SIH Partners, LLLP portfolio

What changed this quarter

365 positions with a change (134 new, 56 added to, 67 trimmed, 108 sold); also, 3 entered through an IPO. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Alibaba Group Holding−69%fewer sharesReduced
  19.0% → 6.1%
• Alphabet+4.2 ppof portfolioIncreased
  0.7% → 6.9%
• Ishares−95%fewer sharesReduced
  4.0% → 0.5%
• UBS Group−97%fewer sharesReduced
  3.7% → 0.2%
• Ferrari−55%fewer sharesReduced
  6.1% → 4.1%
• BHP Group−94%fewer sharesReduced
  3.4% → 0.3%
• iShares China Large-cap ETF−92%fewer sharesReduced
  3.3% → 0.3%
• Kranesh CSI China Internet ETF−99%fewer sharesReduced
  2.9% → under 0.1%
• Stellantis−67%fewer sharesReduced
  4.0% → 1.4%
• Microsoft−90%fewer sharesReduced
  1.5% → 0.2%
• Apple+349%more sharesIncreased
  0.3% → 2.4%
• JD.com−51%fewer sharesReduced
  3.1% → 1.8%

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

• AlphabetGOOG · GOOGL6.9%
• Alibaba Group HoldingBABA6.1%
• SandiskSNDK5.0%
• FerrariRACE4.1%
• Roundhill ETF TrustDRAM3.9%
• NVIDIANVDA3.0%
• AlconALC2.5%
• AppleAAPL2.4%
• Amazon.comAMZN2.3%
• Deutsche Bank AktiengesellschaftDB2.1%
• AmrizeAMRZ2.1%
• Micron TechnologyMU1.8%
• JD.comJD1.8%
• BroadcomAVGO1.7%
• TeslaTSLA1.5%
• StellantisSTLA1.4%
• QualcommQCOM1.4%
• BilibiliBILI1.4%
• Analog DevicesADI1.3%
• Robinhood MarketsHOOD1.3%
• Li AutoLI1.3%
• KLAKLAC1.3%
• CienaCIEN1.2%
• FerrovialFER1.2%
• Applied MaterialsAMAT1.2%
• NeteaseNTES1.1%
• Microchip TechnologyMCHP1.1%
• Lam ResearchLRCX1.1%
• Bitmine Immersion TechnologiesBMNR1.1%
• XpengXPEV1.0%
• BlockXYZ1.0%
• EchoStarECHO0.9%
• GE VernovaGEV0.9%
• ResMedRMD0.9%
• Take-two Interactive SoftwareTTWO0.9%
• Advanced Micro DevicesAMD0.8%
• IsharesEWT0.8%
• CaterpillarCAT0.7%
• AstrazenecaAZN0.7%
• NXP SemiconductorsNXPI0.7%
• Meta PlatformsMETA0.7%
• BaiduBIDU0.7%
• Texas InstrumentsTXN0.7%
• State Street Comm Select Sector SPDR ETFXLC0.6%
• Taiwan Semiconductor ManufacturingTSM0.6%
• Ishares Bitcoin Trust ETFIBIT0.6%
• NokiaNOK0.5%
• Ferguson EnterprisesFERG0.5%
• IsharesEWY0.5%
• ON SemiconductorON0.4%
• TECK ResourcesTECK0.4%
• Vodafone Group PublicVOD0.4%
• ASML HoldingASML0.4%
• Martin Marietta MaterialsMLM0.4%
• MaxLinearMXL0.4%
• iShares 1-3 Year Treasury BO ETFSHY0.4%
• iShares Core S&P Midcap ETFIJH0.4%
• SemtechSMTC0.3%
• IRENIREN0.3%
• Trip.com GroupTCOM0.3%
• GDS HoldingsGDS0.3%
• Life360LIF0.3%
• Nebius GroupNBIS0.3%
• SK TelecomSKM0.3%
• iShares China Large-cap ETFFXI0.3%
• IntelINTC0.3%
• Elbit SystemsESLT0.3%
• BHP GroupBHP0.3%
• CRH publicCRH0.3%
• Trade DeskTTD0.3%
• ZTO Express (Cayman)ZTO0.3%
• PayPal HoldingsPYPL0.3%
• Ishares TrKSA0.3%
• James Hardie IndustriesJHX0.3%
• Honeywell InternationalHON0.3%
• Remitly GlobalRELY0.2%
• Lumentum HoldingsLITE0.2%
• iShares Msci India ETFINDA0.2%
• OracleORCL0.2%
• Monolithic Power SystemsMPWR0.2%
• TotalEnergiesTTE0.2%
• Agnico Eagle MinesAEM0.2%
• Vaneck ETF TrustGDX0.2%
• RBC BearingsRBC0.2%
• Sony GroupSONY0.2%
• Western DigitalWDC0.2%
• IntuitINTU0.2%
• MicrosoftMSFT0.2%
• MongodbMDB0.2%
• UBS GroupUBS0.2%
• PDD HoldingsPDD0.2%
• Logitech InternationalLOGI0.2%
• KKRKKR0.2%
• VicorVICR0.2%
• PinterestPINS0.2%
• Apollo Global ManagementAPO0.2%
• Sable OffshoreSOC0.2%
• Nuscale PowerSMR0.2%
• BPBP0.2%