Winton Group portfolio

What changed this quarter

1522 positions with a change (483 new, 299 added to, 319 trimmed, 421 sold); also, 7 entered through an IPO, 15 exited through an acquisition or merger, 1 entered through a spin-off. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Ishares Tr+2.5 ppof portfolioNew
  — → 2.5%
• Vanguard Int-term Corporate ETF+1.6 ppof portfolioNew
  — → 1.6%
• KLA+1,597%more sharesIncreased
  under 0.1% → 1.3%
• GE Vernova−69%fewer sharesReduced
  1.3% → 0.5%
• CrowdStrike Holdings+0.9 ppof portfolioNew
  — → 0.9%
• Public Storage+0.9 ppof portfolioNew
  — → 0.9%
• Netflix−98%fewer sharesReduced
  1.2% → under 0.1%
• Carvana+0.7 ppof portfolioNew
  — → 0.7%
• Electronic Arts−0.7 ppof portfolioSold out
  0.7% → —
• Mueller Industries+0.7 ppof portfolioNew
  — → 0.7%
• Booking Holdings−45%fewer sharesReduced
  1.3% → 0.7%
• Old Dominion Freight Line−0.5 ppof portfolioSold out
  0.6% → —

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

• Berkshire HathawayBRK/A · BRK/B5.8%
• Ishares TrLQD2.5%
• Vanguard Int-term Corporate ETFVCIT1.6%
• Invesco Senior Loan ETFBKLN1.4%
• Solstice Advanced MaterialsSOLS1.4%
• KLAKLAC1.3%
• MascoMAS1.0%
• CME GroupCME0.9%
• CSXCSX0.9%
• IncyteINCY0.9%
• EntegrisENTG0.9%
• CrowdStrike HoldingsCRWD0.9%
• Public StoragePSA0.9%
• AESAES0.9%
• Powell IndustriesPOWL0.9%
• CarvanaCVNA0.7%
• Ishares Bitcoin Trust ETFIBIT0.7%
• Stifel FinancialSF0.7%
• Booking HoldingsBKNG0.7%
• Mueller IndustriesMLI0.7%
• MSC Industrial DirectMSM0.6%
• Everus Construction GroupECG0.6%
• NVIDIANVDA0.5%
• Wells FargoWFC0.5%
• Amazon.comAMZN0.5%
• Western DigitalWDC0.5%
• BroadcomAVGO0.5%
• VisaV0.5%
• AlphabetGOOGL0.5%
• GE VernovaGEV0.5%
• Valero EnergyVLO0.5%
• Meta PlatformsMETA0.5%
• SLBSLB0.5%
• KrogerKR0.5%
• CienaCIEN0.5%
• Take-two Interactive SoftwareTTWO0.5%
• MercadoLibreMELI0.5%
• GXO LogisticsGXO0.5%
• MedlineMDLN0.5%
• Automatic Data ProcessingADP0.5%
• Spotify TechnologySPOT0.5%
• CamecoCCJ0.5%
• Thermo Fisher ScientificTMO0.5%
• HumanaHUM0.5%
• Caesars EntertainmentCZR0.5%
• SandiskSNDK0.5%
• UBER TechnologiesUBER0.4%
• Ultra Clean HoldingsUCTT0.4%
• HalliburtonHAL0.4%
• DoorDashDASH0.4%
• ServiceNowNOW0.4%
• McDONALD’SMCD0.4%
• Goldman Sachs GroupGS0.4%
• CoherentCOHR0.4%
• DICK'S Sporting GoodsDKS0.4%
• WalmartWMT0.4%
• TransDigm GroupTDG0.4%
• Silicon LaboratoriesSLAB0.4%
• State Street Comm Select Sector SPDR ETFXLC0.4%
• CitigroupC0.4%
• GE Healthcare TechnologiesGEHC0.4%
• American International GroupAIG0.4%
• JabilJBL0.4%
• State Street Energy Select Sector ETFXLE0.4%
• Fidelity Wise Origin BitcoinFBTC0.4%
• Cardinal HealthCAH0.3%
• Vertiv HoldingsVRT0.3%
• EPAM SystemsEPAM0.3%
• Merit Medical SystemsMMSI0.3%
• Core Natural ResourcesCNR0.3%
• BrightSpring Health ServicesBTSG0.3%
• StrykerSYK0.3%
• TrexTREX0.3%
• StoneX GroupSNEX0.3%
• Tower SemiconductorTSEM0.3%
• Digital Realty TrustDLR0.3%
• Dollar TreeDLTR0.3%
• Piper Sandler CompaniesPIPR0.3%
• Bloom EnergyBE0.3%
• Howmet AerospaceHWM0.3%
• Marathon PetroleumMPC0.3%
• DexcomDXCM0.3%
• ShopifySHOP0.3%
• Catalyst Pharmaceuticals0.3%
• Phillips 66PSX0.3%
• Sirius XM HoldingsSIRI0.3%
• TeslaTSLA0.3%
• VersigentVGNT0.3%
• Hut 8HUT0.3%
• Seagate Technology HoldingsSTX0.3%
• Acadia HealthcareACHC0.2%
• Viking HoldingsVIK0.2%
• RalliantRAL0.2%
• Performance Food GroupPFGC0.2%
• Pinnacle Financial PartnersPNFP0.2%
• Arista NetworksANET0.2%
• ProgynyPGNY0.2%
• LegenceLGN0.2%
• Lyondellbasell IndustriesLYB0.2%