Bellecapital International Ltd.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 3, 2024), Bellecapital International Ltd. reported 156 stock positions worth $447.0 million. Its top holding was Microsoft (MSFT) at 5.4% of the portfolio, followed by Apple (AAPL, 4.4%) and Costco Wholesale (COST, 4.2%). Compared with Q4 2023, it opened 15 new positions, sold out of 9, added to 34 and reduced 43. The biggest buy was Walmart (WMT, shares +2%) and the biggest sale Invesco S&P 500 Equal Weight (RSP, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- ZURICH, V8
- CIK
- 0001600152
- Portfolio Value
- $447.0M (Q1 2024)
- SEC Filing
- 0001600152-24-000002 ↗ filed May 3, 2024
Holdings Value
Holdings 156 stocks · $447.0M
| MSFT Microsoft Corp. | 5.43% | 57,656 | $24.3M | Reduce -10.4% |
| AAPL Apple Inc. | 4.40% | 114,763 | $19.7M | Reduce -1.9% |
| COST Costco Wholesale Corp. | 4.22% | 25,769 | $18.9M | Add +1.7% |
| WMT Walmart Inc. | 3.95% | 293,237 | $17.6M | Add +2.3% |
| ADBE Adobe Inc. | 3.94% | 34,912 | $17.6M | Add +2.0% |
| GOOGL Alphabet Inc. Class A | 3.85% | 114,004 | $17.2M | Reduce -15.9% |
| AMD Advanced Micro Devices | 3.70% | 91,536 | $16.5M | Reduce -5.4% |
| MELI MercadoLibre Inc. | 3.28% | 9,705 | $14.7M | Add +4.9% |
| ANET Arista Networks Inc. | 3.13% | 48,175 | $14.0M | Reduce -22.0% |
| BKNG Booking Holdings Inc. | 3.04% | 3,745 | $13.6M | Reduce -0.8% |
| REGN Regeneron Pharmaceuticals | 2.84% | 13,180 | $12.7M | Add +1.2% |
| FISV Fiserv Inc. | 2.65% | 74,169 | $11.9M | Reduce -1.6% |
| SPGI S&P Global Inc. | 2.58% | 27,117 | $11.5M | Reduce -1.9% |
| ABBV Abbvie Inc. | 2.27% | 55,759 | $10.2M | Reduce -8.2% |
| CPRT Copart Inc. | 2.00% | 154,236 | $8.9M | Add +2.1% |
| FAST Fastenal Co. | 1.99% | 115,424 | $8.9M | Reduce -1.5% |
| PG The Procter & Gamble Co. | 1.91% | 52,499 | $8.5M | Add +0.4% |
| KO The Coca-Cola Co. | 1.89% | 138,411 | $8.5M | No change |
| GOOG Alphabet Inc. Class C | 1.86% | 54,557 | $8.3M | Reduce -0.5% |
| TSCO Tractor Supply Company | 1.83% | 31,248 | $8.2M | Reduce -0.2% |
| AMZN Amazon.com Inc. | 1.82% | 45,030 | $8.1M | Reduce -21.4% |
| UNH Unitedhealth Group Inc. | 1.59% | 14,355 | $7.1M | Add +3.9% |
| ZTS Zoetis Inc. | 1.52% | 40,275 | $6.8M | Add +3.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.42% | 10 | $6.3M | No change |
| RSP Invesco S&P 500 Equal Weight | 1.36% | 36,000 | $6.1M | Reduce -46.3% |
| SHOP Shopify Inc. Class A | 1.25% | 53,414 | $5.6M | Add +3.6% |
| ADP Automatic Data Processing | 1.24% | 22,108 | $5.5M | Add +1.7% |
| GLD SPDR Gold Shares | 1.22% | 26,534 | $5.5M | Reduce -1.8% |
| IVOL Quadratic Int Rte Vol Infl H | 1.18% | 279,411 | $5.3M | Add +9.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.08% | 11,509 | $4.8M | No change |
| TMO Thermo Fisher Scientific Inc. | 1.05% | 8,081 | $4.7M | Add +9.5% |
| COO The Cooper Cos Inc. | 1.05% | 46,210 | $4.7M | Reduce -5.5% |
| NVDA Nvidia Corp. | 0.78% | 3,842 | $3.5M | Reduce -35.6% |
| CHD Church & Dwight Co. Inc. | 0.75% | 31,963 | $3.3M | Add +1.7% |
| GRMN Garmin Ltd. | 0.73% | 21,806 | $3.2M | Add +0.2% |
| NFLX Netflix Inc. | 0.68% | 4,981 | $3.0M | Reduce -39.6% |
| PAGS Pagseguro Digital Ltd. Class A | 0.67% | 211,085 | $3.0M | Add +6.7% |
| MMM 3M Co. | 0.67% | 33,737 | $3.0M | Add +28.4% |
| LLY Eli Lilly & Co. | 0.66% | 3,816 | $3.0M | No change |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.62% | 35,852 | $2.8M | Reduce -7.3% |
| F Ford Motor Co. filed as FORD MTR CO DEL | 0.59% | 198,971 | $2.6M | Add +1.8% |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | 0.57% | 27,123 | $2.5M | Reduce -12.4% |
| META Meta Platforms Inc. Class A | 0.56% | 5,169 | $2.5M | Reduce -44.4% |
| SBUX Starbucks Corp. | 0.51% | 24,950 | $2.3M | Reduce -7.8% |
| PFE Pfizer Inc. | 0.42% | 68,378 | $1.9M | Add +48.3% |
| ARKG ARK Genomic Revolution ETF | 0.42% | 64,733 | $1.9M | Add +5.0% |
| PYPL PayPal Holdings Inc. | 0.38% | 25,322 | $1.7M | Add +16.8% |
| DUK Duke Energy Corp. | 0.35% | 16,149 | $1.6M | Add +16.8% |
| NVS Novartis AG-Sponsored ADR | 0.33% | 917 | $1.5M | No change |
| T AT&T Inc. | 0.32% | 81,714 | $1.4M | Add +0.2% |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.32% | 840 | $1.4M | New |
| VZ Verizon Communications Inc. | 0.31% | 32,582 | $1.4M | No change |
| DOLE Dole PLC | 0.30% | 114,000 | $1.4M | No change |
| FSS Federal Signal Corp. | 0.30% | 15,841 | $1.3M | No change |
| BCC Boise Cascade Co. | 0.30% | 8,670 | $1.3M | No change |
| JNJ Johnson & Johnson | 0.28% | 7,912 | $1.3M | Add +3.1% |
| TT Trane Technologies PLC | 0.28% | 4,145 | $1.2M | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.26% | 8,674 | $1.2M | Add +16.4% |
| FWONK Liberty Media Corp. Class C | 0.26% | 17,725 | $1.2M | No change |
| IBIT iShares Bitcoin Trust ETF | 0.26% | 28,550 | $1.2M | New |
| DG Dollar General Corp. | 0.25% | 7,121 | $1.1M | Reduce -14.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.25% | 2,097 | $1.1M | Add +0.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.23% | 5,452 | $1.0M | Reduce -14.0% |
| L Loews Corp. | 0.23% | 13,243 | $1.0M | New |
| AMT American Tower Corp. | 0.23% | 5,163 | $1.0M | No change |
| NEE Nextera Energy Inc. | 0.23% | 15,922 | $1.0M | Reduce -5.7% |
| TMHC Taylor Morrison Home Corp. | 0.23% | 16,178 | $1.0M | No change |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.22% | 9,173 | $999K | No change |
| BABA Alibaba Group Holding-SP ADR | 0.21% | 12,884 | $932K | Reduce -3.5% |
| AMGN Amgen Inc. | 0.20% | 3,130 | $890K | Reduce -2.8% |
| ISRG Intuitive Surgical Inc. | 0.20% | 2,201 | $878K | Reduce -1.9% |
| SHY iShares 1-3 Year Treasury Bo | 0.20% | 10,671 | $873K | Reduce -1.8% |
| PFF iShares Preferred & Income S | 0.19% | 27,000 | $870K | No change |
| HSY The Hershey Co. | 0.19% | 4,336 | $843K | No change |
| ZM Zoom Communications Inc. filed as ZOOM VIDEO COMMUNICATIONS IN | 0.19% | 12,744 | $833K | Add +6.5% |
| V Visa Inc. Class A | 0.18% | 2,889 | $806K | No change |
| MCD McDonald's Corp. | 0.18% | 2,819 | $795K | Reduce -5.1% |
| TSLA Tesla Inc. | 0.18% | 4,473 | $786K | Add +57.8% |
| EQIX Equinix Inc. | 0.17% | 947 | $782K | No change |
| PGR Progressive Corp. | 0.17% | 3,676 | $760K | No change |
| CSCO Cisco Systems Inc. | 0.17% | 15,040 | $751K | Add +25.8% |
| ABM Abm Industries Inc. | 0.16% | 15,899 | $709K | No change |
| AMAT Applied Materials Inc. | 0.16% | 3,395 | $700K | Reduce -26.9% |
| AWK American Water Works Co. Inc. | 0.15% | 5,669 | $693K | No change |
| IVV iShares Core S&P 500 ETF | 0.15% | 1,267 | $666K | Reduce -27.5% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.15% | 12,745 | $658K | No change |
| CR Crane Co. | 0.14% | 4,703 | $636K | No change |
| EW Edwards Lifesciences Corp. | 0.14% | 6,615 | $632K | No change |
| CNM Core & Main Inc. Class A | 0.14% | 10,865 | $622K | No change |
| CW Curtiss-Wright Corp. | 0.14% | 2,377 | $608K | No change |
| UNP Union Pacific Corp. | 0.13% | 2,438 | $600K | New |
| TER Teradyne Inc. | 0.13% | 5,000 | $564K | No change |
| BOXX Alpha Architect 1-3 MNTH Box | 0.12% | 5,230 | $557K | New |
| XLK SS Technology Select Sector | 0.12% | 2,645 | $551K | Reduce -10.8% |
| VEA Vanguard Ftse Developed ETF | 0.12% | 10,942 | $549K | No change |
| MDT Medtronic PLC | 0.12% | 6,058 | $528K | Reduce -4.1% |
| XOM Exxon Mobil Corp. | 0.12% | 4,528 | $526K | No change |
| CVX Chevron Corp. | 0.11% | 3,247 | $512K | Add +61.3% |
| ASML ASML Holding NV-NY Reg SHS | 0.11% | 520 | $505K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.11% | 1,132 | $503K | No change |
Other holdings (7): bonds, preferreds, convertibles and warrants · $6.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 3,631,000 | $3.3M | No change |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | 1,680,000 | $1.6M | No change |
| WIX LTD (WIX 0 08/15/25) | NOTE 8/1 · principal | 1,624,000 | $1.5M | No change |
| ALTERYX INC (AYX 0.5 08/01/24) | NOTE 0.500% 8/0 · principal | 150,000 | $149K | No change |
| FASTLY INC (FSLY 0 03/15/26) | NOTE 3/1 · principal | 150,000 | $137K | No change |
| NIO INC (NIO 0.5 02/01/27) | NOTE 0.500% 2/0 · principal | 13,000 | $12K | No change |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | 12,000 | $11K | No change |
Total filed on the 13F, all lines: $453.7M.
Portfolio Sells Q4 2023 → Q1 2024
| RSP Invesco S&P 500 Equal Weight | Reduce -46.3% | 1.36% | −1.07 |
| INTC Intel Corp. | Sold out | 0.00% | −0.80 |
| AAPL Apple Inc. | Reduce -1.9% | 4.40% | −0.77 |
| GOOGL Alphabet Inc. Class A | Reduce -15.9% | 3.85% | −0.50 |
| NFLX Netflix Inc. | Reduce -39.6% | 0.68% | −0.25 |
| ANET Arista Networks Inc. | Reduce -22.0% | 3.13% | −0.22 |
| SPGI S&P Global Inc. | Reduce -1.9% | 2.58% | −0.22 |
| META Meta Platforms Inc. Class A | Reduce -44.4% | 0.56% | −0.20 |
| AMZN Amazon.com Inc. | Reduce -21.4% | 1.82% | −0.18 |
| MSFT Microsoft Corp. | Reduce -10.4% | 5.43% | −0.14 |
| BA The Boeing Co. | Sold out | 0.00% | −0.10 |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | Reduce -12.4% | 0.57% | −0.10 |
| SBUX Starbucks Corp. | Reduce -7.8% | 0.51% | −0.09 |
| ACN Accenture PLC Class A | Sold out | 0.00% | −0.08 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −0.07 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -7.3% | 0.62% | −0.06 |
| CLSK Cleanspark Inc. | Sold out | 0.00% | −0.05 |
| FAZE Faze Holdings Inc. | Sold out | 0.00% | −0.05 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.05 |
| IVV iShares Core S&P 500 ETF | Reduce -27.5% | 0.15% | −0.04 |
| BKNG Booking Holdings Inc. | Reduce -0.8% | 3.04% | −0.04 |
| BABA Alibaba Group Holding-SP ADR | Reduce -3.5% | 0.21% | −0.03 |
| MCD McDonald's Corp. | Reduce -5.1% | 0.18% | −0.02 |
| NIO Nio Inc. - ADR | Reduce -9.5% | 0.02% | −0.02 |
| ZTO Zto Express Cayman Inc.-ADR | Reduce -25.4% | 0.06% | −0.02 |
| DIREXION SHS ETF TR | Sold out | 0.00% | −0.02 |
| AMAT Applied Materials Inc. | Reduce -26.9% | 0.16% | −0.02 |
| COO The Cooper Cos Inc. | Reduce -5.5% | 1.05% | −0.01 |
| AMGN Amgen Inc. | Reduce -2.8% | 0.20% | −0.01 |
| DG Dollar General Corp. | Reduce -14.4% | 0.25% | −0.01 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -8.9% | 0.08% | −0.01 |
| SPSB SS SPDR P St C Corp. ETF | Reduce -7.1% | 0.11% | −0.01 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -1.8% | 0.20% | −0.01 |
| IEF iShares 7-10 Year Treasury B | Reduce -3.4% | 0.10% | −0.01 |
| NEE Nextera Energy Inc. | Reduce -5.7% | 0.23% | −0.01 |
| XLK SS Technology Select Sector | Reduce -10.8% | 0.12% | −0.01 |
| VGSH Vanguard Short-Term Treasury | Reduce -6.3% | 0.06% | −0.01 |
| AVGO Broadcom Inc. | Reduce -20.4% | 0.07% | −0.01 |
| IBM Intl Business Machines Corp. | Reduce -14.0% | 0.23% | −0.01 |
| EWL iShares MSCI Switzerland ETF | Reduce -2.9% | 0.05% | −0.00 |
| MDT Medtronic PLC | Reduce -4.1% | 0.12% | −0.00 |
| FTCHQ Farfetch Ltd. Class A | Sold out | 0.00% | −0.00 |
| VOO Vanguard S&P 500 ETF | Reduce -2.8% | 0.07% | +0.00 |
| ISRG Intuitive Surgical Inc. | Reduce -1.9% | 0.20% | +0.02 |
| GLD SPDR Gold Shares | Reduce -1.8% | 1.22% | +0.03 |
| GOOG Alphabet Inc. Class C | Reduce -0.5% | 1.86% | +0.08 |
| NVDA Nvidia Corp. | Reduce -35.6% | 0.78% | +0.10 |
| ABBV Abbvie Inc. | Reduce -8.2% | 2.27% | +0.11 |
| FAST Fastenal Co. | Reduce -1.5% | 1.99% | +0.25 |
| TSCO Tractor Supply Company | Reduce -0.2% | 1.83% | +0.28 |
Portfolio Buys Q4 2023 → Q1 2024
| WMT Walmart Inc. | Add +2.3% | 3.95% | +0.49 |
| COST Costco Wholesale Corp. | Add +1.7% | 4.22% | +0.38 |
| MSTR Strategy Inc. | New | 0.32% | +0.32 |
| CPRT Copart Inc. | Add +2.1% | 2.00% | +0.30 |
| IBIT iShares Bitcoin Trust ETF | New | 0.26% | +0.26 |
| L Loews Corp. | New | 0.23% | +0.23 |
| REGN Regeneron Pharmaceuticals | Add +1.2% | 2.84% | +0.21 |
| TMO Thermo Fisher Scientific Inc. | Add +9.5% | 1.05% | +0.15 |
| PG The Procter & Gamble Co. | Add +0.4% | 1.91% | +0.14 |
| UNP Union Pacific Corp. | New | 0.13% | +0.13 |
| BOXX Alpha Architect 1-3 MNTH Box | New | 0.12% | +0.12 |
| PFE Pfizer Inc. | Add +48.3% | 0.42% | +0.12 |
| PAGS Pagseguro Digital Ltd. Class A | Add +6.7% | 0.67% | +0.11 |
| TSM Taiwan Semiconductor-SP ADR | Add +16.4% | 0.26% | +0.09 |
| GRMN Garmin Ltd. | Add +0.2% | 0.73% | +0.08 |
| MO Altria Group Inc. | New | 0.08% | +0.08 |
| PYPL PayPal Holdings Inc. | Add +16.8% | 0.38% | +0.07 |
| ADP Automatic Data Processing | Add +1.7% | 1.24% | +0.07 |
| CHD Church & Dwight Co. Inc. | Add +1.7% | 0.75% | +0.06 |
| MEDP Medpace Holdings Inc. | New | 0.06% | +0.06 |
| NVT Nvent Electric PLC | New | 0.06% | +0.06 |
| UBER Uber Technologies Inc. | New | 0.05% | +0.05 |
| NOW ServiceNow Inc. | New | 0.05% | +0.05 |
| CI The Cigna Group | New | 0.05% | +0.05 |
| CMG Chipotle Mexican Grill Inc. | New | 0.05% | +0.05 |
| GAME Gamesquare Hldgs Inc. | New | 0.05% | +0.05 |
| RS Reliance Inc. | New | 0.05% | +0.05 |
| CVX Chevron Corp. | Add +61.3% | 0.11% | +0.05 |
| OKE Oneok Inc. | New | 0.05% | +0.05 |
| F Ford Motor Co. | Add +1.8% | 0.59% | +0.04 |
| DUK Duke Energy Corp. | Add +16.8% | 0.35% | +0.04 |
| SHOP Shopify Inc. Class A | Add +3.6% | 1.25% | +0.03 |
| CSCO Cisco Systems Inc. | Add +25.8% | 0.17% | +0.03 |
| ORCL Oracle Corp. | Add +8.2% | 0.10% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.9% | 0.25% | +0.02 |
| CIFR Cipher Digital Inc. | Add +99.6% | 0.03% | +0.02 |
| TSLA Tesla Inc. | Add +57.8% | 0.18% | +0.01 |
| GILD Gilead Sciences Inc. | Add +27.8% | 0.10% | +0.01 |
| MMM 3M Co. | Add +28.4% | 0.67% | +0.01 |
| T AT&T Inc. | Add +0.2% | 0.32% | +0.01 |
| JNJ Johnson & Johnson | Add +3.1% | 0.28% | +0.00 |
| BITF Bitfarms Ltd./Canada | Add +0.1% | 0.02% | −0.00 |
| ZM Zoom Communications Inc. | Add +6.5% | 0.19% | −0.01 |
| IVOL Quadratic Int Rte Vol Infl H | Add +9.2% | 1.18% | −0.03 |
| ARKG ARK Genomic Revolution ETF | Add +5.0% | 0.42% | −0.05 |
| MELI MercadoLibre Inc. | Add +4.9% | 3.28% | −0.06 |
| UNH Unitedhealth Group Inc. | Add +3.9% | 1.59% | −0.08 |
| ZTS Zoetis Inc. | Add +3.4% | 1.52% | −0.24 |
| ADBE Adobe Inc. | Add +2.0% | 3.94% | −0.75 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 123 | $625.4M | GOOGL, AMD, AAPL, TSM, MSFT |
| Q1 2026Amended | 117 | $554.3M | GOOGL, TSM, AAPL, AMD, MSFT |
| Q4 2025 | 128 | $562.2M | GOOGL, AAPL, AMD, TSM, MSFT |
| Q3 2025 | 131 | $616.8M | MSFT, ANET, GOOGL, TSM, AAPL |
| Q2 2025 | 133 | $559.5M | TRS, MSFT, MELI, TSM, AAPL |
| Q1 2025 | 133 | $500.7M | TRS, AAPL, MSFT, COST, WMT |
| Q4 2024 | 146 | $559.8M | AAPL, TRS, MSFT, WMT, GOOGL |
| Q3 2024 | 156 | $499.2M | AAPL, MSFT, WMT, COST, MELI |
| Q2 2024 | 145 | $465.2M | MSFT, AAPL, COST, GOOGL, ADBE |
| Q1 2024 | 156 | $447.0M | MSFT, AAPL, COST, WMT, ADBE |