Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (43 quarters reported)
$241M in Q4 2015 → $2.6B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| YC Yum China Hldgs Inc | 17.1% | Trimmed 4.7% | 10,835,362 | $443M |
| S&P Global Inc | 12.3% | Trimmed 11% | 786,540 | $320M |
| Otis Worldwide Corp | 10.7% | Trimmed 11% | 3,885,445 | $278M |
| Autozone Inc | 10.0% | Trimmed 7.2% | 81,351 | $260M |
| AD Automatic Data Processing In | 9.9% | Trimmed 3.0% | 1,143,474 | $256M |
| Mastercard Incorporated | 9.6% | Added 8.0% | 484,457 | $249M |
| M Moodys Corp | 8.1% | Trimmed 10% | 464,583 | $210M |
| Visa Inc | 6.9% | Trimmed 11% | 522,552 | $179M |
| GA Gallagher Arthur J & Co | 5.8% | Added 2.0% | 659,908 | $151M |
| Zoetis Inc | 5.1% | Trimmed 6.4% | 1,830,488 | $132M |
| Salesforce Inc | 4.5% | Added 3.6% | 746,835 | $117M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| S&P Global Inc | Trimmed | −94,100 | −$38.3M | 12.3% |
| Otis Worldwide Corp | Trimmed | −502,600 | −$36M | 10.7% |
| M Moodys Corp | Trimmed | −53,600 | −$24.3M | 8.1% |
| Visa Inc | Trimmed | −67,650 | −$23.2M | 6.9% |
| YC Yum China Hldgs Inc | Trimmed | −536,231 | −$21.9M | 17.1% |
| Autozone Inc | Trimmed | −6,304 | −$20.1M | 10.0% |
| Mastercard Incorporated | Added | +35,795 | +$18.4M | 9.6% |
| Zoetis Inc | Trimmed | −125,200 | −$9M | 5.1% |
| AD Automatic Data Processing In | Trimmed | −34,873 | −$7.81M | 9.9% |
| Salesforce Inc | Added | +26,150 | +$4.1M | 4.5% |
Showing the 10 largest of 11 changes.
quarter ended March 31, 2026 · filed May 01, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| HW Hilton Worldwide Hldgs Inc | Exited | −1,021,203 | −$293M | — |
| S&P Global Inc | Added | +546,465 | +$232M | 12.8% |
| GA Gallagher Arthur J & Co | New | +647,008 | +$140M | 4.8% |
| M Moodys Corp | Added | +248,134 | +$108M | 7.7% |
| YC Yum China Hldgs Inc | Trimmed | −994,898 | −$48.5M | 18.9% |
| Autozone Inc | Added | +14,276 | +$48.2M | 10.1% |
| Visa Inc | Added | +131,413 | +$39.7M | 6.1% |
| Salesforce Inc | Added | +182,375 | +$34M | 4.6% |
| Otis Worldwide Corp | Trimmed | −290,493 | −$22.4M | 11.5% |
| EI Expeditors Intl Wash Inc | Exited | −139,103 | −$20.7M | — |
Showing the 10 largest of 13 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EI Expeditors Intl Wash Inc | Trimmed | −1,199,551 | −$179M | 0.7% |
| Salesforce Inc | New | +538,310 | +$143M | 4.8% |
| Zoetis Inc | Added | +509,557 | +$64.1M | 8.4% |
| Autozone Inc | Added | +16,255 | +$55.1M | 8.4% |
| YC Yum China Hldgs Inc | Trimmed | −802,040 | −$38.3M | 20.0% |
| HW Hilton Worldwide Hldgs Inc | Trimmed | −85,950 | −$24.7M | 9.9% |
| Otis Worldwide Corp | Added | +225,913 | +$19.7M | 13.9% |
| Mastercard Incorporated | Trimmed | −34,350 | −$19.6M | 8.1% |
| Visa Inc | Added | +48,650 | +$17.1M | 5.5% |
| M Moodys Corp | Trimmed | −21,400 | −$10.9M | 4.7% |
Showing the 10 largest of 12 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Otis Worldwide Corp | Added | +789,609 | +$72.2M | 14.0% |
| Autozone Inc | Trimmed | −12,522 | −$53.7M | 8.4% |
| YC Yum China Hldgs Inc | Trimmed | −1,114,625 | −$47.8M | 19.4% |
| M Moodys Corp | Trimmed | −86,187 | −$41.1M | 4.8% |
| AD Automatic Data Processing In | Trimmed | −65,418 | −$19.2M | 11.2% |
| Zoetis Inc | Added | +127,020 | +$18.6M | 7.4% |
| HW Hilton Worldwide Hldgs Inc | Trimmed | −64,917 | −$16.8M | 9.9% |
| Mastercard Incorporated | Trimmed | −25,801 | −$14.7M | 8.8% |
| S&P Global Inc | Trimmed | −20,281 | −$9.87M | 5.5% |
| EI Expeditors Intl Wash Inc | Trimmed | −76,955 | −$9.43M | 5.6% |
Showing the 10 largest of 11 changes.
quarter ended June 30, 2025 · filed August 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EI Expeditors Intl Wash Inc | New | +1,415,609 | +$162M | 5.2% |
| Autozone Inc | Trimmed | −17,663 | −$65.6M | 8.3% |
| HW Hilton Worldwide Hldgs Inc | Added | +245,200 | +$65.3M | 10.1% |
| YC Yum China Hldgs Inc | Added | +1,351,353 | +$60.4M | 20.6% |
| Zoetis Inc | Added | +309,050 | +$48.2M | 6.7% |
| M Moodys Corp | Added | +71,804 | +$36M | 6.1% |
| Otis Worldwide Corp | Trimmed | −255,664 | −$25.3M | 11.7% |
| AD Automatic Data Processing In | Trimmed | −25,350 | −$7.82M | 11.7% |
| Mastercard Incorporated | Trimmed | −9,550 | −$5.37M | 8.6% |
| S&P Global Inc | Trimmed | −8,100 | −$4.27M | 5.9% |
Showing the 10 largest of 11 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nike Inc | Exited | −3,439,525 | −$260M | — |
| Zoetis Inc | New | +1,030,989 | +$170M | 5.8% |
| Verisign Inc | Exited | −814,098 | −$168M | — |
| Visa Inc | Trimmed | −317,050 | −$111M | 5.4% |
| AD Automatic Data Processing In | Trimmed | −306,440 | −$93.6M | 12.7% |
| HW Hilton Worldwide Hldgs Inc | Added | +238,296 | +$54.2M | 7.3% |
| M Moodys Corp | Trimmed | −97,455 | −$45.4M | 4.9% |
| S&P Global Inc | Trimmed | −84,130 | −$42.7M | 6.3% |
| Otis Worldwide Corp | Trimmed | −280,108 | −$28.9M | 13.9% |
| Mastercard Incorporated | Trimmed | −18,750 | −$10.3M | 9.2% |
Showing the 10 largest of 12 changes.
quarter ended December 31, 2024 · filed February 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Starbucks | Exited | −1,017,501 | −$99.2M | — |
| AD Automatic Data Processing In | Trimmed | −227,221 | −$66.5M | 13.5% |
| Otis Worldwide Corp | Trimmed | −353,739 | −$32.8M | 11.9% |
| YC Yum China Hldgs Inc | Trimmed | −397,263 | −$19.1M | 19.3% |
| Verisign Inc | Added | +60,493 | +$12.5M | 5.2% |
| Autozone Inc | Trimmed | −3,030 | −$9.7M | 8.7% |
| Mastercard Incorporated | Trimmed | −14,935 | −$7.86M | 8.2% |
| Visa Inc | Trimmed | −22,250 | −$7.03M | 7.4% |
| M Moodys Corp | Trimmed | −13,250 | −$6.27M | 5.9% |
| S&P Global Inc | Trimmed | −9,250 | −$4.61M | 6.7% |
Showing the 10 largest of 12 changes.
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Coca-cola | Exited | −4,140,516 | −$264M | — |
| Starbucks | Trimmed | −2,472,020 | −$241M | 2.9% |
| YC Yum China | Added | +3,001,814 | +$135M | 17.5% |
| Automatic Data Processing | Trimmed | −350,172 | −$96.9M | 13.9% |
| Verisign | Added | +498,055 | +$94.6M | 4.1% |
| H Hilton | Added | +304,974 | +$70.3M | 4.7% |
| Nike | Trimmed | −277,747 | −$24.6M | 8.7% |
| Moody's | Trimmed | −42,610 | −$20.2M | 5.7% |
| Otis Worldwide | Trimmed | −132,400 | −$13.8M | 13.7% |
| Autozone | Trimmed | −2,685 | −$8.46M | 8.4% |
Showing the 10 largest of 13 changes.
Loading...
