INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV

CIK

1569606

Location

BONN, 2M

Portfolio Value

Small $910,669,971

Diversification

Moderately concentrated

Filing Date

Global Rank

#1,717 / 8,045 ▼ 94 · as of Dec 2024

Top Industry

Internet Content & Information 46.9%

3Y Alpha vs SPY

+3.7%

Period ended 1 year ago

Filed Feb 4, 2025 · 1y

20 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+80.5%

SPY

+69.1%

Annualised alpha

+2.6%

Max drawdown

−22.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

19 positions · as of Dec 31, 2024 · Δ vs Sep 30, 2024

Top Position

39.9%

+2.6 pts

Top 5

84.6%

+2.1 pts

Top 10

95.8%

+0.6 pts

HHI

2,474

Moderately concentrated+49

Portfolio Trend

20 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2024

Sector	% Portfolio	Value	Positions
Communication Services	46.9%	$427,112,006	3
Technology	37.1%	$337,626,092	3
Consumer Cyclical	7.7%	$70,515,824	5
Financial Services	7.3%	$66,357,239	6
Industrials	0.8%	$7,463,510	1
Healthcare	0.2%	$1,595,300	1

Last Quarter's Activity

Export CSV

Dec 31, 2024 vs Sep 30, 2024

Added To

Positions the filer increased

3 positions

Ticker	Company	Δ Shares	Shares	Value
NU	Nu Holdings Ltd.	+45,000	145,000	$1,502,200
PDD	PDD Holdings Inc.	+10,000	230,000	$22,307,700
MELI	Mercadolibre Inc	+100	1,500	$2,550,659
No positions match the current search.

Trimmed

Positions the filer reduced

9 positions

Ticker	Company	Δ Shares	Shares	Value
GOOGL	Alphabet Inc.	−238,615	1,918,525	$363,176,782
CVNA	Carvana Co.	−141,152	358,848	$14,595,065
IBKR	Interactive Brokers Group, Inc.	−127,747	125,000	$5,520,937
MSFT	Microsoft Corp	−81,665	591,835	$249,458,452
YUMC	Yum China Holdings, Inc.	−50,000	350,000	$16,859,500
FERG	Ferguson Enterprises Inc. /DE/	−7,500	43,000	$7,463,510
PYPL	PayPal Holdings, Inc.	−5,000	18,500	$1,578,975
BRK-B	Berkshire Hathaway Inc	−3,355	24,325	$11,026,036
SPOT	Spotify Technology S.A.	−1,450	6,800	$3,042,184
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
DIBS	1stdibs.com, Inc.	40,000	$176,400
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

19 positions · $910,669,971 total · as of Dec 31, 2024

All sectors Communication Services Consumer Cyclical Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
GOOGL	Alphabet Inc. Communication Services	Reduced	1,918,525	-238,615	$363,176,782	+1.5%	39.88%
MSFT	Microsoft Corp Technology	Reduced	591,835	-81,665	$249,458,452	−13.9%	27.39%
META	Meta Platforms, Inc. Communication Services	Held	104,000	0	$60,893,040	+2.3%	6.69%
WIX	Wix.com Ltd. Technology	Held	250,000	0	$53,637,500	+28.3%	5.89%
CACC	Credit Acceptance Corp Financial Services	Held	92,000	0	$43,190,320	+5.9%	4.74%
TCX	Tucows Inc /Pa/ Technology	Held	2,014,594	0	$34,530,140	−18.0%	3.79%
PDD	PDD Holdings Inc. Consumer Cyclical	Added	230,000	+10,000	$22,307,700	−24.8%	2.45%
YUMC	Yum China Holdings, Inc. Consumer Cyclical	Reduced	350,000	-50,000	$16,859,500	−6.4%	1.85%
CVNA	Carvana Co. Consumer Cyclical	Reduced	358,848	-141,152	$14,595,065	−16.2%	1.60%
HTHT	H World Group Ltd Consumer Cyclical	Held	430,000	0	$14,202,900	−11.2%	1.56%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	24,325	-3,355	$11,026,036	−13.5%	1.21%
FERG	Ferguson Enterprises Inc. /DE/ Industrials	Reduced	43,000	-7,500	$7,463,510	−25.6%	0.82%
IBKR	Interactive Brokers Group, Inc. Financial Services	Reduced	125,000	-127,747	$5,520,937	−37.3%	0.61%
MKL	Markel Group Inc. Financial Services	Held	2,050	0	$3,538,771	+10.1%	0.39%
SPOT	Spotify Technology S.A. Communication Services	Reduced	6,800	-1,450	$3,042,184	+0.1%	0.33%
MELI	Mercadolibre Inc Consumer Cyclical	Added	1,500	+100	$2,550,659	−11.2%	0.28%
BNTX	BioNTech SE Healthcare	Held	14,000	0	$1,595,300	−4.1%	0.18%
PYPL	PayPal Holdings, Inc. Financial Services	Reduced	18,500	-5,000	$1,578,975	−13.9%	0.17%
NU	Nu Holdings Ltd. Financial Services	Added	145,000	+45,000	$1,502,200	+10.1%	0.16%