CIK 1541448
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Insurance | 20.09% | 3 |
| Software | 15.27% | 2 |
| Specialty Retail | 9.24% | 1 |
| Road & Rail | 9.13% | 1 |
| Commercial Services & Supplies | 9.02% | 2 |
| Technology Hardware & Equipment | 7.04% | 1 |
| Life Sciences Tools & Services | 6.06% | 1 |
| Capital Markets | 5.72% | 1 |
| Health Care Equipment & Supplies | 5.63% | 2 |
| Media & Entertainment | 4.07% | 1 |
| Hotels, Restaurants & Leisure | 3.25% | 1 |
| Aerospace & Defense | 2.63% | 1 |
| Pharmaceuticals & Biotechnology | 2.51% | 1 |
| Tobacco | 0.19% | 1 |
| Distributors | 0.12% | 1 |
| Semiconductors & Semiconductor Equipment | 0.02% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | AMZN | AMAZON COM INC | Consumer Discretionary | 9.24% |
| 2 | CP | CANADIAN PACIFIC KANSAS CITY LTD/CN | Industrials | 9.13% |
| 3 | MA | Mastercard Inc | Financials | 9.00% |
| 4 | UNH | UNITEDHEALTH GROUP INC | Financials | 8.63% |
| 5 | AON | Aon plc | Financials | 8.31% |
| 6 | MSFT | MICROSOFT CORP | Information Technology | 8.14% |
| 7 | CRM | Salesforce, Inc. | Information Technology | 7.13% |
| 8 | TMO | THERMO FISHER SCIENTIFIC INC. | Information Technology | 7.04% |
| 9 | WAT | WATERS CORP /DE/ | Health Care | 6.06% |
| 10 | ICE | Intercontinental Exchange, Inc. | Financials | 5.72% |
21/21 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 100.0%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 100.0% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 90.8% of book weight (18/21 names) · unclassified 9.2%: CP, TSM, PDD. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | AMZNAMAZON COM INC | 2,619,324 | $546M | 9.2% | TRIM −40% |
| 2 | CPCANADIAN PACIFIC KANSAS CITY | 6,854,361 | $539M | 9.1% | TRIM −27% |
| 3 | MAMASTERCARD INCORPORATED | 1,063,314 | $531M | 9.0% | ADD 35% |
| 4 | UNHUNITEDHEALTH GROUP INC | 1,882,071 | $509M | 8.6% | TRIM −26% |
| 5 | AONAON PLC | 1,520,277 | $491M | 8.3% | TRIM −24% |
| 6 | MSFTMICROSOFT CORP | 1,298,635 | $481M | 8.1% | TRIM −38% |
| 7 | CRMSALESFORCE INC | 2,253,886 | $421M | 7.1% | TRIM −24% |
| 8 | TMOTHERMO FISHER SCIENTIFIC INC | 845,995 | $416M | 7.0% | TRIM −25% |
| 9 | WATWATERS CORP | 1,200,813 | $358M | 6.1% | TRIM −3% |
| 10 | ICEINTERCONTINENTAL EXCHANGE IN | 2,147,051 | $338M | 5.7% | TRIM −25% |
| 11 | BDXBECTON DICKINSON & CO | 2,022,830 | $318M | 5.4% | TRIM −30% |
| 12 | CHTRCHARTER COMMUNICATIONS INC | 1,113,053 | $240M | 4.1% | TRIM −27% |
| 13 | HHYATT HOTELS CORP | 1,336,247 | $192M | 3.3% | TRIM −30% |
| 14 | ELVELEVANCE HEALTH INC FORMERLY | 635,371 | $186M | 3.2% | TRIM −27% |
| 15 | TDGTRANSDIGM GROUP INC | 133,974 | $155M | 2.6% | TRIM −6% |
| 16 | ZTSZOETIS INC | 1,252,898 | $148M | 2.5% | TRIM −29% |
| 17 | MDTMEDTRONIC PLC | 162,708 | $14M | 0.2% | TRIM −10% |
| 18 | PMPHILIP MORRIS INTL INC | 67,036 | $11M | 0.2% | HOLD |
| 19 | MSMMSC INDL DIRECT INC | 75,386 | $7M | 0.1% | TRIM −20% |
| 20 | TSMTAIWAN SEMICONDUCTOR MFG LTD | 4,342 | $1M | 0.0% | TRIM −20% |
| 21 | PDDPDD HOLDINGS INC | 10,020 | $1M | 0.0% | TRIM −55% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| AMZNAMAZON COM INC | 5.3M | 5.0M | 4.8M | 4.6M | 4.4M | 2.6M | $546M |
| CPCANADIAN PACIFIC KANSAS CITY | 11.2M | 10.6M | 10.0M | 9.7M | 9.3M | 6.9M | $539M |
| MAMASTERCARD INCORPORATED | 868K | 737K | 695K | 664K | 788K | 1.1M | $531M |
| UNHUNITEDHEALTH GROUP INC | 1.5M | 1.6M | 3.1M | 2.7M | 2.5M | 1.9M | $509M |
| AONAON PLC | 2.2M | 1.8M | 1.7M | 2.1M | 2.0M | 1.5M | $491M |
| MSFTMICROSOFT CORP | 2.0M | 2.9M | 3.0M | 2.2M | 2.1M | 1.3M | $481M |
| CRMSALESFORCE INC | 2.4M | 2.1M | 2.1M | 3.0M | 3.0M | 2.3M | $421M |
| TMOTHERMO FISHER SCIENTIFIC INC | 1.0M | 1.3M | 1.3M | 1.2M | 1.1M | 846K | $416M |
| WATWATERS CORP | — | — | — | 585K | 1.2M | 1.2M | $358M |
| ICEINTERCONTINENTAL EXCHANGE IN | 3.8M | 2.9M | 2.2M | 2.1M | 2.9M | 2.1M | $338M |
| BDXBECTON DICKINSON & CO | 2.1M | 1.9M | 2.1M | 3.0M | 2.9M | 2.0M | $318M |
| CHTRCHARTER COMMUNICATIONS INC | 1.8M | 1.7M | 1.6M | 1.5M | 1.5M | 1.1M | $240M |
| HHYATT HOTELS CORP | — | — | — | 205K | 1.9M | 1.3M | $192M |
| ELVELEVANCE HEALTH INC FORMERLY | 987K | 953K | 913K | 903K | 874K | 635K | $186M |
| TDGTRANSDIGM GROUP INC | — | — | — | — | 142K | 134K | $155M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Where this firm's principals came from and which firms its alumni went on to found.
