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 $58,279,744.
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 $58,279,744.
- 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
GFL holds units in the ECP Global Growth Fund, an Ireland-domiciled ICAV fund managed by EC Pohl & Co. The fund invests in globally listed quality growth companies. Below are the 10 largest underlying holdings within this fund at 30 June 2026.
Block Inc
Fund weight6.7%
FinancialsNYSE
Payments and financial services, operating Square and Cash App.
Megaport Ltd
Fund weight6.5%
Information TechnologyASX
Network-as-a-service provider connecting businesses to cloud platforms.
AppLovin Corp
Fund weight6.0%
Information TechnologyNasdaq
Software platform for mobile app marketing and monetisation.
Raspberry Pi Holdings PLC
Fund weight4.4%
Information TechnologyLondon Stock Exchange
Low-cost single-board computers and embedded compute modules.
Fair Isaac Corp
Fund weight4.4%
Information TechnologyNYSE
Credit scoring and decision analytics, best known for the FICO score.
Sartorius Stedim Biotech
Fund weight4.4%
HealthEuronext Paris
Supplier of single-use equipment and consumables for biopharmaceutical manufacturing.
Hemnet Group AB
Fund weight4.1%
Communication ServicesNasdaq Stockholm
Sweden’s largest residential property listings marketplace.
Taiwan Semiconductor
Fund weight4.0%
Information TechnologyNYSE
Contract manufacturer of advanced semiconductors for global chip designers.
Alphabet Inc
Fund weight3.6%
Communication ServicesNasdaq
Technology group operating Google Search, YouTube and Google Cloud.
Adyen NV
Fund weight3.6%
FinancialsEuronext Amsterdam
Single-platform payments processor for global merchants.
| Holding | Sector | Exchange | Fund weight |
|---|---|---|---|
| Block Inc | Financials | NYSE | 6.7% |
| Megaport Ltd | Information Technology | ASX | 6.5% |
| AppLovin Corp | Information Technology | Nasdaq | 6.0% |
| Raspberry Pi Holdings PLC | Information Technology | London Stock Exchange | 4.4% |
| Fair Isaac Corp | Information Technology | NYSE | 4.4% |
| Sartorius Stedim Biotech | Health | Euronext Paris | 4.4% |
| Hemnet Group AB | Communication Services | Nasdaq Stockholm | 4.1% |
| Taiwan Semiconductor | Information Technology | NYSE | 4.0% |
| Alphabet Inc | Communication Services | Nasdaq | 3.6% |
| Adyen NV | Financials | Euronext Amsterdam | 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, 30 June 2026. The ten largest holdings only.
- 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.
