Cornerstone Investment Partners portfolio

What changed this quarter

345 positions with a change (89 new, 40 added to, 148 trimmed, 68 sold). 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Micron Technology−53%fewer sharesReduced
  4.1% → 5.2%
• Applied Materials−35%fewer sharesReduced
  4.8% → 5.3%
• KLA−27%fewer sharesReduced
  5.1% → 6.1%
• Stryker+1.9 ppof portfolioNew
  — → 1.9%
• Blackstone+1.7 ppof portfolioNew
  — → 1.7%
• Elevance Health−1.4 ppof portfolioSold out
  1.8% → —
• Thermo Fisher Scientific+72%more sharesIncreased
  1.9% → 2.7%
• IQVIA Holdings−33%fewer sharesReduced
  3.1% → 1.9%
• AutoZone+50%more sharesIncreased
  2.2% → 2.4%
• JPMorgan Chase+37%more sharesIncreased
  2.1% → 2.5%
• Fiserv−0.7 ppof portfolioSold out
  0.8% → —
• Berkley W R+27%more sharesIncreased
  2.9% → 3.2%

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

• KLAKLAC6.1%
• Applied MaterialsAMAT5.3%
• AlphabetGOOGL5.2%
• Micron TechnologyMU5.2%
• Taiwan Semiconductor ManufacturingTSM4.9%
• VisaV4.2%
• BroadcomAVGO4.1%
• Amazon.comAMZN3.8%
• Meta PlatformsMETA3.8%
• United RentalsURI3.7%
• Take-two Interactive SoftwareTTWO3.3%
• Berkley W RWRB3.2%
• CencoraCOR2.9%
• Apollo Global ManagementAPO2.7%
• McKESSONMCK2.7%
• Thermo Fisher ScientificTMO2.7%
• ChubbCB2.6%
• JPMorgan ChaseJPM2.5%
• AutoZoneAZO2.4%
• American ExpressAXP2.4%
• Travelers CompaniesTRV2.2%
• MicrosoftMSFT2.2%
• Dollar GeneralDG2.2%
• Vanguard Total Bond Market ETFBND2.1%
• Diamondback EnergyFANG2.1%
• UnitedHealth GroupUNH1.9%
• StrykerSYK1.9%
• CumminsCMI1.9%
• IQVIA HoldingsIQV1.9%
• CBRE GroupCBRE1.7%
• BlackstoneBX1.7%
• Vanguard Short-term Bond ETFBSV0.5%
• State Street SPDR BB 1-3m T-bill ETFBIL0.2%
• MKSMKSI0.1%
• EMCOR GroupEME0.1%
• ACM ResearchACMR0.1%
• iShares National Muni Bond E ETFMUB0.1%
• EvercoreEVR0.1%
• ONTO InnovationONTO0.1%
• APi GroupAPG0.1%
• US Foods HoldingUSFD0.1%
• StoneX GroupSNEXunder 0.1%
• Custom Truck One SourceCTOSunder 0.1%
• CACI InternationalCACIunder 0.1%
• Nexstar Media GroupNXSTunder 0.1%
• Life Time Group HoldingsLTHunder 0.1%
• Element SolutionsESIunder 0.1%
• Walker & DunlopWDunder 0.1%
• SanminaSANMunder 0.1%
• Permian ResourcesPRunder 0.1%
• BrukerBRKRunder 0.1%
• CSXCSXunder 0.1%
• MoelisMCunder 0.1%
• Everus Construction GroupECGunder 0.1%
• StandardAeroSAROunder 0.1%
• Extreme NetworksEXTRunder 0.1%
• Stifel FinancialSFunder 0.1%
• Charles River Laboratories InternationalCRLunder 0.1%
• CSW IndustrialsCSWunder 0.1%
• SezzleSEZLunder 0.1%
• Solstice Advanced MaterialsSOLSunder 0.1%
• Perimeter SolutionsPRMunder 0.1%
• Acadian Asset ManagementAAMIunder 0.1%
• Primoris ServicesPRIMunder 0.1%
• Valmont IndustriesVMIunder 0.1%
• NWPX InfrastructureNWPXunder 0.1%
• Dorman ProductsDORMunder 0.1%
• Texas RoadhouseTXRHunder 0.1%
• TPGTPGunder 0.1%
• Bj’s Wholesale Club HoldingsBJunder 0.1%
• Carlisle CompaniesCSLunder 0.1%
• Kinsale Capital GroupKNSLunder 0.1%
• Ligand PharmaceuticalsLGNDunder 0.1%
• RYAN Specialty HoldingsRYANunder 0.1%
• SterisSTEunder 0.1%
• Mueller Water ProductsMWAunder 0.1%
• GrahamGHMunder 0.1%
• Herc HoldingsHRIunder 0.1%
• Powell IndustriesPOWLunder 0.1%
• Ultra Clean HoldingsUCTTunder 0.1%
• Ichor HoldingsICHRunder 0.1%
• AxogenAXGNunder 0.1%
• Churchill DownsCHDNunder 0.1%
• ChemedCHEunder 0.1%
• AdeiaADEAunder 0.1%
• KnowlesKNunder 0.1%
• TransUnionTRUunder 0.1%
• SharkninjaSNunder 0.1%
• Knife RiverKNFunder 0.1%
• IES HoldingsIESCunder 0.1%
• MaterionMTRNunder 0.1%
• Kulicke and Soffa IndustriesKLICunder 0.1%
• NlightLASRunder 0.1%
• Green Brick PartnersGRBKunder 0.1%
• BackblazeBLZEunder 0.1%
• Affiliated Managers GroupAMGunder 0.1%
• SkywestSKYWunder 0.1%
• Packaging Corp of AmericaPKGunder 0.1%
• AnterixATEXunder 0.1%
• GCM GrosvenorGCMGunder 0.1%