Q2 2025 · 13F-HR
BLI - Banque de Luxembourg Investmentsholdings as filed
Filed 2025-08-13 · accession 0002052594-25-000006
$3.49B
Reported value
175
Positions
2025-06-30
Period end
The Brief · BLI - Banque de Luxembourg Investments · Q2 2025
AI · grounded in 13F
Banque de Luxembourg Investments established a new position in MSFT valued at $251.8M. The fund also initiated new stakes in V for $121.6M and GOOGL for $118.4M. Additional new positions include MA at $109.1M and CNI at $94.2M. Total assets under management stand at $3.49B across 175 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | MICROSOFT CORPCOM | $251.8M | 7.21% | 507,819 | Common | SOLE |
| 92826C839 | V | VISA INCCOM CL A | $121.6M | 3.48% | 348,950 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INCCAP STK CL A | $118.4M | 3.39% | 663,530 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATEDCL A | $109.1M | 3.13% | 198,350 | Common | SOLE |
| 136375102 | CNI | CANADIAN NATL RY COCOM | $94.2M | 2.70% | 907,795 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORPCOM | $93.5M | 2.68% | 404,080 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INCCOM | $81.5M | 2.33% | 364,870 | Common | SOLE |
| 761152107 | RMD | RESMED INCCOM | $73.9M | 2.12% | 289,887 | Common | SOLE |
| 037833100 | AAPL | APPLE INCCOM | $72.5M | 2.08% | 360,852 | Common | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATIONCOM | $68.4M | 1.96% | 433,770 | Common | SOLE |
| 713448108 | PEP | PEPSICO INCCOM | $67.9M | 1.94% | 517,943 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTDSPONSORED ADS | $59.8M | 1.71% | 261,600 | Common | SOLE |
| 00724F101 | ADBE | ADOBE INCCOM | $59.4M | 1.70% | 153,970 | Common | SOLE |
| 351858105 | FNV | FRANCO NEV CORPCOM | $57.0M | 1.63% | 347,395 | Common | SOLE |
| 494368103 | KMB | KIMBERLY-CLARK CORPCOM | $54.2M | 1.55% | 423,700 | Common | SOLE |
| 45168D104 | IDXX | IDEXX LABS INCCOM | $52.5M | 1.50% | 98,900 | Common | SOLE |
| 194162103 | CL | COLGATE PALMOLIVE COCOM | $52.5M | 1.50% | 591,700 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEWCOM | $51.3M | 1.47% | 415,990 | Common | SOLE |
| 775711104 | ROL | ROLLINS INCCOM | $50.5M | 1.45% | 898,850 | Common | SOLE |
| 776696106 | ROP | ROPER TECHNOLOGIES INCCOM | $48.7M | 1.40% | 86,528 | Common | SOLE |
| G1151C101 | ACN | ACCENTURE PLC IRELANDSHS CLASS A | $47.9M | 1.37% | 162,079 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABSCOM | $47.4M | 1.36% | 352,911 | Common | SOLE |
| 98978V103 | ZTS | ZOETIS INCCL A | $43.4M | 1.24% | 278,000 | Common | SOLE |
| 92345Y106 | VRSK | VERISK ANALYTICS INCCOM | $42.4M | 1.22% | 137,470 | Common | SOLE |
| 609207105 | MDLZ | MONDELEZ INTL INCCL A | $42.1M | 1.21% | 621,800 | Common | SOLE |
| 962879102 | WPM | WHEATON PRECIOUS METALS CORPCOM | $38.9M | 1.11% | 435,000 | Common | SOLE |
| M22465104 | CHKP | CHECK POINT SOFTWARE TECH LTORD | $36.7M | 1.05% | 169,400 | Common | SOLE |
| 29250N105 | ENB | ENBRIDGE INCCOM | $36.6M | 1.05% | 812,395 | Common | SOLE |
| 941848103 | WAT | WATERS CORPCOM | $36.1M | 1.03% | 102,500 | Common | SOLE |
| 008474108 | AEM | AGNICO EAGLE MINES LTDCOM | $35.5M | 1.02% | 300,000 | Common | SOLE |
| 149123101 | CAT | CATERPILLAR INCCOM | $34.7M | 0.99% | 90,260 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INCCOM | $33.2M | 0.95% | 107,530 | Common | SOLE |
| 780287108 | RGLD | ROYAL GOLD INCCOM | $32.5M | 0.93% | 185,000 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INCCOM | $30.1M | 0.86% | 5,280 | Common | SOLE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INCCOM | $28.5M | 0.82% | 69,880 | Common | SOLE |
| 548661107 | LOW | LOWES COS INCCOM | $28.4M | 0.81% | 127,060 | Common | SOLE |
| 615369105 | MCO | MOODYS CORPCOM | $25.9M | 0.74% | 53,080 | Common | SOLE |
| H01301128 | ALC | ALCON AGORD SHS | $24.8M | 0.71% | 282,024 | Common | SOLE |
| 98419M100 | XYL | XYLEM INCCOM | $24.3M | 0.70% | 189,500 | Common | SOLE |
| 21036P108 | STZ | CONSTELLATION BRANDS INCCL A | $24.1M | 0.69% | 149,560 | Common | SOLE |
| 654106103 | NKE | NIKE INCCL B | $23.0M | 0.66% | 319,620 | Common | SOLE |
| 704326107 | PAYX | PAYCHEX INCCOM | $21.7M | 0.62% | 150,600 | Common | SOLE |
| 231021106 | CMI | CUMMINS INCCOM | $21.6M | 0.62% | 66,440 | Common | SOLE |
| 82982L103 | SITE | SITEONE LANDSCAPE SUPPLY INCCOM | $20.9M | 0.60% | 173,100 | Common | SOLE |
| 294429105 | EFX | EQUIFAX INCCOM | $20.4M | 0.59% | 79,800 | Common | SOLE |
| 235851102 | DHR | DANAHER CORPORATIONCOM | $20.4M | 0.58% | 102,650 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSONCOM | $20.0M | 0.57% | 131,399 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INCCOM | $19.9M | 0.57% | 73,890 | Common | SOLE |
| 655663102 | NDSN | NORDSON CORPCOM | $19.3M | 0.55% | 89,800 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INCCL A | $18.9M | 0.54% | 25,800 | Common | SOLE |
| 21874C102 | CNM | CORE & MAIN INCCL A | $18.8M | 0.54% | 312,300 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & COCOM | $18.6M | 0.53% | 24,000 | Common | SOLE |
| 08265T208 | BSY | BENTLEY SYS INCCOM CL B | $18.4M | 0.53% | 349,100 | Common | SOLE |
| 426281101 | JKHY | HENRY JACK & ASSOC INCCOM | $17.9M | 0.51% | 100,200 | Common | SOLE |
| 038222105 | AMAT | APPLIED MATLS INCCOM | $17.5M | 0.50% | 95,645 | Common | SOLE |
| 55354G100 | MSCI | MSCI INCCOM | $17.2M | 0.49% | 29,900 | Common | SOLE |
| 81762P102 | NOW | SERVICENOW INCCOM | $17.1M | 0.49% | 16,740 | Common | SOLE |
| 45167R104 | IEX | IDEX CORPCOM | $16.4M | 0.47% | 93,000 | Common | SOLE |
| 011532108 | AGI | ALAMOS GOLD INC NEWCOM CL A | $15.8M | 0.45% | 600,000 | Common | SOLE |
| 70432V102 | PAYC | PAYCOM SOFTWARE INCCOM | $15.7M | 0.45% | 69,100 | Common | SOLE |
| 052769106 | ADSK | AUTODESK INCCOM | $15.2M | 0.44% | 49,800 | Common | SOLE |
| 562750109 | MANH | MANHATTAN ASSOCIATES INCCOM | $14.7M | 0.42% | 74,300 | Common | SOLE |
| 902252105 | TYL | TYLER TECHNOLOGIES INCCOM | $14.6M | 0.42% | 25,100 | Common | SOLE |
| 574795100 | MASI | MASIMO CORPCOM | $14.6M | 0.42% | 86,700 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORPCOM | $14.4M | 0.41% | 68,680 | Common | SOLE |
| 16359R103 | CHE | CHEMED CORP NEWCOM | $14.4M | 0.41% | 25,700 | Common | SOLE |
| 053015103 | ADP | AUTOMATIC DATA PROCESSING INCOM | $14.1M | 0.40% | 46,600 | Common | SOLE |
| 88262P102 | TPL | TEXAS PACIFIC LAND CORPORATICOM | $14.0M | 0.40% | 13,300 | Common | SOLE |
| 438516106 | HON | HONEYWELL INTL INCCOM | $13.9M | 0.40% | 60,550 | Common | SOLE |
| 031100100 | AME | AMETEK INCCOM | $13.8M | 0.39% | 76,300 | Common | SOLE |
| 92343E102 | VRSN | VERISIGN INCCOM | $13.6M | 0.39% | 47,400 | Common | SOLE |
| 482480100 | KLAC | KLA CORPCOM NEW | $13.6M | 0.39% | 15,290 | Common | SOLE |
| 73278L105 | POOL | POOL CORPCOM | $13.0M | 0.37% | 44,300 | Common | SOLE |
| 12514G108 | CDW | CDW CORPCOM | $12.7M | 0.36% | 71,500 | Common | SOLE |
| 526107107 | LII | LENNOX INTL INCCOM | $12.4M | 0.35% | 21,800 | Common | SOLE |
| 384109104 | GGG | GRACO INCCOM | $12.3M | 0.35% | 143,100 | Common | SOLE |
| 942622200 | WSO | WATSCO INCCOM | $12.3M | 0.35% | 28,200 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INCCOM | $12.2M | 0.35% | 9,200 | Common | SOLE |
| 989207105 | ZBRA | ZEBRA TECHNOLOGIES CORPORATICL A | $12.0M | 0.34% | 38,900 | Common | SOLE |
| 871607107 | SNPS | SYNOPSYS INCCOM | $12.0M | 0.34% | 23,800 | Common | SOLE |
| 30214U102 | EXPO | EXPONENT INCCOM | $11.9M | 0.34% | 160,500 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INCCOM | $11.6M | 0.33% | 22,400 | Common | SOLE |
| 03662Q105 | AKX | ANSYS INCCOM | $11.6M | 0.33% | 33,400 | Common | SOLE |
| 955306105 | WST | WEST PHARMACEUTICAL SVSC INCCOM | $11.6M | 0.33% | 52,900 | Common | SOLE |
| 040413205 | ANET | ARISTA NETWORKS INCCOM SHS | $11.5M | 0.33% | 115,600 | Common | SOLE |
| 110122108 | BMY | BRISTOL-MYERS SQUIBB COCOM | $11.4M | 0.33% | 247,000 | Common | SOLE |
| 171340102 | CHD | CHURCH & DWIGHT CO INCCOM | $11.4M | 0.33% | 119,800 | Common | SOLE |
| 09073M104 | TECH | BIO-TECHNE CORPCOM | $11.2M | 0.32% | 216,000 | Common | SOLE |
| 90384S303 | ULTA | ULTA BEAUTY INCCOM | $10.8M | 0.31% | 23,500 | Common | SOLE |
| 122017106 | BURL | BURLINGTON STORES INCCOM | $10.6M | 0.30% | 46,100 | Common | SOLE |
| 98850P109 | YUMC | YUM CHINA HLDGS INCCOM | $10.6M | 0.30% | 236,000 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEWCOM | $10.0M | 0.29% | 10,200 | Common | SOLE |
| 46266C105 | IQV | IQVIA HLDGS INCCOM | $9.7M | 0.28% | 61,730 | Common | SOLE |
| G54950103 | LIN | LINDE PLCSHS | $9.5M | 0.27% | 20,600 | Common | SOLE |
| 592688105 | MTD | METTLER TOLEDO INTERNATIONALCOM | $9.5M | 0.27% | 8,000 | Common | SOLE |
| 075887109 | BDX | BECTON DICKINSON & COCOM | $9.4M | 0.27% | 55,000 | Common | SOLE |
| 74758T303 | QLYS | QUALYS INCCOM | $9.3M | 0.27% | 65,700 | Common | SOLE |
| 742718109 | PG | PROCTER AND GAMBLE COCOM | $9.1M | 0.26% | 57,131 | Common | SOLE |
| 537008104 | LFUS | LITTELFUSE INCCOM | $9.1M | 0.26% | 40,200 | Common | SOLE |
| 45784P101 | PODD | INSULET CORPCOM | $9.0M | 0.26% | 28,600 | Common | SOLE |
| 651639106 | NEM | NEWMONT CORPCOM | $8.7M | 0.25% | 152,500 | Common | SOLE |
| 25754A201 | DPZ | DOMINOS PIZZA INCCOM | $8.3M | 0.24% | 18,500 | Common | SOLE |
| 379577208 | GMED | GLOBUS MED INCCL A | $8.1M | 0.23% | 138,800 | Common | SOLE |
| 922475108 | VEEV | VEEVA SYS INCCL A COM | $8.0M | 0.23% | 28,100 | Common | SOLE |
| 216648501 | COO | COOPER COS INCCOM | $7.9M | 0.23% | 110,900 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INCCAP STK CL C | $7.8M | 0.22% | 43,900 | Common | SOLE |
| 189054109 | CLX | CLOROX CO DELCOM | $7.7M | 0.22% | 65,020 | Common | SOLE |
| 191216100 | KO | COCA COLA COCOM | $7.5M | 0.22% | 107,331 | Common | SOLE |
| 892356106 | TSCO | TRACTOR SUPPLY COCOM | $7.2M | 0.21% | 139,600 | Common | SOLE |
| 882508104 | TXN | TEXAS INSTRS INCCOM | $7.2M | 0.21% | 34,721 | Common | SOLE |
| H50430232 | LOGI | LOGITECH INTL S ASHS | $6.8M | 0.19% | 75,525 | Common | SOLE |
| 169656105 | CMG | CHIPOTLE MEXICAN GRILL INCCOM | $6.7M | 0.19% | 121,000 | Common | SOLE |
| 501889208 | LKQ | LKQ CORPCOM | $6.6M | 0.19% | 178,700 | Common | SOLE |
| 831865209 | AOS | SMITH A O CORPCOM | $6.6M | 0.19% | 100,300 | Common | SOLE |
| 816851109 | SRE | SEMPRACOM | $6.5M | 0.19% | 86,100 | Common | SOLE |
| 191241108 | KOF | COCA-COLA FEMSA SAB DE CVSPONS ADS REP | $6.5M | 0.19% | 68,500 | Common | SOLE |
| 31428X106 | FDX | FEDEX CORPCOM | $6.5M | 0.18% | 28,190 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INCCOM | $6.2M | 0.18% | 78,300 | Common | SOLE |
| N3167Y103 | RACE | FERRARI N VCOM | $5.8M | 0.16% | 11,800 | Common | SOLE |
| 204429104 | CCU | COMPANIA CERVECERIAS UNIDASSPONSORED ADR | $5.6M | 0.16% | 435,000 | Common | SOLE |
| G29183103 | ETN | EATON CORP PLCSHS | $5.5M | 0.16% | 15,440 | Common | SOLE |
| 747525103 | QCOM | QUALCOMM INCCOM | $5.4M | 0.15% | 33,800 | Common | SOLE |
| 74460D109 | PSA | PUBLIC STORAGE OPER COCOM | $5.3M | 0.15% | 18,200 | Common | SOLE |
| 828806109 | SPG | SIMON PPTY GROUP INC NEWCOM | $4.9M | 0.14% | 30,800 | Common | SOLE |
| 28176E108 | EW | EDWARDS LIFESCIENCES CORPCOM | $4.8M | 0.14% | 61,500 | Common | SOLE |
| 09290D101 | BLK | BLACKROCK INCCOM | $4.6M | 0.13% | 4,400 | Common | SOLE |
| 000360206 | AAON | AAON INCCOM | $4.6M | 0.13% | 62,100 | Common | SOLE |
| 452308109 | ITW | ILLINOIS TOOL WKS INCCOM | $4.6M | 0.13% | 18,400 | Common | SOLE |
| 533900106 | LECO | LINCOLN ELEC HLDGS INCCOM | $4.5M | 0.13% | 21,500 | Common | SOLE |
| 744573106 | PEG | PUBLIC SVC ENTERPRISE GRP INCOM | $4.5M | 0.13% | 53,300 | Common | SOLE |
| 512807306 | LRCX | LAM RESEARCH CORPCOM NEW | $4.2M | 0.12% | 43,700 | Common | SOLE |
| 00790R104 | WMS | ADVANCED DRAIN SYS INC DELCOM | $4.2M | 0.12% | 35,800 | Common | SOLE |
| 257651109 | DCI | DONALDSON INCCOM | $4.1M | 0.12% | 59,300 | Common | SOLE |
| 88579Y101 | MMM | 3M COCOM | $4.1M | 0.12% | 27,000 | Common | SOLE |
| 127387108 | CDNS | CADENCE DESIGN SYSTEM INCCOM | $4.0M | 0.11% | 13,100 | Common | SOLE |
| 911312106 | UPS | UNITED PARCEL SERVICE INCCL B | $3.9M | 0.11% | 38,880 | Common | SOLE |
| 550021109 | LULU | LULULEMON ATHLETICA INCCOM | $3.8M | 0.11% | 16,300 | Common | SOLE |
| 172908105 | CTAS | CINTAS CORPCOM | $3.7M | 0.11% | 16,700 | Common | SOLE |
| G8994E103 | TT | TRANE TECHNOLOGIES PLCSHS | $3.7M | 0.11% | 8,500 | Common | SOLE |
| 243537107 | DECK | DECKERS OUTDOOR CORPCOM | $3.6M | 0.10% | 34,400 | Common | SOLE |
| 571748102 | MRSH | MARSH & MCLENNAN COS INCCOM | $3.6M | 0.10% | 16,400 | Common | SOLE |
| 23331A109 | DHI | D R HORTON INCCOM | $3.5M | 0.10% | 27,100 | Common | SOLE |
| 115637209 | BF/B | BROWN FORMAN CORPCL B | $3.4M | 0.10% | 126,850 | Common | SOLE |
| 12572Q105 | CME | CME GROUP INCCOM | $3.4M | 0.10% | 12,200 | Common | SOLE |
| 824348106 | SHW | SHERWIN WILLIAMS COCOM | $3.1M | 0.09% | 9,100 | Common | SOLE |
| 032095101 | APH | AMPHENOL CORP NEWCL A | $3.1M | 0.09% | 32,200 | Common | SOLE |
| H2906T109 | GRMN | GARMIN LTDSHS | $3.1M | 0.09% | 14,800 | Common | SOLE |
| 384802104 | GWW | GRAINGER W W INCCOM | $2.9M | 0.08% | 2,800 | Common | SOLE |
| 92532F100 | VRTX | VERTEX PHARMACEUTICALS INCCOM | $2.9M | 0.08% | 6,500 | Common | SOLE |
| 62944T105 | NVR | NVR INCCOM | $2.7M | 0.08% | 360 | Common | SOLE |
| 969904101 | WSM | WILLIAMS SONOMA INCCOM | $2.4M | 0.07% | 14,900 | Common | SOLE |
| 03831W108 | APP | APPLOVIN CORPCOM CL A | $2.3M | 0.07% | 7,000 | Common | SOLE |
| 745867101 | PHM | PULTE GROUP INCCOM | $2.3M | 0.07% | 21,800 | Common | SOLE |
| 036752103 | ELV | ELEVANCE HEALTH INCCOM | $2.3M | 0.07% | 6,000 | Common | SOLE |
| 03076C106 | AMP | AMERIPRISE FINL INCCOM | $2.3M | 0.07% | 4,300 | Common | SOLE |
| 375558103 | GILD | GILEAD SCIENCES INCCOM | $2.2M | 0.06% | 20,031 | Common | NONE |
| 031162100 | AMGN | AMGEN INCCOM | $2.2M | 0.06% | 7,783 | Common | NONE |
| 949746101 | WMT2 | WELLS FARGO CO NEWCOM | $2.0M | 0.06% | 25,000 | Common | NONE |
| 706327103 | PBA | PEMBINA PIPELINE CORPCOM | $2.0M | 0.06% | 52,700 | Common | NONE |
| 863667101 | SYK | STRYKER CORPORATIONCOM | $1.9M | 0.05% | 4,833 | Common | NONE |
| 032654105 | ADI | ANALOG DEVICES INCCOM | $1.9M | 0.05% | 7,833 | Common | NONE |
| 00287Y109 | ABBV | ABBVIE INCCOM | $1.8M | 0.05% | 9,999 | Common | NONE |
| 278642103 | EBAY | EBAY INC.COM | $1.8M | 0.05% | 23,896 | Common | NONE |
| G51502105 | JCI | JOHNSON CTLS INTL PLCSHS | $1.7M | 0.05% | 15,884 | Common | NONE |
| H2927K103 | AMRZ | AMRIZE LTDSHS | $1.4M | 0.04% | 28,100 | Common | SOLE |
| 291011104 | EMR | EMERSON ELEC COCOM | $1.3M | 0.04% | 9,599 | Common | NONE |
| 49338L103 | KEYS | KEYSIGHT TECHNOLOGIES INCCOM | $1.2M | 0.04% | 7,600 | Common | SOLE |
| 00846U101 | A | AGILENT TECHNOLOGIES INCCOM | $1.1M | 0.03% | 9,599 | Common | NONE |
| 278865100 | ECL | ECOLAB INCCOM | $1.1M | 0.03% | 4,100 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE & CO.COM | $1.1M | 0.03% | 3,800 | Common | NONE |
| 30231G102 | XOM | EXXON MOBIL CORPCOM | $1.1M | 0.03% | 9,900 | Common | NONE |
| 166764100 | CVX | CHEVRON CORP NEWCOM | $948,771 | 0.03% | 6,600 | Common | NONE |
| 89531P105 | TREX | TREX CO INCCOM | $537,686 | 0.02% | 9,800 | Common | SOLE |
| 60770K107 | MRNA | MODERNA INCCOM | $369,281 | 0.01% | 13,600 | Common | NONE |
| 880770102 | TER | TERADYNE INCCOM | $289,046 | 0.01% | 3,200 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.