LGT Fund Management Co Ltd.

Name: LGT Fund Management Co Ltd. 13F holdings, Q2 2025
Creator: LGT Fund Management Co Ltd.
Published: 2025-07-22

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 22, 2025), LGT Fund Management Co Ltd. reported 232 stock positions worth $1.1 billion. Its top holding was Microsoft (MSFT) at 6.3% of the portfolio, followed by Nvidia (NVDA, 5.0%) and Amazon.com (AMZN, 4.8%). Compared with Q1 2025, it opened 30 new positions, sold out of 31, added to 85 and reduced 77. The biggest buy was PayPal (PYPL, shares +533%) and the biggest sale Unitedhealth (UNH, shares −93%).

Most Recent 13F: Q2 2026
Location: VADUZ, N2
CIK: 0001911284
Portfolio Value: $1.1B (Q2 2025)
SEC Filing: 0001911284-25-000007 ↗ filed Jul 22, 2025

Holdings Value

Holdings 232 stocks · $1.1B


MSFT Microsoft Corp.	6.34%	145,476	$72.4M	Reduce -9.0%
NVDA Nvidia Corp.	4.99%	360,832	$57.0M	Reduce -2.7%
AMZN Amazon.com Inc.	4.84%	252,038	$55.3M	Reduce -1.3%
V Visa Inc. Class A	3.35%	107,659	$38.2M	Reduce -8.6%
BRK.B Berkshire Hathaway Inc. Class B	3.35%	78,618	$38.2M	Add +13.2%
AAPL Apple Inc.	2.84%	157,989	$32.4M	Add +0.3%
GOOGL Alphabet Inc. Class A	2.53%	163,785	$28.9M	Reduce -8.5%
META Meta Platforms Inc. Class A	2.46%	38,076	$28.1M	Add +3.5%
LLY Eli Lilly & Co.	2.33%	34,117	$26.6M	Add +20.1%
KO The Coca-Cola Co.	2.18%	351,797	$24.9M	Add +6.4%
CRM Salesforce Inc.	1.77%	73,955	$20.2M	Add +9.1%
SPGI S&P Global Inc.	1.74%	37,553	$19.8M	Add +18.7%
BLK BlackRock Inc.	1.73%	18,792	$19.7M	Reduce -4.1%
GOOG Alphabet Inc. Class C	1.69%	108,616	$19.3M	Add +23.6%
ABT Abbott Laboratories	1.58%	132,970	$18.1M	No change
AMT American Tower Corp.	1.49%	76,886	$17.0M	Add +7.0%
AVGO Broadcom Inc.	1.43%	59,232	$16.3M	Reduce -50.0%
JPM JPMorgan Chase & Co.	1.39%	54,715	$15.9M	Add +57.6%
PYPL PayPal Holdings Inc.	1.24%	189,800	$14.1M	Add +532.7%
TSM Taiwan Semiconductor-SP ADR	1.07%	54,007	$12.2M	Reduce -31.1%
BN Brookfield Corp.	0.97%	178,635	$11.1M	Reduce -9.4%
PG The Procter & Gamble Co.	0.96%	69,108	$11.0M	Reduce -8.4%
BKNG Booking Holdings Inc.	0.96%	1,891	$10.9M	Reduce -32.7%
SPOT Spotify Technology SA	0.95%	14,090	$10.8M	Add +146.3%
HCA HCA Healthcare Inc.	0.92%	27,420	$10.5M	Add +0.3%
UBER Uber Technologies Inc.	0.91%	111,087	$10.4M	Add +33.9%
VRSN Verisign Inc.	0.88%	34,929	$10.1M	Add +2.2%
BRK.A Berkshire Hathaway Inc. Class A	0.83%	13	$9.5M	No change
MCO Moody's Corp.	0.83%	18,813	$9.4M	No change
MA Mastercard Inc. Class A	0.82%	16,560	$9.3M	Add +17.9%
CME Cme Group Inc.	0.81%	33,359	$9.2M	Add +26.9%
AER Aercap Holdings NV	0.78%	75,904	$8.9M	Reduce -11.1%
FTNT Fortinet Inc.	0.76%	82,126	$8.7M	Reduce -42.6%
CB Chubb Ltd.	0.76%	29,760	$8.6M	Reduce -26.9%
UBS UBS Group AG-Reg	0.72%	244,036	$8.3M	Reduce -28.5%
ICE Intercontinental Exchange Inc.	0.60%	37,232	$6.8M	Reduce -42.2%
MRK Merck & Co. Inc.	0.57%	81,724	$6.5M	Add +14.3%
HD Home Depot Inc.	0.56%	17,584	$6.4M	Add +5.7%
VEEV Veeva Systems Inc. Class A	0.56%	22,037	$6.3M	Reduce -43.7%
PGR Progressive Corp.	0.54%	23,286	$6.2M	Reduce -37.3%
WM Waste Management Inc.	0.53%	26,607	$6.1M	Add +30.1%
CP Canadian Pacific Kansas City	0.53%	76,388	$6.1M	Reduce -5.8%
TMUS T-Mobile US Inc.	0.53%	25,225	$6.0M	Add +31.1%
DB Deutsche Bank AG-Registered	0.51%	200,000	$5.8M	New
SNX TD Synnex Corp.	0.50%	42,169	$5.7M	Add +75.7%
PEP Pepsico Inc.	0.50%	43,303	$5.7M	Add +121.5%
BSX Boston Scientific Corp.	0.49%	52,466	$5.6M	Reduce -10.0%
NYT New York Times Co. Class A	0.49%	100,049	$5.6M	Reduce -41.0%
PM Philip Morris International	0.48%	30,353	$5.5M	Add +31.6%
COP Conocophillips	0.47%	60,337	$5.4M	Reduce -24.8%
POST Post Holdings Inc. filed as POST HLDGS INC	0.46%	48,269	$5.3M	No change
RBLX Roblox Corp. Class A	0.43%	47,100	$5.0M	New
ETN Eaton Corp. PLC	0.42%	13,550	$4.8M	Add +36.8%
EFX Equifax Inc.	0.42%	18,300	$4.7M	Reduce -14.8%
BBD Banco Bradesco-ADR	0.42%	1,534,819	$4.7M	Add +12.5%
T AT&T Inc.	0.41%	163,600	$4.7M	New
ULS Ul Solutions Inc. Class A	0.41%	63,500	$4.6M	New
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.40%	96,473	$4.6M	Reduce -61.5%
CAH Cardinal Health Inc.	0.40%	27,100	$4.6M	Add +26.9%
WFC Wells Fargo & Co.	0.39%	55,885	$4.5M	Reduce -27.5%
ELV Elevance Health Inc.	0.39%	11,400	$4.4M	No change
INTU Intuit Inc.	0.38%	5,499	$4.3M	Reduce -15.4%
EXEL Exelixis Inc.	0.37%	97,005	$4.3M	Add +27.9%
LGIH Lgi Homes Inc.	0.37%	81,081	$4.2M	Add +6.4%
PANW Palo Alto Networks Inc.	0.36%	20,047	$4.1M	Add +3.5%
XOM Exxon Mobil Corp.	0.35%	37,046	$4.0M	Add +31.8%
BILI Bilibili Inc.-Sponsored ADR	0.35%	185,700	$4.0M	Add +10.4%
FAST Fastenal Co.	0.34%	93,505	$3.9M	Reduce -50.6%
FCX Freeport-McMoran Inc.	0.34%	89,862	$3.9M	Add +1028.6%
YOU Clear Secure Inc. Class A	0.34%	138,100	$3.8M	Add +33.6%
SFM Sprouts Farmers Market Inc.	0.33%	23,200	$3.8M	Add +26.5%
LRCX Lam Research Corp.	0.33%	38,620	$3.8M	Add +120.6%
CALM Cal-Maine Foods Inc.	0.33%	37,500	$3.7M	Add +28.0%
COR Cencora Inc.	0.32%	12,323	$3.7M	Add +15.6%
LRN Stride Inc.	0.32%	25,250	$3.7M	Add +29.5%
FSLR First Solar Inc.	0.32%	22,130	$3.7M	Reduce -17.8%
MCK McKesson Corp.	0.32%	4,933	$3.6M	Add +15.4%
VERX Vertex Inc. Class A	0.31%	101,360	$3.6M	Add +15.6%
WINA Winmark Corp.	0.31%	9,460	$3.6M	New
STLA Stellantis NV	0.31%	355,041	$3.6M	No change
INCY Incyte Corp.	0.31%	52,200	$3.6M	New
RELY Remitly Global Inc.	0.31%	189,150	$3.6M	Add +31.4%
XPEV Xpeng Inc. - ADR	0.31%	197,700	$3.5M	New
ORCL Oracle Corp.	0.30%	15,452	$3.4M	Add +245.4%
CL Colgate-Palmolive Co.	0.29%	36,720	$3.3M	Add +13.6%
AZO AutoZone Inc.	0.29%	894	$3.3M	Add +17.5%
MO Altria Group Inc.	0.29%	56,200	$3.3M	Add +16.3%
WMT Walmart Inc.	0.28%	32,864	$3.2M	Reduce -52.6%
GILD Gilead Sciences Inc.	0.27%	28,135	$3.1M	Add +14.0%
TMO Thermo Fisher Scientific Inc.	0.27%	7,642	$3.1M	Add +8.5%
KGC Kinross Gold Corp.	0.27%	194,900	$3.0M	Add +28.4%
PPC Pilgrim's Pride Corp.	0.26%	66,400	$3.0M	Add +31.0%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO	0.26%	9,145	$2.9M	Add +20.3%
BMY Bristol-Myers Squibb Co.	0.26%	63,104	$2.9M	Add +6.8%
ROP Roper Technologies Inc.	0.26%	5,146	$2.9M	Reduce -58.5%
C Citigroup Inc.	0.25%	34,028	$2.9M	Reduce -54.6%
RYAN Ryan Specialty Holdings Inc.	0.25%	42,600	$2.9M	Add +14.3%
NEE Nextera Energy Inc.	0.25%	41,445	$2.9M	Add +23.1%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.25%	31,500	$2.9M	Reduce -8.8%
SHW The Sherwin-Williams Co.	0.25%	8,358	$2.9M	Reduce -66.7%
CPRT Copart Inc.	0.25%	57,604	$2.8M	Add +49.3%
CYBR Cyberark Software Ltd./Israel	0.25%	6,912	$2.8M	Reduce -73.0%
AZN Astrazeneca PLC-Spons ADR	0.24%	39,958	$2.8M	Add +33.8%
CAT Caterpillar Inc.	0.24%	7,071	$2.7M	Add +34.7%
ADBE Adobe Inc.	0.23%	6,913	$2.7M	Reduce -22.5%
ACN Accenture PLC Class A	0.23%	8,945	$2.7M	Reduce -23.3%
ALC Alcon Inc. filed as ALCON AG	0.23%	29,721	$2.6M	Add +175.2%
PLD Prologis Inc.	0.23%	24,852	$2.6M	Add +48.7%
AMAT Applied Materials Inc.	0.23%	14,215	$2.6M	Reduce -5.5%
NOW ServiceNow Inc.	0.23%	2,529	$2.6M	Reduce -61.4%
AME Ametek Inc.	0.22%	13,988	$2.5M	Reduce -56.3%
MDT Medtronic PLC	0.22%	28,520	$2.5M	No change
ANET Arista Networks Inc.	0.22%	24,287	$2.5M	New
MELI MercadoLibre Inc.	0.21%	937	$2.4M	Reduce -9.0%
MCD McDonald's Corp.	0.21%	8,265	$2.4M	Reduce -86.9%
EMR Emerson Electric Co.	0.21%	17,650	$2.4M	Add +63.9%
MDLZ Mondelez International Inc. Class A	0.20%	34,579	$2.3M	Reduce -51.9%
CASY Casey's General Stores Inc.	0.20%	4,500	$2.3M	Add +28.6%
RACE Ferrari NV	0.20%	4,675	$2.3M	Add +177.4%
DG Dollar General Corp.	0.20%	19,830	$2.3M	No change
CDNS Cadence Design SYS Inc.	0.19%	7,062	$2.2M	Add +101.8%
MSCI MSCI Inc.	0.19%	3,738	$2.2M	Reduce -7.0%
NFLX Netflix Inc.	0.19%	1,595	$2.1M	Add +246.7%
ALHC Alignment Healthcare Inc.	0.19%	151,500	$2.1M	New
ABNB Airbnb Inc. Class A	0.19%	16,000	$2.1M	No change
XYL Xylem Inc.	0.18%	15,948	$2.1M	Reduce -7.1%
AWK American Water Works Co. Inc.	0.18%	14,729	$2.0M	Add +144.4%
NKE Nike Inc. Class B	0.18%	28,700	$2.0M	Reduce -7.9%
ORLY O'reilly Automotive Inc.	0.18%	22,545	$2.0M	Add +23.4%
HON Honeywell International Inc.	0.18%	8,669	$2.0M	Add +229.5%
SYK Stryker Corp.	0.17%	4,901	$1.9M	Add +23.5%
ABBV Abbvie Inc.	0.17%	10,368	$1.9M	Reduce -30.7%
ADP Automatic Data Processing	0.17%	6,200	$1.9M	Add +77.1%
DHR Danaher Corp.	0.16%	9,530	$1.9M	Reduce -9.9%
MNST Monster Beverage Corp.	0.16%	30,000	$1.9M	New
CSGP Costar Group Inc.	0.16%	23,121	$1.9M	Reduce -43.5%
HALO Halozyme Therapeutics Inc.	0.15%	33,600	$1.7M	New
ISRG Intuitive Surgical Inc.	0.15%	3,063	$1.7M	Add +98.9%
SCHW Schwab (charles) Corp.	0.14%	18,129	$1.7M	Add +229.4%
COMP Compass Inc. Class A	0.14%	260,000	$1.6M	New
ROL Rollins Inc.	0.14%	28,000	$1.6M	Add +40.0%
CVX Chevron Corp.	0.14%	10,999	$1.6M	Add +38.6%
AFL Aflac Inc.	0.13%	14,536	$1.5M	Add +644.7%
JNJ Johnson & Johnson	0.13%	9,904	$1.5M	Add +99.3%
AON Aon PLC Class A	0.12%	3,895	$1.4M	Reduce -45.9%
SCI Service Corp. International	0.12%	17,000	$1.4M	New
CMG Chipotle Mexican Grill Inc.	0.12%	23,446	$1.3M	Reduce -9.1%
ARES Ares Management Corp. Class A	0.11%	7,500	$1.3M	No change
VZLA Vizsla Silver Corp.	0.10%	400,000	$1.2M	No change
MEDP Medpace Holdings Inc.	0.10%	3,640	$1.1M	Add +130.4%
TT Trane Technologies PLC	0.09%	2,434	$1.1M	Reduce -2.5%
UNH Unitedhealth Group Inc.	0.08%	3,050	$952K	Reduce -92.6%
RIO Rio Tinto PLC-Spon ADR	0.08%	16,174	$943K	Add +65.1%
CRWD CrowdStrike Holdings Inc. Class A	0.08%	1,830	$932K	No change
FISV Fiserv Inc.	0.08%	5,043	$869K	New
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.08%	6,957	$863K	Reduce -13.7%
URI United Rentals Inc.	0.07%	1,120	$844K	No change
WCN Waste Connections Inc.	0.07%	4,500	$841K	Reduce -16.7%
WSO Watsco Inc.	0.07%	1,900	$839K	Add +40.7%
EQX Equinox Gold Corp.	0.07%	140,000	$805K	New
MKL Markel Group Inc.	0.07%	397	$793K	New
MRSH Marsh & McLennan Cos	0.07%	3,554	$777K	Add +58.7%
AMD Advanced Micro Devices	0.07%	5,264	$747K	Reduce -83.4%
UNP Union Pacific Corp.	0.07%	3,233	$744K	New
INFY Infosys Ltd.-SP ADR	0.06%	39,579	$733K	New
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.06%	5,900	$729K	No change
QCOM Qualcomm Inc.	0.06%	4,376	$697K	Reduce -5.5%
AEM Agnico Eagle Mines Ltd.	0.06%	5,700	$680K	No change
SO The Southern Co.	0.06%	7,195	$661K	Reduce -13.7%
KDP Keurig Dr Pepper Inc.	0.06%	19,830	$656K	New
VRSK Verisk Analytics Inc.	0.06%	2,092	$652K	New
BABA Alibaba Group Holding-SP ADR	0.06%	5,700	$646K	Reduce -53.5%
CSCO Cisco Systems Inc.	0.06%	9,187	$637K	No change
AXP American Express Co.	0.05%	1,920	$612K	No change
ZTS Zoetis Inc.	0.05%	3,656	$570K	Add +9.5%
OC Owens Corning	0.05%	4,145	$570K	Reduce -45.9%
EOG EOG Resources Inc.	0.05%	4,741	$567K	No change
PFE Pfizer Inc.	0.05%	23,050	$559K	Reduce -47.1%
NXPI NXP Semiconductors NV	0.05%	2,500	$546K	Reduce -19.0%
FIS Fidelity National Info Serv	0.05%	6,664	$543K	Reduce -31.6%
MS Morgan Stanley	0.05%	3,838	$541K	Reduce -52.0%
TTWO Take-Two Interactive Softwre	0.05%	2,175	$528K	Add +20.2%
DHI D.R. Horton Inc.	0.05%	4,040	$521K	No change
CEG Constellation Energy	0.05%	1,600	$516K	No change
PODD Insulet Corp.	0.04%	1,570	$493K	No change
TXN Texas Instruments Inc.	0.04%	2,324	$483K	No change
LOGI Logitech International-Reg	0.04%	5,227	$471K	Add +66.3%
APH Amphenol Corp. Class A	0.04%	4,700	$464K	No change
SBUX Starbucks Corp.	0.04%	4,993	$458K	Add +108.7%
ADI Analog Devices Inc.	0.04%	1,890	$450K	Reduce -26.9%
VZ Verizon Communications Inc.	0.04%	10,057	$435K	Add +20.3%
PINS Pinterest Inc. Class A	0.04%	11,191	$401K	New
WELL Welltower Inc.	0.03%	2,568	$395K	Reduce -75.5%
RSG Republic Services Inc.	0.03%	1,600	$395K	Reduce -74.8%
HWM Howmet Aerospace Inc.	0.03%	2,078	$387K	Reduce -31.6%
NVT Nvent Electric PLC	0.03%	4,982	$365K	No change
SYF Synchrony Financial	0.03%	5,458	$364K	No change
ECL Ecolab Inc.	0.03%	1,312	$354K	Reduce -78.9%
COST Costco Wholesale Corp.	0.03%	355	$351K	Reduce -84.9%
MRVL Marvell Technology Inc.	0.03%	4,475	$346K	New
COF Capital One Financial Corp.	0.03%	1,600	$340K	No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.03%	1,063	$313K	No change
GLW Corning Inc.	0.03%	5,906	$311K	No change
BKR Baker Hughes Co.	0.03%	8,098	$310K	New
REGN Regeneron Pharmaceuticals	0.03%	575	$302K	Reduce -12.6%
P Everpure Inc. Class A filed as PURE STORAGE INC	0.03%	5,201	$299K	No change
SLM SLM Corp.	0.03%	9,023	$296K	Reduce -18.1%
IDXX Idexx Laboratories Inc.	0.03%	550	$295K	Reduce -6.8%
RMD Resmed Inc.	0.03%	1,130	$292K	Reduce -9.6%
AAUC Allied Gold Corp.	0.02%	20,000	$269K	New
BURL Burlington Stores Inc.	0.02%	1,147	$267K	Add +26.2%
AKAM Akamai Technologies Inc.	0.02%	3,325	$265K	No change
A Agilent Technologies Inc.	0.02%	2,240	$264K	No change
MWA Mueller Water Products Inc. Class A	0.02%	10,582	$254K	No change
NDAQ Nasdaq Inc.	0.02%	2,810	$251K	Reduce -87.5%
LNG Cheniere Energy Inc.	0.02%	1,000	$244K	No change
ROST Ross Stores Inc.	0.02%	1,900	$242K	Reduce -46.7%
MPC Marathon Petroleum Corp.	0.02%	1,453	$241K	No change
FITB Fifth Third Bancorp	0.02%	5,839	$240K	Reduce -32.2%
ZBH Zimmer Biomet Holdings Inc.	0.02%	2,627	$240K	No change
TEAM Atlassian Corp. Class A	0.02%	1,174	$238K	No change
O Realty Income Corp.	0.02%	3,942	$227K	No change
NTAP Netapp Inc.	0.02%	2,124	$226K	New
WPM Wheaton Precious Metals Corp.	0.02%	2,500	$225K	New
MU Micron Technology Inc.	0.02%	1,800	$222K	New
EQIX Equinix Inc.	0.02%	276	$220K	No change
APP AppLovin Corp. Class A	0.02%	600	$210K	New
HIG Hartford Insurance Group Inc.	0.02%	1,653	$210K	No change
LOW Lowe's Cos Inc.	0.02%	935	$207K	Reduce -32.3%
ZS Zscaler Inc.	0.02%	650	$204K	New
AMCR Amcor PLC	0.01%	14,761	$136K	New
NFGC New Found Gold Corp.	0.01%	40,000	$57K	No change

Other holdings (2): bonds, preferreds, convertibles and warrants · $1.6M (not counted above)

Security	Class	Shares / Principal	Value	Change
LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27)	NOTE 1.750% 1/1 · principal	1,500,000	$1.3M	Add +15.4%
ALBEMARLE CORP (ALB 7.25 03/01/27)	7.25% DEP SHS A	9,500	$305K	No change

Total filed on the 13F, all lines: $1.1B.

Portfolio Sells Q1 2025 → Q2 2025


UNH Unitedhealth Group Inc.	Reduce -92.6%	0.08%	−1.87
MCD McDonald's Corp.	Reduce -86.9%	0.21%	−1.57
BAC Bank of America Corp.	Reduce -61.5%	0.40%	−0.55
SHW The Sherwin-Williams Co.	Reduce -66.7%	0.25%	−0.54
CYBR Cyberark Software Ltd./Israel	Reduce -73.0%	0.25%	−0.54
FTNT Fortinet Inc.	Reduce -42.6%	0.76%	−0.49
ICE Intercontinental Exchange Inc.	Reduce -42.2%	0.60%	−0.41
PGR Progressive Corp.	Reduce -37.3%	0.54%	−0.41
ROP Roper Technologies Inc.	Reduce -58.5%	0.26%	−0.41
V Visa Inc. Class A	Reduce -8.6%	3.35%	−0.39
AVGO Broadcom Inc.	Reduce -50.0%	1.43%	−0.37
CB Chubb Ltd.	Reduce -26.9%	0.76%	−0.36
FAST Fastenal Co.	Reduce -50.6%	0.34%	−0.32
COP Conocophillips	Reduce -24.8%	0.47%	−0.29
BERY Berry Global Group Inc.	Sold out	0.00%	−0.28
MMM 3M Co.	Sold out	0.00%	−0.28
AME Ametek Inc.	Reduce -56.3%	0.22%	−0.28
NYT New York Times Co. Class A	Reduce -41.0%	0.49%	−0.27
WMT Walmart Inc.	Reduce -52.6%	0.28%	−0.27
VEEV Veeva Systems Inc. Class A	Reduce -43.7%	0.56%	−0.26
KMB Kimberly-Clark Corp.	Sold out	0.00%	−0.26
GRMN Garmin Ltd.	Sold out	0.00%	−0.25
TSN Tyson Foods Inc. Class A	Sold out	0.00%	−0.24
NOW ServiceNow Inc.	Reduce -61.4%	0.23%	−0.24
MDLZ Mondelez International Inc. Class A	Reduce -51.9%	0.20%	−0.24
CI The Cigna Group	Sold out	0.00%	−0.23
BRBR Bellring Brands Inc.	Sold out	0.00%	−0.23
AMD Advanced Micro Devices	Reduce -83.4%	0.07%	−0.23
C Citigroup Inc.	Reduce -54.6%	0.25%	−0.23
EAT Brinker International Inc.	Sold out	0.00%	−0.22
UBS UBS Group AG-Reg	Reduce -28.5%	0.72%	−0.22
BKNG Booking Holdings Inc.	Reduce -32.7%	0.96%	−0.21
PG The Procter & Gamble Co.	Reduce -8.4%	0.96%	−0.20
SRE Sempra	Sold out	0.00%	−0.19
CTAS Cintas Corp.	Sold out	0.00%	−0.19
CNK Cinemark Holdings Inc.	Sold out	0.00%	−0.19
UTHR United Therapeutics Corp.	Sold out	0.00%	−0.19
COST Costco Wholesale Corp.	Reduce -84.9%	0.03%	−0.17
AON Aon PLC Class A	Reduce -45.9%	0.12%	−0.14
NDAQ Nasdaq Inc.	Reduce -87.5%	0.02%	−0.13
CSGP Costar Group Inc.	Reduce -43.5%	0.16%	−0.13
ABBV Abbvie Inc.	Reduce -30.7%	0.17%	−0.12
JCI Johnson Controls Internation	Sold out	0.00%	−0.11
ECL Ecolab Inc.	Reduce -78.9%	0.03%	−0.11
WELL Welltower Inc.	Reduce -75.5%	0.03%	−0.11
WFC Wells Fargo & Co.	Reduce -27.5%	0.39%	−0.11
TSM Taiwan Semiconductor-SP ADR	Reduce -31.1%	1.07%	−0.11
RSG Republic Services Inc.	Reduce -74.8%	0.03%	−0.10
ACN Accenture PLC Class A	Reduce -23.3%	0.23%	−0.10
BABA Alibaba Group Holding-SP ADR	Reduce -53.5%	0.06%	−0.09

Portfolio Buys Q1 2025 → Q2 2025


PYPL PayPal Holdings Inc.	Add +532.7%	1.24%	+1.06
SPOT Spotify Technology SA	Add +146.3%	0.95%	+0.66
JPM JPMorgan Chase & Co.	Add +57.6%	1.39%	+0.62
META Meta Platforms Inc. Class A	Add +3.5%	2.46%	+0.54
DB Deutsche Bank AG-Registered	New	0.51%	+0.51
GOOG Alphabet Inc. Class C	Add +23.6%	1.69%	+0.45
RBLX Roblox Corp. Class A	New	0.43%	+0.43
T AT&T Inc.	New	0.41%	+0.41
ULS Ul Solutions Inc. Class A	New	0.41%	+0.41
UBER Uber Technologies Inc.	Add +33.9%	0.91%	+0.36
FCX Freeport-McMoran Inc.	Add +1028.6%	0.34%	+0.31
WINA Winmark Corp.	New	0.31%	+0.31
INCY Incyte Corp.	New	0.31%	+0.31
XPEV Xpeng Inc. - ADR	New	0.31%	+0.31
SPGI S&P Global Inc.	Add +18.7%	1.74%	+0.28
SNX TD Synnex Corp.	Add +75.7%	0.50%	+0.28
ORCL Oracle Corp.	Add +245.4%	0.30%	+0.24
PEP Pepsico Inc.	Add +121.5%	0.50%	+0.24
ANET Arista Networks Inc.	New	0.22%	+0.22
LRCX Lam Research Corp.	Add +120.6%	0.33%	+0.21
LLY Eli Lilly & Co.	Add +20.1%	2.33%	+0.21
ALHC Alignment Healthcare Inc.	New	0.19%	+0.19
ETN Eaton Corp. PLC	Add +36.8%	0.42%	+0.18
CME Cme Group Inc.	Add +26.9%	0.81%	+0.17
MNST Monster Beverage Corp.	New	0.16%	+0.16
HALO Halozyme Therapeutics Inc.	New	0.15%	+0.15
PM Philip Morris International	Add +31.6%	0.48%	+0.15
NFLX Netflix Inc.	Add +246.7%	0.19%	+0.15
COMP Compass Inc. Class A	New	0.14%	+0.14
BBD Banco Bradesco-ADR	Add +12.5%	0.42%	+0.14
ALC Alcon Inc.	Add +175.2%	0.23%	+0.14
RACE Ferrari NV	Add +177.4%	0.20%	+0.14
CAH Cardinal Health Inc.	Add +26.9%	0.40%	+0.13
HON Honeywell International Inc.	Add +229.5%	0.18%	+0.13
EXEL Exelixis Inc.	Add +27.9%	0.37%	+0.12
SCI Service Corp. International	New	0.12%	+0.12
CRM Salesforce Inc.	Add +9.1%	1.77%	+0.12
MA Mastercard Inc. Class A	Add +17.9%	0.82%	+0.12
AFL Aflac Inc.	Add +644.7%	0.13%	+0.11
CDNS Cadence Design SYS Inc.	Add +101.8%	0.19%	+0.11
SCHW Schwab (charles) Corp.	Add +229.4%	0.14%	+0.11
WM Waste Management Inc.	Add +30.1%	0.53%	+0.10
EMR Emerson Electric Co.	Add +63.9%	0.21%	+0.10
AWK American Water Works Co. Inc.	Add +144.4%	0.18%	+0.10
VRSN Verisign Inc.	Add +2.2%	0.88%	+0.10
LRN Stride Inc.	Add +29.5%	0.32%	+0.10
KGC Kinross Gold Corp.	Add +28.4%	0.27%	+0.09
YOU Clear Secure Inc. Class A	Add +33.6%	0.34%	+0.09
CALM Cal-Maine Foods Inc.	Add +28.0%	0.33%	+0.09
CAT Caterpillar Inc.	Add +34.7%	0.24%	+0.08

Notes & Other Activity Q1 2025 → Q2 2025


PDD HOLDINGS INC (PDD 0 12/01/25)	NOTE 12/0 · principal	Sold out	2,000,000	$2.0Mbefore exit
LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27)	NOTE 1.750% 1/1 · principal	Add +15.4%	1,500,000	$1.3M
OKTA INC (OKTA 0.125 09/01/25)	NOTE 0.125% 9/0 · principal	Sold out	1,000,000	$979Kbefore 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	235	$2.4B	AAPL, NVDA, MSFT, GOOGL, AVGO
Q1 2026	242	$2.3B	AAPL, NVDA, MSFT, GOOGL, AMZN
Q4 2025	218	$1.3B	MSFT, AMZN, NVDA, AAPL, GOOGL
Q3 2025	233	$1.2B	MSFT, NVDA, AMZN, AAPL, GOOGL
Q2 2025	232	$1.1B	MSFT, NVDA, AMZN, V, BRK.B
Q1 2025	233	$1.1B	MSFT, AMZN, V, NVDA, BRK.B
Q4 2024	243	$1.1B	MSFT, AMZN, NVDA, AAPL, V
Q3 2024	213	$962.8M	MSFT, AMZN, NVDA, AAPL, V
Q2 2024	196	$801.2M	MSFT, AMZN, GOOGL, BRK.B, V
Q1 2024	127	$239.0M	MSFT, GOOGL, BRK.B, LLY, AMZN