FLOSSBACH VON STORCH SE Q4 2019 Filing

Filed February 11, 2020

Portfolio Value

$14.7B

Holdings

109

Report Date

Q4 2019

Filing Type

13F-HR

All Holdings (109 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	4I1PHILIP MORRIS INTERNAT.	18,549,934	$1.6B	10.71%
2	BRK/BBERKSHIRE HATHAWAY B	6,845,427	$1.6B	10.53%
3	JNJJOHNSON & JOHNSON	7,904,484	$1.2B	7.83%
4	GOOGLALPHABET - CLASS A	793,001	$1.1B	7.21%
5	MMM3M	5,822,643	$1.0B	6.97%
6	ABXBARRICK GOLD	51,807,557	$963.1M	6.54%
7	METAFACEBOOK	3,839,151	$788.0M	5.35%
8	NEMNEWMONT	12,805,700	$556.4M	3.78%
9	BABAALIBABA GROUP ADR	2,389,286	$506.8M	3.44%
10	AAPLAPPLE	1,404,683	$412.5M	2.80%
11	PINSPINTEREST	22,022,939	$410.5M	2.79%
12	BLKCHFBLACKROCK	678,114	$340.9M	2.31%
13	MSFTMICROSOFT	1,890,015	$298.1M	2.02%
14	ABTABBOTT LABORATORIES	3,302,893	$286.9M	1.95%
15	CHKPCHECK POINT SOFTWARE	2,233,365	$247.8M	1.68%
16	DHRDANAHER	1,446,805	$222.1M	1.51%
17	PYPLPAYPAL	2,021,745	$218.7M	1.48%
18	ATVIEURACTIVISION BLIZZARD	3,226,334	$191.7M	1.30%
19	MDTMEDTRONIC	1,678,180	$190.4M	1.29%
20	BKNGBOOKING HOLDINGS	92,620	$190.2M	1.29%
21	FTVFORTIVE	2,173,060	$166.0M	1.13%
22	AMZNAMAZON.COM	81,520	$150.6M	1.02%
23	CTSHCOGNIZANT TECH SOLUTIONS	2,261,280	$140.2M	0.95%
24	CSCOCISCO SYSTEMS	2,859,486	$137.1M	0.93%
25	VVISA - CLASS A	653,602	$122.8M	0.83%
26	BDXBECTON DICKINSON	431,505	$117.4M	0.80%
27	CRMSALESFORCE.COM	702,068	$114.2M	0.78%
28	ADBEADOBE	324,027	$106.9M	0.73%
29	PANW 0.75 07/01/230,750 PALO ALTO NETWORKS 01.07.2023	95,050,000	$105.3M	0.72%
30	MAMASTERCARD	328,533	$98.1M	0.67%
31	PANWPALO ALTO NETWORKS	384,204	$88.8M	0.60%
32	ROPROPER TECHNOLOGIES	245,100	$86.8M	0.59%
33	AEMAGNICO EAGLE MINES	1,237,300	$76.2M	0.52%
34	EAELECTRONIC ARTS	682,904	$73.4M	0.50%
35	TJXTJX COMPANIES	1,109,031	$67.7M	0.46%
36	HDBHDFC BANK ADR	1,013,158	$64.2M	0.44%
37	—1,000 CTRIP.COM 01.07.2020	64,200,000	$63.6M	0.43%
38	SPOTSPOTIFY TECHNOLOGY	388,420	$58.1M	0.39%
39	UBERUBER TECHNOLOGIES	1,725,500	$51.3M	0.35%
40	BACVERIZON COMMUNICATIONS	674,122	$41.4M	0.28%
41	PEPPEPSICO	273,352	$37.4M	0.25%
42	KOCOCA-COLA	637,976	$35.3M	0.24%
43	UNPUNION PACIFIC	188,890	$34.1M	0.23%
44	SYKSTRYKER	142,759	$30.0M	0.20%
45	TMOTHERMO FISHER SCIENTIFIC	89,308	$29.0M	0.20%
46	NKENIKE	256,751	$26.0M	0.18%
47	IBMINTL. BUSINESS MACHINES	183,995	$24.7M	0.17%
48	PGPROCTER & GAMBLE	191,258	$23.9M	0.16%
49	AMEAMETEK	237,900	$23.7M	0.16%
50	SLBSCHLUMBERGER	550,973	$22.1M	0.15%
51	MCDMCDONALDS	95,493	$18.9M	0.13%
52	SPGIS&P GLOBAL	65,762	$18.0M	0.12%
53	ELESTEE LAUDER	81,020	$16.7M	0.11%
54	XOMEXXON MOBIL	215,189	$15.0M	0.10%
55	WMTWALMART	113,424	$13.5M	0.09%
56	MDLZMONDELEZ INTERNATIONAL	219,964	$12.1M	0.08%
57	INTUINTUIT	40,300	$10.6M	0.07%
58	COPCONOCOPHILLIPS	161,500	$10.5M	0.07%
59	ROSTROSS STORES	88,240	$10.3M	0.07%
60	EMREMERSON ELECTRIC	132,094	$10.1M	0.07%
61	JAZZ 1.5 08/15/241,500 JAZZ INVESTMENTS 15.08.2024	9,800,000	$9.9M	0.07%
62	NFLXNETFLIX	30,074	$9.7M	0.07%
63	TPRTAPESTRY	358,575	$9.7M	0.07%
64	TSMTAIWAN SEMICONDUCTOR ADR	165,500	$9.6M	0.07%
65	CLCOLGATE-PALMOLIVE	129,993	$8.9M	0.06%
66	ALCALCON	152,500	$8.6M	0.06%
67	—0,250 TWITTER 15.06.2024	8,800,000	$8.5M	0.06%
68	KHCKRAFT HEINZ	248,005	$8.0M	0.05%
69	DISWALT DISNEY	51,000	$7.4M	0.05%
70	LOWLOWE'S COS	61,590	$7.4M	0.05%
71	VSH 2.25 06/15/252,250 VISHAY INTERTECHNOLOGY 15.06.2025	6,200,000	$6.3M	0.04%
72	ADPAUTOMATIC DATA PROCESSING	35,419	$6.0M	0.04%
73	MOALTRIA GROUP	118,980	$5.9M	0.04%
74	WFCWELLS FARGO	108,020	$5.8M	0.04%
75	AKAM 0.125 05/01/250,125 AKAMAI TECHNOLOGIES 01.05.2025	4,700,000	$5.2M	0.04%
76	OXYOCCIDENTAL PETROLEUM	125,000	$5.2M	0.03%
77	FISFIDELITY NATIONAL INFO SERVICE	36,730	$5.1M	0.03%
78	—1,625 ON SEMICONDUCTOR 15.10.2023	3,600,000	$5.0M	0.03%
79	NEMNEWMONT GOLDCORP CALL	1,090	$4.7M	0.03%	Call
80	—1,000 TWITTER 15.09.2021	3,800,000	$3.7M	0.03%
81	—BARRICK GOLD CALL	1,930	$3.6M	0.02%	Call
82	CHDCHURCH & DWIGHT	50,995	$3.6M	0.02%
83	EXPEEXPEDIA GROUP	32,998	$3.6M	0.02%
84	—0,250 WORKDAY 01.10.2022	2,750,000	$3.5M	0.02%
85	FMXFEMSA ADR	36,000	$3.4M	0.02%
86	MLB1MERCADOLIBRE	5,500	$3.1M	0.02%
87	QCOMQUALCOMM	35,200	$3.1M	0.02%
88	WDC 1.5 02/01/241,500 WESTERN DIGITAL 01.02.2024	3,000,000	$3.0M	0.02%
89	BAPCREDICORP	8,500	$1.8M	0.01%
90	SESEA ADR	45,000	$1.8M	0.01%
91	BRK-BBERKSHIRE HATHAWAY A	5	$1.7M	0.01%
92	ITUBITAU UNIBANCO ADR	175,000	$1.6M	0.01%
93	STNESTONECO	36,000	$1.4M	0.01%
94	ORCLORACLE	23,631	$1.3M	0.01%
95	AMGNAMGEN	4,490	$1.1M	0.01%
96	HTHTHUAZHU GROUP ADR	20,000	$801K	0.01%
97	EBAEBAY	17,290	$624K	0.00%
98	DESPDESPEGAR.COM	42,500	$573K	0.00%
99	UBSUBS GROUP	38,715	$489K	0.00%
100	PANWPALO ALTO NETWORKS CALL	20	$463K	0.00%	Call

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