Sustainable Growth Advisers (George Fraise & Gordon March&) latest 13F portfolio: 47 holdings worth $10.2B as of Q2 2026.
Backtested since 2020: mirroring Sustainable Growth Advisers's reported 13F equity holdings each quarter would have returned +79.9% versus +189.2%for the S&P 500 (+9.7% annualized). See the Performance tab for the full equity curve.
Investor: George Fraise & Gordon March&
Number of Assets: 47
Reporting Period: Q2 - 2026
Holdings at Report: $10,190,707,647
Return $ Since Report: +$616,906,921
Return % Since Report: +6.05%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Bank Limited (HDB) | Equity | -27.31% | 3,798,850 | 0.96% | $25.83 | $23.65 | $98,124,295 | $89,842,803 | -$8,281,493 | -8.44% |
| Infosys Limited (INFY) | Equity | -23.73% | 881,580 | 0.09% | $10.49 | $10.89 | $9,247,774 | $9,600,406 | +$352,632 | +3.81% |
| Amazon.com Inc. (AMZN) | Equity | -30.26% | 2,281,329 | 5.34% | $238.34 | $258.45 | $543,731,954 | $589,609,480 | +$45,877,526 | +8.44% |
| Danaher Corp. (DHR) | Equity | -9.23% | 1,485,298 | 2.78% | $190.48 | $215.84 | $282,919,563 | $320,586,720 | +$37,667,157 | +13.31% |
| Ecolab Inc. (ECL) | Equity | +9.51% | 927,791 | 2.54% | $278.61 | $269.98 | $258,491,851 | $250,485,014 | -$8,006,837 | -3.10% |
| Equinix Inc. (EQIX) | Equity | +100% | 346,868 | 3.55% | $1,042.39 | $1,057.26 | $361,571,734 | $366,729,662 | +$5,157,928 | +1.43% |
| Meta Platforms Inc. (META) | Equity | -12.22% | 611,981 | 3.38% | $563.29 | $741.25 | $344,722,778 | $453,627,856 | +$108,905,078 | +31.59% |
| Sea Limited (SE) | Equity | -36.48% | 400,167 | 0.38% | $95.83 | $102.65 | $38,348,004 | $41,077,143 | +$2,729,139 | +7.12% |
| Servicenow Inc. (NOW) | Equity | +32.45% | 1,331,464 | 1.30% | $99.28 | $137.68 | $132,187,746 | $183,315,964 | +$51,128,218 | +38.68% |
| Shopify Inc. (SHOP) | Equity | -8.58% | 74,128 | 0.08% | $114.18 | $137.92 | $8,463,935 | $10,223,734 | +$1,759,799 | +20.79% |
| Alphabet Inc. (GOOG) | Equity | +12.53% | 2,129,711 | 7.38% | $353.33 | $350.87 | $752,490,788 | $747,251,699 | -$5,239,089 | -0.70% |
| Apple Inc. (AAPL) | Equity | +14.53% | 1,747,382 | 4.96% | $289.36 | $338.98 | $505,622,456 | $592,327,550 | +$86,705,094 | +17.15% |
| Arista Networks Inc. (ANET) | Equity | +100% | 909,167 | 1.52% | $169.88 | $205.42 | $154,449,290 | $186,761,085 | +$32,311,795 | +20.92% |
| Arm Holdings PLC (ARM) | Equity | -80.77% | 385,965 | 1.34% | $354.57 | $322.90 | $136,851,610 | $124,628,099 | -$12,223,512 | -8.93% |
| The Cooper Companies Inc. (COO) | Equity | -5.17% | 1,948,108 | 1.37% | $71.71 | $54.12 | $139,698,824 | $105,431,605 | -$34,267,219 | -24.53% |
| Linde PLC (LIN) | Equity | +518.46% | 151,670 | 0.77% | $518.94 | $457.50 | $78,707,629 | $69,389,025 | -$9,318,604 | -11.84% |
| Nike Inc. (NKE) | Equity | -5.13% | 2,433,226 | 0.98% | $41.05 | $36.10 | $99,883,927 | $87,839,459 | -$12,044,468 | -12.06% |
| Nvidia Corp. (NVDA) | Equity | -2.67% | 4,720,144 | 9.27% | $200.09 | $227.38 | $944,453,613 | $1,073,266,343 | +$128,812,730 | +13.64% |
| Visa Inc. (V) | Equity | -17.57% | 1,442,706 | 4.86% | $343.09 | $369.95 | $494,978,002 | $533,729,085 | +$38,751,083 | +7.83% |
| W.W. Grainger Inc. (GWW) | Equity | -7.05% | 196,046 | 2.62% | $1,360.40 | $1,277.79 | $266,700,978 | $250,505,618 | -$16,195,360 | -6.07% |
| Waste Connections Inc. (WCN) | Equity | +12.01% | 109,933 | 0.18% | $166.69 | $155.55 | $18,324,732 | $17,100,078 | -$1,224,654 | -6.68% |
| Alibaba Group Holding Limited (BABA) | Equity | -27.10% | 199,370 | 0.19% | $95.98 | $115.75 | $19,135,532 | $23,077,078 | +$3,941,545 | +20.60% |
| Broadcom Inc. (AVGO) | Equity | -12.80% | 1,275,451 | 4.73% | $377.75 | $362.66 | $481,801,616 | $462,555,060 | -$19,246,556 | -3.99% |
| Canadian Pacific Kansas City Limited (CP) | Equity | -37.68% | 3,247,192 | 2.76% | $86.65 | $86.81 | $281,369,186 | $281,888,738 | +$519,552 | +0.18% |
| Chipotle Mexican Grill Inc. (CMG) | Equity | -12.11% | 6,871,158 | 2.29% | $34.00 | $33.14 | $233,619,372 | $227,710,176 | -$5,909,196 | -2.53% |
| Grab Holdings Limited (GRAB) | Equity | -20.71% | 4,607,822 | 0.17% | $3.77 | $2.91 | $17,371,489 | $13,408,762 | -$3,962,727 | -22.81% |
| Mastercard Inc. (MA) | Equity | +0.92% | 379,868 | 1.91% | $513.60 | $567.65 | $195,100,205 | $215,632,070 | +$20,531,865 | +10.52% |
| Netflix Inc. (NFLX) | Equity | +19.11% | 4,062,760 | 2.85% | $71.40 | $73.36 | $290,081,064 | $298,044,074 | +$7,963,010 | +2.75% |
| S&P Global Inc. (SPGI) | Equity | -12.41% | 663,329 | 2.65% | $407.26 | $404.47 | $270,147,369 | $268,296,681 | -$1,850,688 | -0.69% |
| Steris PLC (STE) | Equity | -31.42% | 375,237 | 0.78% | $210.57 | $206.97 | $79,013,655 | $77,662,802 | -$1,350,853 | -1.71% |
| Synopsys Inc. (SNPS) | Equity | -10.39% | 807,346 | 3.53% | $446.07 | $401.85 | $360,132,831 | $324,431,990 | -$35,700,841 | -9.91% |
| Adyen ADR (ADYEY) | Equity | -96.46% | 10,444 | 0.00% | $9.31 | $10.23 | $97,233 | $106,842 | +$9,609 | +9.88% |
| Alcon Inc. (ALC) | Equity | -79.63% | 224,494 | 0.15% | $67.10 | $64.87 | $15,063,547 | $14,562,926 | -$500,621 | -3.32% |
| American Express Company (AXP) | Equity | -11.99% | 987,506 | 3.28% | $338.25 | $313.59 | $334,023,905 | $309,672,007 | -$24,351,898 | -7.29% |
| Aon PLC (AON) | Equity | -76.96% | 242,284 | 0.79% | $331.69 | $290.82 | $80,363,180 | $70,461,033 | -$9,902,147 | -12.32% |
| Fomento Económico Mexicano S.A.B. De C.V. (FMX) | Equity | -36.25% | 105,248 | 0.13% | $127.90 | $119.86 | $13,461,219 | $12,615,025 | -$846,194 | -6.29% |
| Mercadolibre Inc. (MELI) | Equity | -36.23% | 33,508 | 0.56% | $1,697.39 | $1,820.47 | $56,876,144 | $61,000,309 | +$4,124,165 | +7.25% |
| Nu Holdings Ltd. (NU) | Equity | +100% | 468,797 | 0.06% | $13.36 | $14.06 | $6,263,128 | $6,591,286 | +$328,158 | +5.24% |
| Salesforce Inc. (CRM) | Equity | -13.54% | 1,504,598 | 2.31% | $156.66 | $236.42 | $235,710,323 | $355,717,059 | +$120,006,736 | +50.91% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | -30.55% | 90,462 | 0.42% | $477.57 | $445.14 | $43,201,937 | $40,268,255 | -$2,933,682 | -6.79% |
| Unilever PLC (UL) | Equity | -23.45% | 310,450 | 0.18% | $60.12 | $62.17 | $18,664,254 | $19,300,677 | +$636,423 | +3.41% |
| Waste Management Inc. (WM) | Equity | +1.98% | 2,061,651 | 4.51% | $222.88 | $207.04 | $459,500,775 | $426,844,223 | -$32,656,552 | -7.11% |
| XP Inc. (XP) | Equity | -29.68% | 489,754 | 0.08% | $16.26 | $20.78 | $7,963,401 | $10,177,088 | +$2,213,687 | +27.80% |
| Yum! Brands Inc. (YUM) | Equity | +10.51% | 2,498,040 | 3.92% | $159.86 | $139.33 | $399,336,674 | $348,051,913 | -$51,284,761 | -12.84% |
| Microsoft Corp. (MSFT) | Equity | -4.08% | 1,505,003 | 5.51% | $373.02 | $501.61 | $561,396,219 | $754,924,555 | +$193,528,336 | +34.47% |
| Spotify Technology S.A. (SPOT) | Equity | 0% | 14,877 | 0.07% | $459.13 | $516.77 | $6,830,477 | $7,687,987 | +$857,510 | +12.55% |
| SAP SE (SAP) | Equity | -25.80% | 351,771 | 0.53% | $154.11 | $209.22 | $54,211,429 | $73,597,529 | +$19,386,100 | +35.76% |