Q3 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| INTU | Sell | Intuit | $410,959,261 | -12.7% | 804,320 | -21.7% | 10.29% | +24.7% |
| ANSS | Sell | Ansys | $336,961,688 | -29.5% | 1,132,454 | -21.7% | 8.44% | +0.8% |
| MA | Sell | Mastercard | $313,050,392 | -21.2% | 790,711 | -21.7% | 7.84% | +12.6% |
| WDAY | Sell | Workday | $310,560,304 | -25.6% | 1,445,475 | -21.7% | 7.78% | +6.4% |
| TW | Sell | Tradeweb | $257,741,547 | -19.0% | 3,213,735 | -30.8% | 6.46% | +15.8% |
| TYL | Sell | Tyler | $255,055,896 | -31.7% | 660,527 | -26.4% | 6.39% | -2.4% |
| VEEV | Sell | Veeva | $228,182,603 | -19.8% | 1,121,566 | -22.0% | 5.72% | +14.7% |
| CSGP | Sell | Costar | $227,264,081 | -34.7% | 2,955,704 | -24.4% | 5.69% | -6.6% |
| PTC | Sell | PTC | $209,931,223 | -25.9% | 1,481,728 | -25.6% | 5.26% | +5.9% |
| SNPS | Sell | Synopsys | $208,268,653 | -21.7% | 453,774 | -25.7% | 5.22% | +11.9% |
| EW | Sell | Edwards | $199,256,069 | -42.2% | 2,876,098 | -21.3% | 4.99% | -17.3% |
| MKTX | Sell | MarketAxess | $170,261,680 | -36.0% | 796,956 | -21.7% | 4.26% | -8.6% |
| ICE | Sell | ICE | $158,050,881 | -23.8% | 1,436,565 | -21.7% | 3.96% | +8.9% |
| MTD | Buy | Mettler-Toledo | $143,788,704 | +21.6% | 129,765 | +43.9% | 3.60% | +73.8% |
| MSCI | Buy | MSCI | $141,752,716 | +9.4% | 276,278 | +0.1% | 3.55% | +56.4% |
| DXCM | Sell | Dexcom | $138,432,476 | -43.2% | 1,483,735 | -21.7% | 3.47% | -18.8% |
| TECH | Sell | BioTechne | $121,591,603 | -34.7% | 1,786,273 | -21.7% | 3.05% | -6.7% |
| ILMN | Sell | Illumina | $115,520,845 | -42.7% | 841,498 | -21.7% | 2.89% | -18.1% |
| PODD | Buy | Insulet | $45,794,683 | +5.8% | 287,132 | +91.3% | 1.15% | +51.3% |
| RMD | Exit | ResMed | $0 | – | -1,508,014 | – | -5.77% | – |
Q2 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ANSS | New | Ansys | $477,886,158 | – | 1,446,956 | – | 8.37% | – |
| INTU | New | Intuit | $470,866,743 | – | 1,027,667 | – | 8.25% | – |
| WDAY | New | Workday | $417,200,307 | – | 1,846,918 | – | 7.31% | – |
| MA | New | Mastercard | $397,265,251 | – | 1,010,082 | – | 6.96% | – |
| TYL | New | Tyler | $373,540,689 | – | 896,921 | – | 6.54% | – |
| CSGP | New | Costar | $347,809,063 | – | 3,907,967 | – | 6.10% | – |
| EW | New | Edwards | $344,584,943 | – | 3,652,973 | – | 6.04% | – |
| RMD | New | ResMed | $329,501,059 | – | 1,508,014 | – | 5.77% | – |
| TW | New | Tradeweb | $318,209,372 | – | 4,646,749 | – | 5.58% | – |
| VEEV | New | Veeva | $284,345,033 | – | 1,438,047 | – | 4.98% | – |
| PTC | New | PTC | $283,322,715 | – | 1,991,024 | – | 4.96% | – |
| MKTX | New | MarketAxess | $266,156,930 | – | 1,018,120 | – | 4.66% | – |
| SNPS | New | Synopsys | $266,027,237 | – | 610,981 | – | 4.66% | – |
| DXCM | New | Dexcom | $243,635,169 | – | 1,895,846 | – | 4.27% | – |
| ICE | New | ICE | $207,515,935 | – | 1,835,125 | – | 3.64% | – |
| ILMN | New | Illumina | $201,589,248 | – | 1,075,200 | – | 3.53% | – |
| TECH | New | BioTechne | $186,288,150 | – | 2,282,104 | – | 3.26% | – |
| MSCI | New | MSCI | $129,578,478 | – | 276,116 | – | 2.27% | – |
| MTD | New | Mettler-Toledo | $118,253,527 | – | 90,157 | – | 2.07% | – |
| PODD | New | Insulet | $43,279,257 | – | 150,098 | – | 0.76% | – |
Q4 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| APPF | Exit | AppFolio | $0 | – | -269,954 | – | -0.55% | – |
| PODD | Exit | Insulet | $0 | – | -164,461 | – | -0.73% | – |
| MTD | Exit | Mettler-Toledo | $0 | – | -88,349 | – | -1.85% | – |
| MRVI | Exit | Maravai | $0 | – | -4,089,326 | – | -2.02% | – |
| PYPL | Exit | PayPal | $0 | – | -1,593,884 | – | -2.65% | – |
| VEEV | Exit | Veeva | $0 | – | -998,182 | – | -3.18% | – |
| DXCM | Exit | Dexcom | $0 | – | -2,076,444 | – | -3.23% | – |
| TECH | Exit | Bio-Techne | $0 | – | -610,466 | – | -3.35% | – |
| ABMD | Exit | Abiomed | $0 | – | -731,590 | – | -3.48% | – |
| SNPS | Exit | Synopsys | $0 | – | -669,473 | – | -3.95% | – |
| ILMN | Exit | Illumina | $0 | – | -1,081,500 | – | -3.99% | – |
| ICE | Exit | ICE | $0 | – | -2,340,301 | – | -4.09% | – |
| PTC | Exit | PTC | $0 | – | -2,315,431 | – | -4.68% | – |
| WDAY | Exit | Workday | $0 | – | -1,907,056 | – | -5.61% | – |
| MKTX | Exit | MarketAxess | $0 | – | -1,305,743 | – | -5.62% | – |
| ANSS | Exit | Ansys | $0 | – | -1,344,186 | – | -5.76% | – |
| TW | Exit | Tradeweb | $0 | – | -5,513,757 | – | -6.01% | – |
| TYL | Exit | Tyler | $0 | – | -912,284 | – | -6.13% | – |
| RMD | Exit | ResMed | $0 | – | -1,486,259 | – | -6.27% | – |
| MA | Exit | Mastercard | $0 | – | -1,153,830 | – | -6.34% | – |
| CSGP | Exit | Costar | $0 | – | -4,733,931 | – | -6.37% | – |
| EW | Exit | Edwards | $0 | – | -4,186,939 | – | -6.69% | – |
| INTU | Exit | Intuit | $0 | – | -992,954 | – | -7.44% | – |
Q3 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| INTU | Sell | Intuit | $384,591,000 | -15.8% | 992,954 | -16.2% | 7.44% | -5.2% |
| EW | Sell | Edwards | $345,967,000 | -19.1% | 4,186,939 | -6.9% | 6.69% | -8.9% |
| CSGP | Sell | Costar | $329,718,000 | +7.3% | 4,733,931 | -6.9% | 6.37% | +20.8% |
| MA | Sell | Mastercard | $328,080,000 | -25.6% | 1,153,830 | -17.5% | 6.34% | -16.3% |
| RMD | Sell | ResMed | $324,450,000 | -3.4% | 1,486,259 | -7.2% | 6.27% | +8.7% |
| TYL | Sell | Tyler | $317,019,000 | -3.4% | 912,284 | -7.6% | 6.13% | +8.7% |
| TW | Sell | Tradeweb | $311,086,000 | -23.0% | 5,513,757 | -6.9% | 6.01% | -13.4% |
| ANSS | Sell | Ansys | $298,006,000 | -13.9% | 1,344,186 | -7.0% | 5.76% | -3.1% |
| MKTX | Sell | MarketAxess | $290,515,000 | -19.8% | 1,305,743 | -7.7% | 5.62% | -9.7% |
| WDAY | Sell | Workday | $290,292,000 | +1.4% | 1,907,056 | -7.0% | 5.61% | +14.1% |
| PTC | Sell | PTC | $242,194,000 | -8.4% | 2,315,431 | -6.9% | 4.68% | +3.1% |
| ICE | Sell | ICE | $211,446,000 | -10.5% | 2,340,301 | -6.9% | 4.09% | +0.7% |
| ILMN | Sell | Illumina | $206,339,000 | -3.6% | 1,081,500 | -6.9% | 3.99% | +8.4% |
| SNPS | Sell | Synopsys | $204,531,000 | -6.3% | 669,473 | -6.9% | 3.95% | +5.4% |
| ABMD | Sell | Abiomed | $179,722,000 | -7.6% | 731,590 | -6.9% | 3.48% | +4.0% |
| TECH | Sell | Bio-Techne | $173,372,000 | -23.7% | 610,466 | -6.9% | 3.35% | -14.1% |
| DXCM | Sell | Dexcom | $167,237,000 | +0.6% | 2,076,444 | -6.9% | 3.23% | +13.2% |
| VEEV | Buy | Veeva | $164,580,000 | -11.8% | 998,182 | +6.0% | 3.18% | -0.7% |
| PYPL | Sell | PayPal | $137,186,000 | +14.8% | 1,593,884 | -6.9% | 2.65% | +29.1% |
| MRVI | Sell | Maravai | $104,400,000 | -16.3% | 4,089,326 | -6.9% | 2.02% | -5.9% |
| MTD | Sell | Mettler-Toledo | $95,781,000 | -12.1% | 88,349 | -6.9% | 1.85% | -1.1% |
| PODD | Sell | Insulet | $37,727,000 | -2.0% | 164,461 | -6.9% | 0.73% | +10.3% |
| APPF | Sell | AppFolio | $28,270,000 | +7.6% | 269,954 | -6.9% | 0.55% | +21.3% |
Q2 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| INTU | New | Intuit | $456,679,000 | – | 1,184,826 | – | 7.84% | – |
| MA | New | Mastercard | $441,157,000 | – | 1,398,369 | – | 7.58% | – |
| EW | New | Edwards | $427,609,000 | – | 4,496,889 | – | 7.35% | – |
| TW | New | Tradeweb | $404,172,000 | – | 5,921,931 | – | 6.94% | – |
| MKTX | New | MarketAxess | $362,175,000 | – | 1,414,690 | – | 6.22% | – |
| ANSS | New | Ansys | $345,946,000 | – | 1,445,717 | – | 5.94% | – |
| RMD | New | ResMed | $335,834,000 | – | 1,602,034 | – | 5.77% | – |
| TYL | New | Tyler | $328,182,000 | – | 987,074 | – | 5.64% | – |
| CSGP | New | Costar | $307,193,000 | – | 5,085,140 | – | 5.28% | – |
| WDAY | New | Workday | $286,193,000 | – | 2,050,384 | – | 4.92% | – |
| PTC | New | PTC | $264,407,000 | – | 2,486,428 | – | 4.54% | – |
| ICE | New | ICE | $236,374,000 | – | 2,513,548 | – | 4.06% | – |
| TECH | New | Bio-Techne | $227,276,000 | – | 655,654 | – | 3.90% | – |
| SNPS | New | Synopsys | $218,370,000 | – | 719,033 | – | 3.75% | – |
| ILMN | New | Illumina | $214,145,000 | – | 1,161,559 | – | 3.68% | – |
| ABMD | New | Abiomed | $194,480,000 | – | 785,747 | – | 3.34% | – |
| VEEV | New | Veeva | $186,535,000 | – | 941,904 | – | 3.20% | – |
| DXCM | New | Dexcom | $166,175,000 | – | 2,229,638 | – | 2.86% | – |
| MRVI | New | Maravai | $124,778,000 | – | 4,392,050 | – | 2.14% | – |
| PYPL | New | PayPal | $119,546,000 | – | 1,711,712 | – | 2.05% | – |
| MTD | New | Mettler-Toledo | $109,006,000 | – | 94,889 | – | 1.87% | – |
| PODD | New | Insulet | $38,496,000 | – | 176,634 | – | 0.66% | – |
| APPF | New | AppFolio | $26,280,000 | – | 289,936 | – | 0.45% | – |
Q4 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| APPF | Exit | AppFolio | $0 | – | -292,212 | – | -0.40% | – |
| BSX | Exit | Boston Scientific | $0 | – | -3,017,139 | – | -1.48% | – |
| MTD | Exit | Mettler-Toledo | $0 | – | -95,673 | – | -1.49% | – |
| MRVI | Exit | Maravai | $0 | – | -2,717,559 | – | -1.51% | – |
| DXCM | Exit | Dexcom | $0 | – | -307,395 | – | -1.90% | – |
| SNPS | Exit | Synopsys | $0 | – | -724,778 | – | -2.46% | – |
| ABMD | Exit | Abiomed | $0 | – | -724,443 | – | -2.67% | – |
| ICE | Exit | ICE | $0 | – | -2,533,594 | – | -3.30% | – |
| CSGP | Exit | Costar | $0 | – | -3,641,272 | – | -3.55% | – |
| VRSK | Exit | Verisk Analytics | $0 | – | -1,696,151 | – | -3.85% | – |
| RMD | Exit | ResMed | $0 | – | -1,385,409 | – | -4.14% | – |
| PTC | Exit | PTC | $0 | – | -3,136,552 | – | -4.26% | – |
| TYL | Exit | Tyler | $0 | – | -919,389 | – | -4.78% | – |
| ILMN | Exit | Illumina | $0 | – | -1,063,540 | – | -4.89% | – |
| PYPL | Exit | PayPal | $0 | – | -1,746,044 | – | -5.15% | – |
| WDAY | Exit | Workday | $0 | – | -1,838,381 | – | -5.20% | – |
| TW | Exit | Tradeweb | $0 | – | -5,965,276 | – | -5.46% | – |
| TECH | Exit | Bio-Techne | $0 | – | -1,005,277 | – | -5.52% | – |
| ANSS | Exit | Ansys | $0 | – | -1,461,047 | – | -5.63% | – |
| MKTX | Exit | MarketAxess | $0 | – | -1,237,192 | – | -5.90% | – |
| MASI | Exit | Masimo | $0 | – | -2,010,906 | – | -6.17% | – |
| EW | Exit | Edwards | $0 | – | -5,066,576 | – | -6.50% | – |
| MA | Exit | Mastercard | $0 | – | -1,721,425 | – | -6.78% | – |
| INTU | Exit | Intuit | $0 | – | -1,151,758 | – | -7.04% | – |
Q3 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| INTU | Buy | Intuit | $621,385,000 | +13.7% | 1,151,758 | +3.3% | 7.04% | +10.7% |
| MA | Sell | Mastercard | $598,505,000 | -12.2% | 1,721,425 | -7.8% | 6.78% | -14.5% |
| EW | Buy | Edwards | $573,587,000 | +12.9% | 5,066,576 | +3.3% | 6.50% | +9.9% |
| MASI | Buy | Masimo | $544,372,000 | +15.8% | 2,010,906 | +3.7% | 6.17% | +12.7% |
| MKTX | Sell | MarketAxess | $520,474,000 | -14.1% | 1,237,192 | -5.4% | 5.90% | -16.4% |
| ANSS | Buy | Ansys | $497,413,000 | +1.3% | 1,461,047 | +3.3% | 5.63% | -1.4% |
| TECH | Sell | Bio-Techne | $487,127,000 | -0.4% | 1,005,277 | -7.4% | 5.52% | -3.0% |
| TW | Buy | Tradeweb | $481,875,000 | -0.8% | 5,965,276 | +3.8% | 5.46% | -3.4% |
| WDAY | Buy | Workday | $459,393,000 | +8.1% | 1,838,381 | +3.3% | 5.20% | +5.3% |
| PYPL | Buy | PayPal | $454,338,000 | -7.3% | 1,746,044 | +3.9% | 5.15% | -9.7% |
| ILMN | Buy | Illumina | $431,382,000 | -11.0% | 1,063,540 | +3.9% | 4.89% | -13.3% |
| TYL | Buy | Tyler | $421,678,000 | +12.9% | 919,389 | +11.4% | 4.78% | +9.9% |
| PTC | Buy | PTC | $375,728,000 | -12.4% | 3,136,552 | +3.3% | 4.26% | -14.7% |
| RMD | Buy | ResMed | $365,125,000 | +10.4% | 1,385,409 | +3.3% | 4.14% | +7.5% |
| VRSK | Sell | Verisk Analytics | $339,688,000 | -1.0% | 1,696,151 | -13.7% | 3.85% | -3.6% |
| CSGP | Buy | Costar | $313,368,000 | +7.3% | 3,641,272 | +3.3% | 3.55% | +4.5% |
| ICE | Sell | ICE | $290,907,000 | -23.6% | 2,533,594 | -21.0% | 3.30% | -25.6% |
| ABMD | Buy | Abiomed | $235,821,000 | +25.1% | 724,443 | +19.9% | 2.67% | +21.7% |
| SNPS | New | Synopsys | $217,006,000 | – | 724,778 | – | 2.46% | – |
| DXCM | Buy | Dexcom | $168,102,000 | +222.6% | 307,395 | +151.9% | 1.90% | +214.2% |
| MRVI | Buy | Maravai | $133,378,000 | +37.2% | 2,717,559 | +16.7% | 1.51% | +33.7% |
| MTD | Buy | Mettler-Toledo | $131,776,000 | +2.7% | 95,673 | +3.3% | 1.49% | 0.0% |
| BSX | Sell | Boston Scientific | $130,914,000 | -50.2% | 3,017,139 | -50.9% | 1.48% | -51.5% |
| APPF | Buy | AppFolio | $35,182,000 | -11.9% | 292,212 | +3.3% | 0.40% | -14.2% |
Q2 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | New | Mastercard | $681,930,000 | – | 1,867,842 | – | 7.93% | – |
| MKTX | New | MarketAxess | $606,226,000 | – | 1,307,678 | – | 7.05% | – |
| INTU | New | Intuit | $546,709,000 | – | 1,115,345 | – | 6.36% | – |
| EW | New | Edwards | $508,075,000 | – | 4,905,616 | – | 5.91% | – |
| ANSS | New | Ansys | $491,019,000 | – | 1,414,795 | – | 5.71% | – |
| PYPL | New | PayPal | $490,034,000 | – | 1,681,193 | – | 5.70% | – |
| TECH | New | Bio-Techne | $489,041,000 | – | 1,086,131 | – | 5.69% | – |
| TW | New | Tradeweb | $485,933,000 | – | 5,746,608 | – | 5.65% | – |
| ILMN | New | Illumina | $484,515,000 | – | 1,023,891 | – | 5.64% | – |
| MASI | New | Masimo | $470,121,000 | – | 1,939,045 | – | 5.47% | – |
| PTC | New | PTC | $429,032,000 | – | 3,037,179 | – | 4.99% | – |
| WDAY | New | Workday | $425,041,000 | – | 1,780,350 | – | 4.94% | – |
| ICE | New | ICE | $380,675,000 | – | 3,207,034 | – | 4.43% | – |
| TYL | New | Tyler | $373,475,000 | – | 825,597 | – | 4.34% | – |
| VRSK | New | Verisk Analytics | $343,233,000 | – | 1,964,473 | – | 3.99% | – |
| RMD | New | ResMed | $330,667,000 | – | 1,341,339 | – | 3.85% | – |
| CSGP | New | Costar | $291,989,000 | – | 3,525,580 | – | 3.40% | – |
| BSX | New | Boston Scientific | $262,799,000 | – | 6,145,918 | – | 3.06% | – |
| ABMD | New | Abiomed | $188,570,000 | – | 604,177 | – | 2.19% | – |
| MTD | New | Mettler-Toledo | $128,346,000 | – | 92,646 | – | 1.49% | – |
| MRVI | New | Maravai | $97,181,000 | – | 2,328,804 | – | 1.13% | – |
| DXCM | New | Dexcom | $52,106,000 | – | 122,028 | – | 0.61% | – |
| APPF | New | AppFolio | $39,951,000 | – | 282,941 | – | 0.46% | – |
Q4 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| VAR | Exit | Varian | $0 | – | -584,888 | – | -2.09% | – |
| MTD | Exit | Mettler-Toledo | $0 | – | -116,719 | – | -2.34% | – |
| BSX | Exit | Boston Scientific | $0 | – | -4,265,888 | – | -3.39% | – |
| CSGP | Exit | Costar | $0 | – | -193,046 | – | -3.40% | – |
| WDAY | Exit | Workday | $0 | – | -848,364 | – | -3.79% | – |
| TECH | Exit | Bio-Techne | $0 | – | -758,367 | – | -3.91% | – |
| V | Exit | Visa | $0 | – | -986,930 | – | -4.10% | – |
| PTC | Exit | PTC | $0 | – | -2,407,501 | – | -4.14% | – |
| TYL | Exit | Tyler | $0 | – | -573,422 | – | -4.16% | – |
| CME | Exit | CME | $0 | – | -1,295,993 | – | -4.51% | – |
| ICE | Exit | ICE | $0 | – | -2,495,917 | – | -5.19% | – |
| VRSK | Exit | Verisk Analytics | $0 | – | -1,363,449 | – | -5.25% | – |
| TW | Exit | Tradeweb | $0 | – | -4,432,244 | – | -5.34% | – |
| EW | Exit | Edwards | $0 | – | -3,299,069 | – | -5.47% | – |
| PYPL | Exit | PayPal | $0 | – | -1,360,376 | – | -5.57% | – |
| INTU | Exit | Intuit | $0 | – | -863,182 | – | -5.85% | – |
| MASI | Exit | Masimo | $0 | – | -1,352,329 | – | -6.64% | – |
| ANSS | Exit | Ansys | $0 | – | -1,085,330 | – | -7.38% | – |
| MKTX | Exit | MarketAxess | $0 | – | -839,876 | – | -8.41% | – |
| MA | Exit | Mastercard | $0 | – | -1,287,190 | – | -9.05% | – |
Q3 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | Buy | Mastercard | $435,289,000 | +41.5% | 1,287,190 | +23.8% | 9.05% | +10.6% |
| MKTX | Buy | MarketAxess | $404,476,000 | +11.5% | 839,876 | +16.0% | 8.41% | -12.9% |
| ANSS | Buy | Ansys | $355,153,000 | +17.4% | 1,085,330 | +4.7% | 7.38% | -8.3% |
| MASI | Buy | Masimo | $319,231,000 | +32.2% | 1,352,329 | +27.7% | 6.64% | +3.2% |
| INTU | Buy | Intuit | $281,579,000 | +35.1% | 863,182 | +22.7% | 5.85% | +5.6% |
| PYPL | Sell | PayPal | $268,035,000 | -0.8% | 1,360,376 | -12.3% | 5.57% | -22.5% |
| EW | New | Edwards | $263,332,000 | – | 3,299,069 | – | 5.47% | – |
| TW | Buy | Tradeweb | $257,070,000 | +49.2% | 4,432,244 | +49.6% | 5.34% | +16.6% |
| VRSK | Buy | Verisk Analytics | $252,661,000 | +26.3% | 1,363,449 | +16.0% | 5.25% | -1.3% |
| ICE | Buy | ICE | $249,716,000 | +82.2% | 2,495,917 | +66.8% | 5.19% | +42.3% |
| CME | Buy | CME | $216,833,000 | +19.5% | 1,295,993 | +16.1% | 4.51% | -6.7% |
| TYL | Buy | Tyler | $199,872,000 | +31.7% | 573,422 | +31.1% | 4.16% | +2.9% |
| PTC | Buy | PTC | $199,148,000 | +41.8% | 2,407,501 | +33.3% | 4.14% | +10.8% |
| V | Buy | Visa | $197,356,000 | +20.1% | 986,930 | +16.0% | 4.10% | -6.2% |
| TECH | Buy | Bio-Techne | $187,870,000 | +37.1% | 758,367 | +46.1% | 3.91% | +7.1% |
| WDAY | Buy | Workday | $182,509,000 | +94.3% | 848,364 | +69.2% | 3.79% | +51.8% |
| CSGP | New | Costar | $163,801,000 | – | 193,046 | – | 3.40% | – |
| BSX | Buy | Boston Scientific | $163,000,000 | +26.3% | 4,265,888 | +16.0% | 3.39% | -1.4% |
| MTD | Sell | Mettler-Toledo | $112,721,000 | +11.9% | 116,719 | -6.7% | 2.34% | -12.6% |
| VAR | Sell | Varian | $100,601,000 | -51.1% | 584,888 | -65.1% | 2.09% | -61.8% |
| IDXX | Exit | Idexx | $0 | – | -251,876 | – | -2.21% | – |
| Exit | Edwards | $0 | – | -2,422,642 | – | -4.46% | – |
Q2 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MKTX | New | MarketAxess | $362,699,000 | – | 724,066 | – | 9.65% | – |
| MA | New | Mastercard | $307,520,000 | – | 1,039,974 | – | 8.18% | – |
| ANSS | New | Ansys | $302,507,000 | – | 1,036,942 | – | 8.05% | – |
| PYPL | New | PayPal | $270,262,000 | – | 1,551,177 | – | 7.19% | – |
| MASI | New | Masimo | $241,527,000 | – | 1,059,377 | – | 6.43% | – |
| INTU | New | Intuit | $208,384,000 | – | 703,549 | – | 5.55% | – |
| VAR | New | Varian | $205,625,000 | – | 1,678,301 | – | 5.47% | – |
| VRSK | New | Verisk Analytics | $199,993,000 | – | 1,175,046 | – | 5.32% | – |
| CME | New | CME | $181,502,000 | – | 1,116,661 | – | 4.83% | – |
| TW | New | Tradeweb | $172,258,000 | – | 2,962,821 | – | 4.58% | – |
| New | Edwards | $167,429,000 | – | 2,422,642 | – | 4.46% | – | |
| V | New | Visa | $164,302,000 | – | 850,557 | – | 4.37% | – |
| TYL | New | Tyler | $151,732,000 | – | 437,419 | – | 4.04% | – |
| PTC | New | PTC | $140,450,000 | – | 1,805,501 | – | 3.74% | – |
| TECH | New | Bio-Techne | $137,038,000 | – | 518,944 | – | 3.65% | – |
| ICE | New | ICE | $137,037,000 | – | 1,496,032 | – | 3.65% | – |
| BSX | New | Boston Scientific | $129,082,000 | – | 3,676,498 | – | 3.44% | – |
| MTD | New | Mettler-Toledo | $100,767,000 | – | 125,091 | – | 2.68% | – |
| WDAY | New | Workday | $93,940,000 | – | 501,390 | – | 2.50% | – |
| IDXX | New | Idexx | $83,159,000 | – | 251,876 | – | 2.21% | – |
Q4 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ZTS | Exit | Zoetis | $0 | – | -224,450 | – | -1.29% | – |
| MDSO | Exit | Medidata | $0 | – | -336,160 | – | -1.42% | – |
| IDXX | Exit | Idexx | $0 | – | -160,967 | – | -2.02% | – |
| CGNX | Exit | Cognex | $0 | – | -896,315 | – | -2.04% | – |
| PTC | Exit | PTC | $0 | – | -715,123 | – | -2.25% | – |
| SIVB | Exit | SVB Fin Group | $0 | – | -308,543 | – | -2.98% | – |
| WAT | Exit | Waters | $0 | – | -301,164 | – | -3.11% | – |
| MTD | Exit | Mettler-Toledo | $0 | – | -102,584 | – | -3.34% | – |
| PYPL | Exit | PayPal | $0 | – | -723,562 | – | -3.46% | – |
| INTU | Exit | Intuit | $0 | – | -303,432 | – | -3.73% | – |
| BSX | Exit | Boston Scientific | $0 | – | -2,107,429 | – | -3.96% | – |
| TYL | Exit | Tyler | $0 | – | -381,755 | – | -4.63% | – |
| MASI | Exit | Masimo | $0 | – | -717,861 | – | -4.94% | – |
| Exit | Edwards | $0 | – | -505,201 | – | -5.14% | – | |
| V | Exit | Visa | $0 | – | -695,951 | – | -5.53% | – |
| VAR | Exit | Varian | $0 | – | -1,053,155 | – | -5.80% | – |
| VRSK | Exit | Verisk Analytics | $0 | – | -833,560 | – | -6.09% | – |
| HXL | Exit | Hexcel | $0 | – | -1,637,127 | – | -6.21% | – |
| MKTX | Exit | MarketAxess | $0 | – | -473,799 | – | -7.17% | – |
| ANSS | Exit | Ansys | $0 | – | -710,848 | – | -7.27% | – |
| CME | Exit | CME | $0 | – | -769,458 | – | -7.52% | – |
| MA | Exit | Mastercard | $0 | – | -804,275 | – | -10.09% | – |
Q3 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | Buy | Mastercard | $218,417,000 | +4.8% | 804,275 | +2.1% | 10.09% | +7.1% |
| CME | Buy | CME | $162,617,000 | +11.0% | 769,458 | +1.9% | 7.52% | +13.4% |
| ANSS | Buy | Ansys | $157,353,000 | +10.3% | 710,848 | +2.1% | 7.27% | +12.7% |
| MKTX | Buy | MarketAxess | $155,169,000 | +4.0% | 473,799 | +2.1% | 7.17% | +6.3% |
| HXL | Buy | Hexcel | $134,457,000 | +3.6% | 1,637,127 | +2.1% | 6.21% | +5.9% |
| VRSK | Sell | Verisk Analytics | $131,819,000 | +4.4% | 833,560 | -3.3% | 6.09% | +6.7% |
| VAR | Buy | Varian | $125,420,000 | -10.7% | 1,053,155 | +2.1% | 5.80% | -8.8% |
| V | Buy | Visa | $119,711,000 | +1.2% | 695,951 | +2.1% | 5.53% | +3.4% |
| Buy | Edwards | $111,099,000 | +21.5% | 505,201 | +2.1% | 5.14% | +24.2% | |
| MASI | Buy | Masimo | $106,811,000 | +57.8% | 717,861 | +57.8% | 4.94% | +61.2% |
| TYL | Buy | Tyler | $100,211,000 | +24.0% | 381,755 | +2.1% | 4.63% | +26.7% |
| BSX | Buy | Boston Scientific | $85,751,000 | +61.2% | 2,107,429 | +70.3% | 3.96% | +64.8% |
| INTU | Buy | Intuit | $80,695,000 | +47.2% | 303,432 | +44.7% | 3.73% | +50.5% |
| PYPL | Sell | PayPal | $74,954,000 | -38.2% | 723,562 | -31.7% | 3.46% | -36.8% |
| MTD | Buy | Mettler-Toledo | $72,260,000 | +11.2% | 102,584 | +32.6% | 3.34% | +13.6% |
| WAT | Buy | Waters | $67,229,000 | +5.8% | 301,164 | +2.1% | 3.11% | +8.1% |
| SIVB | Buy | SVB Fin Group | $64,470,000 | -5.0% | 308,543 | +2.1% | 2.98% | -3.0% |
| PTC | Buy | PTC | $48,757,000 | -22.5% | 715,123 | +2.0% | 2.25% | -20.9% |
| CGNX | Buy | Cognex | $44,036,000 | +4.0% | 896,315 | +1.5% | 2.04% | +6.2% |
| IDXX | Sell | Idexx | $43,772,000 | -45.7% | 160,967 | -45.0% | 2.02% | -44.5% |
| MDSO | Buy | Medidata | $30,759,000 | +3.1% | 336,160 | +2.0% | 1.42% | +5.4% |
| ZTS | New | Zoetis | $27,964,000 | – | 224,450 | – | 1.29% | – |
| ALGN | Exit | Align | $0 | – | -183,212 | – | -2.27% | – |
| FRC | Exit | First Republic Bank | $0 | – | -1,208,805 | – | -5.34% | – |
Q2 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | New | Mastercard | $208,473,000 | – | 788,090 | – | 9.43% | – |
| MKTX | New | MarketAxess | $149,224,000 | – | 464,264 | – | 6.75% | – |
| CME | New | CME | $146,521,000 | – | 754,833 | – | 6.63% | – |
| ANSS | New | Ansys | $142,658,000 | – | 696,504 | – | 6.45% | – |
| VAR | New | Varian | $140,454,000 | – | 1,031,761 | – | 6.35% | – |
| HXL | New | Hexcel | $129,746,000 | – | 1,604,175 | – | 5.87% | – |
| VRSK | New | Verisk Analytics | $126,279,000 | – | 862,211 | – | 5.71% | – |
| PYPL | New | PayPal | $121,255,000 | – | 1,059,368 | – | 5.48% | – |
| V | New | Visa | $118,346,000 | – | 681,913 | – | 5.35% | – |
| FRC | New | First Republic Bank | $118,040,000 | – | 1,208,805 | – | 5.34% | – |
| New | Edwards | $91,439,000 | – | 494,960 | – | 4.14% | – | |
| TYL | New | Tyler | $80,803,000 | – | 374,053 | – | 3.65% | – |
| IDXX | New | Idexx | $80,551,000 | – | 292,560 | – | 3.64% | – |
| SIVB | New | SVB Fin Group | $67,898,000 | – | 302,318 | – | 3.07% | – |
| MASI | New | Masimo | $67,708,000 | – | 454,964 | – | 3.06% | – |
| MTD | New | Mettler-Toledo | $65,007,000 | – | 77,389 | – | 2.94% | – |
| WAT | New | Waters | $63,519,000 | – | 295,106 | – | 2.87% | – |
| PTC | New | PTC | $62,944,000 | – | 701,243 | – | 2.85% | – |
| INTU | New | Intuit | $54,803,000 | – | 209,708 | – | 2.48% | – |
| BSX | New | Boston Scientific | $53,179,000 | – | 1,237,287 | – | 2.40% | – |
| ALGN | New | Align | $50,145,000 | – | 183,212 | – | 2.27% | – |
| CGNX | New | Cognex | $42,362,000 | – | 882,901 | – | 1.92% | – |
| MDSO | New | Medidata | $29,839,000 | – | 329,673 | – | 1.35% | – |
Q4 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ALGN | Exit | Align | $0 | – | -89,349 | – | -2.04% | – |
| MDSO | Exit | Medidata | $0 | – | -488,629 | – | -2.09% | – |
| MASI | Exit | Masimo | $0 | – | -315,236 | – | -2.29% | – |
| CGNX | Exit | Cognex | $0 | – | -817,395 | – | -2.66% | – |
| PTC | Exit | PTC | $0 | – | -430,782 | – | -2.67% | – |
| IDXX | Exit | Idexx | $0 | – | -230,018 | – | -3.35% | – |
| MKTX | Exit | MarketAxess | $0 | – | -332,576 | – | -3.46% | – |
| CME | Exit | CME | $0 | – | -369,328 | – | -3.66% | – |
| MTD | Exit | Mettler-Toledo | $0 | – | -116,714 | – | -4.14% | – |
| WAT | Exit | Waters | $0 | – | -402,712 | – | -4.57% | – |
| TYL | Exit | Tyler | $0 | – | -348,786 | – | -4.98% | – |
| VAR | Exit | Varian | $0 | – | -780,943 | – | -5.10% | – |
| SIVB | Exit | SVB Fin Group | $0 | – | -281,900 | – | -5.11% | – |
| V | Exit | Visa | $0 | – | -635,848 | – | -5.56% | – |
| HXL | Exit | Hexcel | $0 | – | -1,429,940 | – | -5.59% | – |
| VRSK | Exit | Verisk Analytics | $0 | – | -805,322 | – | -5.66% | – |
| FRC | Exit | First Republic Bank | $0 | – | -1,129,055 | – | -6.32% | – |
| PYPL | Exit | PayPal | $0 | – | -1,235,456 | – | -6.33% | – |
| Exit | Edwards | $0 | – | -645,655 | – | -6.55% | – | |
| ANSS | Exit | Ansys | $0 | – | -650,555 | – | -7.08% | – |
| MA | Exit | Mastercard | $0 | – | -830,527 | – | -10.78% | – |
Q3 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | Buy | Mastercard | $184,884,000 | +14.2% | 830,527 | +0.8% | 10.78% | +1.1% |
| ANSS | Buy | Ansys | $121,446,000 | +8.0% | 650,555 | +0.8% | 7.08% | -4.4% |
| Sell | Edwards | $112,409,000 | -1.0% | 645,655 | -17.2% | 6.55% | -12.4% | |
| PYPL | Buy | PayPal | $108,522,000 | +6.3% | 1,235,456 | +0.8% | 6.33% | -5.9% |
| FRC | Buy | First Republic Bank | $108,389,000 | -0.0% | 1,129,055 | +0.8% | 6.32% | -11.5% |
| VRSK | Buy | Verisk Analytics | $97,082,000 | +13.3% | 805,322 | +1.2% | 5.66% | +0.2% |
| HXL | Buy | Hexcel | $95,877,000 | +1.7% | 1,429,940 | +0.6% | 5.59% | -10.0% |
| V | Buy | Visa | $95,434,000 | +14.0% | 635,848 | +0.6% | 5.56% | +0.9% |
| SIVB | Buy | SVB Fin Group | $87,623,000 | +8.3% | 281,900 | +0.6% | 5.11% | -4.1% |
| VAR | Buy | Varian | $87,411,000 | -1.0% | 780,943 | +0.6% | 5.10% | -12.3% |
| TYL | Buy | Tyler | $85,473,000 | +11.0% | 348,786 | +0.6% | 4.98% | -1.7% |
| WAT | Buy | Waters | $78,400,000 | +1.4% | 402,712 | +0.8% | 4.57% | -10.3% |
| MTD | Buy | Mettler-Toledo | $71,076,000 | +6.1% | 116,714 | +0.8% | 4.14% | -6.1% |
| CME | Buy | CME | $62,863,000 | +4.4% | 369,328 | +0.6% | 3.66% | -7.6% |
| MKTX | Buy | MarketAxess | $59,361,000 | -9.2% | 332,576 | +0.6% | 3.46% | -19.7% |
| IDXX | Buy | Idexx | $57,426,000 | +15.5% | 230,018 | +0.8% | 3.35% | +2.2% |
| PTC | New | PTC | $45,745,000 | – | 430,782 | – | 2.67% | – |
| CGNX | Buy | Cognex | $45,627,000 | +48.9% | 817,395 | +19.0% | 2.66% | +31.7% |
| MASI | New | Masimo | $39,259,000 | – | 315,236 | – | 2.29% | – |
| MDSO | Buy | Medidata | $35,821,000 | +22.9% | 488,629 | +35.1% | 2.09% | +8.8% |
| ALGN | Buy | Align | $34,955,000 | +15.3% | 89,349 | +0.8% | 2.04% | +2.0% |
Q2 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | New | Mastercard | $161,914,000 | – | 823,904 | – | 10.67% | – |
| New | Edwards | $113,559,000 | – | 780,096 | – | 7.48% | – | |
| ANSS | New | Ansys | $112,401,000 | – | 645,317 | – | 7.40% | – |
| FRC | New | First Republic Bank | $108,412,000 | – | 1,120,079 | – | 7.14% | – |
| PYPL | New | Paypal | $102,057,000 | – | 1,225,618 | – | 6.72% | – |
| HXL | New | Hexcel | $94,320,000 | – | 1,420,911 | – | 6.21% | – |
| VAR | New | Varian | $88,252,000 | – | 776,046 | – | 5.81% | – |
| VRSK | New | Verisk Analytics | $85,695,000 | – | 796,123 | – | 5.65% | – |
| V | New | Visa | $83,684,000 | – | 631,819 | – | 5.51% | – |
| SIVB | New | SVB Fin Group | $80,884,000 | – | 280,109 | – | 5.33% | – |
| WAT | New | Waters | $77,338,000 | – | 399,496 | – | 5.10% | – |
| TYL | New | Tyler | $76,974,000 | – | 346,574 | – | 5.07% | – |
| MTD | New | Mettler-Toledo | $66,991,000 | – | 115,775 | – | 4.41% | – |
| MKTX | New | MarketAxess | $65,392,000 | – | 330,497 | – | 4.31% | – |
| CME | New | CME | $60,190,000 | – | 367,189 | – | 3.96% | – |
| IDXX | New | Idexx | $49,726,000 | – | 228,165 | – | 3.28% | – |
| CGNX | New | Cognex | $30,644,000 | – | 686,935 | – | 2.02% | – |
| ALGN | New | Align | $30,327,000 | – | 88,638 | – | 2.00% | – |
| MDSO | New | Medidata | $29,140,000 | – | 361,721 | – | 1.92% | – |
Q4 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MKTX | Exit | MarketAxess | $0 | – | -175,730 | – | -2.57% | – |
| Exit | Edwards | $0 | – | -368,146 | – | -3.19% | – | |
| ATR | Exit | Aptar | $0 | – | -515,619 | – | -3.53% | – |
| VRSK | Exit | Verisk Analytics | $0 | – | -594,488 | – | -3.92% | – |
| CME | Exit | CME | $0 | – | -392,646 | – | -4.22% | – |
| SIVB | Exit | SVB Fin Group | $0 | – | -287,716 | – | -4.27% | – |
| WAT | Exit | Waters | $0 | – | -414,892 | – | -5.91% | – |
| ALGN | Exit | Align | $0 | – | -436,498 | – | -6.45% | – |
| ANSS | Exit | Ansys | $0 | – | -697,361 | – | -6.79% | – |
| VAR | Exit | Varian | $0 | – | -889,269 | – | -7.06% | – |
| PYPL | Exit | Paypal | $0 | – | -1,431,458 | – | -7.27% | – |
| HXL | Exit | Hexcel | $0 | – | -1,738,711 | – | -7.92% | – |
| V | Exit | Visa | $0 | – | -953,484 | – | -7.96% | – |
| MTD | Exit | Mettler-Toledo | $0 | – | -163,676 | – | -8.13% | – |
| FRC | Exit | First Republic Bank | $0 | – | -1,150,075 | – | -9.53% | – |
| MA | Exit | Mastercard | $0 | – | -1,009,473 | – | -11.30% | – |
Q3 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | Buy | Mastercard | $142,538,000 | +25.3% | 1,009,473 | +7.8% | 11.30% | +3.4% |
| FRC | Buy | First Republic Bank | $120,137,000 | +12.5% | 1,150,075 | +7.8% | 9.53% | -7.1% |
| MTD | Buy | Mettler-Toledo | $102,487,000 | +14.7% | 163,676 | +7.8% | 8.13% | -5.3% |
| V | Buy | Visa | $100,345,000 | +21.0% | 953,484 | +7.8% | 7.96% | -0.2% |
| HXL | Buy | Hexcel | $99,837,000 | +17.3% | 1,738,711 | +7.8% | 7.92% | -3.2% |
| PYPL | Buy | Paypal | $91,656,000 | +28.6% | 1,431,458 | +7.8% | 7.27% | +6.1% |
| VAR | Buy | Varian | $88,980,000 | +4.8% | 889,269 | +8.1% | 7.06% | -13.5% |
| ANSS | Buy | Ansys | $85,587,000 | +44.2% | 697,361 | +42.9% | 6.79% | +19.0% |
| ALGN | Buy | Align | $81,306,000 | +33.7% | 436,498 | +7.8% | 6.45% | +10.4% |
| WAT | Sell | Waters | $74,481,000 | -6.9% | 414,892 | -4.7% | 5.91% | -23.2% |
| SIVB | Buy | SVB Fin Group | $53,829,000 | +14.7% | 287,716 | +7.8% | 4.27% | -5.3% |
| CME | Buy | CME | $53,274,000 | +30.0% | 392,646 | +20.0% | 4.22% | +7.3% |
| VRSK | New | Verisk Analytics | $49,455,000 | – | 594,488 | – | 3.92% | – |
| ATR | Buy | Aptar | $44,503,000 | +7.1% | 515,619 | +7.8% | 3.53% | -11.6% |
| New | Edwards | $40,242,000 | – | 368,146 | – | 3.19% | – | |
| MKTX | Buy | MarketAxess | $32,424,000 | +40.7% | 175,730 | +53.4% | 2.57% | +16.1% |
| SJM | Exit | Smucker | $0 | – | -456,907 | – | -5.20% | – |
Q2 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | New | Mastercard | $113,727,000 | – | 936,406 | – | 10.93% | – |
| FRC | New | First Republic Bank | $106,790,000 | – | 1,066,832 | – | 10.26% | – |
| MTD | New | Mettler-Toledo | $89,358,000 | – | 151,830 | – | 8.58% | – |
| HXL | New | Hexcel | $85,143,000 | – | 1,612,863 | – | 8.18% | – |
| VAR | New | Varian | $84,868,000 | – | 822,447 | – | 8.15% | – |
| V | New | Visa | $82,946,000 | – | 884,472 | – | 7.97% | – |
| WAT | New | Waters | $80,039,000 | – | 435,371 | – | 7.69% | – |
| PYPL | New | Paypal | $71,267,000 | – | 1,327,874 | – | 6.85% | – |
| ALGN | New | Align | $60,791,000 | – | 404,947 | – | 5.84% | – |
| ANSS | New | Ansys | $59,363,000 | – | 487,861 | – | 5.70% | – |
| SJM | New | Smucker | $54,066,000 | – | 456,907 | – | 5.20% | – |
| SIVB | New | SVB Fin Group | $46,917,000 | – | 266,891 | – | 4.51% | – |
| ATR | New | Aptar | $41,535,000 | – | 478,189 | – | 3.99% | – |
| CME | New | CME | $40,968,000 | – | 327,112 | – | 3.94% | – |
| MKTX | New | MarketAxess | $23,043,000 | – | 114,583 | – | 2.21% | – |
Q4 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| EBAY | Exit | Ebay | $0 | – | -717,294 | – | -2.93% | – |
| Exit | Align | $0 | – | -307,523 | – | -3.58% | – | |
| Exit | Aptar | $0 | – | -449,053 | – | -4.32% | – | |
| ANSS | Exit | Ansys | $0 | – | -387,525 | – | -4.46% | – |
| XRAY | Exit | Dentsply Sirona | $0 | – | -630,038 | – | -4.66% | – |
| PYPL | Exit | Paypal | $0 | – | -1,247,392 | – | -6.36% | – |
| SJM | Exit | Smucker | $0 | – | -428,795 | – | -7.23% | – |
| HXL | Exit | Hexcel | $0 | – | -1,514,972 | – | -8.34% | – |
| V | Exit | Visa | $0 | – | -831,143 | – | -8.55% | – |
| VAR | Exit | Varian | $0 | – | -744,449 | – | -9.21% | – |
| MTD | Exit | Mettler-Toledo | $0 | – | -180,727 | – | -9.43% | – |
| FRC | Exit | First Republic Bank | $0 | – | -1,001,779 | – | -9.60% | – |
| WAT | Exit | Waters | $0 | – | -516,798 | – | -10.18% | – |
| MA | Exit | Mastercard | $0 | – | -879,714 | – | -11.13% | – |
Q3 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | Buy | Mastercard | $89,528,000 | +36.1% | 879,714 | +17.7% | 11.13% | +5.6% |
| WAT | Buy | Waters | $81,907,000 | +32.6% | 516,798 | +17.7% | 10.18% | +2.9% |
| FRC | Buy | First Republic Bank | $77,247,000 | +29.6% | 1,001,779 | +17.7% | 9.60% | +0.6% |
| MTD | Buy | Mettler-Toledo | $75,875,000 | +35.4% | 180,727 | +17.7% | 9.43% | +5.1% |
| VAR | Buy | Varian | $74,095,000 | +42.4% | 744,449 | +17.7% | 9.21% | +10.5% |
| V | Buy | Visa | $68,736,000 | +31.2% | 831,143 | +17.7% | 8.55% | +1.8% |
| HXL | Buy | Hexcel | $67,113,000 | +25.2% | 1,514,972 | +17.7% | 8.34% | -2.8% |
| SJM | Buy | Smucker | $58,119,000 | +4.7% | 428,795 | +17.7% | 7.23% | -18.8% |
| PYPL | Buy | Paypal | $51,106,000 | +32.1% | 1,247,392 | +17.7% | 6.36% | +2.5% |
| XRAY | Buy | Dentsply Sirona | $37,443,000 | +12.7% | 630,038 | +17.7% | 4.66% | -12.5% |
| ANSS | Buy | Ansys | $35,889,000 | +19.7% | 387,525 | +17.3% | 4.46% | -7.1% |
| Buy | Aptar | $34,761,000 | +15.2% | 449,053 | +17.7% | 4.32% | -10.6% | |
| Buy | Align | $28,830,000 | +36.9% | 307,523 | +17.7% | 3.58% | +6.3% | |
| EBAY | Buy | Ebay | $23,599,000 | +65.4% | 717,294 | +17.7% | 2.93% | +28.3% |
Q2 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | New | Mastercard | $65,796,000 | – | 747,173 | – | 10.54% | – |
| WAT | New | Waters | $61,769,000 | – | 439,170 | – | 9.90% | – |
| FRC | New | First Republic Bank | $59,585,000 | – | 851,341 | – | 9.55% | – |
| MTD | New | Mettler-Toledo | $56,023,000 | – | 153,520 | – | 8.98% | – |
| SJM | New | Smucker | $55,536,000 | – | 364,387 | – | 8.90% | – |
| HXL | New | Hexcel | $53,597,000 | – | 1,287,147 | – | 8.59% | – |
| V | New | Visa | $52,375,000 | – | 706,149 | – | 8.39% | – |
| VAR | New | Varian | $52,017,000 | – | 632,574 | – | 8.34% | – |
| PYPL | New | Paypal | $38,701,000 | – | 1,060,001 | – | 6.20% | – |
| XRAY | New | Dentsply Sirona | $33,213,000 | – | 535,356 | – | 5.32% | – |
| New | Aptar | $30,185,000 | – | 381,465 | – | 4.84% | – | |
| ANSS | New | Ansys | $29,979,000 | – | 330,347 | – | 4.80% | – |
| New | Align | $21,054,000 | – | 261,380 | – | 3.37% | – | |
| EBAY | New | Ebay | $14,265,000 | – | 609,363 | – | 2.29% | – |
Q4 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| Exit | Aptar | $0 | – | -239,205 | – | -2.77% | – | |
| EBAY | Exit | Ebay | $0 | – | -1,177,885 | – | -5.05% | – |
| QCOM | Exit | Qualcomm | $0 | – | -540,231 | – | -5.09% | – |
| PH | Exit | Parker-Hannifin | $0 | – | -307,874 | – | -5.26% | – |
| V | Exit | Visa | $0 | – | -441,363 | – | -5.39% | – |
| SIRO | Exit | Sirona | $0 | – | -384,998 | – | -6.30% | – |
| SJM | Exit | Smucker | $0 | – | -316,749 | – | -6.34% | – |
| PYPL | Exit | Paypal | $0 | – | -1,177,885 | – | -6.41% | – |
| WAT | Exit | Waters | $0 | – | -312,086 | – | -6.47% | – |
| VAR | Exit | Varian | $0 | – | -505,937 | – | -6.55% | – |
| FRC | Exit | First Republic Bank | $0 | – | -686,432 | – | -7.56% | – |
| MTD | Exit | Mettler-Toledo | $0 | – | -151,753 | – | -7.58% | – |
| HXL | Exit | Hexcel | $0 | – | -1,119,106 | – | -8.81% | – |
| JWN | Exit | Nordstrom | $0 | – | -806,665 | – | -10.15% | – |
| MA | Exit | Mastercard | $0 | – | -649,843 | – | -10.27% | – |
Q3 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MA | New | Mastercard | $58,564,000 | – | 649,843 | – | 10.27% | – |
| JWN | New | Nordstrom | $57,846,000 | – | 806,665 | – | 10.15% | – |
| HXL | New | Hexcel | $50,203,000 | – | 1,119,106 | – | 8.81% | – |
| MTD | New | Mettler-Toledo | $43,210,000 | – | 151,753 | – | 7.58% | – |
| FRC | New | First Republic Bank | $43,087,000 | – | 686,432 | – | 7.56% | – |
| VAR | New | Varian | $37,328,000 | – | 505,937 | – | 6.55% | – |
| WAT | New | Waters | $36,892,000 | – | 312,086 | – | 6.47% | – |
| PYPL | New | Paypal | $36,562,000 | – | 1,177,885 | – | 6.41% | – |
| SJM | New | Smucker | $36,138,000 | – | 316,749 | – | 6.34% | – |
| SIRO | New | Sirona | $35,936,000 | – | 384,998 | – | 6.30% | – |
| V | New | Visa | $30,745,000 | – | 441,363 | – | 5.39% | – |
| PH | New | Parker-Hannifin | $29,956,000 | – | 307,874 | – | 5.26% | – |
| QCOM | New | Qualcomm | $29,027,000 | – | 540,231 | – | 5.09% | – |
| EBAY | New | Ebay | $28,788,000 | – | 1,177,885 | – | 5.05% | – |
| New | Aptar | $15,778,000 | – | 239,205 | – | 2.77% | – |