Investor: George Fraise & Gordon March&
Number of Assets: 56
Reporting Period: Q1 - 2025
Holdings at Report: $17,928,284,678
Return Since Report: +$2,195,289,273
Return Since Report: +12.24%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Alcon Inc. (ALC) | Equity | -16.52% | 3,153,785 | 1.67% | $94.93 | $91.78 | $299,388,810 | $289,438,618 | -$9,950,192 | -3.32% |
| Alibaba Group Holding Limited (BABA) | Equity | +100% | 35,692 | 0.03% | $132.23 | $120.13 | $4,719,553 | $4,287,680 | -$431,873 | -9.15% |
| Alphabet Inc. (GOOGL) | Equity | -6.61% | 11,971 | 0.01% | $154.64 | $193.25 | $1,851,195 | $2,313,384 | +$462,189 | +24.97% |
| Alphabet Inc. (GOOG) | Equity | -2.72% | 2,801,414 | 2.44% | $156.23 | $194.23 | $437,664,909 | $544,118,641 | +$106,453,732 | +24.32% |
| Amazon.com Inc. (AMZN) | Equity | +6.15% | 6,573,828 | 6.98% | $190.26 | $231.86 | $1,250,736,515 | $1,524,207,760 | +$273,471,245 | +21.86% |
| American Express Company (AXP) | Equity | -17.63% | 827,494 | 1.24% | $269.05 | $311.77 | $222,637,261 | $257,987,804 | +$35,350,543 | +15.88% |
| Aon PLC (AON) | Equity | -29.63% | 1,592,962 | 3.55% | $399.09 | $374.03 | $635,735,205 | $595,818,763 | -$39,916,442 | -6.28% |
| Apple Inc. (AAPL) | Equity | -6.22% | 2,385,330 | 2.96% | $222.13 | $213.72 | $529,853,353 | $509,780,801 | -$20,072,552 | -3.79% |
| Atlassian Corp. (TEAM) | Equity | -87.63% | 50,223 | 0.06% | $212.21 | $203.02 | $10,657,822 | $10,196,022 | -$461,800 | -4.33% |
| Autodesk Inc. (ADSK) | Equity | -62.37% | 730,597 | 1.07% | $261.80 | $303.67 | $191,270,295 | $221,856,738 | +$30,586,443 | +15.99% |
| Canadian Pacific Kansas City Limited (CP) | Equity | -4.91% | 8,363,710 | 3.28% | $70.21 | $76.58 | $587,216,079 | $640,492,912 | +$53,276,833 | +9.07% |
| Danaher Corp. (DHR) | Equity | -21.94% | 2,522,956 | 2.88% | $205.00 | $205.75 | $517,205,980 | $519,098,197 | +$1,892,217 | +0.37% |
| Ecolab Inc. (ECL) | Equity | -44.11% | 709,141 | 1.00% | $253.52 | $271.34 | $179,781,426 | $192,414,773 | +$12,633,347 | +7.03% |
| Grab Holdings Limited (GRAB) | Equity | +100% | 1,361,124 | 0.03% | $4.53 | $5.37 | $6,165,892 | $7,302,430 | +$1,136,538 | +18.43% |
| HDFC Bank Limited (HDB) | Equity | -4.56% | 7,803,497 | 2.89% | $66.44 | $77.93 | $518,464,341 | $608,087,504 | +$89,623,163 | +17.29% |
| AIA Group Limited (AAGIY) | Equity | 0% | 192,895 | 0.03% | $30.25 | $36.21 | $5,835,074 | $6,984,728 | +$1,149,654 | +19.70% |
| Arm Holdings PLC (ARM) | Equity | +100% | 1,594,594 | 0.95% | $106.79 | $164.02 | $170,286,693 | $261,537,335 | +$91,250,642 | +53.59% |
| Experian PLC (EXPGY) | Equity | +102.96% | 155,671 | 0.04% | $46.40 | $54.45 | $7,223,134 | $8,476,286 | +$1,253,152 | +17.35% |
| Fomento Económico Mexicano S.A.B. De C.V. (FMX) | Equity | -7.54% | 270,487 | 0.15% | $97.58 | $98.03 | $26,394,122 | $26,515,841 | +$121,719 | +0.46% |
| Gartner Inc. (IT) | Equity | +26.32% | 676,325 | 1.58% | $419.74 | $358.11 | $283,880,656 | $242,198,746 | -$41,681,910 | -14.68% |
| Icon Public Limited Company (ICLR) | Equity | -5.14% | 1,511,838 | 1.48% | $174.99 | $187.51 | $264,556,531 | $283,484,743 | +$18,928,212 | +7.15% |
| Lvmh Moët Hennessy - Louis Vuitton Société Européenne (LVMUY) | Equity | +36.07% | 55,380 | 0.04% | $123.87 | $115.75 | $6,859,921 | $6,410,235 | -$449,686 | -6.56% |
| Linde PLC (LIN) | Equity | -10.28% | 30,663 | 0.08% | $465.64 | $472.70 | $14,277,919 | $14,494,400 | +$216,481 | +1.52% |
| MSCI Inc. (MSCI) | Equity | -99.85% | 1,410 | 0.00% | $565.50 | $547.92 | $797,355 | $772,567 | -$24,788 | -3.11% |
| Infosys Limited (INFY) | Equity | +50.17% | 14,877,543 | 1.51% | $18.25 | $18.24 | $271,515,160 | $271,366,384 | -$148,776 | -0.05% |
| Intuit Inc. (INTU) | Equity | +1.08% | 1,444,779 | 4.95% | $613.99 | $790.11 | $887,079,858 | $1,141,527,112 | +$254,447,254 | +28.68% |
| Novo Nordisk As (NVO) | Equity | +3.79% | 5,543,246 | 2.15% | $69.44 | $71.71 | $384,923,002 | $397,506,171 | +$12,583,169 | +3.27% |
| Nvidia Corp. (NVDA) | Equity | +38.83% | 7,136,607 | 4.31% | $108.38 | $173.98 | $773,465,467 | $1,241,591,203 | +$468,125,736 | +60.52% |
| S&P Global Inc. (SPGI) | Equity | -5.84% | 1,535,939 | 4.35% | $508.10 | $535.31 | $780,410,606 | $822,195,826 | +$41,785,220 | +5.35% |
| Shopify Inc. (SHOP) | Equity | +7.78% | 115,085 | 0.06% | $95.48 | $125.03 | $10,988,316 | $14,389,078 | +$3,400,762 | +30.95% |
| Starbucks Corp. (SBUX) | Equity | -7.87% | 1,928,154 | 1.05% | $98.09 | $94.25 | $189,132,626 | $181,728,515 | -$7,404,111 | -3.91% |
| Tencent Music Entertainment Group (TME) | Equity | +41.55% | 591,536 | 0.05% | $14.41 | $21.25 | $8,524,034 | $12,567,182 | +$4,043,148 | +47.43% |
| Thermo Fisher Scientific Inc. (TMO) | Equity | -11.26% | 632,040 | 1.75% | $497.60 | $477.97 | $314,503,104 | $302,096,159 | -$12,406,945 | -3.94% |
| Universal Music Gro Unsp Adr | Equity | +4.30% | 634,244 | 0.05% | $13.72 | $0.00 | $8,701,828 | $0 | -$8,701,828 | -100% |
| Workday Inc. (WDAY) | Equity | -30.06% | 1,858,544 | 2.42% | $233.53 | $241.86 | $434,025,781 | $449,498,159 | +$15,472,378 | +3.56% |
| Ishares Core S&P 500 ETF (IVV) | Equity | -4.09% | 845 | 0.00% | $561.90 | $640.35 | $474,806 | $541,096 | +$66,290 | +13.96% |
| Mercadolibre Inc. (MELI) | Equity | +9.23% | 151,317 | 1.65% | $1,950.87 | $2,361.08 | $295,199,796 | $357,271,542 | +$62,071,746 | +21.03% |
| Meta Platforms Inc. (META) | Equity | +23.14% | 1,539,292 | 4.95% | $576.36 | $715.15 | $887,186,337 | $1,100,824,674 | +$213,638,337 | +24.08% |
| Microsoft Corp. (MSFT) | Equity | -0.44% | 3,096,725 | 6.48% | $375.39 | $517.06 | $1,162,479,597 | $1,601,192,629 | +$438,713,032 | +37.74% |
| Netflix Inc. (NFLX) | Equity | -5.35% | 222,016 | 1.15% | $932.53 | $1,179.81 | $207,036,580 | $261,935,587 | +$54,899,007 | +26.52% |
| Sap Se (SAP) | Equity | -6.87% | 65,334 | 0.10% | $268.44 | $287.76 | $17,538,259 | $18,800,185 | +$1,261,926 | +7.20% |
| Salesforce Inc. (CRM) | Equity | +37.85% | 1,627,118 | 2.44% | $268.36 | $269.95 | $436,653,387 | $439,240,504 | +$2,587,117 | +0.59% |
| Servicenow Inc. (NOW) | Equity | +96.68% | 723,457 | 3.21% | $796.14 | $971.73 | $575,973,056 | $703,001,253 | +$127,028,197 | +22.05% |
| The Sherwin-Williams Company (SHW) | Equity | -4.43% | 583 | 0.00% | $349.19 | $339.66 | $203,578 | $198,022 | -$5,556 | -2.73% |
| Steris PLC (STE) | Equity | -4.86% | 1,316,062 | 1.66% | $226.65 | $230.86 | $298,285,452 | $303,826,073 | +$5,540,621 | +1.86% |
| Synopsys Inc. (SNPS) | Equity | +2.41% | 1,575,732 | 3.77% | $428.85 | $608.00 | $675,752,668 | $958,045,056 | +$282,292,388 | +41.77% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | +116.84% | 554,775 | 0.51% | $166.00 | $246.08 | $92,092,650 | $136,516,258 | +$44,423,608 | +48.24% |
| Unilever PLC (UL) | Equity | -0.00% | 166,554 | 0.06% | $59.55 | $60.34 | $9,918,291 | $10,049,868 | +$131,577 | +1.33% |
| UnitedHealth Group Inc. (UNH) | Equity | -1.24% | 1,637,999 | 4.79% | $523.75 | $282.19 | $857,901,976 | $462,226,938 | -$395,675,038 | -46.12% |
| Vanguard Growth Index Fund ETF Shares (VUG) | Equity | +12.40% | 952 | 0.00% | $370.82 | $420.69 | $353,021 | $400,497 | +$47,476 | +13.45% |
| Visa Inc. (V) | Equity | -7.31% | 3,289,651 | 6.43% | $350.46 | $357.12 | $1,152,891,090 | $1,174,800,165 | +$21,909,075 | +1.90% |
| Waste Connections Inc. (WCN) | Equity | +38.77% | 92,889 | 0.10% | $195.19 | $187.12 | $18,131,004 | $17,381,390 | -$749,614 | -4.13% |
| Waste Management Inc. (WM) | Equity | -7.29% | 1,863,378 | 2.41% | $231.51 | $229.68 | $431,390,641 | $427,971,342 | -$3,419,299 | -0.79% |
| XP Inc. (XP) | Equity | +13.78% | 671,993 | 0.05% | $13.75 | $16.50 | $9,239,904 | $11,087,885 | +$1,847,980 | +20.00% |
| Yum! Brands Inc. (YUM) | Equity | -36.65% | 3,534,254 | 3.10% | $157.36 | $146.38 | $556,150,209 | $517,344,101 | -$38,806,108 | -6.98% |
| Ishares Russell 1000 Growth ETF (IWF) | Equity | -0.33% | 18,562 | 0.04% | $361.09 | $440.48 | $6,702,553 | $8,176,190 | +$1,473,637 | +21.99% |