13F Insight
DOSSIER · 13F-HR · Q1 2026

Exane Asset Management

$489M in tracked AUM across 32 positions as of Q1 2026.

EA
CIK 0001666256 · last filed Mar 31, 2026
Total AUM
$489M
as of Q1 2026
Holdings
32
—
positions
Whale Score
62
62
tracked
Activity
—
no data
changes this Q
AI Analysis · Q1 2026
Comprehensive Analysis of Exane Asset Management SEC 13F Filing
1. Portfolio Overview

Exane Asset Management’s portfolio for the period ending September 30, 2025, reflects a high-conviction, concentrated investment strategy. With a total portfolio value of approximately $246.38 million spread across only 24 holdings, the fund demonstrates a preference for focused exposure over broad diversification. The portfolio experienced a slight contraction of 3.8% (down from $256.15 million in the pr...

The concentration risk is significant; the top three holdings—CRH PLC, Ferrovial SE, and JPMorgan Chase—account for over 61% of the total assets. Furthermore, the "Unknown" sector, which comprises primarily large-cap international industrials and materials, represents nearly 82.5% of the portfolio. This suggests that Exane is not a generalist market indexer but rather a thematic investor with strong convictions in specific global infrastructure, materials, and financial recovery stories.

2. Key Holdings

The portfolio is dominated by a handful of massive positions that dictate its performance profile:

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
H42097107
UBS GROUP AG
$67M1.9M13.6%02
G8267P108
SMURFIT WESTROCK PLC
$38M837K7.8%03
G0593M107
ASTRAZENECA PLC
$38M222K7.7%04
N3168P101
FERROVIAL SE
$35M551K7.2%05
META
FACEBOOK INC
$34M51K6.9%06
G25508105
CRH PLC
$34M279K6.9%07
AMZN
AMAZON.COM INC
$31M130K6.4%08
G54950103
LINDE PLC
$29M51K6.0%09
L8681T102
SPOTIFY TECHNOLOGY SA
$28M51K5.8%10
H2927K103
AMRIZE LTD
$26M528K5.4%

Filing history

2026Q1Mar 31
$489M▲ 2.9%
32 positionsView →2025Q4Dec 31
$475M▲ 92.9%
34 positionsView →2025Q3Sep 30
$246M▼ 3.8%
24 positionsView →2025Q2Jun 30
$256M▲ 86.5%
26 positionsLocked2025Q1Mar 31
$137M▼ 21.8%
20 positionsLocked2024Q4Dec 31
$176M▲ 40.6%
27 positionsLocked2024Q3Sep 30
$125M▼ 12.4%
18 positionsLocked2024Q2Jun 30
$143M▲ 10.0%
18 positionsLocked2024Q1Mar 31
$130M▲ 10.0%
13 positionsLocked2023Q4Dec 31
$118M▼ 5.3%
8 positionsLocked2023Q3Sep 30
$124M▼ 33.2%
8 positionsLocked2023Q2Jun 30
$186M▲ 6.1%
12 positionsLocked
Showing 12 of 34