PineStone Asset Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), PineStone Asset Management Inc. reported 45 stock positions worth $13.2 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 8.5% of the portfolio, followed by Microsoft (MSFT, 8.3%) and AutoZone (AZO, 7.8%). Compared with Q4 2024, it opened 1 new position, sold out of 1, added to 33 and reduced 4. The biggest buy was AutoZone (AZO, shares +27%) and the biggest sale Becton Dickinson and (BDX, shares −51%).
- Most Recent 13F
- Q2 2026
- Location
- Montreal, A8
- CIK
- 0001904893
- Portfolio Value
- $13.2B (Q1 2025)
- SEC Filing
- 0001172661-25-001688 ↗ filed May 12, 2025
Holdings Value
Holdings 45 stocks · $13.2B
| TSM Taiwan Semiconductor-SP ADR | 8.50% | 6,785,321 | $1.1B | Add +46.2% |
| MSFT Microsoft Corp. | 8.30% | 2,929,471 | $1.1B | Add +30.7% |
| AZO AutoZone Inc. | 7.81% | 271,237 | $1.0B | Add +27.0% |
| GOOGL Alphabet Inc. Class A | 7.63% | 6,533,632 | $1.0B | Add +32.6% |
| MCO Moody's Corp. | 7.37% | 2,095,469 | $975.8M | Add +36.3% |
| MA Mastercard Inc. Class A | 6.15% | 1,486,860 | $815.0M | Add +25.2% |
| CME Cme Group Inc. | 4.74% | 2,365,185 | $627.5M | Add +42.0% |
| UNH Unitedhealth Group Inc. | 4.44% | 1,123,029 | $588.2M | Add +29.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 4.16% | 4,523,338 | $550.9M | Add +33.7% |
| SHW The Sherwin-Williams Co. | 3.96% | 1,500,484 | $524.0M | Add +33.4% |
| MSCI MSCI Inc. | 3.40% | 795,657 | $449.9M | Add +39.7% |
| OTIS Otis Worldwide Corp. | 3.19% | 4,095,132 | $422.6M | Add +36.4% |
| ORCL Oracle Corp. | 2.98% | 2,820,855 | $394.4M | Add +8.9% |
| PEP Pepsico Inc. | 2.75% | 2,426,833 | $363.9M | Add +9.2% |
| JNJ Johnson & Johnson | 2.58% | 2,064,633 | $342.4M | Add +5.3% |
| SPGI S&P Global Inc. | 2.39% | 623,103 | $316.6M | Add +48.9% |
| GGG Graco Inc. | 2.26% | 3,584,495 | $299.3M | Add +23.4% |
| CARR Carrier Global Corp. | 2.25% | 4,698,516 | $297.9M | Add +11.7% |
| MTD Mettler-Toledo International | 2.10% | 235,612 | $278.2M | Add +39.1% |
| HDB HDFC Bank Ltd.-ADR | 1.99% | 3,969,039 | $263.7M | Add +22.4% |
| CPRT Copart Inc. | 1.75% | 4,097,404 | $231.9M | Add +158.4% |
| LOW Lowe's Cos Inc. | 1.62% | 921,059 | $214.8M | Add +12.1% |
| FDS Factset Research Systems Inc. | 1.20% | 349,578 | $158.9M | Add +19.3% |
| ADI Analog Devices Inc. | 1.16% | 760,999 | $153.5M | Add +10.1% |
| HLT Hilton Worldwide Holdings Inc. | 1.04% | 606,042 | $137.9M | Add +14.8% |
| ADBE Adobe Inc. | 0.84% | 288,938 | $110.8M | Add +3.4% |
| CL Colgate-Palmolive Co. | 0.82% | 1,165,077 | $109.2M | Add +8.0% |
| BDX Becton Dickinson and Co. | 0.70% | 403,744 | $92.5M | Reduce -51.1% |
| NKE Nike Inc. Class B | 0.69% | 1,438,345 | $91.3M | Add +10.3% |
| WH Wyndham Hotels & Resorts Inc. | 0.14% | 202,750 | $18.4M | Reduce -15.0% |
| FSS Federal Signal Corp. | 0.10% | 174,884 | $12.9M | No change |
| IPAR Interparfums Inc. | 0.09% | 110,084 | $12.5M | No change |
| DCI Donaldson Co. Inc. | 0.09% | 175,461 | $11.8M | Reduce -11.0% |
| TREX Trex Company Inc. | 0.09% | 199,769 | $11.6M | Add +22.9% |
| HLI Houlihan Lokey Inc. | 0.08% | 69,395 | $11.2M | Add +13.8% |
| JBTM JBT Marel Corp. | 0.08% | 91,629 | $11.2M | No change |
| MEDP Medpace Holdings Inc. | 0.08% | 36,300 | $11.1M | No change |
| WDFC WD-40 Co. | 0.07% | 40,700 | $9.9M | No change |
| BRKR Bruker Corp. | 0.07% | 237,576 | $9.9M | Add +7.2% |
| SSD Simpson Manufacturing Co. Inc. | 0.07% | 60,300 | $9.5M | Reduce -14.0% |
| EXPO Exponent Inc. | 0.07% | 115,094 | $9.3M | Add +17.1% |
| FND Floor & Decor Holdings Inc. Class A | 0.07% | 112,300 | $9.0M | Add +7.5% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.06% | 43,800 | $8.0M | New |
| POWI Power Integrations Inc. | 0.03% | 79,100 | $4.0M | No change |
| MIDD Middleby Corp. | 0.03% | 24,941 | $3.8M | No change |
Portfolio Sells Q4 2024 → Q1 2025
Portfolio Buys Q4 2024 → Q1 2025
| AZO AutoZone Inc. | Add +27.0% | 7.81% | +1.40 |
| CME Cme Group Inc. | Add +42.0% | 4.74% | +1.11 |
| CPRT Copart Inc. | Add +158.4% | 1.75% | +0.90 |
| OTIS Otis Worldwide Corp. | Add +36.4% | 3.19% | +0.58 |
| MCO Moody's Corp. | Add +36.3% | 7.37% | +0.55 |
| SPGI S&P Global Inc. | Add +48.9% | 2.39% | +0.44 |
| SHW The Sherwin-Williams Co. | Add +33.4% | 3.96% | +0.37 |
| UNH Unitedhealth Group Inc. | Add +29.7% | 4.44% | +0.34 |
| TJX TJX Companies Inc. | Add +33.7% | 4.16% | +0.33 |
| MA Mastercard Inc. Class A | Add +25.2% | 6.15% | +0.29 |
| MSCI MSCI Inc. | Add +39.7% | 3.40% | +0.20 |
| MTD Mettler-Toledo International | Add +39.1% | 2.10% | +0.16 |
| JKHY Jack Henry & Associates Inc. | New | 0.06% | +0.06 |
| HDB HDFC Bank Ltd.-ADR | Add +22.4% | 1.99% | +0.05 |
| EXPO Exponent Inc. | Add +17.1% | 0.07% | −0.01 |
| HLI Houlihan Lokey Inc. | Add +13.8% | 0.08% | −0.01 |
| TREX Trex Company Inc. | Add +22.9% | 0.09% | −0.02 |
| FND Floor & Decor Holdings Inc. Class A | Add +7.5% | 0.07% | −0.03 |
| GGG Graco Inc. | Add +23.4% | 2.26% | −0.03 |
| BRKR Bruker Corp. | Add +7.2% | 0.07% | −0.05 |
| JNJ Johnson & Johnson | Add +5.3% | 2.58% | −0.07 |
| TSM Taiwan Semiconductor-SP ADR | Add +46.2% | 8.50% | −0.09 |
| CL Colgate-Palmolive Co. | Add +8.0% | 0.82% | −0.09 |
| FDS Factset Research Systems Inc. | Add +19.3% | 1.20% | −0.12 |
| HLT Hilton Worldwide Holdings Inc. | Add +14.8% | 1.04% | −0.18 |
| ADI Analog Devices Inc. | Add +10.1% | 1.16% | −0.22 |
| NKE Nike Inc. Class B | Add +10.3% | 0.69% | −0.24 |
| LOW Lowe's Cos Inc. | Add +12.1% | 1.62% | −0.28 |
| ADBE Adobe Inc. | Add +3.4% | 0.84% | −0.33 |
| PEP Pepsico Inc. | Add +9.2% | 2.75% | −0.42 |
| CARR Carrier Global Corp. | Add +11.7% | 2.25% | −0.44 |
| MSFT Microsoft Corp. | Add +30.7% | 8.30% | −0.55 |
| ORCL Oracle Corp. | Add +8.9% | 2.98% | −1.07 |
| GOOGL Alphabet Inc. Class A | Add +32.6% | 7.63% | −1.11 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 44 | $16.2B | TSM, GOOGL, MCO, MSFT, MA |
| Q1 2026 | 44 | $14.2B | TSM, GOOGL, MSFT, MCO, MA |
| Q4 2025 | 43 | $16.1B | TSM, GOOGL, MSFT, MCO, MA |
| Q3 2025 | 43 | $16.1B | TSM, GOOGL, MSFT, AZO, MCO |
| Q2 2025 | 44 | $15.5B | TSM, MSFT, GOOGL, MCO, AZO |
| Q1 2025 | 45 | $13.2B | TSM, MSFT, AZO, GOOGL, MCO |
| Q4 2024 | 45 | $10.7B | MSFT, GOOGL, TSM, MCO, AZO |
| Q3 2024 | 44 | $10.4B | MSFT, TSM, GOOGL, MCO, AZO |
| Q2 2024Amended | 43 | $9.4B | MSFT, TSM, GOOGL, MCO, AZO |
| Q1 2024 | 44 | $6.3B | MSFT, TSM, GOOGL, AZO, MCO |