Managers / Q2 2025 · view latest →
Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.
CIK 0002054965 · Part of the Allianz family · UL. INFLANCKA 4B, WARSZAWA, R9, 00-189 · 01148 224 224 224
Summary
Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. reported $21M in U.S.-listed holdings across 38 positions for Q2 2025.
The portfolio is heavily concentrated: AMZN alone accounts for 22.7% of reported value.
Compared with Q1 2025, the fund opened 1 new position and exited 2.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 91.6% · $19M
- ADR · 8.3% · $2M
- MLP · 0.1% · $23,875
Quarter-over-Quarter Changes full breakdown →
vs Q1 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| BBarrick Gold Corp | NEW | +68.0K | 68.0K | +$1M | $1M |
| ABXBarrick Gold Corp | SOLD OUT | −367.7K | 0 | −$7M | $0 |
| NKENIKE Inc | SOLD OUT | −12.2K | 0 | −$1M | $0 |
| RGLDRoyal Gold Inc | ADDED | +2.3K | 4.5K | +$486,759 | $803,837 |
| AGFirst Majestic Silver Corp | ADDED | +19.5K | 42.4K | +$213,248 | $350,648 |
| PAASPan American Silver Corp | TRIMMED | −132.1K | 26.8K | −$3M | $759,700 |
| NEMNewmont Mining Corp | TRIMMED | −138.2K | 30.1K | −$7M | $2M |
| DRDDrdgold Ltd - Sponsored ADR | TRIMMED | −24.0K | 8.0K | −$202,160 | $106,640 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | AMZNAmazon.com Inc.history → | Common Stock | 22.72% | $5M | 21.8K |
| 2 | WPMWheaton Precious Metals Corphistory → | Common Stock | 8.37% | $2M | 19.7K |
| 3 | NEMNewmont Mining Corphistory → | Common Stock | 8.31% | $2M | 30.1K |
| 4 | AEMAgnico Eagle Mines Ltdhistory → | Common Stock | 8.22% | $2M | 14.6K |
| 5 | BBarrick Gold Corphistory → | Common Stock | 6.69% | $1M | 68.0K |
| 6 | KGCKinross Gold Corphistory → | Common Stock | 4.59% | $967,934 | 62.2K |
| 7 | GFIGold Fields Ltd.history → | ADR | 4.47% | $942,066 | 39.8K |
| 8 | FNVFranco - Nevada Corphistory → | Common Stock | 4.47% | $941,715 | 5.8K |
| 9 | AUAnglogold Ashantihistory → | Common Stock | 3.95% | $831,706 | 18.5K |
| 10 | RGLDRoyal Gold Inchistory → | Common Stock | 3.82% | $803,837 | 4.5K |
| 11 | PAASPan American Silver Corphistory → | Common Stock | 3.61% | $759,700 | 26.8K |
| 12 | HMYHarmony Gold Mng - Spon ADRhistory → | ADR | 3.34% | $702,691 | 50.3K |
| 13 | AGIAlamos Gold Inc-Class Ahistory → | Common Stock | 2.93% | $617,146 | 23.3K |
| 14 | BTGB2Gold Corphistory → | Common Stock | 2.43% | $512,700 | 142.5K |
| 15 | HLHecla Mining Cohistory → | Common Stock | 1.88% | $395,340 | 66.0K |
| 16 | AGFirst Majestic Silver Corphistory → | Common Stock | 1.66% | $350,648 | 42.4K |
| 17 | FSMFortuna Silver Mines Inchistory → | Common Stock | 1.55% | $327,000 | 50.0K |
| 18 | EGOEldorado Gold Corphistory → | Common Stock | 1.53% | $321,372 | 15.8K |
| 19 | SSRMSsr Mining Inchistory → | Common Stock | 1.35% | $285,376 | 22.4K |
| 20 | EQXEquinox Gold Corp | Common Stock | 0.94% | $197,152 | 34.3K |
| 21 | SVMSilvercorp Metals Inc | Common Stock | 0.94% | $197,050 | 46.7K |
| 22 | CGAUCenterra Gold Inc | Common Stock | 0.88% | $185,803 | 25.9K |
| 23 | DRDDrdgold Ltd - Sponsored ADR | ADR | 0.51% | $106,640 | 8.0K |
| 24 | MPCMarathon Petroleum Corporation | Common Stock | 0.08% | $16,611 | 100 |
| 25 | WMBWilliams COS INC | Common Stock | 0.07% | $15,703 | 250 |
| 26 | PSXPhillips 66 | Common Stock | 0.07% | $15,509 | 130 |
| 27 | LNGCheniere Energy, Inc. | Common Stock | 0.07% | $14,611 | 60 |
| 28 | VLOVALERO ENERGY CORP | Common Stock | 0.06% | $13,442 | 100 |
| 29 | CMICummins INC | Common Stock | 0.06% | $13,100 | 40 |
| 30 | PAAPlains All American Pipeline, L.p. | MLP | 0.06% | $12,091 | 660 |
| 31 | CFCF Industries Holdings INC | Common Stock | 0.06% | $11,960 | 130 |
| 32 | EPDEnterprise Products Partners | MLP | 0.06% | $11,784 | 380 |
| 33 | UNPUnion Pacific Corporation | Common Stock | 0.05% | $11,504 | 50 |
| 34 | EMNEastman Chemical Co. | Common Stock | 0.05% | $9,706 | 130 |
| 35 | OKEOneok Inc. | Common Stock | 0.04% | $8,979 | 110 |
| 36 | KMIKINDER MORGAN INC | Common Stock | 0.04% | $8,820 | 300 |
| 37 | LYBLyondellbasell Industries NV | Common Stock | 0.04% | $8,679 | 150 |
| 38 | HUNHuntsman Corp. | Common Stock | 0.02% | $4,064 | 390 |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $56M | 38 | Apr 9, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $47M | 37 | Jan 21, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $41M | 37 | Oct 31, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $21M | 38 | Jul 29, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $39M | 39 | May 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $34M | 38 | Feb 20, 2025 | RESTATEMENT | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.