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FLOSSBACH VON STORCH SE

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13F filer, CIK 1575677, COLOGNE, Germany

FLOSSBACH VON STORCH SE reported $25,381,661,018 across 119 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-03. Its ten largest share positions make up 48.17% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001575677-25-000014

Period
2025-09-30
Reported value
$25.4B
Holdings
119
Top 10 weight
48.17%
New
8
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MELIadded+171,449$401M
ROPadded+507,083$253M
LINadded+355,950$169M
TSMadded+441,573$123M
AAPLadded+317,446$80.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
JNJreduced-3,347,823-$621M
SHWreduced-478,906-$166M
APHreduced-1,131,034-$140M
PEPreduced-758,576-$107M
TMOreduced-210,923-$102M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001575677-25-000014, largest first. % of portfolio is the value over $25,378,356,308, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,355,785 shares; 2024Q4: 3,483,360 shares; 2025Q1: 3,406,727 shares; 2025Q2: 3,418,400 shares; 2025Q3: 3,409,081 shares 3,409,081$1.77B6.96%-9,319Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,812,957 shares; 2024Q4: 6,355,665 shares; 2025Q1: 5,651,061 shares; 2025Q2: 6,665,699 shares; 2025Q3: 6,812,930 shares 6,812,930$1.66B6.53%+147,231Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,074,304 shares; 2024Q4: 6,663,545 shares; 2025Q1: 6,002,413 shares; 2025Q2: 6,843,320 shares; 2025Q3: 6,803,957 shares 6,803,957$1.49B5.89%-39,363Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,489,749 shares; 2024Q4: 4,497,659 shares; 2025Q1: 3,595,463 shares; 2025Q2: 2,781,382 shares; 2025Q3: 2,787,941 shares 2,787,941$1.4B5.52%+6,559Timeline
TMOTHERMO FISHER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,328,145 shares; 2024Q4: 1,335,285 shares; 2025Q1: 1,412,839 shares; 2025Q2: 2,727,021 shares; 2025Q3: 2,516,098 shares 2,516,098$1.22B4.81%-210,923Timeline
APHAMPHENOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,347,630 shares; 2024Q4: 12,314,404 shares; 2025Q1: 11,397,719 shares; 2025Q2: 9,938,382 shares; 2025Q3: 8,807,348 shares 8,807,348$1.09B4.29%-1,131,034Timeline
SCHWCHARLES SCHWAB CORP (THE)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,550,761 shares; 2024Q4: 10,734,076 shares; 2025Q1: 10,810,644 shares; 2025Q2: 10,580,171 shares; 2025Q3: 10,631,352 shares 10,631,352$1.01B4%+51,181Timeline
ABTABBOTT LABORATORIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,758,473 shares; 2024Q4: 8,672,425 shares; 2025Q1: 6,951,496 shares; 2025Q2: 6,422,870 shares; 2025Q3: 6,609,983 shares 6,609,983$885M3.49%+187,113Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,826,955 shares; 2024Q4: 4,436,956 shares; 2025Q1: 4,060,047 shares; 2025Q2: 3,076,030 shares; 2025Q3: 3,393,476 shares 3,393,476$864M3.4%+317,446Timeline
DHRDANAHER CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,666,248 shares; 2024Q4: 3,710,738 shares; 2025Q1: 3,920,603 shares; 2025Q2: 4,228,515 shares; 2025Q3: 4,201,663 shares 4,201,663$833M3.28%-26,852Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,071,532 shares; 2024Q4: 5,112,536 shares; 2025Q1: 5,593,834 shares; 2025Q2: 6,637,469 shares; 2025Q3: 5,878,893 shares 5,878,893$826M3.25%-758,576Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,099,746 shares; 2024Q4: 5,074,730 shares; 2025Q1: 4,646,647 shares; 2025Q2: 4,563,275 shares; 2025Q3: 4,567,933 shares 4,567,933$770M3.03%+4,658Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,845,402 shares; 2024Q4: 2,831,255 shares; 2025Q1: 2,219,828 shares; 2025Q2: 2,151,030 shares; 2025Q3: 2,172,103 shares 2,172,103$742M2.92%+21,073Timeline
AMEAMETEK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,633,065 shares; 2024Q4: 3,724,352 shares; 2025Q1: 3,770,066 shares; 2025Q2: 3,785,676 shares; 2025Q3: 3,783,841 shares 3,783,841$711M2.8%-1,835Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,212,377 shares; 2024Q4: 8,298,072 shares; 2025Q1: 10,286,619 shares; 2025Q2: 11,265,390 shares; 2025Q3: 9,866,461 shares 9,866,461$688M2.71%-1,398,929Timeline
ACNACCENTURE PLC IRELANDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,519,198 shares; 2024Q4: 1,504,485 shares; 2025Q1: 1,627,589 shares; 2025Q2: 2,408,800 shares; 2025Q3: 2,521,263 shares 2,521,263$622M2.45%+112,463Timeline
FTVFORTIVE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,765,761 shares; 2024Q4: 11,903,240 shares; 2025Q1: 11,854,422 shares; 2025Q2: 12,043,449 shares; 2025Q3: 11,646,149 shares 11,646,149$571M2.25%-397,300Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,500,482 shares; 2024Q4: 6,529,296 shares; 2025Q1: 6,488,992 shares; 2025Q2: 6,342,997 shares; 2025Q3: 2,995,174 shares 2,995,174$555M2.19%-3,347,823Timeline
AMATAPPLIED MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 706,083 shares; 2024Q4: 1,600,078 shares; 2025Q1: 2,207,218 shares; 2025Q2: 2,461,720 shares; 2025Q3: 2,408,464 shares 2,408,464$493M1.94%-53,256Timeline
PGPROCTER & GAMBLE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,033,011 shares; 2024Q4: 4,057,598 shares; 2025Q1: 3,905,702 shares; 2025Q2: 3,131,954 shares; 2025Q3: 3,096,726 shares 3,096,726$476M1.87%-35,228Timeline
ROPROPER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 255,104 shares; 2024Q4: 270,705 shares; 2025Q1: 300,048 shares; 2025Q2: 389,078 shares; 2025Q3: 896,161 shares 896,161$447M1.76%+507,083Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 540,045 shares; 2024Q4: 537,268 shares; 2025Q1: 578,928 shares; 2025Q2: 555,409 shares; 2025Q3: 586,067 shares 586,067$430M1.7%+30,658Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,228 shares; 2024Q4: 9,853 shares; 2025Q1: 10,207 shares; 2025Q2: 10,270 shares; 2025Q3: 181,719 shares 181,719$425M1.67%+171,449Timeline
BNTXBIONTECH SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,359,607 shares; 2024Q4: 4,406,843 shares; 2025Q1: 4,259,631 shares; 2025Q2: 4,230,098 shares; 2025Q3: 4,230,033 shares 4,230,033$417M1.64%-65Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 715,916 shares; 2024Q4: 724,465 shares; 2025Q1: 723,992 shares; 2025Q2: 720,469 shares; 2025Q3: 731,305 shares 731,305$356M1.4%+10,836Timeline
LULULULULEMON ATHLETICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,393,484 shares; 2024Q4: 1,271,320 shares; 2025Q1: 1,401,885 shares; 2025Q2: 1,640,217 shares; 2025Q3: 1,930,831 shares 1,930,831$344M1.35%+290,614Timeline
LINLINDE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 329,259 shares; 2024Q4: 368,941 shares; 2025Q1: 375,582 shares; 2025Q2: 366,009 shares; 2025Q3: 721,959 shares 721,959$343M1.35%+355,950Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 726,209 shares; 2024Q4: 700,899 shares; 2025Q1: 609,389 shares; 2025Q2: 608,204 shares; 2025Q3: 590,809 shares 590,809$336M1.32%-17,395Timeline
GGGGRACO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,499,200 shares; 2024Q4: 3,499,200 shares; 2025Q1: 3,499,200 shares; 2025Q2: 3,337,450 shares; 2025Q3: 3,337,450 shares 3,337,450$284M1.12%0Timeline
CRMSALESFORCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 855,686 shares; 2024Q4: 692,443 shares; 2025Q1: 711,099 shares; 2025Q2: 841,028 shares; 2025Q3: 924,010 shares 924,010$219M0.86%+82,982Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 255,019 shares; 2024Q4: 229,323 shares; 2025Q1: 280,996 shares; 2025Q2: 316,397 shares; 2025Q3: 757,970 shares 757,970$212M0.83%+441,573Timeline
RALRALLIANT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,084,903 shares; 2025Q3: 4,152,866 shares 4,152,866$182M0.72%+67,963Timeline
BLKBLACKROCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 197,071 shares; 2025Q1: 166,929 shares; 2025Q2: 164,730 shares; 2025Q3: 129,157 shares 129,157$151M0.59%-35,573Timeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 711,587 shares; 2024Q4: 751,803 shares; 2025Q1: 867,964 shares; 2025Q2: 888,360 shares; 2025Q3: 409,454 shares 409,454$142M0.56%-478,906Timeline
IEXIDEX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 275,267 shares; 2025Q2: 640,792 shares; 2025Q3: 791,020 shares 791,020$129M0.51%+150,228Timeline
MSCIMSCI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 327,072 shares; 2024Q4: 293,972 shares; 2025Q1: 215,599 shares; 2025Q2: 209,331 shares; 2025Q3: 226,772 shares 226,772$129M0.51%+17,441Timeline
ADIANALOG DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 319,458 shares; 2024Q4: 471,859 shares; 2025Q1: 440,197 shares; 2025Q2: 426,142 shares; 2025Q3: 517,199 shares 517,199$127M0.5%+91,057Timeline
MDTMEDTRONIC PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,163,303 shares; 2024Q4: 2,071,032 shares; 2025Q1: 1,394,619 shares; 2025Q2: 1,341,102 shares; 2025Q3: 1,265,609 shares 1,265,609$121M0.47%-75,493Timeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 105,197 shares; 2025Q2: 257,267 shares; 2025Q3: 353,013 shares 353,013$116M0.46%+95,746Timeline
DGDOLLAR GEN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,281,639 shares; 2024Q4: 1,273,255 shares; 2025Q1: 1,206,739 shares; 2025Q2: 981,383 shares; 2025Q3: 1,046,937 shares 1,046,937$108M0.43%+65,554Timeline
MCDMCDONALDS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 528,269 shares; 2024Q4: 517,698 shares; 2025Q1: 460,417 shares; 2025Q2: 318,413 shares; 2025Q3: 344,769 shares 344,769$105M0.41%+26,356Timeline
MMM3M COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,013,019 shares; 2024Q4: 939,529 shares; 2025Q1: 799,813 shares; 2025Q2: 793,280 shares; 2025Q3: 656,217 shares 656,217$102M0.4%-137,063Timeline
SYKSTRYKER CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 424,032 shares; 2024Q4: 394,666 shares; 2025Q1: 379,735 shares; 2025Q2: 273,380 shares; 2025Q3: 275,422 shares 275,422$102M0.4%+2,042Timeline
NDAQNASDAQ INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,168,531 shares; 2024Q4: 1,117,101 shares; 2025Q1: 1,158,977 shares; 2025Q2: 1,172,990 shares; 2025Q3: 1,126,905 shares 1,126,905$99.7M0.39%-46,085Timeline
CPRTCOPART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 614,104 shares; 2024Q4: 575,196 shares; 2025Q1: 586,410 shares; 2025Q2: 1,135,122 shares; 2025Q3: 2,147,849 shares 2,147,849$96.6M0.38%+1,012,727Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 308,020 shares; 2024Q4: 272,320 shares; 2025Q1: 248,415 shares; 2025Q2: 342,032 shares; 2025Q3: 416,326 shares 416,326$77.7M0.31%+74,294Timeline
UBERUBER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 789,244 shares; 2024Q4: 1,274,740 shares; 2025Q1: 1,073,876 shares; 2025Q2: 754,016 shares; 2025Q3: 722,612 shares 722,612$70.8M0.28%-31,404Timeline
IDXXIDEXX LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,545 shares; 2024Q4: 473,336 shares; 2025Q1: 551,764 shares; 2025Q2: 241,125 shares; 2025Q3: 110,534 shares 110,534$70.6M0.28%-130,591Timeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,212 shares; 2024Q4: 49,850 shares; 2025Q1: 45,995 shares; 2025Q2: 54,979 shares; 2025Q3: 57,741 shares 57,741$69.2M0.27%+2,762Timeline
ITWILLINOIS TOOL WKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 223,596 shares; 2024Q4: 300,760 shares; 2025Q1: 277,675 shares; 2025Q2: 266,791 shares; 2025Q3: 263,592 shares 263,592$68.7M0.27%-3,199Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,015,370 shares; 2024Q4: 1,033,520 shares; 2025Q1: 1,049,520 shares; 2025Q2: 975,655 shares; 2025Q3: 1,982,810 shares 1,982,810$67.7M0.27%+1,007,155Timeline
BKNGBOOKING HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 67,246 shares; 2024Q4: 27,302 shares; 2025Q1: 17,076 shares; 2025Q2: 16,010 shares; 2025Q3: 12,361 shares 12,361$66.7M0.26%-3,649Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,013,010 shares; 2024Q4: 1,110,669 shares; 2025Q1: 993,108 shares; 2025Q2: 863,021 shares; 2025Q3: 869,928 shares 869,928$57.7M0.23%+6,907Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 199,576 shares; 2024Q4: 201,558 shares; 2025Q1: 180,643 shares; 2025Q2: 185,439 shares; 2025Q3: 101,816 shares 101,816$48.5M0.19%-83,623Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,287,652 shares; 2024Q4: 1,109,748 shares; 2025Q1: 512,554 shares; 2025Q2: 410,122 shares; 2025Q3: 412,285 shares 412,285$42.5M0.17%+2,163Timeline
RACEFERRARI N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,958 shares; 2024Q4: 41,491 shares; 2025Q1: 49,236 shares; 2025Q2: 60,201 shares; 2025Q3: 83,106 shares 83,106$40.1M0.16%+22,905Timeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 585,799 shares; 2024Q4: 610,136 shares; 2025Q1: 458,827 shares; 2025Q2: 335,684 shares; 2025Q3: 321,523 shares 321,523$36.3M0.14%-14,161Timeline
BDXBECTON DICKINSON & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 275,061 shares; 2024Q4: 190,637 shares; 2025Q1: 194,130 shares; 2025Q2: 211,226 shares; 2025Q3: 165,320 shares 165,320$30.9M0.12%-45,906Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,243 shares; 2024Q4: 249,100 shares; 2025Q1: 198,200 shares; 2025Q2: 184,000 shares; 2025Q3: 155,000 shares 155,000$27.7M0.11%-29,000Timeline
AXPAMERICAN EXPRESS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 157,659 shares; 2024Q4: 99,553 shares; 2025Q1: 99,992 shares; 2025Q2: 77,505 shares; 2025Q3: 79,387 shares 79,387$26.4M0.1%+1,882Timeline
DISDISNEY WALT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 409,380 shares; 2024Q4: 387,283 shares; 2025Q1: 389,507 shares; 2025Q2: 356,954 shares; 2025Q3: 229,321 shares 229,321$26.3M0.1%-127,633Timeline
CLCOLGATE PALMOLIVE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 270,175 shares; 2024Q4: 270,595 shares; 2025Q1: 279,336 shares; 2025Q2: 315,928 shares; 2025Q3: 301,906 shares 301,906$24.1M0.1%-14,022Timeline
ODFLOLD DOMINION FREIGHT LINE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 165,245 shares; 2024Q4: 362,706 shares; 2025Q1: 372,705 shares; 2025Q2: 106,638 shares; 2025Q3: 134,325 shares 134,325$18.9M0.07%+27,687Timeline
ADBEADOBE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,827 shares; 2024Q4: 71,136 shares; 2025Q1: 57,842 shares; 2025Q2: 50,109 shares; 2025Q3: 51,714 shares 51,714$18.2M0.07%+1,605Timeline
HDHOME DEPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,127 shares; 2024Q4: 70,578 shares; 2025Q1: 56,455 shares; 2025Q2: 46,127 shares; 2025Q3: 43,755 shares 43,755$17.7M0.07%-2,372Timeline
ROSTROSS STORES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 90,227 shares; 2024Q4: 67,794 shares; 2025Q1: 77,077 shares; 2025Q2: 108,115 shares; 2025Q3: 116,042 shares 116,042$17.7M0.07%+7,927Timeline
PYPLPAYPAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 870,203 shares; 2024Q4: 582,198 shares; 2025Q1: 492,193 shares; 2025Q2: 341,868 shares; 2025Q3: 255,634 shares 255,634$17.1M0.07%-86,234Timeline
TJXTJX COS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 147,059 shares; 2024Q4: 113,124 shares; 2025Q1: 125,150 shares; 2025Q2: 131,535 shares; 2025Q3: 112,462 shares 112,462$16.3M0.06%-19,073Timeline
VZVERIZON COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 251,218 shares; 2024Q4: 310,705 shares; 2025Q1: 400,898 shares; 2025Q2: 356,179 shares; 2025Q3: 356,179 shares 356,179$15.7M0.06%0Timeline
ELLAUDER ESTEE COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 96,803 shares; 2024Q4: 189,998 shares; 2025Q1: 61,368 shares; 2025Q2: 59,387 shares; 2025Q3: 175,000 shares 175,000$15.4M0.06%+115,613Timeline
MKTXMARKETAXESS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,300 shares; 2024Q4: 16,290 shares; 2025Q1: 23,000 shares; 2025Q2: 23,000 shares; 2025Q3: 79,000 shares 79,000$13.8M0.05%+56,000Timeline
VRSKVERISK ANALYTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 271,307 shares; 2024Q4: 285,545 shares; 2025Q1: 229,669 shares; 2025Q2: 124,894 shares; 2025Q3: 53,863 shares 53,863$13.5M0.05%-71,031Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 625,000 shares; 2024Q4: 550,000 shares; 2025Q1: 720,000 shares; 2025Q2: 800,000 shares; 2025Q3: 800,000 shares 800,000$12.8M0.05%0Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 93,341 shares; 2024Q4: 200,705 shares; 2025Q1: 138,584 shares; 2025Q2: 99,945 shares; 2025Q3: 50,450 shares 50,450$11.9M0.05%-49,495Timeline
CHDCHURCH & DWIGHT CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 152,962 shares; 2024Q4: 151,999 shares; 2025Q1: 153,269 shares; 2025Q2: 148,613 shares; 2025Q3: 127,863 shares 127,863$11.2M0.04%-20,750Timeline
SBUXSTARBUCKS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,566,500 shares; 2024Q4: 4,636,199 shares; 2025Q1: 325,949 shares; 2025Q2: 270,361 shares; 2025Q3: 128,281 shares 128,281$10.9M0.04%-142,080Timeline
INTUINTUITQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 42,812 shares; 2024Q4: 37,600 shares; 2025Q1: 17,493 shares; 2025Q2: 15,322 shares; 2025Q3: 13,840 shares 13,840$9.45M0.04%-1,482Timeline
COPCONOCOPHILLIPSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 267,324 shares; 2024Q4: 223,128 shares; 2025Q1: 142,811 shares; 2025Q2: 96,966 shares; 2025Q3: 97,856 shares 97,856$9.26M0.04%+890Timeline
SWSMURFIT WESTROCK PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 492,686 shares; 2024Q4: 456,209 shares; 2025Q1: 414,532 shares; 2025Q2: 227,435 shares; 2025Q3: 206,260 shares 206,260$8.64M0.03%-21,175Timeline
BXBLACKSTONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,000 shares; 2024Q4: 45,000 shares; 2025Q1: 45,000 shares; 2025Q2: 45,000 shares; 2025Q3: 45,000 shares 45,000$7.69M0.03%0Timeline
ORLYOREILLY AUTOMOTIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,058 shares; 2024Q4: 12,295 shares; 2025Q1: 5,520 shares; 2025Q2: 67,505 shares; 2025Q3: 68,918 shares 68,918$7.43M0.03%+1,413Timeline
SPOTSPOTIFY TECHNOLOGY S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 370 shares; 2025Q2: 5,134 shares; 2025Q3: 10,091 shares 10,091$7.04M0.03%+4,957Timeline
FASTFASTENAL COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 537,812 shares; 2024Q4: 234,507 shares; 2025Q1: 220,084 shares; 2025Q2: 201,536 shares; 2025Q3: 130,667 shares 130,667$6.41M0.03%-70,869Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,000 shares; 2024Q4: 175,000 shares; 2025Q1: 190,000 shares; 2025Q2: 190,000 shares; 2025Q3: 190,000 shares 190,000$6.12M0.02%0Timeline
TTTRANE TECHNOLOGIES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 12,000 shares 12,000$5.06M0.02%newTimeline
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 130,000 shares; 2024Q4: 140,000 shares; 2025Q1: 140,000 shares; 2025Q2: 160,000 shares; 2025Q3: 160,000 shares 160,000$4.84M0.02%0Timeline
MMYTMAKEMYTRIP LIMITED MAURITIUSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,500 shares; 2024Q4: 17,000 shares; 2025Q1: 20,000 shares; 2025Q2: 19,000 shares; 2025Q3: 37,500 shares 37,500$3.51M0.01%+18,500Timeline
YUMCYUM CHINA HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 80,000 shares; 2024Q4: 80,000 shares; 2025Q1: 80,000 shares; 2025Q2: 82,500 shares; 2025Q3: 80,000 shares 80,000$3.43M0.01%-2,500Timeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 40,000 shares; 2025Q3: 45,000 shares 45,000$3.38M0.01%+5,000Timeline
BRK-ABERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3 shares; 2024Q4: 4 shares; 2025Q1: 4 shares; 2025Q2: 4 shares; 2025Q3: 4 shares 4$3.02M0.01%0Timeline
NTESNETEASE COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,500 shares; 2024Q4: 20,000 shares; 2025Q1: 20,000 shares; 2025Q2: 17,500 shares; 2025Q3: 17,500 shares 17,500$2.66M0.01%0Timeline
MDLZMONDELEZ INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 191,984 shares; 2024Q4: 193,884 shares; 2025Q1: 170,434 shares; 2025Q2: 32,070 shares; 2025Q3: 38,625 shares 38,625$2.41M0.01%+6,555Timeline
FMXFOMENTO ECONOMICO MEXICANO SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,500 shares; 2024Q4: 22,500 shares; 2025Q1: 22,500 shares; 2025Q2: 20,000 shares; 2025Q3: 20,000 shares 20,000$1.97M0.01%0Timeline
KSPIKASPI KZ JSCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,500 shares; 2024Q4: 15,000 shares; 2025Q1: 25,000 shares; 2025Q2: 21,500 shares; 2025Q3: 21,500 shares 21,500$1.76M0.01%0Timeline
SLBSLB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 429,849 shares; 2024Q4: 310,735 shares; 2025Q1: 106,477 shares; 2025Q2: 59,798 shares; 2025Q3: 45,731 shares 45,731$1.57M0.01%-14,067Timeline
ADPAUTOMATIC DATA PROCESSING INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 82,692 shares; 2024Q4: 70,692 shares; 2025Q1: 64,509 shares; 2025Q2: 43,867 shares; 2025Q3: 4,872 shares 4,872$1.43M0.01%-38,995Timeline
ABNBAIRBNB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,960 shares; 2024Q4: 17,675 shares; 2025Q1: 16,899 shares; 2025Q2: 10,781 shares; 2025Q3: 10,781 shares 10,781$1.31M0.01%0Timeline
GLOBGLOBANT S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,500 shares; 2024Q4: 17,500 shares; 2025Q1: 19,000 shares; 2025Q2: 19,000 shares; 2025Q3: 19,000 shares 19,000$1.09M<0.01%0Timeline
IBMINTERNATIONAL BUSINESS MACHSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,505 shares 3,505$989K<0.01%newTimeline
EAELECTRONIC ARTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,303 shares; 2024Q4: 80,502 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,425 shares 4,425$893K<0.01%newTimeline
CHKPCHECK POINT SOFTWARE TECH LTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,017 shares 4,017$831K<0.01%newTimeline
FTNTFORTINET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 9,753 shares 9,753$820K<0.01%newTimeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,245 shares 4,245$561K<0.01%newTimeline
INFYINFOSYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 33,807 shares 33,807$550K<0.01%newTimeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,577 shares; 2024Q4: 2,189 shares; 2025Q1: 2,209 shares; 2025Q2: 1,989 shares; 2025Q3: 2,239 shares 2,239$545K<0.01%+250Timeline
CDNSCADENCE DESIGN SYSTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,580 shares; 2024Q4: 14,580 shares; 2025Q1: not reported; 2025Q2: 997 shares; 2025Q3: 997 shares 997$350K<0.01%0Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,720 shares; 2024Q4: 1,770 shares; 2025Q1: 3,230 shares; 2025Q2: not reported; 2025Q3: 840 shares 840$236K<0.01%newTimeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,731 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,500 shares; 2025Q3: 2,500 shares 2,500$211K<0.01%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
META PLATFORMS INCMETA PLATFORMS INC PUTput45$3.3M0

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
FIVERR INTL LTDFIVERR INTL LTD NOTE 11/0principal2,750,000$2.74M0
HALOZYME THERAPEUTICS INCHALOZYME THERAPEUTICS INC NOTE 0.250% 3/0principal1,750,000$2.01M+250,000
SNAP INCSNAP INC NOTE 5/0principal1,900,000$1.76M0
AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 1.125% 2/1principal1,700,000$1.6M-1,000,000
ETSY INCETSY INC NOTE 0.250% 6/1principal1,400,000$1.25M-800,000
AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 0.375% 9/0principal900,000$863K0
UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC NOTE 12/1principal500,000$610K0
UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC NOTE 0.875%12/0principal200,000$295K-300,000
HALOZYME THERAPEUTICS INCHALOZYME THERAPEUTICS INC NOTE 1.000% 8/1principal200,000$282K-200,000
SNAP INCSNAP INC NOTE 0.125% 3/0principal300,000$269K-700,000

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD1,200,000$1.22Mprincipal

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001575677-25-000014 base2025-11-03acceptance time not in the bulk data set