INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV

CIK

1569606

Location

BONN, 2M

Portfolio Value

Mid $1,355,555,059

Diversification

Highly concentrated

Reports for

Rentrop Norman

Filing Date

Global Rank

#1,709 / 8,184 ▼ 111 · as of Dec 2024

Top Industry

Internet Content & Information 50.0%

Period ended 1 year ago

Filed Feb 4, 2025 · 1y

20 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Schedule 13D/13G stakes

Stakes of 5% or more disclosed on Schedule 13D or 13G, each on the filer's latest filing for the security. These are event-dated stakes, not the quarter-end 13F portfolio below.

No stake currently held at or above 5%.

A 13D or 13G stays in force until its filer amends it and no amendment is due without a material change, so a stake with no filing in 24 months reads unconfirmed, never sold. An amendment reporting under 5% ends the filer's duty to amend, not necessarily the holding. Shares are restated onto today's split basis. Show 1 exited, below-5% or retired stake

Portfolio style

Measured from the filed 13F common-share book for Dec 31, 2024, never from the firm's own description.

Style

Concentrated

The top 10 positions are 96.1% of the book (60%+)

Turnover

Low turnover

4.5% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 18.8 quarters (12+), a floor since 89.6% of the book was already held when coverage starts

Closest benchmark: the Nasdaq-100 as of 2024-12-31, active share 82.3%; sector active share 44.7% against the combined 13F book's sector weights.

Over time 20 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

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

Top Position

45.2%

+3.1 pts

Top 5

83.2%

+0.3 pts

Top 10

96.1%

+0.2 pts

HHI

2,569

Highly concentrated+190

Portfolio Trend

20 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2024

Sector	% Portfolio	Value	Positions
Communication Services	50.0%	$677,212,097	4
Technology	24.9%	$337,626,092	3
Financial Services	15.0%	$202,761,972	7
Consumer Cyclical	9.5%	$128,896,088	5
Industrials	0.6%	$7,463,510	1
Healthcare	0.1%	$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

11 positions

Ticker	Company	Δ Shares	Shares	Value
GOOGL	Alphabet Inc.	−238,615	1,918,525	$363,176,782
GOOG	Alphabet Inc.	−181,225	1,313,275	$250,100,091
CVNA	Carvana Co.	−141,152	358,848	$72,975,329
IBKR	Interactive Brokers Group, Inc.	−127,747	125,000	$22,083,750
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.	−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
BRK-A	Berkshire Hathaway Inc	−24	176	$119,841,920
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

21 tracked positions · $1,355,555,059 total · filing declares 19 positions · $1,365,577,273 · 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	Held (qtrs)	Est. cost/share	% of Portfolio
GOOGL	Alphabet Inc. Communication Services	Reduced	1,918,525	-238,615	$363,176,782	+1.5%	20+	before history	26.79%
GOOG	Alphabet Inc. Communication Services	Reduced	1,313,275	-181,225	$250,100,091	+0.1%	20+	before history	18.45%
MSFT	Microsoft Corp Technology	Reduced	591,835	-81,665	$249,458,452	−13.9%	20+	before history	18.40%
BRK-A	Berkshire Hathaway Inc Financial Services	Reduced	176	-24	$119,841,920	−13.3%	20+	before history	8.84%
CVNA	Carvana Co. Consumer Cyclical	Reduced	358,848	-141,152	$72,975,329	−16.2%	13	$130.66	5.38%
META	Meta Platforms, Inc. Communication Services	Held	104,000	0	$60,893,040	+2.3%	20+	before history	4.49%
WIX	Wix.com Ltd. Technology	Held	250,000	0	$53,637,500	+28.3%	20+	before history	3.96%
CACC	Credit Acceptance Corp Financial Services	Held	92,000	0	$43,190,320	+5.9%	20+	before history	3.19%
TCX	Tucows Inc Technology	Held	2,014,594	0	$34,530,140	−18.0%	20+	before history	2.55%
PDD	PDD Holdings Inc. Consumer Cyclical	Added	230,000	+10,000	$22,307,700	−24.8%	6	$107.35	1.65%
IBKR	Interactive Brokers Group, Inc. Financial Services	Reduced	125,000	-127,747	$22,083,750	−37.3%	20+	before history	1.63%
YUMC	Yum China Holdings, Inc. Consumer Cyclical	Reduced	350,000	-50,000	$16,859,500	−6.4%	2	$33.29	1.24%
HTHT	H World Group Ltd Consumer Cyclical	Held	430,000	0	$14,202,900	−11.2%	2	$30.34	1.05%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	24,325	-3,355	$11,026,036	−13.5%	20+	before history	0.81%
FERG	Ferguson Enterprises Inc. Industrials	Reduced	43,000	-7,500	$7,463,510	−25.6%	2	$202.58	0.55%
MKL	Markel Group Inc. Financial Services	Held	2,050	0	$3,538,771	+10.1%	20+	before history	0.26%
SPOT	Spotify Technology S.A. Communication Services	Reduced	6,800	-1,450	$3,042,184	+0.1%	11	$97.34	0.22%
MELI	Mercadolibre Inc Consumer Cyclical	Added	1,500	+100	$2,550,659	−11.2%	20+	before history	0.19%
BNTX	BioNTech SE Healthcare	Held	14,000	0	$1,595,300	−4.1%	8	$108.18	0.12%
PYPL	PayPal Holdings, Inc. Financial Services	Reduced	18,500	-5,000	$1,578,975	−13.9%	8	$74.49	0.12%
NU	Nu Holdings Ltd. Financial Services	Added	145,000	+45,000	$1,502,200	+10.1%	9	$7.14	0.11%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.