Investor: Bert Flossbach & Kurt von Storch
Number of Assets: 112
Reporting Period: Q2 - 2025
Holdings at Report: $24,466,965,963
Return Since Report: +$933,004,492
Return Since Report: +3.81%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Accenture PLC (ACN) | Equity | +48.00% | 2,408,800 | 2.94% | $298.89 | $251.60 | $719,966,232 | $606,054,080 | -$113,912,152 | -15.82% |
| Adobe Inc. (ADBE) | Equity | -13.37% | 50,109 | 0.08% | $386.88 | $353.32 | $19,386,170 | $17,704,512 | -$1,681,658 | -8.67% |
| Alibaba Group Holding Limited (BABA) | Equity | -7.16% | 184,000 | 0.09% | $113.41 | $146.24 | $20,867,440 | $26,908,160 | +$6,040,720 | +28.95% |
| Alphabet Inc. (GOOG) | Equity | -9.96% | 1,989 | 0.00% | $177.39 | $239.54 | $352,829 | $476,445 | +$123,616 | +35.04% |
| Amazon.com Inc. (AMZN) | Equity | +14.01% | 6,843,320 | 6.14% | $219.39 | $238.22 | $1,501,356,478 | $1,630,215,690 | +$128,859,212 | +8.58% |
| American Express Company (AXP) | Equity | -22.49% | 77,505 | 0.10% | $318.98 | $323.49 | $24,722,545 | $25,072,092 | +$349,547 | +1.41% |
| Ametek Inc. (AME) | Equity | +0.41% | 3,785,676 | 2.80% | $180.96 | $186.87 | $685,055,929 | $707,429,274 | +$22,373,345 | +3.27% |
| Becton Dickinson And Company (BDX) | Equity | +8.81% | 211,226 | 0.15% | $172.25 | $190.51 | $36,383,679 | $40,239,609 | +$3,855,930 | +10.60% |
| Berkshire Hathaway Inc. (BRK-B) | Equity | -22.64% | 2,781,382 | 5.53% | $485.77 | $493.55 | $1,351,111,934 | $1,372,737,179 | +$21,625,245 | +1.60% |
| Church & Dwight Co. Inc. (CHD) | Equity | -3.04% | 148,613 | 0.06% | $96.11 | $94.76 | $14,283,195 | $14,081,825 | -$201,370 | -1.41% |
| The Coca-Cola Company (KO) | Equity | -13.10% | 863,021 | 0.25% | $70.75 | $68.04 | $61,058,736 | $58,719,949 | -$2,338,787 | -3.83% |
| Colgate-Palmolive Company (CL) | Equity | +13.10% | 315,928 | 0.12% | $90.90 | $84.23 | $28,717,855 | $26,610,615 | -$2,107,240 | -7.34% |
| ConocoPhillips (COP) | Equity | -32.10% | 96,966 | 0.04% | $89.74 | $92.72 | $8,701,729 | $8,990,688 | +$288,959 | +3.32% |
| Copart Inc. (CPRT) | Equity | +93.57% | 1,135,122 | 0.23% | $49.07 | $48.15 | $55,700,437 | $54,656,124 | -$1,044,313 | -1.87% |
| Costar Group Inc. (CSGP) | Equity | +100% | 2,500 | 0.00% | $80.40 | $88.31 | $201,000 | $220,775 | +$19,775 | +9.84% |
| The Estée Lauder Companies Inc. (EL) | Equity | -3.23% | 59,387 | 0.02% | $80.80 | $88.53 | $4,798,470 | $5,257,531 | +$459,061 | +9.57% |
| Exxon Mobil Corp. (XOM) | Equity | -26.84% | 335,684 | 0.15% | $107.80 | $111.58 | $36,186,735 | $37,455,621 | +$1,268,886 | +3.51% |
| Fomento Económico Mexicano S.A.B. De C.V. (FMX) | Equity | -11.11% | 20,000 | 0.01% | $102.98 | $86.31 | $2,059,600 | $1,726,200 | -$333,400 | -16.19% |
| Ferrari N.V. (RACE) | Equity | +22.27% | 60,201 | 0.12% | $490.46 | $478.85 | $29,526,006 | $28,827,249 | -$698,757 | -2.37% |
| Fortive Corp. (FTV) | Equity | +1.59% | 12,043,449 | 2.57% | $52.13 | $47.57 | $627,824,996 | $572,906,869 | -$54,918,127 | -8.75% |
| Graco Inc. (GGG) | Equity | -4.62% | 3,337,450 | 1.17% | $85.97 | $84.59 | $286,920,577 | $282,314,896 | -$4,605,682 | -1.61% |
| Icici Bank Limited (IBN) | Equity | +14.29% | 160,000 | 0.02% | $33.64 | $31.84 | $5,382,400 | $5,094,400 | -$288,000 | -5.35% |
| Idexx Laboratories Inc. (IDXX) | Equity | -56.30% | 241,125 | 0.53% | $536.34 | $653.18 | $129,324,983 | $157,498,028 | +$28,173,044 | +21.78% |
| Joint Stock Company Kaspi.Kz (KSPI) | Equity | -14.00% | 21,500 | 0.01% | $84.89 | $87.50 | $1,825,135 | $1,881,250 | +$56,115 | +3.07% |
| Lululemon Athletica Inc. (LULU) | Equity | +17.00% | 1,640,217 | 1.59% | $237.58 | $166.11 | $389,682,755 | $272,456,446 | -$117,226,309 | -30.08% |
| Marketaxess Holdings Inc. (MKTX) | Equity | 0% | 23,000 | 0.02% | $223.34 | $187.92 | $5,136,820 | $4,322,252 | -$814,568 | -15.86% |
| Medtronic PLC (MDT) | Equity | -3.84% | 1,341,102 | 0.48% | $87.17 | $93.93 | $116,903,861 | $125,963,005 | +$9,059,144 | +7.75% |
| Mercadolibre Inc. (MELI) | Equity | +0.62% | 10,270 | 0.11% | $2,613.63 | $2,363.07 | $26,841,980 | $24,268,678 | -$2,573,302 | -9.59% |
| Microsoft Corp. (MSFT) | Equity | +0.34% | 3,418,400 | 6.95% | $497.41 | $498.50 | $1,700,346,344 | $1,704,072,400 | +$3,726,056 | +0.22% |
| Netease Inc. (NTES) | Equity | -12.50% | 17,500 | 0.01% | $134.58 | $144.29 | $2,355,150 | $2,525,075 | +$169,925 | +7.22% |
| Netflix Inc. (NFLX) | Equity | +19.53% | 54,979 | 0.30% | $1,339.13 | $1,264.23 | $73,624,028 | $69,506,101 | -$4,117,927 | -5.59% |
| Nu Holdings Ltd. (NU) | Equity | +11.11% | 800,000 | 0.04% | $13.72 | $15.35 | $10,976,000 | $12,281,600 | +$1,305,600 | +11.90% |
| Nvidia Corp. (NVDA) | Equity | +37.69% | 342,032 | 0.22% | $157.99 | $169.36 | $54,037,636 | $57,924,829 | +$3,887,193 | +7.19% |
| O'Reilly Automotive Inc. (ORLY) | Equity | +1122.92% | 67,505 | 0.02% | $90.13 | $106.36 | $6,084,226 | $7,179,832 | +$1,095,606 | +18.01% |
| Schlumberger Limited (SLB) | Equity | -43.84% | 59,798 | 0.01% | $33.80 | $36.04 | $2,021,172 | $2,154,821 | +$133,649 | +6.61% |
| The Sherwin-Williams Company (SHW) | Equity | +2.35% | 888,360 | 1.25% | $343.36 | $360.30 | $305,027,290 | $320,076,108 | +$15,048,818 | +4.93% |
| Spotify Technology S.A. (SPOT) | Equity | +1287.57% | 5,134 | 0.02% | $767.34 | $718.59 | $3,939,524 | $3,689,241 | -$250,283 | -6.35% |
| Stryker Corp. (SYK) | Equity | -28.01% | 273,380 | 0.44% | $395.63 | $391.24 | $108,157,329 | $106,957,191 | -$1,200,138 | -1.11% |
| Trip.Com Group Limited (TCOM) | Equity | +100% | 40,000 | 0.01% | $58.64 | $72.32 | $2,345,600 | $2,892,800 | +$547,200 | +23.33% |
| Uber Technologies Inc. (UBER) | Equity | -29.79% | 754,016 | 0.29% | $93.30 | $94.62 | $70,349,693 | $71,341,224 | +$991,531 | +1.41% |
| Union Pacific Corp. (UNP) | Equity | -27.88% | 99,945 | 0.09% | $230.08 | $216.00 | $22,995,346 | $21,588,120 | -$1,407,226 | -6.12% |
| Visa Inc. (V) | Equity | -3.10% | 2,151,030 | 3.12% | $355.05 | $344.24 | $763,723,202 | $740,459,812 | -$23,263,390 | -3.05% |
| Walmart Inc. (WMT) | Equity | -19.98% | 410,122 | 0.16% | $97.78 | $102.14 | $40,101,729 | $41,887,810 | +$1,786,081 | +4.45% |
| The Walt Disney Company (DIS) | Equity | -8.36% | 356,954 | 0.18% | $124.01 | $117.54 | $44,265,866 | $41,956,373 | -$2,309,493 | -5.22% |
| 3m Company (MMM) | Equity | -0.82% | 793,280 | 0.49% | $152.24 | $153.04 | $120,768,947 | $121,399,605 | +$630,658 | +0.52% |
| Abbott Laboratories (ABT) | Equity | -7.60% | 6,422,870 | 3.57% | $136.01 | $131.93 | $873,574,549 | $847,337,125 | -$26,237,424 | -3.00% |
| Airbnb Inc. (ABNB) | Equity | -36.20% | 10,781 | 0.01% | $132.34 | $123.71 | $1,426,758 | $1,333,718 | -$93,040 | -6.52% |
| Alphabet Inc. (GOOGL) | Equity | +17.95% | 6,665,699 | 4.80% | $176.23 | $239.51 | $1,174,696,541 | $1,596,501,567 | +$421,805,026 | +35.91% |
| Amphenol Corp. (APH) | Equity | -12.80% | 9,938,382 | 4.01% | $98.75 | $116.43 | $981,415,223 | $1,157,125,816 | +$175,710,593 | +17.90% |
| Analog Devices Inc. (ADI) | Equity | -3.19% | 426,142 | 0.41% | $238.02 | $247.00 | $101,430,319 | $105,257,074 | +$3,826,755 | +3.77% |
| Apple Inc. (AAPL) | Equity | -24.24% | 3,076,030 | 2.58% | $205.17 | $234.36 | $631,109,075 | $720,907,619 | +$89,798,544 | +14.23% |
| Applied Materials Inc. (AMAT) | Equity | +11.53% | 2,461,720 | 1.84% | $183.07 | $163.15 | $450,667,080 | $401,617,309 | -$49,049,771 | -10.88% |
| Automatic Data Processing Inc. (ADP) | Equity | -32.00% | 43,867 | 0.06% | $308.40 | $297.31 | $13,528,583 | $13,042,098 | -$486,485 | -3.60% |
| Berkshire Hathaway Inc. (BRK-A) | Equity | 0% | 4 | 0.01% | $728,800.00 | $739,274.88 | $2,915,200 | $2,957,100 | +$41,900 | +1.44% |
| Biontech Se (BNTX) | Equity | -0.69% | 4,230,098 | 1.84% | $106.47 | $102.85 | $450,378,534 | $435,065,579 | -$15,312,955 | -3.40% |
| Blackrock Inc. (BLK) | Equity | -1.32% | 164,730 | 0.71% | $1,049.25 | $1,106.02 | $172,842,953 | $182,194,675 | +$9,351,722 | +5.41% |
| Blackstone Inc. (BX) | Equity | 0% | 45,000 | 0.03% | $149.58 | $144.20 | $6,731,100 | $6,489,000 | -$242,100 | -3.60% |
| Booking Holdings Inc. (BKNG) | Equity | -6.24% | 16,010 | 0.38% | $5,789.24 | $5,598.38 | $92,685,732 | $89,630,064 | -$3,055,668 | -3.30% |
| Broadcom Inc. (AVGO) | Equity | +144.56% | 257,267 | 0.29% | $275.65 | $336.94 | $70,915,649 | $86,683,543 | +$15,767,894 | +22.23% |
| Cadence Design Systems Inc. (CDNS) | Equity | +100% | 997 | 0.00% | $308.15 | $361.06 | $307,226 | $359,977 | +$52,751 | +17.17% |
| The Charles Schwab Corp. (SCHW) | Equity | -2.13% | 10,580,171 | 3.95% | $91.24 | $93.56 | $965,334,802 | $989,827,898 | +$24,493,096 | +2.54% |
| Coupang Inc. (CPNG) | Equity | 0% | 190,000 | 0.02% | $29.96 | $32.07 | $5,692,400 | $6,092,350 | +$399,950 | +7.03% |
| Danaher Corp. (DHR) | Equity | +7.85% | 4,228,515 | 3.42% | $197.54 | $193.55 | $835,300,853 | $818,429,078 | -$16,871,775 | -2.02% |
| Dollar General Corp. (DG) | Equity | -18.67% | 981,383 | 0.46% | $114.38 | $104.63 | $112,250,588 | $102,677,196 | -$9,573,392 | -8.53% |
| Fastenal Company (FAST) | Equity | -8.43% | 201,536 | 0.03% | $42.00 | $47.84 | $8,464,512 | $9,640,475 | +$1,175,963 | +13.89% |
| Globant S.A. (GLOB) | Equity | 0% | 19,000 | 0.01% | $90.84 | $60.09 | $1,725,960 | $1,141,615 | -$584,345 | -33.86% |
| HDFC Bank Limited (HDB) | Equity | -7.04% | 975,655 | 0.31% | $76.67 | $35.14 | $74,803,469 | $34,284,517 | -$40,518,952 | -54.17% |
| The Home Depot Inc. (HD) | Equity | -18.29% | 46,127 | 0.07% | $366.64 | $414.70 | $16,912,003 | $19,128,636 | +$2,216,633 | +13.11% |
| Idex Corp. (IEX) | Equity | +132.79% | 640,792 | 0.46% | $175.57 | $161.38 | $112,503,851 | $103,411,013 | -$9,092,838 | -8.08% |
| Illinois Tool Works Inc. (ITW) | Equity | -3.92% | 266,791 | 0.27% | $247.25 | $261.87 | $65,964,075 | $69,864,559 | +$3,900,484 | +5.91% |
| Intercontinental Exchange Inc. (ICE) | Equity | -1.79% | 4,563,275 | 3.42% | $183.47 | $173.85 | $837,224,064 | $793,325,359 | -$43,898,705 | -5.24% |
| Intuit Inc. (INTU) | Equity | -12.41% | 15,322 | 0.05% | $787.63 | $671.75 | $12,068,067 | $10,292,554 | -$1,775,514 | -14.71% |
| Johnson & Johnson (JNJ) | Equity | -2.25% | 6,342,997 | 3.96% | $152.75 | $177.19 | $968,892,792 | $1,123,915,638 | +$155,022,846 | +16.00% |
| Linde PLC (LIN) | Equity | -2.55% | 366,009 | 0.70% | $469.18 | $473.50 | $171,724,103 | $173,303,431 | +$1,579,328 | +0.92% |
| MakeMyTrip Limited (MMYT) | Equity | -5.00% | 19,000 | 0.01% | $98.02 | $97.88 | $1,862,380 | $1,859,625 | -$2,755 | -0.15% |
| Mastercard Inc. (MA) | Equity | -0.19% | 608,204 | 1.40% | $561.94 | $585.53 | $341,774,156 | $356,121,688 | +$14,347,532 | +4.20% |
| Mcdonald'S Corp. (MCD) | Equity | -30.84% | 318,413 | 0.38% | $292.17 | $312.20 | $93,030,726 | $99,406,947 | +$6,376,221 | +6.85% |
| Meta Platforms Inc. (META) | Equity | -4.06% | 555,409 | 1.68% | $738.09 | $764.18 | $409,941,829 | $424,432,450 | +$14,490,621 | +3.53% |
| Mondelez International Inc. (MDLZ) | Equity | -81.18% | 32,070 | 0.01% | $67.44 | $62.74 | $2,162,801 | $2,011,911 | -$150,890 | -6.98% |
| Moody's Corp. (MCO) | Equity | +2.65% | 185,439 | 0.38% | $501.59 | $507.47 | $93,014,348 | $94,103,802 | +$1,089,454 | +1.17% |
| MSCI Inc. (MSCI) | Equity | -2.91% | 209,331 | 0.49% | $576.74 | $570.47 | $120,729,561 | $119,417,056 | -$1,312,505 | -1.09% |
| Nasdaq Inc. (NDAQ) | Equity | +1.21% | 1,172,990 | 0.43% | $89.42 | $81.83 | $104,888,766 | $95,985,772 | -$8,902,994 | -8.49% |
| Nike Inc. (NKE) | Equity | +9.51% | 11,265,390 | 3.27% | $71.04 | $73.48 | $800,293,306 | $827,724,530 | +$27,431,224 | +3.43% |
| Old Dominion Freight Line Inc. (ODFL) | Equity | -71.39% | 106,638 | 0.07% | $162.30 | $148.48 | $17,307,347 | $15,833,610 | -$1,473,737 | -8.52% |
| Paypal Holdings Inc. (PYPL) | Equity | -30.54% | 341,868 | 0.10% | $74.32 | $67.55 | $25,407,630 | $23,091,474 | -$2,316,156 | -9.12% |
| Pepsico Inc. (PEP) | Equity | +18.66% | 6,637,469 | 3.58% | $132.04 | $143.17 | $876,411,407 | $950,266,524 | +$73,855,117 | +8.43% |
| The Procter & Gamble Company (PG) | Equity | -19.81% | 3,131,954 | 2.04% | $159.32 | $159.48 | $498,982,911 | $499,484,024 | +$501,113 | +0.10% |
| Ralliant corp | Equity | +100% | 4,084,903 | 0.81% | $48.49 | N/A | $198,076,946 | N/A | N/A | N/A |
| Roper Technologies Inc. (ROP) | Equity | +29.67% | 389,078 | 0.90% | $566.84 | $520.89 | $220,544,974 | $202,666,839 | -$17,878,135 | -8.11% |
| Ross Stores Inc. (ROST) | Equity | +40.27% | 108,115 | 0.06% | $127.58 | $148.82 | $13,793,312 | $16,089,674 | +$2,296,362 | +16.65% |
| S&P Global Inc. (SPGI) | Equity | -0.49% | 720,469 | 1.55% | $527.29 | $547.31 | $379,896,099 | $394,319,888 | +$14,423,789 | +3.80% |
| Salesforce Inc. (CRM) | Equity | +18.27% | 841,028 | 0.94% | $272.69 | $252.20 | $229,339,925 | $212,107,262 | -$17,232,663 | -7.51% |
| Smurfit Westrock (SW) | Equity | -45.13% | 227,435 | 0.04% | $43.15 | $45.04 | $9,813,698 | $10,242,535 | +$428,837 | +4.37% |
| Starbucks Corp. (SBUX) | Equity | -17.05% | 270,361 | 0.10% | $91.63 | $83.45 | $24,773,178 | $22,561,625 | -$2,211,553 | -8.93% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | +12.60% | 316,397 | 0.29% | $226.49 | $251.74 | $71,660,757 | $79,650,414 | +$7,989,657 | +11.15% |
| Thermo Fisher Scientific Inc. (TMO) | Equity | +93.02% | 2,727,021 | 4.52% | $405.46 | $483.89 | $1,105,697,935 | $1,319,564,557 | +$213,866,622 | +19.34% |
| The Tjx Companies Inc. (TJX) | Equity | +5.10% | 131,535 | 0.07% | $123.49 | $139.81 | $16,243,257 | $18,389,908 | +$2,146,651 | +13.22% |
| Verisk Analytics Inc. (VRSK) | Equity | -45.62% | 124,894 | 0.16% | $311.50 | $313.10 | $38,904,481 | $39,104,311 | +$199,830 | +0.51% |
| Verizon Communications Inc. (VZ) | Equity | -11.15% | 356,179 | 0.06% | $43.27 | $43.63 | $15,411,865 | $15,538,309 | +$126,444 | +0.82% |
| Yum China Holdings Inc. (YUMC) | Equity | +3.13% | 82,500 | 0.02% | $44.71 | $44.51 | $3,688,575 | $3,671,663 | -$16,913 | -0.46% |