Our Portfolio
Holdings by Region
States
funds
Kingdom
Exposure by listing location at 30 June 2026. “Global funds” covers ECP Global Growth Fund and BIP BCI Worldwide Flexible Fund, whose mandates span multiple regions and are not allocated to a single country.
Portfolio weights
Hathaway
Growth
UK
Worldwide
Life
Investments
US
Portfolio weights at 30 June 2026. Total portfolio value $49,969,505.
Principal holdings
Every position in the portfolio at 30 June 2026, with its weight. Three are listed companies held directly; four are managed funds through which the Fund gains further exposure.
Berkshire Hathaway
Portfolio weight60.0%
Diversified FinancialsNYSE: BRK
Diversified holding company with insurance, energy, rail and manufacturing operations.
ECP Global Growth Fund
Portfolio weight24.7%
Global EquitiesUnlisted managed fund
Global equities mandate investing in quality growth businesses worldwide.
EC Pohl & Co Resilient Quality Fund — UK
Portfolio weight5.3%
UK EquitiesUnlisted managed fund
United Kingdom mandate investing in resilient, quality businesses.
BIP BCI Worldwide Flexible Fund
Portfolio weight3.5%
Worldwide FlexibleUnlisted managed fund
Worldwide flexible mandate investing across global equities and other asset classes.
NobleOak Life
Portfolio weight2.7%
Life InsuranceASX: NOL
Australian life insurer offering cover directly and through advisers.
Flagship Investments
Portfolio weight2.1%
Listed Investment CompanyASX: FSI
Australian listed investment company holding a concentrated portfolio of quality businesses.
EC Pohl & Co Resilient Quality Fund — US
Portfolio weight1.7%
US EquitiesUnlisted managed fund
United States mandate investing in resilient, quality businesses.
Cash
Portfolio weight0.1%
Cash and equivalents
Cash and cash equivalents held pending investment.
| Holding | Sector | Exchange | Portfolio weight |
|---|---|---|---|
| Berkshire Hathaway | Diversified Financials | NYSE: BRK | 60.0% |
| ECP Global Growth Fund | Global Equities | Unlisted managed fund | 24.7% |
| EC Pohl & Co Resilient Quality Fund — UK | UK Equities | Unlisted managed fund | 5.3% |
| BIP BCI Worldwide Flexible Fund | Worldwide Flexible | Unlisted managed fund | 3.5% |
| NobleOak Life | Life Insurance | ASX: NOL | 2.7% |
| Flagship Investments | Listed Investment Company | ASX: FSI | 2.1% |
| EC Pohl & Co Resilient Quality Fund — US | US Equities | Unlisted managed fund | 1.7% |
| Cash | Cash and equivalents | — | 0.1% |
- Weights are stated as a percentage of the total portfolio at 30 June 2026. Total portfolio value $49,969,505.
- Business descriptions are prepared by Global Masters Fund and are not part of the Fund’s audited disclosures.
Fund investments
Where the Fund invests through a managed fund, we look through to that fund’s own holdings so shareholders can see what sits underneath.
ECP Global Growth Fund
Global Masters Fund holds units in the ECP Global Growth Fund (Aust), an Australian-domiciled managed fund managed by EC Pohl & Co (ARSN 679 892 285, APIR ECP6796AU). The fund holds typically 30 to 45 globally listed quality growth companies. Its ten largest holdings at 31 July 2026 are set out below.
Block
Fund weight5.9%
FinancialsNYSE
Payments and financial services, operating Square and Cash App.
Megaport
Fund weight5.6%
Information TechnologyASX
Network-as-a-service provider connecting businesses to cloud platforms.
Hemnet Group
Fund weight4.8%
Communication ServicesNasdaq Stockholm
Sweden’s largest residential property listings marketplace.
AppLovin
Fund weight4.5%
Information TechnologyNasdaq
Software platform for mobile app marketing and monetisation.
Fair Isaac
Fund weight4.2%
Information TechnologyNYSE
Credit scoring and decision analytics, best known for the FICO score.
Adyen
Fund weight4.0%
FinancialsEuronext Amsterdam
Single-platform payments processor for global merchants.
Copart
Fund weight3.9%
IndustrialsNasdaq
Online auction marketplace for salvage and used vehicles.
Alphabet
Fund weight3.7%
Communication ServicesNasdaq
Technology group operating Google Search, YouTube and Google Cloud.
Spirax Group
Fund weight3.7%
IndustrialsLondon Stock Exchange
Thermal energy and niche pumping equipment for industrial processes.
Raspberry Pi Holdings
Fund weight3.6%
Information TechnologyLondon Stock Exchange
Low-cost single-board computers and embedded compute modules.
| Holding | Sector | Exchange | Fund weight |
|---|---|---|---|
| Block | Financials | NYSE | 5.9% |
| Megaport | Information Technology | ASX | 5.6% |
| Hemnet Group | Communication Services | Nasdaq Stockholm | 4.8% |
| AppLovin | Information Technology | Nasdaq | 4.5% |
| Fair Isaac | Information Technology | NYSE | 4.2% |
| Adyen | Financials | Euronext Amsterdam | 4.0% |
| Copart | Industrials | Nasdaq | 3.9% |
| Alphabet | Communication Services | Nasdaq | 3.7% |
| Spirax Group | Industrials | London Stock Exchange | 3.7% |
| Raspberry Pi Holdings | Information Technology | London Stock Exchange | 3.6% |
No holdings in this sector among the fund’s ten largest positions.
- Fund weights are a percentage of the ECP Global Growth Fund, not of the Global Masters Fund portfolio. The ECP Global Growth Fund represents 24.7% of the portfolio at 30 June 2026.
- Source: EC Pohl & Co monthly fund update, 31 July 2026. The ten largest holdings only; the fund holds typically 30 to 45 positions.
- Look-through holdings are not published for the EC Pohl & Co Resilient Quality Funds or the BIP BCI Worldwide Flexible Fund, which together represent 10.5% of the portfolio.
Portfolio structure
equities
funds
How the portfolio is held at 30 June 2026. Direct listed equities are Berkshire Hathaway, NobleOak Life and Flagship Investments. A sector breakdown is not shown because the managed funds do not publish look-through holdings.
