
• Cisco SystemsCSCO0.7%
• NetflixNFLX0.7%
• Home DepotHD0.7%
• Bank of AmericaBAC0.7%
• Lam ResearchLRCX0.7%
• AbbVieABBV0.6%
• GE AerospaceGE0.6%
• Goldman Sachs GroupGS0.5%
• VisaV0.5%
• Johnson & JohnsonJNJ0.5%
• Palo Alto NetworksPANW0.5%
• AmphenolAPH0.5%
• State Str Spdr S&P 500 ETF TSPY0.4%
• WalmartWMT0.4%
• FerrovialFER0.4%
• GE VernovaGEV0.4%
• KLAKLAC0.4%
• OracleORCL0.4%
• Coca-ColaKO0.4%
• Procter & GamblePG0.4%
• EatonETN0.4%
• Thermo Fisher ScientificTMO0.4%
• UBER TechnologiesUBER0.4%
• FerrariRACE0.3%
• SandiskSNDK0.3%
• StrykerSYK0.3%
• ServiceNowNOW0.3%
• Invesco QQQ Trust Series 1 ETFQQQ0.3%
• LindeLIN0.3%
• American ExpressAXP0.3%
• Lockheed MartinLMT0.3%
• Bank of New York MellonBNY0.3%
• Abbott LaboratoriesABT0.3%
• MerckMRK0.3%
• Marvell TechnologyMRVL0.3%
• Gilead SciencesGILD0.3%
• CloudflareNET0.3%
• Nextera EnergyNEE0.3%
• Waste ManagementWM0.3%
• SalesforceCRM0.3%
• IntelINTC0.3%
• Trane TechnologiesTT0.3%
• S&P GlobalSPGI0.3%
• BlackRockBLK0.3%
• McDONALD’SMCD0.3%
• TJXTJX0.2%
• Seagate Technology HoldingsSTX0.2%
• VICI PropertiesVICI0.2%
• WelltowerWELL0.2%
• Costco WholesaleCOST0.2%
• Booking HoldingsBKNG0.2%
• Walt DisneyDIS0.2%
• Polestar Automotive Holding UKPSNY0.2%
• UBS GroupUBS0.2%
• Deutsche Bank AktiengesellschaftDB0.2%
• DeereDE0.2%
• Vertiv HoldingsVRT0.2%
• PepsicoPEP0.2%
• CaterpillarCAT0.2%
• CumminsCMI0.2%
• DanaherDHR0.2%
• Simon Property GroupSPG0.2%
• Spotify TechnologySPOT0.2%
• SnowflakeSNOW0.2%
• Dell TechnologiesDELL0.2%
• AirbnbABNB0.2%
• Logitech InternationalLOGI0.2%
• Philip Morris InternationalPM0.2%
• Bristol-myers SquibbBMY0.2%
• Boston ScientificBSX0.2%
• Palantir TechnologiesPLTR0.2%
• DatadogDDOG0.2%
• Texas InstrumentsTXN0.2%
• Cadence Design SystemsCDNS0.2%
• Howmet AerospaceHWM0.2%
• Morgan StanleyMS0.2%
• At&tT0.2%
• QualcommQCOM0.2%
• PfizerPFE0.2%