13F HOLDINGS REPORT
BLI - Banque de Luxembourg Investments
Quarter ended Q4 2025 · Filed February 11, 2026 · Accession 0002052594-26-000002
Total Value
$3.41B
Positions
178
Other Managers
3
Confidential Omitted
No
Holdings (178)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | MICROSOFT CORPCOM | MSFT | 449,519 | $219.2M | 6.43% |
| 2 | ALPHABET INCCAP STK CL A | GOOG | 583,785 | $183.2M | 5.38% |
| 3 | NVIDIA CORPORATIONCOM | NVDA | 583,809 | $109.5M | 3.21% |
| 4 | AMAZON COM INCCOM | AMZN | 469,390 | $109.1M | 3.20% |
| 5 | APPLE INCCOM | AAPL | 341,817 | $93.3M | 2.74% |
| 6 | UNION PAC CORPCOM | UNP | 375,712 | $87.6M | 2.57% |
| 7 | CANADIAN NATL RY COCOM | 136375102 | 844,888 | $83.7M | 2.45% |
| 8 | VISA INCCOM CL A | V | 233,941 | $82.8M | 2.43% |
| 9 | MASTERCARD INCORPORATEDCL A | MA | 135,087 | $78.0M | 2.29% |
| 10 | TAIWAN SEMICONDUCTOR MFG LTDSPONSORED ADS | 874039100 | 251,800 | $75.5M | 2.21% |
| 11 | ADOBE INCCOM | ADBE | 177,160 | $62.5M | 1.83% |
| 12 | COLGATE PALMOLIVE COCOM | CL | 764,344 | $60.8M | 1.78% |
| 13 | META PLATFORMS INCCL A | META | 85,864 | $57.2M | 1.68% |
| 14 | ACCENTURE PLC IRELANDSHS CLASS A | ACN | 206,099 | $55.7M | 1.63% |
| 15 | FRANCO NEV CORPCOM | FNV | 257,495 | $53.5M | 1.57% |
| 16 | RESMED INCCOM | RSMDF | 215,489 | $52.4M | 1.54% |
| 17 | AGNICO EAGLE MINES LTDCOM | AEM | 303,000 | $51.4M | 1.51% |
| 18 | PEPSICO INCCOM | PEP | 329,172 | $47.5M | 1.39% |
| 19 | VERISK ANALYTICS INCCOM | VRSK | 209,228 | $46.9M | 1.38% |
| 20 | WHEATON PRECIOUS METALS CORPCOM | WPM | 393,500 | $46.2M | 1.36% |
| 21 | ZOETIS INCCL A | ZTS | 328,774 | $41.6M | 1.22% |
| 22 | TJX COS INC NEWCOM | 872540109 | 254,653 | $39.6M | 1.16% |
| 23 | KIMBERLY-CLARK CORPCOM | KMB | 389,281 | $39.5M | 1.16% |
| 24 | WATERS CORPCOM | 941848103 | 100,920 | $38.7M | 1.14% |
| 25 | THERMO FISHER SCIENTIFIC INCCOM | TMO | 65,660 | $38.3M | 1.12% |
| 26 | IDEXX LABS INCCOM | 45168D104 | 55,771 | $38.0M | 1.12% |
| 27 | ROLLINS INCCOM | ROL | 583,950 | $35.3M | 1.04% |
| 28 | IDEX CORPCOM | 45167R104 | 188,900 | $33.9M | 0.99% |
| 29 | MONDELEZ INTL INCCL A | 609207105 | 570,808 | $31.3M | 0.92% |
| 30 | ENBRIDGE INCCOM | ENNPF | 625,295 | $29.9M | 0.88% |
| 31 | CATERPILLAR INCCOM | CAT | 50,895 | $29.4M | 0.86% |
| 32 | ORLA MNG LTD NEWCOM | 68634K106 | 2,130,000 | $28.6M | 0.84% |
| 33 | S&P GLOBAL INCCOM | SPGI | 53,461 | $28.2M | 0.83% |
| 34 | CHECK POINT SOFTWARE TECH LTORD | M22465104 | 149,700 | $28.1M | 0.82% |
| 35 | SITEONE LANDSCAPE SUPPLY INCCOM | SITE | 216,913 | $27.5M | 0.81% |
| 36 | ALAMOS GOLD INC NEWCOM CL A | AGI | 690,000 | $26.7M | 0.78% |
| 37 | ABBOTT LABSCOM | ABLZF | 200,725 | $25.3M | 0.74% |
| 38 | BROADCOM INCCOM | AVGO | 70,632 | $24.7M | 0.73% |
| 39 | NIKE INCCL B | NKE | 392,500 | $24.0M | 0.70% |
| 40 | JOHNSON & JOHNSONCOM | JNJ | 109,599 | $22.7M | 0.67% |
| 41 | APPLIED MATLS INCCOM | 038222105 | 86,742 | $22.6M | 0.66% |
| 42 | ROYAL GOLD INCCOM | RGLD | 100,000 | $22.5M | 0.66% |
| 43 | MOODYS CORPCOM | MCO | 43,293 | $22.3M | 0.66% |
| 44 | SYNOPSYS INCCOM | SNPS | 46,044 | $21.8M | 0.64% |
| 45 | ARISTA NETWORKS INCCOM SHS | ANET | 164,448 | $21.8M | 0.64% |
| 46 | AUTODESK INCCOM | ADSK | 71,151 | $21.3M | 0.63% |
| 47 | DANAHER CORPORATIONCOM | 235851102 | 90,290 | $20.8M | 0.61% |
| 48 | KLA CORPCOM NEW | KLAC | 16,574 | $20.6M | 0.61% |
| 49 | ROPER TECHNOLOGIES INCCOM | ROP | 42,851 | $19.3M | 0.57% |
| 50 | ELI LILLY & COCOM | LLY | 17,500 | $18.9M | 0.55% |
| 51 | PROCTER AND GAMBLE COCOM | 742718109 | 130,981 | $18.9M | 0.55% |
| 52 | HENRY JACK & ASSOC INCCOM | 426281101 | 99,400 | $18.3M | 0.54% |
| 53 | EQUIFAX INCCOM | EFX | 82,540 | $18.2M | 0.53% |
| 54 | CLOROX CO DELCOM | CLX | 169,720 | $17.1M | 0.50% |
| 55 | TYLER TECHNOLOGIES INCCOM | TYL | 34,820 | $16.0M | 0.47% |
| 56 | ZEBRA TECHNOLOGIES CORPORATICL A | ZBRA | 63,900 | $15.8M | 0.46% |
| 57 | NORDSON CORPCOM | NDSN | 64,600 | $15.8M | 0.46% |
| 58 | NEWMONT CORPCOM | NEMCL | 154,500 | $15.7M | 0.46% |
| 59 | CHEMED CORP NEWCOM | CHE | 35,500 | $15.3M | 0.45% |
| 60 | BERKSHIRE HATHAWAY INC DELCL B NEW | BRK-A | 30,000 | $15.1M | 0.44% |
| 61 | SERVICENOW INCCOM | NOW | 96,105 | $14.8M | 0.43% |
| 62 | MSCI INCCOM | MSCI | 25,240 | $14.7M | 0.43% |
| 63 | EDWARDS LIFESCIENCES CORPCOM | EW | 169,530 | $14.6M | 0.43% |
| 64 | UNITEDHEALTH GROUP INCCOM | UNH | 42,683 | $14.2M | 0.42% |
| 65 | AMETEK INCCOM | AME | 68,430 | $14.2M | 0.42% |
| 66 | WEST PHARMACEUTICAL SVSC INCCOM | 955306105 | 49,900 | $13.8M | 0.41% |
| 67 | VEEVA SYS INCCL A COM | VEEV | 60,265 | $13.5M | 0.40% |
| 68 | TEXAS PACIFIC LAND CORPORATICOM | TPL | 45,900 | $13.4M | 0.39% |
| 69 | BRISTOL-MYERS SQUIBB COCOM | CELG-RI | 247,000 | $13.4M | 0.39% |
| 70 | MANHATTAN ASSOCIATES INCCOM | MANH | 74,100 | $12.9M | 0.38% |
| 71 | IQVIA HLDGS INCCOM | IQV | 55,825 | $12.7M | 0.37% |
| 72 | PAYCHEX INCCOM | PAYX | 109,965 | $12.5M | 0.37% |
| 73 | XYLEM INCCOM | XYL | 90,051 | $12.4M | 0.36% |
| 74 | GLOBUS MED INCCL A | GMED | 136,500 | $12.0M | 0.35% |
| 75 | BURLINGTON STORES INCCOM | BURL | 41,600 | $12.0M | 0.35% |
| 76 | BOOKING HOLDINGS INCCOM | BKNG | 2,198 | $11.9M | 0.35% |
| 77 | CORE & MAIN INCCL A | CNM | 224,400 | $11.9M | 0.35% |
| 78 | BIO-TECHNE CORPCOM | TECH | 198,100 | $11.7M | 0.34% |
| 79 | CUMMINS INCCOM | CMI | 22,749 | $11.7M | 0.34% |
| 80 | AAON INCCOM | AAON | 147,200 | $11.6M | 0.34% |
| 81 | EXPONENT INCCOM | EXPO | 162,649 | $11.4M | 0.34% |
| 82 | LOWES COS INCCOM | 548661107 | 46,911 | $11.4M | 0.33% |
| 83 | CHURCH & DWIGHT CO INCCOM | CHD | 134,300 | $11.3M | 0.33% |
| 84 | LAM RESEARCH CORPCOM NEW | LRCX | 64,000 | $11.1M | 0.33% |
| 85 | BECTON DICKINSON & COCOM | BDX | 56,000 | $11.0M | 0.32% |
| 86 | HONEYWELL INTL INCCOM | 438516106 | 53,274 | $10.5M | 0.31% |
| 87 | NETFLIX INCCOM | NFLX | 108,000 | $10.1M | 0.30% |
| 88 | LENNOX INTL INCCOM | 526107107 | 20,300 | $10.0M | 0.29% |
| 89 | GRACO INCCOM | GGG | 120,600 | $10.0M | 0.29% |
| 90 | OTIS WORLDWIDE CORPCOM | OTIS | 113,377 | $10.0M | 0.29% |
| 91 | CDW CORPCOM | CDW | 71,500 | $9.9M | 0.29% |
| 92 | WATSCO INCCOM | WSO-B | 28,500 | $9.8M | 0.29% |
| 93 | BENTLEY SYS INCCOM CL B | BSY | 252,000 | $9.7M | 0.29% |
| 94 | LINDE PLCSHS | LIN | 22,700 | $9.7M | 0.29% |
| 95 | POOL CORPCOM | POOL | 41,300 | $9.5M | 0.28% |
| 96 | HOME DEPOT INCCOM | HD | 27,516 | $9.5M | 0.28% |
| 97 | YUM CHINA HLDGS INCCOM | YUMC | 200,300 | $9.5M | 0.28% |
| 98 | COOPER COS INCCOM | 216648501 | 114,200 | $9.4M | 0.28% |
| 99 | AUTOMATIC DATA PROCESSING INCOM | ADP | 35,400 | $9.2M | 0.27% |
| 100 | ALPHABET INCCAP STK CL C | GOOG | 29,000 | $9.1M | 0.27% |
| 101 | PAYCOM SOFTWARE INCCOM | PAYC | 56,300 | $9.0M | 0.27% |
| 102 | METTLER TOLEDO INTERNATIONALCOM | MTD | 6,300 | $8.9M | 0.26% |
| 103 | LITTELFUSE INCCOM | LFUS | 34,500 | $8.9M | 0.26% |
| 104 | EATON CORP PLCSHS | ETN | 24,715 | $7.9M | 0.23% |
| 105 | VERISIGN INCCOM | VRSN | 31,340 | $7.7M | 0.23% |
| 106 | ORACLE CORPCOM | ORCL-PD | 38,136 | $7.5M | 0.22% |
| 107 | DOMINOS PIZZA INCCOM | DPZ | 17,400 | $7.3M | 0.22% |
| 108 | ULTA BEAUTY INCCOM | ULTA | 12,000 | $7.3M | 0.21% |
| 109 | ALCON AGORD SHS | ALC | 88,661 | $7.1M | 0.21% |
| 110 | TRACTOR SUPPLY COCOM | TSCO | 140,600 | $7.1M | 0.21% |
| 111 | SMITH A O CORPCOM | AOS | 100,300 | $6.8M | 0.20% |
| 112 | QUALCOMM INCCOM | QCOM | 39,000 | $6.8M | 0.20% |
| 113 | LOGITECH INTL S ASHS | H50430232 | 64,582 | $6.6M | 0.19% |
| 114 | MASIMO CORPCOM | MASI | 48,839 | $6.4M | 0.19% |
| 115 | COSTCO WHSL CORP NEWCOM | 22160K105 | 7,100 | $6.1M | 0.18% |
| 116 | MERCK & CO INCCOM | MRK | 55,500 | $5.9M | 0.17% |
| 117 | CHIPOTLE MEXICAN GRILL INCCOM | CMG | 157,000 | $5.8M | 0.17% |
| 118 | WALMART INCCOM | WMT | 51,000 | $5.7M | 0.17% |
| 119 | COCA-COLA FEMSA SAB DE CVSPONS ADS REP | COCSF | 60,000 | $5.7M | 0.17% |
| 120 | APPLOVIN CORPCOM CL A | APP | 8,000 | $5.5M | 0.16% |
| 121 | ILLINOIS TOOL WKS INCCOM | 452308109 | 21,900 | $5.5M | 0.16% |
| 122 | ATMOS ENERGY CORPCOM | ATO | 32,000 | $5.4M | 0.16% |
| 123 | FULL TRUCK ALLIANCE CO LTDSPONSORED ADS | YMM | 482,000 | $5.3M | 0.15% |
| 124 | COMPANIA CERVECERIAS UNIDASSPONSORED ADR | 204429104 | 400,000 | $5.1M | 0.15% |
| 125 | MAGNUM ICE CREAM CO NVORD SHS | MICC | 317,598 | $5.1M | 0.15% |
| 126 | TRANE TECHNOLOGIES PLCSHS | TT | 12,400 | $4.9M | 0.14% |
| 127 | FERRARI N VCOM | RACE | 12,800 | $4.8M | 0.14% |
| 128 | PROLOGIS INC.COM | PLDGP | 37,000 | $4.8M | 0.14% |
| 129 | UBER TECHNOLOGIES INCCOM | UBER | 53,000 | $4.4M | 0.13% |
| 130 | CINTAS CORPCOM | CTAS | 22,500 | $4.3M | 0.13% |
| 131 | ADVANCED DRAIN SYS INC DELCOM | 00790R104 | 28,400 | $4.2M | 0.12% |
| 132 | GARMIN LTDSHS | GRMN | 19,000 | $3.9M | 0.11% |
| 133 | D R HORTON INCCOM | 23331A109 | 26,700 | $3.9M | 0.11% |
| 134 | FORTINET INCCOM | FTNT | 48,000 | $3.9M | 0.11% |
| 135 | COCA COLA COCOM | KO | 54,631 | $3.8M | 0.11% |
| 136 | OKLO INCCOM CL A | OKLO | 52,000 | $3.7M | 0.11% |
| 137 | BLACKROCK INCCOM | BLK | 3,300 | $3.6M | 0.10% |
| 138 | DEXCOM INCCOM | DXCM | 50,000 | $3.4M | 0.10% |
| 139 | WESCO INTL INCCOM | 95082P105 | 13,000 | $3.2M | 0.10% |
| 140 | WILLIAMS SONOMA INCCOM | WSM | 17,100 | $3.1M | 0.09% |
| 141 | LULULEMON ATHLETICA INCCOM | LULU | 14,700 | $3.1M | 0.09% |
| 142 | WW GRAINGER INCCOM | 384802104 | 3,000 | $3.1M | 0.09% |
| 143 | BADGER METER INCCOM | BMI | 17,000 | $3.0M | 0.09% |
| 144 | CADENCE DESIGN SYSTEM INCCOM | CDNS | 9,560 | $3.0M | 0.09% |
| 145 | PROGRESSIVE CORPCOM | 743315103 | 13,000 | $3.0M | 0.09% |
| 146 | FASTENAL COCOM | FAST | 70,000 | $2.9M | 0.08% |
| 147 | NVR INCCOM | NVR | 360 | $2.6M | 0.08% |
| 148 | PULTE GROUP INCCOM | 745867101 | 22,000 | $2.6M | 0.08% |
| 149 | TRADEWEB MKTS INCCL A | 892672106 | 24,000 | $2.6M | 0.08% |
| 150 | LINCOLN ELEC HLDGS INCCOM | 533900106 | 10,300 | $2.5M | 0.07% |
| 151 | VERTEX PHARMACEUTICALS INCCOM | VRTX | 5,500 | $2.5M | 0.07% |
| 152 | SIMON PPTY GROUP INC NEWCOM | 828806109 | 12,100 | $2.3M | 0.07% |
| 153 | CME GROUP INCCOM | CME | 8,000 | $2.2M | 0.06% |
| 154 | QUALYS INCCOM | QLYS | 16,000 | $2.2M | 0.06% |
| 155 | PUBLIC STORAGE OPER COCOM | PSA-PS | 8,200 | $2.1M | 0.06% |
| 156 | MOTOROLA SOLUTIONS INCCOM NEW | MSI | 5,400 | $2.1M | 0.06% |
| 157 | MONOLITHIC PWR SYS INCCOM | 609839105 | 2,200 | $2.0M | 0.06% |
| 158 | INSULET CORPCOM | PODD | 5,002 | $1.4M | 0.04% |
| 159 | EXXON MOBIL CORPCOM | XOM | 9,900 | $1.2M | 0.04% |
| 160 | WELLS FARGO CO NEWCOM | 949746101 | 11,300 | $1.1M | 0.03% |
| 161 | JPMORGAN CHASE & CO.COM | VYLD | 3,200 | $1.0M | 0.03% |
| 162 | CHEVRON CORP NEWCOM | CVX | 6,600 | $1.0M | 0.03% |
| 163 | PEMBINA PIPELINE CORPCOM | PPLOF | 20,800 | $793,811 | 0.02% |
| 164 | TERADYNE INCCOM | TER | 3,200 | $629,546 | 0.02% |
| 165 | ANALOG DEVICES INCCOM | ADI | 1,333 | $366,350 | 0.01% |
| 166 | AMGEN INCCOM | AMGN | 1,003 | $329,599 | 0.01% |
| 167 | ABBVIE INCCOM | ABBV | 1,399 | $321,440 | 0.01% |
| 168 | JOHNSON CTLS INTL PLCSHS | G51502105 | 2,584 | $312,548 | 0.01% |
| 169 | GILEAD SCIENCES INCCOM | GILD | 2,531 | $311,832 | 0.01% |
| 170 | STRYKER CORPORATIONCOM | SYK | 773 | $273,781 | 0.01% |
| 171 | TEXAS INSTRS INCCOM | 882508104 | 1,421 | $249,246 | 0.01% |
| 172 | EBAY INC.COM | EBAY | 2,796 | $243,514 | 0.01% |
| 173 | ALIBABA GROUP HLDG LTDSPONSORED ADS | BBAAY | 1,400 | $206,354 | 0.01% |
| 174 | CONSTELLATION BRANDS INCCL A | STZ | 1,410 | $197,619 | 0.01% |
| 175 | AGILENT TECHNOLOGIES INCCOM | A | 1,399 | $192,503 | 0.01% |
| 176 | EMERSON ELEC COCOM | EMR | 1,399 | $189,306 | 0.01% |
| 177 | DECKERS OUTDOOR CORPCOM | DECK | 1,800 | $189,098 | 0.01% |
| 178 | ECOLAB INCCOM | ECL | 640 | $169,280 | 0.00% |