Bellecapital International Ltd.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Bellecapital International Ltd. reported 128 stock positions worth $562.2 million. Its top holding was Alphabet Class A (GOOGL) at 6.8% of the portfolio, followed by Apple (AAPL, 5.6%) and Advanced Micro Devices (AMD, 4.9%). Compared with Q3 2025, it opened 11 new positions, sold out of 14, added to 36 and reduced 40. The biggest buy was Synopsys (SNPS, shares +1478%) and the biggest sale Arista Networks (ANET, shares −36%).
- Most Recent 13F
- Q2 2026
- Location
- ZURICH, V8
- CIK
- 0001600152
- Portfolio Value
- $562.2M (Q4 2025)
- SEC Filing
- 0001600152-26-000001 ↗ filed Feb 2, 2026
Holdings Value
Holdings 128 stocks · $562.2M
| GOOGL Alphabet Inc. Class A | 6.80% | 122,121 | $38.2M | Reduce -6.5% |
| AAPL Apple Inc. | 5.56% | 114,884 | $31.2M | Reduce -3.2% |
| AMD Advanced Micro Devices | 4.94% | 129,684 | $27.8M | Reduce -23.6% |
| TSM Taiwan Semiconductor-SP ADR | 4.92% | 91,102 | $27.7M | Reduce -18.7% |
| MSFT Microsoft Corp. | 4.66% | 54,138 | $26.2M | Reduce -17.8% |
| TRS Trimas Corp. | 4.32% | 685,855 | $24.3M | No change |
| ANET Arista Networks Inc. | 3.41% | 146,414 | $19.2M | Reduce -35.5% |
| WMT Walmart Inc. | 3.34% | 168,686 | $18.8M | Reduce -17.2% |
| REGN Regeneron Pharmaceuticals | 3.17% | 23,109 | $17.8M | Reduce -16.8% |
| BKNG Booking Holdings Inc. | 3.09% | 3,248 | $17.4M | Reduce -0.9% |
| MELI MercadoLibre Inc. | 3.03% | 8,449 | $17.0M | Reduce -19.2% |
| XMTR Xometry Inc. Class A | 3.02% | 285,900 | $17.0M | Reduce -44.4% |
| SNPS Synopsys Inc. | 2.97% | 35,563 | $16.7M | Add +1477.8% |
| COST Costco Wholesale Corp. | 2.72% | 17,740 | $15.3M | Reduce -25.2% |
| META Meta Platforms Inc. Class A | 2.72% | 23,145 | $15.3M | Add +193.1% |
| ABBV Abbvie Inc. | 2.63% | 64,754 | $14.8M | Reduce -1.6% |
| SPGI S&P Global Inc. | 2.63% | 28,307 | $14.8M | Reduce -12.9% |
| AMZN Amazon.com Inc. | 2.53% | 61,685 | $14.2M | Reduce -0.4% |
| ADBE Adobe Inc. | 2.24% | 36,055 | $12.6M | Reduce -31.6% |
| SHOP Shopify Inc. Class A | 2.19% | 76,626 | $12.3M | Reduce -5.2% |
| FAST Fastenal Co. | 1.98% | 277,137 | $11.1M | Reduce -1.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.88% | 14 | $10.6M | Reduce -22.2% |
| TMO Thermo Fisher Scientific Inc. | 1.56% | 15,127 | $8.8M | Reduce -1.6% |
| TSCO Tractor Supply Company | 1.44% | 161,940 | $8.1M | Reduce -1.6% |
| NVDA Nvidia Corp. | 1.29% | 39,035 | $7.3M | Add +4.2% |
| GLD SPDR Gold Shares | 1.08% | 15,280 | $6.1M | Reduce -18.0% |
| PFE Pfizer Inc. | 1.07% | 241,175 | $6.0M | Add +14.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.05% | 11,699 | $5.9M | Add +0.0% |
| UNH Unitedhealth Group Inc. | 1.02% | 17,337 | $5.7M | Add +5.4% |
| CPRT Copart Inc. | 0.99% | 142,180 | $5.6M | Reduce -26.7% |
| NFLX Netflix Inc. | 0.91% | 54,399 | $5.1M | Reduce -3.2% |
| IBIT iShares Bitcoin Trust ETF | 0.80% | 90,489 | $4.5M | Add +20.3% |
| MO Altria Group Inc. | 0.71% | 69,039 | $4.0M | Reduce -0.9% |
| IAU iShares Gold Trust | 0.69% | 47,997 | $3.9M | Reduce -0.9% |
| ADP Automatic Data Processing | 0.60% | 13,040 | $3.4M | Reduce -49.2% |
| GOOG Alphabet Inc. Class C | 0.60% | 10,664 | $3.3M | Reduce -74.2% |
| JNJ Johnson & Johnson | 0.56% | 15,189 | $3.1M | Add +7.7% |
| ISRG Intuitive Surgical Inc. | 0.56% | 5,512 | $3.1M | Add +1.9% |
| KO The Coca-Cola Co. | 0.47% | 38,169 | $2.7M | Add +8.2% |
| CSCO Cisco Systems Inc. | 0.39% | 28,548 | $2.2M | Add +17.3% |
| ZM Zoom Communications Inc. | 0.34% | 22,211 | $1.9M | Reduce -3.2% |
| LLY Eli Lilly & Co. | 0.33% | 1,726 | $1.9M | Reduce -0.5% |
| TSLA Tesla Inc. | 0.33% | 4,120 | $1.9M | Reduce -0.6% |
| MCD McDonald's Corp. | 0.32% | 5,906 | $1.8M | Add +29.8% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.31% | 21,659 | $1.7M | Add +1.8% |
| FWONK Liberty Media Corp. Class C | 0.31% | 17,725 | $1.7M | No change |
| VCIT Vanguard Int-Term Corporate | 0.29% | 19,624 | $1.6M | Add +4.4% |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | 0.27% | 15,995 | $1.5M | No change |
| PM Philip Morris International | 0.26% | 8,984 | $1.4M | Reduce -1.1% |
| DUK Duke Energy Corp. | 0.25% | 11,986 | $1.4M | Add +0.9% |
| MSTR Strategy Inc. | 0.24% | 9,045 | $1.4M | Add +179.2% |
| AMAT Applied Materials Inc. | 0.22% | 4,835 | $1.2M | Add +74.8% |
| AVGO Broadcom Inc. | 0.22% | 3,548 | $1.2M | Add +0.9% |
| LULU Lululemon Athletica Inc. | 0.20% | 5,525 | $1.1M | No change |
| PG The Procter & Gamble Co. | 0.20% | 7,783 | $1.1M | Add +84.1% |
| PAGS Pagseguro Digital Ltd. Class A | 0.18% | 107,179 | $1.0M | Reduce -40.6% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.18% | 9,173 | $1.0M | No change |
| MEAR Ishrs Short Mat Muni Act ETF | 0.18% | 19,908 | $1.0M | No change |
| SBUX Starbucks Corp. | 0.18% | 11,693 | $985K | Reduce -13.5% |
| PSX Phillips 66 | 0.17% | 7,536 | $972K | Add +144.4% |
| ASML ASML Holding NV-NY Reg SHS | 0.16% | 841 | $900K | No change |
| ORCL Oracle Corp. | 0.16% | 4,499 | $877K | Add +118.6% |
| FICO Fair Isaac Corp. | 0.16% | 518 | $876K | Add +16.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.15% | 2,922 | $866K | Add +37.6% |
| PFF iShares Preferred & Income S | 0.15% | 27,000 | $836K | No change |
| PYPL PayPal Holdings Inc. | 0.15% | 14,153 | $826K | Reduce -20.9% |
| XOM Exxon Mobil Corp. | 0.12% | 5,801 | $698K | Add +28.9% |
| HD Home Depot Inc. | 0.12% | 1,924 | $662K | Add +63.9% |
| RBLX Roblox Corp. Class A | 0.12% | 8,130 | $659K | No change |
| XLK SS Technology Select Sector | 0.11% | 4,460 | $642K | No change |
| SLV iShares Silver Trust | 0.11% | 9,741 | $628K | No change |
| UBER Uber Technologies Inc. | 0.09% | 6,335 | $518K | Add +9.8% |
| QCOM Qualcomm Inc. | 0.09% | 3,022 | $517K | Add +56.2% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.09% | 9,336 | $503K | No change |
| VRT Vertiv Holdings Co. Class A | 0.09% | 3,056 | $495K | No change |
| CRM Salesforce Inc. | 0.09% | 1,837 | $487K | No change |
| PANW Palo Alto Networks Inc. | 0.08% | 2,565 | $472K | Add +33.9% |
| JPM JPMorgan Chase & Co. | 0.08% | 1,407 | $453K | Add +12.6% |
| V Visa Inc. Class A | 0.08% | 1,281 | $449K | Add +21.0% |
| IUSV iShares Core S&P U.S. Value | 0.08% | 4,291 | $440K | No change |
| FCX Freeport-McMoran Inc. | 0.07% | 8,107 | $412K | No change |
| TFPN Blueprint Chspk Ma Trend ETF | 0.07% | 14,366 | $369K | Reduce -2.8% |
| FIX Comfort Systems USA Inc. | 0.06% | 387 | $361K | No change |
| BABA Alibaba Group Holding-SP ADR | 0.06% | 2,285 | $335K | No change |
| MRK Merck & Co. Inc. | 0.06% | 3,024 | $318K | Add +3.7% |
| CLS Celestica Inc. | 0.05% | 751 | $305K | New |
| MA Mastercard Inc. Class A | 0.05% | 534 | $305K | New |
| BX Blackstone Inc. | 0.05% | 1,951 | $301K | No change |
| MFUT Cambria Chesapeake Pure TRND | 0.05% | 17,878 | $292K | Reduce -3.0% |
| AXP American Express Co. | 0.05% | 783 | $290K | No change |
| ECL Ecolab Inc. | 0.05% | 1,100 | $289K | No change |
| IVV iShares Core S&P 500 ETF | 0.05% | 421 | $288K | No change |
| CVX Chevron Corp. | 0.05% | 1,875 | $286K | Reduce -7.2% |
| HG Hamilton Insurance Grou Class B | 0.05% | 10,157 | $283K | No change |
| BN Brookfield Corp. | 0.05% | 6,133 | $281K | New |
| GILD Gilead Sciences Inc. | 0.05% | 2,278 | $280K | No change |
| RSG Republic Services Inc. | 0.05% | 1,302 | $276K | Reduce -21.9% |
| NOW ServiceNow Inc. | 0.05% | 1,800 | $276K | Add +9.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.05% | 396 | $270K | No change |
| VCSH Vanguard S/T Corp. Bond ETF | 0.05% | 3,371 | $269K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 1,147,000 | $1.1M | Reduce -32.0% |
Total filed on the 13F, all lines: $563.4M.
Portfolio Sells Q3 2025 → Q4 2025
| ANET Arista Networks Inc. | Reduce -35.5% | 3.41% | −1.95 |
| XMTR Xometry Inc. Class A | Reduce -44.4% | 3.02% | −1.52 |
| FISV Fiserv Inc. | Sold out | 0.00% | −1.40 |
| GOOG Alphabet Inc. Class C | Reduce -74.2% | 0.60% | −1.04 |
| MELI MercadoLibre Inc. | Reduce -19.2% | 3.03% | −0.93 |
| MSFT Microsoft Corp. | Reduce -17.8% | 4.66% | −0.88 |
| COST Costco Wholesale Corp. | Reduce -25.2% | 2.72% | −0.84 |
| ADBE Adobe Inc. | Reduce -31.6% | 2.24% | −0.77 |
| ADP Automatic Data Processing | Reduce -49.2% | 0.60% | −0.63 |
| CPRT Copart Inc. | Reduce -26.7% | 0.99% | −0.42 |
| GRMN Garmin Ltd. | Sold out | 0.00% | −0.40 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -22.2% | 1.88% | −0.32 |
| FAST Fastenal Co. | Reduce -1.2% | 1.98% | −0.25 |
| NFLX Netflix Inc. | Reduce -3.2% | 0.91% | −0.18 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -18.7% | 4.92% | −0.15 |
| PAGS Pagseguro Digital Ltd. Class A | Reduce -40.6% | 0.18% | −0.11 |
| VZ Verizon Communications Inc. | Sold out | 0.00% | −0.10 |
| TSCO Tractor Supply Company | Reduce -1.6% | 1.44% | −0.08 |
| ARKG ARK Genomic Revolution ETF | Sold out | 0.00% | −0.07 |
| WMT Walmart Inc. | Reduce -17.2% | 3.34% | −0.06 |
| TROW T Rowe Price Group Inc. | Sold out | 0.00% | −0.05 |
| PYPL PayPal Holdings Inc. | Reduce -20.9% | 0.15% | −0.05 |
| MMYT Makemytrip Ltd. | Sold out | 0.00% | −0.05 |
| COR Cencora Inc. | Sold out | 0.00% | −0.04 |
| AJG Arthur J Gallagher & Co. | Sold out | 0.00% | −0.04 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −0.04 |
| MO Altria Group Inc. | Reduce -0.9% | 0.71% | −0.04 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.03 |
| FSS Federal Signal Corp. | Sold out | 0.00% | −0.03 |
| MARA Mara Holdings Inc. | Sold out | 0.00% | −0.03 |
| PTC PTC Inc. | Sold out | 0.00% | −0.03 |
| GAME Gamesquare Hldgs Inc. | Sold out | 0.00% | −0.02 |
| RSG Republic Services Inc. | Reduce -21.9% | 0.05% | −0.01 |
| SBUX Starbucks Corp. | Reduce -13.5% | 0.18% | −0.01 |
| F Ford Motor Co. | Reduce -34.9% | 0.03% | −0.01 |
| CVX Chevron Corp. | Reduce -7.2% | 0.05% | −0.00 |
| GLD SPDR Gold Shares | Reduce -18.0% | 1.08% | +0.00 |
| MFUT Cambria Chesapeake Pure TRND | Reduce -3.0% | 0.05% | +0.01 |
| TFPN Blueprint Chspk Ma Trend ETF | Reduce -2.8% | 0.07% | +0.01 |
| PM Philip Morris International | Reduce -1.1% | 0.26% | +0.02 |
| TSLA Tesla Inc. | Reduce -0.6% | 0.33% | +0.03 |
| ZM Zoom Communications Inc. | Reduce -3.2% | 0.34% | +0.03 |
| SPGI S&P Global Inc. | Reduce -12.9% | 2.63% | +0.07 |
| LLY Eli Lilly & Co. | Reduce -0.5% | 0.33% | +0.12 |
| IAU iShares Gold Trust | Reduce -0.9% | 0.69% | +0.12 |
| ABBV Abbvie Inc. | Reduce -1.6% | 2.63% | +0.16 |
| BKNG Booking Holdings Inc. | Reduce -0.9% | 3.09% | +0.22 |
| SHOP Shopify Inc. Class A | Reduce -5.2% | 2.19% | +0.25 |
| AMZN Amazon.com Inc. | Reduce -0.4% | 2.53% | +0.33 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.6% | 1.56% | +0.35 |
Portfolio Buys Q3 2025 → Q4 2025
| SNPS Synopsys Inc. | Add +1477.8% | 2.97% | +2.79 |
| META Meta Platforms Inc. Class A | Add +193.1% | 2.72% | +1.78 |
| PFE Pfizer Inc. | Add +14.2% | 1.07% | +0.20 |
| ISRG Intuitive Surgical Inc. | Add +1.9% | 0.56% | +0.16 |
| NVDA Nvidia Corp. | Add +4.2% | 1.29% | +0.16 |
| JNJ Johnson & Johnson | Add +7.7% | 0.56% | +0.14 |
| AMAT Applied Materials Inc. | Add +74.8% | 0.22% | +0.13 |
| CSCO Cisco Systems Inc. | Add +17.3% | 0.39% | +0.12 |
| PSX Phillips 66 | Add +144.4% | 0.17% | +0.10 |
| UNH Unitedhealth Group Inc. | Add +5.4% | 1.02% | +0.10 |
| MCD McDonald's Corp. | Add +29.8% | 0.32% | +0.10 |
| KO The Coca-Cola Co. | Add +8.2% | 0.47% | +0.10 |
| PG The Procter & Gamble Co. | Add +84.1% | 0.20% | +0.09 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.0% | 1.05% | +0.09 |
| MSTR Strategy Inc. | Add +179.2% | 0.24% | +0.08 |
| ORCL Oracle Corp. | Add +118.6% | 0.16% | +0.06 |
| IBM Intl Business Machines Corp. | Add +37.6% | 0.15% | +0.06 |
| CLS Celestica Inc. | New | 0.05% | +0.05 |
| MA Mastercard Inc. Class A | New | 0.05% | +0.05 |
| BN Brookfield Corp. | New | 0.05% | +0.05 |
| FICO Fair Isaac Corp. | Add +16.1% | 0.16% | +0.05 |
| SO The Southern Co. | New | 0.05% | +0.05 |
| APP AppLovin Corp. Class A | New | 0.04% | +0.04 |
| EXPE Expedia Group Inc. | New | 0.04% | +0.04 |
| LOW Lowe's Cos Inc. | New | 0.04% | +0.04 |
| XOM Exxon Mobil Corp. | Add +28.9% | 0.12% | +0.04 |
| HD Home Depot Inc. | Add +63.9% | 0.12% | +0.04 |
| QCOM Qualcomm Inc. | Add +56.2% | 0.09% | +0.04 |
| ULS Ul Solutions Inc. Class A | New | 0.04% | +0.04 |
| VTR Ventas Inc. | New | 0.04% | +0.04 |
| THG Hanover Insurance Group Inc./ | New | 0.04% | +0.04 |
| VCIT Vanguard Int-Term Corporate | Add +4.4% | 0.29% | +0.04 |
| GL Globe Life Inc. | New | 0.04% | +0.04 |
| AVGO Broadcom Inc. | Add +0.9% | 0.22% | +0.03 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +1.8% | 0.31% | +0.03 |
| V Visa Inc. Class A | Add +21.0% | 0.08% | +0.02 |
| PANW Palo Alto Networks Inc. | Add +33.9% | 0.08% | +0.02 |
| MRK Merck & Co. Inc. | Add +3.7% | 0.06% | +0.02 |
| JPM JPMorgan Chase & Co. | Add +12.6% | 0.08% | +0.02 |
| DUK Duke Energy Corp. | Add +0.9% | 0.25% | +0.01 |
| ADI Analog Devices Inc. | Add +4.6% | 0.04% | +0.01 |
| CDNS Cadence Design SYS Inc. | Add +27.2% | 0.05% | +0.01 |
| IBIT iShares Bitcoin Trust ETF | Add +20.3% | 0.80% | +0.01 |
| DDOG Datadog Inc. Class A | Add +4.7% | 0.04% | +0.00 |
| ABT Abbott Laboratories | Add +3.8% | 0.05% | +0.00 |
| UBER Uber Technologies Inc. | Add +9.8% | 0.09% | +0.00 |
| NOW ServiceNow Inc. | Add +9.4% | 0.05% | 0.00 |
Notes & Other Activity Q3 2025 → Q4 2025
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | Reduce -32.0% | 1,147,000 | $1.1M |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | Sold out | 1,000,000 | $992Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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 |