BLI - Banque de Luxembourg Investments
LUXEMBOURG CITY, N4
$2.8bn in 195 US stocks at the end of 30 June 2026. The top 10 are 32.6% of the money. It changed about 22.8% of the portfolio this quarter.
Value
$2.8bn
Stocks
195
Top 10 share
32.6%
Turnover
22.8%
What changed this quarter
New
Bought for the first time this quarter.
- Zebra TechnologiesZBRA0.4% of the fund
- HalliburtonHAL0.4% of the fund
- MercadoLibreMELI0.4% of the fund
- Ross StoresROST0.4% of the fund
- ZoetisZTS0.4% of the fund
- American TowerAMT0.3% of the fund
- 3MMMM0.3% of the fund
- Consolidated EdisonED0.3% of the fund
- AutozoneAZO0.3% of the fund
- Howmet AerospaceHWM0.3% of the fund
- Comfort Systems USAFIX0.3% of the fund
- XylemXYL0.2% of the fund
- Charles SchwabSCHW0.2% of the fund
- Yum China HoldingsYUMC0.2% of the fund
- Honeywell InternationalHON0.1% of the fund
- Honeywell AerospaceHONA0.1% of the fund
- IntuitINTU0.1% of the fund
- Broadridge Financial SolutionsBR0.1% of the fund
- Baker HughesBKR<0.1% of the fund
- TE ConnectivityTEL<0.1% of the fund
- Intuitive SurgicalISRG<0.1% of the fund
- Listed FDS TRJAPN<0.1% of the fund
- Itau Unibanco Hldg S AITUB<0.1% of the fund
- Companhia de Saneamento BasiSBS<0.1% of the fund
- Nu HoldingsNU<0.1% of the fund
Added
Bought more of a stock they already held.
- VisaV3.3% of the fund+18%
- MastercardMA2.5% of the fund+3%
- Amazon.comAMZN2.5% of the fund+610%
- Meta PlatformsMETA2.0% of the fund+16%
- Wheaton Precious MetalsWPM1.6% of the fund+3%
- Alamos GoldAGI1.5% of the fund+104%
- Verisk AnalyticsVRSK1.5% of the fund+10%
- Lam ResearchLRCX1.4% of the fund+52%
- TJX CompaniesTJX1.4% of the fund+2%
- Eli LillyLLY1.2% of the fund+64%
- RollinsROL1.2% of the fund+43%
- Johnson & JohnsonJNJ1.2% of the fund+24%
- BroadcomAVGO1.1% of the fund+23%
- Arista NetworksANET1.0% of the fund+2%
- S&P GlobalSPGI0.9% of the fund+20%
- Texas Pacific LandTPL0.9% of the fund+26%
- LindeLIN0.5% of the fund+32%
- NetflixNFLX0.5% of the fund+77%
- EquifaxEFX0.5% of the fund+2%
- AlphabetGOOG0.5% of the fund+28%
- Becton DickinsonBDX0.5% of the fund+48%
- MerckMRK0.4% of the fund+53%
- Automatic Data ProcessingADP0.4% of the fund+33%
- PrologisPLD0.4% of the fund+105%
- Costco WholesaleCOST0.3% of the fund+42%
Cut
Sold some of their stake.
- MicrosoftMSFT5.2% of the fund-12%
- AlphabetGOOGL4.0% of the fund-45%
- Taiwan Semiconductor ManufacturingTSM4.0% of the fund-2%
- Canadian National RailwayCNI2.9% of the fund-19%
- Union PacificUNP2.5% of the fund-31%
- Applied MaterialsAMAT1.8% of the fund-16%
- Colgate-PalmoliveCL1.7% of the fund-30%
- KLAKLAC1.6% of the fund-2%
- Franco NevadaFNV1.5% of the fund-22%
- ResmedRMD1.5% of the fund-4%
- Agnico Eagle MinesAEM1.2% of the fund-25%
- PepsiCoPEP1.0% of the fund-37%
- Mondelez InternationalMDLZ0.9% of the fund-28%
- WatersWAT0.8% of the fund-40%
- Thermo Fisher ScientificTMO0.8% of the fund-35%
- Idexx LaboratoriesIDXX0.7% of the fund-30%
- SiteOne Landscape SupplySITE0.7% of the fund-17%
- CaterpillarCAT0.6% of the fund-65%
- AdobeADBE0.6% of the fund-51%
- AccentureACN0.6% of the fund-32%
- Orla MNG LTD NewORLA0.6% of the fund-21%
- Procter & GamblePG0.6% of the fund-16%
- Kimberly-ClarkKMB0.6% of the fund-63%
- NordsonNDSN0.5% of the fund-31%
- DanaherDHR0.5% of the fund-88%
Sold out
Sold their entire stake.
- CloroxCLX-100%
- ChemedCHE-100%
- Berkshire HathawayBRK-B-100%
- Booking HoldingsBKNG-100%
- CumminsCMI-100%
- Honeywell InternationalHON-100%
- Paycom SoftwarePAYC-100%
- VerisignVRSN-100%
- Dominos PizzaDPZ-100%
- QualcommQCOM-100%
- Masimo-100%
- AppLovinAPP-100%
- United BreweriesCCU-100%
- Horton D RDHI-100%
- lululemon athleticaLULU-100%
- Simon Property GroupSPG-100%
- CME GroupCME-100%
- QualysQLYS-100%
- Monolithic Power SystemsMPWR-100%
- InsuletPODD-100%
- ExxonMobil HoldingsXOM-100%
- Wells Fargo & CompanyWFC-100%
- Constellation BrandsSTZ-100%
Holdings
- Canadian National RailwayCNI
- Share
- 2.9%
- Value
- $82m
- Shares
- 683,667
-19%
- Wheaton Precious MetalsWPM
- Share
- 1.6%
- Value
- $46m
- Shares
- 406,100
+3%
- Alamos GoldAGI
- Share
- 1.5%
- Value
- $43m
- Shares
- 1,410,000
+104%
- Franco NevadaFNV
- Share
- 1.5%
- Value
- $42m
- Shares
- 201,995
-22%
- Agnico Eagle MinesAEM
- Share
- 1.2%
- Value
- $35m
- Shares
- 227,900
-25%
- Orla MNG LTD NewORLA
- Share
- 0.6%
- Value
- $16m
- Shares
- 1,679,000
-21%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| MicrosoftMSFT | 5.2% | $147m | 396,983 | -12% |
| AlphabetGOOGL | 4.0% | $113m | 318,393 | -45% |
| Taiwan Semiconductor ManufacturingTSM | 4.0% | $112m | 245,600 | -2% |
| VisaV | 3.3% | $95m | 276,590 | +18% |
| AppleAAPL | 3.3% | $95m | 335,418 | Held |
| Canadian National RailwayCNI | 2.9% | $82m | 683,667 | -19% |
| MastercardMA | 2.5% | $71m | 138,834 | +3% |
| Union PacificUNP | 2.5% | $71m | 258,053 | -31% |
| Amazon.comAMZN | 2.5% | $70m | 3,333,900 | +610% |
| AstrazenecaAZN | 2.4% | $68m | 370,958 | Held |
| Meta PlatformsMETA | 2.0% | $56m | 99,505 | +16% |
| Applied MaterialsAMAT | 1.8% | $50m | 72,506 | -16% |
| Colgate-PalmoliveCL | 1.7% | $49m | 534,342 | -30% |
| Wheaton Precious MetalsWPM | 1.6% | $46m | 406,100 | +3% |
| KLAKLAC | 1.6% | $45m | 161,920 | -2% |
| Alamos GoldAGI | 1.5% | $43m | 1,410,000 | +104% |
| Franco NevadaFNV | 1.5% | $42m | 201,995 | -22% |
| ResmedRMD | 1.5% | $41m | 207,815 | -4% |
| Verisk AnalyticsVRSK | 1.5% | $41m | 230,010 | +10% |
| Lam ResearchLRCX | 1.4% | $40m | 97,000 | +52% |
| TJX CompaniesTJX | 1.4% | $39m | 259,928 | +2% |
| Eli LillyLLY | 1.2% | $35m | 28,740 | +64% |
| Agnico Eagle MinesAEM | 1.2% | $35m | 227,900 | -25% |
| RollinsROL | 1.2% | $35m | 834,103 | +43% |
| Johnson & JohnsonJNJ | 1.2% | $35m | 135,819 | +24% |
| EnbridgeENB | 1.2% | $34m | 625,295 | Held |
| BroadcomAVGO | 1.1% | $33m | 87,196 | +23% |
| PepsiCoPEP | 1.0% | $29m | 206,668 | -37% |
| Arista NetworksANET | 1.0% | $28m | 167,993 | +2% |
| S&P GlobalSPGI | 0.9% | $26m | 64,202 | +20% |
| Mondelez InternationalMDLZ | 0.9% | $25m | 408,414 | -28% |
| Texas Pacific LandTPL | 0.9% | $24m | 57,800 | +26% |
| WatersWAT | 0.8% | $22m | 60,468 | -40% |
| Thermo Fisher ScientificTMO | 0.8% | $22m | 42,831 | -35% |
| Idexx LaboratoriesIDXX | 0.7% | $21m | 38,931 | -30% |
| SiteOne Landscape SupplySITE | 0.7% | $21m | 180,500 | -17% |
| Royal GoldRGLD | 0.7% | $20m | 100,500 | Held |
| CaterpillarCAT | 0.6% | $18m | 17,771 | -65% |
| AdobeADBE | 0.6% | $18m | 87,120 | -51% |
| AccentureACN | 0.6% | $18m | 140,592 | -32% |
| Orla MNG LTD NewORLA | 0.6% | $16m | 1,679,000 | -21% |
| Procter & GamblePG | 0.6% | $16m | 110,159 | -16% |
| Kimberly-ClarkKMB | 0.6% | $16m | 143,500 | -63% |
| LindeLIN | 0.5% | $15m | 29,900 | +32% |
| Bristol-Myers SquibbBMY | 0.5% | $14m | 247,000 | Held |
| NetflixNFLX | 0.5% | $14m | 191,000 | +77% |
| Jack Henry & AssociatesJKHY | 0.5% | $14m | 101,000 | Held |
| NordsonNDSN | 0.5% | $13m | 44,300 | -31% |
| EquifaxEFX | 0.5% | $13m | 84,200 | +2% |
| AlphabetGOOG | 0.5% | $13m | 37,000 | +28% |
| Becton DickinsonBDX | 0.5% | $13m | 83,000 | +48% |
| DanaherDHR | 0.5% | $13m | 11,080 | -88% |
| SynopsysSNPS | 0.4% | $13m | 28,251 | -39% |
| LittelfuseLFUS | 0.4% | $13m | 27,990 | -19% |
| AaonAAON | 0.4% | $12m | 97,500 | -34% |
| Abbott LaboratoriesABT | 0.4% | $12m | 129,814 | -35% |
| NvidiaNVDA | 0.4% | $12m | 573,300 | Held |
| Zebra TechnologiesZBRA | 0.4% | $12m | 45,900 | New |
| MsciMSCI | 0.4% | $12m | 20,967 | -17% |
| NewmontNEM | 0.4% | $11m | 120,400 | -22% |
| HalliburtonHAL | 0.4% | $11m | 333,800 | New |
| Moody'sMCO | 0.4% | $11m | 25,056 | -42% |
| Church & DwightCHD | 0.4% | $11m | 115,030 | -14% |
| MercadoLibreMELI | 0.4% | $11m | 6,550 | New |
| MerckMRK | 0.4% | $11m | 85,000 | +53% |
| PaychexPAYX | 0.4% | $11m | 109,965 | Held |
| Edwards LifesciencesEW | 0.4% | $11m | 119,491 | -30% |
| Ross StoresROST | 0.4% | $11m | 52,000 | New |
| IdexIEX | 0.4% | $11m | 47,580 | -75% |
| Automatic Data ProcessingADP | 0.4% | $11m | 47,000 | +33% |
| PrologisPLD | 0.4% | $11m | 76,000 | +105% |
| Lennox InternationalLII | 0.4% | $10m | 18,260 | -10% |
| West Pharmaceutical ServicesWST | 0.4% | $10m | 29,125 | -42% |
| ZoetisZTS | 0.4% | $10m | 136,658 | New |
| ExponentEXPO | 0.3% | $10m | 162,300 | Held |
| Check Point Software TechnologiesCHKP | 0.3% | $10m | 74,700 | -50% |
| FortinetFTNT | 0.3% | $10m | 30,750 | -36% |
| Costco WholesaleCOST | 0.3% | $10m | 10,080 | +42% |
| American TowerAMT | 0.3% | $9m | 55,995 | New |
| GracoGGG | 0.3% | $9m | 120,600 | Held |
| Core & MainCNM | 0.3% | $9m | 190,370 | -15% |
| 3MMMM | 0.3% | $9m | 56,000 | New |
| WatscoWSO | 0.3% | $9m | 22,150 | -22% |
| Tyler TechnologiesTYL | 0.3% | $9m | 30,920 | -11% |
| Trane TechnologiesTT | 0.3% | $9m | 18,600 | +50% |
| Consolidated EdisonED | 0.3% | $9m | 79,000 | New |
| AutozoneAZO | 0.3% | $9m | 2,778 | New |
| Uber TechnologiesUBER | 0.3% | $9m | 114,500 | +116% |
| WalmartWMT | 0.3% | $9m | 74,580 | +46% |
| Veeva SystemsVEEV | 0.3% | $9m | 48,175 | -20% |
| Howmet AerospaceHWM | 0.3% | $8m | 31,000 | New |
| Atmos EnergyATO | 0.3% | $8m | 47,000 | +47% |
| Burlington StoresBURL | 0.3% | $8m | 25,550 | -39% |
| Globus MedicalGMED | 0.3% | $8m | 94,900 | -30% |
| Illinois Tool WorksITW | 0.3% | $8m | 29,500 | +35% |
| UnitedHealth GroupUNH | 0.3% | $8m | 18,793 | -56% |
| PoolPOOL | 0.3% | $8m | 36,859 | -11% |
| AmetekAME | 0.3% | $8m | 32,417 | -53% |
| AutodeskADSK | 0.3% | $8m | 39,254 | -45% |
| Comfort Systems USAFIX | 0.3% | $8m | 3,850 | New |
Showing the largest 100 of 195.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 18.8% since 30 June 2025.
Where the money is
Technology25.8%
Industrials18.3%
Health care14.2%
Financial services8.9%
Materials7.5%
Retail & consumer7.3%
Media & telecom6.9%
Everyday goods6.1%
Energy2.6%
Real estate0.8%
Utilities0.6%
Other1.0%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.