Total reported value
$21.4B
Reporting period: 2026-03-31 · Number of holdings: 109
FLOSSBACH VON STORCH SE disclosed 109 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $21.4B and a quarterly turnover rate of 21.7%.
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Add SPGI
+97.0% $222.1M
Trim GOOGL
-16.2% -$430.0M
Add INTU
+1888.5% $137.6M
Trim APH
-23.5% -$280.3M
Add FTV
+5.3% $33.8M
Trim ACN
-8.1% -$221.4M
Flossbach von Storch is rotating capital out of established mega-cap growth names like GOOGL, AMZN, and TMO while adding to SPGI and edging up Microsoft. This is a profit-taking and repositioning move, not a defensive posture — they are shifting weights within the same bullish bet on financials and tech, not fleeing to safety.
Flossbach's heavy combined exposure to Financials, IT, and Consumer Discretionary — over 61% of the portfolio — signals a confident bet on continued economic expansion with benign rates. The add to SPGI, a pure play on bond issuance and capital markets health, prices in sustained credit market activity. The opposing thesis is a macro slowdown or credit freeze that would hit both the cyclical sectors and the portfolio's momentum-driven core simultaneously.
The 100 on the momentum-contrarian personality score reveals a structural vulnerability: this portfolio is a momentum fund in disguise. With a momentum tilt of +0.76 and 109 names that all must be riding recent winners, the entire strategy is hyper-sensitive to a momentum crash. If the factor mean-reverts, the diversification across sectors won't save it — the common exposure to the momentum factor will concentrate the pain.
Produced with AI assistance from publicly disclosed 13F data. Historical only; not a personalized investment recommendation.
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 6.71% | -0.69% | -16.22% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 6.09% | +0.08% | +12.32% | |
| 3 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 5.81% | +0.32% | -5.58% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 5.79% | -0.16% | -8.35% | |
| 5 | SCHW | Schwab (charles) CORP | Stock-Financials | 4.68% | +0.54% | +1.95% | |
| 6 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 4.48% | -0.52% | -10.32% | |
| 7 | ABT | Abbott Laboratories | Stock-Healthcare | 3.76% | — | +21.69% | |
| 8 | ICE | Intercontinental Exchange In | Stock-Financials | 3.62% | — | +1.77% | |
| 9 | DHR | Danaher CORP | Stock-Healthcare | 3.53% | -0.17% | -1.96% | |
| 10 | AME | Ametek INC | Stock-Industrials | 3.46% | +0.35% | -9.48% | |
| 11 | PEP | Pepsico INC | Stock-Consumer Staples | 3.42% | -0.05% | -22.63% | |
| 12 | APH | Amphenol Corp-cl A | Stock-Tech | 3.28% | -0.62% | -23.52% | |
| 13 | AAPL | Apple INC | Stock-Tech | 3.21% | -0.31% | -16.89% | |
| 14 | FTV | Fortive CORP | Stock-Tech | 3.07% | +0.60% | +5.28% | |
| 15 | NKE | Nike INC -cl B | Stock-Consumer Disc | 3.00% | -0.22% | -4.43% | |
| 16 | V | Visa Inc-class A Shares | Stock-Financials | 2.85% | -0.13% | -5.69% | |
| 17 | SPGI | S&p Global INC | Stock-Financials | 2.75% | +1.29% | +96.95% | |
| 18 | ACN | Accenture plc | Stock-Tech | 2.19% | -0.55% | -8.09% | |
| 19 | ROP | Roper Technologies INC | Stock-Tech | 2.09% | +0.07% | +10.37% | |
| 20 | LIN | Linde plc | Stock-Materials | 1.90% | +0.06% | -24.28% | |
| 21 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.53% | -0.27% | -28.36% | |
| 22 | BNTX | Biontech Se-adr | Stock-Other | 1.53% | -0.05% | -12.29% | |
| 23 | MELI | Mercadolibre INC | Stock-Consumer Disc | 1.51% | +0.07% | +4.09% | |
| 24 | LULU | Lululemon Athletica INC | Stock-Consumer Disc | 1.33% | -0.23% | -1.83% | |
| 25 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.25% | +0.10% | -21.97% | |
| 26 | MA | Mastercard INC - A | Stock-Financials | 1.23% | -0.08% | -8.45% | |
| 27 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.06% | -0.13% | -12.82% | |
| 28 | ADI | Analog Devices INC | Stock-Tech | 0.94% | +0.07% | -21.71% | |
| 29 | SYK | Stryker CORP | Stock-Healthcare | 0.83% | +0.43% | +89.81% | |
| 30 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.72% | +0.25% | +28.84% | |
| 31 | RAL | Ralliant CORP | Stock-Tech | 0.72% | — | +22.52% | |
| 32 | CRM | Salesforce INC | Stock-Tech | 0.71% | -0.20% | -6.08% | |
| 33 | INTU | Intuit INC | Stock-Tech | 0.70% | +0.65% | +1888.48% | |
| 34 | IEX | Idex CORP | Stock-Industrials | 0.65% | — | -7.24% | |
| 35 | AMAT | Applied Materials INC | Stock-Tech | 0.63% | -0.13% | -46.58% | |
| 36 | SHW | Sherwin-williams Co/the | Stock-Materials | 0.62% | — | +5.73% | |
| 37 | MSCI | Msci INC | Stock-Financials | 0.56% | — | -0.98% | |
| 38 | MDT | Medtronic plc | Stock-Healthcare | 0.53% | — | +21.15% | |
| 39 | MICC | The Magnum Ice Cream Company N. | Stock-Consumer Staples | 0.40% | — | +6.28% | |
| 40 | AVGO | Broadcom INC | Stock-Tech | 0.39% | -0.01% | -5.96% | |
| 41 | MMM | 3m Co | Stock-Industrials | 0.39% | -0.03% | -14.09% | |
| 42 | DG | Dollar General CORP | Stock-Consumer Staples | 0.38% | -0.06% | -18.01% | |
| 43 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.36% | -0.53% | -69.04% | |
| 44 | CPRT | Copart INC | Stock-Industrials | 0.34% | — | +13.51% | |
| 45 | VRSK | Verisk Analytics INC | Stock-Industrials | 0.28% | — | +32.87% | |
| 46 | NFLX | Netflix INC | Stock-Comm Services | 0.27% | — | +8.76% | |
| 47 | NDAQ | Nasdaq INC | Stock-Financials | 0.27% | -0.17% | -40.33% | |
| 48 | BLK | Blackrock INC | Stock-Financials | 0.26% | -0.17% | -41.99% | |
| 49 | NVDA | Nvidia CORP | Stock-Tech | 0.26% | — | +9.62% | |
| 50 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 0.26% | — | +43.73% |
Performance for Q3 2026
+1.3%
Performance Last 4 Quarters
+14%
Based on 71% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 109 | $21.4B | 22 | |
| 2025-12-31 | 111 | $25.2B | 12 | |
| 2025-09-30 | 119 | $25.4B | 30 | |
| 2025-06-30 | 112 | $24.5B | 0 | |
| 2025-03-31 | 134 | $23.1B | 100 | |
| 2024-12-31 | 111 | $25.1B | 0 | |
| 2024-09-30 | 113 | $25.5B | 0 | |
| 2024-06-30 | 112 | $23.9B | 0 | |
| 2024-03-31 | 115 | $23.0B | 0 | |
| 2023-12-31 | 114 | $21.9B | 0 | |
| 2023-09-30 | 110 | $22.7B | 0 | |
| 2023-06-30 | 113 | $24.8B | 0 | |
| 2023-03-31 | 109 | $23.8B | 0 | |
| 2022-12-31 | 119 | $26.2B | 0 | |
| 2022-09-30 | 119 | $27.2B | 0 | |
| 2022-06-30 | 117 | $29.8B | 0 | |
| 2022-03-31 | 118 | $35.8B | 0 | |
| 2021-12-31 | 118 | $37.1B | 0 | |
| 2021-09-30 | 108 | $34.3B | 0 | |
| 2021-06-30 | 101 | $33.4B | 92 | |
| 2021-03-31 | 97 | $28.4B | 29 | |
| 2020-12-31 | 91 | $24.4B | 27 | |
| 2020-09-30 | 91 | $20.5B | 22 | |
| 2020-06-30 | 96 | $19.2B | 38 | |
| 2020-03-31 | 105 | $14.9B | 30 | |
| 2019-12-31 | 109 | $14.7B | 21 | |
| 2019-09-30 | 100 | $12.6B | 15 | |
| 2019-06-30 | 101 | $11.7B | 27 | |
| 2019-03-31 | 100 | $10.9B | 20 | |
| 2018-12-31 | 113 | $10.5B | 20 | |
| 2018-09-30 | 113 | $10.9B | 19 | |
| 2018-06-30 | 106 | $10.2B | 26 | |
| 2018-03-31 | 103 | $9.8B | 51 | |
| 2017-12-31 | 102 | $10.5B | 28 | |
| 2017-09-30 | 100 | $9.6B | 28 | |
| 2017-06-30 | 95 | $8.8B | 37 | |
| 2017-03-31 | 99 | $6.5B | 23 | |
| 2016-12-31 | 102 | $6.2B | 33 | |
| 2016-09-30 | 89 | $6.0B | 31 | |
| 2016-06-30 | 92 | $5.8B | 27 | |
| 2016-03-31 | 91 | $6.3B | 32 | |
| 2015-12-31 | 99 | $5.9B | 27 | |
| 2015-09-30 | 99 | $5.7B | 22 | |
| 2015-06-30 | 103 | $5.2B | 30 | |
| 2015-03-31 | 100 | $4.4B | 35 | |
| 2014-12-31 | 101 | $4.3B | 35 | |
| 2014-09-30 | 95 | $4.6B | 100 | |
| 2014-06-30 | 85 | $3.9B | 0 | |
| 2014-03-31 | 80 | $3.8B | 30 | |
| 2013-12-31 | 89 | $3.5B | 35 | |
| 2013-09-30 | 85 | $3.3B | 28 | |
| 2013-06-30 | 88 | $3.3B | 30 |
Flossbach Von Storch Se's most significant position changes for 2026-03-31: Sold out: Graco INC (GGG); Sold out: Estee Lauder Companies-cl A (EL); Sold out: Paypal Holdings INC (PYPL); Sold out: Adobe INC (ADBE); Add: S&p Global INC (SPGI) — shares +96.95%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPGI | S&p Global INC | +1.3% | +96.95% | Add |
| 2 | INTU | Intuit INC | +0.7% | +1888.48% | Add |
| 3 | FTV | Fortive CORP | +0.6% | +5.28% | Add |
| 4 | SCHW | Schwab (charles) CORP | +0.5% | +1.95% | Add |
| 5 | SYK | Stryker CORP | +0.4% | +89.81% | Add |
| 6 | AME | Ametek INC | +0.4% | -9.48% | Trim |
| 7 | BRK-B | Berkshire Hathaway Inc-cl B | +0.3% | -5.58% | Trim |
| 8 | MCD | Mcdonald's CORP | +0.3% | +28.84% | Add |
| 9 | CL | Colgate-palmolive Co | +0.1% | +42.13% | Add |
| 10 | JNJ | Johnson & Johnson | +0.1% | -21.97% | Trim |
| 11 | TT | Trane Technologies plc | +0.1% | +167.63% | Add |
| 12 | MSFT | Microsoft CORP | +0.1% | +12.32% | Add |
| 13 | ROP | Roper Technologies INC | +0.1% | +10.37% | Add |
| 14 | MELI | Mercadolibre INC | +0.1% | +4.09% | Add |
| 15 | ADI | Analog Devices INC | +0.1% | -21.71% | Trim |
| 16 | LIN | Linde plc | +0.1% | -24.28% | Trim |
| 17 | AVGO | Broadcom INC | 0% | -5.96% | Trim |
| 18 | KO | Coca-cola Co/the | 0% | -26.89% | Trim |
| 19 | ITW | Illinois Tool Works | 0% | -24.60% | Trim |
| 20 | MMM | 3m Co | 0% | -14.09% | Trim |
| 21 | HDB | Hdfc Bank Ltd-adr | 0% | +8.81% | Add |
| 22 | PEP | Pepsico INC | -0.1% | -22.63% | Trim |
| 23 | BNTX | Biontech Se-adr | -0.1% | -12.29% | Trim |
| 24 | DG | Dollar General CORP | -0.1% | -18.01% | Trim |
| 25 | MCO | Moody's CORP | -0.1% | -37.21% | Trim |
| 26 | RACE | Ferrari N.V. | -0.1% | -46.40% | Trim |
| 27 | ODFL | Old Dominion Freight Line | -0.1% | -97.17% | Trim |
| 28 | MA | Mastercard INC - A | -0.1% | -8.45% | Trim |
| 29 | IDXX | Idexx Laboratories INC | -0.1% | -66.68% | Trim |
| 30 | V | Visa Inc-class A Shares | -0.1% | -5.69% | Trim |
| 31 | META | Meta Platforms Inc-class A | -0.1% | -12.82% | Trim |
| 32 | AMAT | Applied Materials INC | -0.1% | -46.58% | Trim |
| 33 | AMZN | Amazon.com INC | -0.2% | -8.35% | Trim |
| 34 | DHR | Danaher CORP | -0.2% | -1.96% | Trim |
| 35 | NDAQ | Nasdaq INC | -0.2% | -40.33% | Trim |
| 36 | BLK | Blackrock INC | -0.2% | -41.99% | Trim |
| 37 | CRM | Salesforce INC | -0.2% | -6.08% | Trim |
| 38 | NKE | Nike INC -cl B | -0.2% | -4.43% | Trim |
| 39 | LULU | Lululemon Athletica INC | -0.2% | -1.83% | Trim |
| 40 | PG | Procter & Gamble Co/the | -0.3% | -28.36% | Trim |
| 41 | AAPL | Apple INC | -0.3% | -16.89% | Trim |
| 42 | TMO | Thermo Fisher Scientific INC | -0.5% | -10.32% | Trim |
| 43 | TSM | Taiwan Semiconductor-sp Adr | -0.5% | -69.04% | Trim |
| 44 | ACN | Accenture plc | -0.6% | -8.09% | Trim |
| 45 | APH | Amphenol Corp-cl A | -0.6% | -23.52% | Trim |
| 46 | GOOGL | Alphabet Inc-cl A | -0.7% | -16.22% | Trim |
| 47 | GGG | Graco INC | — | EXIT | Sold out |
| 48 | EL | Estee Lauder Companies-cl A | — | EXIT | Sold out |
| 49 | PYPL | Paypal Holdings INC | — | EXIT | Sold out |
| 50 | ADBE | Adobe INC | — | EXIT | Sold out |
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