FLOSSBACH VON STORCH SE Diversified Active

Name: FLOSSBACH VON STORCH SE Q2 2026 13F Filing | 13F Explorer
Creator: FLOSSBACH VON STORCH SE
Published: 2026-08-10

Location: Cologne, Germany

CIK: 0001575677 · Show all filings

Period: Q2 2026 (← Previous)

Filing Date: Aug 10, 2026

Total Value: $22.12B (100.0% shares, 0.0% debt)

Holdings (106)

New Positions (4)

ZTS ZOETIS 1.4%

Value $303M Shares 4,210,978 Share Price $71.86 Est. Cost/Share $71.86 Unrealized @ Report Date —

— 3,125 JAZZ INVESTMENTS 15.09.2030 0.0%

Value $1.201M Shares 700,000 Share Price $1.72 Est. Cost/Share $1.72 Unrealized @ Report Date —

EL ESTEE LAUDER 0.0%

Value $501K Shares 6,349 Share Price $78.95 Est. Cost/Share $78.95 Unrealized @ Report Date —

— 0,500 ALIBABA 01.06.2031 0.0%

Value $236K Shares 200,000 Share Price $1.18 Est. Cost/Share $1.18 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
ZTS	ZOETIS	4,210,978	$303M	1.4%	$71.86	$71.86	—	COM	98978V103
—	3,125 JAZZ INVESTMENTS 15.09.2030	700,000	$1.201M	0.0%	$1.72	$1.72	—	NOTE	472145AH4
EL	ESTEE LAUDER	6,349	$501K	0.0%	$78.95	$78.95	—	COM	518439104
—	0,500 ALIBABA 01.06.2031	200,000	$236K	0.0%	$1.18	$1.18	—	NOTE	01609WBG6

Increased Positions (36)

NVDA NVIDIA 1.8%

Value $394M (+595.8%) Shares 1,966,637 (+506.4%) Share Price $200.09 Est. Cost/Share $187.54 Unrealized @ Report Date —

APH AMPHENOL 4.5%

Value $997M (+41.8%) Shares 5,656,967 (+1.6%) Share Price $176.32 Est. Cost/Share $47.88 Unrealized @ Report Date —

SYK STRYKER 2.1%

Value $465M (+162.0%) Shares 1,475,371 (+173.5%) Share Price $314.84 Est. Cost/Share $307.45 Unrealized @ Report Date —

AAPL APPLE 4.2%

Value $930M (+35.1%) Shares 3,214,624 (+18.5%) Share Price $289.36 Est. Cost/Share $167.80 Unrealized @ Report Date —

ACN ACCENTURE 1.4%

Value $310M (-33.9%) Shares 2,490,138 (+5.3%) Share Price $124.44 Est. Cost/Share $290.90 Unrealized @ Report Date —

MICC MAGNUM ICE CREAM 1.0%

Value $219M (+152.7%) Shares 12,556,043 (+113.2%) Share Price $17.40 Est. Cost/Share $16.63 Unrealized @ Report Date —

ICE INTERCONTINENTAL EXCHANGE 2.9%

Value $650M (-16.3%) Shares 5,279,021 (+6.9%) Share Price $123.11 Est. Cost/Share $111.67 Unrealized @ Report Date —

TSM TAIWAN SEMICONDUCTOR ADR 0.8%

Value $184M (+139.0%) Shares 386,030 (+69.1%) Share Price $477.57 Est. Cost/Share $321.79 Unrealized @ Report Date —

ABT ABBOTT LABORATORIES 4.1%

Value $903M (+11.9%) Shares 9,950,828 (+26.6%) Share Price $90.74 Est. Cost/Share $89.76 Unrealized @ Report Date —

FTV FORTIVE 3.3%

Value $740M (+12.4%) Shares 12,107,839 (+1.7%) Share Price $61.09 Est. Cost/Share $50.54 Unrealized @ Report Date —

AVGO BROADCOM 0.7%

Value $145M (+73.0%) Shares 384,529 (+41.7%) Share Price $377.75 Est. Cost/Share $279.47 Unrealized @ Report Date —

HD HOME DEPOT 0.3%

Value $67.68M (+352.9%) Shares 191,900 (+322.4%) Share Price $352.68 Est. Cost/Share $334.88 Unrealized @ Report Date —

SPGI S&P GLOBAL 2.9%

Value $643M (+8.8%) Shares 1,577,668 (+13.7%) Share Price $407.26 Est. Cost/Share $426.15 Unrealized @ Report Date —

IBM INTL BUSINESS MACHINES 0.3%

Value $58.63M (+510.2%) Shares 208,507 (+425.9%) Share Price $281.21 Est. Cost/Share $281.39 Unrealized @ Report Date —

SPOT SPOTIFY TECHNOLOGY 0.1%

Value $33.02M (+3276.2%) Shares 71,921 (+3465.7%) Share Price $459.13 Est. Cost/Share $464.88 Unrealized @ Report Date —

LIN LINDE 2.0%

Value $439M (+7.6%) Shares 845,040 (+2.8%) Share Price $518.94 Est. Cost/Share $445.63 Unrealized @ Report Date —

TT TRANE TECHNOLOGIES 0.2%

Value $54.76M (+96.4%) Shares 111,490 (+66.6%) Share Price $491.16 Est. Cost/Share $449.23 Unrealized @ Report Date —

MCD MCDONALDS 0.8%

Value $168M (+8.5%) Shares 622,833 (+24.8%) Share Price $270.31 Est. Cost/Share $273.24 Unrealized @ Report Date —

NDAQ NASDAQ 0.3%

Value $70.3M (+20.9%) Shares 891,940 (+30.2%) Share Price $78.82 Est. Cost/Share $59.90 Unrealized @ Report Date —

MA MASTERCARD 1.2%

Value $275M (+4.0%) Shares 535,581 (+1.1%) Share Price $513.60 Est. Cost/Share $352.54 Unrealized @ Report Date —

BKNG BOOKING HOLDINGS 0.2%

Value $46.17M (-15.8%) Shares 259,026 (+1889.1%) Share Price $178.24 Est. Cost/Share $367.04 Unrealized @ Report Date —

RACE FERRARI 0.1%

Value $22.99M (+51.7%) Shares 62,056 (+36.7%) Share Price $370.47 Est. Cost/Share $416.20 Unrealized @ Report Date —

UBER UBER TECHNOLOGIES 0.3%

Value $56.89M (+13.3%) Shares 788,377 (+13.0%) Share Price $72.16 Est. Cost/Share $71.67 Unrealized @ Report Date —

ABNB AIRBNB 0.0%

Value $6.68M (+253.3%) Shares 46,684 (+211.8%) Share Price $143.10 Est. Cost/Share $141.46 Unrealized @ Report Date —

AXP AMERICAN EXPRESS 0.1%

Value $30.83M (+17.6%) Shares 91,144 (+5.2%) Share Price $338.25 Est. Cost/Share $185.23 Unrealized @ Report Date —

ORLY O'REILLY AUTOMOTIVE 0.0%

Value $6.029M (+169.5%) Shares 65,467 (+170.1%) Share Price $92.09 Est. Cost/Share $91.43 Unrealized @ Report Date —

MDLZ MONDELEZ INTERNATIONAL 0.0%

Value $4.36M (+465.1%) Shares 75,386 (+463.2%) Share Price $57.84 Est. Cost/Share $58.38 Unrealized @ Report Date —

VZ VERIZON COMMUNICATIONS 0.0%

Value $8.364M (+73.1%) Shares 197,549 (+105.3%) Share Price $42.34 Est. Cost/Share $39.19 Unrealized @ Report Date —

CPRT COPART 0.3%

Value $70.51M (-4.4%) Shares 2,501,307 (+12.6%) Share Price $28.19 Est. Cost/Share $44.93 Unrealized @ Report Date —

ADP AUTOMATIC DATA PROCESSING 0.1%

Value $15.14M (+20.4%) Shares 67,603 (+9.3%) Share Price $223.95 Est. Cost/Share $236.00 Unrealized @ Report Date —

VRSK VERISK ANALYTICS 0.3%

Value $58.07M (-3.9%) Shares 323,452 (+1.6%) Share Price $179.53 Est. Cost/Share $213.02 Unrealized @ Report Date —

ROP ROPER TECHNOLOGIES 2.0%

Value $448M (+0.3%) Shares 1,324,865 (+4.8%) Share Price $338.39 Est. Cost/Share $491.75 Unrealized @ Report Date —

TJX TJX COMPANIES 0.1%

Value $25.56M (-2.1%) Shares 168,727 (+3.2%) Share Price $151.50 Est. Cost/Share $90.25 Unrealized @ Report Date —

DG DOLLAR GENERAL 0.4%

Value $81.18M (+0.5%) Shares 705,223 (+3.7%) Share Price $115.11 Est. Cost/Share $170.88 Unrealized @ Report Date —

— 0,875 UBER TECHNOLOGIES 01.12.2028 0.0%

Value $1.08M (+27.4%) Shares 900,000 (+28.6%) Share Price $1.20 Est. Cost/Share $1.23 Unrealized @ Report Date —

GOOG ALPHABET - CLASS C 0.0%

Value $826K (+28.6%) Shares 2,338 (+4.4%) Share Price $353.33 Est. Cost/Share $128.47 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
NVDA	NVIDIA	1,966,637 (+506.4%)	$394M (+595.8%)	1.8%	$200.09	$187.54	—	COM	67066G104
APH	AMPHENOL	5,656,967 (+1.6%)	$997M (+41.8%)	4.5%	$176.32	$47.88	—	COM	032095101
SYK	STRYKER	1,475,371 (+173.5%)	$465M (+162.0%)	2.1%	$314.84	$307.45	—	COM	863667101
AAPL	APPLE	3,214,624 (+18.5%)	$930M (+35.1%)	4.2%	$289.36	$167.80	—	COM	037833100
ACN	ACCENTURE	2,490,138 (+5.3%)	$310M (-33.9%)	1.4%	$124.44	$290.90	—	COM	G1151C101
MICC	MAGNUM ICE CREAM	12,556,043 (+113.2%)	$219M (+152.7%)	1.0%	$17.40	$16.63	—	COM	N5505D105
ICE	INTERCONTINENTAL EXCHANGE	5,279,021 (+6.9%)	$650M (-16.3%)	2.9%	$123.11	$111.67	—	COM	45866F104
TSM	TAIWAN SEMICONDUCTOR ADR	386,030 (+69.1%)	$184M (+139.0%)	0.8%	$477.57	$321.79	—	COM	874039100
ABT	ABBOTT LABORATORIES	9,950,828 (+26.6%)	$903M (+11.9%)	4.1%	$90.74	$89.76	—	COM	002824100
FTV	FORTIVE	12,107,839 (+1.7%)	$740M (+12.4%)	3.3%	$61.09	$50.54	—	COM	34959J108
AVGO	BROADCOM	384,529 (+41.7%)	$145M (+73.0%)	0.7%	$377.75	$279.47	—	COM	11135F101
HD	HOME DEPOT	191,900 (+322.4%)	$67.68M (+352.9%)	0.3%	$352.68	$334.88	—	COM	437076102
SPGI	S&P GLOBAL	1,577,668 (+13.7%)	$643M (+8.8%)	2.9%	$407.26	$426.15	—	COM	78409V104
IBM	INTL BUSINESS MACHINES	208,507 (+425.9%)	$58.63M (+510.2%)	0.3%	$281.21	$281.39	—	COM	459200101
SPOT	SPOTIFY TECHNOLOGY	71,921 (+3465.7%)	$33.02M (+3276.2%)	0.1%	$459.13	$464.88	—	COM	L8681T102
LIN	LINDE	845,040 (+2.8%)	$439M (+7.6%)	2.0%	$518.94	$445.63	—	COM	G54950103
TT	TRANE TECHNOLOGIES	111,490 (+66.6%)	$54.76M (+96.4%)	0.2%	$491.16	$449.23	—	COM	G8994E103
MCD	MCDONALDS	622,833 (+24.8%)	$168M (+8.5%)	0.8%	$270.31	$273.24	—	COM	580135101
NDAQ	NASDAQ	891,940 (+30.2%)	$70.3M (+20.9%)	0.3%	$78.82	$59.90	—	COM	631103108
MA	MASTERCARD	535,581 (+1.1%)	$275M (+4.0%)	1.2%	$513.60	$352.54	—	COM	57636Q104
BKNG	BOOKING HOLDINGS	259,026 (+1889.1%)	$46.17M (-15.8%)	0.2%	$178.24	$367.04	—	COM	09857L108
RACE	FERRARI	62,056 (+36.7%)	$22.99M (+51.7%)	0.1%	$370.47	$416.20	—	COM	N3167Y103
UBER	UBER TECHNOLOGIES	788,377 (+13.0%)	$56.89M (+13.3%)	0.3%	$72.16	$71.67	—	COM	90353T100
ABNB	AIRBNB	46,684 (+211.8%)	$6.68M (+253.3%)	0.0%	$143.10	$141.46	—	COM	009066101
AXP	AMERICAN EXPRESS	91,144 (+5.2%)	$30.83M (+17.6%)	0.1%	$338.25	$185.23	—	COM	025816109
ORLY	O'REILLY AUTOMOTIVE	65,467 (+170.1%)	$6.029M (+169.5%)	0.0%	$92.09	$91.43	—	COM	67103H107
MDLZ	MONDELEZ INTERNATIONAL	75,386 (+463.2%)	$4.36M (+465.1%)	0.0%	$57.84	$58.38	—	COM	609207105
VZ	VERIZON COMMUNICATIONS	197,549 (+105.3%)	$8.364M (+73.1%)	0.0%	$42.34	$39.19	—	COM	92343V104
CPRT	COPART	2,501,307 (+12.6%)	$70.51M (-4.4%)	0.3%	$28.19	$44.93	—	COM	217204106
ADP	AUTOMATIC DATA PROCESSING	67,603 (+9.3%)	$15.14M (+20.4%)	0.1%	$223.95	$236.00	—	COM	053015103
VRSK	VERISK ANALYTICS	323,452 (+1.6%)	$58.07M (-3.9%)	0.3%	$179.53	$213.02	—	COM	92345Y106
ROP	ROPER TECHNOLOGIES	1,324,865 (+4.8%)	$448M (+0.3%)	2.0%	$338.39	$491.75	—	COM	776696106
TJX	TJX COMPANIES	168,727 (+3.2%)	$25.56M (-2.1%)	0.1%	$151.50	$90.25	—	COM	872540109
DG	DOLLAR GENERAL	705,223 (+3.7%)	$81.18M (+0.5%)	0.4%	$115.11	$170.88	—	COM	256677105
—	0,875 UBER TECHNOLOGIES 01.12.2028	900,000 (+28.6%)	$1.08M (+27.4%)	0.0%	$1.20	$1.23	—	NOTE	90353TAM2
GOOG	ALPHABET - CLASS C	2,338 (+4.4%)	$826K (+28.6%)	0.0%	$353.33	$128.47	—	COM	02079K107

Exited Positions (7)

CHD CHURCH & DWIGHT 0.1%

Value $13.63M Shares 146,108 Share Price $93.32 Est. Cost/Share $87.42 Unrealized @ Report Date —

SLB SLB LIMITED 0.0%

Value $3.183M Shares 61,932 Share Price $51.39 Est. Cost/Share $48.30 Unrealized @ Report Date —

— 1,125 AKAMAI TECHNOLOGIES 15.02.2029 0.0%

Value $1.487M Shares 1,300,000 Share Price $1.14 Est. Cost/Share $0.99 Unrealized @ Report Date —

BABA ALIBABA GROUP ADR 0.0%

Value $835K Shares 6,656 Share Price $125.46 Est. Cost/Share $122.33 Unrealized @ Report Date —

— 0,375 AKAMAI TECHNOLOGIES 01.09.2027 0.0%

Value $694K Shares 600,000 Share Price $1.16 Est. Cost/Share $1.03 Unrealized @ Report Date —

DE DEERE & CO. 0.0%

Value $552K Shares 980 Share Price $563.30 Est. Cost/Share $551.35 Unrealized @ Report Date —

FAST FASTENAL 0.0%

Value $534K Shares 11,501 Share Price $46.40 Est. Cost/Share $44.27 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CHD	CHURCH & DWIGHT	146,108	$13.63M	0.1%	$93.32	$87.42	—	—	171340102
SLB	SLB LIMITED	61,932	$3.183M	0.0%	$51.39	$48.30	—	—	806857108
—	1,125 AKAMAI TECHNOLOGIES 15.02.2029	1,300,000	$1.487M	0.0%	$1.14	$0.99	—	—	00971TAN1
BABA	ALIBABA GROUP ADR	6,656	$835K	0.0%	$125.46	$122.33	—	—	01609W102
—	0,375 AKAMAI TECHNOLOGIES 01.09.2027	600,000	$694K	0.0%	$1.16	$1.03	—	—	00971TAL5
DE	DEERE & CO.	980	$552K	0.0%	$563.30	$551.35	—	—	244199105
FAST	FASTENAL	11,501	$534K	0.0%	$46.40	$44.27	—	—	311900104

Decreased Positions (55)

PEP PEPSICO 1.6%

Value $346M (-52.9%) Shares 2,554,594 (-45.9%) Share Price $135.40 Est. Cost/Share $147.64 Unrealized @ Report Date —

NKE NIKE 2.2%

Value $489M (-24.1%) Shares 11,905,339 (-2.3%) Share Price $41.05 Est. Cost/Share $76.74 Unrealized @ Report Date —

GOOGL ALPHABET - CLASS A 7.1%

Value $1.575B (+9.6%) Shares 4,408,262 (-11.8%) Share Price $357.37 Est. Cost/Share $117.84 Unrealized @ Report Date —

JNJ JOHNSON & JOHNSON 0.7%

Value $145M (-46.0%) Shares 569,949 (-48.0%) Share Price $253.97 Est. Cost/Share $115.48 Unrealized @ Report Date —

BNTX BIONTECH ADR 0.9%

Value $207M (-36.7%) Shares 2,226,138 (-39.5%) Share Price $93.05 Est. Cost/Share $140.78 Unrealized @ Report Date —

CRM SALESFORCE 0.3%

Value $60.63M (-60.3%) Shares 387,019 (-52.7%) Share Price $156.66 Est. Cost/Share $232.46 Unrealized @ Report Date —

V VISA - CLASS A 2.4%

Value $520M (-14.9%) Shares 1,516,328 (-25.0%) Share Price $343.09 Est. Cost/Share $189.70 Unrealized @ Report Date —

AME AMETEK 3.0%

Value $662M (-10.6%) Shares 2,737,670 (-20.8%) Share Price $241.94 Est. Cost/Share $134.58 Unrealized @ Report Date —

LULU LULULEMON ATHLETICA 0.9%

Value $207M (-27.1%) Shares 1,816,360 (-2.2%) Share Price $114.18 Est. Cost/Share $297.65 Unrealized @ Report Date —

AMZN AMAZON.COM 5.9%

Value $1.311B (+5.6%) Shares 5,500,511 (-7.8%) Share Price $238.34 Est. Cost/Share $134.48 Unrealized @ Report Date —

RAL RALLIANT 1.0%

Value $222M (+44.3%) Shares 3,021,324 (-18.5%) Share Price $73.63 Est. Cost/Share $49.17 Unrealized @ Report Date —

INTU INTUIT 0.4%

Value $87.88M (-41.0%) Shares 336,713 (-2.3%) Share Price $261.00 Est. Cost/Share $495.01 Unrealized @ Report Date —

MSFT MICROSOFT 5.7%

Value $1.266B (-2.9%) Shares 3,394,977 (-3.7%) Share Price $373.02 Est. Cost/Share $205.50 Unrealized @ Report Date —

PG PROCTER & GAMBLE 1.3%

Value $297M (-9.5%) Shares 2,023,783 (-10.8%) Share Price $146.64 Est. Cost/Share $117.29 Unrealized @ Report Date —

ITW ILLINOIS TOOL WORKS 0.1%

Value $21.71M (-57.8%) Shares 80,271 (-59.4%) Share Price $270.47 Est. Cost/Share $203.91 Unrealized @ Report Date —

MDT MEDTRONIC 0.4%

Value $85.22M (-25.4%) Shares 1,089,386 (-17.3%) Share Price $78.23 Est. Cost/Share $79.74 Unrealized @ Report Date —

CL COLGATE-PALMOLIVE 0.1%

Value $24.71M (-51.3%) Shares 269,501 (-54.7%) Share Price $91.68 Est. Cost/Share $76.63 Unrealized @ Report Date —

MSCI MSCI 0.4%

Value $94.83M (-20.5%) Shares 169,324 (-23.5%) Share Price $560.04 Est. Cost/Share $492.02 Unrealized @ Report Date —

NFLX NETFLIX 0.2%

Value $35.52M (-39.5%) Shares 497,453 (-18.5%) Share Price $71.40 Est. Cost/Share $101.58 Unrealized @ Report Date —

TTE TOTALENERGIES 0.1%

Value $30.88M (-39.5%) Shares 397,364 (-27.3%) Share Price $77.70 Est. Cost/Share $63.23 Unrealized @ Report Date —

HDB HDFC BANK ADR 0.1%

Value $29.43M (-34.4%) Shares 1,139,310 (-36.8%) Share Price $25.83 Est. Cost/Share $47.89 Unrealized @ Report Date —

BLK BLACKROCK 0.2%

Value $41.44M (-26.8%) Shares 43,100 (-26.8%) Share Price $961.56 Est. Cost/Share $991.05 Unrealized @ Report Date —

COP CONOCOPHILLIPS 0.0%

Value $2.458M (-85.9%) Shares 23,640 (-82.1%) Share Price $103.96 Est. Cost/Share $105.59 Unrealized @ Report Date —

ADI ANALOG DEVICES 1.0%

Value $216M (+7.2%) Shares 543,130 (-14.1%) Share Price $397.17 Est. Cost/Share $231.12 Unrealized @ Report Date —

META META PLATFORMS 1.0%

Value $213M (-6.3%) Shares 377,436 (-4.9%) Share Price $563.29 Est. Cost/Share $426.26 Unrealized @ Report Date —

AMAT APPLIED MATERIALS 0.7%

Value $150M (+10.4%) Shares 206,808 (-47.8%) Share Price $723.00 Est. Cost/Share $180.09 Unrealized @ Report Date —

XOM EXXON MOBIL 0.1%

Value $32.32M (-29.3%) Shares 236,431 (-12.2%) Share Price $136.72 Est. Cost/Share $85.55 Unrealized @ Report Date —

MCO MOODY'S 0.0%

Value $10.98M (-53.5%) Shares 24,240 (-55.2%) Share Price $452.92 Est. Cost/Share $301.60 Unrealized @ Report Date —

DHR DANAHER 3.4%

Value $747M (-1.4%) Shares 3,923,035 (-1.8%) Share Price $190.48 Est. Cost/Share $201.96 Unrealized @ Report Date —

MKTX MARKETAXESS 0.0%

Value $8.512M (-52.3%) Shares 75,000 (-30.6%) Share Price $113.49 Est. Cost/Share $194.60 Unrealized @ Report Date —

BRK/B BERKSHIRE HATHAWAY B 5.7%

Value $1.255B (+0.7%) Shares 2,508,197 (-3.6%) Share Price $500.39 Est. Cost/Share $187.52 Unrealized @ Report Date —

WMT WALMART 0.1%

Value $20.04M (-30.4%) Shares 176,957 (-23.6%) Share Price $113.26 Est. Cost/Share $51.09 Unrealized @ Report Date —

MMM 3M 0.3%

Value $74.44M (-10.1%) Shares 459,784 (-19.3%) Share Price $161.91 Est. Cost/Share $112.63 Unrealized @ Report Date —

SBUX STARBUCKS 0.1%

Value $17.17M (-28.0%) Shares 168,059 (-36.9%) Share Price $102.19 Est. Cost/Share $86.07 Unrealized @ Report Date —

IEX IDEX 0.7%

Value $147M (+4.6%) Shares 646,867 (-12.6%) Share Price $226.95 Est. Cost/Share $181.44 Unrealized @ Report Date —

KO COCA-COLA 0.2%

Value $40.49M (-12.5%) Shares 498,232 (-18.1%) Share Price $81.27 Est. Cost/Share $49.57 Unrealized @ Report Date —

TMO THERMO FISHER SCIENTIFIC 4.3%

Value $956M (-0.5%) Shares 1,905,975 (-2.5%) Share Price $501.36 Est. Cost/Share $456.05 Unrealized @ Report Date —

DIS WALT DISNEY 0.0%

Value $9.782M (-26.7%) Shares 101,636 (-26.6%) Share Price $96.25 Est. Cost/Share $120.01 Unrealized @ Report Date —

SHW SHERWIN-WILLIAMS 0.6%

Value $137M (+2.6%) Shares 396,877 (-4.5%) Share Price $344.32 Est. Cost/Share $315.18 Unrealized @ Report Date —

NU NU HOLDINGS 0.0%

Value $5.344M (-32.4%) Shares 400,000 (-27.3%) Share Price $13.36 Est. Cost/Share $8.45 Unrealized @ Report Date —

BDX BECTON DICKINSON 0.1%

Value $17.69M (-10.5%) Shares 116,897 (-7.1%) Share Price $151.33 Est. Cost/Share $222.31 Unrealized @ Report Date —

IBN ICICI BANK ADR 0.0%

Value $3.338M (-32.2%) Shares 115,000 (-39.5%) Share Price $29.03 Est. Cost/Share $26.46 Unrealized @ Report Date —

YUMC YUM CHINA HOLDINGS 0.0%

Value $1.43M (-51.1%) Shares 35,000 (-41.7%) Share Price $40.87 Est. Cost/Share $49.04 Unrealized @ Report Date —

TCOM TRIP.COM GROUP ADR 0.0%

Value $1.195M (-46.7%) Shares 30,000 (-33.3%) Share Price $39.84 Est. Cost/Share $60.48 Unrealized @ Report Date —

IDXX IDEXX LABORATORIES 0.0%

Value $9.092M (-10.3%) Shares 17,270 (-4.2%) Share Price $526.44 Est. Cost/Share $438.65 Unrealized @ Report Date —

ROST ROSS STORES 0.1%

Value $11.79M (-7.4%) Shares 55,389 (-5.7%) Share Price $212.85 Est. Cost/Share $112.10 Unrealized @ Report Date —

CPNG COUPANG 0.0%

Value $2.084M (-31.0%) Shares 120,000 (-25.0%) Share Price $17.37 Est. Cost/Share $22.08 Unrealized @ Report Date —

— 0,250 JD.COM 01.06.2029 0.0%

Value $394K (-60.6%) Shares 400,000 (-60.0%) Share Price $0.99 Est. Cost/Share $1.00 Unrealized @ Report Date —

NTES NETEASE ADR 0.0%

Value $1.089M (-35.1%) Shares 8,500 (-43.3%) Share Price $128.14 Est. Cost/Share $100.87 Unrealized @ Report Date —

UNP UNION PACIFIC 0.0%

Value $5.21M (+9.1%) Shares 19,155 (-2.7%) Share Price $272.00 Est. Cost/Share $209.27 Unrealized @ Report Date —

MMYT MAKEMYTRIP 0.0%

Value $2.664M (+19.1%) Shares 50,000 (-16.7%) Share Price $53.29 Est. Cost/Share $76.83 Unrealized @ Report Date —

PDD PINDUODUO ADR 0.0%

Value $236K (-62.0%) Shares 3,095 (-49.1%) Share Price $76.28 Est. Cost/Share $125.73 Unrealized @ Report Date —

FMX FEMSA ADR 0.0%

Value $1.982M (-10.7%) Shares 15,500 (-22.5%) Share Price $127.90 Est. Cost/Share $105.08 Unrealized @ Report Date —

SE SEA ADR 0.0%

Value $1.725M (+4.2%) Shares 18,000 (-10.0%) Share Price $95.83 Est. Cost/Share $116.38 Unrealized @ Report Date —

ODFL OLD DOMINION FREIGHT LINE 0.0%

Value $684K (+4.1%) Shares 3,159 (-6.1%) Share Price $216.60 Est. Cost/Share $189.98 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
PEP	PEPSICO	2,554,594 (-45.9%)	$346M (-52.9%)	1.6%	$135.40	$147.64	—	COM	713448108
NKE	NIKE	11,905,339 (-2.3%)	$489M (-24.1%)	2.2%	$41.05	$76.74	—	COM	654106103
GOOGL	ALPHABET - CLASS A	4,408,262 (-11.8%)	$1.575B (+9.6%)	7.1%	$357.37	$117.84	—	COM	02079K305
JNJ	JOHNSON & JOHNSON	569,949 (-48.0%)	$145M (-46.0%)	0.7%	$253.97	$115.48	—	COM	478160104
BNTX	BIONTECH ADR	2,226,138 (-39.5%)	$207M (-36.7%)	0.9%	$93.05	$140.78	—	COM	09075V102
CRM	SALESFORCE	387,019 (-52.7%)	$60.63M (-60.3%)	0.3%	$156.66	$232.46	—	COM	79466L302
V	VISA - CLASS A	1,516,328 (-25.0%)	$520M (-14.9%)	2.4%	$343.09	$189.70	—	COM	92826C839
AME	AMETEK	2,737,670 (-20.8%)	$662M (-10.6%)	3.0%	$241.94	$134.58	—	COM	031100100
LULU	LULULEMON ATHLETICA	1,816,360 (-2.2%)	$207M (-27.1%)	0.9%	$114.18	$297.65	—	COM	550021109
AMZN	AMAZON.COM	5,500,511 (-7.8%)	$1.311B (+5.6%)	5.9%	$238.34	$134.48	—	COM	023135106
RAL	RALLIANT	3,021,324 (-18.5%)	$222M (+44.3%)	1.0%	$73.63	$49.17	—	COM	750940108
INTU	INTUIT	336,713 (-2.3%)	$87.88M (-41.0%)	0.4%	$261.00	$495.01	—	COM	461202103
MSFT	MICROSOFT	3,394,977 (-3.7%)	$1.266B (-2.9%)	5.7%	$373.02	$205.50	—	COM	594918104
PG	PROCTER & GAMBLE	2,023,783 (-10.8%)	$297M (-9.5%)	1.3%	$146.64	$117.29	—	COM	742718109
ITW	ILLINOIS TOOL WORKS	80,271 (-59.4%)	$21.71M (-57.8%)	0.1%	$270.47	$203.91	—	COM	452308109
MDT	MEDTRONIC	1,089,386 (-17.3%)	$85.22M (-25.4%)	0.4%	$78.23	$79.74	—	COM	G5960L103
CL	COLGATE-PALMOLIVE	269,501 (-54.7%)	$24.71M (-51.3%)	0.1%	$91.68	$76.63	—	COM	194162103
MSCI	MSCI	169,324 (-23.5%)	$94.83M (-20.5%)	0.4%	$560.04	$492.02	—	COM	55354G100
NFLX	NETFLIX	497,453 (-18.5%)	$35.52M (-39.5%)	0.2%	$71.40	$101.58	—	COM	64110L106
TTE	TOTALENERGIES	397,364 (-27.3%)	$30.88M (-39.5%)	0.1%	$77.70	$63.23	—	COM	F92124100
HDB	HDFC BANK ADR	1,139,310 (-36.8%)	$29.43M (-34.4%)	0.1%	$25.83	$47.89	—	COM	40415F101
BLK	BLACKROCK	43,100 (-26.8%)	$41.44M (-26.8%)	0.2%	$961.56	$991.05	—	COM	09290D101
COP	CONOCOPHILLIPS	23,640 (-82.1%)	$2.458M (-85.9%)	0.0%	$103.96	$105.59	—	COM	20825C104
ADI	ANALOG DEVICES	543,130 (-14.1%)	$216M (+7.2%)	1.0%	$397.17	$231.12	—	COM	032654105
META	META PLATFORMS	377,436 (-4.9%)	$213M (-6.3%)	1.0%	$563.29	$426.26	—	COM	30303M102
AMAT	APPLIED MATERIALS	206,808 (-47.8%)	$150M (+10.4%)	0.7%	$723.00	$180.09	—	COM	038222105
XOM	EXXON MOBIL	236,431 (-12.2%)	$32.32M (-29.3%)	0.1%	$136.72	$85.55	—	COM	30231G102
MCO	MOODY'S	24,240 (-55.2%)	$10.98M (-53.5%)	0.0%	$452.92	$301.60	—	COM	615369105
DHR	DANAHER	3,923,035 (-1.8%)	$747M (-1.4%)	3.4%	$190.48	$201.96	—	COM	235851102
MKTX	MARKETAXESS	75,000 (-30.6%)	$8.512M (-52.3%)	0.0%	$113.49	$194.60	—	COM	57060D108
BRK/B	BERKSHIRE HATHAWAY B	2,508,197 (-3.6%)	$1.255B (+0.7%)	5.7%	$500.39	$187.52	—	COM	084670702
WMT	WALMART	176,957 (-23.6%)	$20.04M (-30.4%)	0.1%	$113.26	$51.09	—	COM	931142103
MMM	3M	459,784 (-19.3%)	$74.44M (-10.1%)	0.3%	$161.91	$112.63	—	COM	88579Y101
SBUX	STARBUCKS	168,059 (-36.9%)	$17.17M (-28.0%)	0.1%	$102.19	$86.07	—	COM	855244109
IEX	IDEX	646,867 (-12.6%)	$147M (+4.6%)	0.7%	$226.95	$181.44	—	COM	45167R104
KO	COCA-COLA	498,232 (-18.1%)	$40.49M (-12.5%)	0.2%	$81.27	$49.57	—	COM	191216100
TMO	THERMO FISHER SCIENTIFIC	1,905,975 (-2.5%)	$956M (-0.5%)	4.3%	$501.36	$456.05	—	COM	883556102
DIS	WALT DISNEY	101,636 (-26.6%)	$9.782M (-26.7%)	0.0%	$96.25	$120.01	—	COM	254687106
SHW	SHERWIN-WILLIAMS	396,877 (-4.5%)	$137M (+2.6%)	0.6%	$344.32	$315.18	—	COM	824348106
NU	NU HOLDINGS	400,000 (-27.3%)	$5.344M (-32.4%)	0.0%	$13.36	$8.45	—	COM	G6683N103
BDX	BECTON DICKINSON	116,897 (-7.1%)	$17.69M (-10.5%)	0.1%	$151.33	$222.31	—	COM	075887109
IBN	ICICI BANK ADR	115,000 (-39.5%)	$3.338M (-32.2%)	0.0%	$29.03	$26.46	—	COM	45104G104
YUMC	YUM CHINA HOLDINGS	35,000 (-41.7%)	$1.43M (-51.1%)	0.0%	$40.87	$49.04	—	COM	98850P109
TCOM	TRIP.COM GROUP ADR	30,000 (-33.3%)	$1.195M (-46.7%)	0.0%	$39.84	$60.48	—	COM	89677Q107
IDXX	IDEXX LABORATORIES	17,270 (-4.2%)	$9.092M (-10.3%)	0.0%	$526.44	$438.65	—	COM	45168D104
ROST	ROSS STORES	55,389 (-5.7%)	$11.79M (-7.4%)	0.1%	$212.85	$112.10	—	COM	778296103
CPNG	COUPANG	120,000 (-25.0%)	$2.084M (-31.0%)	0.0%	$17.37	$22.08	—	COM	22266T109
—	0,250 JD.COM 01.06.2029	400,000 (-60.0%)	$394K (-60.6%)	0.0%	$0.99	$1.00	—	NOTE	47215PAJ5
NTES	NETEASE ADR	8,500 (-43.3%)	$1.089M (-35.1%)	0.0%	$128.14	$100.87	—	COM	64110W102
UNP	UNION PACIFIC	19,155 (-2.7%)	$5.21M (+9.1%)	0.0%	$272.00	$209.27	—	COM	907818108
MMYT	MAKEMYTRIP	50,000 (-16.7%)	$2.664M (+19.1%)	0.0%	$53.29	$76.83	—	COM	V5633W109
PDD	PINDUODUO ADR	3,095 (-49.1%)	$236K (-62.0%)	0.0%	$76.28	$125.73	—	COM	722304102
FMX	FEMSA ADR	15,500 (-22.5%)	$1.982M (-10.7%)	0.0%	$127.90	$105.08	—	COM	344419106
SE	SEA ADR	18,000 (-10.0%)	$1.725M (+4.2%)	0.0%	$95.83	$116.38	—	COM	81141R100
ODFL	OLD DOMINION FREIGHT LINE	3,159 (-6.1%)	$684K (+4.1%)	0.0%	$216.60	$189.98	—	COM	679580100

Unchanged Positions (11)

SCHW CHARLES SCHWAB 4.5%

Value $988M Shares 10,706,944 Share Price $92.27 Est. Cost/Share $67.54 Unrealized @ Report Date —

MELI MERCADOLIBRE 1.4%

Value $319M Shares 187,847 Share Price $1697.39 Est. Cost/Share $2318.50 Unrealized @ Report Date —

FTNT FORTINET 0.0%

Value $2.149M Shares 13,989 Share Price $153.62 Est. Cost/Share $87.12 Unrealized @ Report Date —

— INTUIT CALL 0.0%

Value $313K Shares 12 Share Price $26100.00 Est. Cost/Share — Unrealized @ Report Date —

CDNS CADENCE DESIGN SYSTEMS 0.0%

Value $586K Shares 1,561 Share Price $375.32 Est. Cost/Share $295.30 Unrealized @ Report Date —

BRK/A BERKSHIRE HATHAWAY A 0.0%

Value $2.995M Shares 4 Share Price $748850.00 Est. Cost/Share $454514.50 Unrealized @ Report Date —

BX BLACKSTONE 0.0%

Value $5.295M Shares 45,000 Share Price $117.67 Est. Cost/Share $133.67 Unrealized @ Report Date —

CHKP CHECK POINT SOFTWARE 0.0%

Value $757K Shares 5,756 Share Price $131.43 Est. Cost/Share $197.89 Unrealized @ Report Date —

— 0,250 ETSY 15.06.2028 0.0%

Value $1.006M Shares 1,100,000 Share Price $0.91 Est. Cost/Share $0.73 Unrealized @ Report Date —

— 0,000 SNAP 01.05.2027 0.0%

Value $671K Shares 700,000 Share Price $0.96 Est. Cost/Share $0.70 Unrealized @ Report Date —

— 0,125 SNAP 01.03.2028 0.0%

Value $278K Shares 300,000 Share Price $0.93 Est. Cost/Share $0.71 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SCHW	CHARLES SCHWAB	10,706,944	$988M	4.5%	$92.27	$67.54	—	COM	808513105
MELI	MERCADOLIBRE	187,847	$319M	1.4%	$1697.39	$2318.50	—	COM	58733R102
FTNT	FORTINET	13,989	$2.149M	0.0%	$153.62	$87.12	—	COM	34959E109
—	INTUIT CALL	12	$313K	0.0%	$26100.00	—	—	CALL	461202903
CDNS	CADENCE DESIGN SYSTEMS	1,561	$586K	0.0%	$375.32	$295.30	—	COM	127387108
BRK/A	BERKSHIRE HATHAWAY A	4	$2.995M	0.0%	$748850.00	$454514.50	—	COM	084670108
BX	BLACKSTONE	45,000	$5.295M	0.0%	$117.67	$133.67	—	COM	09260D107
CHKP	CHECK POINT SOFTWARE	5,756	$757K	0.0%	$131.43	$197.89	—	COM	M22465104
—	0,250 ETSY 15.06.2028	1,100,000	$1.006M	0.0%	$0.91	$0.73	—	NOTE	29786AAN6
—	0,000 SNAP 01.05.2027	700,000	$671K	0.0%	$0.96	$0.70	—	NOTE	83304AAF3
—	0,125 SNAP 01.03.2028	300,000	$278K	0.0%	$0.93	$0.71	—	NOTE	83304AAH9