PA
PineStone Asset Management Inc. 13F Holdings & Position Changes (Q3 2026)
PineStone Asset Management Inc.CIK: 0001904893
Momentum followerDiversified strategyQuality / disciplined sizing
Total reported value
$15.4B
Reporting period: 2026-09-30 · Number of holdings: 43
PineStone Asset Management Inc. disclosed 43 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $15.4B and a quarterly turnover rate of 13.7%.
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Personality snowflake
- Concentration
- 23.64
- Portfolio Stability
- 13.75
- Momentum
- 100
- Sector conviction
- 54.83
- Diversification
- 86
- Sizing Uniformity
- 87.44
PineStone Asset Management Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.059 — mathematically equivalent to about 17 equally-sized positions, well below its 43 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.26), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MSFT
-5.8% $285.3M
Trim KLAC
+11.5% -$183.2M
Trim TSM
-6.6% -$255.2M
New buy AVGO
Add CME
-4.0% $83.3M
Trim CARR
-3.2% -$128.3M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 13.76% | -0.87% | -6.62% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 9.64% | -0.53% | -6.67% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 8.14% | +2.18% | -5.77% | |
| 4 | MCO | Moody's CORP | Stock-Financials | 6.56% | +0.17% | -2.82% | |
| 5 | MA | Mastercard Inc - A | Stock-Financials | 6.42% | +0.61% | -2.36% | |
| 6 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 4.72% | +0.63% | +4.71% | |
| 7 | CME | Cme Group Inc | Stock-Financials | 4.45% | +0.74% | -4.02% | |
| 8 | AZO | Autozone Inc | Stock-Consumer Disc | 4.37% | -0.45% | -2.88% | |
| 9 | SHW | Sherwin-williams Co/the | Stock-Materials | 3.21% | -0.12% | -2.54% | |
| 10 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 3.15% | -0.36% | -2.56% | |
| 11 | MSCI | Msci Inc | Stock-Financials | 3.13% | -0.13% | -5.56% | |
| 12 | MTD | Mettler-toledo International | Stock-Healthcare | 3.12% | +0.55% | -2.70% | |
| 13 | KLAC | Kla CORP | Stock-Tech | 3.07% | -0.97% | +11.46% | |
| 14 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.82% | +0.10% | -5.60% | |
| 15 | LIN | Linde plc | Stock-Materials | 2.51% | +0.04% | +5.33% | |
| 16 | ADI | Analog Devices Inc | Stock-Tech | 2.27% | +0.10% | -0.58% | |
| 17 | CARR | Carrier Global CORP | Stock-Industrials | 2.19% | -0.68% | -3.23% | |
| 18 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 1.98% | -0.09% | +2.58% | |
| 19 | PEP | Pepsico Inc | Stock-Consumer Staples | 1.74% | -0.09% | -3.26% | |
| 20 | OTIS | Otis Worldwide CORP | Stock-Industrials | 1.69% | -0.21% | -5.72% | |
| 21 | SPGI | S&p Global Inc | Stock-Financials | 1.63% | -0.03% | -4.23% | |
| 22 | GGG | Graco Inc | Stock-Industrials | 1.54% | +0.05% | -3.50% | |
| 23 | CNI | Canadian Natl Railway Co | Stock-Industrials | 1.48% | -0.02% | -5.88% | |
| 24 | AON | Aon plc | Stock-Financials | 1.33% | -0.31% | -8.02% | |
| 25 | HLT | Hilton Worldwide Holdings In | Stock-Consumer Disc | 1.26% | -0.09% | -8.04% | |
| 26 | CPRT | Copart Inc | Stock-Industrials | 1.07% | -0.31% | -23.86% | |
| 27 | AVGO | Broadcom Inc | Stock-Tech | 0.83% | +0.83% | NEW | |
| 28 | CL | Colgate-palmolive Co | Stock-Consumer Staples | 0.76% | -0.07% | -6.43% | |
| 29 | HDB | Hdfc Bank Ltd-adr | Stock-Financials | 0.71% | +0.01% | +11.39% | |
| 30 | LOW | Lowe's Cos Inc | Stock-Consumer Disc | 0.37% | -0.68% | -60.23% | |
| 31 | FSS | Federal Signal CORP | Stock-Industrials | 0.01% | — | -3.75% | |
| 32 | HLI | Houlihan Lokey Inc | Stock-Financials | 0.01% | — | +15.92% | |
| 33 | HAYW | Hayward Holdings Inc | Stock-Other | 0.01% | — | +17.23% | |
| 34 | JBTM | Jbt Marel CORP | Stock-Industrials | 0.01% | — | +7.29% | |
| 35 | JKHY | Jack Henry & Associates Inc | Stock-Tech | 0.01% | — | — | |
| 36 | MEDP | Medpace Holdings Inc | Stock-Healthcare | 0.01% | — | -15.91% | |
| 37 | STVN | Stevanato Group S.p.A. | Stock-Other | 0.01% | +0.01% | +8.39% | |
| 38 | IPAR | Interparfums Inc | Stock-Other | 0.01% | — | -21.65% | |
| 39 | EXPO | Exponent Inc | Stock-Industrials | 0.01% | — | — | |
| 40 | DCI | Donaldson Co Inc | Stock-Industrials | — | — | — | |
| 41 | WDFC | Wd-40 Co | Stock-Materials | — | -0.01% | -11.63% | |
| 42 | TREX | Trex Company Inc | Stock-Industrials | — | — | -6.63% | |
| 43 | SSD | Simpson Manufacturing Co Inc | Stock-Materials | — | — | -9.95% |
Portfolio Performance
Performance for Q4 2026
+1.8%
Performance Last 4 Quarters
+6.9%
- Stdev
- +12.2%
- Beta
- +0.91
- Alpha
- -2.9%
- Max Drawdown
- -7.8%
- Annualized Perf
- +17.9%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.67
- Stutzer
- +0.41
- Treynor
- +0.19
- Sterling
- +1.07
- Calmar
- +2.29
- Information Ratio
- -0.96
- Tracking Error
- +5.1%
- Stdev Down
- +6.5%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +31.9%
- Worst 12 Months
- +5.1%
- Efficiency Ratio
- +0.58
- Sharpe
- +1.42
- Stdev Sectors
- +8.5%
- Skewness
- -0.17
- Kurtosis
- +0.78
- Upside Potential
- +4.15
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 43 | $15.4B | 14 | ||
| 2026 Q2 | 44 | $16.2B | 0 | ||
| 2026 Q1 | 44 | $14.2B | 18 | ||
| 2025 Q4 | 43 | $16.1B | 14 | ||
| 2025 Q3 | 43 | $16.1B | 25 | ||
| 2025 Q2 | 44 | $15.5B | 0 | ||
| 2025 Q1 | 45 | $13.2B | 0 | ||
| 2024 Q4 | 45 | $10.7B | 0 | ||
| 2024 Q3 | 44 | $10.4B | 0 | ||
| 2024 Q2 | 43 | $9.4B | 0 | ||
| 2024 Q1 | 44 | $6.3B | 0 | ||
| 2023 Q4 | 44 | $9.3B | 0 | ||
| 2023 Q3 | 44 | $6.9B | 0 | ||
| 2023 Q2 | 28 | $2.1B | 0 | ||
| 2023 Q1 | 26 | $3.8B | 0 | ||
| 2022 Q4 | 27 | $532.8M | 0 |
Holding changes this quarter
PineStone Asset Management Inc.'s most significant position changes for 2026-09-30: New buy: Broadcom Inc (AVGO); Sold out: Floor & Decor Holdings Inc-a (FND); Sold out: Wyndham Hotels & Resorts Inc (WH); Trim: Microsoft CORP (MSFT) — shares -5.77%; Add: Kla CORP (KLAC) — shares +11.46%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +2.2% | -5.77% | Trim |
| 2 | AVGO | Broadcom Inc | +0.8% | NEW | New buy |
| 3 | CME | Cme Group Inc | +0.7% | -4.02% | Trim |
| 4 | AMZN | Amazon.com Inc | +0.6% | +4.71% | Add |
| 5 | MA | Mastercard Inc - A | +0.6% | -2.36% | Trim |
| 6 | MTD | Mettler-toledo International | +0.6% | -2.70% | Trim |
| 7 | MCO | Moody's CORP | +0.2% | -2.82% | Trim |
| 8 | JNJ | Johnson & Johnson | +0.1% | -5.60% | Trim |
| 9 | ADI | Analog Devices Inc | +0.1% | -0.58% | Trim |
| 10 | GGG | Graco Inc | +0.1% | -3.50% | Trim |
| 11 | LIN | Linde plc | 0% | +5.33% | Add |
| 12 | HDB | Hdfc Bank Ltd-adr | 0% | +11.39% | Add |
| 13 | STVN | Stevanato Group S.p.A. | 0% | +8.39% | Add |
| 14 | WH | Wyndham Hotels & Resorts Inc | — | EXIT | Sold out |
| 15 | FSS | Federal Signal CORP | — | -3.75% | Trim |
| 16 | JBTM | Jbt Marel CORP | — | +7.29% | Add |
| 17 | IPAR | Interparfums Inc | — | -21.65% | Trim |
| 18 | HAYW | Hayward Holdings Inc | — | +17.23% | Add |
| 19 | TREX | Trex Company Inc | — | -6.63% | Trim |
| 20 | SSD | Simpson Manufacturing Co Inc | — | -9.95% | Trim |
| 21 | HLI | Houlihan Lokey Inc | — | +15.92% | Add |
| 22 | EXPO | Exponent Inc | — | — | Unchanged |
| 23 | JKHY | Jack Henry & Associates Inc | — | — | Unchanged |
| 24 | DCI | Donaldson Co Inc | — | — | Unchanged |
| 25 | MEDP | Medpace Holdings Inc | — | -15.91% | Trim |
| 26 | FND | Floor & Decor Holdings Inc-a | 0% | EXIT | Sold out |
| 27 | WDFC | Wd-40 Co | 0% | -11.63% | Trim |
| 28 | CNI | Canadian Natl Railway Co | 0% | -5.88% | Trim |
| 29 | SPGI | S&p Global Inc | 0% | -4.23% | Trim |
| 30 | CL | Colgate-palmolive Co | -0.1% | -6.43% | Trim |
| 31 | UNH | Unitedhealth Group Inc | -0.1% | +2.58% | Add |
| 32 | PEP | Pepsico Inc | -0.1% | -3.26% | Trim |
| 33 | HLT | Hilton Worldwide Holdings In | -0.1% | -8.04% | Trim |
| 34 | SHW | Sherwin-williams Co/the | -0.1% | -2.54% | Trim |
| 35 | MSCI | Msci Inc | -0.1% | -5.56% | Trim |
| 36 | OTIS | Otis Worldwide CORP | -0.2% | -5.72% | Trim |
| 37 | AON | Aon plc | -0.3% | -8.02% | Trim |
| 38 | CPRT | Copart Inc | -0.3% | -23.86% | Trim |
| 39 | TJX | Tjx Companies Inc | -0.4% | -2.56% | Trim |
| 40 | AZO | Autozone Inc | -0.5% | -2.88% | Trim |
| 41 | GOOGL | Alphabet Inc-cl A | -0.5% | -6.67% | Trim |
| 42 | CARR | Carrier Global CORP | -0.7% | -3.23% | Trim |
| 43 | LOW | Lowe's Cos Inc | -0.7% | -60.23% | Trim |
| 44 | TSM | Taiwan Semiconductor-sp Adr | -0.9% | -6.62% | Trim |
| 45 | KLAC | Kla CORP | -1% | +11.46% | Add |
Filing History
FAQ
What is PineStone Asset Management Inc. and what type of investor is it?
PineStone Asset Management Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $15.4B, spread across 43 disclosed positions.
What are PineStone Asset Management Inc.'s largest equity positions?
Based on the latest 13F filing, PineStone Asset Management Inc.'s top holdings by market value are:
1. Taiwan Semiconductor-sp Adr (TSM) — $2.1B (13.8%)
2. Alphabet Inc-cl A (GOOGL) — $1.5B (9.6%)
3. Microsoft CORP (MSFT) — $1.3B (8.1%)
4. Moody's CORP (MCO) — $1.0B (6.6%)
5. Mastercard Inc - A (MA) — $986.5M (6.4%)
What changes did PineStone Asset Management Inc. make in its most recent portfolio filing?
In the latest reported quarter, PineStone Asset Management Inc. made 42 notable position adjustments: 1 new positions were initiated, 9 existing holdings were added to, 30 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Broadcom Inc (AVGO); Sold out: Floor & Decor Holdings Inc-a (FND); Sold out: Wyndham Hotels & Resorts Inc (WH); Trim: Microsoft CORP (MSFT) — shares -5.77%; Add: Kla CORP (KLAC) — shares +11.46%
What sectors does PineStone Asset Management Inc. focus on?
PineStone Asset Management Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 28.1%
• Financials: 24.2%
• Consumer Discretionary: 13.9%
• Communication Services: 9.6%
• Industrials: 8.0%
• Health Care: 7.9%
Investment Profile
PineStone Asset Management Inc. returned an annualized 17.9% over the trailing 36 months — underperforming the S&P 500 by 2.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.91 (roughly in line with the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its AMZN position over the past two quarters (+$409.8M, now $724.9M), while trimming AZO over the same stretch (-$196.2M, still holding $671.3M).
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Developer Access
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