Quaero Capital S.A.

GENEVE, V8 · CIK 1843510 · 13F filing filed 2025-08-06

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityQuaero Capital S.A. (CH)

Kindprivate equity
Others nearbyGeneva, Paris
FamilyQuaero Capital S.A. · 3 related pages

$79.8m reported value +13.7% vs Q1 2025

65positions

30.9%in top 10

20 new 9 added 17 reduced 10 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	14,876	$3.4m4.22%	4.22%	Reduced -2.0k	-1,960 -11.6%
2	GE VERNOVA INC COM GEV	GEV	5,666	$3.0m3.76%	3.76%	Added +450	+450 8.6%
3	ITRON INC NOTE 3/1 · principal ITRI 0 03.15.26 · principal	ITRI 0 03.15.26	2,400,000	$2.7m3.38%	3.38%	Added +400.0k	+400,000 20.0%
4	EATON CORP PLC SHS ETN	ETN	7,394	$2.6m3.31%	3.31%	Reduced -1.2k	-1,205 -14.0%
5	BROOKFIELD RENEWABLE CORP CL A EX SUB VTG BEPC	BEPC	72,501	$2.4m2.98%	2.98%	Unchanged
6	LINDE PLC SHS LIN	LIN	4,677	$2.2m2.75%	2.75%	Unchanged
7	NEXTERA ENERGY INC COM NEE	NEE	31,498	$2.2m2.74%	2.74%	Reduced -13.3k	-13,282 -29.7%
8	VERTIV HOLDINGS CO COM CL A VRT	VRT	16,781	$2.2m2.70%	2.70%	Added +1.5k	+1,530 10.0%
9	AMERICAN WTR CAP CORP NOTE 3.625% 6/1 · principal AWK 3.625 06.15.26 · principal	AWK 3.625 06.15.26	2,000,000	$2.0m2.52%	2.52%	Added +500.0k	+500,000 33.3%
10	LIBERTY MEDIA CORP DEL NOTE 2.250% 8/1 · principal FWONK 2.25 08.15.27 · principal	FWONK 2.25 08.15.27	1,500,000	$2.0m2.52%	2.52%	Added +500.0k	+500,000 50.0%
11	SOUTHERN CO NOTE 3.875%12/1 · principal SO 3.875 12.15.25 · principal	SO 3.875 12.15.25	1,800,000	$2.0m2.49%	2.49%	Unchanged
12	UBER TECHNOLOGIES INC NOTE 0.875%12/0 · principal UBER 0.875 12.01.28 2028 · principal	UBER 0.875 12.01.28 2028	1,400,000	$2.0m2.49%	2.49%	Unchanged
13	TRIP COM GROUP LTD NOTE 0.750% 6/1 · principal TCOM 0.75 06.15.29 · principal	TCOM 0.75 06.15.29	1,800,000	$2.0m2.49%	2.49%	New
14	BENTLEY SYS INC NOTE 0.125% 1/1 · principal BSY 0.125 01.15.26 · principal	BSY 0.125 01.15.26	2,000,000	$2.0m2.48%	2.48%	Added +400.0k	+400,000 25.0%
15	ALIBABA GROUP HLDG LTD NOTE 0.500% 6/0 · principal BABA 0.5 06.01.31 · principal	BABA 0.5 06.01.31	1,500,000	$1.9m2.38%	2.38%	New
16	TYLER TEX INDPT SCH DIST NOTE 0.250% 3/1 · principal TYL 0.25 03.15.26 · principal	TYL 0.25 03.15.26	1,500,000	$1.8m2.31%	2.31%	Unchanged
17	AXON ENTERPRISE INC NOTE 0.500%12/1 · principal AXON 0.5 12.15.27 · principal	AXON 0.5 12.15.27	500,000	$1.8m2.27%	2.27%	Unchanged
18	WESTERN DIGITAL CORP NOTE 3.000%11/1 · principal WDC 3 11.15.28 · principal	WDC 3 11.15.28	1,000,000	$1.8m2.25%	2.25%	Unchanged
19	DROPBOX INC NOTE 3/0 · principal DBX 0 03.01.26 · principal	DBX 0 03.01.26	1,700,000	$1.7m2.12%	2.12%	Unchanged
20	HA SUSTAINABLE INFRA CAP INC COM HASI	HASI	62,908	$1.7m2.12%	2.12%	Reduced -4.2k	-4,200 -6.3%
21	AKAMAI TECHNOLOGIES INC NOTE 0.375% 9/0 · principal AKAM 0.375 09.01.27 · principal	AKAM 0.375 09.01.27	1,700,000	$1.6m2.07%	2.07%	Unchanged
22	WEC ENERGY GROUP INC NOTE 4.375% 6/0 · principal WEC 4.375 06.01.27 · principal	WEC 4.375 06.01.27	1,400,000	$1.6m1.98%	1.98%	New
23	TETRA TECH INC NEW DBCV 2.250% 8/1 · principal TTEK 2.25 08.15.28 · principal	TTEK 2.25 08.15.28	1,400,000	$1.6m1.97%	1.97%	Added +200.0k	+200,000 16.7%
24	SHOPIFY INC NOTE 0.125%11/0 · principal SHOPCN 0.125 11.01.25 · principal	SHOPCN 0.125 11.01.25	1,500,000	$1.5m1.91%	1.91%	Unchanged
25	FORD MTR CO DEL NOTE 3/1 · principal F 0 03.15.26 · principal	F 0 03.15.26	1,500,000	$1.5m1.85%	1.85%	Unchanged
26	PARSONS CORP DEL NOTE 2.625% 3/0 · principal PSN 2.625 03.01.29 · principal	PSN 2.625 03.01.29	1,400,000	$1.4m1.76%	1.76%	Unchanged
27	HUBBELL INC COM HUBB	HUBB	3,335	$1.4m1.71%	1.71%	Reduced -850	-850 -20.3%
28	FLUOR CORP NOTE 1.125% 8/1 · principal FLR 1.125 08.15.29 · principal	FLR 1.125 08.15.29	1,000,000	$1.3m1.65%	1.65%	Unchanged
29	COINBASE GLOBAL INC NOTE 0.250% 4/0 · principal COIN 0.25 04.01.30 · principal	COIN 0.25 04.01.30	1,000,000	$1.3m1.64%	1.64%	New
30	GRANITE CONSTR INC NOTE 3.250% 6/1 · principal GVA 3.25 06.15.30 · principal	GVA 3.25 06.15.30	1,000,000	$1.2m1.56%	1.56%	New
31	NEXTRACKER INC CLASS A COM NXT	NXT	22,566	$1.2m1.54%	1.54%	Reduced -12.7k	-12,696 -36.0%
32	ALARM COM HLDGS INC NOTE 2.250% 6/0 · principal ALRM 2.25 06.01.29 · principal	ALRM 2.25 06.01.29	1,200,000	$1.2m1.46%	1.46%	New
33	PROGRESS SOFTWARE CORP NOTE 3.500% 3/0 · principal PRGS 3.5 03.01.30 · principal	PRGS 3.5 03.01.30	1,000,000	$1.2m1.45%	1.45%	Added +400.0k	+400,000 66.7%
34	MIDDLEBY CORP NOTE 1.000% 9/0 · principal MIDD 1 09.01.25 · principal	MIDD 1 09.01.25	1,000,000	$1.1m1.42%	1.42%	Unchanged
35	RAPID7 INC NOTE 1.250% 3/1 · principal RPD 1.25 03.15.29 · principal	RPD 1.25 03.15.29	1,200,000	$1.1m1.33%	1.33%	Unchanged
36	HAEMONETICS CORP MASS NOTE 2.500% 6/0 · principal HAE 2.5 06.01.29 · principal	HAE 2.5 06.01.29	1,000,000	$994.5k1.25%	1.25%	New
37	MKS INC. NOTE 1.250% 6/0 · principal MKSI 1.25 06.01.30 · principal	MKSI 1.25 06.01.30	1,000,000	$986.6k1.24%	1.24%	New
38	MERITAGE HOMES CORP NOTE 1.750% 5/1 · principal MTH 1.75 05.15.28 · principal	MTH 1.75 05.15.28	1,000,000	$973.0k1.22%	1.22%	New
39	AIRBNB INC NOTE 3/1 · principal ABNB 0 03.15.26 · principal	ABNB 0 03.15.26	1,000,000	$963.9k1.21%	1.21%	Unchanged
40	GLOBAL PMTS INC NOTE 1.500% 3/0 · principal GPN 1.5 03.01.31 · principal	GPN 1.5 03.01.31	1,000,000	$954.9k1.20%	1.20%	Unchanged
41	POST HLDGS INC NOTE 2.500% 8/1 · principal POST 2.5 08.15.27 · principal	POST 2.5 08.15.27	800,000	$912.8k1.14%	1.14%	Unchanged
42	HALOZYME THERAPEUTICS INC NOTE 1.000% 8/1 · principal HALO 1 08.15.28 · principal	HALO 1 08.15.28	800,000	$910.6k1.14%	1.14%	Unchanged
43	ENTERGY CORP NEW COM ETR	ETR	7,899	$656.6k0.82%	0.82%	Reduced -7.5k	-7,545 -48.9%
44	WASTE CONNECTIONS INC COM WCN	WCN	3,146	$587.4k0.74%	0.74%	Reduced -5.0k	-5,008 -61.4%
45	CHENIERE ENERGY INC COM NEW LNG	LNG	2,392	$582.5k0.73%	0.73%	Reduced -2.9k	-2,882 -54.6%
46	QUANTA SVCS INC COM PWR	PWR	1,478	$558.8k0.70%	0.70%	Reduced -620	-620 -29.6%
47	TC ENERGY CORP COM TRP	TRP	11,365	$555.2k0.70%	0.70%	Reduced -17.6k	-17,600 -60.8%
48	KINDER MORGAN INC DEL COM KMI	KMI	17,846	$524.7k0.66%	0.66%	Reduced -18.3k	-18,337 -50.7%
49	CMS ENERGY CORP COM CMS	CMS	7,161	$496.1k0.62%	0.62%	New
50	ITRON INC COM ITRI	ITRI	3,730	$491.0k0.62%	0.62%	Added +1.4k	+1,430 62.2%
51	SEMPRA COM SRE	SRE	6,169	$467.4k0.59%	0.59%	Reduced -8.1k	-8,137 -56.9%
52	PUBLIC SVC ENTERPRISE GRP IN COM PEG	PEG	5,475	$460.9k0.58%	0.58%	New
53	TARGA RES CORP COM TRGP	TRGP	2,616	$455.4k0.57%	0.57%	Reduced -2.9k	-2,937 -52.9%
54	FERROVIAL SE ORD SHS FER	FER	8,143	$434.2k0.54%	0.54%	Reduced -9.4k	-9,364 -53.5%
55	VISTRA CORP COM VST	VST	2,186	$423.7k0.53%	0.53%	Reduced -314	-314 -12.6%
56	XCEL ENERGY INC COM XEL	XEL	5,876	$400.2k0.50%	0.50%	New
57	DTE ENERGY CO COM DTE	DTE	2,960	$392.1k0.49%	0.49%	New
58	GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B ASR	ASR	1,040	$331.6k0.42%	0.42%	New
59	GRUPO AEROPORTUARIO DEL CENT SPON ADR OMAB	OMAB	3,123	$329.5k0.41%	0.41%	New
60	NISOURCE INC COM NI	NI	7,267	$293.2k0.37%	0.37%	New
61	CLEAN HARBORS INC COM CLH	CLH	1,113	$257.3k0.32%	0.32%	Reduced -2.9k	-2,887 -72.2%
62	SBA COMMUNICATIONS CORP NEW CL A SBAC	SBAC	980	$230.1k0.29%	0.29%	New
63	AMERICAN TOWER CORP NEW COM AMT	AMT	1,034	$228.5k0.29%	0.29%	New
64	NORFOLK SOUTHN CORP COM NSC	NSC	888	$227.3k0.28%	0.28%	New
65	CANADIAN PACIFIC KANSAS CITY COM CP	CP	2,801	$222.1k0.28%	0.28%	New

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
KINETIK HOLDINGS INC KNTK	KNTK	23,835	$1.2m23.8k shares
EQUINIX INC EQIX	EQIX	1,430	$1.2m1.4k shares
GFL ENVIRONMENTAL INC GFL	GFL	20,000	$966.2k20.0k shares
VISHAY INTERTECHNOLOGY INC VSH 2.25 09.15.30	VSH 2.25 09.15.30	1,000,000	$887.5k1.0m shares
HUBSPOT INC HUBS 0.375 06.01.25	HUBS 0.375 06.01.25	400,000	$821.4k400.0k shares
REPUBLIC SVCS INC RSG	RSG	3,302	$799.6k3.3k shares
ZSCALER INC ZS 0.125 07.01.25	ZS 0.125 07.01.25	500,000	$659.4k500.0k shares
ACUITY INC AYI	AYI	1,889	$497.5k1.9k shares
COINBASE GLOBAL INC COIN 0.5 06.01.26	COIN 0.5 06.01.26	500,000	$488.7k500.0k shares
WHEATON PRECIOUS METALS CORP WPM	WPM	2,830	$219.7k2.8k shares