Bank Pictet & Cie (Europe) AG

2. Key Holdings

The portfolio is heavily concentrated in US mega-cap technology leaders, which dominate the top ranks. The "Magnificent Seven" stocks feature prominently, with Microsoft Corp holding the top position at $437.55 million (8.73% of the portfolio), followed closely by Amazon.com Inc at $423.13 million (8.45%) and NVIDIA Corporation at $419.03 million (8.36%). Alphabet Inc appears twice in the top ten (likely representing different share classes), combining for a substantial exposure of over 10%.

Beyond technology, the firm holds significant positions in Visa Inc ($200.40M) and Apple Inc ($153.12M). The inclusion of Berkshire Hathaway Inc Del ($67.18M) is notable given the small share count (89 shares), indicating a holding in the high-value Class A shares. The portfolio also features high-quality compounders in the healthcare and industrial sectors, such as Danaher Corp, UnitedHealth Group, and Stryker Corporation, suggesting a barbell strategy of high-growth tech paired with defensive industrials.