Banque Transatlantique's Q4 Portfolio Is a Megacap Concentration Map: Top-5 at 46.4%
Banque Transatlantique SA reported a $4.13T portfolio with almost half of capital in five stocks led by Microsoft and NVIDIA.
Banque Transatlantique SA filed a Q4 book with top-5 holdings at 46.4% of total value, making this one of the more concentrated mega-cap portfolios in the current set.
TL;DR
- AUM: ~$4.13T.
- Top-1 weight: 12.6% in MSFT.
- Top-5 weight: 46.4% across MSFT, NVDA, AMZN, AAPL, GOOG.
- Breadth: 259 holdings, but capital is front-loaded.
- QoQ flow: 145 new positions and 11 exits.
- Signal: A broad list with narrow economic drivers.
Filing Snapshot
| Filer | Banque Transatlantique SA |
|---|---|
| Reported AUM | ~$4.13T |
| Holdings | 259 |
| Top Holdings | MSFT, NVDA, AMZN, AAPL, GOOG |
Why Concentration Matters Here
A portfolio can look diversified by line count and still be factor-concentrated. This filing is a good example: 259 holdings, but almost half of capital tied to the same macro theme of U.S. mega-cap growth and AI-linked capex resilience.
For practical use, this means a drawdown in the top cluster can dominate results even if dozens of smaller names are green.
How to Use This on 13F Insight
- Track this filer: Banque Transatlantique SA.
- Compare concentration with Groupama and BSN Capital Partners.
- Set alerts around the top basket: MSFT, NVDA, AMZN.
Q&A
Is 46% top-5 concentration high?
Yes. For a 259-line portfolio, that's a meaningfully concentrated capital allocation.
What would de-risking look like next quarter?
Lower top-5 weight and larger incremental allocations outside the mega-cap core.
Why compare with peers?
Peer overlap helps separate market beta from manager-specific conviction.
Where should retail users focus?
Follow changes in the top 10 before analyzing tail holdings.
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