MMBG Investment Advisors Co.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), MMBG Investment Advisors Co. reported 158 stock positions worth $941.6 million. Its top holding was Apple (AAPL) at 11.1% of the portfolio, followed by Amazon.com (AMZN, 7.9%) and Microsoft (MSFT, 7.8%). Compared with Q3 2024, it opened 9 new positions, sold out of 17, added to 26 and reduced 54. The biggest buy was Tencent Holdings Ltd.-Uns ADR (TCEHY, shares +48%) and the biggest sale iShares Biotechnology ETF (IBB, shares −46%).

Most Recent 13F
Q2 2026
Location
MIAMI, FL
CIK
0001765876
Portfolio Value
$941.6M (Q4 2024)
SEC Filing
0001765876-25-000001 ↗ filed Feb 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $948.1M Q1 2024 Q2 2024: $932.9M Q2 2024 Q3 2024: $958.3M Q3 2024 Q4 2024: $941.6M $941.6M Q4 2024 Q1 2025: $884.7M Q1 2025 Q2 2025: $1.0B Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $1.2B Q4 2025 Q1 2026: $1.1B Q1 2026 Q2 2026: $1.3B Q2 2026

Holdings 158 stocks · $941.6M
AAPL Apple Inc. 11.08% 416,792 $104.4M Reduce -0.6%
AMZN Amazon.com Inc. 7.94% 340,990 $74.8M Reduce -7.8%
MSFT Microsoft Corp. 7.80% 174,332 $73.5M Reduce -1.3%
GOOGL Alphabet Inc. Class A 6.34% 315,522 $59.7M Reduce -1.9%
META Meta Platforms Inc. Class A 5.30% 85,226 $49.9M Reduce -3.0%
BWMX Betterware DE Mexico Sapi DE 4.86% 4,090,782 $45.7M Add +0.7%
JPM JPMorgan Chase & Co. 3.72% 146,306 $35.1M Reduce -6.6%
XLV SS Health Care Select Sector 3.36% 229,854 $31.6M Reduce -1.4%
NVDA Nvidia Corp. 2.97% 208,056 $27.9M Reduce -16.4%
CRM Salesforce Inc. 2.59% 72,820 $24.3M Reduce -6.4%
GS Goldman Sachs Group Inc. 1.98% 32,611 $18.7M Add +0.6%
GOOG Alphabet Inc. Class C 1.82% 89,813 $17.1M Reduce -0.0%
SPY SS SPDR S&P 500 ETF Trust-US 1.62% 26,019 $15.2M Reduce -10.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.57% 133,131 $14.8M Reduce -22.0%
WMT Walmart Inc. 1.53% 159,546 $14.4M Reduce -4.9%
V Visa Inc. Class A 1.42% 42,238 $13.3M No change
XLF SS Financial Select Sector 1.35% 262,658 $12.7M Reduce -14.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.29% 275,613 $12.1M Reduce -22.7%
SHOP Shopify Inc. Class A 1.26% 111,895 $11.9M Reduce -0.4%
TCEHY Tencent Holdings Ltd.-Uns ADR 1.23% 217,390 $11.6M Add +47.9%
SMH Vaneck Semiconductor ETF 1.09% 42,372 $10.3M Reduce -0.6%
AVGO Broadcom Inc. 1.00% 40,648 $9.4M Add +1.9%
XLY SS Consumer Disc Select Sect 0.95% 39,761 $8.9M Reduce -24.4%
QQQ Invesco QQQ Trust Series 1 0.88% 16,250 $8.3M Reduce -9.8%
CX Cemex Sab-Spons ADR Part Cer 0.83% 1,389,427 $7.8M Add +51.0%
TMO Thermo Fisher Scientific Inc. 0.80% 14,501 $7.5M Add +1.3%
VOO Vanguard S&P 500 ETF 0.78% 13,602 $7.3M Reduce -33.8%
XLK SS Technology Select Sector 0.71% 28,690 $6.7M Reduce -5.8%
DHR Danaher Corp. 0.67% 27,385 $6.3M No change
UBER Uber Technologies Inc. 0.65% 101,335 $6.1M Add +12.9%
TSM Taiwan Semiconductor-SP ADR 0.63% 30,057 $5.9M Add +0.3%
STZ Constellation Brands Inc. Class A 0.62% 26,486 $5.9M Add +5.8%
IBB iShares Biotechnology ETF 0.59% 42,324 $5.6M Reduce -46.1%
BABA Alibaba Group Holding-SP ADR 0.59% 65,705 $5.6M Add +44.9%
SBUX Starbucks Corp. 0.59% 60,963 $5.6M Reduce -41.9%
MU Micron Technology Inc. 0.57% 64,000 $5.4M Reduce -38.8%
VGT Vanguard Info Tech ETF 0.57% 8,590 $5.3M Reduce -10.1%
DXJ Wisdomtree Japan Hedged Eq 0.54% 45,812 $5.1M Reduce -1.9%
MCD McDonald's Corp. 0.52% 16,949 $4.9M No change
UNH Unitedhealth Group Inc. 0.48% 8,991 $4.5M Reduce -0.8%
RTX RTX Corp. 0.44% 35,855 $4.1M Reduce -0.8%
ETN Eaton Corp. PLC 0.44% 12,440 $4.1M Add +3.7%
XLP SS Consumer Staples Sel Sect 0.43% 51,257 $4.0M No change
FDX FedEx Corp. 0.41% 13,839 $3.9M Reduce -31.4%
IYW iShares Ustechnology ETF 0.41% 24,053 $3.8M Reduce -50.8%
XLE SS Energy Select Sector 0.40% 43,885 $3.8M No change
MELI MercadoLibre Inc. 0.39% 2,168 $3.7M Add +67.5%
APO Apollo Global Management Inc. 0.38% 21,644 $3.6M No change
FMX Fomento Economico Mex-SP ADR 0.38% 41,723 $3.6M No change
COST Costco Wholesale Corp. 0.36% 3,724 $3.4M Add +10.0%
VGK Vanguard Ftse Europe ETF 0.33% 48,930 $3.1M Reduce -4.6%
NKE Nike Inc. Class B 0.30% 37,172 $2.8M Reduce -3.0%
PFE Pfizer Inc. 0.26% 91,408 $2.4M Reduce -2.9%
SPGI S&P Global Inc. 0.24% 4,575 $2.3M No change
MRK Merck & Co. Inc. 0.24% 22,563 $2.2M No change
AAXJ iShares MSCI All Country Asi 0.23% 30,660 $2.2M No change
SHY iShares 1-3 Year Treasury Bo 0.23% 26,254 $2.2M Add +20.0%
BRK.B Berkshire Hathaway Inc. Class B 0.23% 4,710 $2.1M Reduce -5.7%
IAU iShares Gold Trust 0.23% 42,900 $2.1M No change
IYJ iShares U.S. Industrials ETF 0.22% 15,600 $2.1M No change
SHV iShares 0-1 Year Treasury Bo 0.22% 18,780 $2.1M Reduce -42.7%
EWJ iShares MSCI Japan ETF 0.22% 30,499 $2.0M No change
ABBV Abbvie Inc. 0.21% 11,160 $2.0M No change
CDRO Codere Online Luxembourg SA 0.20% 295,700 $1.9M Reduce -7.5%
DE Deere & Co. 0.20% 4,425 $1.9M Add +5.4%
HD Home Depot Inc. 0.19% 4,645 $1.8M Reduce -16.7%
IYF iShares US Financials ETF 0.18% 15,701 $1.7M Reduce -6.9%
IVV iShares Core S&P 500 ETF 0.18% 2,924 $1.7M No change
IYH iShares U.S. Healthcare ETF 0.18% 29,125 $1.7M No change
IYT iShares US Transportation Et 0.17% 23,940 $1.6M No change
AMGN Amgen Inc. 0.17% 6,102 $1.6M No change
NVO Novo-Nordisk A/S-Spons ADR 0.16% 17,665 $1.5M New
VCSH Vanguard S/T Corp. Bond ETF 0.16% 19,108 $1.5M No change
BA The Boeing Co. 0.16% 8,311 $1.5M Add +15.2%
USIG iShares Broad Usd Investment 0.15% 27,795 $1.4M No change
IEMG iShares Core MSCI Emerging 0.14% 25,187 $1.3M Add +5.9%
HON Honeywell International Inc. 0.14% 5,664 $1.3M Reduce -53.7%
LULU Lululemon Athletica Inc. 0.13% 3,176 $1.2M Reduce -19.9%
PYPL PayPal Holdings Inc. 0.13% 14,176 $1.2M Reduce -17.4%
LLY Eli Lilly & Co. 0.13% 1,565 $1.2M New
FEZ State Street SPDR Euro Stoxx 0.13% 24,443 $1.2M Reduce -0.8%
EZU iShares MSCI Eurozone ETF 0.12% 24,620 $1.2M No change
STWD Starwood Property Trust Inc. 0.12% 58,615 $1.1M No change
EWG iShares MSCI Germany ETF 0.12% 34,200 $1.1M No change
TMUS T-Mobile US Inc. 0.11% 4,895 $1.1M No change
PFF iShares Preferred & Income S 0.11% 33,755 $1.1M No change
PANW Palo Alto Networks Inc. 0.11% 5,798 $1.1M Add +12.4%
HEDJ Wisdomtree Europe Hedged Equ 0.11% 23,140 $1.0M No change
VGSH Vanguard Short-Term Treasury 0.10% 16,615 $967K No change
IGSB iShares 1-5Y Inv Grade Corp. 0.10% 18,032 $932K Add +8.3%
LVS Las Vegas Sands Corp. 0.10% 17,560 $902K Reduce -53.4%
IHI iShares U.S. Medical Devices 0.09% 14,775 $862K No change
CMCSA Comcast Corp. Class A 0.09% 22,927 $860K No change
WM Waste Management Inc. 0.09% 4,260 $860K No change
VGIT Vanguard Intermediate-Term T 0.09% 14,793 $858K New
INTU Intuit Inc. 0.09% 1,345 $845K No change
SLQD iShares 0-5 YR Inv GRD Corp. 0.09% 16,964 $844K No change
SPSB SS SPDR P St C Corp. ETF 0.09% 28,080 $838K No change
ET Energy Transfer LP 0.09% 41,905 $821K No change
CFR Cullen/Frost Bankers Inc. 0.09% 6,070 $815K No change
EMB iShares JP Morgan Usd Emergi 0.08% 8,923 $795K Add +20.2%
IWF iShares Russell 1000 Growth 0.08% 1,969 $791K No change
XLI SS Industrial Select Sector 0.08% 5,955 $785K Reduce -6.2%
FLOT iShares Floating Rate Bond E 0.08% 15,000 $763K Reduce -10.2%
ASML ASML Holding NV-NY Reg SHS 0.08% 1,082 $750K Add +194.0%
CDNS Cadence Design SYS Inc. 0.08% 2,493 $749K Add +28.3%
FISV Fiserv Inc. 0.08% 3,450 $709K No change
SHYG iShares 0-5 YR HY Corp. Bond 0.07% 16,348 $697K No change
VWO Vanguard Ftse Emerging Marke 0.07% 15,336 $675K No change
B Barrick Gold Corp. 0.07% 43,200 $671K New
CVS CVS Health Corp. 0.07% 14,700 $660K Reduce -7.1%
IJH iShares Core S&P Midcap ETF 0.07% 10,590 $660K New
CRWD CrowdStrike Holdings Inc. Class A 0.07% 1,880 $643K No change
EEM iShares MSCI Emerging Market 0.07% 15,015 $628K Reduce -22.0%
XLC SS Comm Select Sector SPDR 0.07% 6,320 $612K Add +16.6%
TGT Target Corp. 0.06% 4,405 $595K Add +16.1%
IEV iShares Europe ETF 0.06% 11,000 $573K No change
IEF iShares 7-10 Year Treasury B 0.06% 5,899 $545K New
SPOT Spotify Technology SA 0.06% 1,200 $537K No change
TLT iShares 20+ Year Treasury BD 0.06% 6,086 $531K No change
USHY iShares Broad Usd High Yield 0.06% 14,440 $531K No change
TSLA Tesla Inc. 0.05% 1,265 $511K Reduce -15.3%
AZN Astrazeneca PLC-Spons ADR 0.05% 7,459 $489K Add +28.4%
F Ford Motor Co. filed as FORD MTR CO 0.05% 49,232 $487K No change
ONON On Holding AG Class A filed as ON HLDG AG 0.05% 8,695 $476K No change
EWH iShares MSCI Hong Kong ETF 0.05% 28,250 $471K Reduce -14.5%
JNJ Johnson & Johnson 0.05% 3,182 $460K No change
SNOW Snowflake Inc. 0.05% 2,864 $442K Reduce -29.0%
MMM 3M Co. 0.05% 3,370 $435K No change
CIBR First Trust Nasdaq Cybersecu 0.05% 6,836 $434K Reduce -41.9%
URBN Urban Outfitters Inc. 0.05% 7,815 $429K No change
TKO Tko Group Holdings Inc. 0.05% 3,005 $427K No change
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.04% 40,515 $420K New
GDX Vaneck Gold Miners ETF 0.04% 11,920 $404K No change
DELL Dell Technologies -C 0.04% 3,462 $399K Add +89.6%
CVX Chevron Corp. 0.04% 2,600 $377K No change
LMT Lockheed Martin Corp. 0.04% 750 $364K No change
IUSV iShares Core S&P U.S. Value 0.04% 3,919 $363K No change
IBOC International Bancshares CRP 0.04% 5,667 $358K No change
TLH iShares 10-20 Year Treasury 0.04% 3,488 $347K No change
QCOM Qualcomm Inc. 0.04% 2,230 $343K Reduce -18.3%
NVS Novartis AG-Sponsored ADR 0.04% 3,492 $340K Reduce -30.2%
IXJ iShares Global Healthcare Et 0.04% 3,900 $335K No change
CHRW C.H. Robinson Worldwide Inc. 0.04% 3,200 $331K No change
MBB iShares MBS ETF 0.03% 3,551 $326K No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.03% 4,125 $324K No change
BOTZ Global X Robotics & Artifici 0.03% 10,000 $320K No change
KO The Coca-Cola Co. 0.03% 4,934 $307K No change
PEP Pepsico Inc. 0.03% 2,000 $304K No change
MINT PIMCO Enhanced Short Maturit 0.03% 3,010 $302K Reduce -9.1%
C Citigroup Inc. 0.03% 4,250 $299K No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.03% 3,193 $292K No change
VYM Vanguard High DVD Yield ETF 0.03% 2,260 $288K No change
MDT Medtronic PLC 0.03% 3,480 $278K No change
REGN Regeneron Pharmaceuticals 0.03% 370 $264K New
FDN First Trust DJ Internet Ind 0.03% 1,070 $260K No change
IEI iShares 3-7 Year Treasury Bo 0.03% 440 $253K New
XLB SS Materials Select Sector 0.02% 2,500 $210K No change

Portfolio Sells Q3 2024 → Q4 2024
IBB iShares Biotechnology ETF Reduce -46.1% 0.59% −0.60
MU Micron Technology Inc. Reduce -38.8% 0.57% −0.56
SBUX Starbucks Corp. Reduce -41.9% 0.59% −0.48
XLV SS Health Care Select Sector Reduce -1.4% 3.36% −0.39
IYW iShares Ustechnology ETF Reduce -50.8% 0.41% −0.37
VOO Vanguard S&P 500 ETF Reduce -33.8% 0.78% −0.35
BAC Bank of America Corp. Reduce -22.7% 1.29% −0.19
NVDA Nvidia Corp. Reduce -16.4% 2.97% −0.19
FDX FedEx Corp. Reduce -31.4% 0.41% −0.16
SHV iShares 0-1 Year Treasury Bo Reduce -42.7% 0.22% −0.16
XLY SS Consumer Disc Select Sect Reduce -24.4% 0.95% −0.15
DIS The Walt Disney Co. Reduce -22.0% 1.57% −0.14
GM General Motors Co. Sold out 0.00% −0.13
SPY SS SPDR S&P 500 ETF Trust-US Reduce -10.9% 1.62% −0.13
HON Honeywell International Inc. Reduce -53.7% 0.14% −0.13
MSFT Microsoft Corp. Reduce -1.3% 7.80% −0.13
XLF SS Financial Select Sector Reduce -14.3% 1.35% −0.10
LVS Las Vegas Sands Corp. Reduce -53.4% 0.10% −0.10
IXN iShares Global Tech ETF Sold out 0.00% −0.09
UNH Unitedhealth Group Inc. Reduce -0.8% 0.48% −0.07
CDRO Codere Online Luxembourg SA Reduce -7.5% 0.20% −0.06
EPP iShares MSCI Pacific Ex Japa Sold out 0.00% −0.06
NKE Nike Inc. Class B Reduce -3.0% 0.30% −0.05
VGK Vanguard Ftse Europe ETF Reduce -4.6% 0.33% −0.05
SOFI Sofi Technologies Inc. Sold out 0.00% −0.04
HD Home Depot Inc. Reduce -16.7% 0.19% −0.04
GMF State Street SPDR S&P Emergi Sold out 0.00% −0.04
SUSA iShares ESG Optimized MSCI U Sold out 0.00% −0.04
DIA SS SPDR Dow Jones Indus Avg Sold out 0.00% −0.04
BIIB Biogen Inc. Sold out 0.00% −0.04
QQQ Invesco QQQ Trust Series 1 Reduce -9.8% 0.88% −0.03
CVS CVS Health Corp. Reduce -7.1% 0.07% −0.03
QCLN First Trust Nasdaq Clean Edg Sold out 0.00% −0.03
RSP Invesco S&P 500 Equal Weight Sold out 0.00% −0.03
PFE Pfizer Inc. Reduce -2.9% 0.26% −0.03
CIBR First Trust Nasdaq Cybersecu Reduce -41.9% 0.05% −0.03
FCX Freeport-McMoran Inc. Sold out 0.00% −0.03
EEM iShares MSCI Emerging Market Reduce -22.0% 0.07% −0.03
NVS Novartis AG-Sponsored ADR Reduce -30.2% 0.04% −0.02
FVD First Trust Value Line DVD Sold out 0.00% −0.02
UL Unilever PLC Sold out 0.00% −0.02
CCAP Crescent Capital BDC Inc. Sold out 0.00% −0.02
ENPH Enphase Energy Inc. Sold out 0.00% −0.02
ISHARES INC Sold out 0.00% −0.02
ROBO Robo Global Robotics and Aut Sold out 0.00% −0.02
VGT Vanguard Info Tech ETF Reduce -10.1% 0.57% −0.02
RTX RTX Corp. Reduce -0.8% 0.44% −0.02
EWH iShares MSCI Hong Kong ETF Reduce -14.5% 0.05% −0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -5.7% 0.23% −0.01
QCOM Qualcomm Inc. Reduce -18.3% 0.04% −0.01

Portfolio Buys Q3 2024 → Q4 2024
TCEHY Tencent Holdings Ltd.-Uns ADR Add +47.9% 1.23% +0.38
GS Goldman Sachs Group Inc. Add +0.6% 1.98% +0.31
AVGO Broadcom Inc. Add +1.9% 1.00% +0.28
CX Cemex Sab-Spons ADR Part Cer Add +51.0% 0.83% +0.25
NVO Novo-Nordisk A/S-Spons ADR New 0.16% +0.16
LLY Eli Lilly & Co. New 0.13% +0.13
MELI MercadoLibre Inc. Add +67.5% 0.39% +0.11
VGIT Vanguard Intermediate-Term T New 0.09% +0.09
BABA Alibaba Group Holding-SP ADR Add +44.9% 0.59% +0.09
TSM Taiwan Semiconductor-SP ADR Add +0.3% 0.63% +0.09
B Barrick Gold Corp. New 0.07% +0.07
IJH iShares Core S&P Midcap ETF New 0.07% +0.07
IEF iShares 7-10 Year Treasury B New 0.06% +0.06
COST Costco Wholesale Corp. Add +10.0% 0.36% +0.05
ASML ASML Holding NV-NY Reg SHS Add +194.0% 0.08% +0.05
NU Nu Holdings Ltd./Cayman Isl-A New 0.04% +0.04
BA The Boeing Co. Add +15.2% 0.16% +0.04
SHY iShares 1-3 Year Treasury Bo Add +20.0% 0.23% +0.04
REGN Regeneron Pharmaceuticals New 0.03% +0.03
IEI iShares 3-7 Year Treasury Bo New 0.03% +0.03
CDNS Cadence Design SYS Inc. Add +28.3% 0.08% +0.02
ETN Eaton Corp. PLC Add +3.7% 0.44% +0.02
PANW Palo Alto Networks Inc. Add +12.4% 0.11% +0.02
DELL Dell Technologies -C Add +89.6% 0.04% +0.02
DE Deere & Co. Add +5.4% 0.20% +0.02
XLC SS Comm Select Sector SPDR Add +16.6% 0.07% +0.01
EMB iShares JP Morgan Usd Emergi Add +20.2% 0.08% +0.01
IGSB iShares 1-5Y Inv Grade Corp. Add +8.3% 0.10% +0.01
AZN Astrazeneca PLC-Spons ADR Add +28.4% 0.05% +0.00
TGT Target Corp. Add +16.1% 0.06% +0.00
IEMG iShares Core MSCI Emerging Add +5.9% 0.14% −0.00
STZ Constellation Brands Inc. Class A Add +5.8% 0.62% −0.05
UBER Uber Technologies Inc. Add +12.9% 0.65% −0.06
TMO Thermo Fisher Scientific Inc. Add +1.3% 0.80% −0.12
BWMX Betterware DE Mexico Sapi DE Add +0.7% 4.86% −0.52

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 177$1.3BAAPL, GOOGL, AMZN, MSFT, BWMX
Q1 2026 172$1.1BAAPL, GOOGL, AMZN, MSFT, BWMX
Q4 2025 177$1.2BAAPL, GOOGL, MSFT, AMZN, BWMX
Q3 2025 179$1.1BAAPL, MSFT, AMZN, GOOGL, META
Q2 2025 178$1.0BMSFT, AAPL, AMZN, META, GOOGL
Q1 2025 168$884.7MAAPL, AMZN, MSFT, GOOGL, BWMX
Q4 2024 158$941.6MAAPL, AMZN, MSFT, GOOGL, META
Q3 2024 166$958.3MAAPL, MSFT, AMZN, GOOGL, BWMX
Q2 2024 152$932.9MAAPL, MSFT, AMZN, BWMX, GOOGL
Q1 2024 160$948.1MBWMX, MSFT, AAPL, AMZN, META