Todd Asset Management portfolio

What changed this quarter

148 positions with a change (12 new, 68 added to, 51 trimmed, 17 sold). 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Micron Technology−1.3 ppof portfolioSold out
  1.3% → —
• HCA Healthcare−99.5%fewer sharesReduced
  1.1% → under 0.1%
• Microsoft+956%more sharesIncreased
  0.1% → 1.2%
• Salesforce+1.0 ppof portfolioNew
  — → 1.0%
• Dell Technologies−32%fewer sharesReduced
  2.4% → 2.1%
• Freeport-McMoRan+0.7 ppof portfolioNew
  — → 0.7%
• Amgen−96%fewer sharesReduced
  0.7% → under 0.1%
• Royalty Pharma+0.6 ppof portfolioNew
  — → 0.6%
• Sempra−0.6 ppof portfolioSold out
  0.6% → —
• NetApp−0.6 ppof portfolioSold out
  0.6% → —
• NVIDIA+690%more sharesIncreased
  0.1% → 0.7%
• Viatris+0.5 ppof portfolioNew
  — → 0.5%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Teva Pharmaceutical-spTEVA2.5%
• ChubbCB2.2%
• Dell TechnologiesDELL2.1%
• TotalEnergiesTTE2.0%
• Taiwan Semiconductor ManufacturingTSM1.9%
• ShellSHEL1.9%
• NXP SemiconductorsNXPI1.9%
• AlphabetGOOGL1.7%
• Citizens Financial GroupCFG1.7%
• Bank of New York MellonBNY1.6%
• AbbVieABBV1.5%
• RIO TintoRIO1.5%
• JPMorgan ChaseJPM1.4%
• BroadcomAVGO1.4%
• Mitsubishi UFJ Financial GroupMUFG1.4%
• KLAKLAC1.4%
• AerCap HoldingsAER1.4%
• ING GroepING1.3%
• Morgan StanleyMS1.3%
• VALEVALE1.3%
• Cisco SystemsCSCO1.3%
• Banco SantanderSAN1.3%
• OrixIX1.3%
• Itau Unibanco HoldingITUB1.2%
• MedtronicMDT1.2%
• United RentalsURI1.2%
• JabilJBL1.2%
• MicrosoftMSFT1.2%
• KrogerKR1.2%
• Gilead SciencesGILD1.1%
• TechnipFMCFTI1.1%
• TD SynnexSNX1.1%
• Petrobras - Petroleo BrasileiroPBR1.1%
• BarclaysBCS1.1%
• KB Financial GroupKB1.1%
• SalesforceCRM1.0%
• NatWest GroupNWG1.0%
• Marathon PetroleumMPC1.0%
• Altria GroupMO1.0%
• Oneok1.0%
• Yum China HoldingsYUMC1.0%
• Fifth Third BancorpFITB1.0%
• Manulife FinancialMFC1.0%
• Sun Life FinancialSLF0.9%
• Crown HoldingsCCK0.9%
• First SolarFSLR0.9%
• Bank of AmericaBAC0.9%
• BorgwarnerBWA0.9%
• CumminsCMI0.9%
• IncyteINCY0.9%
• Ameriprise FinancialAMP0.9%
• Jacobs SolutionsJ0.8%
• NovartisNVS0.8%
• Verizon CommunicationsVZ0.8%
• QualcommQCOM0.8%
• Archer-Daniels-MidlandADM0.8%
• Gen DigitalGEN0.8%
• TextronTXT0.8%
• International Business MachinesIBM0.7%
• American ExpressAXP0.7%
• NeteaseNTES0.7%
• Freeport-McMoRanFCX0.7%
• Valero EnergyVLO0.7%
• Fresenius Medical CareFMS0.7%
• Booking HoldingsBKNG0.7%
• ZTO Express (Cayman)ZTO0.7%
• McKESSONMCK0.7%
• TapestryTPR0.7%
• NVIDIANVDA0.7%
• British American Tobacco p.l.c.BTI0.7%
• Vipshop HoldingsVIPS0.6%
• Royalty PharmaRPRX0.6%
• Alibaba Group HoldingBABA0.6%
• Cognizant Technology SolutionsCTSH0.6%
• NewmontNEM0.6%
• Parker-hannifinPH0.6%
• Best BuyBBY0.6%
• GE Healthcare TechnologiesGEHC0.6%
• InvescoIVZ0.6%
• ViatrisVTRS0.5%
• Smith & NephewSNN0.5%
• SanofiSNY0.5%
• State StreetSTT0.5%
• Huntington Ingalls IndustriesHII0.5%
• General MotorsGM0.5%
• Digital Realty TrustDLR0.5%
• Tractor SupplyTSCO0.5%
• PDD HoldingsPDD0.5%
• American International GroupAIG0.5%
• Wells FargoWFC0.5%
• Akamai TechnologiesAKAM0.5%
• SyscoSYY0.5%
• Synchrony FinancialSYF0.5%
• CitigroupC0.5%
• M&t BankMTB0.4%
• Globe LifeGL0.4%
• BALLBALL0.4%
• CRH publicCRH0.4%
• CloroxCLX0.4%
• InsuletPODD0.4%