FLOSSBACH VON STORCH SE Q2 2019 Filing

Filed August 6, 2019

Portfolio Value

$11.7B

Holdings

101

Report Date

Q2 2019

Filing Type

13F-HR

All Holdings (101 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	—2,250 LIBERTY MEDIA 30.09.2046	18,600,000	$5.0B	43.21%
2	BRK/BBERKSHIRE HATHAWAY B	6,198,011	$1.3B	11.32%
3	4I1PHILIP MORRIS INTERNAT.	16,737,168	$1.3B	11.27%
4	GOOGLALPHABET - CLASS A	835,850	$905.1M	7.76%
5	ABXBARRICK GOLD	50,518,434	$796.7M	6.83%
6	JNJJOHNSON & JOHNSON	5,609,313	$781.3M	6.70%
7	METAFACEBOOK	3,474,713	$670.6M	5.75%
8	MMM3M	3,809,045	$660.3M	5.66%
9	NEMNEWMONT GOLDCORP	15,661,762	$602.5M	5.16%
10	BKNGBOOKING HOLDINGS	270,106	$506.4M	4.34%
11	BABAALIBABA GROUP ADR	2,566,669	$434.9M	3.73%
12	AAPLAPPLE	1,868,348	$369.8M	3.17%
13	BLKCHFBLACKROCK	721,888	$338.8M	2.90%
14	ABTABBOTT LABORATORIES	3,145,505	$264.5M	2.27%
15	MSFTMICROSOFT	1,640,028	$219.7M	1.88%
16	CHKPCHECK POINT SOFTWARE	1,695,190	$196.0M	1.68%
17	DHRDANAHER	1,272,461	$181.9M	1.56%
18	MDTMEDTRONIC	1,689,950	$164.6M	1.41%
19	CTSHCOGNIZANT TECH SOLUTIONS	2,320,395	$147.1M	1.26%
20	ATVIEURACTIVISION BLIZZARD	2,834,113	$133.8M	1.15%
21	PANWPALO ALTO NETWORKS	500,849	$102.1M	0.87%
22	AMZNAMAZON.COM	52,371	$99.2M	0.85%
23	VVISA - CLASS A	562,897	$97.7M	0.84%
24	AEMAGNICO EAGLE MINES	1,695,200	$86.9M	0.74%
25	BDXBECTON DICKINSON	342,430	$86.3M	0.74%
26	EAELECTRONIC ARTS	744,647	$75.4M	0.65%
27	MAMASTERCARD	267,017	$70.6M	0.61%
28	TJXTJX COMPANIES	1,324,133	$70.0M	0.60%
29	IBMINTL. BUSINESS MACHINES	465,849	$64.2M	0.55%
30	HDBHDFC BANK ADR	478,504	$62.2M	0.53%
31	SPOTSPOTIFY TECHNOLOGY	395,711	$57.9M	0.50%
32	RHT1EURRED HAT	305,500	$57.4M	0.49%
33	PYPLPAYPAL	429,498	$49.2M	0.42%
34	BACVERIZON COMMUNICATIONS	658,509	$37.6M	0.32%
35	PEPPEPSICO	256,445	$33.6M	0.29%
36	WPWORLDPAY	265,675	$32.6M	0.28%
37	ADBEADOBE	108,867	$32.1M	0.27%
38	UNPUNION PACIFIC	176,150	$29.8M	0.26%
39	KOCOCA-COLA	584,984	$29.8M	0.26%
40	OXYOCCIDENTAL PETROLEUM	580,939	$29.2M	0.25%
41	PGPROCTER & GAMBLE	238,980	$26.2M	0.22%
42	SYKSTRYKER	115,413	$23.7M	0.20%
43	UBSUBS GROUP	1,950,330	$23.1M	0.20%
44	SLBSCHLUMBERGER	527,460	$21.0M	0.18%
45	FTVFORTIVE	254,500	$20.7M	0.18%
46	AMEAMETEK	210,200	$19.1M	0.16%
47	NKENIKE	214,641	$18.0M	0.15%
48	XOMEXXON MOBIL	224,160	$17.2M	0.15%
49	MCDMCDONALDS	73,993	$15.4M	0.13%
50	CRMSALESFORCE.COM	98,475	$14.9M	0.13%
51	CLCOLGATE-PALMOLIVE	204,691	$14.7M	0.13%
52	ROPROPER TECHNOLOGIES	38,000	$13.9M	0.12%
53	WMTWALMART	115,500	$12.8M	0.11%
54	QCOMQUALCOMM	147,500	$11.2M	0.10%
55	MRO*MARATHON OIL	753,300	$10.7M	0.09%
56	TPRTAPESTRY	299,275	$9.5M	0.08%
57	ALCALCON	152,500	$9.4M	0.08%
58	COPCONOCOPHILLIPS	147,000	$9.0M	0.08%
59	AMGNAMGEN	48,590	$9.0M	0.08%
60	EMREMERSON ELECTRIC	126,500	$8.4M	0.07%
61	JAZZ 1.5 08/15/241,500 JAZZ INVESTMENTS 15.08.2024	8,200,000	$8.1M	0.07%
62	KHCKRAFT HEINZ	251,855	$7.8M	0.07%
63	ROSTROSS STORES	77,845	$7.7M	0.07%
64	—0,350 BOOKING HOLDINGS 15.06.2020	5,000,000	$7.2M	0.06%
65	DISWALT DISNEY	51,000	$7.1M	0.06%
66	—1,000 NUANCE COMMUNICATIONS 15.12.2035	7,550,000	$7.1M	0.06%
67	TMOTHERMO FISHER SCIENTIFIC	21,788	$6.4M	0.05%
68	TSMTAIWAN SEMICONDUCTOR ADR	152,000	$6.0M	0.05%
69	SPGIS&P GLOBAL	25,169	$5.7M	0.05%
70	—0,900 BOOKING HOLDINGS 15.09.2021	5,000,000	$5.7M	0.05%
71	LOWLOWE'S COS	56,600	$5.7M	0.05%
72	LMCA 1.375 10/15/231,375 LIBERTY MEDIA 15.10.2023	5,000,000	$5.6M	0.05%
73	EXPEEXPEDIA GROUP	38,498	$5.1M	0.04%
74	MOALTRIA GROUP	107,980	$5.1M	0.04%
75	ORCLORACLE	89,390	$5.1M	0.04%
76	WFCWELLS FARGO	107,470	$5.1M	0.04%
77	AKAM 0.125 05/01/250,125 AKAMAI TECHNOLOGIES 01.05.2025	4,600,000	$4.9M	0.04%
78	—1,625 ON SEMICONDUCTOR 15.10.2023	3,900,000	$4.8M	0.04%
79	NEMNEWMONT GOLDCORP CALL	1,200	$4.6M	0.04%	Call
80	ELESTEE LAUDER	22,800	$4.2M	0.04%
81	FMXFEMSA ADR	29,000	$2.8M	0.02%
82	DDSDILLARDS	38,000	$2.4M	0.02%
83	—BARRICK GOLD CALL	1,500	$2.4M	0.02%	Call
84	NOVEURNATIONAL OILWELL VARCO	102,850	$2.3M	0.02%
85	MLB1MERCADOLIBRE	3,000	$1.8M	0.02%
86	BAPCREDICORP	7,250	$1.7M	0.01%
87	BRK-BBERKSHIRE HATHAWAY A	5	$1.6M	0.01%
88	STNESTONECO	35,000	$1.0M	0.01%
89	CHDCHURCH & DWIGHT	13,500	$986K	0.01%
90	UGRULTRAPAR ADR	170,000	$891K	0.01%
91	NTESNETEASE ADR	3,000	$767K	0.01%
92	ITUBITAU UNIBANCO ADR	80,000	$754K	0.01%
93	EBAEBAY	17,290	$683K	0.01%
94	ADPAUTOMATIC DATA PROCESSING	3,600	$595K	0.01%
95	HTHTHUAZHU GROUP ADR	10,000	$363K	0.00%
96	INTCINTEL	5,810	$278K	0.00%
97	—1,250 NUANCE COMMUNICATIONS 01.04.2025	260,000	$257K	0.00%
98	DISCAUSDDISCOVERY COMMUNICATIONS-A	8,110	$249K	0.00%
99	MDLZMONDELEZ INTERNATIONAL	4,000	$216K	0.00%
100	CSCOCISCO SYSTEMS	3,730	$204K	0.00%

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