Sapient Capital portfolio

What changed this quarter

224 positions with a change (21 new, 78 added to, 99 trimmed, 26 sold); also, 1 entered through an IPO. 1 is listed here: those of 0.5 points of the portfolio or more (up to 12).

• Steel Dynamics+65%more sharesIncreased
  1.3% → 2.2%

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

• Eli LillyLLY23.0%
• EA Series TrustSQS18.7%
• AppleAAPL5.2%
• AppLovinAPP4.0%
• AlphabetGOOGL · GOOG3.5%
• MicrosoftMSFT3.2%
• Steel DynamicsSTLD2.2%
• BroadcomAVGO2.2%
• Taiwan Semiconductor ManufacturingTSM2.0%
• JPMorgan ChaseJPM1.6%
• NVIDIANVDA1.4%
• Amazon.comAMZN1.4%
• Vistra OperationsVST1.3%
• Meta PlatformsMETA1.2%
• GE VernovaGEV1.0%
• State Str Spdr S&P 500 ETF TSPY0.9%
• Micron TechnologyMU0.9%
• Costco WholesaleCOST0.9%
• Bank of AmericaBAC0.8%
• Invesco Exchange Traded Fund TRSP0.8%
• AbbVieABBV0.7%
• Booking HoldingsBKNG0.7%
• Palo Alto NetworksPANW0.6%
• ChevronCVX0.6%
• SPDR Gold Shares ETFGLD0.6%
• Berkshire HathawayBRK/B · BRK/A0.5%
• Vanguard Dividend Apprec ETFVIG0.5%
• WalmartWMT0.5%
• Morgan StanleyMS0.5%
• Philip Morris InternationalPM0.4%
• BWX TechnologiesBWXT0.4%
• Churchill DownsCHDN0.4%
• MastercardMA0.4%
• Vanguard Index FundsVTI0.4%
• Johnson & JohnsonJNJ0.4%
• Vanguard Mrngstr Val ETF-aui ETFVTV0.3%
• Gilead SciencesGILD0.3%
• Vanguard Mrngstar GR ETF-sui ETFVUG0.3%
• M&t BankMTB0.3%
• Vanguard S&P 500 ETFVOO0.3%
• Coca-ColaKO0.3%
• Simon Property GroupSPG0.3%
• Ascendis Pharma A/SASND0.3%
• WorkdayWDAY0.3%
• Marriott InternationalMAR0.3%
• Vertiv HoldingsVRT0.3%
• ShellSHEL0.3%
• O Reilly AutomotiveORLY0.3%
• iShares Core S&P Small-cap E ETFIJR0.3%
• DeereDE0.2%
• iShares Core S&P 500 ETFIVV0.2%
• Union PacificUNP0.2%
• Expedia GroupEXPE0.2%
• Vanguard Index FundsVO0.2%
• Texas Pacific LandTPL0.2%
• KeyCorpKEY0.2%
• EOG ResourcesEOG0.2%
• Waste ManagementWM0.2%
• TJXTJX0.2%
• ASML HoldingASML0.2%
• Goldman Sachs GroupGS0.2%
• Valero EnergyVLO0.2%
• iShares Russell 1000 Growth ETFIWF0.2%
• Wells FargoWFC0.2%
• GE AerospaceGE0.2%
• iShares Gold Trust ETFIAU0.2%
• Palantir TechnologiesPLTR0.2%
• NetflixNFLX0.2%
• Kinder MorganKMI0.2%
• Fifth Third BancorpFITB0.2%
• Procter & GamblePG0.2%
• CrowdStrike HoldingsCRWD0.2%
• Royal GoldRGLD0.2%
• SK hynixSKHY0.1%
• Fidelity High Dividend ETFFDVV0.1%
• VisaV0.1%
• Genuine PartsGPC0.1%
• Invesco QQQ Trust Series 1 ETFQQQ0.1%
• Martin Marietta MaterialsMLM0.1%
• Sprott Asset ManagementCEF0.1%
• Vanguard Most Sm-cap ETF-usd ETFVB0.1%
• Vertex PharmaceuticalsVRTX0.1%
• CaterpillarCAT0.1%
• Uranium EnergyUEC0.1%
• ServiceNowNOW0.1%
• Monolithic Power SystemsMPWR0.1%
• Exxon MobilXOM0.1%
• ArganAGX0.1%
• Ishares Bitcoin Trust ETFIBIT0.1%
• Freeport-McMoRanFCX0.1%
• RTXRTX0.1%
• iShares S&P 500 Growth ETFIVW0.1%
• IsharesIEMG0.1%
• United RentalsURI0.1%
• Quest DiagnosticsDGX0.1%
• Pure CyclePCYO0.1%
• TeslaTSLA0.1%
• iShares Core S&P U.s. Value ETFIUSV0.1%