J. Stern & Co. LLP
LONDON, X0
$1.1bn in 51 US stocks at the end of 30 June 2026. The top 10 are 68.4% of the money. It changed about 13.7% of the portfolio this quarter.
Value
$1.1bn
Stocks
51
Top 10 share
68.4%
Turnover
13.7%
What changed this quarter
New
Bought for the first time this quarter.
- Honeywell InternationalHON3.1% of the fund
- Honeywell AerospaceHONA3.1% of the fund
- Arista NetworksANET0.3% of the fund
Added
Bought more of a stock they already held.
- SalesforceCRM3.0% of the fund+11%
- Eli LillyLLY0.5% of the fund+7%
- Cadence Design SystemsCDNS0.5% of the fund+4%
- VisaV0.3% of the fund+4%
- BlockXYZ0.3% of the fund+5%
- Estee Lauder CompaniesEL0.3% of the fund+11%
- Booking HoldingsBKNG0.3% of the fund+3%
- McDonald'sMCD0.2% of the fund+5%
- Home DepotHD0.2% of the fund+3%
- TE ConnectivityTEL0.2% of the fund+4%
- DexcomDXCM0.2% of the fund+6%
- Intuitive SurgicalISRG0.2% of the fund+4%
- Lowe's CompaniesLOW0.2% of the fund+5%
- AlphabetGOOGL0.1% of the fund+25%
- SAP SESAP<0.1% of the fund+101%
Cut
Sold some of their stake.
- MastercardMA5.6% of the fund-2%
- RTXRTX5.3% of the fund-3%
- XylemXYL3.1% of the fund-3%
- Walt DisneyDIS3.0% of the fund-2%
- NikeNKE2.9% of the fund-2%
- Thermo Fisher ScientificTMO2.5% of the fund-4%
- Lam ResearchLRCX0.7% of the fund-15%
- Applied MaterialsAMAT0.1% of the fund-30%
- Brown FormanBF-B<0.1% of the fund-4%
- ZoetisZTS<0.1% of the fund-99%
- Idexx LaboratoriesIDXX<0.1% of the fund-96%
Sold out
Sold their entire stake.
Holdings
- Honeywell AerospaceHONA
- Share
- 3.1%
- Value
- $32m
- Shares
- 146,790
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 11.5% | $122m | 609,827 | Held |
| AlphabetGOOG | 10.4% | $110m | 311,939 | Held |
| AmphenolAPH | 8.2% | $87m | 492,974 | Held |
| Amazon.comAMZN | 7.7% | $82m | 343,332 | Held |
| EatonETN | 6.8% | $72m | 169,915 | Held |
| MastercardMA | 5.6% | $60m | 116,106 | -2% |
| Meta PlatformsMETA | 5.6% | $60m | 105,733 | Held |
| RTXRTX | 5.3% | $56m | 294,500 | -3% |
| Intercontinental ExchangeICE | 3.9% | $41m | 335,158 | Held |
| American TowerAMT | 3.3% | $35m | 211,680 | Held |
| XylemXYL | 3.1% | $33m | 278,187 | -3% |
| Honeywell InternationalHON | 3.1% | $33m | 146,789 | New |
| Honeywell AerospaceHONA | 3.1% | $32m | 146,790 | New |
| Walt DisneyDIS | 3.0% | $32m | 332,056 | -2% |
| SalesforceCRM | 3.0% | $32m | 202,695 | +11% |
| NikeNKE | 2.9% | $31m | 754,325 | -2% |
| Abbott LaboratoriesABT | 2.7% | $28m | 311,229 | Held |
| Otis WorldwideOTIS | 2.6% | $28m | 387,610 | Held |
| Thermo Fisher ScientificTMO | 2.5% | $26m | 52,801 | -4% |
| Lam ResearchLRCX | 0.7% | $7m | 16,789 | -15% |
| Eli LillyLLY | 0.5% | $6m | 4,814 | +7% |
| Berkshire HathawayBRK-B | 0.5% | $5m | 9,755 | Held |
| Cadence Design SystemsCDNS | 0.5% | $5m | 12,994 | +4% |
| VisaV | 0.3% | $4m | 10,621 | +4% |
| Arista NetworksANET | 0.3% | $4m | 21,262 | New |
| BlockXYZ | 0.3% | $3m | 45,922 | +5% |
| Estee Lauder CompaniesEL | 0.3% | $3m | 43,937 | +11% |
| Booking HoldingsBKNG | 0.3% | $3m | 17,163 | +3% |
| McDonald'sMCD | 0.2% | $3m | 9,777 | +5% |
| Home DepotHD | 0.2% | $3m | 7,492 | +3% |
| TE ConnectivityTEL | 0.2% | $2m | 9,954 | +4% |
| DexcomDXCM | 0.2% | $2m | 28,232 | +6% |
| Intuitive SurgicalISRG | 0.2% | $2m | 4,337 | +4% |
| LindeLIN | 0.2% | $2m | 3,112 | Held |
| Lowe's CompaniesLOW | 0.2% | $2m | 7,318 | +5% |
| AlphabetGOOGL | 0.1% | $1m | 3,876 | +25% |
| Applied MaterialsAMAT | 0.1% | $1m | 1,600 | -30% |
| Brown FormanBF-B | <0.1% | $651,299 | 24,439 | -4% |
| Northrop GrummanNOC | <0.1% | $376,889 | 740 | Held |
| Lockheed MartinLMT | <0.1% | $359,169 | 705 | Held |
| SLB LimitedSLB | <0.1% | $344,072 | 7,401 | Held |
| AdobeADBE | <0.1% | $310,400 | 1,514 | Held |
| ZoetisZTS | <0.1% | $188,561 | 2,624 | -99% |
| SAP SESAP | <0.1% | $157,500 | 1,022 | +101% |
| DraftKingsDKNG | <0.1% | $134,080 | 5,308 | Held |
| ASML Holding NVASML | <0.1% | $123,345 | 62 | Held |
| Idexx LaboratoriesIDXX | <0.1% | $97,391 | 185 | -96% |
| MicrosoftMSFT | <0.1% | $74,604 | 200 | Held |
| Union PacificUNP | <0.1% | $38,080 | 140 | Held |
| Solstice Advanced MaterialsSOLS | <0.1% | $6,911 | 78 | Held |
| Fidelity National Information ServicesFIS | <0.1% | $6,687 | 172 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 9.5% since 30 June 2025.
Where the money is
Technology24.6%
Industrials24.1%
Media & telecom19.2%
Retail & consumer11.6%
Financial services10.7%
Health care6.1%
Real estate3.3%
Everyday goods0.4%
Materials0.2%
Energy0.0%
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.