Investor: George Fraise & Gordon March&
Number of Assets: 55
Reporting Period: Q2 - 2025
Holdings at Report: $19,369,199,854
Return Since Report: -$611,260,166
Return Since Report: -3.16%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| AIA Group Limited (AAGIY) | Equity | +21.57% | 234,500 | 0.04% | $36.18 | $38.39 | $8,484,210 | $9,002,455 | +$518,245 | +6.11% |
| Arm Holdings PLC (ARM) | Equity | +116.81% | 3,457,220 | 2.89% | $161.74 | $141.05 | $559,170,763 | $487,623,595 | -$71,547,168 | -12.80% |
| Alcon Inc. (ALC) | Equity | +11.51% | 3,516,855 | 1.60% | $88.28 | $78.93 | $310,467,960 | $277,585,365 | -$32,882,595 | -10.59% |
| Alibaba Group Holding Limited (BABA) | Equity | +158.84% | 92,384 | 0.05% | $113.41 | $146.24 | $10,477,269 | $13,510,236 | +$3,032,967 | +28.95% |
| Alphabet Inc. (GOOGL) | Equity | -7.94% | 11,021 | 0.01% | $176.23 | $239.51 | $1,942,231 | $2,639,640 | +$697,409 | +35.91% |
| Alphabet Inc. (GOOG) | Equity | -3.02% | 2,716,918 | 2.49% | $177.39 | $239.54 | $481,954,084 | $650,810,538 | +$168,856,454 | +35.04% |
| Amazon.com Inc. (AMZN) | Equity | -2.93% | 6,381,153 | 7.23% | $219.39 | $238.22 | $1,399,961,157 | $1,520,118,268 | +$120,157,111 | +8.58% |
| American Express Company (AXP) | Equity | -1.45% | 815,459 | 1.34% | $318.98 | $323.49 | $260,115,112 | $263,792,832 | +$3,677,720 | +1.41% |
| Aon PLC (AON) | Equity | +15.96% | 1,847,140 | 3.40% | $356.76 | $368.08 | $658,985,666 | $679,895,291 | +$20,909,625 | +3.17% |
| Apple Inc. (AAPL) | Equity | -44.48% | 1,324,290 | 1.40% | $205.17 | $234.36 | $271,704,579 | $310,364,577 | +$38,659,998 | +14.23% |
| Atlassian Corp. (TEAM) | Equity | +35.34% | 67,970 | 0.07% | $203.09 | $180.99 | $13,804,027 | $12,301,890 | -$1,502,137 | -10.88% |
| Autodesk Inc. (ADSK) | Equity | -99.74% | 1,917 | 0.00% | $309.57 | $323.98 | $593,446 | $621,060 | +$27,614 | +4.65% |
| Canadian Pacific Kansas City Limited (CP) | Equity | -3.15% | 8,100,324 | 3.32% | $79.27 | $74.68 | $642,112,684 | $604,932,196 | -$37,180,488 | -5.79% |
| Chipotle Mexican Grill Inc. (CMG) | Equity | +100% | 10,632,783 | 3.08% | $56.15 | $39.44 | $597,030,766 | $419,356,962 | -$177,673,804 | -29.76% |
| Experian PLC (EXPGY) | Equity | 0% | 155,671 | 0.04% | $51.36 | $53.32 | $7,995,263 | $8,300,378 | +$305,115 | +3.82% |
| Fomento Económico Mexicano S.A.B. De C.V. (FMX) | Equity | -13.18% | 234,839 | 0.12% | $102.98 | $86.31 | $24,183,721 | $20,268,954 | -$3,914,767 | -16.19% |
| Gartner Inc. (IT) | Equity | +71.74% | 1,161,513 | 2.42% | $404.22 | $245.36 | $469,506,785 | $284,988,830 | -$184,517,955 | -39.30% |
| Infosys Limited (INFY) | Equity | -2.22% | 14,547,095 | 1.39% | $18.53 | $18.24 | $269,557,670 | $265,339,013 | -$4,218,657 | -1.57% |
| Intuit Inc. (INTU) | Equity | -4.02% | 1,386,636 | 5.64% | $787.63 | $671.75 | $1,092,156,113 | $931,472,733 | -$160,683,380 | -14.71% |
| Linde PLC (LIN) | Equity | -2.18% | 29,996 | 0.07% | $469.18 | $473.50 | $14,073,523 | $14,202,956 | +$129,433 | +0.92% |
| MSCI Inc. (MSCI) | Equity | -47.16% | 745 | 0.00% | $576.74 | $570.47 | $429,671 | $425,000 | -$4,671 | -1.09% |
| MakeMyTrip Limited (MMYT) | Equity | +100% | 55,579 | 0.03% | $98.02 | $97.88 | $5,447,854 | $5,439,795 | -$8,059 | -0.15% |
| Mercadolibre Inc. (MELI) | Equity | -23.27% | 116,106 | 1.57% | $2,613.63 | $2,363.07 | $303,458,125 | $274,366,025 | -$29,092,100 | -9.59% |
| Meta Platforms Inc. (META) | Equity | -2.15% | 1,506,253 | 5.74% | $738.09 | $764.18 | $1,111,750,277 | $1,151,048,418 | +$39,298,141 | +3.53% |
| Microsoft Corp. (MSFT) | Equity | -9.66% | 2,797,482 | 7.18% | $497.41 | $498.50 | $1,391,495,522 | $1,394,544,777 | +$3,049,255 | +0.22% |
| Netflix Inc. (NFLX) | Equity | -10.40% | 198,924 | 1.38% | $1,339.13 | $1,264.23 | $266,385,096 | $251,485,689 | -$14,899,407 | -5.59% |
| Sap Se (SAP) | Equity | +5.15% | 68,696 | 0.11% | $304.10 | $270.78 | $20,890,454 | $18,601,159 | -$2,289,295 | -10.96% |
| Salesforce Inc. (CRM) | Equity | +30.06% | 2,116,254 | 2.98% | $272.69 | $252.20 | $577,081,303 | $533,719,259 | -$43,362,044 | -7.51% |
| Servicenow Inc. (NOW) | Equity | -10.59% | 646,866 | 3.43% | $1,028.08 | $933.77 | $665,029,997 | $604,020,830 | -$61,009,167 | -9.17% |
| The Sherwin-Williams Company (SHW) | Equity | 0% | 583 | 0.00% | $343.36 | $360.30 | $200,179 | $210,055 | +$9,876 | +4.93% |
| Steris PLC (STE) | Equity | -5.03% | 1,249,802 | 1.55% | $240.22 | $247.95 | $300,227,437 | $309,888,406 | +$9,660,969 | +3.22% |
| Synopsys Inc. (SNPS) | Equity | -1.79% | 1,547,468 | 4.10% | $512.68 | $603.51 | $793,355,895 | $933,909,318 | +$140,553,423 | +17.72% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | -2.78% | 539,358 | 0.63% | $226.49 | $251.74 | $122,159,194 | $135,779,062 | +$13,619,868 | +11.15% |
| Unilever PLC (UL) | Equity | +164.24% | 440,108 | 0.14% | $61.17 | $62.96 | $26,921,406 | $27,706,999 | +$785,593 | +2.92% |
| UnitedHealth Group Inc. (UNH) | Equity | -15.01% | 1,392,146 | 2.24% | $311.97 | $346.42 | $434,307,787 | $482,267,217 | +$47,959,430 | +11.04% |
| Workday Inc. (WDAY) | Equity | -19.54% | 1,495,322 | 1.85% | $240.00 | $231.58 | $358,877,280 | $346,286,669 | -$12,590,611 | -3.51% |
| Ishares Russell 1000 Growth ETF (IWF) | Equity | -7.04% | 17,256 | 0.04% | $424.58 | $452.32 | $7,326,552 | $7,805,148 | +$478,596 | +6.53% |
| The Cooper Companies Inc. (COO) | Equity | +100% | 3,385,059 | 1.24% | $71.16 | $68.06 | $240,880,799 | $230,370,190 | -$10,510,609 | -4.36% |
| Danaher Corp. (DHR) | Equity | -3.35% | 2,438,553 | 2.49% | $197.54 | $193.55 | $481,711,760 | $471,981,933 | -$9,729,827 | -2.02% |
| Ecolab Inc. (ECL) | Equity | -1.46% | 698,812 | 0.97% | $269.44 | $271.10 | $188,287,906 | $189,447,933 | +$1,160,027 | +0.62% |
| Grab Holdings Limited (GRAB) | Equity | +54.55% | 2,103,571 | 0.05% | $5.03 | $5.28 | $10,580,962 | $11,106,855 | +$525,893 | +4.97% |
| HDFC Bank Limited (HDB) | Equity | -5.60% | 7,366,683 | 2.92% | $76.67 | $35.14 | $564,803,586 | $258,865,241 | -$305,938,345 | -54.17% |
| Novo Nordisk As (NVO) | Equity | +11.71% | 6,192,636 | 2.21% | $69.02 | $53.98 | $427,415,737 | $334,247,528 | -$93,168,209 | -21.80% |
| Nvidia Corp. (NVDA) | Equity | -8.44% | 6,534,572 | 5.33% | $157.99 | $169.36 | $1,032,397,030 | $1,106,662,441 | +$74,265,411 | +7.19% |
| S&P Global Inc. (SPGI) | Equity | -1.70% | 1,509,793 | 4.11% | $527.29 | $547.31 | $796,098,751 | $826,324,807 | +$30,226,056 | +3.80% |
| Shopify Inc. (SHOP) | Equity | +11.80% | 128,662 | 0.08% | $115.35 | $143.04 | $14,841,162 | $18,403,812 | +$3,562,650 | +24.01% |
| Starbucks Corp. (SBUX) | Equity | -99.83% | 3,272 | 0.00% | $91.63 | $83.45 | $299,813 | $273,048 | -$26,765 | -8.93% |
| Tencent Music Entertainment Group (TME) | Equity | -13.46% | 511,933 | 0.05% | $19.49 | $25.32 | $9,977,575 | $12,959,584 | +$2,982,009 | +29.89% |
| Thermo Fisher Scientific Inc. (TMO) | Equity | -99.86% | 881 | 0.00% | $405.46 | $483.89 | $357,210 | $426,303 | +$69,093 | +19.34% |
| Universal Music Gro Unsp Adr | Equity | +16.24% | 737,214 | 0.06% | $16.18 | $0.00 | $11,928,123 | $0 | -$11,928,123 | -100% |
| Visa Inc. (V) | Equity | -11.73% | 2,903,722 | 5.32% | $355.05 | $344.24 | $1,030,966,497 | $999,562,743 | -$31,403,754 | -3.05% |
| Waste Connections Inc. (WCN) | Equity | -2.13% | 90,907 | 0.09% | $186.72 | $177.74 | $16,974,155 | $16,157,810 | -$816,345 | -4.81% |
| Waste Management Inc. (WM) | Equity | +55.50% | 2,897,636 | 3.42% | $228.82 | $218.90 | $663,037,070 | $634,292,520 | -$28,744,550 | -4.34% |
| XP Inc. (XP) | Equity | -32.28% | 455,107 | 0.05% | $20.20 | $18.28 | $9,193,161 | $8,317,080 | -$876,081 | -9.53% |
| Yum! Brands Inc. (YUM) | Equity | -25.56% | 2,630,770 | 2.01% | $148.18 | $145.93 | $389,827,499 | $383,908,266 | -$5,919,233 | -1.52% |