PineStone Asset Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 15, 2026), PineStone Asset Management Inc. reported 43 stock positions worth $16.1 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 11.8% of the portfolio, followed by Alphabet Class A (GOOGL, 11.2%) and Microsoft (MSFT, 8.8%). Compared with Q3 2025, it opened 1 new position, sold out of 1, added to 17 and reduced 19. The biggest buy was a new position in Amazon.com (AMZN) and the biggest sale Oracle (ORCL, shares −48%).
- Most Recent 13F
- Q2 2026
- Location
- Montreal, A8
- CIK
- 0001904893
- Portfolio Value
- $16.1B (Q4 2025)
- SEC Filing
- 0001172661-26-000201 ↗ filed Jan 15, 2026
Holdings Value
Holdings 43 stocks · $16.1B
| TSM Taiwan Semiconductor-SP ADR | 11.80% | 6,246,545 | $1.9B | Reduce -4.6% |
| GOOGL Alphabet Inc. Class A | 11.18% | 5,747,054 | $1.8B | Reduce -10.2% |
| MSFT Microsoft Corp. | 8.81% | 2,931,514 | $1.4B | Add +0.8% |
| MCO Moody's Corp. | 7.54% | 2,375,768 | $1.2B | Add +4.9% |
| MA Mastercard Inc. Class A | 6.02% | 1,697,191 | $968.9M | Add +7.0% |
| AZO AutoZone Inc. | 5.67% | 269,173 | $912.9M | Add +1.5% |
| CME Cme Group Inc. | 4.44% | 2,613,439 | $713.7M | Add +1.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 4.04% | 4,226,294 | $649.2M | Reduce -2.6% |
| MSCI MSCI Inc. | 3.57% | 1,000,942 | $574.3M | Add +4.1% |
| SHW The Sherwin-Williams Co. | 3.46% | 1,719,020 | $557.0M | Add +4.4% |
| MTD Mettler-Toledo International | 2.80% | 323,074 | $450.4M | Reduce -0.1% |
| JNJ Johnson & Johnson | 2.66% | 2,067,667 | $427.9M | Reduce -1.1% |
| OTIS Otis Worldwide Corp. | 2.54% | 4,679,997 | $408.8M | Add +3.6% |
| CARR Carrier Global Corp. | 2.35% | 7,153,429 | $378.0M | Add +34.6% |
| PEP Pepsico Inc. | 2.25% | 2,525,948 | $362.5M | Add +4.1% |
| ORCL Oracle Corp. | 2.18% | 1,800,309 | $350.9M | Reduce -47.5% |
| CPRT Copart Inc. | 2.07% | 8,517,154 | $333.4M | Add +10.3% |
| SPGI S&P Global Inc. | 2.01% | 617,388 | $322.6M | Add +2.4% |
| GGG Graco Inc. | 1.93% | 3,788,983 | $310.6M | Reduce -0.3% |
| HDB HDFC Bank Ltd.-ADR | 1.89% | 8,315,726 | $303.9M | Add +1.9% |
| UNH Unitedhealth Group Inc. | 1.69% | 825,705 | $272.6M | Add +6.6% |
| AMZN Amazon.com Inc. | 1.53% | 1,066,600 | $246.2M | New |
| ADI Analog Devices Inc. | 1.49% | 885,076 | $240.0M | Reduce -4.3% |
| HLT Hilton Worldwide Holdings Inc. | 1.42% | 792,764 | $227.7M | Reduce -4.9% |
| LOW Lowe's Cos Inc. | 1.39% | 926,350 | $223.4M | Reduce -4.8% |
| CL Colgate-Palmolive Co. | 0.78% | 1,590,289 | $125.7M | Reduce -0.9% |
| FDS Factset Research Systems Inc. | 0.74% | 412,864 | $119.8M | Reduce -1.6% |
| NKE Nike Inc. Class B | 0.74% | 1,867,235 | $119.0M | Add +13.5% |
| FSS Federal Signal Corp. | 0.13% | 185,484 | $20.1M | No change |
| MEDP Medpace Holdings Inc. | 0.09% | 24,700 | $13.9M | Reduce -15.4% |
| HLI Houlihan Lokey Inc. | 0.08% | 74,495 | $13.0M | No change |
| JBTM JBT Marel Corp. | 0.08% | 83,429 | $12.6M | Reduce -4.4% |
| DCI Donaldson Co. Inc. | 0.08% | 139,361 | $12.4M | Reduce -7.6% |
| WH Wyndham Hotels & Resorts Inc. | 0.07% | 156,650 | $11.8M | Reduce -25.0% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.07% | 60,200 | $11.0M | No change |
| EXPO Exponent Inc. | 0.06% | 139,494 | $9.7M | Add +6.3% |
| IPAR Interparfums Inc. | 0.06% | 110,852 | $9.4M | Reduce -7.1% |
| HAYW Hayward Holdings Inc. | 0.06% | 595,200 | $9.2M | No change |
| WDFC WD-40 Co. | 0.05% | 43,610 | $8.6M | No change |
| SSD Simpson Manufacturing Co. Inc. | 0.05% | 49,610 | $8.0M | Reduce -12.7% |
| FND Floor & Decor Holdings Inc. Class A | 0.05% | 130,800 | $8.0M | Add +16.5% |
| TREX Trex Company Inc. | 0.05% | 223,169 | $7.8M | Reduce -6.9% |
| POWI Power Integrations Inc. | 0.02% | 79,100 | $2.8M | No change |
Portfolio Sells Q3 2025 → Q4 2025
| ORCL Oracle Corp. | Reduce -47.5% | 2.18% | −3.82 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.44 |
| LOW Lowe's Cos Inc. | Reduce -4.8% | 1.39% | −0.13 |
| GGG Graco Inc. | Reduce -0.3% | 1.93% | −0.08 |
| WH Wyndham Hotels & Resorts Inc. | Reduce -25.0% | 0.07% | −0.03 |
| TREX Trex Company Inc. | Reduce -6.9% | 0.05% | −0.03 |
| CL Colgate-Palmolive Co. | Reduce -0.9% | 0.78% | −0.02 |
| IPAR Interparfums Inc. | Reduce -7.1% | 0.06% | −0.01 |
| SSD Simpson Manufacturing Co. Inc. | Reduce -12.7% | 0.05% | −0.01 |
| MEDP Medpace Holdings Inc. | Reduce -15.4% | 0.09% | −0.01 |
| FDS Factset Research Systems Inc. | Reduce -1.6% | 0.74% | −0.00 |
| DCI Donaldson Co. Inc. | Reduce -7.6% | 0.08% | 0.00 |
| JBTM JBT Marel Corp. | Reduce -4.4% | 0.08% | +0.00 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -4.9% | 1.42% | +0.07 |
| ADI Analog Devices Inc. | Reduce -4.3% | 1.49% | +0.08 |
| TJX TJX Companies Inc. | Reduce -2.6% | 4.04% | +0.13 |
| JNJ Johnson & Johnson | Reduce -1.1% | 2.66% | +0.25 |
| MTD Mettler-Toledo International | Reduce -0.1% | 2.80% | +0.33 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -4.6% | 11.80% | +0.43 |
| GOOGL Alphabet Inc. Class A | Reduce -10.2% | 11.18% | +1.50 |
Portfolio Buys Q3 2025 → Q4 2025
| AMZN Amazon.com Inc. | New | 1.53% | +1.53 |
| MCO Moody's Corp. | Add +4.9% | 7.54% | +0.83 |
| MA Mastercard Inc. Class A | Add +7.0% | 6.02% | +0.41 |
| CARR Carrier Global Corp. | Add +34.6% | 2.35% | +0.38 |
| SPGI S&P Global Inc. | Add +2.4% | 2.01% | +0.18 |
| MSCI MSCI Inc. | Add +4.1% | 3.57% | +0.17 |
| HDB HDFC Bank Ltd.-ADR | Add +1.9% | 1.89% | +0.15 |
| PEP Pepsico Inc. | Add +4.1% | 2.25% | +0.13 |
| CME Cme Group Inc. | Add +1.7% | 4.44% | +0.12 |
| UNH Unitedhealth Group Inc. | Add +6.6% | 1.69% | +0.03 |
| NKE Nike Inc. Class B | Add +13.5% | 0.74% | +0.03 |
| EXPO Exponent Inc. | Add +6.3% | 0.06% | +0.00 |
| FND Floor & Decor Holdings Inc. Class A | Add +16.5% | 0.05% | −0.00 |
| OTIS Otis Worldwide Corp. | Add +3.6% | 2.54% | −0.03 |
| SHW The Sherwin-Williams Co. | Add +4.4% | 3.46% | −0.08 |
| CPRT Copart Inc. | Add +10.3% | 2.07% | −0.09 |
| MSFT Microsoft Corp. | Add +0.8% | 8.81% | −0.56 |
| AZO AutoZone Inc. | Add +1.5% | 5.67% | −1.41 |
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 |