Generali Investments CEE, investicni spolecnost, a.s.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 18, 2025), Generali Investments CEE, investicni spolecnost, a.s. reported 383 stock positions worth $1.2 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 3.9% of the portfolio, followed by Invesco S&P 500 Equal Weight (RSP, 2.9%) and Erste Group Bank (EBKOF, 2.1%). Compared with Q1 2025, it opened 7 new positions, sold out of 7, added to 102 and reduced 37. The biggest buy was Nvidia (NVDA, shares +22%) and the biggest sale Invesco S&P 500 Equal Weight (RSP, shares −11%).

Most Recent 13F
Q2 2026
Location
PRAGUE, 2N
CIK
0002047540
Portfolio Value
$1.2B (Q2 2025)
SEC Filing
0002047540-25-000006 ↗ filed Jul 18, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q4 2024: $970.1M Q4 2024 Q1 2025: $1.1B Q1 2025 Q2 2025: $1.2B $1.2B Q2 2025 Q3 2025: $1.3B Q3 2025 Q4 2025: $1.4B Q4 2025 Q1 2026: $1.9B Q1 2026 Q2 2026: $2.1B Q2 2026

Holdings 383 stocks · $1.2B
SPY SS SPDR S&P 500 ETF Trust-US 3.90% 76,800 $47.5M No change
RSP Invesco S&P 500 Equal Weight 2.90% 193,976 $35.3M Reduce -11.0%
EBKOF Erste Group Bank AG 2.07% 294,924 $25.1M Reduce -7.5%
NVDA Nvidia Corp. 2.01% 154,896 $24.5M Add +22.2%
QQQ Invesco QQQ Trust Series 1 1.72% 37,969 $20.9M Add +57.0%
MSFT Microsoft Corp. 1.71% 41,787 $20.8M Reduce -2.0%
OMVJF Omv AG 1.58% 353,192 $19.2M Reduce -0.5%
AMZN Amazon.com Inc. 1.52% 84,116 $18.5M Add +5.3%
IVV iShares Core S&P 500 ETF 1.38% 27,000 $16.8M No change
INPOF Inpost SA 1.31% 959,697 $15.9M Add +9.2%
IBB iShares Biotechnology ETF 1.21% 116,115 $14.7M Add +35.0%
AMD Advanced Micro Devices 1.20% 102,706 $14.6M Add +13.7%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 1.18% 168,414 $14.3M Add +23.7%
JPM JPMorgan Chase & Co. 1.17% 49,148 $14.2M Add +1.3%
AAPL Apple Inc. 1.16% 68,873 $14.1M Add +2.0%
VNNVF Vonovia SE 1.15% 397,526 $14.0M Add +12.9%
AVGO Broadcom Inc. 1.03% 45,604 $12.6M Reduce -0.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.95% 93,582 $11.6M Add +8.5%
SMAWF Siemens AG-Reg 0.94% 44,611 $11.5M Add +5.6%
V Visa Inc. Class A 0.93% 31,859 $11.3M Add +5.8%
ALLEGRO EU SA 0.92% 1,169,300 $11.2M Reduce -19.7%
SAPGF Sap SE 0.90% 36,140 $11.0M Add +0.3%
GOOGL Alphabet Inc. Class A 0.85% 58,813 $10.4M Reduce -1.0%
AXP American Express Co. 0.84% 32,066 $10.2M Add +3.7%
SSNHZ Samsung Electr-GDR Reg S 0.84% 9,258 $10.2M Add +11.5%
NATKY Nac Kazatomprom JSC-GDR Regs 0.84% 235,200 $10.2M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.83% 34,143 $10.1M Add +4.8%
MA Mastercard Inc. Class A 0.77% 16,703 $9.4M Reduce -2.3%
META Meta Platforms Inc. Class A 0.75% 12,364 $9.1M Add +2.9%
GOOG Alphabet Inc. Class C 0.70% 48,295 $8.6M Add +8.6%
IEMG iShares Core MSCI Emerging 0.68% 137,900 $8.3M No change
VWO Vanguard Ftse Emerging Marke 0.67% 165,500 $8.2M No change
TSM Taiwan Semiconductor-SP ADR 0.67% 35,991 $8.2M Add +4.5%
LLY Eli Lilly & Co. 0.67% 10,448 $8.1M No change
ICLN iShares Global Clean Energy 0.67% 619,000 $8.1M No change
TTE Totalenergies SE 0.63% 125,177 $7.7M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.63% 161,960 $7.7M Add +58.9%
HDB HDFC Bank Ltd.-ADR 0.63% 99,200 $7.6M No change
NFLX Netflix Inc. 0.62% 5,660 $7.6M Add +2.0%
HALYK BANK-GDR REG S filed as Halyk Savings Bank of Kazakhstan JSC 0.62% 304,839 $7.5M Add +34.3%
CSCO Cisco Systems Inc. 0.61% 106,539 $7.4M Add +19.8%
ABBV Abbvie Inc. 0.59% 38,514 $7.1M Add +1.7%
BRK.B Berkshire Hathaway Inc. Class B 0.59% 14,687 $7.1M Add +19.0%
RWNFF Rwe AG 0.58% 168,658 $7.1M Add +1.8%
PEP Pepsico Inc. 0.58% 53,003 $7.0M Add +16.2%
ENAKF E.on SE 0.55% 363,962 $6.7M No change
MELI MercadoLibre Inc. 0.54% 2,520 $6.6M Add +13.5%
GILD Gilead Sciences Inc. 0.53% 58,504 $6.5M Reduce -20.4%
ORCL Oracle Corp. 0.53% 29,500 $6.4M No change
CAT Caterpillar Inc. 0.52% 16,300 $6.3M No change
EADSF Airbus SE 0.51% 29,722 $6.2M Add +33.4%
RNMBF Rheinmetall AG 0.51% 2,936 $6.2M Reduce -0.5%
IBDSF Iberdrola SA 0.50% 318,908 $6.1M Reduce -6.5%
IDEXF Industria DE Diseno Textil filed as INDITEX 0.50% 117,320 $6.1M Reduce -5.6%
HUUUGE INC 0.50% 1,205,117 $6.1M No change
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.50% 99,500 $6.0M Add +25.0%
MCD McDonald's Corp. 0.49% 20,587 $6.0M Add +6.5%
UBER Uber Technologies Inc. 0.49% 63,869 $6.0M Add +13.7%
THLEF Thales SA 0.49% 20,263 $6.0M Reduce -26.4%
TM Toyota Motor Corp. -Spon ADR 0.47% 33,162 $5.7M Add +0.5%
TSLA Tesla Inc. 0.47% 17,805 $5.7M Add +7.7%
PM Philip Morris International 0.45% 30,008 $5.5M Add +0.7%
FDX FedEx Corp. 0.45% 23,900 $5.4M Add +30.6%
SPOT Spotify Technology SA 0.44% 7,009 $5.4M Add +7.0%
GS Goldman Sachs Group Inc. 0.43% 7,461 $5.3M Add +2.4%
XOM Exxon Mobil Corp. 0.43% 48,700 $5.2M Reduce -25.2%
PG The Procter & Gamble Co. 0.43% 32,951 $5.2M Reduce -1.2%
INFY Infosys Ltd.-SP ADR 0.42% 278,100 $5.2M Add +3.3%
PYPL PayPal Holdings Inc. 0.41% 67,290 $5.0M Add +4.7%
GEN Gen Digital Inc. 0.41% 170,049 $5.0M Add +15.6%
GE General Electric filed as GE AEROSPACE 0.41% 19,204 $4.9M Reduce -6.7%
GFI Gold Fields Ltd.-Spons ADR 0.40% 208,000 $4.9M No change
HPE Hewlett Packard Enterprise 0.40% 240,000 $4.9M No change
TCEHY Tencent Holdings Ltd.-Uns ADR 0.40% 75,787 $4.9M No change
VZ Verizon Communications Inc. 0.40% 112,662 $4.9M No change
BIIB Biogen Inc. 0.40% 38,755 $4.9M Add +43.2%
WELL Welltower Inc. 0.40% 31,600 $4.9M No change
INGVF ING Groep NV 0.39% 218,228 $4.8M No change
EBAY eBay Inc. 0.39% 64,050 $4.8M Reduce -16.7%
TXN Texas Instruments Inc. 0.39% 22,906 $4.8M No change
VRTX Vertex Pharmaceuticals Inc. 0.38% 10,491 $4.7M Reduce -4.9%
HD Home Depot Inc. 0.38% 12,735 $4.7M No change
WMT Walmart Inc. 0.38% 47,608 $4.7M Reduce -5.5%
KO The Coca-Cola Co. 0.38% 64,628 $4.6M Add +3.2%
COST Costco Wholesale Corp. 0.38% 4,616 $4.6M Add +9.5%
F Ford Motor Co. filed as FORD MTR CO 0.37% 420,000 $4.6M Add +40.0%
TEFOF Telefonica SA 0.37% 849,872 $4.5M Add +31.5%
OEZVF Verbund AG 0.37% 58,004 $4.5M No change
QCOM Qualcomm Inc. 0.36% 27,383 $4.4M No change
CRM Salesforce Inc. 0.36% 15,925 $4.3M Add +5.4%
HESAF Hermes International 0.36% 1,601 $4.3M Add +6.7%
KHC The Kraft Heinz Co. 0.36% 167,773 $4.3M Add +10.1%
NTDOY Nintendo Co. Ltd.-Unspons ADR 0.36% 180,000 $4.3M No change
INTU Intuit Inc. 0.36% 5,484 $4.3M No change
GRPN Groupon Inc. 0.35% 128,021 $4.3M Reduce -35.4%
RACE Ferrari NV 0.35% 8,565 $4.2M Add +6.2%
CVX Chevron Corp. 0.34% 28,750 $4.1M Reduce -18.5%
UNH Unitedhealth Group Inc. 0.33% 12,860 $4.0M Reduce -0.1%
MS Morgan Stanley 0.33% 28,400 $4.0M No change
ESOCF Enel SPA 0.33% 420,023 $4.0M Reduce -0.5%
IBN Icici Bank Ltd.-Spon ADR 0.32% 117,309 $3.9M Add +5.1%
ARCC Ares Capital Corp. 0.32% 177,997 $3.9M Add +5.9%
T AT&T Inc. 0.32% 134,821 $3.9M Add +15.2%
TD Toronto-Dominion Bank 0.32% 53,000 $3.9M Add +17.8%
SPG Simon Property Group Inc. 0.32% 24,102 $3.9M No change
ABT Abbott Laboratories 0.31% 28,058 $3.8M Add +2.9%
SONY Sony Group Corp. - SP ADR 0.31% 145,750 $3.8M Reduce -12.1%
RYLPF Koninklijke Philips NV 0.31% 156,824 $3.8M Add +4.2%
SBGSF Schneider Electric SE 0.31% 14,144 $3.8M Reduce -4.6%
ADBE Adobe Inc. 0.31% 9,675 $3.7M No change
RY Royal Bank of Canada 0.30% 28,000 $3.7M Add +12.0%
DELL Dell Technologies -C 0.30% 30,000 $3.7M Add +36.4%
PPRUF Kering 0.30% 16,773 $3.6M Reduce -1.1%
ACN Accenture PLC Class A 0.30% 12,127 $3.6M No change
NOW ServiceNow Inc. 0.29% 3,400 $3.5M No change
C Citigroup Inc. 0.28% 40,000 $3.4M No change
CEG Constellation Energy 0.28% 10,533 $3.4M No change
HMC Honda Motor Co. Ltd.-Spons ADR 0.27% 115,800 $3.3M No change
AMGN Amgen Inc. 0.27% 11,920 $3.3M Reduce -15.9%
WFC Wells Fargo & Co. 0.27% 41,000 $3.3M No change
INTC Intel Corp. 0.27% 145,000 $3.2M Add +61.1%
ABNB Airbnb Inc. Class A 0.25% 23,000 $3.0M No change
PEPCO GROUP NV 0.25% 502,437 $3.0M No change
MPC Marathon Petroleum Corp. 0.24% 17,694 $2.9M No change
PLD Prologis Inc. 0.24% 27,672 $2.9M No change
EIPAF Eni SPA 0.24% 178,400 $2.9M No change
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC 0.24% 34,888 $2.9M No change
SNYNF Sanofi 0.24% 29,722 $2.9M Reduce -2.2%
RLNIY Reliance Inds-Spons GDR 144A 0.23% 40,100 $2.8M No change
ADP Automatic Data Processing 0.23% 9,000 $2.8M Add +12.5%
DLR Digital Realty Trust Inc. 0.23% 15,700 $2.7M No change
VLO Valero Energy Corp. 0.22% 20,300 $2.7M No change
JNJ Johnson & Johnson 0.22% 17,830 $2.7M No change
SBUX Starbucks Corp. 0.22% 29,500 $2.7M No change
ESLOF Essilorluxottica 0.22% 9,596 $2.6M Add +1.8%
NSRGF Nestle SA-Reg 0.22% 26,397 $2.6M No change
CL Colgate-Palmolive Co. 0.21% 27,600 $2.5M No change
VTRS Viatris Inc. 0.21% 279,743 $2.5M No change
HXSCL SK Hynix Inc.-GDS Reg S 0.20% 11,510 $2.5M No change
MRK Merck & Co. Inc. 0.20% 30,728 $2.4M No change
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.20% 109,986 $2.4M No change
ROCHE HOLDING AG-GENUSSCHEIN 0.20% 7,403 $2.4M No change
MMM 3M Co. 0.20% 15,768 $2.4M Add +1.7%
NEM Newmont Corp. 0.20% 40,930 $2.4M No change
YUM Yum! Brands Inc. 0.19% 16,000 $2.4M No change
NSRGY Nestle SA-Spons ADR 0.19% 23,650 $2.3M No change
NVSEF Novartis AG-Reg 0.19% 19,275 $2.3M Reduce -11.8%
ENGQF Engie filed as ENGIE SA 0.19% 99,537 $2.3M No change
MSCI MSCI Inc. 0.19% 4,050 $2.3M No change
LOW Lowe's Cos Inc. 0.19% 10,500 $2.3M No change
MBGAF Mercedes-Benz Group AG 0.19% 40,000 $2.3M No change
NTES Netease Inc.-ADR 0.19% 17,250 $2.3M No change
NOVA LJUBLJANSKA B-GDR REG S 0.19% 64,976 $2.3M Reduce -27.0%
NTTYY NTT Inc. - ADR 0.19% 85,000 $2.3M No change
HES Hess Corp. 0.19% 16,300 $2.3M Add +21.6%
HIVE Hive Digital Technologies LT 0.18% 1,244,230 $2.2M Add +45.4%
COP Conocophillips 0.18% 24,652 $2.2M Reduce -2.4%
NKE Nike Inc. Class B 0.18% 31,000 $2.2M No change
PSA Public Storage 0.18% 7,350 $2.2M No change
BSX Boston Scientific Corp. 0.18% 20,000 $2.1M No change
ELCPF Edp SA 0.17% 487,375 $2.1M Add +17.4%
PHM Pultegroup Inc. 0.17% 20,000 $2.1M No change
EQIX Equinix Inc. 0.17% 2,620 $2.1M No change
PSX Phillips 66 0.17% 17,120 $2.0M No change
AMT American Tower Corp. 0.17% 9,200 $2.0M No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.17% 25,000 $2.0M No change
JRONF Jeronimo Martins 0.16% 78,500 $2.0M No change
REPYF Repsol SA 0.16% 134,927 $2.0M No change
HPQ HP Inc. 0.16% 80,000 $2.0M No change
AEM Agnico Eagle Mines Ltd. 0.16% 16,343 $1.9M No change
LULU Lululemon Athletica Inc. 0.16% 8,179 $1.9M Add +35.6%
BABA Alibaba Group Holding-SP ADR 0.16% 17,050 $1.9M Reduce -23.4%
OBDC Blue Owl Capital Corp. 0.16% 131,627 $1.9M Add +2.1%
DUK Duke Energy Corp. 0.15% 15,521 $1.8M No change
ITUB Itau Unibanco H-Spon PRF ADR 0.15% 267,799 $1.8M No change
BXSL Blackstone Secured Lending F 0.15% 58,681 $1.8M Add +3.5%
SRPT Sarepta Therapeutics Inc. 0.15% 105,326 $1.8M Add +5166.3%
KIM Kimco Realty Corp. 0.14% 83,300 $1.8M No change
CI The Cigna Group 0.14% 5,100 $1.7M No change
UCBJF Ucb SA 0.13% 8,320 $1.6M No change
SSL Sasol Ltd.-Sponsored ADR 0.13% 367,196 $1.6M No change
UPS United Parcel Service Class B 0.13% 16,000 $1.6M No change
CIG Cia Energetica DE-Spon ADR 0.13% 810,999 $1.6M No change
RSG Republic Services Inc. 0.13% 6,410 $1.6M Add +57.9%
EOG EOG Resources Inc. 0.13% 13,100 $1.6M No change
SCCO Southern Copper Corp. 0.13% 15,226 $1.5M Add +1.0%
WPM Wheaton Precious Metals Corp. 0.13% 17,048 $1.5M No change
TMO Thermo Fisher Scientific Inc. 0.13% 3,755 $1.5M No change
B Barrick Mining Corp. 0.13% 73,120 $1.5M No change
NTOIF Neste Oyj 0.13% 112,046 $1.5M Add +3.5%
KBH KB Home 0.12% 28,500 $1.5M No change
DHI D.R. Horton Inc. 0.12% 11,700 $1.5M No change
SO The Southern Co. 0.12% 16,400 $1.5M No change
PFE Pfizer Inc. 0.12% 61,950 $1.5M No change
FSK FS KKR Capital Corp. 0.12% 72,351 $1.5M Add +5.1%
NPSNY Naspers Ltd.-N SHS Spon ADR 0.12% 24,000 $1.5M No change
AZN Astrazeneca PLC-Spons ADR 0.12% 21,100 $1.5M No change
NVS Novartis AG-Sponsored ADR 0.12% 12,000 $1.5M No change
TERRF Terna-Rete Elettrica Naziona 0.12% 140,248 $1.4M Add +87.0%
JD Jd.com Inc.-ADR 0.12% 43,960 $1.4M Reduce -33.2%
CICHY China Construct-Unspon ADR 0.12% 69,592 $1.4M No change
EXC Exelon Corp. 0.11% 31,600 $1.4M No change
MAIN Main Street Capital Corp. 0.11% 22,910 $1.4M New
BKR Baker Hughes Co. 0.11% 34,800 $1.3M No change
SPB Spectrum Brands Holdings Inc. 0.11% 25,000 $1.3M No change
UMC United Microelectron-SP ADR 0.11% 170,779 $1.3M No change
HR Healthcare Realty Trust Inc. 0.11% 81,900 $1.3M No change
SAFRF Safran SA 0.11% 3,943 $1.3M No change
AIQUF Air Liquide SA 0.10% 6,158 $1.3M No change
HST Host Hotels & Resorts Inc. 0.10% 82,000 $1.3M No change
BYDDY BYD Co. Ltd.-Unsponsored ADR 0.10% 13,348 $1.3M Add +4.3%
MPNGY Meituan - Unsp ADR 0.10% 36,915 $1.2M No change
PBR Petroleo Brasileiro-Spon ADR 0.10% 92,900 $1.2M Add +60.5%
TOL Toll Brothers Inc. 0.09% 10,000 $1.1M Add +23.5%
REGN Regeneron Pharmaceuticals 0.09% 2,170 $1.1M Add +33.1%
RYCEF Rolls-Royce Holdings PLC 0.09% 84,571 $1.1M Add +133.2%
MRSH Marsh & McLennan Cos 0.09% 5,060 $1.1M No change
CX Cemex Sab-Spons ADR Part Cer 0.09% 159,188 $1.1M No change
MGDDF Michelin (cgde) filed as CIE GENERALE DES ETABLISSEMENTS MICHELIN SCA 0.09% 29,068 $1.1M No change
WCN Waste Connections Inc. 0.09% 5,771 $1.1M No change
GSEFF Covivio 0.09% 16,818 $1.1M No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.09% 30,720 $1.0M No change
NVO Novo-Nordisk A/S-Spons ADR 0.08% 14,942 $1.0M No change
KT KT Corp.-SP ADR 0.08% 49,500 $1.0M No change
XYL Xylem Inc. 0.08% 7,950 $1.0M No change
HAL Halliburton Co. 0.08% 50,000 $1.0M Add +11.4%
DE Deere & Co. 0.08% 2,000 $1.0M No change
ELV Elevance Health Inc. 0.08% 2,600 $1.0M No change
CAH Cardinal Health Inc. 0.08% 6,000 $1.0M No change
GBDC Golub Capital BDC Inc. 0.08% 68,630 $1.0M Add +5.0%
RTX RTX Corp. 0.08% 6,798 $993K Add +142.7%
VEOEF Veolia Environnement 0.08% 27,845 $992K Add +178.4%
UNCFF Unicredit SPA 0.08% 14,696 $986K Reduce -9.1%
BIDU Baidu Inc. - Spon ADR 0.08% 11,400 $978K No change
BTAFF British American Tobacco PLC 0.08% 20,441 $972K No change
RLXXF Relx PLC 0.08% 17,956 $971K Reduce -4.4%
MDT Medtronic PLC 0.08% 11,100 $968K No change
IITSF Intesa Sanpaolo 0.08% 164,389 $948K No change
ALNY Alnylam Pharmaceuticals Inc. 0.08% 2,900 $946K No change
WM Waste Management Inc. 0.08% 4,090 $936K No change
AGI Alamos Gold Inc. Class A 0.08% 35,000 $930K No change
AMX America Movil Sab DE CV 0.08% 51,586 $925K No change
ABLZF Abb Ltd.-Reg 0.07% 15,103 $901K Reduce -15.6%
FNV Franco-Nevada Corp. 0.07% 5,460 $895K No change
IDCBY Ind & Comm BK of-Unspon ADR 0.07% 56,500 $888K No change
LIN Linde PLC 0.07% 1,892 $888K Add +10.1%
BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU 0.07% 53,500 $878K No change
AU Anglogold Ashanti PLC 0.07% 19,000 $866K No change
ENB Enbridge Inc. 0.07% 19,022 $862K No change
ZABKA GROUP SA 0.07% 139,143 $836K Add +441.3%
BMY Bristol-Myers Squibb Co. 0.07% 17,900 $829K No change
ISRG Intuitive Surgical Inc. 0.07% 1,516 $824K Add +82.9%
BBD Banco Bradesco-ADR 0.07% 265,618 $821K No change
AWK American Water Works Co. Inc. 0.07% 5,900 $821K No change
PNR Pentair PLC 0.07% 7,900 $811K No change
DGX Quest Diagnostics Inc. 0.07% 4,500 $808K No change
PROSF Prosus NV 0.07% 14,224 $796K No change
CVS CVS Health Corp. 0.07% 11,500 $793K No change
CHT Chunghwa Telecom LT-Spon ADR 0.06% 16,929 $789K No change
VCISF Vinci SA 0.06% 5,282 $779K No change
LEN Lennar Corp. Class A 0.06% 7,000 $774K Add +27.3%
HAS Hasbro Inc. 0.06% 10,200 $753K No change
LDNXF London Stock Exchange Group 0.06% 4,884 $713K No change
KEP Korea Elec Power Corp.-SP ADR 0.06% 48,200 $686K No change
SPGI S&P Global Inc. 0.06% 1,297 $684K New
BKNG Booking Holdings Inc. 0.06% 117 $677K No change
BACHY Bank of China-Unspn ADR 0.05% 45,500 $658K No change
OXY Occidental Petroleum Corp. 0.05% 15,600 $655K No change
AMAT Applied Materials Inc. 0.05% 3,481 $637K Add +3.0%
D Dominion Energy Inc. 0.05% 11,200 $633K No change
APA Apa Corp. 0.05% 34,000 $622K Add +19.8%
FINMF Leonardo SPA 0.05% 10,630 $598K New
HNHPF Hon Hai Precision-GDR Reg S 0.05% 55,000 $594K No change
PAAS Pan American Silver Corp. 0.05% 20,629 $586K No change
AXIS BANK LTD- GDR REG S 0.05% 8,350 $579K No change
TSLX Sixth Street Specialty Lendi 0.05% 24,084 $573K Add +4.5%
ILMN Illumina Inc. 0.05% 6,000 $572K Add +33.3%
BDX Becton Dickinson and Co. 0.05% 3,305 $569K No change
KMI Kinder Morgan Inc. 0.05% 18,960 $557K No change
ZBH Zimmer Biomet Holdings Inc. 0.05% 6,100 $556K No change
VOD Vodafone Group PLC-SP ADR 0.05% 51,807 $552K Add +445.3%
PKX Posco Holdings Inc. -Spon ADR 0.05% 11,380 $552K No change
MKL Markel Group Inc. 0.05% 275 $549K No change
ABEV Ambev SA-ADR 0.04% 221,750 $534K No change
FMCQF Fresenius Medical Care AG 0.04% 9,100 $519K No change
TCOM Trip.com Group Ltd.-ADR 0.04% 8,643 $507K Add +13.7%
DEO Diageo PLC-Sponsored ADR 0.04% 4,850 $489K No change
BTG B2GOLD Corp. 0.04% 135,000 $487K No change
FSLR First Solar Inc. 0.04% 2,904 $481K No change
LPL LG Display Co. Ltd.-ADR 0.04% 139,278 $476K No change
ELEZF Endesa SA 0.04% 14,637 $464K No change
GVDNY Givaudan-Unspon ADR 0.04% 4,700 $455K No change
RGLD Royal Gold Inc. 0.04% 2,500 $445K No change
DVN Devon Energy Corp. 0.04% 13,900 $442K No change
CLH Clean Harbors Inc. 0.03% 1,810 $418K No change
HCMLF Holcim Ltd. 0.03% 5,570 $414K Add +68.3%
GBOOY Grupo Fin Banorte-Spon ADR 0.03% 9,000 $412K No change
MSDL Morgan Stanley Direct Lendin 0.03% 21,922 $410K No change
VALE Vale SA-SP ADR 0.03% 42,100 $409K No change
TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA 0.03% 23,800 $403K No change
CIHKY China Merchants Bank-Uns ADR 0.03% 10,600 $371K No change
PSEC Prospect Capital Corp. 0.03% 116,251 $370K Add +5.7%
RHHBY Roche Holdings Ltd.-Spons ADR 0.03% 9,000 $367K No change
CFRHF Cie Financiere Richemo-A Reg 0.03% 1,894 $357K New
TPR Tapestry Inc. 0.03% 4,000 $351K No change
MRNA Moderna Inc. 0.03% 12,700 $350K Add +139.6%
GSBD Goldman Sachs BDC Inc. 0.03% 30,784 $346K Add +5.9%
TEVA Teva Pharmaceutical-SP ADR 0.03% 20,400 $342K No change
ED Consolidated Edison Inc. 0.03% 3,400 $341K No change
BNTX Biontech SE-ADR 0.03% 3,200 $341K Add +166.7%
KGSPF Kingspan Group PLC 0.03% 4,000 $340K No change
AIR ASTANA JSC - GDR 0.03% 60,661 $334K No change
FMX Fomento Economico Mex-SP ADR 0.03% 3,200 $330K No change
OCSL Oaktree Specialty Lending Co. 0.03% 23,020 $314K Add +10.1%
MFIC Midcap Financial Investment 0.03% 24,139 $305K Add +6.3%
AOMFF Alstom 0.02% 12,969 $303K No change
YUMC Yum China Holdings Inc. 0.02% 6,750 $302K No change
KEYS Keysight Technologies Inc. 0.02% 1,830 $300K No change
DBOEF Deutsche Boerse AG 0.02% 919 $300K No change
SMFG Sumitomo Mitsui-Spons ADR 0.02% 19,800 $299K No change
WMMVY Walmart DE Mexico-Spon ADR V 0.02% 8,900 $296K No change
KGC Kinross Gold Corp. 0.02% 18,567 $290K No change
SCGLF Societe Generale SA 0.02% 5,000 $286K No change
NMFC New Mountain Finance Corp. filed as NEW MTN FIN CORP 0.02% 26,672 $281K No change
CSWC Capital Southwest Corp. 0.02% 12,628 $278K No change
KBDC Kayne Anderson BDC Inc. 0.02% 18,184 $277K Add +5.5%
SFTBY Softbank Group Corp.-Unsp ADR 0.02% 7,600 $277K No change
AMRZ Amrize Ltd. 0.02% 5,570 $276K New
COR Cencora Inc. 0.02% 910 $273K No change
SKM SK Telecom Co. Ltd.-Spon ADR 0.02% 11,296 $264K No change
NMR Nomura Holdings Inc.-Spon ADR 0.02% 39,500 $260K No change
GGG Graco Inc. 0.02% 2,940 $253K No change
BLK BlackRock Inc. 0.02% 230 $241K No change
FELE Franklin Electric Co. Inc. 0.02% 2,661 $239K No change
APTV Aptiv PLC 0.02% 3,373 $230K No change
ORA Ormat Technologies Inc. 0.02% 2,690 $225K No change
K Kellanova 0.02% 2,800 $223K No change
LNNGY Li Ning Co. Ltd.-Unspon ADR 0.02% 4,000 $217K No change
ASAIY Sendas Distribuidora SA 0.02% 20,692 $214K No change
BAX Baxter International Inc. 0.02% 6,450 $195K No change
DTEGY Deutsche Telekom AG-Spon ADR 0.01% 5,000 $183K No change
KR Kroger Co. 0.01% 2,500 $179K No change
AIG American International Group 0.01% 2,000 $171K No change
ES Eversource Energy 0.01% 2,600 $165K No change
PRYMF Prysmian SPA 0.01% 2,300 $163K No change
TAK Takeda Pharmaceutic-SP ADR 0.01% 10,000 $155K No change
EGO Eldorado Gold Corp. 0.01% 7,600 $155K No change
IAG Iamgold Corp. 0.01% 20,000 $147K No change
HL Hecla Mining Co. 0.01% 23,000 $138K No change
MSI Motorola Solutions Inc. 0.01% 325 $137K No change
WXXWY Wuxi Biologics Cayman - ADR 0.01% 21,098 $134K No change
BP BP PLC-Spons ADR 0.01% 4,000 $120K New
EXE Expand Energy Corp. 0.01% 1,000 $117K No change
GLPEF Galp Energia SGPS SA 0.01% 5,780 $106K No change
OR Or Royalties Inc. 0.01% 4,000 $103K No change
SSDIY Samsung Sdi Co.-144A Regs GDR 0.01% 3,150 $100K No change
ET Energy Transfer LP 0.01% 5,330 $97K No change
IE Ivanhoe Electric Inc. / US 0.01% 10,612 $96K No change
PDD PDD Holdings Inc. 0.01% 900 $94K Reduce -93.6%
OGC Oceanagold Corp. 0.01% 6,666 $94K New
ENPH Enphase Energy Inc. 0.01% 2,300 $91K No change
KNTNF K92 Mining 0.01% 8,000 $90K No change
HBI Hanesbrands Inc. 0.01% 16,000 $73K No change
MRP Millrose Properties 0.01% 2,500 $71K No change
HMY Harmony Gold MNG-Spon ADR 0.01% 4,476 $63K No change
EQX Equinox Gold Corp. 0.00% 10,000 $58K No change
NIO Nio Inc. - ADR 0.00% 15,400 $53K No change
FSM Fortuna Mining Corp. 0.00% 8,000 $52K No change
DQ Daqo New Energy Corp.-ADR 0.00% 2,500 $38K No change
NGD New Gold Inc. 0.00% 7,033 $35K No change
SEDG Solaredge Technologies Inc. 0.00% 1,690 $34K No change
ENIC Enel Chile SA-ADR 0.00% 8,000 $29K No change
AG First Majestic Silver Corp. 0.00% 3,277 $27K No change
PLUG Plug Power Inc. 0.00% 18,000 $27K No change
CDE Coeur Mining Inc. 0.00% 2,992 $27K No change
BKRKY Bank Rakyat Indonesia-Un ADR 0.00% 1,834 $21K No change
DTGHF Daimler Truck Holding AG 0.00% 375 $18K No change
ELECTRICA SA-GDR-REG S filed as Societatea Energetica Electrica SA 0.00% 1,115 $15K No change
WBD Warner Bros Discovery Inc. 0.00% 374 $4K No change
WAB Wabtec Corp. 0.00% 1 $209 No change
DGWIY Duoyuan Global Water Inc.-ADR 0.00% 10,900 $0 No change
EXDSQ Exds Inc. 0.00% 92 $0 No change
SCNTQ Scient Inc. 0.00% 18 $0 No change

Portfolio Sells Q1 2025 → Q2 2025
RSP Invesco S&P 500 Equal Weight Reduce -11.0% 2.90% −0.62
CMG Chipotle Mexican Grill Inc. Sold out 0.00% −0.30
UNH Unitedhealth Group Inc. Reduce -0.1% 0.33% −0.30
XOM Exxon Mobil Corp. Reduce -25.2% 0.43% −0.29
GILD Gilead Sciences Inc. Reduce -20.4% 0.53% −0.23
CVX Chevron Corp. Reduce -18.5% 0.34% −0.21
THLEF Thales SA Reduce -26.4% 0.49% −0.19
ALLEGRO EU SA Reduce -19.7% 0.92% −0.17
PDD PDD Holdings Inc. Reduce -93.6% 0.01% −0.15
AMGN Amgen Inc. Reduce -15.9% 0.27% −0.14
JD Jd.com Inc.-ADR Reduce -33.2% 0.12% −0.13
OMVJF Omv AG Reduce -0.5% 1.58% −0.12
BABA Alibaba Group Holding-SP ADR Reduce -23.4% 0.16% −0.12
VRTX Vertex Pharmaceuticals Inc. Reduce -4.9% 0.38% −0.11
MA Mastercard Inc. Class A Reduce -2.3% 0.77% −0.10
PG The Procter & Gamble Co. Reduce -1.2% 0.43% −0.10
FDLPF Fondul Proprietatea SA Sold out 0.00% −0.10
EBAY eBay Inc. Reduce -16.7% 0.39% −0.09
SONY Sony Group Corp. - SP ADR Reduce -12.1% 0.31% −0.08
HTGC Hercules Capital Inc. Sold out 0.00% −0.08
SNYNF Sanofi Reduce -2.2% 0.24% −0.08
IDEXF Industria DE Diseno Textil Reduce -5.6% 0.50% −0.07
COP Conocophillips Reduce -2.4% 0.18% −0.07
NOVA LJUBLJANSKA B-GDR REG S Reduce -27.0% 0.19% −0.06
DHR Danaher Corp. Sold out 0.00% −0.04
BTGOF BT Group PLC Sold out 0.00% −0.04
NVSEF Novartis AG-Reg Reduce -11.8% 0.19% −0.03
WMT Walmart Inc. Reduce -5.5% 0.38% −0.03
PPRUF Kering Reduce -1.1% 0.30% −0.03
EEM iShares MSCI Emerging Market Sold out 0.00% −0.02
ABLZF Abb Ltd.-Reg Reduce -15.6% 0.07% −0.01
IBDSF Iberdrola SA Reduce -6.5% 0.50% −0.01
RLXXF Relx PLC Reduce -4.4% 0.08% −0.01
OGC Oceanagold Corp. Sold out 0.00% −0.01
SBGSF Schneider Electric SE Reduce -4.6% 0.31% −0.01
GOOGL Alphabet Inc. Class A Reduce -1.0% 0.85% −0.00
UNCFF Unicredit SPA Reduce -9.1% 0.08% −0.00
GRPN Groupon Inc. Reduce -35.4% 0.35% +0.01
ESOCF Enel SPA Reduce -0.5% 0.33% +0.01
EBKOF Erste Group Bank AG Reduce -7.5% 2.07% +0.02
GE General Electric Reduce -6.7% 0.41% +0.02
RNMBF Rheinmetall AG Reduce -0.5% 0.51% +0.11
MSFT Microsoft Corp. Reduce -2.0% 1.71% +0.22
AVGO Broadcom Inc. Reduce -0.4% 1.03% +0.32

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. Add +22.2% 2.01% +0.73
QQQ Invesco QQQ Trust Series 1 Add +57.0% 1.72% +0.66
AMD Advanced Micro Devices Add +13.7% 1.20% +0.33
VNNVF Vonovia SE Add +12.9% 1.15% +0.27
BAC Bank of America Corp. Add +58.9% 0.63% +0.23
IBB iShares Biotechnology ETF Add +35.0% 1.21% +0.18
DIS The Walt Disney Co. Add +8.5% 0.95% +0.16
EADSF Airbus SE Add +33.4% 0.51% +0.14
NFLX Netflix Inc. Add +2.0% 0.62% +0.14
MELI MercadoLibre Inc. Add +13.5% 0.54% +0.14
TSM Taiwan Semiconductor-SP ADR Add +4.5% 0.67% +0.14
SRPT Sarepta Therapeutics Inc. Add +5166.3% 0.15% +0.14
DELL Dell Technologies -C Add +36.4% 0.30% +0.12
INPOF Inpost SA Add +9.2% 1.31% +0.11
MAIN Main Street Capital Corp. New 0.11% +0.11
UBER Uber Technologies Inc. Add +13.7% 0.49% +0.11
SPOT Spotify Technology SA Add +7.0% 0.44% +0.11
META Meta Platforms Inc. Class A Add +2.9% 0.75% +0.10
AMZN Amazon.com Inc. Add +5.3% 1.52% +0.10
CSCO Cisco Systems Inc. Add +19.8% 0.61% +0.10
F Ford Motor Co. Add +40.0% 0.37% +0.09
HALYK BANK-GDR REG S Add +34.3% 0.62% +0.09
SSNHZ Samsung Electr-GDR Reg S Add +11.5% 0.84% +0.08
TEFOF Telefonica SA Add +31.5% 0.37% +0.08
INTC Intel Corp. Add +61.1% 0.27% +0.08
IBM Intl Business Machines Corp. Add +4.8% 0.83% +0.07
HSBC HSBC Holdings PLC-Spons ADR Add +25.0% 0.50% +0.07
TD Toronto-Dominion Bank Add +17.8% 0.32% +0.07
HIVE Hive Digital Technologies LT Add +45.4% 0.18% +0.07
TSLA Tesla Inc. Add +7.7% 0.47% +0.07
AXP American Express Co. Add +3.7% 0.84% +0.07
GS Goldman Sachs Group Inc. Add +2.4% 0.43% +0.06
JPM JPMorgan Chase & Co. Add +1.3% 1.17% +0.06
RYCEF Rolls-Royce Holdings PLC Add +133.2% 0.09% +0.06
GOOG Alphabet Inc. Class C Add +8.6% 0.70% +0.06
SPGI S&P Global Inc. New 0.06% +0.06
ZABKA GROUP SA Add +441.3% 0.07% +0.06
TERRF Terna-Rete Elettrica Naziona Add +87.0% 0.12% +0.06
BIIB Biogen Inc. Add +43.2% 0.40% +0.06
VEOEF Veolia Environnement Add +178.4% 0.08% +0.05
FINMF Leonardo SPA New 0.05% +0.05
RTX RTX Corp. Add +142.7% 0.08% +0.05
GEN Gen Digital Inc. Add +15.6% 0.41% +0.05
ELCPF Edp SA Add +17.4% 0.17% +0.04
RY Royal Bank of Canada Add +12.0% 0.30% +0.04
RSG Republic Services Inc. Add +57.9% 0.13% +0.04
SMAWF Siemens AG-Reg Add +5.6% 0.94% +0.04
VOD Vodafone Group PLC-SP ADR Add +445.3% 0.05% +0.04
NTOIF Neste Oyj Add +3.5% 0.13% +0.03
FDX FedEx Corp. Add +30.6% 0.45% +0.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 460$2.1BGMYYF, SPY, PSZKF, OTPBF, RSP
Q1 2026 450$1.9BGMYYF, SPY, PSZKF, RSP, OTPBF
Q4 2025 396$1.4BSPY, RSP, EBKOF, QQQ, OMVJF
Q3 2025 383$1.3BSPY, RSP, NVDA, EBKOF, QQQ
Q2 2025 383$1.2BSPY, RSP, EBKOF, NVDA, QQQ
Q1 2025 383$1.1BSPY, RSP, EBKOF, OMVJF, MSFT
Q4 2024 353$970.1MSPY, RSP, EBKOF, MSFT, IVV