# PineStone Asset Management Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1904893. Source: https://holderbook.com/funds/1904893-pinestone-asset-management-inc/

- Reported value: $16.2B
- Positions: 44
- Weight of the ten largest: 63.1%
- Filed: 2026-07-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $2.4B | 4,959,994 | 14.6% | 15 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.6B | 4,607,821 | 10.2% | 15 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $1.0B | 2,283,961 | 6.4% | 15 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $964.9M | 2,586,687 | 6.0% | 15 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $940.9M | 1,832,012 | 5.8% | 15 |
| AUTOZONE INC | [AZO](https://holderbook.com/stocks/AZO/) | $780.6M | 244,260 | 4.8% | 15 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $662.3M | 2,778,800 | 4.1% | 3 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $654.6M | 2,169,700 | 4.0% | 2 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $600.5M | 2,719,347 | 3.7% | 15 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $568.8M | 3,754,345 | 3.5% | 15 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $538.7M | 1,564,628 | 3.3% | 15 |
| MSCI INC | [MSCI](https://holderbook.com/stocks/MSCI/) | $528.4M | 943,550 | 3.3% | 15 |
| CARRIER GLOBAL CORPORATION | [CARR](https://holderbook.com/stocks/CARR/) | $464.6M | 6,333,408 | 2.9% | 15 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $440.3M | 1,733,844 | 2.7% | 15 |
| METTLER TOLEDO INTERNATIONAL | [MTD](https://holderbook.com/stocks/MTD/) | $416.6M | 326,120 | 2.6% | 15 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $399.5M | 769,783 | 2.5% | 1 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $351.1M | 883,993 | 2.2% | 15 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $335.6M | 807,522 | 2.1% | 15 |
| OTIS WORLDWIDE CORP | [OTIS](https://holderbook.com/stocks/OTIS/) | $307.2M | 4,290,454 | 1.9% | 15 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $295.5M | 2,182,458 | 1.8% | 15 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $269.3M | 661,225 | 1.7% | 14 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $265.1M | 799,293 | 1.6% | 1 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $242.6M | 2,034,355 | 1.5% | 1 |
| GRACO INC | [GGG](https://holderbook.com/stocks/GGG/) | $240.9M | 3,185,789 | 1.5% | 15 |
| COPART INC | [CPRT](https://holderbook.com/stocks/CPRT/) | $223.1M | 7,913,707 | 1.4% | 8 |
| HILTON WORLDWIDE HLDGS INC | [HLT](https://holderbook.com/stocks/HLT/) | $218.3M | 660,714 | 1.3% | 9 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $170.0M | 770,942 | 1.0% | 15 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $134.1M | 1,462,799 | 0.8% | 15 |
| HDFC BANK LTD | [HDB](https://holderbook.com/stocks/HDB/) | $113.1M | 4,379,846 | 0.7% | 15 |
| FEDERAL SIGNAL CORP | [FSS](https://holderbook.com/stocks/FSS/) | $2.1M | 15,986 | 0.0% | 9 |
| JBT MAREL CORPORATION | [JBTM](https://holderbook.com/stocks/JBTM/) | $1.2M | 8,229 | 0.0% | 12 |
| HOULIHAN LOKEY INC | [HLI](https://holderbook.com/stocks/HLI/) | $1.2M | 8,794 | 0.0% | 9 |
| HAYWARD HLDGS INC | [HAYW](https://holderbook.com/stocks/HAYW/) | $1.1M | 65,568 | 0.0% | 5 |
| INTER PARFUMS INC | [IPAR](https://holderbook.com/stocks/IPAR/) | $1.1M | 9,701 | 0.0% | 12 |
| MEDPACE HLDGS INC | [MEDP](https://holderbook.com/stocks/MEDP/) | $932.1K | 1,760 | 0.0% | 12 |
| HENRY JACK & ASSOC INC | [JKHY](https://holderbook.com/stocks/JKHY/) | $895.3K | 6,500 | 0.0% | 6 |
| FLOOR & DECOR HLDGS INC | [FND](https://holderbook.com/stocks/FND/) | $848.8K | 14,300 | 0.0% | 12 |
| WD 40 CO | [WDFC](https://holderbook.com/stocks/WDFC/) | $837.9K | 3,439 | 0.0% | 12 |
| DONALDSON INC | [DCI](https://holderbook.com/stocks/DCI/) | $747.6K | 8,328 | 0.0% | 12 |
| EXPONENT INC | [EXPO](https://holderbook.com/stocks/EXPO/) | $693.0K | 11,794 | 0.0% | 12 |
| STEVANATO GROUP S P A | [STVN](https://holderbook.com/stocks/STVN/) | $689.1K | 38,135 | 0.0% | 1 |
| TREX INC | [TREX](https://holderbook.com/stocks/TREX/) | $603.9K | 12,069 | 0.0% | 12 |
| WYNDHAM HOTELS & RESORTS INC | [WH](https://holderbook.com/stocks/WH/) | $560.0K | 6,650 | 0.0% | 12 |
| SIMPSON MFG INC | [SSD](https://holderbook.com/stocks/SSD/) | $420.8K | 2,010 | 0.0% | 12 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +9.5% | +14.8% | -5.3% | 100% |
| Q1 2026 | -5.2% | -4.6% | -0.6% | 100% |
| Q4 2025 | +0.7% | +2.4% | -1.6% | 100% |
| Q3 2025 | +7.8% | +7.8% | -0.1% | 100% |
| Q2 2025 | +7.6% | +10.5% | -2.8% | 100% |
| Q1 2025 | -3.0% | -4.6% | +1.6% | 100% |
| Q4 2024 | -1.1% | +2.1% | -3.3% | 100% |
| Q3 2024 | +7.3% | +5.4% | +1.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $16.2B | 44 |
| Q1 2026 | $14.2B | 44 |
| Q4 2025 | $16.1B | 43 |
| Q3 2025 | $16.1B | 43 |
| Q2 2025 | $15.5B | 44 |
| Q1 2025 | $13.2B | 45 |
| Q4 2024 | $10.7B | 45 |
| Q3 2024 | $10.4B | 44 |
| Q2 2024 | $9.4B | 43 |
| Q1 2024 | $6.3B | 44 |
| Q4 2023 | $9.3B | 44 |
| Q3 2023 | $6.9B | 44 |