Douglass Winthrop Advisors portfolio

What changed this quarter

202 positions with a change (19 new, 81 added to, 85 trimmed, 17 sold); also, 1 entered through a spin-off. 5 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Roper Technologies−95%fewer sharesReduced
  1.3% → 0.1%
• Taiwan Semiconductor Manufacturing+258%more sharesIncreased
  0.3% → 1.5%
• American Tower−77%fewer sharesReduced
  1.6% → 0.3%
• Nike−99%fewer sharesReduced
  1.2% → under 0.1%
• Nestle−42%fewer sharesReduced
  1.6% → 0.9%

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

• AlphabetGOOG · GOOGL10.7%
• Berkshire HathawayBRK/B · BRK/A9.2%
• Amazon.comAMZN5.1%
• MicrosoftMSFT5.0%
• AppleAAPL3.6%
• DeereDE3.5%
• MastercardMA3.5%
• Costco WholesaleCOST3.0%
• UBER TechnologiesUBER2.8%
• Markel GroupMKL2.7%
• FastenalFAST2.6%
• TransDigm GroupTDG2.4%
• AonAON2.3%
• Monster BeverageMNST2.2%
• Martin Marietta MaterialsMLM2.2%
• Sherwin-williamsSHW2.2%
• Compagnie Financiere RichemontCFRUY2.1%
• S&P GlobalSPGI2.0%
• LindeLIN1.9%
• Canadian National RailwayCNI1.9%
• FerrariRACE1.9%
• Texas Pacific LandTPL1.8%
• NetflixNFLX1.8%
• Brookfield Asset ManagementBAM1.6%
• London Stock Exchange GroupLSEGY1.6%
• Taiwan Semiconductor ManufacturingTSM1.5%
• Mettler-Toledo InternationalMTD1.5%
• NestleNSRGY0.9%
• American ExpressAXP0.8%
• Procter & GamblePG0.7%
• MerckMRK0.6%
• CopartCPRT0.6%
• Trane TechnologiesTT0.5%
• Eli LillyLLY0.5%
• Johnson & JohnsonJNJ0.5%
• NVIDIANVDA0.4%
• JPMorgan ChaseJPM0.4%
• ASML HoldingASML0.3%
• VisaV0.3%
• American TowerAMT0.3%
• DoverDOV0.3%
• Exxon MobilXOM0.3%
• AbbVieABBV0.3%
• State Str Spdr S&P 500 ETF TSPY0.2%
• Thermo Fisher ScientificTMO0.2%
• Schneider ElecSBGSY0.2%
• Coca-ColaKO0.2%
• Union PacificUNP0.2%
• DanaherDHR0.2%
• TJXTJX0.2%
• WalmartWMT0.2%
• Waste ManagementWM0.2%
• Home DepotHD0.2%
• United RentalsURI0.2%
• CaterpillarCAT0.2%
• MercadoLibreMELI0.2%
• Automatic Data ProcessingADP0.2%
• Vanguard S&P 500 ETFVOO0.1%
• McDONALD’SMCD0.1%
• Airbus SE UnsponsoredEADSY0.1%
• BroadcomAVGO0.1%
• Moody'sMCO0.1%
• SynopsysSNPS0.1%
• L'OrealLRLCY0.1%
• Meta PlatformsMETA0.1%
• Carrier GlobalCARR0.1%
• CorningGLW0.1%
• Constellation EnergyCEG0.1%
• PepsicoPEP0.1%
• International Business MachinesIBM0.1%
• Vanguard Tax-exempt Bond ETFVTEB0.1%
• WabtecWAB0.1%
• ChevronCVX0.1%
• CoupangCPNG0.1%
• Norfolk SouthernNSC0.1%
• TeslaTSLA0.1%
• Advanced Micro DevicesAMD0.1%
• Abbott LaboratoriesABT0.1%
• Arthur J. GallagherAJG0.1%
• Goldman Sachs GroupGS0.1%
• Brown FormanBF/B0.1%
• Bank of New York MellonBNY0.1%
• Verisk AnalyticsVRSK0.1%
• CintasCTAS0.1%
• iShares Msci Eafe ETFEFA0.1%
• VinciVCISY0.1%
• Invesco Nasdaq 100 ETFQQQM0.1%
• Nextera EnergyNEE0.1%
• Roper TechnologiesROP0.1%
• BALLBALL0.1%
• AmphenolAPH0.1%
• AccentureACN0.1%
• Cigna GroupCI0.1%
• AmgenAMGN0.1%
• Central SecsCET0.1%
• Philip Morris InternationalPM0.1%
• Ingersoll RandIR0.1%
• Core & MainCNM0.1%