Flossbach Von Storch SE

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 3, 2025), Flossbach Von Storch SE reported 108 stock positions worth $25.4 billion. Its top holding was Microsoft (MSFT) at 7.0% of the portfolio, followed by Alphabet Class A (GOOGL, 6.5%) and Amazon.com (AMZN, 5.9%). Compared with Q2 2025, it opened 8 new positions, added to 44 and reduced 42. The biggest buy was Alphabet Class A (GOOGL, shares +2%) and the biggest sale Johnson & Johnson (JNJ, shares −53%).

Most Recent 13F
Q2 2026
Location
COLOGNE, 2M
CIK
0001575677
Portfolio Value
$25.4B (Q3 2025)
SEC Filing
0001575677-25-000014 ↗ filed Nov 3, 2025

Holdings Value

0$10.0B$20.0B$30.0B Q1 2024: $22.9B Q1 2024 Q2 2024: $23.8B Q2 2024 Q3 2024: $25.5B Q3 2024 Q4 2024: $25.1B Q4 2024 Q1 2025: $23.1B Q1 2025 Q2 2025: $24.4B Q2 2025 Q3 2025: $25.4B $25.4B Q3 2025 Q4 2025: $25.2B Q4 2025 Q1 2026: $21.4B Q1 2026 Q2 2026: $22.1B Q2 2026

Holdings 108 stocks · $25.4B

MSFT Microsoft Corp. 6.96% 3,409,081 $1.8B Reduce -0.3%
GOOGL Alphabet Inc. Class A 6.53% 6,812,930 $1.7B Add +2.2%
AMZN Amazon.com Inc. 5.89% 6,803,957 $1.5B Reduce -0.6%
BRK.B Berkshire Hathaway Inc. Class B 5.53% 2,787,941 $1.4B Add +0.2%
TMO Thermo Fisher Scientific Inc. 4.81% 2,516,098 $1.2B Reduce -7.7%
APH Amphenol Corp. Class A 4.30% 8,807,348 $1.1B Reduce -11.4%
SCHW Schwab (charles) Corp. 4.00% 10,631,352 $1.0B Add +0.5%
ABT Abbott Laboratories 3.49% 6,609,983 $885.3M Add +2.9%
AAPL Apple Inc. 3.41% 3,393,476 $864.1M Add +10.3%
DHR Danaher Corp. 3.28% 4,201,663 $833.0M Reduce -0.6%
PEP Pepsico Inc. 3.25% 5,878,893 $825.6M Reduce -11.4%
ICE Intercontinental Exchange Inc. 3.03% 4,567,933 $769.6M Add +0.1%
V Visa Inc. Class A 2.92% 2,172,103 $741.5M Add +1.0%
AME Ametek Inc. 2.80% 3,783,841 $711.4M Reduce -0.1%
NKE Nike Inc. Class B 2.71% 9,866,461 $688.0M Reduce -12.4%
ACN Accenture PLC Class A 2.45% 2,521,263 $621.7M Add +4.7%
FTV Fortive Corp. 2.25% 11,646,149 $570.5M Reduce -3.3%
JNJ Johnson & Johnson 2.19% 2,995,174 $555.4M Reduce -52.8%
AMAT Applied Materials Inc. 1.94% 2,408,464 $493.1M Reduce -2.2%
PG The Procter & Gamble Co. 1.88% 3,096,726 $475.8M Reduce -1.1%
ROP Roper Technologies Inc. 1.76% 896,161 $446.9M Add +130.3%
META Meta Platforms Inc. Class A 1.70% 586,067 $430.4M Add +5.5%
MELI MercadoLibre Inc. 1.67% 181,719 $424.7M Add +1669.4%
BNTX Biontech SE-ADR 1.64% 4,230,033 $417.2M Reduce 0.0%
SPGI S&P Global Inc. 1.40% 731,305 $355.9M Add +1.5%
LULU Lululemon Athletica Inc. 1.35% 1,930,831 $343.6M Add +17.7%
LIN Linde PLC 1.35% 721,959 $342.9M Add +97.3%
MA Mastercard Inc. Class A 1.32% 590,809 $336.1M Reduce -2.9%
GGG Graco Inc. 1.12% 3,337,450 $283.5M No change
CRM Salesforce Inc. 0.86% 924,010 $219.0M Add +9.9%
TSM Taiwan Semiconductor-SP ADR 0.83% 757,970 $211.7M Add +139.6%
RAL Ralliant Corp. 0.72% 4,152,866 $181.6M Add +1.7%
BLK BlackRock Inc. 0.59% 129,157 $150.6M Reduce -21.6%
SHW The Sherwin-Williams Co. 0.56% 409,454 $141.8M Reduce -53.9%
IEX Idex Corp. 0.51% 791,020 $128.7M Add +23.4%
MSCI MSCI Inc. 0.51% 226,772 $128.7M Add +8.3%
ADI Analog Devices Inc. 0.50% 517,199 $127.1M Add +21.4%
MDT Medtronic PLC 0.48% 1,265,609 $120.5M Reduce -5.6%
AVGO Broadcom Inc. 0.46% 353,013 $116.5M Add +37.2%
DG Dollar General Corp. 0.43% 1,046,937 $108.2M Add +6.7%
MCD McDonald's Corp. 0.41% 344,769 $104.8M Add +8.3%
MMM 3M Co. 0.40% 656,217 $101.8M Reduce -17.3%
SYK Stryker Corp. 0.40% 275,422 $101.8M Add +0.8%
NDAQ Nasdaq Inc. 0.39% 1,126,905 $99.7M Reduce -3.9%
CPRT Copart Inc. 0.38% 2,147,849 $96.6M Add +89.2%
NVDA Nvidia Corp. 0.31% 416,326 $77.7M Add +21.7%
UBER Uber Technologies Inc. 0.28% 722,612 $70.8M Reduce -4.2%
IDXX Idexx Laboratories Inc. 0.28% 110,534 $70.6M Reduce -54.2%
NFLX Netflix Inc. 0.27% 57,741 $69.2M Add +5.0%
ITW Illinois Tool Works 0.27% 263,592 $68.7M Reduce -1.2%
HDB HDFC Bank Ltd.-ADR 0.27% 1,982,810 $67.7M Add +1.6%
BKNG Booking Holdings Inc. 0.26% 12,361 $66.7M Reduce -22.8%
KO The Coca-Cola Co. 0.23% 869,928 $57.7M Add +0.8%
MCO Moody's Corp. 0.19% 101,816 $48.5M Reduce -45.1%
WMT Walmart Inc. 0.17% 412,285 $42.5M Add +0.5%
RACE Ferrari NV 0.16% 83,106 $40.1M Add +38.0%
XOM Exxon Mobil Corp. 0.14% 321,523 $36.3M Reduce -4.2%
BDX Becton Dickinson and Co. 0.12% 165,320 $30.9M Reduce -21.7%
BABA Alibaba Group Holding-SP ADR 0.11% 155,000 $27.7M Reduce -15.8%
AXP American Express Co. 0.10% 79,387 $26.4M Add +2.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.10% 229,321 $26.3M Reduce -35.8%
CL Colgate-Palmolive Co. 0.10% 301,906 $24.1M Reduce -4.4%
ODFL Old Dominion Freight Line 0.07% 134,325 $18.9M Add +26.0%
ADBE Adobe Inc. 0.07% 51,714 $18.2M Add +3.2%
HD Home Depot Inc. 0.07% 43,755 $17.7M Reduce -5.1%
ROST Ross Stores Inc. 0.07% 116,042 $17.7M Add +7.3%
PYPL PayPal Holdings Inc. 0.07% 255,634 $17.1M Reduce -25.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.06% 112,462 $16.3M Reduce -14.5%
VZ Verizon Communications Inc. 0.06% 356,179 $15.7M No change
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.06% 175,000 $15.4M Add +194.7%
MKTX Marketaxess Holdings Inc. 0.05% 79,000 $13.8M Add +243.5%
VRSK Verisk Analytics Inc. 0.05% 53,863 $13.5M Reduce -56.9%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.05% 800,000 $12.8M No change
UNP Union Pacific Corp. 0.05% 50,450 $11.9M Reduce -49.5%
CHD Church & Dwight Co. Inc. 0.04% 127,863 $11.2M Reduce -14.0%
SBUX Starbucks Corp. 0.04% 128,281 $10.9M Reduce -52.5%
INTU Intuit Inc. 0.04% 13,840 $9.5M Reduce -9.7%
COP Conocophillips 0.04% 97,856 $9.3M Add +0.9%
SW Smurfit Westrock PLC 0.03% 206,260 $8.6M Reduce -9.3%
BX Blackstone Inc. 0.03% 45,000 $7.7M No change
ORLY O'reilly Automotive Inc. 0.03% 68,918 $7.4M Add +2.1%
SPOT Spotify Technology SA 0.03% 10,091 $7.0M Add +96.5%
FAST Fastenal Co. 0.03% 130,667 $6.4M Reduce -35.2%
CPNG Coupang Inc. 0.02% 190,000 $6.1M No change
TT Trane Technologies PLC 0.02% 12,000 $5.1M New
IBN Icici Bank Ltd.-Spon ADR 0.02% 160,000 $4.8M No change
MMYT Makemytrip Ltd. 0.01% 37,500 $3.5M Add +97.4%
YUMC Yum China Holdings Inc. 0.01% 80,000 $3.4M Reduce -3.0%
TCOM Trip.com Group Ltd.-ADR 0.01% 45,000 $3.4M Add +12.5%
BRK.A Berkshire Hathaway Inc. Class A 0.01% 4 $3.0M No change
NTES Netease Inc.-ADR 0.01% 17,500 $2.7M No change
MDLZ Mondelez International Inc. Class A 0.01% 38,625 $2.4M Add +20.4%
FMX Fomento Economico Mex-SP ADR 0.01% 20,000 $2.0M No change
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.01% 21,500 $1.8M No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.01% 45,731 $1.6M Reduce -23.5%
ADP Automatic Data Processing 0.01% 4,872 $1.4M Reduce -88.9%
ABNB Airbnb Inc. Class A 0.01% 10,781 $1.3M No change
GLOB Globant SA 0.00% 19,000 $1.1M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.00% 3,505 $989K New
EA Electronic Arts Inc. 0.00% 4,425 $893K New
CHKP Check Point Software Tech 0.00% 4,017 $831K New
FTNT Fortinet Inc. 0.00% 9,753 $820K New
PDD PDD Holdings Inc. 0.00% 4,245 $561K New
INFY Infosys Ltd.-SP ADR 0.00% 33,807 $550K New
GOOG Alphabet Inc. Class C 0.00% 2,239 $545K Add +12.6%
CDNS Cadence Design SYS Inc. 0.00% 997 $350K No change
ORCL Oracle Corp. 0.00% 840 $236K New
CSGP Costar Group Inc. 0.00% 2,500 $211K No change

Options reported separately and not counted above: META PLATFORMS INC puts ($3.3M).

Other holdings (10): bonds, preferreds, convertibles and warrants · $11.7M (not counted above)
SecurityClassShares / PrincipalValueChange
FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) NOTE 11/0 · principal 2,750,000$2.7MNo change
HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) NOTE 0.250% 3/0 · principal 1,750,000$2.0MAdd +16.7%
SNAP INC (SNAP 0 05/01/27) NOTE 5/0 · principal 1,900,000$1.8MNo change
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) NOTE 1.125% 2/1 · principal 1,700,000$1.6MReduce -37.0%
ETSY INC (ETSY 0.25 06/15/28) NOTE 0.250% 6/1 · principal 1,400,000$1.2MReduce -36.4%
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal 900,000$863KNo change
UBER TECHNOLOGIES INC (UBER 0 12/15/25) NOTE 12/1 · principal 500,000$610KNo change
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal 200,000$295KReduce -60.0%
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal 200,000$282KReduce -50.0%
SNAP INC (SNAP 0.125 03/01/28) NOTE 0.125% 3/0 · principal 300,000$269KReduce -70.0%

Total filed on the 13F, all lines: $25.4B.

Portfolio Sells Q2 2025 → Q3 2025

JNJ Johnson & Johnson Reduce -52.8% 2.19% −1.77
SHW The Sherwin-Williams Co. Reduce -53.9% 0.56% −0.69
NKE Nike Inc. Class B Reduce -12.4% 2.71% −0.56
PEP Pepsico Inc. Reduce -11.4% 3.25% −0.33
FTV Fortive Corp. Reduce -3.3% 2.25% −0.32
AMZN Amazon.com Inc. Reduce -0.6% 5.89% −0.25
IDXX Idexx Laboratories Inc. Reduce -54.2% 0.28% −0.25
BNTX Biontech SE-ADR Reduce 0.0% 1.64% −0.20
MCO Moody's Corp. Reduce -45.1% 0.19% −0.19
PG The Procter & Gamble Co. Reduce -1.1% 1.88% −0.17
DHR Danaher Corp. Reduce -0.6% 3.28% −0.13
BKNG Booking Holdings Inc. Reduce -22.8% 0.26% −0.12
BLK BlackRock Inc. Reduce -21.6% 0.59% −0.11
VRSK Verisk Analytics Inc. Reduce -56.9% 0.05% −0.11
MMM 3M Co. Reduce -17.3% 0.40% −0.09
DIS The Walt Disney Co. Reduce -35.8% 0.10% −0.08
MA Mastercard Inc. Class A Reduce -2.9% 1.32% −0.07
SBUX Starbucks Corp. Reduce -52.5% 0.04% −0.06
ADP Automatic Data Processing Reduce -88.9% 0.01% −0.05
UNP Union Pacific Corp. Reduce -49.5% 0.05% −0.05
PYPL PayPal Holdings Inc. Reduce -25.2% 0.07% −0.04
NDAQ Nasdaq Inc. Reduce -3.9% 0.39% −0.04
BDX Becton Dickinson and Co. Reduce -21.7% 0.12% −0.03
CL Colgate-Palmolive Co. Reduce -4.4% 0.10% −0.02
CHD Church & Dwight Co. Inc. Reduce -14.0% 0.04% −0.01
INTU Intuit Inc. Reduce -9.7% 0.04% −0.01
FAST Fastenal Co. Reduce -35.2% 0.03% −0.01
UBER Uber Technologies Inc. Reduce -4.2% 0.28% −0.01
SW Smurfit Westrock PLC Reduce -9.3% 0.03% −0.01
XOM Exxon Mobil Corp. Reduce -4.2% 0.14% −0.01
MDT Medtronic PLC Reduce -5.6% 0.48% −0.00
TJX TJX Companies Inc. Reduce -14.5% 0.06% −0.00
SLB SLB Ltd. Reduce -23.5% 0.01% −0.00
YUMC Yum China Holdings Inc. Reduce -3.0% 0.01% −0.00
HD Home Depot Inc. Reduce -5.1% 0.07% +0.00
ITW Illinois Tool Works Reduce -1.2% 0.27% +0.00
AME Ametek Inc. Reduce -0.1% 2.80% +0.00
MSFT Microsoft Corp. Reduce -0.3% 6.96% +0.01
BABA Alibaba Group Holding-SP ADR Reduce -15.8% 0.11% +0.02
AMAT Applied Materials Inc. Reduce -2.2% 1.94% +0.10
APH Amphenol Corp. Class A Reduce -11.4% 4.30% +0.28
TMO Thermo Fisher Scientific Inc. Reduce -7.7% 4.81% +0.29

Portfolio Buys Q2 2025 → Q3 2025

GOOGL Alphabet Inc. Class A Add +2.2% 6.53% +1.72
MELI MercadoLibre Inc. Add +1669.4% 1.67% +1.56
ROP Roper Technologies Inc. Add +130.3% 1.76% +0.86
AAPL Apple Inc. Add +10.3% 3.41% +0.82
LIN Linde PLC Add +97.3% 1.35% +0.65
TSM Taiwan Semiconductor-SP ADR Add +139.6% 0.83% +0.54
AVGO Broadcom Inc. Add +37.2% 0.46% +0.17
CPRT Copart Inc. Add +89.2% 0.38% +0.15
ADI Analog Devices Inc. Add +21.4% 0.50% +0.09
NVDA Nvidia Corp. Add +21.7% 0.31% +0.09
SCHW Schwab (charles) Corp. Add +0.5% 4.00% +0.05
IEX Idex Corp. Add +23.4% 0.51% +0.05
EL Estee Lauder Companies Class A Add +194.7% 0.06% +0.04
RACE Ferrari NV Add +38.0% 0.16% +0.04
MKTX Marketaxess Holdings Inc. Add +243.5% 0.05% +0.03
MCD McDonald's Corp. Add +8.3% 0.41% +0.03
TT Trane Technologies PLC New 0.02% +0.02
META Meta Platforms Inc. Class A Add +5.5% 1.70% +0.02
MSCI MSCI Inc. Add +8.3% 0.51% +0.01
ROST Ross Stores Inc. Add +7.3% 0.07% +0.01
SPOT Spotify Technology SA Add +96.5% 0.03% +0.01
MMYT Makemytrip Ltd. Add +97.4% 0.01% +0.01
ORLY O'reilly Automotive Inc. Add +2.1% 0.03% +0.00
IBM Intl Business Machines Corp. New 0.00% +0.00
ODFL Old Dominion Freight Line Add +26.0% 0.07% +0.00
TCOM Trip.com Group Ltd.-ADR Add +12.5% 0.01% +0.00
EA Electronic Arts Inc. New 0.00% +0.00
WMT Walmart Inc. Add +0.5% 0.17% +0.00
CHKP Check Point Software Tech New 0.00% +0.00
FTNT Fortinet Inc. New 0.00% +0.00
AXP American Express Co. Add +2.4% 0.10% +0.00
INFY Infosys Ltd.-SP ADR New 0.00% +0.00
PDD PDD Holdings Inc. New 0.00% +0.00
COP Conocophillips Add +0.9% 0.04% +0.00
ORCL Oracle Corp. New 0.00% +0.00
GOOG Alphabet Inc. Class C Add +12.6% 0.00% +0.00
MDLZ Mondelez International Inc. Class A Add +20.4% 0.01% +0.00
BRK.B Berkshire Hathaway Inc. Class B Add +0.2% 5.53% −0.00
ADBE Adobe Inc. Add +3.2% 0.07% −0.01
KO The Coca-Cola Co. Add +0.8% 0.23% −0.02
NFLX Netflix Inc. Add +5.0% 0.27% −0.03
DG Dollar General Corp. Add +6.7% 0.43% −0.03
HDB HDFC Bank Ltd.-ADR Add +1.6% 0.27% −0.04
SYK Stryker Corp. Add +0.8% 0.40% −0.04
CRM Salesforce Inc. Add +9.9% 0.86% −0.07
ABT Abbott Laboratories Add +2.9% 3.49% −0.08
RAL Ralliant Corp. Add +1.7% 0.72% −0.09
SPGI S&P Global Inc. Add +1.5% 1.40% −0.15
V Visa Inc. Class A Add +1.0% 2.92% −0.20
LULU Lululemon Athletica Inc. Add +17.7% 1.35% −0.24

Notes & Other Activity Q2 2025 → Q3 2025

HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) NOTE 0.250% 3/0 · principal Add +16.7% 1,750,000 $2.0M
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) NOTE 1.125% 2/1 · principal Reduce -37.0% 1,700,000 $1.6M
ETSY INC (ETSY 0.25 06/15/28) NOTE 0.250% 6/1 · principal Reduce -36.4% 1,400,000 $1.2M
JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) NOTE 2.000% 6/1 · principal Sold out 1,200,000 $1.2Mbefore exit
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal Reduce -60.0% 200,000 $295K
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal Reduce -50.0% 200,000 $282K
SNAP INC (SNAP 0.125 03/01/28) NOTE 0.125% 3/0 · principal Reduce -70.0% 300,000 $269K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 98$22.1BGOOGL, AMZN, MSFT, BRK.B, APH
Q1 2026 101$21.4BGOOGL, MSFT, BRK.B, AMZN, SCHW
Q4 2025 102$25.2BGOOGL, MSFT, AMZN, BRK.B, TMO
Q3 2025 108$25.4BMSFT, GOOGL, AMZN, BRK.B, TMO
Q2 2025 100$24.4BMSFT, AMZN, BRK.B, GOOGL, TMO
Q1 2025 122$23.1BBRK.B, MSFT, AMZN, JNJ, ABT
Q4 2024 99$25.1BBRK.B, MSFT, AMZN, GOOGL, AAPL
Q3 2024 101$25.5BBRK.B, MSFT, AMZN, GOOGL, AAPL
Q2 2024 98$23.8BBRK.B, MSFT, GOOGL, AMZN, AAPL
Q1 2024 100$22.9BBRK.B, GOOGL, MSFT, AMZN, DHR