Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (39 quarters reported)
$110M in Q4 2016 → $3.12B 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 |
|---|---|---|---|---|
| Fair Isaac Corp | 25.8% | Trimmed 13% | 672,186 | $803M |
| S&P Global Inc | 19.9% | Trimmed 13% | 1,524,036 | $621M |
| M Moodys Corp | 19.1% | Unchanged | 1,317,188 | $597M |
| Mastercard Incorporated | 17.6% | Trimmed 28% | 1,065,934 | $547M |
| AH Asml Hldg Nv | 10.9% | Unchanged | 171,083 | $340M |
| Visa Inc | 5.1% | Trimmed 23% | 462,978 | $159M |
| Intuit | 1.6% | Unchanged | 189,072 | $49.3M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mastercard Incorporated | Trimmed | −421,562 | −$217M | 17.6% |
| Fair Isaac Corp | Trimmed | −97,156 | −$116M | 25.8% |
| S&P Global Inc | Trimmed | −234,038 | −$95.3M | 19.9% |
| Visa Inc | Trimmed | −135,775 | −$46.6M | 5.1% |
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Visa Inc | Trimmed | −317,657 | −$96M | 5.4% |
| AH Asml Holding N V | Added | +44,841 | +$59.2M | 6.7% |
| Msci Inc | Exited | −60,770 | −$34.9M | — |
| Equifax Inc | Exited | −146,352 | −$31.8M | — |
| Intuit | Trimmed | −32,164 | −$13.9M | 2.4% |
| Fair Isaac Corp | Trimmed | −82 | −$87.5K | 24.3% |
| M Moodys Corp | Trimmed | −104 | −$45.4K | 17.0% |
| S&P Global Inc | Trimmed | −105 | −$44.7K | 22.2% |
| Mastercard Incorporated | Added | +87 | +$43.5K | 22.0% |
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Intuit | Trimmed | −39,861 | −$26.4M | 3.3% |
| Fair Isaac Corp | Added | +1,002 | +$1.69M | 29.5% |
| S&P Global Inc | Added | +3,081 | +$1.61M | 20.8% |
| M Moodys Corp | Added | +3,148 | +$1.61M | 15.3% |
| Visa Inc | Added | +4,393 | +$1.54M | 7.3% |
| Mastercard Incorporated | Added | +2,637 | +$1.51M | 19.2% |
| AH Asml Holding N V | Added | +615 | +$658K | 3.1% |
| Msci Inc | Added | +1,070 | +$614K | 0.8% |
| Equifax Inc | Added | +2,352 | +$510K | 0.7% |
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Intuit | Trimmed | −2,215 | −$1.51M | 4.3% |
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Intuit | Trimmed | −34,048 | −$26.8M | 4.6% |
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Intuit | Trimmed | −104,921 | −$64.4M | 4.2% |
| Fair Isaac Corp | Trimmed | −15,700 | −$29M | 32.3% |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AT Aspen Technology Inc | Exited | −295,485 | −$70.6M | — |
| Fair Isaac Corp | Trimmed | −24,671 | −$49.1M | 34.4% |
| Equifax Inc | New | +144,000 | +$36.7M | 0.8% |
| Msci Inc | New | +59,700 | +$35.8M | 0.8% |
| Intuit | Trimmed | −42,600 | −$26.8M | 5.6% |
| S&P Global Inc | Added | +49,200 | +$24.5M | 19.3% |
| M Moodys Corp | Added | +25,700 | +$12.2M | 13.7% |
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Fair Isaac Corp | Trimmed | −68,955 | −$134M | 34.9% |
| AH Asml Holding N V | Added | +62,724 | +$52.3M | 2.3% |
| M Moodys Corp | Added | +70,034 | +$33.2M | 13.6% |
| S&P Global Inc | Added | +50,337 | +$26M | 19.6% |
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