PineStone Asset Management Inc.

CIK

1904893

Location

Montreal, A8

Portfolio Value

Large $14,226,918,863

Diversification

Diversified

Filing Date

Global Rank

#235 / 8,232 ▲ 3

Top Industry

Financial Data & Stock Exchanges 18.5%

3Y Alpha vs SPY

-6.6%

Period ended 2 months ago

Filed May 1, 2026 · 44d

14 quarters · since Dec 2022

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+48.8%

SPY

+76.3%

Annualised alpha

-6.6%

Max drawdown

−15.4%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

44 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

12.6%

+0.8 pts

Top 5

44.0%

−1.3 pts

Top 10

67.4%

+0.8 pts

HHI

595

Diversified+2

Portfolio Trend

14 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	25.5%	$3,629,109,436	8
Technology	23.0%	$3,269,928,432	6
Consumer Cyclical	16.4%	$2,330,695,786	8
Communication Services	10.5%	$1,488,064,050	1
Industrials	9.9%	$1,405,033,544	11
Healthcare	7.5%	$1,064,458,320	4
Basic Materials	3.8%	$535,833,103	3
Consumer Defensive	3.5%	$503,796,192	3

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

2 positions

Ticker	Company	Δ Shares	Shares	Value
AMZN	Amazon Com Inc	+446,600	1,513,200	$315,154,164
MA	Mastercard Inc	+113,250	1,810,441	$904,604,950
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
HDB	Hdfc Bank Ltd	−4,533,342	3,782,384	$94,105,713
TSM	Taiwan Semiconductor Manufacturing Co Ltd	−958,066	5,288,479	$1,787,241,478
CARR	CARRIER GLOBAL Corp	−580,519	6,572,910	$370,120,562
GOOGL	Alphabet Inc.	−572,259	5,174,795	$1,488,064,050
HAYW	Hayward Holdings, Inc.	−492,032	103,168	$1,380,387
TJX	Tjx Companies Inc /De/	−317,984	3,908,310	$624,157,107
JNJ	Johnson & Johnson	−278,997	1,788,670	$437,222,494
TREX	Trex Co Inc	−203,300	19,869	$723,628
OTIS	Otis Worldwide Corp	−186,115	4,493,882	$346,388,424
CPRT	Copart Inc	−167,147	8,350,007	$277,220,232
GGG	Graco Inc	−163,443	3,625,540	$306,901,961
FSS	Federal Signal Corp /De/	−162,298	23,186	$2,507,334
WH	Wyndham Hotels & Resorts, Inc.	−143,500	13,150	$1,068,174
PEP	Pepsico Inc	−140,821	2,385,127	$370,386,371
DCI	DONALDSON Co INC	−125,133	14,228	$1,207,530
EXPO	Exponent Inc	−122,500	16,994	$1,108,858
FND	Floor & Decor Holdings, Inc.	−109,500	21,300	$1,082,040
NKE	NIKE, Inc.	−106,400	1,760,835	$93,007,304
IPAR	Interparfums Inc	−97,151	13,701	$1,244,598
SPGI	S&P Global Inc.	−85,010	532,378	$226,441,658
POWI	Power Integrations Inc	−70,600	8,500	$435,200
JBTM	JBT MAREL Corp	−70,500	12,929	$1,653,231
MSFT	Microsoft Corp	−65,331	2,866,183	$1,060,974,961
HLI	Houlihan Lokey, Inc.	−61,201	13,294	$1,909,284
ADI	Analog Devices Inc	−60,562	824,514	$262,310,883
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
KLAC	Kla Corp	107,040	$157,606,766
SUNB	Sunbelt Rentals Holdings, Inc.	1,472,137	$95,821,397
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
ORCL	Oracle Corp	1,800,309	$350,898,227
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

44 positions · $14,226,918,863 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Reduced	5,288,479	-958,066	$1,787,241,478	−5.8%	12.56%
GOOGL	Alphabet Inc. Communication Services	Reduced	5,174,795	-572,259	$1,488,064,050	−17.3%	10.46%
MSFT	Microsoft Corp Technology	Reduced	2,866,183	-65,331	$1,060,974,961	−25.2%	7.46%
MCO	Moodys Corp /De/ Financial Services	Reduced	2,349,784	-25,984	$1,025,093,270	−15.5%	7.21%
MA	Mastercard Inc Financial Services	Added	1,810,441	+113,250	$904,604,950	−6.6%	6.36%
AZO	Autozone Inc Consumer Cyclical	Reduced	256,845	-12,328	$867,565,904	−5.0%	6.10%
CME	Cme Group Inc. Financial Services	Reduced	2,594,611	-18,828	$766,318,358	+7.4%	5.39%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Reduced	3,908,310	-317,984	$624,157,107	−3.9%	4.39%
SHW	Sherwin Williams Co Basic Materials	Reduced	1,666,393	-52,627	$534,162,276	−4.1%	3.75%
MSCI	MSCI Inc. Financial Services	Reduced	976,774	-24,168	$526,490,953	−8.3%	3.70%
JNJ	Johnson & Johnson Healthcare	Reduced	1,788,670	-278,997	$437,222,494	+2.2%	3.07%
MTD	Mettler Toledo International Inc/ Healthcare	Reduced	322,784	-290	$407,095,180	−9.6%	2.86%
PEP	Pepsico Inc Consumer Defensive	Reduced	2,385,127	-140,821	$370,386,371	+2.2%	2.60%
CARR	CARRIER GLOBAL Corp Industrials	Reduced	6,572,910	-580,519	$370,120,562	−2.1%	2.60%
OTIS	Otis Worldwide Corp Industrials	Reduced	4,493,882	-186,115	$346,388,424	−15.3%	2.43%
AMZN	Amazon Com Inc Consumer Cyclical	Added	1,513,200	+446,600	$315,154,164	+28.0%	2.22%
GGG	Graco Inc Industrials	Reduced	3,625,540	-163,443	$306,901,961	−1.2%	2.16%
CPRT	Copart Inc Industrials	Reduced	8,350,007	-167,147	$277,220,232	−16.9%	1.95%
ADI	Analog Devices Inc Technology	Reduced	824,514	-60,562	$262,310,883	+9.3%	1.84%
SPGI	S&P Global Inc. Financial Services	Reduced	532,378	-85,010	$226,441,658	−29.8%	1.59%
HLT	Hilton Worldwide Holdings Inc. Consumer Cyclical	Reduced	736,734	-56,030	$224,026,074	−1.6%	1.57%
UNH	Unitedhealth Group Inc Healthcare	Reduced	808,873	-16,832	$218,872,945	−19.7%	1.54%
LOW	Lowes Companies Inc Consumer Cyclical	Reduced	866,070	-60,280	$204,635,019	−8.4%	1.44%
KLAC	Kla Corp Technology	NEW	107,040	NEW	$157,606,766	NEW	1.11%
CL	Colgate Palmolive Co Consumer Defensive	Reduced	1,550,689	-39,600	$132,165,223	+5.2%	0.93%
SUNB	Sunbelt Rentals Holdings, Inc. Industrials	NEW	1,472,137	NEW	$95,821,397	NEW	0.67%
HDB	Hdfc Bank Ltd Financial Services	Reduced	3,782,384	-4,533,342	$94,105,713	−69.0%	0.66%
NKE	NIKE, Inc. Consumer Cyclical	Reduced	1,760,835	-106,400	$93,007,304	−21.8%	0.65%
FDS	Factset Research Systems Inc Financial Services	Reduced	387,784	-25,080	$84,145,250	−29.8%	0.59%
FSS	Federal Signal Corp /De/ Industrials	Reduced	23,186	-162,298	$2,507,334	−87.6%	0.02%
HLI	Houlihan Lokey, Inc. Financial Services	Reduced	13,294	-61,201	$1,909,284	−85.3%	0.01%
JBTM	JBT MAREL Corp Industrials	Reduced	12,929	-70,500	$1,653,231	−86.8%	0.01%
HAYW	Hayward Holdings, Inc. Industrials	Reduced	103,168	-492,032	$1,380,387	−85.0%	0.01%
JKHY	Jack Henry & Associates Inc Technology	Reduced	8,600	-51,600	$1,359,144	−87.6%	0.01%
MEDP	Medpace Holdings, Inc. Healthcare	Reduced	2,640	-22,060	$1,267,701	−90.9%	0.01%
IPAR	Interparfums Inc Consumer Defensive	Reduced	13,701	-97,151	$1,244,598	−86.8%	0.01%
DCI	DONALDSON Co INC Industrials	Reduced	14,228	-125,133	$1,207,530	−90.2%	0.01%
EXPO	Exponent Inc Industrials	Reduced	16,994	-122,500	$1,108,858	−88.6%	0.01%
FND	Floor & Decor Holdings, Inc. Consumer Cyclical	Reduced	21,300	-109,500	$1,082,040	−86.4%	0.01%
WDFC	Wd 40 Co Basic Materials	Reduced	5,239	-38,371	$1,068,441	−87.6%	0.01%
WH	Wyndham Hotels & Resorts, Inc. Consumer Cyclical	Reduced	13,150	-143,500	$1,068,174	−91.0%	0.01%
TREX	Trex Co Inc Industrials	Reduced	19,869	-203,300	$723,628	−90.8%	0.01%
SSD	Simpson Manufacturing Co., Inc. Basic Materials	Reduced	3,510	-46,100	$602,386	−92.5%	0.00%
POWI	Power Integrations Inc Technology	Reduced	8,500	-70,600	$435,200	−84.5%	0.00%