Lombard Odier Asset Management (Europe) portfolio

What changed this quarter

164 positions with a change (31 new, 45 added to, 63 trimmed, 25 sold); also, 2 entered through an IPO. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Owens Corning+1.6 ppof portfolioNew
  — → 1.6%
• Advanced Micro Devices−65%fewer sharesReduced
  1.5% → 1.3%
• Tesla+467%more sharesIncreased
  0.3% → 1.4%
• eBay+216%more sharesIncreased
  0.5% → 1.7%
• Bank of Amer+1.0 ppof portfolioNew
  — → 1.0%
• Alphabet−16%fewer sharesReduced
  5.8% → 5.3%
• Amazon.com+57%more sharesIncreased
  1.7% → 2.6%
• Steel Dynamics−51%fewer sharesReduced
  1.6% → 0.9%
• O Reilly Automotive+161%more sharesIncreased
  0.7% → 1.5%
• Wheaton Precious Metals−78%fewer sharesReduced
  1.5% → 0.2%
• Monolithic Power Systems−68%fewer sharesReduced
  1.2% → 0.4%
• Sunbelt Rentals Holdings+0.8 ppof portfolioNew
  — → 0.8%

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

• AlphabetGOOGL7.6%
• NVIDIANVDA6.6%
• Amazon.comAMZN2.6%
• Micron TechnologyMU2.2%
• Waste ManagementWM1.9%
• Nexxen InternationalNEXN1.7%
• eBayEBAY1.7%
• Eli LillyLLY1.6%
• Owens CorningOC1.6%
• MerckMRK1.6%
• Crown HoldingsCCK1.5%
• Rockwell AutomationROK1.5%
• BroadcomAVGO1.5%
• Palo Alto NetworksPANW1.5%
• Johnson & JohnsonJNJ1.5%
• O Reilly AutomotiveORLY1.5%
• Nextera EnergyNEE1.5%
• Republic ServicesRSG1.4%
• EcolabECL1.4%
• TeslaTSLA1.4%
• CSXCSX1.4%
• Thermo Fisher ScientificTMO1.3%
• S&P GlobalSPGI1.3%
• Advanced Micro DevicesAMD1.3%
• Cadence Design SystemsCDNS1.3%
• ServiceNowNOW1.3%
• Zebra TechnologiesZBRA1.2%
• Manulife FinancialMFC1.2%
• QXOQXO1.1%
• United RentalsURI1.1%
• MSCIMSCI1.1%
• Applied MaterialsAMAT1.1%
• UBER TechnologiesUBER1.1%
• NextpowerNXT1.1%
• EatonETN1.0%
• PriceSmartPSMT1.0%
• Marsh & Mclennan CompaniesMRSH1.0%
• Bank of Amer(preferred)1.0%
• DeereDE1.0%
• Booking HoldingsBKNG1.0%
• AppleAAPL1.0%
• PultegroupPHM1.0%
• Advanced Drainage SystemsWMS0.9%
• Steel DynamicsSTLD0.9%
• MicrosoftMSFT0.9%
• Verisk AnalyticsVRSK0.9%
• Spotify TechnologySPOT0.9%
• CamecoCCJ0.8%
• Sunbelt Rentals HoldingsSUNB0.8%
• IQVIA HoldingsIQV0.8%
• AutodeskADSK0.8%
• Enphase EnergyENPH0.8%
• Nu HoldingsNU0.8%
• MedtronicMDT0.8%
• VeraltoVLTO0.7%
• TJXTJX0.7%
• Intercontinental ExchangeICE0.7%
• Carpenter TechnologyCRS0.7%
• Sprouts Farmers MarketSFM0.7%
• Canadian Pacific Kansas CityCP0.7%
• On HoldingONON0.6%
• Boeing(preferred)0.6%
• CortevaCTVA0.6%
• DatadogDDOG0.6%
• Colgate-palmoliveCL0.6%
• Birkenstock HoldingBIRK0.6%
• Albemarle(preferred)0.5%
• FLEXFLEX0.5%
• SalesforceCRM0.5%
• XylemXYL0.5%
• MercadoLibreMELI0.5%
• Darling IngredientsDAR0.4%
• Monolithic Power SystemsMPWR0.4%
• Chipotle Mexican GrillCMG0.4%
• Agilent TechnologiesA0.4%
• AirbnbABNB0.3%
• American Water WorksAWK0.3%
• Quanta ServicesPWR0.3%
• WeyerhaeuserWY0.3%
• Clean HarborsCLH0.3%
• Smurfit WestrockSW0.3%
• RollinsROL0.3%
• AecomACM0.3%
• Regeneron PharmaceuticalsREGN0.3%
• HPHPQ0.3%
• GrouponGRPN0.3%
• AlcoaAA0.3%
• XPELXPEL0.2%
• PTCPTC0.2%
• Wheaton Precious MetalsWPM0.2%
• Capital One FinancialCOF0.2%
• APi GroupAPG0.2%
• ON SemiconductorON0.2%
• FTAI AviationFTAI0.2%
• SandiskSNDK0.2%
• CopartCPRT0.2%
• Goldman Sachs GroupGS0.2%
• AccentureACN0.2%