Holocene Advisors portfolio

What changed this quarter

1002 positions with a change (237 new, 265 added to, 249 trimmed, 251 sold); also, 5 entered through an IPO, 5 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).

• Microsoft+283%more sharesIncreased
  1.0% → 3.7%
• NVIDIA−35%fewer sharesReduced
  4.0% → 2.8%
• Apple−1.4 ppof portfolioSold out
  1.5% → —
• Advanced Micro Devices+528%more sharesIncreased
  0.1% → 1.6%
• GE Vernova−69%fewer sharesReduced
  1.4% → 0.6%
• Pepsico−1.3 ppof portfolioSold out
  1.3% → —
• Seagate Technology Holdings−58%fewer sharesReduced
  1.0% → 1.0%
• Mastercard−95%fewer sharesReduced
  1.0% → under 0.1%
• 3m+509%more sharesIncreased
  0.2% → 1.0%
• Nebius Group+0.8 ppof portfolioNew
  — → 0.8%
• KLA+0.7 ppof portfolioNew
  — → 0.7%
• GSK−0.7 ppof portfolioSold out
  0.7% → —

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

• Amazon.comAMZN7.6%
• MicrosoftMSFT3.7%
• TeslaTSLA3.4%
• NVIDIANVDA2.8%
• GE AerospaceGE1.7%
• Advanced Micro DevicesAMD1.6%
• DanaherDHR1.6%
• VisaV1.5%
• Sherwin-williamsSHW1.4%
• Parker-hannifinPH1.2%
• Exxon MobilXOM1.1%
• iShares Semiconductor ETFSOXX1.1%
• AstrazenecaAZN1.1%
• CSXCSX1.0%
• Seagate Technology HoldingsSTX1.0%
• 3mMMM1.0%
• Gilead SciencesGILD0.9%
• Hilton Worldwide HoldingsHLT0.9%
• Steel DynamicsSTLD0.9%
• ChevronCVX0.8%
• Nebius GroupNBIS0.8%
• United RentalsURI0.8%
• Palantir TechnologiesPLTR0.7%
• WatersWAT0.7%
• Intuitive SurgicalISRG0.7%
• KLAKLAC0.7%
• CVS HealthCVS0.7%
• Ferguson EnterprisesFERG0.7%
• AlphabetGOOGL0.7%
• TargetTGT0.7%
• Lockheed MartinLMT0.7%
• Rockwell AutomationROK0.7%
• Edwards LifesciencesEW0.7%
• Capital One FinancialCOF0.6%
• AirbnbABNB0.6%
• Applied MaterialsAMAT0.6%
• Berkshire HathawayBRK/B0.6%
• D.R. HortonDHI0.6%
• Revolution MedicinesRVMD0.6%
• GE VernovaGEV0.6%
• CoupangCPNG0.6%
• iShares Core S&P 500 ETFIVV0.6%
• Dollar GeneralDG0.5%
• FLEXFLEX0.5%
• Goldman Sachs GroupGS0.5%
• Republic ServicesRSG0.5%
• Abbott LaboratoriesABT0.5%
• Wells FargoWFC0.5%
• Morgan StanleyMS0.5%
• Toll BrothersTOL0.5%
• Performance Food GroupPFGC0.5%
• AutoZoneAZO0.5%
• WelltowerWELL0.5%
• GlaukosGKOS0.5%
• Eli LillyLLY0.5%
• ShellSHEL0.5%
• Church & DwightCHD0.5%
• Carpenter TechnologyCRS0.4%
• Alkermes plc.ALKS0.4%
• SandiskSNDK0.4%
• STMicroelectronicsSTM0.4%
• Brinker InternationalEAT0.4%
• XPOXPO0.4%
• United Airlines HoldingsUAL0.4%
• RepligenRGEN0.4%
• MascoMAS0.4%
• EOG ResourcesEOG0.4%
• HumanaHUM0.4%
• RB GlobalRBA0.4%
• NovartisNVS0.4%
• WalmartWMT0.4%
• Ross StoresROST0.4%
• Qnity ElectronicsQ0.4%
• ETSYETSY0.3%
• ChubbCB0.3%
• Texas RoadhouseTXRH0.3%
• Williams CompaniesWMB0.3%
• US Foods HoldingUSFD0.3%
• CitigroupC0.3%
• TD SynnexSNX0.3%
• Lam ResearchLRCX0.3%
• Anheuser-Busch InBevBUD0.3%
• Knight-Swift Transportation HoldingsKNX0.3%
• BaiduBIDU0.3%
• Costco WholesaleCOST0.3%
• EquinixEQIX0.3%
• LPL Financial HoldingsLPLA0.3%
• Viking HoldingsVIK0.3%
• Philip Morris InternationalPM0.3%
• VerisignVRSN0.3%
• FOXFOXA0.3%
• MaplebearCART0.3%
• KrogerKR0.3%
• Air Products and ChemicalsAPD0.3%
• Coinbase GlobalCOIN0.3%
• Camden Property TrustCPT0.3%
• SnowflakeSNOW0.3%
• TeleflexTFX0.3%
• Valero EnergyVLO0.3%
• Credo Technology Group HoldingCRDO0.3%