# ABC ARBITRAGE SA

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2049221. Source: https://holderbook.com/funds/2049221-abc-arbitrage-sa/

- Reported value: $926.1M
- Positions: 381
- Weight of the ten largest: 37.5%
- Filed: 2026-07-20

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| DIAGEO PLC | [DEO](https://holderbook.com/stocks/DEO/) | $47.0M | 584,311 | 5.1% | 7 |
| BRITISH AMERN TOB PLC | [BTI](https://holderbook.com/stocks/BTI/) | $45.2M | 731,156 | 4.9% | 7 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $38.6M | 406,269 | 4.2% | 7 |
| LLOYDS BANKING GROUP PLC | [LYG](https://holderbook.com/stocks/LYG/) | $33.2M | 5,689,418 | 3.6% | 2 |
| NATWEST GROUP PLC | [NWG](https://holderbook.com/stocks/NWG/) | $32.8M | 1,859,270 | 3.5% | 7 |
| VODAFONE GROUP PLC | [VOD](https://holderbook.com/stocks/VOD/) | $32.1M | 2,426,727 | 3.5% | 7 |
| ING GROEP N.V. | [ING](https://holderbook.com/stocks/ING/) | $31.6M | 1,006,300 | 3.4% | 1 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $29.3M | 378,254 | 3.2% | 6 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $29.2M | 790,506 | 3.2% | 7 |
| GSK PLC | [GSK](https://holderbook.com/stocks/GSK/) | $28.2M | 538,873 | 3.1% | 4 |
| HSBC HLDGS PLC | [HSBC](https://holderbook.com/stocks/HSBC/) | $27.0M | 283,637 | 2.9% | 7 |
| INTERCONTINENTAL HOTELS GROU | [IHG](https://holderbook.com/stocks/IHG/) | $26.6M | 153,668 | 2.9% | 5 |
| NATIONAL GRID PLC | [NGG](https://holderbook.com/stocks/NGG/) | $25.0M | 301,977 | 2.7% | 7 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $17.7M | 369,120 | 1.9% | 1 |
| AMERICA MOVIL SAB DE CV | [AMX](https://holderbook.com/stocks/AMX/) | $13.3M | 512,433 | 1.4% | 3 |
| AEGON LTD | [AEG](https://holderbook.com/stocks/AEG/) | $13.2M | 1,563,550 | 1.4% | 4 |
| RYANAIR HOLDINGS PLC | [RYAAY](https://holderbook.com/stocks/RYAAY/) | $13.0M | 201,142 | 1.4% | 7 |
| SMITH & NEPHEW PLC | [SNN](https://holderbook.com/stocks/SNN/) | $10.8M | 375,682 | 1.2% | 7 |
| HALEON PLC | [HLN](https://holderbook.com/stocks/HLN/) | $10.3M | 1,109,295 | 1.1% | 6 |
| PRUDENTIAL PLC | [PUK](https://holderbook.com/stocks/PUK/) | $7.7M | 288,740 | 0.8% | 1 |
| HARMONY GOLD MNG LTD | [HMY](https://holderbook.com/stocks/HMY/) | $7.7M | 503,723 | 0.8% | 4 |
| UNILEVER PLC | [UL](https://holderbook.com/stocks/UL/) | $7.3M | 120,651 | 0.8% | 1 |
| SYNAPTICS INC | [SYNA](https://holderbook.com/stocks/SYNA/) | $7.2M | 57,642 | 0.8% | 1 |
| LEGGETT & PLATT INC | [LEG](https://holderbook.com/stocks/LEG/) | $7.2M | 611,215 | 0.8% | 1 |
| STELLAR BANCORP INC | [STEL](https://holderbook.com/stocks/STEL/) | $7.1M | 180,859 | 0.8% | 2 |
| BIO-TECHNE CORP | [TECH](https://holderbook.com/stocks/TECH/) | $7.1M | 100,348 | 0.8% | 1 |
| DIGITALBRIDGE GROUP INC | [DBRG](https://holderbook.com/stocks/DBRG/) | $7.1M | 448,178 | 0.8% | 3 |
| NUVALENT INC | [NUVL](https://holderbook.com/stocks/NUVL/) | $7.1M | 57,147 | 0.8% | 1 |
| LIVERAMP HLDGS INC | [RAMP](https://holderbook.com/stocks/RAMP/) | $7.0M | 186,703 | 0.8% | 1 |
| APOGEE THERAPEUTICS INC | [APGE](https://holderbook.com/stocks/APGE/) | $7.0M | 52,918 | 0.8% | 1 |
| PENUMBRA INC | [PEN](https://holderbook.com/stocks/PEN/) | $7.0M | 22,223 | 0.8% | 2 |
| ARCOSA INC | [ACA](https://holderbook.com/stocks/ACA/) | $7.0M | 48,218 | 0.8% | 1 |
| NATIONAL STORAGE AFFILIATES | [NSA](https://holderbook.com/stocks/NSA/) | $7.0M | 156,367 | 0.8% | 2 |
| ESSENTIAL UTILS INC | [WTRG](https://holderbook.com/stocks/WTRG/) | $6.9M | 180,276 | 0.7% | 3 |
| KONINKLIJKE PHILIPS N V | [PHG](https://holderbook.com/stocks/PHG/) | $6.5M | 237,271 | 0.7% | 1 |
| EQUINOR ASA | [EQNR](https://holderbook.com/stocks/EQNR/) | $6.4M | 204,684 | 0.7% | 1 |
| CEMEX SA EURO MTN BE 144A | [CX](https://holderbook.com/stocks/CX/) | $5.9M | 487,605 | 0.6% | 2 |
| ORLA MNG LTD NEW | [ORLA](https://holderbook.com/stocks/ORLA/) | $5.7M | 577,150 | 0.6% | 1 |
| RENTOKIL INITIAL PLC | [RTO](https://holderbook.com/stocks/RTO/) | $5.6M | 195,008 | 0.6% | 6 |
| NATHANS FAMOUS INC | [NATH](https://holderbook.com/stocks/NATH/) | $5.5M | 53,957 | 0.6% | 2 |
| FRESENIUS MEDICAL CARE AG | [FMS](https://holderbook.com/stocks/FMS/) | $5.4M | 239,751 | 0.6% | 1 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $5.3M | 23,963 | 0.6% | 1 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $5.3M | 31,663 | 0.6% | 4 |
| LENNAR CORP | [LEN](https://holderbook.com/stocks/LEN/) | $5.3M | 58,098 | 0.6% | 7 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $5.2M | 31,384 | 0.6% | 4 |
| CROWN CASTLE INC | [CCI](https://holderbook.com/stocks/CCI/) | $5.2M | 68,542 | 0.6% | 1 |
| NOKIA CORP | [NOK](https://holderbook.com/stocks/NOK/) | $5.2M | 388,602 | 0.6% | 1 |
| MARTIN MARIETTA MATLS INC | [MLM](https://holderbook.com/stocks/MLM/) | $5.1M | 8,888 | 0.6% | 2 |
| HUNTINGTON BANCSHARES INC | [HBAN](https://holderbook.com/stocks/HBAN/) | $5.1M | 288,202 | 0.6% | 2 |
| ARES MANAGEMENT CORPORATION | [ARES](https://holderbook.com/stocks/ARES/) | $5.1M | 45,693 | 0.5% | 1 |
| KEYCORP | [KEY](https://holderbook.com/stocks/KEY/) | $5.1M | 220,410 | 0.5% | 2 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $5.1M | 48,778 | 0.5% | 1 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $5.0M | 19,751 | 0.5% | 1 |
| HARTFORD INSURANCE GROUP INC | [HIG](https://holderbook.com/stocks/HIG/) | $5.0M | 37,754 | 0.5% | 1 |
| TRUIST FINL CORP | [TFC](https://holderbook.com/stocks/TFC/) | $5.0M | 99,790 | 0.5% | 1 |
| ANHEUSER BUSCH INBEV SA/NV | [BUD](https://holderbook.com/stocks/BUD/) | $5.0M | 60,133 | 0.5% | 6 |
| WPP PLC NEW | [WPP](https://holderbook.com/stocks/WPP/) | $4.5M | 291,076 | 0.5% | 1 |
| PEARSON PLC | [PSO](https://holderbook.com/stocks/PSO/) | $4.5M | 281,169 | 0.5% | 4 |
| CARNIVAL CORP LTD | [CCL](https://holderbook.com/stocks/CCL/) | $4.4M | 153,669 | 0.5% | 1 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $4.1M | 9,362 | 0.4% | 2 |
| ASE TECHNOLOGY HLDG CO LTD | [ASX](https://holderbook.com/stocks/ASX/) | $4.0M | 89,531 | 0.4% | 2 |
| TXNM ENERGY INC | [TXNM](https://holderbook.com/stocks/TXNM/) | $4.0M | 70,642 | 0.4% | 4 |
| CATALYST PHARMACEUTICALS INC | [CPRX](https://holderbook.com/stocks/CPRX/) | $3.7M | 117,681 | 0.4% | 1 |
| SONY GROUP CORP | [SONY](https://holderbook.com/stocks/SONY/) | $3.6M | 177,908 | 0.4% | 1 |
| NVR INC | [NVR](https://holderbook.com/stocks/NVR/) | $3.5M | 519 | 0.4% | 1 |
| AES CORP | [AES](https://holderbook.com/stocks/AES/) | $3.5M | 241,199 | 0.4% | 1 |
| PAYONEER GLOBAL INC | [PAYO](https://holderbook.com/stocks/PAYO/) | $3.5M | 495,773 | 0.4% | 1 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $3.5M | 39,913 | 0.4% | 3 |
| HEICO CORP NEW | [HEIA](https://holderbook.com/stocks/HEIA/) | $3.4M | 13,364 | 0.4% | 1 |
| CHART INDS INC | [GTLS](https://holderbook.com/stocks/GTLS/) | $3.4M | 16,251 | 0.4% | 4 |
| INTERNATIONAL MONEY EXPRESS | [IMXI](https://holderbook.com/stocks/IMXI/) | $3.2M | 224,282 | 0.3% | 4 |
| MODIV INDUSTRIAL INC | [MDV](https://holderbook.com/stocks/MDV/) | $3.2M | 183,822 | 0.3% | 1 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.1M | 8,845 | 0.3% | 1 |
| PPL CORP | [PPL](https://holderbook.com/stocks/PPL/) | $3.0M | 83,799 | 0.3% | 1 |
| TALKSPACE INC | [TALK](https://holderbook.com/stocks/TALK/) | $3.0M | 573,850 | 0.3% | 2 |
| ZILLOW GROUP INC | [ZG](https://holderbook.com/stocks/ZG/) | $3.0M | 95,075 | 0.3% | 1 |
| SASOL LTD | [SSL](https://holderbook.com/stocks/SSL/) | $3.0M | 301,838 | 0.3% | 2 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $2.9M | 31,437 | 0.3% | 1 |
| RELX PLC | [RELX](https://holderbook.com/stocks/RELX/) | $2.9M | 90,026 | 0.3% | 1 |
| ENI S P A | [E](https://holderbook.com/stocks/E/) | $2.7M | 58,156 | 0.3% | 2 |
| VESTA REAL ESTATE CORP | [VTMX](https://holderbook.com/stocks/VTMX/) | $2.7M | 77,276 | 0.3% | 6 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $2.6M | 5,813 | 0.3% | 2 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $2.5M | 29,743 | 0.3% | 1 |
| PETROLEO BRASILEIRO S A | [PBR](https://holderbook.com/stocks/PBR/) | $2.5M | 151,762 | 0.3% | 1 |
| DRDGOLD LIMITED | [DRD](https://holderbook.com/stocks/DRD/) | $2.3M | 107,960 | 0.2% | 7 |
| AVANOS MED INC | [AVNS](https://holderbook.com/stocks/AVNS/) | $2.1M | 85,529 | 0.2% | 1 |
| METLIFE INC | [MET](https://holderbook.com/stocks/MET/) | $2.1M | 24,825 | 0.2% | 3 |
| GLOBAL BUSINESS TRAVEL GROUP | [GBTG](https://holderbook.com/stocks/GBTG/) | $1.8M | 194,030 | 0.2% | 1 |
| SILA REALTY TRUST INC | [SILA](https://holderbook.com/stocks/SILA/) | $1.8M | 59,967 | 0.2% | 1 |
| WHITESTONE REIT | [WSR](https://holderbook.com/stocks/WSR/) | $1.8M | 95,817 | 0.2% | 1 |
| CAESARS ENTERTAINMENT INC NE | [CZR](https://holderbook.com/stocks/CZR/) | $1.8M | 59,971 | 0.2% | 1 |
| DOMINION ENERGY INC | [D](https://holderbook.com/stocks/D/) | $1.7M | 25,522 | 0.2% | 1 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $1.7M | 4,563 | 0.2% | 1 |
| AMEREN CORP | [AEE](https://holderbook.com/stocks/AEE/) | $1.7M | 14,859 | 0.2% | 2 |
| VEECO INSTRS INC DEL | [VECO](https://holderbook.com/stocks/VECO/) | $1.6M | 21,202 | 0.2% | 3 |
| GLOBALSTAR INC | [GSAT](https://holderbook.com/stocks/GSAT/) | $1.5M | 18,008 | 0.2% | 1 |
| MID-AMER APT CMNTYS INC | [MAA](https://holderbook.com/stocks/MAA/) | $1.5M | 10,446 | 0.2% | 4 |
| TAYLOR MORRISON HOME CORP | [TMHC](https://holderbook.com/stocks/TMHC/) | $1.4M | 20,143 | 0.2% | 1 |
| SIMULATIONS PLUS INC | [SLP](https://holderbook.com/stocks/SLP/) | $1.4M | 78,869 | 0.2% | 1 |
| OPEN LENDING CORP | [LPRO](https://holderbook.com/stocks/LPRO/) | $1.4M | 450,304 | 0.2% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +3.3% | +14.8% | -11.6% | 89% |
| Q1 2026 | -0.0% | -4.6% | +4.6% | 92% |
| Q4 2025 | +6.6% | +2.4% | +4.2% | 92% |
| Q3 2025 | +5.7% | +7.8% | -2.1% | 92% |
| Q2 2025 | +6.7% | +10.5% | -3.7% | 94% |
| Q1 2025 | +7.3% | -4.6% | +11.8% | 93% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $926.1M | 381 |
| Q1 2026 | $752.9M | 364 |
| Q4 2025 | $1.1B | 313 |
| Q3 2025 | $1.0B | 200 |
| Q2 2025 | $875.5M | 198 |
| Q1 2025 | $538.1M | 191 |
| Q4 2024 | $697.3M | 192 |