# Lee Ainslie — Maverick Capital Portfolio USD 11,080,522,000 · 177 positions · 2026 Q2 · history from 2014 Q1. Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/mc ## Positions (2026 Q2) | Ticker | Company | % of portfolio | Value | This quarter | Holders | |---|---|---:|---:|---|---:| | NVDA | NVIDIA Corp. | 5.5% | USD 611,632,000 | -3.72% | | | AMD | Advanced Micro Devices | 5.1% | USD 567,158,000 | +44.3% | | | ALAB | Astera Labs Inc | 4.7% | USD 515,486,000 | +11.71% | | | INTC | Intel Corp. | 4.6% | USD 512,282,000 | +22.48% | | | GOOG | Alphabet Inc. CL C | 4.6% | USD 509,544,000 | +65.25% | | | AMZN | Amazon.com Inc. | 4.4% | USD 481,660,000 | -12.82% | | | NU | Nu Holdings Ltd | 4.3% | USD 474,976,000 | +58.4% | | | META | Meta Platforms Inc. | 3.9% | USD 430,377,000 | new | | | GFL | Gfl Environmental Inc Sub Vt | 3.4% | USD 375,279,000 | +165.03% | | | NTRA | Natera Inc. | 3.3% | USD 368,266,000 | +15.79% | | | TSM | Taiwan Semiconductor S.A. | 3.1% | USD 339,914,000 | -42.48% | | | DKS | Dick's Sporting Goods Inc. | 3.0% | USD 334,289,000 | +41.05% | | | MSFT | Microsoft Corp. | 2.8% | USD 310,493,000 | +14.71% | | | RTX | RTX Corp. | 2.7% | USD 294,183,000 | +13.6% | | | COF | Capital One Financial | 2.5% | USD 277,797,000 | +10.91% | | | RGEN | Repligen Corp. | 2.4% | USD 270,773,000 | +30.67% | | | PM | Philip Morris Intl. | 2.4% | USD 263,597,000 | +156.86% | | | V | Visa Inc. | 2.3% | USD 258,090,000 | -6.78% | | | BSX | Boston Scientific | 2.3% | USD 253,415,000 | +41.54% | | | MNST | Monster Beverage Corp. | 2.3% | USD 252,821,000 | +6.71% | | | DPC | Dpc Holdings Plc | 2.3% | USD 251,524,000 | new | | | SNOW | Snowflake Inc. | 2.3% | USD 248,827,000 | new | | | INSM | Insmed Inc. | 2.1% | USD 229,314,000 | new | | | SHW | Sherwin-Williams | 1.8% | USD 197,988,000 | +46.75% | | | CPT | Camden Property Trust | 1.8% | USD 195,466,000 | -8.6% | | | VMC | Vulcan Materials | 1.7% | USD 187,999,000 | new | | | CVNA | Carvana Co. | 1.6% | USD 173,677,000 | +25.57% | | | SWX | Southwest Gas Holdings Inc. | 1.5% | USD 167,566,000 | -11.16% | | | KO | Coca Cola Co. | 1.5% | USD 163,107,000 | +56.23% | | | PFGC | Performance Food Group | 1.3% | USD 140,987,000 | new | | | VOYA | Voya Financial Inc. | 1.1% | USD 119,869,000 | new | | | NAMS | Newamsterdam Pharma Co Nv | 1.0% | USD 110,746,000 | +49.46% | | | TECH | Bio-Techne Corp. | 1.0% | USD 108,491,000 | -67.6% | | | ROIV | Roivant Sciences Ltd | 0.9% | USD 100,119,000 | +73.89% | | | FLR | Fluor Corp. | 0.9% | USD 97,296,000 | +31.2% | | | MANE | Veradermics Inc | 0.9% | USD 97,120,000 | new | | | MIR | Mirion Technologies Inc | 0.9% | USD 94,044,000 | +97.94% | | | PCVX | Vaxcyte Inc. | 0.9% | USD 93,778,000 | +17.09% | | | NVO | Novo Nordisk A S | 0.7% | USD 79,287,000 | -20.49% | | | COMP | Compass Inc. | 0.7% | USD 72,905,000 | +14.31% | | | MMSI | Merit Medical Systems Inc. | 0.6% | USD 67,857,000 | +37.05% | | | BLTE | Belite Bio Inc ADR | 0.6% | USD 61,026,000 | new | | | WVE | Wave Life Sciences Ltd. | 0.5% | USD 59,716,000 | +1.15% | | | QURE | uniQure NV | 0.4% | USD 42,623,000 | +32.64% | | | IVVD | Invivyd Inc. | 0.2% | USD 16,550,000 | hold | | | RCKT | Rocket Pharmaceuticals Inc. | 0.1% | USD 13,420,000 | +10% | | | ABVX | Abivax SA ADR | 0.1% | USD 5,330,000 | new | | | CLS | Celestica Inc | <0.1% | USD 4,669,000 | +10.45% | | | PRGO | Perrigo Co. | <0.1% | USD 4,655,000 | new | | | MICC | Magnum Ice Cream Co NV | <0.1% | USD 4,582,000 | new | | | NVS | Novartis AG | <0.1% | USD 4,355,000 | +82.26% | | | BG | Bunge Global SA | <0.1% | USD 4,271,000 | +66.92% | | | PRMB | Primo Brands Corp | <0.1% | USD 4,086,000 | -25.54% | | | BNS | Bank of Nova Scotia | <0.1% | USD 3,989,000 | +25.39% | | | SEB | Seaboard Corp. | <0.1% | USD 3,853,000 | +16.46% | | | JJSF | J & J Snack Foods | <0.1% | USD 3,717,000 | new | | | TPB | Turning Point Brands Inc. | <0.1% | USD 3,688,000 | +11.99% | | | MO | Altria Group Inc. | <0.1% | USD 3,612,000 | -4.05% | | | COCO | Vita Coco Co Inc | <0.1% | USD 3,417,000 | -32.85% | | | KVUE | Kenvue Inc | <0.1% | USD 3,325,000 | +89.1% | | | GUTS | Fractyl Health Inc | <0.1% | USD 3,158,000 | hold | | | SJM | J.M. Smucker Co | <0.1% | USD 3,120,000 | -7.1% | | | BF.B | Brown-Forman Corp. | <0.1% | USD 3,046,000 | new | | | EPC | Edgewell Personal Care Co. | <0.1% | USD 2,905,000 | -34.55% | | | SPB | Spectrum Brands Holdings Inc. | <0.1% | USD 2,812,000 | -51.65% | | | CNI | Canadian Natl Railway Co. | <0.1% | USD 2,799,000 | +25.08% | | | ELAN | Elanco Animal Health Inc. | <0.1% | USD 2,414,000 | -32.09% | | | PBH | Prestige Consumer Healthcare | <0.1% | USD 2,410,000 | new | | | BTI | British American Tobacco plc | <0.1% | USD 2,265,000 | +4.65% | | | ALC | Alcon Inc. | <0.1% | USD 2,217,000 | +159.47% | | | SNY | Sanofi Aventis | <0.1% | USD 2,200,000 | +109.8% | | | COTY | Coty Inc. | <0.1% | USD 2,171,000 | -20.33% | | | AVGO | Broadcom Inc. | <0.1% | USD 2,166,000 | new | | | KHC | Kraft Heinz Co. | <0.1% | USD 2,157,000 | new | | | UTZ | Utz Brands Inc. | <0.1% | USD 1,952,000 | new | | | ASML | ASML Holding NV | <0.1% | USD 1,950,000 | -99.62% | | | REYN | Reynolds Consumer Products Inc. | <0.1% | USD 1,937,000 | +36.87% | | | MU | Micron Technology Inc. | <0.1% | USD 1,931,000 | new | | | KDP | Keurig Dr Pepper Inc. | <0.1% | USD 1,911,000 | +4.58% | | | TFII | Tfi International Inc | <0.1% | USD 1,885,000 | -3.4% | | | CNQ | Canadian Natural Resources | <0.1% | USD 1,852,000 | +1.74% | | | AMAT | Applied Materials | <0.1% | USD 1,784,000 | -99.72% | | | LRCX | Lam Research | <0.1% | USD 1,769,000 | new | | | KLAC | KLA Corp. | <0.1% | USD 1,689,000 | new | | | BUD | Anheuser-Busch InBev | <0.1% | USD 1,670,000 | -60.27% | | | TSN | Tyson Foods | <0.1% | USD 1,619,000 | new | | | CSCO | Cisco Systems | <0.1% | USD 1,377,000 | new | | | ARM | Arvinmeritor Inc. | <0.1% | USD 1,352,000 | new | | | DB | Deutsche Bank AG | <0.1% | USD 1,314,000 | +63.19% | | | SNDK | SanDisk Corp. | <0.1% | USD 1,307,000 | new | | | GEV | Ge Vernova Inc | <0.1% | USD 1,303,000 | new | | | DELL | Dell Technologies Inc. | <0.1% | USD 1,266,000 | new | | | MRVL | Marvell Technology Inc. | <0.1% | USD 1,259,000 | -97.75% | | | PANW | Palo Alto Networks | <0.1% | USD 1,246,000 | new | | | GLW | Corning Inc. | <0.1% | USD 1,219,000 | -98.73% | | | HSY | Hershey Co. | <0.1% | USD 1,215,000 | -70.3% | | | CAG | Conagra Brands Inc. | <0.1% | USD 1,207,000 | -37.17% | | | WDC | Western Digital Corp. | <0.1% | USD 1,202,000 | new | | | TXN | Texas Instruments | <0.1% | USD 1,170,000 | new | | | STX | Seagate Technology | <0.1% | USD 1,168,000 | new | | | ANET | Arista Networks Inc. | <0.1% | USD 1,153,000 | new | | | SU | Suncor Energy Inc. | <0.1% | USD 1,149,000 | -6.71% | | | CRBU | Caribou Biosciences Inc. | <0.1% | USD 1,148,000 | hold | | | MFC | Manulife Financial Corp. | <0.1% | USD 1,138,000 | +17.68% | | | APH | Amphenol Corp. | <0.1% | USD 1,133,000 | new | | | CRWD | CrowdStrike Holdings Inc. | <0.1% | USD 1,111,000 | new | | | ADI | Analog Devices | <0.1% | USD 1,074,000 | new | | | QCOM | QUALCOMM Inc. | <0.1% | USD 1,024,000 | new | | | TER | Teradyne Inc. | <0.1% | USD 1,017,000 | new | | | CVE | Cenovus Energy Inc. | <0.1% | USD 990,000 | -3.67% | | | ASX | Ase Technology Holding ADR | <0.1% | USD 945,000 | new | | | COHR | Coherent Corp. | <0.1% | USD 914,000 | -66.25% | | | MKSI | MKS Instruments | <0.1% | USD 912,000 | -71.86% | | | LOGI | Logitech International SA | <0.1% | USD 911,000 | +48.47% | | | LITE | Lumentum Holdings Inc. | <0.1% | USD 886,000 | -52.49% | | | ENTG | Entegris Inc. | <0.1% | USD 864,000 | -62.66% | | | FLEX | Flex Ltd. | <0.1% | USD 857,000 | new | | | WPM | Wheaton Precious Metals Corp. | <0.1% | USD 836,000 | +19.05% | | | STM | Stmicroelectronics Nv Ny Shs | <0.1% | USD 825,000 | new | | | MPWR | Monolithic Power Systems | <0.1% | USD 820,000 | new | | | PAAS | Pan American Silver Corp. | <0.1% | USD 818,000 | -44.54% | | | MSI | Motorola Solutions Inc. | <0.1% | USD 814,000 | new | | | HPE | Hewlett Packard Enterprise | <0.1% | USD 803,000 | new | | | KEYS | Keysight Technologies Inc. | <0.1% | USD 801,000 | new | | | Q | Qnity Electronics Inc. | <0.1% | USD 800,000 | new | | | CRDO | Credo Technology Group Holdi | <0.1% | USD 790,000 | new | | | ONTO | Onto Innovation Inc. | <0.1% | USD 785,000 | new | | | UMC | United Microelectronics Corp. | <0.1% | USD 783,000 | new | | | TEL | TE Connectivity plc | <0.1% | USD 776,000 | new | | | AMKR | Amkor Technology Inc. | <0.1% | USD 764,000 | new | | | JBL | Jabil Inc. | <0.1% | USD 756,000 | new | | | ON | ON Semiconductor Corp. | <0.1% | USD 754,000 | new | | | NVMI | Nova Ltd | <0.1% | USD 729,000 | new | | | FORM | FormFactor Inc. | <0.1% | USD 728,000 | new | | | UCTT | Ultra Clean Holdings Inc. | <0.1% | USD 718,000 | -75.21% | | | ALGM | Allegro MicroSystems Inc. | <0.1% | USD 703,000 | -76.09% | | | MXL | MaxLinear Inc. | <0.1% | USD 693,000 | new | | | TSEM | Tower Semiconductor Ltd. | <0.1% | USD 693,000 | new | | | VICR | Vicor Corp. | <0.1% | USD 686,000 | new | | | MTSI | MACOM Technology Solutions Hldg | <0.1% | USD 682,000 | new | | | NTAP | NetApp Inc. | <0.1% | USD 677,000 | new | | | ACMR | ACM Research Inc. | <0.1% | USD 674,000 | new | | | LSCC | Lattice Semconductor | <0.1% | USD 665,000 | new | | | ICHR | Ichor Holdings Ltd | <0.1% | USD 659,000 | -75.95% | | | MCHP | Microchip Technology | <0.1% | USD 657,000 | new | | | GNRC | Generac Holdings Inc. | <0.1% | USD 656,000 | -65.48% | | | FFIV | F5 Networks | <0.1% | USD 653,000 | new | | | SITM | SiTime Corp. | <0.1% | USD 649,000 | new | | | AAOI | Applied Optoelectronics Inc | <0.1% | USD 620,000 | -74.14% | | | SNX | SYNNEX Corp. | <0.1% | USD 619,000 | new | | | SIMO | Silicon Motion Technol ADR | <0.1% | USD 616,000 | -74.94% | | | ESI | Element Solutions Inc. | <0.1% | USD 612,000 | -70.56% | | | MDLZ | Mondelez International | <0.1% | USD 602,000 | new | | | AEIS | Advanced Energy Industries | <0.1% | USD 596,000 | new | | | TTMI | TTM Technologies Inc. | <0.1% | USD 590,000 | new | | | CAMT | Camtek Ltd | <0.1% | USD 589,000 | new | | | SANM | Sanmina Corp. | <0.1% | USD 582,000 | new | | | RMBS | Rambus Inc. | <0.1% | USD 572,000 | -66.93% | | | KGC | Kinross Gold Corp. | <0.1% | USD 556,000 | +17.62% | | | LFUS | Littelfuse Inc. | 0.0% | USD 551,000 | new | | | ARW | Arrow Electronics | 0.0% | USD 540,000 | new | | | TD | Toronto-Dominion Bank | 0.0% | USD 518,000 | +13.08% | | | AVT | Avnet Inc. | 0.0% | USD 513,000 | new | | | LASR | nLight Inc. | 0.0% | USD 510,000 | new | | | SMTC | Semtech Corp. | 0.0% | USD 499,000 | new | | | ACLS | Axcelis Technologies | 0.0% | USD 498,000 | new | | | KLIC | Kulicke & Soffa Ind. | 0.0% | USD 494,000 | new | | | B | Barrick Mining Corp. | 0.0% | USD 491,000 | +21.88% | | | CVLT | CommVault Systems Inc. | 0.0% | USD 474,000 | new | | | EXTR | Extreme Networks Inc. | 0.0% | USD 466,000 | new | | | VECO | Veeco Instruments | 0.0% | USD 465,000 | new | | | DIOD | Diodes Inc. | 0.0% | USD 429,000 | new | | | CLX | Clorox Co. | 0.0% | USD 349,000 | -77.84% | | | SKYT-OLD | Skywater Technology Inc | 0.0% | USD 328,000 | new | | | EL | Estee Lauder Cos. | 0.0% | USD 253,000 | new | | | SLF | Sun Life Financial Inc. | 0.0% | USD 234,000 | new | | | CRIS | Curis Inc. | 0.0% | USD 6,000 | hold | | ## Moves this quarter (173) - NVDA NVIDIA Corp.: -3.72% (USD 611,632,000) - AMD Advanced Micro Devices: +44.3% (USD 567,158,000) - ALAB Astera Labs Inc: +11.71% (USD 515,486,000) - INTC Intel Corp.: +22.48% (USD 512,282,000) - GOOG Alphabet Inc. CL C: +65.25% (USD 509,544,000) - AMZN Amazon.com Inc.: -12.82% (USD 481,660,000) - NU Nu Holdings Ltd: +58.4% (USD 474,976,000) - META Meta Platforms Inc.: new (USD 430,377,000) - GFL Gfl Environmental Inc Sub Vt: +165.03% (USD 375,279,000) - NTRA Natera Inc.: +15.79% (USD 368,266,000) - TSM Taiwan Semiconductor S.A.: -42.48% (USD 339,914,000) - DKS Dick's Sporting Goods Inc.: +41.05% (USD 334,289,000) - MSFT Microsoft Corp.: +14.71% (USD 310,493,000) - RTX RTX Corp.: +13.6% (USD 294,183,000) - COF Capital One Financial: +10.91% (USD 277,797,000) - RGEN Repligen Corp.: +30.67% (USD 270,773,000) - PM Philip Morris Intl.: +156.86% (USD 263,597,000) - V Visa Inc.: -6.78% (USD 258,090,000) - BSX Boston Scientific: +41.54% (USD 253,415,000) - MNST Monster Beverage Corp.: +6.71% (USD 252,821,000) - DPC Dpc Holdings Plc: new (USD 251,524,000) - SNOW Snowflake Inc.: new (USD 248,827,000) - INSM Insmed Inc.: new (USD 229,314,000) - SHW Sherwin-Williams: +46.75% (USD 197,988,000) - CPT Camden Property Trust: -8.6% (USD 195,466,000) - VMC Vulcan Materials: new (USD 187,999,000) - CVNA Carvana Co.: +25.57% (USD 173,677,000) - SWX Southwest Gas Holdings Inc.: -11.16% (USD 167,566,000) - KO Coca Cola Co.: +56.23% (USD 163,107,000) - PFGC Performance Food Group: new (USD 140,987,000) - VOYA Voya Financial Inc.: new (USD 119,869,000) - NAMS Newamsterdam Pharma Co Nv: +49.46% (USD 110,746,000) - TECH Bio-Techne Corp.: -67.6% (USD 108,491,000) - ROIV Roivant Sciences Ltd: +73.89% (USD 100,119,000) - FLR Fluor Corp.: +31.2% (USD 97,296,000) - MANE Veradermics Inc: new (USD 97,120,000) - MIR Mirion Technologies Inc: +97.94% (USD 94,044,000) - PCVX Vaxcyte Inc.: +17.09% (USD 93,778,000) - NVO Novo Nordisk A S: -20.49% (USD 79,287,000) - COMP Compass Inc.: +14.31% (USD 72,905,000) - MMSI Merit Medical Systems Inc.: +37.05% (USD 67,857,000) - BLTE Belite Bio Inc ADR: new (USD 61,026,000) - WVE Wave Life Sciences Ltd.: +1.15% (USD 59,716,000) - QURE uniQure NV: +32.64% (USD 42,623,000) - RCKT Rocket Pharmaceuticals Inc.: +10% (USD 13,420,000) - ABVX Abivax SA ADR: new (USD 5,330,000) - CLS Celestica Inc: +10.45% (USD 4,669,000) - PRGO Perrigo Co.: new (USD 4,655,000) - MICC Magnum Ice Cream Co NV: new (USD 4,582,000) - NVS Novartis AG: +82.26% (USD 4,355,000) - BG Bunge Global SA: +66.92% (USD 4,271,000) - PRMB Primo Brands Corp: -25.54% (USD 4,086,000) - BNS Bank of Nova Scotia: +25.39% (USD 3,989,000) - SEB Seaboard Corp.: +16.46% (USD 3,853,000) - JJSF J & J Snack Foods: new (USD 3,717,000) - TPB Turning Point Brands Inc.: +11.99% (USD 3,688,000) - MO Altria Group Inc.: -4.05% (USD 3,612,000) - COCO Vita Coco Co Inc: -32.85% (USD 3,417,000) - KVUE Kenvue Inc: +89.1% (USD 3,325,000) - SJM J.M. Smucker Co: -7.1% (USD 3,120,000) - BF.B Brown-Forman Corp.: new (USD 3,046,000) - EPC Edgewell Personal Care Co.: -34.55% (USD 2,905,000) - SPB Spectrum Brands Holdings Inc.: -51.65% (USD 2,812,000) - CNI Canadian Natl Railway Co.: +25.08% (USD 2,799,000) - ELAN Elanco Animal Health Inc.: -32.09% (USD 2,414,000) - PBH Prestige Consumer Healthcare: new (USD 2,410,000) - BTI British American Tobacco plc: +4.65% (USD 2,265,000) - ALC Alcon Inc.: +159.47% (USD 2,217,000) - SNY Sanofi Aventis: +109.8% (USD 2,200,000) - COTY Coty Inc.: -20.33% (USD 2,171,000) - AVGO Broadcom Inc.: new (USD 2,166,000) - KHC Kraft Heinz Co.: new (USD 2,157,000) - UTZ Utz Brands Inc.: new (USD 1,952,000) - ASML ASML Holding NV: -99.62% (USD 1,950,000) - REYN Reynolds Consumer Products Inc.: +36.87% (USD 1,937,000) - MU Micron Technology Inc.: new (USD 1,931,000) - KDP Keurig Dr Pepper Inc.: +4.58% (USD 1,911,000) - TFII Tfi International Inc: -3.4% (USD 1,885,000) - CNQ Canadian Natural Resources: +1.74% (USD 1,852,000) - AMAT Applied Materials: -99.72% (USD 1,784,000) - LRCX Lam Research: new (USD 1,769,000) - KLAC KLA Corp.: new (USD 1,689,000) - BUD Anheuser-Busch InBev: -60.27% (USD 1,670,000) - TSN Tyson Foods: new (USD 1,619,000) - CSCO Cisco Systems: new (USD 1,377,000) - ARM Arvinmeritor Inc.: new (USD 1,352,000) - DB Deutsche Bank AG: +63.19% (USD 1,314,000) - SNDK SanDisk Corp.: new (USD 1,307,000) - GEV Ge Vernova Inc: new (USD 1,303,000) - DELL Dell Technologies Inc.: new (USD 1,266,000) - MRVL Marvell Technology Inc.: -97.75% (USD 1,259,000) - PANW Palo Alto Networks: new (USD 1,246,000) - GLW Corning Inc.: -98.73% (USD 1,219,000) - HSY Hershey Co.: -70.3% (USD 1,215,000) - CAG Conagra Brands Inc.: -37.17% (USD 1,207,000) - WDC Western Digital Corp.: new (USD 1,202,000) - TXN Texas Instruments: new (USD 1,170,000) - STX Seagate Technology: new (USD 1,168,000) - ANET Arista Networks Inc.: new (USD 1,153,000) - SU Suncor Energy Inc.: -6.71% (USD 1,149,000) - MFC Manulife Financial Corp.: +17.68% (USD 1,138,000) - APH Amphenol Corp.: new (USD 1,133,000) - CRWD CrowdStrike Holdings Inc.: new (USD 1,111,000) - ADI Analog Devices: new (USD 1,074,000) - QCOM QUALCOMM Inc.: new (USD 1,024,000) - TER Teradyne Inc.: new (USD 1,017,000) - CVE Cenovus Energy Inc.: -3.67% (USD 990,000) - ASX Ase Technology Holding ADR: new (USD 945,000) - COHR Coherent Corp.: -66.25% (USD 914,000) - MKSI MKS Instruments: -71.86% (USD 912,000) - LOGI Logitech International SA: +48.47% (USD 911,000) - LITE Lumentum Holdings Inc.: -52.49% (USD 886,000) - ENTG Entegris Inc.: -62.66% (USD 864,000) - FLEX Flex Ltd.: new (USD 857,000) - WPM Wheaton Precious Metals Corp.: +19.05% (USD 836,000) - STM Stmicroelectronics Nv Ny Shs: new (USD 825,000) - MPWR Monolithic Power Systems: new (USD 820,000) - PAAS Pan American Silver Corp.: -44.54% (USD 818,000) - MSI Motorola Solutions Inc.: new (USD 814,000) - HPE Hewlett Packard Enterprise: new (USD 803,000) - KEYS Keysight Technologies Inc.: new (USD 801,000) - Q Qnity Electronics Inc.: new (USD 800,000) - CRDO Credo Technology Group Holdi: new (USD 790,000) - ONTO Onto Innovation Inc.: new (USD 785,000) - UMC United Microelectronics Corp.: new (USD 783,000) - TEL TE Connectivity plc: new (USD 776,000) - AMKR Amkor Technology Inc.: new (USD 764,000) - JBL Jabil Inc.: new (USD 756,000) - ON ON Semiconductor Corp.: new (USD 754,000) - NVMI Nova Ltd: new (USD 729,000) - FORM FormFactor Inc.: new (USD 728,000) - UCTT Ultra Clean Holdings Inc.: -75.21% (USD 718,000) - ALGM Allegro MicroSystems Inc.: -76.09% (USD 703,000) - MXL MaxLinear Inc.: new (USD 693,000) - TSEM Tower Semiconductor Ltd.: new (USD 693,000) - VICR Vicor Corp.: new (USD 686,000) - MTSI MACOM Technology Solutions Hldg: new (USD 682,000) - NTAP NetApp Inc.: new (USD 677,000) - ACMR ACM Research Inc.: new (USD 674,000) - LSCC Lattice Semconductor: new (USD 665,000) - ICHR Ichor Holdings Ltd: -75.95% (USD 659,000) - MCHP Microchip Technology: new (USD 657,000) - GNRC Generac Holdings Inc.: -65.48% (USD 656,000) - FFIV F5 Networks: new (USD 653,000) - SITM SiTime Corp.: new (USD 649,000) - AAOI Applied Optoelectronics Inc: -74.14% (USD 620,000) - SNX SYNNEX Corp.: new (USD 619,000) - SIMO Silicon Motion Technol ADR: -74.94% (USD 616,000) - ESI Element Solutions Inc.: -70.56% (USD 612,000) - MDLZ Mondelez International: new (USD 602,000) - AEIS Advanced Energy Industries: new (USD 596,000) - TTMI TTM Technologies Inc.: new (USD 590,000) - CAMT Camtek Ltd: new (USD 589,000) - SANM Sanmina Corp.: new (USD 582,000) - RMBS Rambus Inc.: -66.93% (USD 572,000) - KGC Kinross Gold Corp.: +17.62% (USD 556,000) - LFUS Littelfuse Inc.: new (USD 551,000) - ARW Arrow Electronics: new (USD 540,000) - TD Toronto-Dominion Bank: +13.08% (USD 518,000) - AVT Avnet Inc.: new (USD 513,000) - LASR nLight Inc.: new (USD 510,000) - SMTC Semtech Corp.: new (USD 499,000) - ACLS Axcelis Technologies: new (USD 498,000) - KLIC Kulicke & Soffa Ind.: new (USD 494,000) - B Barrick Mining Corp.: +21.88% (USD 491,000) - CVLT CommVault Systems Inc.: new (USD 474,000) - EXTR Extreme Networks Inc.: new (USD 466,000) - VECO Veeco Instruments: new (USD 465,000) - DIOD Diodes Inc.: new (USD 429,000) - CLX Clorox Co.: -77.84% (USD 349,000) - SKYT-OLD Skywater Technology Inc: new (USD 328,000) - EL Estee Lauder Cos.: new (USD 253,000) - SLF Sun Life Financial Inc.: new (USD 234,000) ## Portfolio value by quarter - 2014 Q1: USD 7,117,058,843 (6 positions) - 2014 Q2: USD 6,369,841,010 (4 positions) - 2014 Q3: USD 6,609,931,204 (4 positions) - 2014 Q4: USD 6,379,995,719 (5 positions) - 2015 Q1: USD 6,220,245,181 (13 positions) - 2015 Q2: USD 6,555,199,701 (13 positions) - 2015 Q3: USD 5,838,224,996 (11 positions) - 2015 Q4: USD 6,936,046,264 (12 positions) - 2016 Q1: USD 6,319,240,273 (14 positions) - 2016 Q2: USD 7,364,636,546 (15 positions) - 2016 Q3: USD 8,387,744,777 (14 positions) - 2016 Q4: USD 7,694,066,524 (14 positions) - 2017 Q1: USD 7,825,483,374 (16 positions) - 2017 Q2: USD 7,971,082,795 (18 positions) - 2017 Q3: USD 7,882,180,113 (15 positions) - 2017 Q4: USD 7,924,919,462 (19 positions) - 2018 Q1: USD 7,747,467,029 (19 positions) - 2018 Q2: USD 8,547,512,368 (22 positions) - 2018 Q3: USD 8,033,208,681 (24 positions) - 2018 Q4: USD 6,810,994,435 (28 positions) - 2019 Q1: USD 7,546,346,678 (26 positions) - 2019 Q2: USD 6,906,212,234 (37 positions) - 2019 Q3: USD 6,794,156,681 (33 positions) - 2019 Q4: USD 6,877,256,400 (33 positions) - 2020 Q1: USD 4,744,180,324 (41 positions) - 2020 Q2: USD 4,752,259,404 (51 positions) - 2020 Q3: USD 5,380,476,421 (47 positions) - 2020 Q4: USD 6,256,928,681 (53 positions) - 2021 Q1: USD 10,664,859,535 (63 positions) - 2021 Q2: USD 10,622,068,017 (62 positions) - 2021 Q3: USD 9,071,444,876 (56 positions) - 2021 Q4: USD 8,283,335,569 (31 positions) - 2022 Q1: USD 5,581,947,360 (36 positions) - 2022 Q2: USD 3,991,881,072 (34 positions) - 2022 Q3: USD 4,429,861,663 (53 positions) - 2022 Q4: USD 4,103,370,291 (46 positions) - 2023 Q1: USD 3,889,930,824 (53 positions) - 2023 Q2: USD 4,683,388,377 (51 positions) - 2023 Q3: USD 4,272,064,747 (43 positions) - 2023 Q4: USD 4,849,561,430 (52 positions) - 2024 Q1: USD 5,155,656,901 (53 positions) - 2024 Q2: USD 5,272,770,284 (45 positions) - 2024 Q3: USD 5,127,485,686 (40 positions) - 2024 Q4: USD 5,550,351,145 (41 positions) - 2025 Q1: USD 5,553,658,108 (46 positions) - 2025 Q2: USD 6,516,941,659 (36 positions) - 2025 Q3: USD 7,472,961,283 (52 positions) - 2025 Q4: USD 9,314,600,345 (56 positions) - 2026 Q1: USD 8,597,645,214 (93 positions) - 2026 Q2: USD 11,080,522,000 (177 positions)