Liontrust Investment Partners LLP portfolio

What changed this quarter

221 positions with a change (45 new, 58 added to, 71 trimmed, 47 sold); also, 1 entered through an IPO, 1 exited through an acquisition or merger. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Deutsche Bank Aktiengesellschaft+3.0 ppof portfolioNew
  — → 3.0%
• Deutsche Bank−2.6 ppof portfolioSold out
  3.0% → —
• Totalenergies−1.3 ppof portfolioSold out
  1.5% → —
• TotalEnergies+1.1 ppof portfolioNew
  — → 1.1%
• Shopify+412%more sharesIncreased
  0.3% → 1.3%
• Nebius Group+1.0 ppof portfolioNew
  — → 1.0%
• ARM Holdings−71%fewer sharesReduced
  0.9% → 0.5%
• Sprouts Farmers Market+0.8 ppof portfolioNew
  — → 0.8%
• Thermo Fisher Scientific+39%more sharesIncreased
  2.2% → 2.7%
• Nebius−0.7 ppof portfolioSold out
  0.8% → —
• Apple+94%more sharesIncreased
  0.7% → 1.3%
• Amazon.com+98%more sharesIncreased
  0.6% → 1.2%

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

• AstrazenecaAZN4.4%
• Taiwan Semiconductor ManufacturingTSM3.9%
• AlphabetGOOGL3.8%
• BroadcomAVGO3.6%
• Deutsche Bank AktiengesellschaftDB3.0%
• Thermo Fisher ScientificTMO2.7%
• VisaV2.4%
• Cadence Design SystemsCDNS2.2%
• West Pharmaceutical ServicesWST2.1%
• WatersWAT2.0%
• NVIDIANVDA1.9%
• UBS GroupUBS1.8%
• Charles SchwabSCHW1.8%
• MastercardMA1.8%
• Spotify TechnologySPOT1.8%
• VeraltoVLTO1.7%
• Intuitive SurgicalISRG1.7%
• Idexx LaboratoriesIDXX1.7%
• CintasCTAS1.7%
• LindeLIN1.6%
• Edwards LifesciencesEW1.6%
• Monolithic Power SystemsMPWR1.5%
• Becton, DickinsonBDX1.5%
• ExelonEXC1.4%
• ProgressivePGR1.4%
• EcolabECL1.4%
• Ingersoll RandIR1.4%
• NasdaqNDAQ1.4%
• AlconALC1.4%
• AppleAAPL1.3%
• ShopifySHOP1.3%
• VerisignVRSN1.3%
• Advanced Drainage SystemsWMS1.3%
• NVRNVR1.3%
• Palo Alto NetworksPANW1.3%
• Core & MainCNM1.2%
• Ferguson EnterprisesFERG1.2%
• Amazon.comAMZN1.2%
• American TowerAMT1.1%
• TotalEnergiesTTE1.1%
• TopBuildBLD1.1%
• CAVA GroupCAVA1.1%
• AutodeskADSK1.0%
• Nebius GroupNBIS1.0%
• ZscalerZS0.8%
• ServiceTitanTTAN0.8%
• Meta PlatformsMETA0.8%
• Sprouts Farmers MarketSFM0.8%
• Sunbelt Rentals HoldingsSUNB0.7%
• Eli LillyLLY0.7%
• Wise GroupWSE0.7%
• AmphenolAPH0.6%
• MicrosoftMSFT0.6%
• eBayEBAY0.5%
• ARM HoldingsARM0.5%
• HeicoHEI0.4%
• Micron TechnologyMU0.4%
• Seagate Technology HoldingsSTX0.4%
• Verisk AnalyticsVRSK0.4%
• Costco WholesaleCOST0.4%
• Texas InstrumentsTXN0.4%
• CrowdStrike HoldingsCRWD0.4%
• WalmartWMT0.4%
• Morgan StanleyMS0.4%
• TJXTJX0.4%
• Alibaba Group HoldingBABA0.3%
• Applied MaterialsAMAT0.3%
• CredicorpBAP0.3%
• Ermenegildo ZegnaZGN0.3%
• DanaherDHR0.3%
• FerrariRACE0.2%
• RelianceRS0.2%
• UBER TechnologiesUBER0.2%
• Astera LabsALAB0.2%
• United RentalsURI0.2%
• SnowflakeSNOW0.2%
• MercadoLibreMELI0.2%
• JPMorgan ChaseJPM0.2%
• Vertex PharmaceuticalsVRTX0.2%
• MaplebearCART0.2%
• Freeport-McMoRanFCX0.2%
• Nu HoldingsNU0.2%
• OmnicellOMCL0.2%
• IQVIA HoldingsIQV0.2%
• Expedia GroupEXPE0.2%
• Carrier GlobalCARR0.2%
• Palantir TechnologiesPLTR0.2%
• Brookfield Asset ManagementBAM0.2%
• NewmontNEM0.2%
• Hesai GroupHSAI0.2%
• CaterpillarCAT0.1%
• Goldman Sachs GroupGS0.1%
• Apollo Global ManagementAPO0.1%
• EatonETN0.1%
• CloudflareNET0.1%
• AirbnbABNB0.1%
• Lam ResearchLRCX0.1%
• Firefly AerospaceFLY0.1%
• ServiceNowNOW0.1%
• Barrick MiningB0.1%