2025 Q2 Portfolio Activity
In 2025 Q2, Quaero Capital S.A. maintained a portfolio of 75 distinct positions. The most significant new addition was CMS ENERGY CORP, now representing 0.62% of the total fund value. They heavily accumulated shares in ITRON INC, increasing the position by 380.0%. The fund also reduced its exposure to ITRON INC by 60.0%.
Position History
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Total Positions
75
Quarter
2025 Q2
Top Holding
TSM (4.2%)
Top 10 Concentration
30.9%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 75
Quaero Capital S.A. Full Holdings List — 2025 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
TSM
TAIWAN SEMICOND...
|
Technology | 4.22% | 3.98% |
#1
1
Prev: #2
|
4.2 |
—
|
-1,960 | -11.6% |
P
S
|
14,876 | $3,369,265 | 2020 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
GEV
GE VERNOVA INC
|
Industrials | 3.76% | 2.27% |
#2
11
Prev: #13
|
5.0 |
—
|
450 | 8.6% |
P
S
|
5,666 | $2,998,164 | 2024 Q3 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
N/A
ITRON INC
|
|
Bond/Debt | 3.38% | 2.93% |
#3
2
Prev: #5
|
4.9 |
—
|
400,000 | 20.0% |
P
S
|
2,400,000 | $2,695,920 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
ETN
EATON CORP PLC
|
Industrials | 3.31% | 3.33% |
#4
1
Prev: #3
|
2.3 |
—
|
-1,205 | -14.0% |
P
S
|
7,394 | $2,639,584 | 2024 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
BEPC
BROOKFIELD RENE...
|
Utilities | 2.98% | 2.88% |
#5
1
Prev: #6
|
2.7 |
—
|
no change | no change |
P
S
|
72,501 | $2,376,583 | 2025 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
LIN
LINDE PLC
|
Basic Materials | 2.75% | 3.10% |
#6
2
Prev: #4
|
2.1 |
—
|
no change | no change |
P
S
|
4,677 | $2,194,355 | 2022 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
NEE
NEXTERA ENERGY ...
|
Utilities | 2.74% | 4.52% |
#7
6
Prev: #1
|
1.1 |
—
|
-13,282 | -29.7% |
P
S
|
31,498 | $2,186,591 | 2020 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
VRT
VERTIV HOLDINGS...
|
Industrials | 2.70% | 1.57% |
#8
25
Prev: #33
|
3.1 |
—
|
1,530 | 10.0% |
P
S
|
16,781 | $2,154,848 | 2024 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
N/A
AMERICAN WTR CA...
|
|
Bond/Debt | 2.52% | 2.19% |
#9
7
Prev: #16
|
3.5 |
—
|
500,000 | 33.3% |
P
S
|
2,000,000 | $2,008,860 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
LIBERTY MEDIA C...
|
|
Bond/Debt | 2.52% | 1.74% |
#10
17
Prev: #27
|
4.0 |
—
|
500,000 | 50.0% |
P
S
|
1,500,000 | $2,007,300 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
SOUTHERN CO
|
|
Bond/Debt | 2.49% | 2.87% |
#11
4
Prev: #7
|
2.0 |
—
|
no change | no change |
P
S
|
1,800,000 | $1,990,548 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
UBER TECHNOLOGI...
|
|
Bond/Debt | 2.49% | 2.42% |
#12
2
Prev: #10
|
2.0 |
—
|
no change | no change |
P
S
|
1,400,000 | $1,988,938 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
TRIP COM GROUP ...
|
|
Bond/Debt | 2.49% | — |
#13
Prev: #—
|
4.5 |
—
|
1,800,000 | — |
NEW
|
1,800,000 | $1,986,462 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
BENTLEY SYS INC
|
|
Bond/Debt | 2.48% | 2.21% |
#14
1
Prev: #15
|
3.5 |
—
|
400,000 | 25.0% |
P
S
|
2,000,000 | $1,977,400 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
ALIBABA GROUP H...
|
|
Bond/Debt | 2.38% | — |
#15
Prev: #—
|
4.5 |
—
|
1,500,000 | — |
NEW
|
1,500,000 | $1,900,770 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
TYLER TEX INDPT...
|
|
Bond/Debt | 2.31% | 2.60% |
#16
7
Prev: #9
|
1.9 |
—
|
no change | no change |
P
S
|
1,500,000 | $1,843,950 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
AXON ENTERPRISE...
|
|
Bond/Debt | 2.27% | 1.66% |
#17
13
Prev: #30
|
1.9 |
—
|
no change | no change |
P
S
|
500,000 | $1,808,350 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
WESTERN DIGITAL...
|
|
Bond/Debt | 2.25% | 1.82% |
#18
6
Prev: #24
|
1.9 |
—
|
no change | no change |
P
S
|
1,000,000 | $1,794,860 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
DROPBOX INC
|
|
Bond/Debt | 2.12% | 2.38% |
#19
8
Prev: #11
|
1.8 |
—
|
no change | no change |
P
S
|
1,700,000 | $1,695,070 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
HASI
HA SUSTAINABLE ...
|
Financial Services | 2.12% | 2.79% |
#20
12
Prev: #8
|
1.3 |
—
|
-4,200 | -6.3% |
P
S
|
62,908 | $1,689,709 | 2020 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
N/A
AKAMAI TECHNOLO...
|
|
Bond/Debt | 2.07% | 2.37% |
#21
9
Prev: #12
|
1.8 |
—
|
no change | no change |
P
S
|
1,700,000 | $1,649,340 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
WEC ENERGY GROU...
|
|
Bond/Debt | 1.98% | — |
#22
Prev: #—
|
4.3 |
—
|
1,400,000 | — |
NEW
|
1,400,000 | $1,576,960 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
TETRA TECH INC ...
|
|
Unknown | 1.97% | 1.76% |
#23
3
Prev: #26
|
2.8 |
—
|
200,000 | 16.7% |
P
S
|
1,400,000 | $1,575,000 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
SHOPIFY INC
|
|
Bond/Debt | 1.91% | 2.15% |
#24
7
Prev: #17
|
1.8 |
—
|
no change | no change |
P
S
|
1,500,000 | $1,524,480 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
FORD MTR CO
|
|
Bond/Debt | 1.85% | 2.09% |
#25
6
Prev: #19
|
1.7 |
—
|
no change | no change |
P
S
|
1,500,000 | $1,478,955 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
PARSONS CORP DE...
|
|
Bond/Debt | 1.76% | 2.00% |
#26
6
Prev: #20
|
1.7 |
—
|
no change | no change |
P
S
|
1,400,000 | $1,404,200 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
HUBB
HUBBELL INC
|
Industrials | 1.71% | 1.97% |
#27
6
Prev: #21
|
0.7 |
—
|
-850 | -20.3% |
P
S
|
3,335 | $1,362,047 | 2024 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
N/A
FLUOR CORP
|
|
Bond/Debt | 1.65% | 1.52% |
#28
6
Prev: #34
|
1.7 |
—
|
no change | no change |
P
S
|
1,000,000 | $1,318,000 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
COINBASE GLOBAL...
|
|
Bond/Debt | 1.64% | — |
#29
Prev: #—
|
4.2 |
—
|
1,000,000 | — |
NEW
|
1,000,000 | $1,306,120 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
GRANITE CONSTR ...
|
|
Bond/Debt | 1.56% | — |
#30
Prev: #—
|
4.1 |
—
|
1,000,000 | — |
NEW
|
1,000,000 | $1,247,500 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
NXT
NEXTRACKER INC
|
Technology | 1.54% | 2.12% |
#31
13
Prev: #18
|
0.6 |
—
|
-12,696 | -36.0% |
P
S
|
22,566 | $1,226,913 | 2024 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
N/A
ALARM COM HLDGS...
|
|
Bond/Debt | 1.46% | — |
#32
Prev: #—
|
4.1 |
—
|
1,200,000 | — |
NEW
|
1,200,000 | $1,167,840 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
PROGRESS SOFTWA...
|
|
Bond/Debt | 1.45% | 0.90% |
#33
16
Prev: #49
|
3.6 |
—
|
400,000 | 66.7% |
P
S
|
1,000,000 | $1,160,000 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
MIDDLEBY CORP
|
|
Bond/Debt | 1.42% | 1.72% |
#34
5
Prev: #29
|
1.6 |
—
|
no change | no change |
P
S
|
1,000,000 | $1,132,100 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
RAPID7 INC
|
|
Bond/Debt | 1.33% | 1.47% |
#35
1
Prev: #36
|
1.5 |
—
|
no change | no change |
P
S
|
1,200,000 | $1,064,640 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
HAEMONETICS COR...
|
|
Bond/Debt | 1.25% | — |
#36
Prev: #—
|
4.0 |
—
|
1,000,000 | — |
NEW
|
1,000,000 | $994,470 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
MKS INC.
|
|
Bond/Debt | 1.24% | — |
#37
Prev: #—
|
4.0 |
—
|
1,000,000 | — |
NEW
|
1,000,000 | $986,600 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
MERITAGE HOMES ...
|
|
Bond/Debt | 1.22% | — |
#38
Prev: #—
|
4.0 |
—
|
1,000,000 | — |
NEW
|
1,000,000 | $972,990 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
AIRBNB INC
|
|
Bond/Debt | 1.21% | 1.36% |
#39
3
Prev: #42
|
1.5 |
—
|
no change | no change |
P
S
|
1,000,000 | $963,890 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
GLOBAL PMTS INC
|
|
Bond/Debt | 1.20% | 1.36% |
#40
1
Prev: #41
|
1.5 |
—
|
no change | no change |
P
S
|
1,000,000 | $954,900 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
POST HLDGS INC
|
|
Bond/Debt | 1.14% | 1.36% |
#41
1
Prev: #40
|
1.5 |
—
|
no change | no change |
P
S
|
800,000 | $912,768 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
N/A
HALOZYME THERAP...
|
|
Bond/Debt | 1.14% | 1.46% |
#42
5
Prev: #37
|
1.5 |
—
|
no change | no change |
P
S
|
800,000 | $910,640 | — | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | ||
|
ETR
ENTERGY CORP NE...
|
Utilities | 0.82% | 1.88% |
#43
20
Prev: #23
|
0.3 |
—
|
-7,545 | -48.9% |
P
S
|
7,899 | $656,565 | 2024 Q3 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
WCN
WASTE CONNECTIO...
|
Industrials | 0.74% | 2.27% |
#44
30
Prev: #14
|
0.3 |
—
|
-5,008 | -61.4% |
P
S
|
3,146 | $587,421 | 2024 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
LNG
CHENIERE ENERGY...
|
Energy | 0.73% | 1.74% |
#45
17
Prev: #28
|
0.3 |
—
|
-2,882 | -54.6% |
P
S
|
2,392 | $582,500 | 2021 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
PWR
QUANTA SVCS INC
|
Industrials | 0.70% | 0.76% |
#46
4
Prev: #50
|
0.3 |
—
|
-620 | -29.6% |
P
S
|
1,478 | $558,802 | 2024 Q3 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
TRP
TC ENERGY CORP
|
Energy | 0.70% | 1.95% |
#47
25
Prev: #22
|
0.3 |
—
|
-17,600 | -60.8% |
P
S
|
11,365 | $555,190 | 2024 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
KMI
KINDER MORGAN I...
|
Energy | 0.66% | 1.47% |
#48
13
Prev: #35
|
0.3 |
—
|
-18,337 | -50.7% |
P
S
|
17,846 | $524,672 | 2025 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
CMS
CMS ENERGY CORP
|
Utilities | 0.62% | — |
#49
Prev: #—
|
3.7 |
—
|
7,161 | — |
NEW
|
7,161 | $496,114 | 2025 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
ITRI
ITRON INC
|
Technology | 0.62% | 0.34% |
#50
4
Prev: #54
|
3.2 |
—
|
1,430 | 62.2% |
P
S
|
3,730 | $490,980 | 2020 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) |
Showing 1-50 of 75 holdings