FLOSSBACH VON STORCH SE Q4 2017 Filing

Filed February 7, 2018

Portfolio Value

$10.5B

Holdings

102

Report Date

Q4 2017

Filing Type

13F-HR

All Holdings (102 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	BRK/BBERKSHIRE HATHAWAY B	6,560,571	$1.3T	12430.34%
2	GOOGLALPHABET - CLASS A	665,394	$700.9B	6699.86%
3	4I1PHILIP MORRIS INTL.	6,612,322	$698.6B	6677.56%
4	DHRDANAHER	6,764,501	$627.9B	6001.66%
5	ABTABBOTT LABORATORIES	9,080,680	$518.2B	4953.59%
6	BKNGPRICELINE GROUP	262,682	$456.5B	4363.24%
7	ABXBARRICK GOLD	30,419,688	$440.2B	4207.42%
8	—MONSANTO	3,595,314	$419.9B	4013.28%
9	IBMIBM	2,701,356	$414.4B	3961.48%
10	TJXTJX COMPANIES	5,065,875	$387.3B	3702.40%
11	—VANTIV CLASS A	5,247,346	$385.9B	3689.06%
12	NEMNEWMONT MINING	8,500,271	$318.9B	3048.52%
13	UTXZUNITED TECHNOLOGIES	2,114,253	$269.7B	2578.10%
14	LOWLOWE'S COS	2,642,550	$245.6B	2347.58%
15	ROSTROSS STORES	3,058,616	$245.5B	2346.19%
16	—MICHAEL KORS	3,800,247	$239.2B	2286.66%
17	GISGENERAL MILLS	3,622,280	$214.8B	2052.85%
18	MDTMEDTRONIC	2,574,631	$207.9B	1987.24%
19	MSFTMICROSOFT	2,418,602	$206.9B	1977.55%
20	OXYOCCIDENTAL PETROLEUM	2,240,020	$165.0B	1577.17%
21	JNJJOHNSON & JOHNSON	1,158,760	$161.9B	1547.55%
22	METAFACEBOOK	915,745	$161.6B	1544.59%
23	EAELECTRONICS ARTS	1,330,500	$139.8B	1336.12%
24	AMZNAMAZON.COM	95,270	$111.4B	1064.97%
25	MAMASTERCARD	723,175	$109.5B	1046.28%
26	LBEURL BRANDS	1,630,190	$98.2B	938.37%
27	NKENIKE	1,532,550	$95.9B	916.30%
28	—GOLDCORP	5,983,720	$76.4B	730.39%
29	VVISA - CLASS A	647,100	$73.8B	705.25%
30	ORCLORACLE	1,505,825	$71.2B	680.52%
31	BACVERIZON COMMUNICATIONS	1,283,020	$67.9B	649.12%
32	KELKELLOGG	875,250	$59.5B	568.73%
33	SLBSCHLUMBERGER	688,200	$46.4B	443.31%
34	MMM3M	177,480	$41.8B	399.29%
35	KOCOCA-COLA	879,490	$40.4B	385.70%
36	CLCOLGATE-PALMOLIVE	513,675	$38.8B	370.46%
37	AEMAGNICO EAGLE MINES	830,600	$38.4B	366.64%
38	TPRTAPESTRY	864,650	$38.2B	365.55%
39	FTVFORTIVE	513,845	$37.2B	355.36%
40	PYPLPAYPAL	445,175	$32.8B	313.27%
41	—MONSANTO CALL	2,740	$32.0B	305.86%	Call
42	EXPEEXPEDIA	259,680	$31.1B	297.29%
43	CTSHCOGNIZANT TECH SOLUTIONS	343,530	$24.4B	233.21%
44	AAPLAPPLE	140,295	$23.7B	226.94%
45	AMGNAMGEN	131,400	$22.9B	218.41%
46	—2,250 LIBERTY MEDIA 30.09.2046	21,000,000	$21.9B	209.53%
47	QCOMQUALCOMM	325,000	$20.8B	198.89%
48	PGPROCTER & GAMBLE	199,940	$18.4B	175.59%
49	EBAEBAY	442,290	$16.7B	159.55%
50	EMREMERSON ELECTRIC	217,700	$15.2B	145.02%
51	UNPUNION PACIFIC	107,070	$14.4B	137.24%
52	XOMEXXON MOBIL	164,140	$13.7B	131.23%
53	ELESTEE LAUDER	106,605	$13.6B	129.65%
54	MRO*MARATHON OIL	800,000	$13.5B	129.46%
55	COPCONOCOPHILLIPS	233,800	$12.8B	122.67%
56	AMEAMETEK	146,371	$10.6B	101.40%
57	—1,250 CTRIP.COM 15.09.2022	9,500,000	$9.8B	93.28%
58	LMCA 1.375 10/15/231,375 LIBERTY MEDIA 15.10.2023	8,000,000	$9.3B	88.43%
59	NOVEURNATIONAL OILWELL VARCO	247,350	$8.9B	85.17%
60	WFCWELLS FARGO	143,810	$8.7B	83.40%
61	—0,900 PRICELINE 15.09.2021	7,000,000	$8.2B	78.82%
62	CHDCHURCH & DWIGHT	161,400	$8.1B	77.40%
63	TMOTHERMO FISHER SCIENTIFIC	40,060	$7.6B	72.71%
64	MCDMCDONALDS	43,428	$7.5B	71.45%
65	WMTWAL-MART STORES	70,610	$7.0B	66.65%
66	—1,000 NUANCE COMMUNICATIONS 15.12.2035	7,000,000	$6.7B	64.17%
67	TSMTAIWAN SEMICONDUCTOR ADR	154,500	$6.1B	58.56%
68	—1,875 JAZZ INVESTMENTS 15.08.2021	6,000,000	$6.1B	58.05%
69	DISWALT DISNEY	51,000	$5.5B	52.41%
70	—LIBERTY INTERACTIVE A	210,000	$5.1B	49.02%
71	—2,000 MACQUARIE INFRASTRUCTURE 01.10.2023	4,250,000	$4.1B	39.31%
72	NEMNEWMONT MINING CALL	1,000	$3.8B	35.86%	Call
73	EXPEEXPEDIA CALL	300	$3.6B	34.34%	Call
74	BIDUNBAIDU ADR	15,250	$3.6B	34.14%
75	QCOMQUALCOMM CALL	450	$2.9B	27.54%	Call
76	—BARRICK GOLD CALL	1,900	$2.7B	26.28%	Call
77	GOOGLALPHABET - CLASS A CALL	25	$2.6B	25.18%	Call
78	—1,000 CTRIP.COM 01.07.2020	2,000,000	$2.1B	20.24%
79	ABEVAMBEV ADR	250,000	$1.6B	15.44%
80	FMXFEMSA ADR	17,000	$1.6B	15.26%
81	MOALTRIA GROUP	22,000	$1.6B	15.02%
82	BABAALIBABA	8,750	$1.5B	14.42%
83	FDSFACTSET RESEARCH SYSTEMS	7,650	$1.5B	14.10%
84	—0,350 PRICELINE 15.06.2020	1,000,000	$1.4B	13.25%
85	DDSDILLARDS	20,000	$1.2B	11.48%
86	BRK-BBERKSHIRE HATHAWAY A	4	$1.2B	11.37%
87	UGRULTRAPAR ADR	50,000	$1.1B	10.87%
88	NTESNETEASE ADR	3,250	$1.1B	10.72%
89	CHLUSDCHINA MOBILE ADR	20,340	$1.0B	9.83%
90	BAPCREDICORP	4,500	$933.0M	8.92%
91	ROPROPER TECHNOLOGIES	3,500	$907.0M	8.67%
92	YUMYUM! BRANDS	10,400	$849.0M	8.12%
93	INFYINFOSYS ADR	46,240	$750.0M	7.17%
94	GGALGRUPO SANTANDER MEXICO ADR	100,000	$731.0M	6.99%
95	CSCOCISCO SYSTEMS	16,340	$626.0M	5.98%
96	MLB1MERCADOLIBRE	1,500	$472.0M	4.51%
97	JDJD.COM ADR	7,500	$311.0M	2.97%
98	GILDGILEAD SCIENCES	3,770	$270.0M	2.58%
99	GEGENERAL ELECTRIC	14,560	$254.0M	2.43%
100	DISCAUSDDISCOVERY COMMUNICATIONS-A	9,780	$219.0M	2.09%

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