Bellecapital International Ltd.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 19, 2024), Bellecapital International Ltd. reported 145 stock positions worth $465.2 million. Its top holding was Microsoft (MSFT) at 5.5% of the portfolio, followed by Apple (AAPL, 5.0%) and Costco Wholesale (COST, 4.6%). Compared with Q1 2024, it opened 7 new positions, sold out of 18, added to 38 and reduced 40. The biggest buy was a new position in Xometry Class A (XMTR) and the biggest sale Coca-Cola (KO, shares −91%).

Most Recent 13F
Q2 2026
Location
ZURICH, V8
CIK
0001600152
Portfolio Value
$465.2M (Q2 2024)
SEC Filing
0001600152-24-000003 ↗ filed Jul 19, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $447.0M Q1 2024 Q2 2024: $465.2M $465.2M Q2 2024 Q3 2024: $499.2M Q3 2024 Q4 2024: $559.8M Q4 2024 Q1 2025: $500.7M Q1 2025 Q2 2025: $559.5M Q2 2025 Q3 2025: $616.8M Q3 2025 Q4 2025: $562.2M Q4 2025 Q1 2026: $554.3M Q1 2026 Q2 2026: $625.4M Q2 2026

Holdings 145 stocks · $465.2M
MSFT Microsoft Corp. 5.53% 57,516 $25.7M Reduce -0.2%
AAPL Apple Inc. 5.03% 111,070 $23.4M Reduce -3.2%
COST Costco Wholesale Corp. 4.63% 25,319 $21.5M Reduce -1.8%
GOOGL Alphabet Inc. Class A 4.47% 114,266 $20.8M Add +0.2%
ADBE Adobe Inc. 4.35% 36,463 $20.3M Add +4.4%
WMT Walmart Inc. 4.16% 285,808 $19.4M Reduce -2.5%
ANET Arista Networks Inc. 3.65% 48,399 $17.0M Add +0.5%
AMD Advanced Micro Devices 3.60% 103,129 $16.7M Add +12.7%
MELI MercadoLibre Inc. 3.46% 9,787 $16.1M Add +0.8%
BKNG Booking Holdings Inc. 3.19% 3,752 $14.9M Add +0.2%
REGN Regeneron Pharmaceuticals 3.02% 13,372 $14.1M Add +1.5%
SPGI S&P Global Inc. 2.56% 26,736 $11.9M Reduce -1.4%
FISV Fiserv Inc. 2.33% 72,772 $10.8M Reduce -1.9%
ABBV Abbvie Inc. 2.13% 57,718 $9.9M Add +3.5%
GOOG Alphabet Inc. Class C 2.09% 53,125 $9.7M Reduce -2.6%
ZTS Zoetis Inc. 1.97% 52,739 $9.1M Add +30.9%
AMZN Amazon.com Inc. 1.87% 45,130 $8.7M Add +0.2%
PG The Procter & Gamble Co. 1.81% 51,037 $8.4M Reduce -2.8%
FAST Fastenal Co. 1.81% 133,844 $8.4M Add +16.0%
CPRT Copart Inc. 1.81% 155,233 $8.4M Add +0.7%
TSCO Tractor Supply Company 1.80% 31,075 $8.4M Reduce -0.6%
UNH Unitedhealth Group Inc. 1.63% 14,891 $7.6M Add +3.7%
XMTR Xometry Inc. Class A 1.35% 543,347 $6.3M New
BRK.A Berkshire Hathaway Inc. Class A 1.32% 10 $6.1M No change
ADP Automatic Data Processing 1.25% 24,294 $5.8M Add +9.9%
GLD SPDR Gold Shares 1.13% 24,466 $5.3M Reduce -7.8%
TMO Thermo Fisher Scientific Inc. 1.13% 9,465 $5.2M Add +17.1%
IVOL Quadratic Int Rte Vol Infl H 1.08% 271,907 $5.0M Reduce -2.7%
SHOP Shopify Inc. Class A 1.08% 55,647 $5.0M Add +4.2%
PFE Pfizer Inc. 1.07% 177,799 $5.0M Add +160.0%
BRK.B Berkshire Hathaway Inc. Class B 1.01% 11,509 $4.7M No change
NVDA Nvidia Corp. 0.99% 37,470 $4.6M Reduce -2.5%
COO The Cooper Cos Inc. 0.88% 46,752 $4.1M Add +1.2%
MMM 3M Co. 0.84% 38,358 $3.9M Add +13.7%
GRMN Garmin Ltd. 0.76% 21,806 $3.6M No change
NFLX Netflix Inc. 0.72% 4,959 $3.3M Reduce -0.4%
CHD Church & Dwight Co. Inc. 0.72% 32,132 $3.3M Add +0.5%
META Meta Platforms Inc. Class A 0.68% 6,260 $3.2M Add +21.1%
CSCO Cisco Systems Inc. 0.60% 58,915 $2.8M Add +291.7%
LLY Eli Lilly & Co. 0.60% 3,088 $2.8M Reduce -19.1%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.54% 32,457 $2.5M Reduce -9.5%
PAGS Pagseguro Digital Ltd. Class A 0.53% 208,930 $2.4M Reduce -1.0%
F Ford Motor Co. filed as FORD MTR CO DEL 0.47% 173,602 $2.2M Reduce -12.8%
SBUX Starbucks Corp. 0.43% 25,568 $2.0M Add +2.5%
IBIT iShares Bitcoin Trust ETF 0.41% 56,033 $1.9M Add +96.3%
ARKG ARK Genomic Revolution ETF 0.38% 74,833 $1.8M Add +15.6%
PYPL PayPal Holdings Inc. 0.37% 29,441 $1.7M Add +16.3%
HYS PIMCO 0-5 Year H/Y Corp. Bond 0.34% 17,276 $1.6M Reduce -36.3%
CVX Chevron Corp. 0.32% 9,584 $1.5M Add +195.2%
TSM Taiwan Semiconductor-SP ADR 0.32% 8,614 $1.5M Reduce -0.7%
T AT&T Inc. 0.32% 77,119 $1.5M Reduce -5.6%
VZ Verizon Communications Inc. 0.31% 34,899 $1.4M Add +7.1%
ZM Zoom Communications Inc. filed as ZOOM VIDEO COMMUNICATIONS IN 0.31% 24,113 $1.4M Add +89.2%
DOLE Dole PLC 0.30% 114,000 $1.4M No change
FSS Federal Signal Corp. 0.28% 15,841 $1.3M No change
DUK Duke Energy Corp. 0.28% 13,072 $1.3M Reduce -19.1%
FWONK Liberty Media Corp. Class C 0.27% 17,725 $1.3M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.26% 2,191 $1.2M Add +4.5%
JNJ Johnson & Johnson 0.25% 7,871 $1.2M Reduce -0.5%
TT Trane Technologies PLC 0.24% 3,355 $1.1M Reduce -19.1%
BCC Boise Cascade Co. 0.22% 8,670 $1.0M No change
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.22% 749 $1.0M Reduce -10.8%
MO Altria Group Inc. 0.22% 22,494 $1.0M Add +191.4%
L Loews Corp. 0.21% 13,243 $990K No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.21% 9,173 $983K No change
ISRG Intuitive Surgical Inc. 0.21% 2,201 $979K No change
AMGN Amgen Inc. 0.21% 3,130 $978K No change
BABA Alibaba Group Holding-SP ADR 0.20% 12,877 $927K Reduce -0.1%
TSLA Tesla Inc. 0.20% 4,641 $918K Add +3.8%
TMHC Taylor Morrison Home Corp. 0.19% 16,178 $897K No change
SHY iShares 1-3 Year Treasury Bo 0.19% 10,671 $871K No change
PFF iShares Preferred & Income S 0.18% 27,000 $852K No change
GILD Gilead Sciences Inc. 0.18% 11,955 $820K Add +90.4%
ABM Abm Industries Inc. 0.17% 15,899 $804K No change
KO The Coca-Cola Co. 0.17% 12,500 $796K Reduce -91.0%
PGR Progressive Corp. 0.16% 3,676 $764K No change
V Visa Inc. Class A 0.16% 2,889 $758K No change
TER Teradyne Inc. 0.16% 5,000 $741K No change
AWK American Water Works Co. Inc. 0.16% 5,669 $732K No change
EQIX Equinix Inc. 0.15% 947 $717K No change
MCD McDonald's Corp. 0.15% 2,780 $708K Reduce -1.4%
HSY The Hershey Co. 0.15% 3,735 $687K Reduce -13.9%
QQQ Invesco QQQ Trust Series 1 0.14% 1,404 $673K Add +24.0%
AMAT Applied Materials Inc. 0.14% 2,766 $653K Reduce -18.5%
CW Curtiss-Wright Corp. 0.14% 2,377 $644K No change
AMT American Tower Corp. 0.14% 3,267 $635K Reduce -36.7%
CR Crane Co. 0.13% 4,295 $623K Reduce -8.7%
IVV iShares Core S&P 500 ETF 0.13% 1,127 $617K Reduce -11.1%
NEE Nextera Energy Inc. 0.13% 8,637 $612K Reduce -45.8%
EW Edwards Lifesciences Corp. 0.13% 6,615 $611K No change
XLK SS Technology Select Sector 0.13% 2,645 $598K No change
UNP Union Pacific Corp. 0.12% 2,438 $552K No change
XOM Exxon Mobil Corp. 0.12% 4,759 $548K Add +5.1%
ASML ASML Holding NV-NY Reg SHS 0.11% 520 $532K No change
OEF iShares S&P 100 ETF 0.11% 1,996 $528K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.11% 3,021 $522K Reduce -44.6%
ORCL Oracle Corp. 0.11% 3,499 $494K No change
EFA iShares MSCI Eafe ETF 0.10% 6,166 $483K No change
SPSB SS SPDR P St C Corp. ETF 0.10% 15,863 $471K No change
CNM Core & Main Inc. Class A 0.10% 9,439 $462K Reduce -13.1%

Show all 145 holdings

Other holdings (4): bonds, preferreds, convertibles and warrants · $6.3M (not counted above)
SecurityClassShares / PrincipalValueChange
BLACKLINE INC (BL 0 03/15/26) NOTE 3/1 · principal 3,631,000$3.3MNo change
PDD HOLDINGS INC (PDD 0 12/01/25) NOTE 12/0 · principal 1,680,000$1.7MNo change
WIX LTD (WIX 0 08/15/25) NOTE 8/1 · principal 1,324,000$1.2MReduce -18.5%
FASTLY INC (FSLY 0 03/15/26) NOTE 3/1 · principal 150,000$135KNo change

Total filed on the 13F, all lines: $471.6M.

Portfolio Sells Q1 2024 → Q2 2024
KO The Coca-Cola Co. Reduce -91.0% 0.17% −1.72
RSP Invesco S&P 500 Equal Weight Sold out 0.00% −1.36
NVS Novartis AG-Sponsored ADR Reduce -86.9% 0.00% −0.33
FISV Fiserv Inc. Reduce -1.9% 2.33% −0.32
HYS PIMCO 0-5 Year H/Y Corp. Bond Reduce -36.3% 0.34% −0.22
DG Dollar General Corp. Reduce -76.2% 0.05% −0.20
PAGS Pagseguro Digital Ltd. Class A Reduce -1.0% 0.53% −0.15
BOXX Alpha Architect 1-3 MNTH Box Sold out 0.00% −0.12
F Ford Motor Co. Reduce -12.8% 0.47% −0.12
VEA Vanguard Ftse Developed ETF Sold out 0.00% −0.12
IBM Intl Business Machines Corp. Reduce -44.6% 0.11% −0.12
MDT Medtronic PLC Sold out 0.00% −0.12
IVOL Quadratic Int Rte Vol Infl H Reduce -2.7% 1.08% −0.10
MSTR Strategy Inc. Reduce -10.8% 0.22% −0.10
PG The Procter & Gamble Co. Reduce -2.8% 1.81% −0.10
NEE Nextera Energy Inc. Reduce -45.8% 0.13% −0.10
AMT American Tower Corp. Reduce -36.7% 0.14% −0.09
GLD SPDR Gold Shares Reduce -7.8% 1.13% −0.09
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -9.5% 0.54% −0.09
VOO Vanguard S&P 500 ETF Sold out 0.00% −0.07
AVGO Broadcom Inc. Sold out 0.00% −0.07
MTZ Mastec Inc. Sold out 0.00% −0.07
DUK Duke Energy Corp. Reduce -19.1% 0.28% −0.07
VYM Vanguard High DVD Yield ETF Sold out 0.00% −0.06
VWO Vanguard Ftse Emerging Marke Sold out 0.00% −0.06
LLY Eli Lilly & Co. Reduce -19.1% 0.60% −0.06
MEDP Medpace Holdings Inc. Sold out 0.00% −0.06
BRBR Bellring Brands Inc. Sold out 0.00% −0.06
ARCB Arcbest Corp. Sold out 0.00% −0.06
IGIB iShares 5-10Y Inv Grade Corp. Reduce -35.2% 0.09% −0.06
NVT Nvent Electric PLC Sold out 0.00% −0.06
AWR American States Water Co. Sold out 0.00% −0.05
CI The Cigna Group Sold out 0.00% −0.05
RS Reliance Inc. Sold out 0.00% −0.05
TT Trane Technologies PLC Reduce -19.1% 0.24% −0.04
HSY The Hershey Co. Reduce -13.9% 0.15% −0.04
CNM Core & Main Inc. Class A Reduce -13.1% 0.10% −0.04
MKC McCormick & Co.-Non VTG SHRS Reduce -32.3% 0.05% −0.04
JNJ Johnson & Johnson Reduce -0.5% 0.25% −0.03
CIFR Cipher Digital Inc. Sold out 0.00% −0.03
TSCO Tractor Supply Company Reduce -0.6% 1.80% −0.03
MCD McDonald's Corp. Reduce -1.4% 0.15% −0.03
SPGI S&P Global Inc. Reduce -1.4% 2.56% −0.02
IVV iShares Core S&P 500 ETF Reduce -11.1% 0.13% −0.02
AMAT Applied Materials Inc. Reduce -18.5% 0.14% −0.02
BITF Bitfarms Ltd./Canada Sold out 0.00% −0.02
USIG iShares Broad Usd Investment Reduce -16.4% 0.04% −0.01
BABA Alibaba Group Holding-SP ADR Reduce -0.1% 0.20% −0.01
CR Crane Co. Reduce -8.7% 0.13% −0.01
T AT&T Inc. Reduce -5.6% 0.32% −0.01

Portfolio Buys Q1 2024 → Q2 2024
XMTR Xometry Inc. Class A New 1.35% +1.35
PFE Pfizer Inc. Add +160.0% 1.07% +0.64
GOOGL Alphabet Inc. Class A Add +0.2% 4.47% +0.62
ANET Arista Networks Inc. Add +0.5% 3.65% +0.52
ZTS Zoetis Inc. Add +30.9% 1.97% +0.44
CSCO Cisco Systems Inc. Add +291.7% 0.60% +0.43
ADBE Adobe Inc. Add +4.4% 4.35% +0.41
CVX Chevron Corp. Add +195.2% 0.32% +0.21
REGN Regeneron Pharmaceuticals Add +1.5% 3.02% +0.18
MELI MercadoLibre Inc. Add +0.8% 3.46% +0.17
MMM 3M Co. Add +13.7% 0.84% +0.17
BKNG Booking Holdings Inc. Add +0.2% 3.19% +0.16
IBIT iShares Bitcoin Trust ETF Add +96.3% 0.41% +0.15
MO Altria Group Inc. Add +191.4% 0.22% +0.14
ZM Zoom Communications Inc. Add +89.2% 0.31% +0.12
META Meta Platforms Inc. Class A Add +21.1% 0.68% +0.12
TROW T Rowe Price Group Inc. New 0.08% +0.08
TMO Thermo Fisher Scientific Inc. Add +17.1% 1.13% +0.07
GILD Gilead Sciences Inc. Add +90.4% 0.18% +0.07
PEP Pepsico Inc. New 0.07% +0.07
AMZN Amazon.com Inc. Add +0.2% 1.87% +0.06
ULS Ul Solutions Inc. Class A New 0.04% +0.04
IXN iShares Global Tech ETF New 0.04% +0.04
KMB Kimberly-Clark Corp. New 0.04% +0.04
INTC Intel Corp. New 0.04% +0.04
UNH Unitedhealth Group Inc. Add +3.7% 1.63% +0.04
QQQ Invesco QQQ Trust Series 1 Add +24.0% 0.14% +0.03
TSLA Tesla Inc. Add +3.8% 0.20% +0.02
ADP Automatic Data Processing Add +9.9% 1.25% +0.01
SPY SS SPDR S&P 500 ETF Trust-US Add +4.5% 0.26% +0.01
EWL iShares MSCI Switzerland ETF Add +25.6% 0.06% +0.01
VZ Verizon Communications Inc. Add +7.1% 0.31% +0.00
XOM Exxon Mobil Corp. Add +5.1% 0.12% 0.00
HD Home Depot Inc. Add +9.6% 0.09% −0.01
CRM Salesforce Inc. Add +11.0% 0.08% −0.01
PYPL PayPal Holdings Inc. Add +16.3% 0.37% −0.01
CHD Church & Dwight Co. Inc. Add +0.5% 0.72% −0.03
ARKG ARK Genomic Revolution ETF Add +15.6% 0.38% −0.04
SBUX Starbucks Corp. Add +2.5% 0.43% −0.08
AMD Advanced Micro Devices Add +12.7% 3.60% −0.10
ABBV Abbvie Inc. Add +3.5% 2.13% −0.14
COO The Cooper Cos Inc. Add +1.2% 0.88% −0.17
SHOP Shopify Inc. Class A Add +4.2% 1.08% −0.17
FAST Fastenal Co. Add +16.0% 1.81% −0.18
CPRT Copart Inc. Add +0.7% 1.81% −0.19

Notes & Other Activity Q1 2024 → Q2 2024
WIX LTD (WIX 0 08/15/25) NOTE 8/1 · principal Reduce -18.5% 1,324,000 $1.2M
ALTERYX INC (AYX 0.5 08/01/24) NOTE 0.500% 8/0 · principal Sold out 150,000 $149Kbefore exit
NIO INC (NIO 0.5 02/01/27) NOTE 0.500% 2/0 · principal Sold out 13,000 $12Kbefore exit
WAYFAIR INC (W 0.625 10/01/25) NOTE 0.625%10/0 · principal Sold out 12,000 $11Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 123$625.4MGOOGL, AMD, AAPL, TSM, MSFT
Q1 2026Amended 117$554.3MGOOGL, TSM, AAPL, AMD, MSFT
Q4 2025 128$562.2MGOOGL, AAPL, AMD, TSM, MSFT
Q3 2025 131$616.8MMSFT, ANET, GOOGL, TSM, AAPL
Q2 2025 133$559.5MTRS, MSFT, MELI, TSM, AAPL
Q1 2025 133$500.7MTRS, AAPL, MSFT, COST, WMT
Q4 2024 146$559.8MAAPL, TRS, MSFT, WMT, GOOGL
Q3 2024 156$499.2MAAPL, MSFT, WMT, COST, MELI
Q2 2024 145$465.2MMSFT, AAPL, COST, GOOGL, ADBE
Q1 2024 156$447.0MMSFT, AAPL, COST, WMT, ADBE