Perpetual Ltd

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 24, 2025), Perpetual Ltd reported 411 stock positions worth $8.3 billion. Its top holding was MercadoLibre (MELI) at 3.2% of the portfolio, followed by Sea Ltd.-ADR (SE, 3.2%) and Intercontinental Exchange (ICE, 3.1%). Compared with Q4 2024, it opened 37 new positions, sold out of 35, added to 122 and reduced 179. The biggest buy was Cme (CME, shares +2215%) and the biggest sale an exit from Ryanair Holdings PLC-SP ADR (RYAAY).

Most Recent 13F
Q2 2026
Location
SYDNEY, NEW SOUTH WALES, C3
CIK
0001647273
Portfolio Value
$8.3B (Q1 2025)
SEC Filing
0001104659-25-038201 ↗ filed Apr 24, 2025

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $10.2B Q1 2024 Q2 2024: $9.2B Q2 2024 Q3 2024: $9.2B Q3 2024 Q4 2024: $8.5B Q4 2024 Q1 2025: $8.3B $8.3B Q1 2025 Q2 2025: $8.5B Q2 2025 Q3 2025: $8.1B Q3 2025 Q4 2025: $6.9B Q4 2025 Q1 2026: $6.5B Q1 2026 Q2 2026: $7.0B Q2 2026

Holdings 411 stocks · $8.3B

MELI MercadoLibre Inc. 3.22% 136,638 $266.6M Reduce -9.0%
SE Sea Ltd.-ADR 3.20% 2,029,519 $264.8M Reduce -3.3%
ICE Intercontinental Exchange Inc. 3.10% 1,488,353 $256.7M Reduce -2.6%
FLUT Flutter Entertainment PLC-Di 3.00% 1,120,521 $248.3M Reduce -7.9%
ATO Atmos Energy Corp. 2.71% 1,454,090 $224.8M Add +17.2%
CRH CRH PLC 2.48% 2,336,426 $205.5M Reduce -0.0%
PM Philip Morris International 2.46% 1,281,005 $203.3M Reduce -15.5%
SPOT Spotify Technology SA 2.38% 358,493 $197.2M Reduce -29.7%
GRAB Grab Holdings Ltd. Class A 2.37% 43,385,924 $196.5M Reduce -3.9%
SRE Sempra 2.22% 2,579,380 $184.1M Add +3.9%
ORCL Oracle Corp. 2.17% 1,286,415 $179.9M Add +46.9%
UNH Unitedhealth Group Inc. 1.96% 309,987 $162.4M Reduce -3.7%
CMS CMS Energy Corp. 1.96% 2,155,984 $161.9M Add +4.0%
MSFT Microsoft Corp. 1.94% 428,353 $160.8M Reduce -34.7%
AER Aercap Holdings NV 1.81% 1,465,994 $149.8M Reduce -9.8%
TMO Thermo Fisher Scientific Inc. 1.67% 277,938 $138.3M Add +20.9%
EMR Emerson Electric Co. 1.56% 1,180,255 $129.4M Add +4.1%
GXO Gxo Logistics Inc. 1.43% 3,034,483 $118.6M Reduce -3.5%
JAZZ Jazz Pharmaceuticals PLC 1.43% 952,172 $118.2M Add +60.2%
CHKP Check Point Software Tech 1.40% 509,970 $116.2M Reduce -5.0%
CDW CDW Corp. 1.38% 710,462 $113.9M Reduce -11.4%
FCX Freeport-McMoran Inc. 1.35% 2,947,227 $111.6M Add +71.7%
CNH CNH Industrial NV 1.33% 8,994,945 $110.5M Reduce -8.3%
GEHC GE Healthcare Technology 1.32% 1,354,596 $109.3M Add +3.9%
NVDA Nvidia Corp. 1.25% 957,318 $103.8M Reduce -12.5%
LIN Linde PLC 1.16% 205,853 $95.9M Reduce -0.9%
FMX Fomento Economico Mex-SP ADR 1.15% 977,342 $95.4M Add +5.7%
PGR Progressive Corp. 1.10% 320,647 $90.7M Reduce -7.5%
GOOGL Alphabet Inc. Class A 1.02% 546,427 $84.5M Reduce -2.6%
ITUB Itau Unibanco H-Spon PRF ADR 1.00% 15,031,037 $82.7M Add +9.9%
AMZN Amazon.com Inc. 0.97% 423,803 $80.6M Reduce -4.4%
CSX CSX Corp. 0.95% 2,685,478 $79.0M Add +4.0%
SPGI S&P Global Inc. 0.91% 149,014 $75.7M Reduce -6.2%
CME Cme Group Inc. 0.89% 277,434 $73.6M Add +2214.8%
HDB HDFC Bank Ltd.-ADR 0.87% 1,086,607 $72.2M Reduce -4.8%
ADMA Adma Biologics Inc. 0.85% 3,551,813 $70.5M Reduce -2.2%
ARGX Argenx SE - ADR 0.82% 114,530 $67.8M Reduce -5.3%
CBOE Cboe Global Markets Inc. 0.81% 295,998 $67.0M New
NFLX Netflix Inc. 0.80% 70,694 $65.9M Add +3406.7%
SNEX Stonex Group Inc. 0.78% 846,804 $64.7M New
B Barrick Gold Corp. 0.77% 3,273,898 $63.6M Reduce -7.7%
AVGO Broadcom Inc. 0.77% 379,736 $63.6M Reduce -4.9%
QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC 0.76% 787,636 $63.0M Add +4.7%
TOST Toast Inc. Class A 0.76% 1,890,264 $62.7M Add +13.2%
ARES Ares Management Corp. Class A 0.74% 417,720 $61.2M Reduce -5.1%
NTNX Nutanix Inc. Class A 0.74% 875,946 $61.1M Add +10205.3%
MRK Merck & Co. Inc. 0.72% 662,014 $59.4M Add +13.1%
ISRG Intuitive Surgical Inc. 0.72% 119,922 $59.4M New
FOUR SHIFT4 Payments Inc. Class A 0.69% 695,912 $56.9M New
PRGO Perrigo Co. PLC 0.65% 1,914,953 $53.7M Reduce -20.3%
CX Cemex Sab-Spons ADR Part Cer 0.63% 9,296,899 $52.2M Reduce -0.9%
WPM Wheaton Precious Metals Corp. 0.61% 649,623 $50.4M New
PBR Petroleo Brasileiro-Spon ADR 0.56% 3,213,257 $46.1M Reduce -3.1%
TSM Taiwan Semiconductor-SP ADR 0.55% 275,409 $45.7M Reduce -22.3%
FERG Ferguson Enterprises Inc. 0.52% 268,897 $43.1M Add +462.2%
ETR Entergy Corp. 0.51% 492,130 $42.1M Reduce -1.0%
ELV Elevance Health Inc. 0.51% 96,634 $42.0M Add +9383.2%
PSA Public Storage 0.48% 133,118 $39.8M Add +33.8%
PLD Prologis Inc. 0.48% 353,835 $39.6M Add +22.5%
SBAC SBA Communications Corp. 0.47% 177,560 $39.1M Add +37.8%
NICE Nice Ltd. - Spon ADR 0.47% 249,900 $38.5M Add +33.5%
PNW Pinnacle West Capital 0.46% 398,455 $38.0M Reduce -1.0%
EG Everest Group Ltd. 0.46% 104,366 $37.9M New
AIG American International Group 0.46% 435,524 $37.9M Reduce -1.1%
IBN Icici Bank Ltd.-Spon ADR 0.45% 1,183,651 $37.3M Reduce -3.1%
NEM Newmont Corp. 0.43% 744,767 $36.0M Reduce -1.0%
WTW Willis Towers Watson PLC 0.43% 105,279 $35.6M Reduce -6.1%
CLVT Clarivate PLC 0.42% 8,838,952 $34.7M Reduce -3.9%
APD Air Products & Chemicals Inc. 0.41% 115,172 $34.0M Reduce -0.9%
QCOM Qualcomm Inc. 0.41% 219,181 $33.7M Reduce -2.3%
FIS Fidelity National Info Serv 0.41% 449,622 $33.6M Reduce -1.7%
CCL Carnival Corp. 0.38% 1,630,097 $31.8M Reduce -1.0%
MAA Mid-America Apartment Comm 0.37% 180,376 $30.2M Add +41.5%
MCHP Microchip Technology Inc. 0.36% 618,770 $30.0M Add +99.2%
KDP Keurig Dr Pepper Inc. 0.36% 863,176 $29.5M Reduce -1.5%
HES Hess Corp. 0.34% 178,387 $28.5M Reduce -1.1%
AVTR Avantor Inc. 0.34% 1,744,674 $28.3M Reduce -1.3%
APTV Aptiv PLC 0.32% 452,038 $26.9M Reduce -1.0%
PR Permian Resources Corp. Class A 0.31% 1,859,111 $25.7M Reduce -1.4%
YMM Full Truck Alliance -SPN ADR 0.30% 1,961,428 $25.0M Add +9.8%
ENTG Entegris Inc. 0.28% 263,831 $23.1M New
JD Jd.com Inc.-ADR 0.28% 559,256 $23.0M Reduce -1.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.28% 549,015 $22.9M Add +238.4%
AXTA Axalta Coating Systems Ltd. 0.27% 672,189 $22.3M Reduce -1.0%
PHG Koninklijke Philips NVR- NY 0.26% 850,748 $21.6M Reduce -22.7%
INFY Infosys Ltd.-SP ADR 0.26% 1,176,543 $21.5M Add +72.6%
TME Tencent Music Entertainm-ADR 0.26% 1,482,511 $21.4M Reduce -3.0%
HAL Halliburton Co. 0.26% 833,913 $21.2M Reduce -0.7%
JCI Johnson Controls Internation 0.24% 249,030 $19.9M Reduce -1.5%
WMG Warner Music Group Corp. Class A 0.24% 627,109 $19.7M Reduce -0.8%
ECL Ecolab Inc. 0.23% 74,558 $18.9M Reduce -9.6%
SLM SLM Corp. 0.23% 641,554 $18.8M Add +172.7%
AWK American Water Works Co. Inc. 0.23% 126,926 $18.7M Add +21.9%
XYL Xylem Inc. 0.22% 153,614 $18.4M Reduce -4.4%
CTSH Cognizant Tech Solutions-A 0.21% 230,531 $17.6M Reduce -3.3%
FTV Fortive Corp. 0.21% 239,735 $17.5M Add +60.0%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.20% 1,654,481 $16.9M Reduce -74.8%
SHOP Shopify Inc. Class A 0.20% 173,029 $16.5M Reduce -3.1%
RSG Republic Services Inc. 0.19% 65,621 $15.9M Reduce -1.0%
WM Waste Management Inc. 0.19% 68,338 $15.8M Add +3.7%
VRT Vertiv Holdings Co. Class A 0.19% 212,306 $15.3M Add +1955.2%
WCN Waste Connections Inc. 0.18% 78,499 $15.3M Add +12.3%
AAPL Apple Inc. 0.18% 67,095 $14.9M Reduce -14.0%
LEN Lennar Corp. Class A 0.18% 129,815 $14.9M New
WTM White Mountains Insurance GP 0.18% 7,727 $14.9M Reduce -19.7%
DAR Darling Ingredients Inc. 0.18% 472,645 $14.8M Reduce -1.0%
LNWO Light & Wonder Inc. 0.18% 168,427 $14.6M Reduce -35.2%
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.17% 790,709 $14.1M Add +12.3%
CIEN Ciena Corp. 0.17% 231,486 $14.0M Reduce -34.8%
ARCO Arcos Dorados Holdings Inc. Class A 0.16% 1,678,014 $13.5M Reduce -5.0%
PNR Pentair PLC 0.16% 150,797 $13.2M Add +12.3%
SCI Service Corp. International 0.16% 162,809 $13.1M Add +23.0%
BUD Anheuser-Busch Inbev-SPN ADR 0.16% 210,232 $12.9M Add +21.4%
MLI Mueller Industries Inc. 0.15% 163,804 $12.5M Add +15.1%
STE Steris PLC 0.15% 54,958 $12.5M Add +21.4%
PAAS Pan American Silver Corp. 0.15% 481,755 $12.4M Add +24.9%
LKQ LKQ Corp. 0.15% 290,038 $12.3M Add +40.6%
WTS Watts Water Technologies-A 0.14% 58,817 $12.0M Add +12.3%
AWR American States Water Co. filed as AMER STATES WTR CO 0.14% 152,187 $12.0M Add +41.8%
CLH Clean Harbors Inc. 0.14% 60,714 $12.0M Add +28.7%
CCK Crown Holdings Inc. 0.14% 133,515 $11.9M Add +22.1%
VLTO Veralto Corp. 0.14% 118,229 $11.5M Add +12.3%
CPRT Copart Inc. 0.14% 203,063 $11.5M Add +12.3%
BMI Badger Meter Inc. 0.14% 59,103 $11.2M Add +19.8%
WMS Advanced Drainage Systems Inc. 0.13% 102,330 $11.1M Add +28.1%
CNM Core & Main Inc. Class A 0.13% 223,671 $10.8M Add +12.4%
META Meta Platforms Inc. Class A 0.13% 18,017 $10.4M Reduce -3.8%
NOMD Nomad Foods Ltd. 0.12% 505,605 $9.9M Reduce -29.5%
RDUS Radius Recycling Inc. Class A 0.12% 342,466 $9.9M Add +159.6%
MWA Mueller Water Products Inc. Class A 0.12% 384,369 $9.8M Add +24.5%
GLNG Golar LNG Ltd. 0.11% 249,142 $9.5M Add +2.2%
ZWS Zurn Elkay Water Solutions C 0.11% 264,396 $8.7M Add +23.4%
TTEK Tetra Tech Inc. 0.10% 296,938 $8.7M Add +38.1%
BPOP Popular Inc. 0.10% 85,809 $7.9M Reduce -17.6%
ACGL Arch Capital Group Ltd. 0.09% 75,738 $7.3M Reduce -12.0%
EMBJ Embraer SA-Spon ADR 0.09% 152,511 $7.0M Reduce -32.0%
ABEV Ambev SA-ADR 0.08% 2,981,068 $6.9M Reduce -4.9%
AOS Smith (a.o.) Corp. 0.08% 105,023 $6.9M Reduce -11.5%
JNJ Johnson & Johnson 0.08% 41,288 $6.8M Add +27.2%
HLF Herbalife Ltd. 0.08% 748,663 $6.5M Reduce -22.5%
VRSK Verisk Analytics Inc. 0.07% 20,275 $6.0M Reduce -4.9%
XOM Exxon Mobil Corp. 0.07% 47,179 $5.6M Reduce -8.0%
HASI Ha Sustainable Infrastructur 0.07% 188,500 $5.5M Reduce -0.5%
ITRI Itron Inc. 0.06% 51,134 $5.4M Reduce -9.6%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.06% 121,761 $5.1M Add +22.0%
MASI Masimo Corp. 0.06% 30,209 $5.0M New
ANSS Ansys Inc. 0.06% 14,732 $4.7M Reduce -30.9%
MDT Medtronic PLC 0.05% 47,559 $4.3M Add +177.5%
ABBV Abbvie Inc. 0.05% 19,387 $4.1M Reduce -0.3%
VEEV Veeva Systems Inc. Class A 0.05% 17,510 $4.1M New
BKNG Booking Holdings Inc. 0.05% 865 $4.0M Add +29.9%
AZUL S A 0.05% 2,389,876 $3.9M Reduce -3.4%
MPWR Monolithic Power Systems Inc. 0.05% 6,532 $3.8M Add +122.5%
VZ Verizon Communications Inc. 0.04% 81,178 $3.7M No change
VRRM Verra Mobility Corp. 0.04% 163,443 $3.7M Reduce -40.1%
COP Conocophillips 0.04% 34,750 $3.6M Add +122.3%
T AT&T Inc. 0.04% 127,700 $3.6M No change
WELL Welltower Inc. 0.04% 23,554 $3.6M Reduce -2.7%
PFE Pfizer Inc. 0.04% 136,764 $3.5M Add +10.6%
O Realty Income Corp. 0.04% 57,488 $3.3M No change
CMCSA Comcast Corp. Class A 0.04% 86,931 $3.2M Reduce -93.7%
NOW ServiceNow Inc. 0.04% 3,895 $3.1M Add +8.9%
PODD Insulet Corp. 0.04% 11,795 $3.1M New
JPM JPMorgan Chase & Co. 0.04% 12,130 $3.0M Add +14.6%
MSA Msa Safety Inc. 0.04% 20,269 $3.0M Reduce -48.6%
TAL Tal Education Group- ADR 0.04% 221,634 $2.9M Add +70.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.03% 11,624 $2.9M Add +7.3%
CVX Chevron Corp. 0.03% 17,212 $2.9M No change
GE General Electric filed as GE AEROSPACE 0.03% 14,096 $2.8M Reduce -10.7%
A Agilent Technologies Inc. 0.03% 24,098 $2.8M Reduce -41.9%
AMT American Tower Corp. 0.03% 12,941 $2.8M Reduce -3.4%
EQIX Equinix Inc. 0.03% 3,450 $2.8M No change
PTC PTC Inc. 0.03% 17,677 $2.7M Reduce -95.8%
LRN Stride Inc. 0.03% 21,371 $2.7M New
CRM Salesforce Inc. 0.03% 10,022 $2.7M Add +26.5%
AFYA Afya Ltd. Class A 0.03% 148,450 $2.7M Reduce -26.6%
ANET Arista Networks Inc. 0.03% 34,225 $2.7M Add +367.8%
GOOG Alphabet Inc. Class C 0.03% 16,626 $2.6M Reduce -4.5%
NOC Northrop Grumman Corp. 0.03% 4,996 $2.6M Add +983.7%
WIT Wipro Ltd.-ADR 0.03% 820,300 $2.5M New
MA Mastercard Inc. Class A 0.03% 4,561 $2.5M Add +16.0%
TEAM Atlassian Corp. Class A 0.03% 11,680 $2.5M Add +56.3%
ACN Accenture PLC Class A 0.03% 7,838 $2.4M Add +0.7%
CSCO Cisco Systems Inc. 0.03% 38,037 $2.3M Reduce -1.8%
ADBE Adobe Inc. 0.03% 6,044 $2.3M Reduce -96.6%
WMT Walmart Inc. 0.03% 26,297 $2.3M No change
AVB Avalonbay Communities Inc. 0.03% 10,600 $2.3M Reduce -3.8%
PANW Palo Alto Networks Inc. 0.03% 12,949 $2.2M Reduce -18.7%
UL Unilever PLC 0.03% 36,909 $2.2M Reduce -10.6%
GEV GE Vernova Inc. 0.03% 7,079 $2.2M Add +72.6%
PG The Procter & Gamble Co. 0.03% 12,553 $2.1M No change
CNC Centene Corp. 0.03% 35,148 $2.1M Reduce -2.7%
OVV Ovintiv Inc. 0.03% 49,609 $2.1M Add +58.1%
RBLX Roblox Corp. Class A 0.03% 35,962 $2.1M Add +127.8%
DLR Digital Realty Trust Inc. 0.03% 14,560 $2.1M No change
PAGS Pagseguro Digital Ltd. Class A 0.03% 272,741 $2.1M Add +227.8%
ABNB Airbnb Inc. Class A 0.02% 17,236 $2.1M Add +25.4%
CB Chubb Ltd. 0.02% 6,795 $2.1M Reduce -1.3%
FTNT Fortinet Inc. 0.02% 21,226 $2.0M Reduce -9.1%
KO The Coca-Cola Co. 0.02% 28,438 $2.0M No change
UNP Union Pacific Corp. 0.02% 8,402 $2.0M Reduce -3.8%
HD Home Depot Inc. 0.02% 5,407 $2.0M Reduce -0.5%
PYPL PayPal Holdings Inc. 0.02% 30,157 $2.0M Reduce -96.8%
V Visa Inc. Class A 0.02% 5,604 $2.0M Reduce -11.4%
UPS United Parcel Service Class B 0.02% 17,657 $1.9M Add +69.6%
AUTL Autolus Therapeutics PLC 0.02% 1,223,743 $1.9M Reduce -4.4%
TIGO Millicom Intl Cellular S.A. 0.02% 62,450 $1.9M Reduce -1.6%
SPG Simon Property Group Inc. 0.02% 10,910 $1.8M Add +15.6%
BRK.B Berkshire Hathaway Inc. Class B 0.02% 3,344 $1.8M No change
PEP Pepsico Inc. 0.02% 11,877 $1.8M Reduce -22.7%
SNOW Snowflake Inc. 0.02% 12,026 $1.8M Add +213.3%
AZN Astrazeneca PLC-Spons ADR 0.02% 23,767 $1.7M Reduce -2.1%
BMY Bristol-Myers Squibb Co. 0.02% 28,541 $1.7M Add +10.2%
BKR Baker Hughes Co. 0.02% 38,323 $1.7M No change
GILD Gilead Sciences Inc. 0.02% 14,639 $1.6M Reduce -9.4%
MCK McKesson Corp. 0.02% 2,401 $1.6M Add +23.9%
GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 0.02% 60,307 $1.5M New
BNL Broadstone Net Lease Inc. 0.02% 88,319 $1.5M No change
PNC PNC Financial Services Group 0.02% 8,545 $1.5M Add +5.4%
ZM Zoom Communications Inc. 0.02% 19,863 $1.5M Reduce -23.0%
VALE Vale SA-SP ADR 0.02% 144,960 $1.4M No change
C Citigroup Inc. 0.02% 20,276 $1.4M Reduce -1.1%
CRBG Corebridge Financial Inc. 0.02% 44,225 $1.4M Add +343.5%
ETN Eaton Corp. PLC 0.02% 4,930 $1.3M Add +15.1%
MRVL Marvell Technology Inc. 0.02% 21,696 $1.3M Reduce -96.9%
ABT Abbott Laboratories 0.02% 9,900 $1.3M No change
EXPE Expedia Group Inc. 0.02% 7,732 $1.3M New
BAP Credicorp Ltd. 0.02% 6,874 $1.3M Reduce -7.6%
DAL Delta Air Lines Inc. 0.02% 29,078 $1.3M New
MKC McCormick & Co.-Non VTG SHRS 0.01% 14,585 $1.2M Reduce -4.0%
GM General Motors Co. 0.01% 25,025 $1.2M Add +22.3%
TTE Totalenergies SE -Spon ADR 0.01% 18,017 $1.2M Reduce -0.4%
LLY Eli Lilly & Co. 0.01% 1,400 $1.2M Reduce -98.5%
SHEL Shell PLC-ADR 0.01% 15,639 $1.1M Add +2.3%
BRX Brixmor Property Group Inc. 0.01% 43,060 $1.1M No change
BN Brookfield Corp. 0.01% 21,631 $1.1M Reduce -4.5%
MMM 3M Co. 0.01% 7,701 $1.1M Reduce -52.4%
MO Altria Group Inc. 0.01% 18,386 $1.1M Reduce -55.5%
TSLA Tesla Inc. 0.01% 4,230 $1.1M Reduce -24.2%
NKE Nike Inc. Class B 0.01% 16,536 $1.0M Add +18.7%
VLRS Controladora Vuela Cia-ADR 0.01% 199,118 $1.0M Reduce -39.5%
TGT Target Corp. 0.01% 9,889 $1.0M Add +92.1%
ALNY Alnylam Pharmaceuticals Inc. 0.01% 3,718 $1.0M Reduce -58.4%
PCAR Paccar Inc. 0.01% 10,262 $999K Add +5.1%
FN Fabrinet 0.01% 5,019 $991K Reduce -3.9%
BFAM Bright Horizons Family Solut 0.01% 7,709 $979K Add +27.4%
INTU Intuit Inc. 0.01% 1,572 $965K Reduce -5.8%
AZO AutoZone Inc. 0.01% 253 $965K No change
MAC The Macerich Co. 0.01% 55,356 $950K No change
EOG EOG Resources Inc. 0.01% 7,365 $944K No change
PINS Pinterest Inc. Class A 0.01% 30,287 $939K Reduce -31.2%
OKTA Okta Inc. 0.01% 8,874 $934K Reduce -30.3%
VTR Ventas Inc. 0.01% 13,540 $931K Reduce -9.8%
CDNS Cadence Design SYS Inc. 0.01% 3,644 $927K Add +3.5%
IRT Independence Realty Trust Inc. 0.01% 43,365 $921K No change
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.01% 10,570 $909K No change
LXP LXP Industrial Trust 0.01% 105,030 $909K No change
DVN Devon Energy Corp. 0.01% 24,126 $902K Add +48.3%
CVS CVS Health Corp. 0.01% 13,297 $901K Reduce -23.2%
SCHW Schwab (charles) Corp. 0.01% 11,449 $896K Add +108.5%
UBER Uber Technologies Inc. 0.01% 12,062 $879K Reduce -54.3%
MS Morgan Stanley 0.01% 7,284 $850K Reduce -3.5%
AMH American Homes 4 Rent- A 0.01% 22,182 $839K Reduce -10.4%
ILMN Illumina Inc. 0.01% 10,425 $827K New
WFC Wells Fargo & Co. 0.01% 11,515 $827K No change
ORLY O'reilly Automotive Inc. 0.01% 564 $808K Add +11.2%
HIW Highwoods Properties Inc. 0.01% 26,870 $796K No change
FISV Fiserv Inc. 0.01% 3,583 $791K Add +0.2%
TT Trane Technologies PLC 0.01% 2,332 $786K Add +276.7%
NEE Nextera Energy Inc. 0.01% 10,904 $773K No change
MDLZ Mondelez International Inc. Class A 0.01% 11,254 $764K Reduce -2.1%
GWRE Guidewire Software Inc. 0.01% 4,056 $760K Add +43.8%
FDX FedEx Corp. 0.01% 3,080 $751K No change
COST Costco Wholesale Corp. 0.01% 789 $746K Add +10.0%
CCI Crown Castle Inc. 0.01% 7,105 $741K No change
ALL Allstate Corp. 0.01% 3,562 $738K No change
ASML ASML Holding NV-NY Reg SHS 0.01% 1,111 $736K Add +1.1%
ADI Analog Devices Inc. 0.01% 3,619 $730K Reduce -15.1%
GPI Group 1 Automotive Inc. 0.01% 1,889 $722K Reduce -8.7%
KRG Kite Realty Group Trust 0.01% 32,140 $719K No change
PLTR Palantir Technologies Inc. Class A 0.01% 8,503 $718K Reduce -73.0%
AN Autonation Inc. 0.01% 4,427 $717K Add +20.1%
TMUS T-Mobile US Inc. 0.01% 2,622 $699K Reduce -64.5%
IT Gartner Inc. 0.01% 1,662 $698K Reduce -10.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.01% 5,623 $685K Reduce -16.5%
DASH DoorDash Inc. Class A 0.01% 3,731 $682K New
CMI Cummins Inc. 0.01% 2,130 $668K No change
DOCU Docusign Inc. 0.01% 8,154 $664K Add +147.2%
WAB Wabtec Corp. 0.01% 3,643 $661K Reduce -8.4%
LRCX Lam Research Corp. 0.01% 9,077 $660K Reduce -1.4%
FSS Federal Signal Corp. 0.01% 8,860 $652K No change
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.01% 19,700 $643K No change
SO The Southern Co. 0.01% 6,984 $642K No change
CI The Cigna Group 0.01% 1,948 $641K Reduce -26.7%
HUBS HubSpot Inc. 0.01% 1,121 $640K Reduce -7.3%
EXPD Expeditors Intl Wash Inc. 0.01% 5,304 $638K Add +21.8%
JBHT Hunt (jb) Transprt SVCS Inc. 0.01% 4,243 $628K Reduce -0.6%
AMAT Applied Materials Inc. 0.01% 4,285 $622K Add +11.8%
SNAP Snap Inc. Class A 0.01% 70,241 $612K Add +195.3%
LULU Lululemon Athletica Inc. 0.01% 2,132 $603K Reduce -12.0%
EQT Eqt Corp. 0.01% 11,287 $603K New
KVUE Kenvue Inc. 0.01% 24,985 $599K Reduce -0.7%
EPAM Epam Systems Inc. 0.01% 3,543 $598K Add +36.0%
JRVR James River Group Holdings I 0.01% 142,186 $597K Reduce -5.3%
TXN Texas Instruments Inc. 0.01% 3,296 $592K Reduce -12.8%
XPO Xpo Inc. 0.01% 5,477 $589K No change
APH Amphenol Corp. Class A 0.01% 8,878 $582K Reduce -32.4%
CTRE Caretrust REIT Inc. 0.01% 20,137 $576K Reduce -13.9%
ODFL Old Dominion Freight Line 0.01% 3,467 $574K Add +9.5%
HON Honeywell International Inc. 0.01% 2,680 $567K Reduce -21.7%
CL Colgate-Palmolive Co. 0.01% 6,022 $564K Reduce -14.1%
PECO Phillips Edison & Company Inc. 0.01% 15,460 $564K No change
VNO Vornado Realty Trust 0.01% 15,180 $562K No change
CAT Caterpillar Inc. 0.01% 1,700 $561K No change
SBUX Starbucks Corp. 0.01% 5,631 $552K Reduce -31.1%
CMG Chipotle Mexican Grill Inc. 0.01% 10,999 $552K Reduce -14.0%
ALV Autoliv Inc. 0.01% 6,221 $550K No change
GS Goldman Sachs Group Inc. 0.01% 1,000 $546K No change
DDOG Datadog Inc. Class A 0.01% 5,481 $544K Add +120.9%
BLK BlackRock Inc. 0.01% 545 $516K No change
ROAD Construction Partners Inc. Class A 0.01% 7,025 $505K Reduce -24.3%
CHRW C.H. Robinson Worldwide Inc. 0.01% 4,921 $504K Add +10.1%
AON Aon PLC Class A 0.01% 1,261 $503K Add +4.4%
LMT Lockheed Martin Corp. 0.01% 1,125 $503K No change
WAY Waystar Holding Corp. 0.01% 13,305 $497K Reduce -12.6%
OKE Oneok Inc. 0.01% 5,000 $496K No change
FSLR First Solar Inc. 0.01% 3,913 $495K Reduce -4.7%
RHP Ryman Hospitality Properties 0.01% 5,281 $483K No change
EWBC East West Bancorp Inc. 0.01% 5,235 $470K Reduce -3.5%
MOH Molina Healthcare Inc. 0.01% 1,426 $470K Reduce -41.2%
SYK Stryker Corp. 0.01% 1,234 $459K Add +28.8%
KRC Kilroy Realty Corp. 0.01% 13,971 $458K No change
CURB Curbline Properties Corp. 0.01% 18,874 $457K No change
SHW The Sherwin-Williams Co. 0.01% 1,303 $455K Reduce -7.7%
DE Deere & Co. 0.01% 960 $451K Add +37.1%
TYL Tyler Technologies Inc. 0.01% 774 $450K Add +17.4%
TFC Truist Financial Corp. 0.01% 10,851 $447K No change
ESTC Elastic NV 0.01% 4,999 $445K New
ENS Enersys 0.01% 4,841 $443K Add +14.2%
ADP Automatic Data Processing 0.01% 1,451 $443K No change
CFG Citizens Financial Group 0.01% 10,807 $443K Reduce -51.8%
ORA Ormat Technologies Inc. 0.01% 6,256 $443K Reduce -3.5%
HR Healthcare Realty Trust Inc. 0.01% 26,060 $440K No change
JBL Jabil Inc. 0.01% 3,214 $437K New
NXT Nextpower Inc. filed as NEXTRACKER INC 0.01% 10,244 $432K Reduce -3.5%
BLBD Blue Bird Corp. 0.01% 13,303 $431K Add +96.0%
RBRK Rubrik Inc. Class A 0.01% 7,005 $427K Add +63.1%
LYB Lyondellbasell Indu Class A 0.01% 6,000 $422K No change
ATMU Atmus Filtration Technologie 0.01% 11,409 $419K New
ARQT Arcutis Biotherapeutics Inc. 0.01% 26,520 $415K New
MMYT Makemytrip Ltd. 0.01% 4,211 $413K Reduce -54.4%
PSX Phillips 66 0.01% 3,330 $411K Add +1.6%
STRL Sterling Infrastructure Inc. 0.00% 3,617 $409K Reduce -17.3%
DD Dupont DE Nemours Inc. 0.00% 5,430 $406K Reduce -6.7%
GD General Dynamics Corp. 0.00% 1,462 $399K Reduce -1.3%
AEP American Electric Power 0.00% 3,598 $393K No change
HSAI Hesai Group 0.00% 25,290 $374K New
VLO Valero Energy Corp. 0.00% 2,832 $374K Reduce -0.7%
NBIS Nebius Group NV 0.00% 17,145 $362K New
EXR Extra Space Storage Inc. 0.00% 2,416 $359K Reduce -1.2%
WRBY Warby Parker Inc. Class A 0.00% 19,490 $355K Reduce -3.2%
NXPI NXP Semiconductors NV 0.00% 1,859 $353K Add +0.4%
CTS CTS Corp. 0.00% 8,501 $353K No change
AIV Apartment Invt & Mgmt Co. Class A 0.00% 39,710 $349K New
USB US Bancorp 0.00% 7,971 $337K Reduce -0.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.00% 3,300 $326K Reduce -57.9%
NBIX Neurocrine Biosciences Inc. 0.00% 2,930 $324K Reduce -77.6%
GIS General Mills Inc. 0.00% 5,411 $324K Add +3.5%
ITW Illinois Tool Works 0.00% 1,283 $318K No change
FDS Factset Research Systems Inc. 0.00% 694 $316K Reduce -1.1%
MTSI Macom Technology Solutions H 0.00% 3,128 $314K Add +12.6%
KMB Kimberly-Clark Corp. 0.00% 2,200 $313K No change
KLAC KLA Corp. 0.00% 445 $303K Reduce -23.3%
VRTX Vertex Pharmaceuticals Inc. 0.00% 623 $302K New
PEG Public Service Enterprise GP 0.00% 3,600 $296K No change
MRSH Marsh & McLennan Cos 0.00% 1,200 $293K No change
PRU Prudential Financial Inc. 0.00% 2,600 $290K No change
ZS Zscaler Inc. 0.00% 1,450 $288K Reduce -67.9%
CTVA Corteva Inc. 0.00% 4,551 $286K Reduce -1.6%
KHC The Kraft Heinz Co. 0.00% 9,292 $283K No change
FANG Diamondback Energy Inc. 0.00% 1,746 $279K No change
PAYX Paychex Inc. 0.00% 1,800 $278K No change
GLPI Gaming and Leisure Propertie 0.00% 5,405 $275K No change
BC Brunswick Corp. 0.00% 4,987 $269K No change
CAH Cardinal Health Inc. 0.00% 1,881 $259K No change
AXP American Express Co. 0.00% 945 $254K No change
SNY Sanofi-ADR 0.00% 4,518 $251K New
MPC Marathon Petroleum Corp. 0.00% 1,700 $248K Reduce -60.9%
SYY Sysco Corp. 0.00% 3,300 $248K No change
BIIB Biogen Inc. 0.00% 1,797 $246K New
XEL Xcel Energy Inc. 0.00% 3,460 $245K No change
KR Kroger Co. 0.00% 3,600 $244K No change
ED Consolidated Edison Inc. 0.00% 2,200 $243K New
WSM Williams-Sonoma Inc. 0.00% 1,536 $243K New
URI United Rentals Inc. 0.00% 385 $241K New
PPG PPG Industries Inc. 0.00% 2,100 $230K No change
PKG Packaging Corp. of America 0.00% 1,142 $226K No change
AMCR Amcor PLC 0.00% 23,254 $226K No change
ARMK Aramark 0.00% 6,402 $221K Reduce -98.7%
BSX Boston Scientific Corp. 0.00% 2,187 $221K Reduce -3.2%
CAVA Cava Group Inc. 0.00% 2,523 $218K New
ZTS Zoetis Inc. 0.00% 1,317 $217K No change
K Kellanova 0.00% 2,600 $214K No change
OMC Omnicom Group 0.00% 2,554 $212K New
WEC WEC Energy Group Inc. 0.00% 1,943 $212K New
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.00% 2,480 $208K Reduce -36.0%
BDX Becton Dickinson and Co. 0.00% 879 $201K New
HPE Hewlett Packard Enterprise 0.00% 10,526 $162K New
VTRS Viatris Inc. 0.00% 15,592 $136K No change
BBD Banco Bradesco-ADR 0.00% 47,383 $106K No change
TELFY Telefonica SA-Spon ADR 0.00% 10,393 $48K No change

Portfolio Sells Q4 2024 → Q1 2025

RYAAY Ryanair Holdings PLC-SP ADR Sold out 0.00% −1.31
MSFT Microsoft Corp. Reduce -34.7% 1.94% −1.31
GTLS Chart Industries Inc. Sold out 0.00% −0.98
PYPL PayPal Holdings Inc. Reduce -96.8% 0.02% −0.92
MRVL Marvell Technology Inc. Reduce -96.9% 0.02% −0.89
ADBE Adobe Inc. Reduce -96.6% 0.03% −0.89
PTC PTC Inc. Reduce -95.8% 0.03% −0.89
TPG TPG Inc. Sold out 0.00% −0.86
LLY Eli Lilly & Co. Reduce -98.5% 0.01% −0.83
PRCT Procept Biorobotics Corp. Sold out 0.00% −0.79
FLUT Flutter Entertainment PLC-Di Reduce -7.9% 3.00% −0.70
NU Nu Holdings Ltd./Cayman Isl-A Reduce -74.8% 0.20% −0.59
CMCSA Comcast Corp. Class A Reduce -93.7% 0.04% −0.57
NVDA Nvidia Corp. Reduce -12.5% 1.25% −0.47
LAD Lithia Motors Inc. Sold out 0.00% −0.41
AVGO Broadcom Inc. Reduce -4.9% 0.77% −0.32
PRKS United Parks & Resorts Inc. Sold out 0.00% −0.30
SPOT Spotify Technology SA Reduce -29.7% 2.38% −0.30
TSM Taiwan Semiconductor-SP ADR Reduce -22.3% 0.55% −0.27
CDW CDW Corp. Reduce -11.4% 1.38% −0.26
GOOGL Alphabet Inc. Class A Reduce -2.6% 1.02% −0.23
ARMK Aramark Reduce -98.7% 0.00% −0.21
CIEN Ciena Corp. Reduce -34.8% 0.17% −0.18
ARES Ares Management Corp. Class A Reduce -5.1% 0.74% −0.18
GXO Gxo Logistics Inc. Reduce -3.5% 1.43% −0.17
AMZN Amazon.com Inc. Reduce -4.4% 0.97% −0.17
ALB Albemarle Corp. Sold out 0.00% −0.13
GRAB Grab Holdings Ltd. Class A Reduce -3.9% 2.37% −0.13
CLVT Clarivate PLC Reduce -3.9% 0.42% −0.13
XYZ Block Inc. Sold out 0.00% −0.13
CCL Carnival Corp. Reduce -1.0% 0.38% −0.10
AVTR Avantor Inc. Reduce -1.3% 0.34% −0.10
LNWO Light & Wonder Inc. Reduce -35.2% 0.18% −0.09
BALL Ball Corp. Sold out 0.00% −0.08
PRGO Perrigo Co. PLC Reduce -20.3% 0.65% −0.08
PHG Koninklijke Philips NVR- NY Reduce -22.7% 0.26% −0.07
LBTYK Liberty Global Ltd. Class C Sold out 0.00% −0.06
CRH CRH PLC Reduce -0.0% 2.48% −0.06
ARGX Argenx SE - ADR Reduce -5.3% 0.82% −0.05
AAPL Apple Inc. Reduce -14.0% 0.18% −0.05
MSA Msa Safety Inc. Reduce -48.6% 0.04% −0.04
WTM White Mountains Insurance GP Reduce -19.7% 0.18% −0.04
VRRM Verra Mobility Corp. Reduce -40.1% 0.04% −0.03
A Agilent Technologies Inc. Reduce -41.9% 0.03% −0.03
FIS Fidelity National Info Serv Reduce -1.7% 0.41% −0.03
ANSS Ansys Inc. Reduce -30.9% 0.06% −0.03
SNREY Sunrise Communicat Class A Sold out 0.00% −0.03
SHOP Shopify Inc. Class A Reduce -3.1% 0.20% −0.02
NOMD Nomad Foods Ltd. Reduce -29.5% 0.12% −0.02
PLTR Palantir Technologies Inc. Class A Reduce -73.0% 0.01% −0.02

Portfolio Buys Q4 2024 → Q1 2025

CME Cme Group Inc. Add +2214.8% 0.89% +0.86
CBOE Cboe Global Markets Inc. New 0.81% +0.81
SNEX Stonex Group Inc. New 0.78% +0.78
NFLX Netflix Inc. Add +3406.7% 0.80% +0.78
NTNX Nutanix Inc. Class A Add +10205.3% 0.74% +0.73
ISRG Intuitive Surgical Inc. New 0.72% +0.72
FOUR SHIFT4 Payments Inc. Class A New 0.69% +0.69
ATO Atmos Energy Corp. Add +17.2% 2.71% +0.69
WPM Wheaton Precious Metals Corp. New 0.61% +0.61
FCX Freeport-McMoran Inc. Add +71.7% 1.35% +0.58
JAZZ Jazz Pharmaceuticals PLC Add +60.2% 1.43% +0.57
ELV Elevance Health Inc. Add +9383.2% 0.51% +0.50
ORCL Oracle Corp. Add +46.9% 2.17% +0.46
EG Everest Group Ltd. New 0.46% +0.46
FERG Ferguson Enterprises Inc. Add +462.2% 0.52% +0.42
CMS CMS Energy Corp. Add +4.0% 1.96% +0.33
ENTG Entegris Inc. New 0.28% +0.28
TMO Thermo Fisher Scientific Inc. Add +20.9% 1.67% +0.27
FMX Fomento Economico Mex-SP ADR Add +5.7% 1.15% +0.22
ITUB Itau Unibanco H-Spon PRF ADR Add +9.9% 1.00% +0.20
BAC Bank of America Corp. Add +238.4% 0.28% +0.19
LEN Lennar Corp. Class A New 0.18% +0.18
VRT Vertiv Holdings Co. Class A Add +1955.2% 0.19% +0.17
SBAC SBA Communications Corp. Add +37.8% 0.47% +0.16
MCHP Microchip Technology Inc. Add +99.2% 0.36% +0.15
SLM SLM Corp. Add +172.7% 0.23% +0.15
MAA Mid-America Apartment Comm Add +41.5% 0.37% +0.13
PSA Public Storage Add +33.8% 0.48% +0.13
GEHC GE Healthcare Technology Add +3.9% 1.32% +0.12
PLD Prologis Inc. Add +22.5% 0.48% +0.12
RDUS Radius Recycling Inc. Class A Add +159.6% 0.12% +0.10
NICE Nice Ltd. - Spon ADR Add +33.5% 0.47% +0.09
INFY Infosys Ltd.-SP ADR Add +72.6% 0.26% +0.08
FTV Fortive Corp. Add +60.0% 0.21% +0.08
YMM Full Truck Alliance -SPN ADR Add +9.8% 0.30% +0.08
AWK American Water Works Co. Inc. Add +21.9% 0.23% +0.07
MASI Masimo Corp. New 0.06% +0.06
LKQ LKQ Corp. Add +40.6% 0.15% +0.06
PAAS Pan American Silver Corp. Add +24.9% 0.15% +0.06
BUD Anheuser-Busch Inbev-SPN ADR Add +21.4% 0.16% +0.05
SBS Cia Saneamento Basico DE-ADR Add +12.3% 0.17% +0.05
VEEV Veeva Systems Inc. Class A New 0.05% +0.05
AWR American States Water Co. Add +41.8% 0.14% +0.05
WCN Waste Connections Inc. Add +12.3% 0.18% +0.04
TOST Toast Inc. Class A Add +13.2% 0.76% +0.04
STE Steris PLC Add +21.4% 0.15% +0.04
CCK Crown Holdings Inc. Add +22.1% 0.14% +0.04
PODD Insulet Corp. New 0.04% +0.04
MWA Mueller Water Products Inc. Class A Add +24.5% 0.12% +0.04
MDT Medtronic PLC Add +177.5% 0.05% +0.04

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 419$7.0BSRE, TEL, FLUT, ATO, CRH
Q1 2026 424$6.5BSRE, ATO, FLUT, ICE, PM
Q4 2025 411$6.9BSRE, MSFT, ATO, PM, CRH
Q3 2025 400$8.1BSRE, MSFT, CDW, ATO, FLUT
Q2 2025 416$8.5BFLUT, MELI, ICE, SE, ORCL
Q1 2025 411$8.3BMELI, SE, ICE, FLUT, ATO
Q4 2024 409$8.5BFLUT, MSFT, MELI, SPOT, ICE
Q3 2024 418$9.2BLIN, FLUT, MELI, MSFT, SPOT
Q2 2024 424$9.2BLIN, CRH, MSFT, MELI, FLUT
Q1 2024Amended 433$10.2BLIN, CRH, MSFT, ITUB, ELV