PineStone Asset Management Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 16, 2025), PineStone Asset Management Inc. reported 44 stock positions worth $15.5 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 10.3% of the portfolio, followed by Microsoft (MSFT, 10.0%) and Alphabet Class A (GOOGL, 7.8%). Compared with Q1 2025, it opened 1 new position, sold out of 2, added to 33 and reduced 6. The biggest buy was Oracle (ORCL, shares +27%) and the biggest sale Unitedhealth (UNH, shares −26%).
- Most Recent 13F
- Q2 2026
- Location
- Montreal, A8
- CIK
- 0001904893
- Portfolio Value
- $15.5B (Q2 2025)
- SEC Filing
- 0001172661-25-002609 ↗ filed Jul 16, 2025
Holdings Value
Holdings 44 stocks · $15.5B
| TSM Taiwan Semiconductor-SP ADR | 10.30% | 7,025,731 | $1.6B | Add +3.5% |
| MSFT Microsoft Corp. | 10.02% | 3,111,958 | $1.5B | Add +6.2% |
| GOOGL Alphabet Inc. Class A | 7.76% | 6,807,110 | $1.2B | Add +4.2% |
| MCO Moody's Corp. | 7.50% | 2,311,020 | $1.2B | Add +10.3% |
| AZO AutoZone Inc. | 6.77% | 281,693 | $1.0B | Add +3.9% |
| MA Mastercard Inc. Class A | 5.84% | 1,607,207 | $903.2M | Add +8.1% |
| ORCL Oracle Corp. | 5.08% | 3,590,801 | $785.1M | Add +27.3% |
| CME Cme Group Inc. | 4.53% | 2,540,578 | $700.2M | Add +7.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 3.75% | 4,690,373 | $579.2M | Add +3.7% |
| SHW The Sherwin-Williams Co. | 3.73% | 1,681,100 | $577.2M | Add +12.0% |
| MSCI MSCI Inc. | 3.32% | 890,123 | $513.4M | Add +11.9% |
| OTIS Otis Worldwide Corp. | 2.97% | 4,639,065 | $459.4M | Add +13.3% |
| MTD Mettler-Toledo International | 2.54% | 334,349 | $392.8M | Add +41.9% |
| CARR Carrier Global Corp. | 2.51% | 5,300,483 | $387.9M | Add +12.8% |
| GGG Graco Inc. | 2.18% | 3,911,372 | $336.3M | Add +9.1% |
| PEP Pepsico Inc. | 2.16% | 2,523,928 | $333.3M | Add +4.0% |
| JNJ Johnson & Johnson | 2.15% | 2,178,970 | $332.8M | Add +5.5% |
| SPGI S&P Global Inc. | 2.11% | 618,443 | $326.1M | Reduce -0.8% |
| CPRT Copart Inc. | 2.03% | 6,407,471 | $314.4M | Add +56.4% |
| HDB HDFC Bank Ltd.-ADR | 2.02% | 4,074,467 | $312.4M | Add +2.7% |
| UNH Unitedhealth Group Inc. | 1.67% | 829,356 | $258.7M | Reduce -26.1% |
| HLT Hilton Worldwide Holdings Inc. | 1.46% | 844,534 | $224.9M | Add +39.4% |
| ADI Analog Devices Inc. | 1.45% | 944,376 | $224.8M | Add +24.1% |
| LOW Lowe's Cos Inc. | 1.42% | 989,700 | $219.6M | Add +7.5% |
| FDS Factset Research Systems Inc. | 1.10% | 380,459 | $170.2M | Add +8.8% |
| ADBE Adobe Inc. | 0.82% | 327,214 | $126.6M | Add +13.3% |
| NKE Nike Inc. Class B | 0.77% | 1,684,895 | $119.7M | Add +17.1% |
| CL Colgate-Palmolive Co. | 0.74% | 1,259,389 | $114.5M | Add +8.1% |
| WH Wyndham Hotels & Resorts Inc. | 0.23% | 411,500 | $35.3M | Add +103.0% |
| FSS Federal Signal Corp. | 0.14% | 198,184 | $21.1M | Add +13.3% |
| IPAR Interparfums Inc. | 0.09% | 108,517 | $14.2M | Reduce -1.4% |
| HLI Houlihan Lokey Inc. | 0.09% | 74,495 | $13.4M | Add +7.3% |
| TREX Trex Company Inc. | 0.08% | 239,769 | $13.0M | Add +20.0% |
| MEDP Medpace Holdings Inc. | 0.07% | 36,300 | $11.4M | No change |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.07% | 60,200 | $10.8M | Add +37.4% |
| JBTM JBT Marel Corp. | 0.07% | 87,229 | $10.5M | Reduce -4.8% |
| DCI Donaldson Co. Inc. | 0.07% | 150,861 | $10.5M | Reduce -14.0% |
| WDFC WD-40 Co. | 0.06% | 43,610 | $9.9M | Add +7.2% |
| BRKR Bruker Corp. | 0.06% | 237,576 | $9.8M | No change |
| EXPO Exponent Inc. | 0.06% | 122,694 | $9.2M | Add +6.6% |
| SSD Simpson Manufacturing Co. Inc. | 0.06% | 58,000 | $9.0M | Reduce -3.8% |
| FND Floor & Decor Holdings Inc. Class A | 0.06% | 112,300 | $8.5M | No change |
| HAYW Hayward Holdings Inc. | 0.05% | 521,300 | $7.2M | New |
| POWI Power Integrations Inc. | 0.03% | 79,100 | $4.4M | No change |
Portfolio Sells Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | Reduce -26.1% | 1.67% | −2.77 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.70 |
| SPGI S&P Global Inc. | Reduce -0.8% | 2.11% | −0.28 |
| MIDD Middleby Corp. | Sold out | 0.00% | −0.03 |
| DCI Donaldson Co. Inc. | Reduce -14.0% | 0.07% | −0.02 |
| JBTM JBT Marel Corp. | Reduce -4.8% | 0.07% | −0.02 |
| SSD Simpson Manufacturing Co. Inc. | Reduce -3.8% | 0.06% | −0.01 |
| IPAR Interparfums Inc. | Reduce -1.4% | 0.09% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| ORCL Oracle Corp. | Add +27.3% | 5.08% | +2.10 |
| TSM Taiwan Semiconductor-SP ADR | Add +3.5% | 10.30% | +1.79 |
| MSFT Microsoft Corp. | Add +6.2% | 10.02% | +1.71 |
| MTD Mettler-Toledo International | Add +41.9% | 2.54% | +0.44 |
| HLT Hilton Worldwide Holdings Inc. | Add +39.4% | 1.46% | +0.41 |
| ADI Analog Devices Inc. | Add +24.1% | 1.45% | +0.30 |
| CPRT Copart Inc. | Add +56.4% | 2.03% | +0.28 |
| CARR Carrier Global Corp. | Add +12.8% | 2.51% | +0.26 |
| GOOGL Alphabet Inc. Class A | Add +4.2% | 7.76% | +0.13 |
| MCO Moody's Corp. | Add +10.3% | 7.50% | +0.13 |
| WH Wyndham Hotels & Resorts Inc. | Add +103.0% | 0.23% | +0.09 |
| NKE Nike Inc. Class B | Add +17.1% | 0.77% | +0.09 |
| HAYW Hayward Holdings Inc. | New | 0.05% | +0.05 |
| FSS Federal Signal Corp. | Add +13.3% | 0.14% | +0.04 |
| HDB HDFC Bank Ltd.-ADR | Add +2.7% | 2.02% | +0.03 |
| JKHY Jack Henry & Associates Inc. | Add +37.4% | 0.07% | +0.01 |
| HLI Houlihan Lokey Inc. | Add +7.3% | 0.09% | +0.00 |
| TREX Trex Company Inc. | Add +20.0% | 0.08% | −0.00 |
| WDFC WD-40 Co. | Add +7.2% | 0.06% | −0.01 |
| EXPO Exponent Inc. | Add +6.6% | 0.06% | −0.01 |
| ADBE Adobe Inc. | Add +13.3% | 0.82% | −0.02 |
| MSCI MSCI Inc. | Add +11.9% | 3.32% | −0.08 |
| CL Colgate-Palmolive Co. | Add +8.1% | 0.74% | −0.08 |
| GGG Graco Inc. | Add +9.1% | 2.18% | −0.08 |
| FDS Factset Research Systems Inc. | Add +8.8% | 1.10% | −0.10 |
| LOW Lowe's Cos Inc. | Add +7.5% | 1.42% | −0.20 |
| CME Cme Group Inc. | Add +7.4% | 4.53% | −0.21 |
| OTIS Otis Worldwide Corp. | Add +13.3% | 2.97% | −0.22 |
| SHW The Sherwin-Williams Co. | Add +12.0% | 3.73% | −0.22 |
| MA Mastercard Inc. Class A | Add +8.1% | 5.84% | −0.31 |
| TJX TJX Companies Inc. | Add +3.7% | 3.75% | −0.41 |
| JNJ Johnson & Johnson | Add +5.5% | 2.15% | −0.43 |
| PEP Pepsico Inc. | Add +4.0% | 2.16% | −0.59 |
| AZO AutoZone Inc. | Add +3.9% | 6.77% | −1.04 |
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 |