Historical Stock Holdings

Stephen Mandel - Lone Pine Capital

PeriodPortfolio ValueTop 20 holdings history (left to right)
2024   Q3$13.4 B META
Meta Platforms Inc.
8.08% of portfolio
 		AMZN
Amazon.com Inc.
7.62% of portfolio
 		VST
Vistra Corp.
6.02% of portfolio
 		TSM
Taiwan Semiconductor S.A.
5.46% of portfolio
 		MSFT
Microsoft Corp.
5.31% of portfolio
 		CRM
Salesforce.com
4.77% of portfolio
 		CEG
Constellation Energy Corp.
4.64% of portfolio
 		KKR
KKR & Co. L.P.
4.41% of portfolio
 		SPOT
Spotify Technology S.A.
4.27% of portfolio
 		INTU
Intuit Inc.
4.27% of portfolio
 		LEN
Lennar Corp.
4.09% of portfolio
 		PM
Philip Morris Intl.
4.06% of portfolio
 		SQ
Block Inc.
3.84% of portfolio
 		LPLA
LPL Financial Holdings Inc.
3.78% of portfolio
 		UNH
United Health Group Inc.
3.58% of portfolio
 		ASML
ASML Holding NV
3.43% of portfolio
 		PTC
PTC Inc.
3.43% of portfolio
 		SBUX
Starbucks Corp.
2.95% of portfolio
 		WDAY
Workday Inc.
2.93% of portfolio
 		BKNG
Booking Holdings Inc.
2.40% of portfolio
2024   Q2$12.3 B TSM
Taiwan Semiconductor S.A.
8.46% of portfolio
 		MSFT
Microsoft Corp.
7.32% of portfolio
 		AMZN
Amazon.com Inc.
6.97% of portfolio
 		META
Meta Platforms Inc.
5.70% of portfolio
 		PM
Philip Morris Intl.
5.48% of portfolio
 		KKR
KKR & Co. L.P.
5.45% of portfolio
 		ASML
ASML Holding NV
4.88% of portfolio
 		INTU
Intuit Inc.
4.81% of portfolio
 		VST
Vistra Corp.
4.77% of portfolio
 		SPOT
Spotify Technology S.A.
4.29% of portfolio
 		SQ
Block Inc.
4.01% of portfolio
 		UNH
United Health Group Inc.
3.90% of portfolio
 		APP
Applovin Corp.
3.85% of portfolio
 		LPLA
LPL Financial Holdings Inc.
3.82% of portfolio
 		PTC
PTC Inc.
3.75% of portfolio
 		MA
Mastercard Inc.
3.73% of portfolio
 		BBWI
Bath & Body Works Inc.
3.58% of portfolio
 		BKNG
Booking Holdings Inc.
3.38% of portfolio
 		MCK
McKesson Corp.
2.66% of portfolio
 		CEG
Constellation Energy Corp.
2.61% of portfolio
2024   Q1$12.7 B META
Meta Platforms Inc.
8.19% of portfolio
 		TSM
Taiwan Semiconductor S.A.
6.63% of portfolio
 		MSFT
Microsoft Corp.
6.41% of portfolio
 		AMZN
Amazon.com Inc.
6.40% of portfolio
 		CRM
Salesforce.com
5.71% of portfolio
 		KKR
KKR & Co. L.P.
5.55% of portfolio
 		PM
Philip Morris Intl.
4.82% of portfolio
 		INTU
Intuit Inc.
4.63% of portfolio
 		SQ
Block Inc.
4.50% of portfolio
 		PTC
PTC Inc.
4.43% of portfolio
 		BBWI
Bath & Body Works Inc.
3.86% of portfolio
 		ASML
ASML Holding NV
3.78% of portfolio
 		VST
Vistra Corp.
3.52% of portfolio
 		LPLA
LPL Financial Holdings Inc.
3.51% of portfolio
 		SPOT
Spotify Technology S.A.
3.51% of portfolio
 		WDAY
Workday Inc.
3.05% of portfolio
 		BKNG
Booking Holdings Inc.
2.99% of portfolio
 		APP
Applovin Corp.
2.91% of portfolio
 		LYV
Live Nation Inc.
2.69% of portfolio
 		MA
Mastercard Inc.
2.59% of portfolio
2023   Q4$11.6 B META
Meta Platforms Inc.
8.80% of portfolio
 		AMZN
Amazon.com Inc.
7.18% of portfolio
 		TSM
Taiwan Semiconductor S.A.
6.25% of portfolio
 		MSFT
Microsoft Corp.
5.89% of portfolio
 		CRM
Salesforce.com
5.69% of portfolio
 		PTC
PTC Inc.
4.79% of portfolio
 		BKNG
Booking Holdings Inc.
4.68% of portfolio
 		KKR
KKR & Co. L.P.
4.46% of portfolio
 		SQ
Block Inc.
4.42% of portfolio
 		MA
Mastercard Inc.
4.06% of portfolio
 		UNH
United Health Group Inc.
4.06% of portfolio
 		INTU
Intuit Inc.
4.05% of portfolio
 		BBWI
Bath & Body Works Inc.
3.90% of portfolio
 		DKS
Dick's Sporting Goods Inc.
3.72% of portfolio
 		WDAY
Workday Inc.
3.70% of portfolio
 		LPLA
LPL Financial Holdings Inc.
3.62% of portfolio
 		ASML
ASML Holding NV
2.81% of portfolio
 		LYV
Live Nation Inc.
2.71% of portfolio
 		HDB
HDFC Bank Ltd.
2.70% of portfolio
 		BX
Blackstone Group
2.51% of portfolio
2023   Q3$10.4 B META
Meta Platforms Inc.
8.04% of portfolio
 		AMZN
Amazon.com Inc.
6.70% of portfolio
 		MA
Mastercard Inc.
6.67% of portfolio
 		TSM
Taiwan Semiconductor S.A.
6.53% of portfolio
 		MSFT
Microsoft Corp.
5.52% of portfolio
 		WDAY
Workday Inc.
5.34% of portfolio
 		CRM
Salesforce.com
4.89% of portfolio
 		BKNG
Booking Holdings Inc.
4.44% of portfolio
 		UNH
United Health Group Inc.
4.33% of portfolio
 		PTC
PTC Inc.
4.33% of portfolio
 		LPLA
LPL Financial Holdings Inc.
4.22% of portfolio
 		GOOGL
Alphabet Inc.
3.93% of portfolio
 		KKR
KKR & Co. L.P.
3.90% of portfolio
 		TDG
TransDigm Group Inc.
3.55% of portfolio
 		DKS
Dick's Sporting Goods Inc.
3.06% of portfolio
 		LYV
Live Nation Inc.
2.97% of portfolio
 		BBWI
Bath & Body Works Inc.
2.84% of portfolio
 		IBN
ICICI Bank Ltd.
2.68% of portfolio
 		BILL
Bill.com Holdings
2.67% of portfolio
 		HDB
HDFC Bank Ltd.
2.64% of portfolio
2023   Q2$10.9 B MSFT
Microsoft Corp.
7.81% of portfolio
 		TSM
Taiwan Semiconductor S.A.
5.93% of portfolio
 		AMZN
Amazon.com Inc.
5.85% of portfolio
 		BBWI
Bath & Body Works Inc.
5.62% of portfolio
 		RH
RH
5.36% of portfolio
 		WDAY
Workday Inc.
5.34% of portfolio
 		BKNG
Booking Holdings Inc.
5.21% of portfolio
 		TDG
TransDigm Group Inc.
4.78% of portfolio
 		MA
Mastercard Inc.
4.24% of portfolio
 		PTC
PTC Inc.
4.13% of portfolio
 		LPLA
LPL Financial Holdings Inc.
3.99% of portfolio
 		DKS
Dick's Sporting Goods Inc.
3.96% of portfolio
 		UNH
United Health Group Inc.
3.93% of portfolio
 		FND
Floor & Decor Holdings
3.58% of portfolio
 		KKR
KKR & Co. L.P.
3.37% of portfolio
 		LYV
Live Nation Inc.
3.32% of portfolio
 		CRM
Salesforce.com
3.28% of portfolio
 		ASML
ASML Holding NV
3.06% of portfolio
 		V
Visa Inc.
2.70% of portfolio
 		HDB
HDFC Bank Ltd.
2.61% of portfolio
2023   Q1$10.8 B WDAY
Workday Inc.
8.16% of portfolio
 		MSFT
Microsoft Corp.
7.15% of portfolio
 		TSM
Taiwan Semiconductor S.A.
7.05% of portfolio
 		BBWI
Bath & Body Works Inc.
6.63% of portfolio
 		AMZN
Amazon.com Inc.
6.32% of portfolio
 		DKS
Dick's Sporting Goods Inc.
6.00% of portfolio
 		BKNG
Booking Holdings Inc.
5.02% of portfolio
 		TDG
TransDigm Group Inc.
4.77% of portfolio
 		RH
RH
4.00% of portfolio
 		UNH
United Health Group Inc.
3.90% of portfolio
 		CRM
Salesforce.com
3.76% of portfolio
 		MA
Mastercard Inc.
3.53% of portfolio
 		LPLA
LPL Financial Holdings Inc.
3.48% of portfolio
 		KKR
KKR & Co. L.P.
3.19% of portfolio
 		PTC
PTC Inc.
3.18% of portfolio
 		V
Visa Inc.
3.10% of portfolio
 		ASML
ASML Holding NV
2.91% of portfolio
 		FND
Floor & Decor Holdings
2.75% of portfolio
 		EPAM
EPAM Systems Inc.
2.67% of portfolio
 		AMD
Advanced Micro Devices
2.57% of portfolio
2022   Q4$10.5 B BBWI
Bath & Body Works Inc.
8.30% of portfolio
 		MSFT
Microsoft Corp.
8.00% of portfolio
 		AMZN
Amazon.com Inc.
7.73% of portfolio
 		WDAY
Workday Inc.
7.46% of portfolio
 		TSM
Taiwan Semiconductor S.A.
7.39% of portfolio
 		DKS
Dick's Sporting Goods Inc.
5.76% of portfolio
 		UNH
United Health Group Inc.
5.38% of portfolio
 		TDG
TransDigm Group Inc.
4.66% of portfolio
 		RH
RH
4.52% of portfolio
 		MA
Mastercard Inc.
4.47% of portfolio
 		BKNG
Booking Holdings Inc.
4.24% of portfolio
 		LPLA
LPL Financial Holdings Inc.
4.14% of portfolio
 		V
Visa Inc.
4.13% of portfolio
 		TMO
Thermo Fisher Scientific
3.09% of portfolio
 		PTC
PTC Inc.
3.07% of portfolio
 		IBN
ICICI Bank Ltd.
2.44% of portfolio
 		AMD
Advanced Micro Devices
2.42% of portfolio
 		MRNA
Moderna Inc.
2.32% of portfolio
 		HDB
HDFC Bank Ltd.
1.90% of portfolio
 		EPAM
EPAM Systems Inc.
1.89% of portfolio
2022   Q3$10.6 B WDAY
Workday Inc.
7.20% of portfolio
 		AMZN
Amazon.com Inc.
7.12% of portfolio
 		PYPL
PayPal Holdings Inc.
6.73% of portfolio
 		BBWI
Bath & Body Works Inc.
6.34% of portfolio
 		MSFT
Microsoft Corp.
6.22% of portfolio
 		TSM
Taiwan Semiconductor S.A.
6.21% of portfolio
 		DKS
Dick's Sporting Goods Inc.
4.95% of portfolio
 		UNH
United Health Group Inc.
4.47% of portfolio
 		EPAM
EPAM Systems Inc.
4.24% of portfolio
 		TMO
Thermo Fisher Scientific
4.23% of portfolio
 		MA
Mastercard Inc.
4.14% of portfolio
 		RH
RH
4.11% of portfolio
 		LPLA
LPL Financial Holdings Inc.
4.08% of portfolio
 		BKNG
Booking Holdings Inc.
3.93% of portfolio
 		ADSK
Autodesk Inc.
3.91% of portfolio
 		META
Meta Platforms Inc.
3.73% of portfolio
 		TDG
TransDigm Group Inc.
3.65% of portfolio
 		V
Visa Inc.
3.62% of portfolio
 		PTC
PTC Inc.
2.48% of portfolio
 		IBN
ICICI Bank Ltd.
2.31% of portfolio
2022   Q2$10.6 B AMZN
Amazon.com Inc.
8.99% of portfolio
 		MSFT
Microsoft Corp.
8.43% of portfolio
 		META
Meta Platforms Inc.
7.62% of portfolio
 		TSM
Taiwan Semiconductor S.A.
6.89% of portfolio
 		WDAY
Workday Inc.
6.60% of portfolio
 		NOW
ServiceNow Inc.
5.79% of portfolio
 		BBWI
Bath & Body Works Inc.
5.64% of portfolio
 		TMO
Thermo Fisher Scientific
4.77% of portfolio
 		MA
Mastercard Inc.
4.59% of portfolio
 		V
Visa Inc.
4.01% of portfolio
 		LPLA
LPL Financial Holdings Inc.
3.98% of portfolio
 		BKNG
Booking Holdings Inc.
3.91% of portfolio
 		UNH
United Health Group Inc.
3.88% of portfolio
 		DKS
Dick's Sporting Goods Inc.
3.56% of portfolio
 		RH
RH
3.55% of portfolio
 		GOOGL
Alphabet Inc.
3.53% of portfolio
 		EPAM
EPAM Systems Inc.
3.52% of portfolio
 		TEAM
Atlassian Corp.
2.86% of portfolio
 		PYPL
PayPal Holdings Inc.
2.82% of portfolio
 		EQT
EQT Corp.
2.06% of portfolio
2022   Q1$16.8 B MSFT
Microsoft Corp.
9.17% of portfolio
 		AMZN
Amazon.com Inc.
8.65% of portfolio
 		WDAY
Workday Inc.
7.30% of portfolio
 		NOW
ServiceNow Inc.
6.56% of portfolio
 		BBWI
Bath & Body Works Inc.
6.32% of portfolio
 		MA
Mastercard Inc.
5.15% of portfolio
 		TSM
Taiwan Semiconductor S.A.
4.95% of portfolio
 		META
Meta Platforms Inc.
4.85% of portfolio
 		V
Visa Inc.
4.54% of portfolio
 		SHOP
Shopify Inc.
4.16% of portfolio
 		MTCH
Match Group Inc.
4.01% of portfolio
 		SNAP
Snap Inc.
3.95% of portfolio
 		RH
RH
3.32% of portfolio
 		DASH
DoorDash Inc.
3.18% of portfolio
 		DDOG
DATADOG Inc.
2.67% of portfolio
 		UNH
United Health Group Inc.
2.63% of portfolio
 		TEAM
Atlassian Corp.
2.45% of portfolio
 		SQ
Block Inc.
2.41% of portfolio
 		VSCO
Victoria's Secret & Co.
2.26% of portfolio
 		DKS
Dick's Sporting Goods Inc.
2.22% of portfolio
2021   Q4$24.4 B AMZN
Amazon.com Inc.
8.43% of portfolio
 		SHOP
Shopify Inc.
7.84% of portfolio
 		MA
Mastercard Inc.
7.10% of portfolio
 		BBWI
Bath & Body Works Inc.
6.95% of portfolio
 		WDAY
Workday Inc.
6.51% of portfolio
 		MSFT
Microsoft Corp.
6.47% of portfolio
 		SNAP
Snap Inc.
6.45% of portfolio
 		NOW
ServiceNow Inc.
5.33% of portfolio
 		DASH
DoorDash Inc.
5.03% of portfolio
 		MTCH
Match Group Inc.
4.81% of portfolio
 		UNH
United Health Group Inc.
4.72% of portfolio
 		V
Visa Inc.
4.29% of portfolio
 		RH
RH
3.52% of portfolio
 		FTCHQ
Farfetch Ltd
3.35% of portfolio
 		BEKE
KE Holdings Inc.
2.55% of portfolio
 		ADBE
Adobe Inc.
2.54% of portfolio
 		DDOG
DATADOG Inc.
2.39% of portfolio
 		SNOW
Snowflake Inc.
2.29% of portfolio
 		NTES
NetEase.com Inc.
1.86% of portfolio
 		VSCO
Victoria's Secret & Co.
1.86% of portfolio
2021   Q3$29.7 B SHOP
Shopify Inc.
6.53% of portfolio
 		SNAP
Snap Inc.
5.64% of portfolio
 		DASH
DoorDash Inc.
5.18% of portfolio
 		BBWI
Bath & Body Works Inc.
5.16% of portfolio
 		NOW
ServiceNow Inc.
4.60% of portfolio
 		MSFT
Microsoft Corp.
4.46% of portfolio
 		TWTR-OLD
Twitter Inc.
4.38% of portfolio
 		SQ
Block Inc.
4.35% of portfolio
 		MRNA
Moderna Inc.
4.30% of portfolio
 		WDAY
Workday Inc.
4.19% of portfolio
 		MTCH
Match Group Inc.
4.11% of portfolio
 		AMZN
Amazon.com Inc.
4.00% of portfolio
 		UNH
United Health Group Inc.
3.96% of portfolio
 		ADBE
Adobe Inc.
3.79% of portfolio
 		META
Meta Platforms Inc.
3.52% of portfolio
 		COUP-OLD
Coupa Software Inc.
3.37% of portfolio
 		FTCHQ
Farfetch Ltd
2.90% of portfolio
 		RH
RH
2.90% of portfolio
 		DXCM
DexCom Inc.
2.66% of portfolio
 		IBN
ICICI Bank Ltd.
2.53% of portfolio
2021   Q2$31 B SHOP
Shopify Inc.
7.69% of portfolio
 		BBWI
Bath & Body Works Inc.
6.10% of portfolio
 		META
Meta Platforms Inc.
5.59% of portfolio
 		AMZN
Amazon.com Inc.
5.37% of portfolio
 		SNAP
Snap Inc.
5.04% of portfolio
 		MSFT
Microsoft Corp.
4.61% of portfolio
 		ADBE
Adobe Inc.
4.56% of portfolio
 		SQ
Block Inc.
4.49% of portfolio
 		NOW
ServiceNow Inc.
4.37% of portfolio
 		DASH
DoorDash Inc.
4.29% of portfolio
 		MTCH
Match Group Inc.
4.03% of portfolio
 		COUP-OLD
Coupa Software Inc.
3.94% of portfolio
 		UNH
United Health Group Inc.
3.88% of portfolio
 		GPN
Global Payments Inc.
3.35% of portfolio
 		FTCHQ
Farfetch Ltd
3.06% of portfolio
 		MRNA
Moderna Inc.
3.02% of portfolio
 		WDAY
Workday Inc.
2.64% of portfolio
 		DXCM
DexCom Inc.
2.57% of portfolio
 		IBN
ICICI Bank Ltd.
2.38% of portfolio
 		RH
RH
2.23% of portfolio
2021   Q1$27.5 B SHOP
Shopify Inc.
6.88% of portfolio
 		MSFT
Microsoft Corp.
6.70% of portfolio
 		META
Meta Platforms Inc.
6.06% of portfolio
 		BBWI
Bath & Body Works Inc.
5.90% of portfolio
 		AMZN
Amazon.com Inc.
5.41% of portfolio
 		SNAP
Snap Inc.
4.56% of portfolio
 		ADBE
Adobe Inc.
4.53% of portfolio
 		UNH
United Health Group Inc.
4.25% of portfolio
 		COUP-OLD
Coupa Software Inc.
3.84% of portfolio
 		MELI
Mercadolibre Inc.
3.82% of portfolio
 		NFLX
Netflix Inc.
3.46% of portfolio
 		DASH
DoorDash Inc.
3.20% of portfolio
 		GPN
Global Payments Inc.
3.11% of portfolio
 		MTCH
Match Group Inc.
3.10% of portfolio
 		DXCM
DexCom Inc.
3.10% of portfolio
 		NOW
ServiceNow Inc.
2.69% of portfolio
 		FTCHQ
Farfetch Ltd
2.63% of portfolio
 		MA
Mastercard Inc.
2.63% of portfolio
 		SQ
Block Inc.
2.59% of portfolio
 		IBN
ICICI Bank Ltd.
2.51% of portfolio
2020   Q4$27.5 B SHOP
Shopify Inc.
7.39% of portfolio
 		COUP-OLD
Coupa Software Inc.
5.20% of portfolio
 		MSFT
Microsoft Corp.
5.10% of portfolio
 		GPN
Global Payments Inc.
4.96% of portfolio
 		NFLX
Netflix Inc.
4.82% of portfolio
 		UNH
United Health Group Inc.
4.05% of portfolio
 		ADBE
Adobe Inc.
3.67% of portfolio
 		MELI
Mercadolibre Inc.
3.64% of portfolio
 		SNAP
Snap Inc.
3.55% of portfolio
 		BBWI
Bath & Body Works Inc.
3.55% of portfolio
 		META
Meta Platforms Inc.
3.55% of portfolio
 		MA
Mastercard Inc.
3.53% of portfolio
 		SQ
Block Inc.
3.32% of portfolio
 		DOCU
DocuSign Inc.
3.28% of portfolio
 		DXCM
DexCom Inc.
3.05% of portfolio
 		AMZN
Amazon.com Inc.
3.04% of portfolio
 		TEAM
Atlassian Corp.
2.91% of portfolio
 		MTCH
Match Group Inc.
2.89% of portfolio
 		DDOG
DATADOG Inc.
2.54% of portfolio
 		ADSK
Autodesk Inc.
2.46% of portfolio
2020   Q3$23.3 B SHOP
Shopify Inc.
7.57% of portfolio
 		META
Meta Platforms Inc.
6.58% of portfolio
 		MSFT
Microsoft Corp.
5.82% of portfolio
 		UNH
United Health Group Inc.
5.28% of portfolio
 		COUP-OLD
Coupa Software Inc.
5.10% of portfolio
 		PYPL
PayPal Holdings Inc.
5.08% of portfolio
 		GPN
Global Payments Inc.
4.88% of portfolio
 		NFLX
Netflix Inc.
4.84% of portfolio
 		AMZN
Amazon.com Inc.
4.56% of portfolio
 		HUM
Humana Inc.
3.86% of portfolio
 		DOCU
DocuSign Inc.
3.82% of portfolio
 		SQ
Block Inc.
3.75% of portfolio
 		MTCH
Match Group Inc.
3.72% of portfolio
 		NOW
ServiceNow Inc.
3.69% of portfolio
 		BBWI
Bath & Body Works Inc.
3.59% of portfolio
 		ADBE
Adobe Inc.
3.56% of portfolio
 		COF
Capital One Financial
3.17% of portfolio
 		ADSK
Autodesk Inc.
2.91% of portfolio
 		DDOG
DATADOG Inc.
2.87% of portfolio
 		TEAM
Atlassian Corp.
2.57% of portfolio
2020   Q2$19.5 B SHOP
Shopify Inc.
8.16% of portfolio
 		PYPL
PayPal Holdings Inc.
6.60% of portfolio
 		MSFT
Microsoft Corp.
6.52% of portfolio
 		AMZN
Amazon.com Inc.
6.48% of portfolio
 		META
Meta Platforms Inc.
6.14% of portfolio
 		BKNG
Booking Holdings Inc.
4.88% of portfolio
 		HUM
Humana Inc.
4.83% of portfolio
 		UNH
United Health Group Inc.
4.58% of portfolio
 		GPN
Global Payments Inc.
4.17% of portfolio
 		ADBE
Adobe Inc.
4.07% of portfolio
 		TDG
TransDigm Group Inc.
3.97% of portfolio
 		NFLX
Netflix Inc.
3.75% of portfolio
 		NOW
ServiceNow Inc.
3.72% of portfolio
 		MA
Mastercard Inc.
3.35% of portfolio
 		COF
Capital One Financial
3.30% of portfolio
 		DDOG
DATADOG Inc.
3.05% of portfolio
 		COUP-OLD
Coupa Software Inc.
3.02% of portfolio
 		CRM
Salesforce.com
2.93% of portfolio
 		ADSK
Autodesk Inc.
2.57% of portfolio
 		MTCH
Match Group Inc.
2.54% of portfolio
2020   Q1$16.4 B BABA
Alibaba Group Holdings
7.50% of portfolio
 		UNH
United Health Group Inc.
7.00% of portfolio
 		AMZN
Amazon.com Inc.
6.92% of portfolio
 		MSFT
Microsoft Corp.
5.68% of portfolio
 		NFLX
Netflix Inc.
5.51% of portfolio
 		ADBE
Adobe Inc.
5.14% of portfolio
 		GPN
Global Payments Inc.
4.35% of portfolio
 		SHOP
Shopify Inc.
4.24% of portfolio
 		HUM
Humana Inc.
4.13% of portfolio
 		ADSK
Autodesk Inc.
3.82% of portfolio
 		META
Meta Platforms Inc.
3.58% of portfolio
 		MA
Mastercard Inc.
3.40% of portfolio
 		V
Visa Inc.
3.26% of portfolio
 		PYPL
PayPal Holdings Inc.
3.07% of portfolio
 		CP
Canadian Pacific Kansas City
3.05% of portfolio
 		MTCH
Match Group Inc.
2.75% of portfolio
 		NOW
ServiceNow Inc.
2.39% of portfolio
 		EFX
Equifax Inc.
2.31% of portfolio
 		LKNCY
Luckin Coffee Inc.
2.24% of portfolio
 		SQ
Block Inc.
2.13% of portfolio
2019   Q4$18.7 B BABA
Alibaba Group Holdings
7.09% of portfolio
 		UNH
United Health Group Inc.
6.68% of portfolio
 		AMZN
Amazon.com Inc.
5.10% of portfolio
 		ADBE
Adobe Inc.
5.03% of portfolio
 		NFLX
Netflix Inc.
4.32% of portfolio
 		MSFT
Microsoft Corp.
4.28% of portfolio
 		SHOP
Shopify Inc.
3.86% of portfolio
 		MA
Mastercard Inc.
3.82% of portfolio
 		META
Meta Platforms Inc.
3.77% of portfolio
 		TDG
TransDigm Group Inc.
3.76% of portfolio
 		CRM
Salesforce.com
3.61% of portfolio
 		ADSK
Autodesk Inc.
3.23% of portfolio
 		GPN
Global Payments Inc.
3.17% of portfolio
 		UNP
Union Pacific
3.13% of portfolio
 		MELI
Mercadolibre Inc.
2.98% of portfolio
 		SQ
Block Inc.
2.95% of portfolio
 		HUM
Humana Inc.
2.89% of portfolio
 		DPZ
Dominos Pizza Inc.
2.73% of portfolio
 		EFX
Equifax Inc.
2.59% of portfolio
 		CP
Canadian Pacific Kansas City
2.55% of portfolio
2019   Q3$17 B BABA
Alibaba Group Holdings
7.17% of portfolio
 		AMZN
Amazon.com Inc.
6.35% of portfolio
 		UNH
United Health Group Inc.
5.79% of portfolio
 		ADBE
Adobe Inc.
5.78% of portfolio
 		MSFT
Microsoft Corp.
4.96% of portfolio
 		CRM
Salesforce.com
4.46% of portfolio
 		TDG
TransDigm Group Inc.
3.93% of portfolio
 		ADSK
Autodesk Inc.
3.92% of portfolio
 		NFLX
Netflix Inc.
3.71% of portfolio
 		ATVI
Activision Blizzard Inc.
3.50% of portfolio
 		TIF
Tiffany & Co.
3.48% of portfolio
 		GPN
Global Payments Inc.
3.42% of portfolio
 		DPZ
Dominos Pizza Inc.
3.13% of portfolio
 		IQV
IQVIA Holdings Inc.
3.12% of portfolio
 		SQ
Block Inc.
2.92% of portfolio
 		MA
Mastercard Inc.
2.57% of portfolio
 		NOW
ServiceNow Inc.
2.54% of portfolio
 		EFX
Equifax Inc.
2.54% of portfolio
 		SHOP
Shopify Inc.
2.53% of portfolio
 		SPGI
S&P Global Inc.
2.49% of portfolio
2019   Q2$16.1 B ADBE
Adobe Inc.
6.86% of portfolio
 		IQV
IQVIA Holdings Inc.
6.19% of portfolio
 		BABA
Alibaba Group Holdings
6.19% of portfolio
 		MSFT
Microsoft Corp.
6.15% of portfolio
 		UNH
United Health Group Inc.
5.72% of portfolio
 		AMZN
Amazon.com Inc.
5.49% of portfolio
 		UNP
Union Pacific
5.18% of portfolio
 		TDG
TransDigm Group Inc.
4.77% of portfolio
 		WYNN
Wynn Resorts Ltd.
4.17% of portfolio
 		ADSK
Autodesk Inc.
4.04% of portfolio
 		CP
Canadian Pacific Kansas City
3.96% of portfolio
 		TIF
Tiffany & Co.
3.82% of portfolio
 		BKNG
Booking Holdings Inc.
3.75% of portfolio
 		META
Meta Platforms Inc.
3.60% of portfolio
 		DHI
D.R. Horton
3.33% of portfolio
 		ATVI
Activision Blizzard Inc.
3.03% of portfolio
 		SHOP
Shopify Inc.
2.80% of portfolio
 		CRM
Salesforce.com
2.77% of portfolio
 		MA
Mastercard Inc.
2.75% of portfolio
 		SPGI
S&P Global Inc.
2.73% of portfolio
2019   Q1$17.1 B ADBE
Adobe Inc.
7.05% of portfolio
 		AMZN
Amazon.com Inc.
6.78% of portfolio
 		IQV
IQVIA Holdings Inc.
6.48% of portfolio
 		MSFT
Microsoft Corp.
6.23% of portfolio
 		BABA
Alibaba Group Holdings
6.02% of portfolio
 		UNH
United Health Group Inc.
5.17% of portfolio
 		STZ
Constellation Brands
5.06% of portfolio
 		META
Meta Platforms Inc.
4.72% of portfolio
 		TDG
TransDigm Group Inc.
4.41% of portfolio
 		TIF
Tiffany & Co.
4.18% of portfolio
 		WYNN
Wynn Resorts Ltd.
4.15% of portfolio
 		CP
Canadian Pacific Kansas City
3.88% of portfolio
 		MA
Mastercard Inc.
3.84% of portfolio
 		SPGI
S&P Global Inc.
3.80% of portfolio
 		CSX
CSX Corp.
3.50% of portfolio
 		BKNG
Booking Holdings Inc.
3.28% of portfolio
 		UNP
Union Pacific
3.24% of portfolio
 		ADSK
Autodesk Inc.
3.13% of portfolio
 		GOOG
Alphabet Inc. CL C
3.05% of portfolio
 		TRU
TransUnion
2.51% of portfolio
2018   Q4$14.8 B ADBE
Adobe Inc.
7.85% of portfolio
 		AMZN
Amazon.com Inc.
7.54% of portfolio
 		MSFT
Microsoft Corp.
6.94% of portfolio
 		IQV
IQVIA Holdings Inc.
6.06% of portfolio
 		UNH
United Health Group Inc.
6.03% of portfolio
 		META
Meta Platforms Inc.
5.92% of portfolio
 		BABA
Alibaba Group Holdings
5.76% of portfolio
 		STZ
Constellation Brands
5.62% of portfolio
 		ATVI
Activision Blizzard Inc.
4.94% of portfolio
 		CP
Canadian Pacific Kansas City
4.17% of portfolio
 		BKNG
Booking Holdings Inc.
4.12% of portfolio
 		CSX
CSX Corp.
4.06% of portfolio
 		WYNN
Wynn Resorts Ltd.
3.99% of portfolio
 		TRU
TransUnion
3.89% of portfolio
 		MA
Mastercard Inc.
3.76% of portfolio
 		TIF
Tiffany & Co.
3.69% of portfolio
 		TDG
TransDigm Group Inc.
3.51% of portfolio
 		ADSK
Autodesk Inc.
3.34% of portfolio
 		PYPL
PayPal Holdings Inc.
3.28% of portfolio
 		NOW
ServiceNow Inc.
3.18% of portfolio
2018   Q3$19.4 B BABA
Alibaba Group Holdings
8.25% of portfolio
 		MSFT
Microsoft Corp.
8.08% of portfolio
 		ADBE
Adobe Inc.
7.53% of portfolio
 		ATVI
Activision Blizzard Inc.
6.91% of portfolio
 		IQV
IQVIA Holdings Inc.
5.61% of portfolio
 		GOOG
Alphabet Inc. CL C
5.47% of portfolio
 		EA
Electronic Arts
4.87% of portfolio
 		STZ
Constellation Brands
4.78% of portfolio
 		CP
Canadian Pacific Kansas City
4.25% of portfolio
 		UNH
United Health Group Inc.
4.13% of portfolio
 		WYNN
Wynn Resorts Ltd.
3.89% of portfolio
 		TRU
TransUnion
3.72% of portfolio
 		AMZN
Amazon.com Inc.
3.59% of portfolio
 		CSX
CSX Corp.
3.59% of portfolio
 		TDG
TransDigm Group Inc.
3.38% of portfolio
 		META
Meta Platforms Inc.
3.27% of portfolio
 		NVDA
NVIDIA Corp.
3.23% of portfolio
 		NOW
ServiceNow Inc.
3.19% of portfolio
 		MELI
Mercadolibre Inc.
3.13% of portfolio
 		FDC
First Data Corp.
2.76% of portfolio
2018   Q2$18.9 B MSFT
Microsoft Corp.
6.52% of portfolio
 		BABA
Alibaba Group Holdings
6.27% of portfolio
 		ADBE
Adobe Inc.
5.75% of portfolio
 		ATVI
Activision Blizzard Inc.
5.75% of portfolio
 		BKNG
Booking Holdings Inc.
5.69% of portfolio
 		UNH
United Health Group Inc.
5.35% of portfolio
 		IQV
IQVIA Holdings Inc.
5.34% of portfolio
 		EA
Electronic Arts
4.71% of portfolio
 		STZ
Constellation Brands
4.49% of portfolio
 		CSX
CSX Corp.
4.45% of portfolio
 		GOOG
Alphabet Inc. CL C
3.88% of portfolio
 		TRU
TransUnion
3.84% of portfolio
 		AMZN
Amazon.com Inc.
3.82% of portfolio
 		META
Meta Platforms Inc.
3.50% of portfolio
 		MELI
Mercadolibre Inc.
3.43% of portfolio
 		WYNN
Wynn Resorts Ltd.
3.36% of portfolio
 		DLTR
Dollar Tree Inc.
3.25% of portfolio
 		TDG
TransDigm Group Inc.
3.22% of portfolio
 		SBAC
SBA Communications Corp.
3.06% of portfolio
 		PYPL
PayPal Holdings Inc.
2.78% of portfolio
2018   Q1$19.7 B META
Meta Platforms Inc.
6.23% of portfolio
 		ADBE
Adobe Inc.
6.18% of portfolio
 		STZ
Constellation Brands
5.60% of portfolio
 		MSFT
Microsoft Corp.
5.58% of portfolio
 		BABA
Alibaba Group Holdings
5.56% of portfolio
 		BKNG
Booking Holdings Inc.
5.35% of portfolio
 		ATVI
Activision Blizzard Inc.
4.97% of portfolio
 		IQV
IQVIA Holdings Inc.
4.91% of portfolio
 		UNH
United Health Group Inc.
4.61% of portfolio
 		EA
Electronic Arts
4.38% of portfolio
 		AMZN
Amazon.com Inc.
4.24% of portfolio
 		PYPL
PayPal Holdings Inc.
4.10% of portfolio
 		CSX
CSX Corp.
3.77% of portfolio
 		GOOG
Alphabet Inc. CL C
3.40% of portfolio
 		TRU
TransUnion
3.38% of portfolio
 		AVGO
Broadcom Inc.
3.27% of portfolio
 		DLTR
Dollar Tree Inc.
3.05% of portfolio
 		MELI
Mercadolibre Inc.
2.93% of portfolio
 		SBAC
SBA Communications Corp.
2.93% of portfolio
 		TSM
Taiwan Semiconductor S.A.
2.74% of portfolio
2017   Q4$19.1 B STZ
Constellation Brands
5.81% of portfolio
 		BABA
Alibaba Group Holdings
5.72% of portfolio
 		ATVI
Activision Blizzard Inc.
5.67% of portfolio
 		ADBE
Adobe Inc.
5.30% of portfolio
 		IQV
IQVIA Holdings Inc.
5.05% of portfolio
 		BKNG
Booking Holdings Inc.
5.01% of portfolio
 		AMZN
Amazon.com Inc.
4.70% of portfolio
 		MSFT
Microsoft Corp.
4.28% of portfolio
 		UNH
United Health Group Inc.
4.19% of portfolio
 		META
Meta Platforms Inc.
4.06% of portfolio
 		EA
Electronic Arts
4.01% of portfolio
 		PYPL
PayPal Holdings Inc.
3.65% of portfolio
 		AVGO
Broadcom Inc.
3.30% of portfolio
 		GOOG
Alphabet Inc. CL C
3.27% of portfolio
 		CSX
CSX Corp.
3.27% of portfolio
 		BUD
Anheuser-Busch InBev
3.06% of portfolio
 		CHTR
Charter Communications
3.03% of portfolio
 		TRU
TransUnion
3.03% of portfolio
 		BLK
BlackRock Inc.
2.96% of portfolio
 		NOW
ServiceNow Inc.
2.80% of portfolio
2017   Q3$20.3 B BABA
Alibaba Group Holdings
7.50% of portfolio
 		STZ
Constellation Brands
6.95% of portfolio
 		CHTR
Charter Communications
6.55% of portfolio
 		ATVI
Activision Blizzard Inc.
6.30% of portfolio
 		CMCSA
Comcast Corp.
6.18% of portfolio
 		AVGO
Broadcom Inc.
6.08% of portfolio
 		IQV
IQVIA Holdings Inc.
4.71% of portfolio
 		UNH
United Health Group Inc.
4.25% of portfolio
 		META
Meta Platforms Inc.
4.24% of portfolio
 		MSFT
Microsoft Corp.
4.16% of portfolio
 		BKNG
Booking Holdings Inc.
3.67% of portfolio
 		EXPE
Expedia Group Inc.
3.30% of portfolio
 		MA
Mastercard Inc.
3.12% of portfolio
 		NOW
ServiceNow Inc.
3.05% of portfolio
 		ICE
Intercontinental Exchange Inc.
2.96% of portfolio
 		ADBE
Adobe Inc.
2.89% of portfolio
 		CRM
Salesforce.com
2.89% of portfolio
 		TRU
TransUnion
2.87% of portfolio
 		EQIX
Equinix Inc.
2.80% of portfolio
 		TV
Grupo Televisa SA
2.53% of portfolio
2017   Q2$19.7 B BABA
Alibaba Group Holdings
8.36% of portfolio
 		CHTR
Charter Communications
7.46% of portfolio
 		STZ
Constellation Brands
6.48% of portfolio
 		AVGO
Broadcom Inc.
6.31% of portfolio
 		ATVI
Activision Blizzard Inc.
6.31% of portfolio
 		CPAY
Corpay Inc.
4.81% of portfolio
 		META
Meta Platforms Inc.
4.74% of portfolio
 		IQV
IQVIA Holdings Inc.
4.58% of portfolio
 		CMCSA
Comcast Corp.
4.05% of portfolio
 		EXPE
Expedia Group Inc.
3.43% of portfolio
 		MSFT
Microsoft Corp.
3.40% of portfolio
 		ORLY
O'Reilly Automotive
3.16% of portfolio
 		GEN
Gen Digital Inc.
3.03% of portfolio
 		MA
Mastercard Inc.
2.87% of portfolio
 		CSX
CSX Corp.
2.86% of portfolio
 		ADBE
Adobe Inc.
2.83% of portfolio
 		EQIX
Equinix Inc.
2.78% of portfolio
 		TV
Grupo Televisa SA
2.55% of portfolio
 		TMUS
T-Mobile US Inc.
2.20% of portfolio
 		ICE
Intercontinental Exchange Inc.
2.13% of portfolio
2017   Q1$19 B CHTR
Charter Communications
9.77% of portfolio
 		ATVI
Activision Blizzard Inc.
6.51% of portfolio
 		STZ
Constellation Brands
6.19% of portfolio
 		AVGO
Broadcom Inc.
6.13% of portfolio
 		BABA
Alibaba Group Holdings
5.62% of portfolio
 		NKE
NIKE Inc.
5.62% of portfolio
 		GEN
Gen Digital Inc.
4.27% of portfolio
 		META
Meta Platforms Inc.
3.82% of portfolio
 		EA
Electronic Arts
3.67% of portfolio
 		CPAY
Corpay Inc.
3.59% of portfolio
 		CSX
CSX Corp.
3.52% of portfolio
 		ADBE
Adobe Inc.
3.30% of portfolio
 		EQIX
Equinix Inc.
3.02% of portfolio
 		V
Visa Inc.
2.88% of portfolio
 		BKNG
Booking Holdings Inc.
2.78% of portfolio
 		CMCSA
Comcast Corp.
2.72% of portfolio
 		DLTR
Dollar Tree Inc.
2.70% of portfolio
 		IQV
IQVIA Holdings Inc.
2.53% of portfolio
 		TV
Grupo Televisa SA
2.52% of portfolio
 		ULTA
Ulta Beauty Inc.
2.29% of portfolio
2016   Q4$19.1 B CHTR
Charter Communications
7.11% of portfolio
 		STZ
Constellation Brands
5.12% of portfolio
 		AMZN
Amazon.com Inc.
5.07% of portfolio
 		MSFT
Microsoft Corp.
4.95% of portfolio
 		ATVI
Activision Blizzard Inc.
3.90% of portfolio
 		EA
Electronic Arts
3.88% of portfolio
 		NKE
NIKE Inc.
3.83% of portfolio
 		DLTR
Dollar Tree Inc.
3.76% of portfolio
 		EQIX
Equinix Inc.
3.58% of portfolio
 		META
Meta Platforms Inc.
3.57% of portfolio
 		BABA
Alibaba Group Holdings
3.50% of portfolio
 		CPAY
Corpay Inc.
3.47% of portfolio
 		AVGO
Broadcom Inc.
3.30% of portfolio
 		ADBE
Adobe Inc.
2.71% of portfolio
 		V
Visa Inc.
2.68% of portfolio
 		WMB
Williams Cos.
2.66% of portfolio
 		TDG
TransDigm Group Inc.
2.64% of portfolio
 		PYPL
PayPal Holdings Inc.
2.58% of portfolio
 		PNC
PNC Financial Services
2.57% of portfolio
 		EXPE
Expedia Group Inc.
2.56% of portfolio
2016   Q3$22.4 B CHTR
Charter Communications
6.34% of portfolio
 		DLTR
Dollar Tree Inc.
5.44% of portfolio
 		EBAY
eBay Inc.
4.88% of portfolio
 		AMZN
Amazon.com Inc.
4.84% of portfolio
 		STZ
Constellation Brands
4.15% of portfolio
 		NKE
NIKE Inc.
4.11% of portfolio
 		CPAY
Corpay Inc.
3.79% of portfolio
 		BKNG
Booking Holdings Inc.
3.78% of portfolio
 		MSFT
Microsoft Corp.
3.74% of portfolio
 		EXPE
Expedia Group Inc.
3.73% of portfolio
 		META
Meta Platforms Inc.
3.58% of portfolio
 		ATVI
Activision Blizzard Inc.
3.43% of portfolio
 		EA
Electronic Arts
3.29% of portfolio
 		ULTA
Ulta Beauty Inc.
3.14% of portfolio
 		GOOG
Alphabet Inc. CL C
2.93% of portfolio
 		TDG
TransDigm Group Inc.
2.91% of portfolio
 		EQIX
Equinix Inc.
2.90% of portfolio
 		MNST
Monster Beverage Corp.
2.73% of portfolio
 		YUM
Yum! Brands Inc.
2.55% of portfolio
 		VMC
Vulcan Materials
2.54% of portfolio
2016   Q2$21.6 B BKNG
Booking Holdings Inc.
6.47% of portfolio
 		DLTR
Dollar Tree Inc.
5.82% of portfolio
 		META
Meta Platforms Inc.
5.78% of portfolio
 		AMZN
Amazon.com Inc.
5.44% of portfolio
 		STZ
Constellation Brands
5.10% of portfolio
 		CHTR
Charter Communications
5.07% of portfolio
 		NKE
NIKE Inc.
4.67% of portfolio
 		MSFT
Microsoft Corp.
4.09% of portfolio
 		EQIX
Equinix Inc.
3.84% of portfolio
 		YUM
Yum! Brands Inc.
3.82% of portfolio
 		CPAY
Corpay Inc.
3.81% of portfolio
 		ULTA
Ulta Beauty Inc.
3.76% of portfolio
 		MNST
Monster Beverage Corp.
3.08% of portfolio
 		TDG
TransDigm Group Inc.
2.90% of portfolio
 		GOOG
Alphabet Inc. CL C
2.83% of portfolio
 		NOC
Northrop Grumman Corp.
2.72% of portfolio
 		BUD
Anheuser-Busch InBev
2.56% of portfolio
 		LULU
Lululemon Athletica Inc.
2.53% of portfolio
 		V
Visa Inc.
2.47% of portfolio
 		LNG
Cheniere Energy Inc.
2.24% of portfolio
2016   Q1$19.7 B MSFT
Microsoft Corp.
7.24% of portfolio
 		META
Meta Platforms Inc.
6.63% of portfolio
 		AMZN
Amazon.com Inc.
6.00% of portfolio
 		BKNG
Booking Holdings Inc.
5.19% of portfolio
 		DLTR
Dollar Tree Inc.
4.87% of portfolio
 		CHTR
Charter Communications
4.73% of portfolio
 		STZ
Constellation Brands
4.53% of portfolio
 		CPAY
Corpay Inc.
4.47% of portfolio
 		EQIX
Equinix Inc.
3.91% of portfolio
 		NKE
NIKE Inc.
3.75% of portfolio
 		ULTA
Ulta Beauty Inc.
3.32% of portfolio
 		NOC
Northrop Grumman Corp.
3.27% of portfolio
 		JD
JD.com Inc.
2.98% of portfolio
 		GOOG
Alphabet Inc. CL C
2.95% of portfolio
 		V
Visa Inc.
2.91% of portfolio
 		GOOGL
Alphabet Inc.
2.51% of portfolio
 		AGN
Allergan Plc
2.44% of portfolio
 		MA
Mastercard Inc.
2.44% of portfolio
 		ADBE
Adobe Inc.
2.42% of portfolio
 		TDG
TransDigm Group Inc.
2.37% of portfolio
2015   Q4$22.4 B MSFT
Microsoft Corp.
6.74% of portfolio
 		AMZN
Amazon.com Inc.
6.65% of portfolio
 		BKNG
Booking Holdings Inc.
4.74% of portfolio
 		META
Meta Platforms Inc.
4.56% of portfolio
 		DLTR
Dollar Tree Inc.
4.54% of portfolio
 		V
Visa Inc.
4.41% of portfolio
 		CPAY
Corpay Inc.
4.10% of portfolio
 		JD
JD.com Inc.
3.88% of portfolio
 		CHTR
Charter Communications
3.86% of portfolio
 		STZ
Constellation Brands
3.40% of portfolio
 		WMB
Williams Cos.
3.31% of portfolio
 		NKE
NIKE Inc.
3.20% of portfolio
 		ILMN
Illumina Inc.
3.09% of portfolio
 		ULTA
Ulta Beauty Inc.
2.95% of portfolio
 		EQIX
Equinix Inc.
2.84% of portfolio
 		MA
Mastercard Inc.
2.67% of portfolio
 		BHC
Bausch Health
2.64% of portfolio
 		WBA
Walgreens Boots Alliance
2.58% of portfolio
 		TDG
TransDigm Group Inc.
2.21% of portfolio
 		LNG
Cheniere Energy Inc.
2.09% of portfolio
2015   Q3$22.4 B BHC
Bausch Health
5.94% of portfolio
 		BKNG
Booking Holdings Inc.
5.48% of portfolio
 		CHTR
Charter Communications
5.14% of portfolio
 		JD
JD.com Inc.
5.06% of portfolio
 		MSFT
Microsoft Corp.
5.01% of portfolio
 		AMZN
Amazon.com Inc.
4.43% of portfolio
 		META
Meta Platforms Inc.
4.30% of portfolio
 		CPAY
Corpay Inc.
3.95% of portfolio
 		MA
Mastercard Inc.
3.36% of portfolio
 		EQIX
Equinix Inc.
3.24% of portfolio
 		AGN
Allergan Plc
3.17% of portfolio
 		NKE
NIKE Inc.
3.13% of portfolio
 		V
Visa Inc.
3.04% of portfolio
 		WMB
Williams Cos.
2.91% of portfolio
 		ILMN
Illumina Inc.
2.83% of portfolio
 		EA
Electronic Arts
2.66% of portfolio
 		LNG
Cheniere Energy Inc.
2.64% of portfolio
 		STZ
Constellation Brands
2.62% of portfolio
 		DVA
DaVita HealthCare Partners
2.56% of portfolio
 		WBA
Walgreens Boots Alliance
2.52% of portfolio
2015   Q2$22.5 B JD
JD.com Inc.
6.35% of portfolio
 		BKNG
Booking Holdings Inc.
6.10% of portfolio
 		ILMN
Illumina Inc.
5.51% of portfolio
 		BHC
Bausch Health
5.24% of portfolio
 		MSFT
Microsoft Corp.
5.22% of portfolio
 		CHTR
Charter Communications
4.09% of portfolio
 		MA
Mastercard Inc.
4.04% of portfolio
 		CPAY
Corpay Inc.
3.80% of portfolio
 		META
Meta Platforms Inc.
3.72% of portfolio
 		WMB
Williams Cos.
3.55% of portfolio
 		NKE
NIKE Inc.
3.43% of portfolio
 		EQIX
Equinix Inc.
3.39% of portfolio
 		ADBE
Adobe Inc.
3.33% of portfolio
 		AGN
Allergan Plc
3.10% of portfolio
 		V
Visa Inc.
2.66% of portfolio
 		LNG
Cheniere Energy Inc.
2.44% of portfolio
 		SBAC
SBA Communications Corp.
2.34% of portfolio
 		TDG
TransDigm Group Inc.
2.21% of portfolio
 		HOUS
Anywhere Real Estate Inc.
2.16% of portfolio
 		LOW
Lowe's Cos.
2.10% of portfolio
2015   Q1$23.4 B BKNG
Booking Holdings Inc.
6.61% of portfolio
 		JD
JD.com Inc.
4.83% of portfolio
 		MA
Mastercard Inc.
4.78% of portfolio
 		BHC
Bausch Health
4.72% of portfolio
 		BIDU
Baidu Inc.
4.70% of portfolio
 		ADBE
Adobe Inc.
3.80% of portfolio
 		AAPL
Apple Inc.
3.63% of portfolio
 		CPAY
Corpay Inc.
3.53% of portfolio
 		SBAC
SBA Communications Corp.
3.23% of portfolio
 		CPRI
Capri Holdings Ltd
3.15% of portfolio
 		META
Meta Platforms Inc.
2.85% of portfolio
 		CHTR
Charter Communications
2.74% of portfolio
 		EQIX
Equinix Inc.
2.71% of portfolio
 		V
Visa Inc.
2.66% of portfolio
 		LNG
Cheniere Energy Inc.
2.65% of portfolio
 		WMB
Williams Cos.
2.59% of portfolio
 		MSFT
Microsoft Corp.
2.51% of portfolio
 		CP
Canadian Pacific Kansas City
2.45% of portfolio
 		NKE
NIKE Inc.
2.43% of portfolio
 		ACT-OLD
Actavis plc
2.33% of portfolio
2014   Q4$23.4 B MA
Mastercard Inc.
7.38% of portfolio
 		BIDU
Baidu Inc.
6.85% of portfolio
 		BKNG
Booking Holdings Inc.
6.81% of portfolio
 		BHC
Bausch Health
5.05% of portfolio
 		META
Meta Platforms Inc.
4.50% of portfolio
 		CPAY
Corpay Inc.
4.09% of portfolio
 		DG
Dollar General
3.90% of portfolio
 		ADBE
Adobe Inc.
3.78% of portfolio
 		EQIX
Equinix Inc.
3.77% of portfolio
 		ADSK
Autodesk Inc.
3.71% of portfolio
 		CPRI
Capri Holdings Ltd
3.55% of portfolio
 		SBAC
SBA Communications Corp.
3.45% of portfolio
 		CP
Canadian Pacific Kansas City
2.95% of portfolio
 		SPGI
S&P Global Inc.
2.80% of portfolio
 		TIF
Tiffany & Co.
2.76% of portfolio
 		CTSH
Cognizant Technology Solutions
2.75% of portfolio
 		LNG
Cheniere Energy Inc.
2.65% of portfolio
 		CHTR
Charter Communications
2.33% of portfolio
 		HOUS
Anywhere Real Estate Inc.
1.98% of portfolio
 		V
Visa Inc.
1.98% of portfolio
2014   Q3$25 B BIDU
Baidu Inc.
7.14% of portfolio
 		BHC
Bausch Health
5.76% of portfolio
 		CPRI
Capri Holdings Ltd
4.55% of portfolio
 		MA
Mastercard Inc.
4.45% of portfolio
 		MSFT
Microsoft Corp.
4.14% of portfolio
 		SBAC
SBA Communications Corp.
3.84% of portfolio
 		CPAY
Corpay Inc.
3.74% of portfolio
 		SPGI
S&P Global Inc.
3.66% of portfolio
 		BKNG
Booking Holdings Inc.
3.38% of portfolio
 		CTSH
Cognizant Technology Solutions
3.23% of portfolio
 		GAP
Gap Inc.
3.21% of portfolio
 		ADBE
Adobe Inc.
3.17% of portfolio
 		CMCSA
Comcast Corp.
2.96% of portfolio
 		CP
Canadian Pacific Kansas City
2.91% of portfolio
 		META
Meta Platforms Inc.
2.73% of portfolio
 		TIF
Tiffany & Co.
2.64% of portfolio
 		CCI
Crown Castle International Corp.
2.52% of portfolio
 		ULTA
Ulta Beauty Inc.
2.46% of portfolio
 		ACT-OLD
Actavis plc
2.39% of portfolio
 		DG
Dollar General
2.27% of portfolio
2014   Q2$24 B BIDU
Baidu Inc.
6.94% of portfolio
 		CTSH
Cognizant Technology Solutions
6.01% of portfolio
 		BHC
Bausch Health
5.30% of portfolio
 		MSFT
Microsoft Corp.
4.58% of portfolio
 		SPGI
S&P Global Inc.
4.32% of portfolio
 		CPRI
Capri Holdings Ltd
4.26% of portfolio
 		SBAC
SBA Communications Corp.
3.71% of portfolio
 		MA
Mastercard Inc.
3.60% of portfolio
 		ADBE
Adobe Inc.
3.58% of portfolio
 		BKNG
Booking Holdings Inc.
3.47% of portfolio
 		GAP
Gap Inc.
3.34% of portfolio
 		CPAY
Corpay Inc.
3.31% of portfolio
 		LBTYK
Liberty Global Ltd CL C
2.79% of portfolio
 		CMCSA
Comcast Corp.
2.72% of portfolio
 		ICE
Intercontinental Exchange Inc.
2.68% of portfolio
 		CP
Canadian Pacific Kansas City
2.65% of portfolio
 		CCI
Crown Castle International Corp.
2.61% of portfolio
 		FOXA
Fox Corporation
2.35% of portfolio
 		ACT-OLD
Actavis plc
2.30% of portfolio
 		HOUS
Anywhere Real Estate Inc.
2.14% of portfolio
2014   Q1$22.3 B CTSH
Cognizant Technology Solutions
6.53% of portfolio
 		BIDU
Baidu Inc.
5.35% of portfolio
 		BHC
Bausch Health
5.22% of portfolio
 		MSFT
Microsoft Corp.
5.17% of portfolio
 		LBTYK
Liberty Global Ltd CL C
3.89% of portfolio
 		CPRI
Capri Holdings Ltd
3.79% of portfolio
 		SPGI
S&P Global Inc.
3.77% of portfolio
 		SBAC
SBA Communications Corp.
3.66% of portfolio
 		GAP
Gap Inc.
3.59% of portfolio
 		CCI
Crown Castle International Corp.
3.00% of portfolio
 		MON-OLD
Monsanto Co.
2.95% of portfolio
 		ICE
Intercontinental Exchange Inc.
2.95% of portfolio
 		FOXA
Fox Corporation
2.87% of portfolio
 		CPAY
Corpay Inc.
2.82% of portfolio
 		DG
Dollar General
2.58% of portfolio
 		HOUS
Anywhere Real Estate Inc.
2.52% of portfolio
 		MA
Mastercard Inc.
2.45% of portfolio
 		QCOM
QUALCOMM Inc.
2.31% of portfolio
 		ULTA
Ulta Beauty Inc.
2.28% of portfolio
 		ACT-OLD
Actavis plc
2.20% of portfolio
2013   Q4$21.6 B DG
Dollar General
5.29% of portfolio
 		CTSH
Cognizant Technology Solutions
5.03% of portfolio
 		BKNG
Booking Holdings Inc.
4.77% of portfolio
 		BIDU
Baidu Inc.
4.45% of portfolio
 		MSFT
Microsoft Corp.
4.42% of portfolio
 		BHC
Bausch Health
4.22% of portfolio
 		QCOM
QUALCOMM Inc.
3.75% of portfolio
 		GAP
Gap Inc.
3.73% of portfolio
 		MA
Mastercard Inc.
3.68% of portfolio
 		CCI
Crown Castle International Corp.
3.53% of portfolio
 		FOXA
Fox Corporation
3.33% of portfolio
 		MON-OLD
Monsanto Co.
3.15% of portfolio
 		HOUS
Anywhere Real Estate Inc.
2.85% of portfolio
 		DVA
DaVita HealthCare Partners
2.49% of portfolio
 		CPAY
Corpay Inc.
2.37% of portfolio
 		CPRI
Capri Holdings Ltd
2.30% of portfolio
 		ICE
Intercontinental Exchange Inc.
2.29% of portfolio
 		SBAC
SBA Communications Corp.
2.27% of portfolio
 		ULTA
Ulta Beauty Inc.
2.15% of portfolio
 		WYN-OLD
Wyndham Worldwide
2.15% of portfolio
2013   Q3$21 B DG
Dollar General
4.77% of portfolio
 		CTSH
Cognizant Technology Solutions
4.69% of portfolio
 		BKNG
Booking Holdings Inc.
4.68% of portfolio
 		MON-OLD
Monsanto Co.
4.66% of portfolio
 		GAP
Gap Inc.
4.29% of portfolio
 		QCOM
QUALCOMM Inc.
4.28% of portfolio
 		BIDU
Baidu Inc.
3.92% of portfolio
 		BHC
Bausch Health
3.87% of portfolio
 		CPRI
Capri Holdings Ltd
3.41% of portfolio
 		FOXA
Fox Corporation
2.99% of portfolio
 		EBAY
eBay Inc.
2.91% of portfolio
 		ULTA
Ulta Beauty Inc.
2.70% of portfolio
 		HOUS
Anywhere Real Estate Inc.
2.46% of portfolio
 		CPAY
Corpay Inc.
2.40% of portfolio
 		MJN
Mead Johnson Nutrition Co.
2.35% of portfolio
 		MA
Mastercard Inc.
2.25% of portfolio
 		AXP
American Express
2.25% of portfolio
 		CCI
Crown Castle International Corp.
2.21% of portfolio
 		DLTR
Dollar Tree Inc.
2.09% of portfolio
 		CME
CME Group
1.98% of portfolio
2013   Q2$19.5 B BKNG
Booking Holdings Inc.
7.29% of portfolio
 		CTSH
Cognizant Technology Solutions
4.25% of portfolio
 		GOOGL
Alphabet Inc.
4.25% of portfolio
 		EBAY
eBay Inc.
4.12% of portfolio
 		GAP
Gap Inc.
4.10% of portfolio
 		BHC
Bausch Health
3.54% of portfolio
 		DG
Dollar General
3.53% of portfolio
 		MON-OLD
Monsanto Co.
3.15% of portfolio
 		ISRG
Intuitive Surgical Inc.
3.01% of portfolio
 		MJN
Mead Johnson Nutrition Co.
3.01% of portfolio
 		QCOM
QUALCOMM Inc.
2.92% of portfolio
 		CPRI
Capri Holdings Ltd
2.84% of portfolio
 		ULTA
Ulta Beauty Inc.
2.63% of portfolio
 		KMI
Kinder Morgan
2.41% of portfolio
 		RL
Ralph Lauren Corp.
2.34% of portfolio
 		CHTR
Charter Communications
2.33% of portfolio
 		NWSA
News Corp.
2.30% of portfolio
 		CPAY
Corpay Inc.
2.23% of portfolio
 		HTZ
Hertz Global Hldgs Inc.
2.21% of portfolio
 		DLTR
Dollar Tree Inc.
2.10% of portfolio
2013   Q1$18.6 B BKNG
Booking Holdings Inc.
6.54% of portfolio
 		GOOGL
Alphabet Inc.
5.96% of portfolio
 		DG
Dollar General
3.87% of portfolio
 		GAP
Gap Inc.
3.83% of portfolio
 		MON-OLD
Monsanto Co.
3.78% of portfolio
 		NWSA
News Corp.
3.61% of portfolio
 		CTSH
Cognizant Technology Solutions
3.56% of portfolio
 		DLTR
Dollar Tree Inc.
3.12% of portfolio
 		VRSN
Verisign Inc.
3.02% of portfolio
 		QCOM
QUALCOMM Inc.
2.98% of portfolio
 		MJN
Mead Johnson Nutrition Co.
2.92% of portfolio
 		KMI
Kinder Morgan
2.87% of portfolio
 		RL
Ralph Lauren Corp.
2.87% of portfolio
 		EBAY
eBay Inc.
2.83% of portfolio
 		EQIX
Equinix Inc.
2.66% of portfolio
 		ULTA
Ulta Beauty Inc.
2.62% of portfolio
 		CHTR
Charter Communications
2.56% of portfolio
 		CPRI
Capri Holdings Ltd
2.46% of portfolio
 		ISRG
Intuitive Surgical Inc.
2.34% of portfolio
 		TDG
TransDigm Group Inc.
2.10% of portfolio
2012   Q4$15.5 B GOOGL
Alphabet Inc.
7.09% of portfolio
 		BKNG
Booking Holdings Inc.
7.09% of portfolio
 		CTSH
Cognizant Technology Solutions
5.20% of portfolio
 		RL
Ralph Lauren Corp.
3.81% of portfolio
 		DG
Dollar General
3.80% of portfolio
 		EQIX
Equinix Inc.
3.72% of portfolio
 		GAP
Gap Inc.
3.71% of portfolio
 		VRSN
Verisign Inc.
3.70% of portfolio
 		KMI
Kinder Morgan
3.43% of portfolio
 		MON-OLD
Monsanto Co.
3.27% of portfolio
 		DLTR
Dollar Tree Inc.
3.09% of portfolio
 		CPRI
Capri Holdings Ltd
2.97% of portfolio
 		EBAY
eBay Inc.
2.81% of portfolio
 		NWSA
News Corp.
2.79% of portfolio
 		ULTA
Ulta Beauty Inc.
2.69% of portfolio
 		QCOM
QUALCOMM Inc.
2.60% of portfolio
 		TDG
TransDigm Group Inc.
2.56% of portfolio
 		LULU
Lululemon Athletica Inc.
2.38% of portfolio
 		CHTR
Charter Communications
2.37% of portfolio
 		V
Visa Inc.
2.20% of portfolio
2012   Q3$15.5 B BKNG
Booking Holdings Inc.
5.66% of portfolio
 		GOOGL
Alphabet Inc.
5.20% of portfolio
 		CTSH
Cognizant Technology Solutions
4.78% of portfolio
 		RL
Ralph Lauren Corp.
4.22% of portfolio
 		KMI
Kinder Morgan
4.04% of portfolio
 		EBAY
eBay Inc.
3.92% of portfolio
 		GAP
Gap Inc.
3.78% of portfolio
 		MON-OLD
Monsanto Co.
3.72% of portfolio
 		AAPL
Apple Inc.
3.47% of portfolio
 		TDG
TransDigm Group Inc.
3.18% of portfolio
 		DIS
Walt Disney Co.
3.16% of portfolio
 		CPRI
Capri Holdings Ltd
3.01% of portfolio
 		SLB
Schlumberger Ltd.
3.00% of portfolio
 		VRSN
Verisign Inc.
2.97% of portfolio
 		QCOM
QUALCOMM Inc.
2.77% of portfolio
 		EQIX
Equinix Inc.
2.77% of portfolio
 		DG
Dollar General
2.76% of portfolio
 		V
Visa Inc.
2.52% of portfolio
 		LULU
Lululemon Athletica Inc.
2.28% of portfolio
 		NTES
NetEase.com Inc.
2.25% of portfolio
2012   Q2$15.7 B AAPL
Apple Inc.
5.29% of portfolio
 		GOOGL
Alphabet Inc.
4.93% of portfolio
 		BKNG
Booking Holdings Inc.
4.77% of portfolio
 		MON-OLD
Monsanto Co.
4.24% of portfolio
 		RL
Ralph Lauren Corp.
3.92% of portfolio
 		GAP
Gap Inc.
3.74% of portfolio
 		EBAY
eBay Inc.
3.71% of portfolio
 		DIS
Walt Disney Co.
3.65% of portfolio
 		KMI
Kinder Morgan
3.61% of portfolio
 		EQIX
Equinix Inc.
3.53% of portfolio
 		NTES
NetEase.com Inc.
3.29% of portfolio
 		CTSH
Cognizant Technology Solutions
3.24% of portfolio
 		TDG
TransDigm Group Inc.
2.97% of portfolio
 		CCI
Crown Castle International Corp.
2.92% of portfolio
 		QCOM
QUALCOMM Inc.
2.72% of portfolio
 		V
Visa Inc.
2.59% of portfolio
 		ESRX
Express Scripts
2.54% of portfolio
 		CPRI
Capri Holdings Ltd
2.45% of portfolio
 		WYN-OLD
Wyndham Worldwide
2.44% of portfolio
 		OII
Oceaneering Int'l
2.21% of portfolio
2012   Q1$15.5 B EP
El Paso Corp.
6.03% of portfolio
 		GOOGL
Alphabet Inc.
5.40% of portfolio
 		BKNG
Booking Holdings Inc.
5.00% of portfolio
 		AAPL
Apple Inc.
4.87% of portfolio
 		DG
Dollar General
4.00% of portfolio
 		V
Visa Inc.
3.45% of portfolio
 		RL
Ralph Lauren Corp.
3.40% of portfolio
 		QCOM
QUALCOMM Inc.
3.37% of portfolio
 		NTES
NetEase.com Inc.
3.35% of portfolio
 		MON-OLD
Monsanto Co.
3.35% of portfolio
 		EQIX
Equinix Inc.
3.21% of portfolio
 		TDC
Teradata Corp.
3.18% of portfolio
 		LVS
Las Vegas Sands Corp.
3.00% of portfolio
 		CTSH
Cognizant Technology Solutions
2.88% of portfolio
 		CCI
Crown Castle International Corp.
2.83% of portfolio
 		ESRX
Express Scripts
2.65% of portfolio
 		OII
Oceaneering Int'l
2.60% of portfolio
 		AZO
AutoZone Inc.
2.55% of portfolio
 		TDG
TransDigm Group Inc.
2.49% of portfolio
 		WYN-OLD
Wyndham Worldwide
2.03% of portfolio
2011   Q4$13.1 B AAPL
Apple Inc.
6.67% of portfolio
 		GOOGL
Alphabet Inc.
6.66% of portfolio
 		BKNG
Booking Holdings Inc.
5.25% of portfolio
 		RL
Ralph Lauren Corp.
4.95% of portfolio
 		DG
Dollar General
4.83% of portfolio
 		ESRX
Express Scripts
4.71% of portfolio
 		V
Visa Inc.
3.73% of portfolio
 		CCI
Crown Castle International Corp.
3.63% of portfolio
 		CTSH
Cognizant Technology Solutions
3.26% of portfolio
 		MON-OLD
Monsanto Co.
3.18% of portfolio
 		LVS
Las Vegas Sands Corp.
3.17% of portfolio
 		NTAP
NetApp Inc.
2.78% of portfolio
 		OII
Oceaneering Int'l
2.77% of portfolio
 		QCOM
QUALCOMM Inc.
2.65% of portfolio
 		TDC
Teradata Corp.
2.57% of portfolio
 		NTES
NetEase.com Inc.
2.56% of portfolio
 		FTI
TechnipFMC plc
2.49% of portfolio
 		WYN-OLD
Wyndham Worldwide
2.39% of portfolio
 		TDG
TransDigm Group Inc.
2.28% of portfolio
 		EQIX
Equinix Inc.
2.16% of portfolio
2011   Q3$12 B AAPL
Apple Inc.
6.53% of portfolio
 		CTSH
Cognizant Technology Solutions
5.58% of portfolio
 		DG
Dollar General
4.97% of portfolio
 		RL
Ralph Lauren Corp.
4.55% of portfolio
 		ESRX
Express Scripts
4.15% of portfolio
 		CCI
Crown Castle International Corp.
4.11% of portfolio
 		GOOGL
Alphabet Inc.
4.02% of portfolio
 		NWSA
News Corp.
3.42% of portfolio
 		SLB
Schlumberger Ltd.
3.00% of portfolio
 		QCOM
QUALCOMM Inc.
2.92% of portfolio
 		GR
Goodrich Corp.
2.69% of portfolio
 		NTAP
NetApp Inc.
2.69% of portfolio
 		BBBYQ-OLD
Bed Bath & Beyond
2.61% of portfolio
 		MON-OLD
Monsanto Co.
2.61% of portfolio
 		BKNG
Booking Holdings Inc.
2.42% of portfolio
 		LVS
Las Vegas Sands Corp.
2.35% of portfolio
 		EQIX
Equinix Inc.
2.32% of portfolio
 		CTRP
Ctrip.com International Ltd.
2.30% of portfolio
 		DLTR
Dollar Tree Inc.
2.23% of portfolio
 		TDG
TransDigm Group Inc.
2.10% of portfolio
2011   Q2$12.9 B AAPL
Apple Inc.
5.15% of portfolio
 		CTSH
Cognizant Technology Solutions
4.89% of portfolio
 		DG
Dollar General
4.26% of portfolio
 		RL
Ralph Lauren Corp.
4.20% of portfolio
 		CCI
Crown Castle International Corp.
3.82% of portfolio
 		GR
Goodrich Corp.
3.67% of portfolio
 		ESRX
Express Scripts
3.37% of portfolio
 		GOOGL
Alphabet Inc.
3.26% of portfolio
 		YUM
Yum! Brands Inc.
3.12% of portfolio
 		NTAP
NetApp Inc.
3.10% of portfolio
 		MON-OLD
Monsanto Co.
2.86% of portfolio
 		ORLY
O'Reilly Automotive
2.83% of portfolio
 		SLB
Schlumberger Ltd.
2.74% of portfolio
 		QCOM
QUALCOMM Inc.
2.72% of portfolio
 		CTRP
Ctrip.com International Ltd.
2.70% of portfolio
 		EQIX
Equinix Inc.
2.37% of portfolio
 		EL
Estee Lauder Cos.
2.19% of portfolio
 		WBC
WABCO Holdings Inc.
2.17% of portfolio
 		TDG
TransDigm Group Inc.
2.14% of portfolio
 		C
Citigroup Inc.
2.12% of portfolio
2011   Q1$12.1 B ESRX
Express Scripts
4.48% of portfolio
 		AAPL
Apple Inc.
4.48% of portfolio
 		YUM
Yum! Brands Inc.
4.43% of portfolio
 		CTSH
Cognizant Technology Solutions
4.28% of portfolio
 		CCI
Crown Castle International Corp.
4.25% of portfolio
 		DG
Dollar General
4.09% of portfolio
 		RL
Ralph Lauren Corp.
3.66% of portfolio
 		NTAP
NetApp Inc.
3.50% of portfolio
 		C
Citigroup Inc.
3.42% of portfolio
 		GR
Goodrich Corp.
3.09% of portfolio
 		EQIX
Equinix Inc.
3.04% of portfolio
 		SLB
Schlumberger Ltd.
2.99% of portfolio
 		QCOM
QUALCOMM Inc.
2.86% of portfolio
 		JPM
JPMorgan Chase & Co.
2.82% of portfolio
 		CTRP
Ctrip.com International Ltd.
2.71% of portfolio
 		ORLY
O'Reilly Automotive
2.64% of portfolio
 		EL
Estee Lauder Cos.
2.42% of portfolio
 		FDO
Family Dollar Stores
2.39% of portfolio
 		TDG
TransDigm Group Inc.
2.00% of portfolio
 		WYN-OLD
Wyndham Worldwide
1.77% of portfolio
2010   Q4$11.3 B C
Citigroup Inc.
6.09% of portfolio
 		YUM
Yum! Brands Inc.
5.37% of portfolio
 		SLB
Schlumberger Ltd.
5.19% of portfolio
 		AAPL
Apple Inc.
4.90% of portfolio
 		CTSH
Cognizant Technology Solutions
4.23% of portfolio
 		TECK
Teck Resources
4.04% of portfolio
 		ESRX
Express Scripts
3.72% of portfolio
 		DG
Dollar General
3.70% of portfolio
 		GR
Goodrich Corp.
3.52% of portfolio
 		RL
Ralph Lauren Corp.
3.41% of portfolio
 		JPM
JPMorgan Chase & Co.
3.05% of portfolio
 		EQIX
Equinix Inc.
2.91% of portfolio
 		CCI
Crown Castle International Corp.
2.90% of portfolio
 		AMP
Ameriprise Financial Inc.
2.75% of portfolio
 		APH
Amphenol Corp.
2.37% of portfolio
 		MJN
Mead Johnson Nutrition Co.
2.31% of portfolio
 		EDU
New Oriental Education & Technology
2.28% of portfolio
 		NTAP
NetApp Inc.
2.25% of portfolio
 		EL
Estee Lauder Cos.
2.17% of portfolio
 		FDO
Family Dollar Stores
2.09% of portfolio
2010   Q3$10.7 B AAPL
Apple Inc.
7.16% of portfolio
 		YUM
Yum! Brands Inc.
6.46% of portfolio
 		CTSH
Cognizant Technology Solutions
5.54% of portfolio
 		CCI
Crown Castle International Corp.
5.04% of portfolio
 		JPM
JPMorgan Chase & Co.
4.15% of portfolio
 		ACN
Accenture
3.66% of portfolio
 		EQIX
Equinix Inc.
3.18% of portfolio
 		EL
Estee Lauder Cos.
3.16% of portfolio
 		GR
Goodrich Corp.
2.78% of portfolio
 		RL
Ralph Lauren Corp.
2.59% of portfolio
 		ADSK
Autodesk Inc.
2.58% of portfolio
 		EDU
New Oriental Education & Technology
2.56% of portfolio
 		DG
Dollar General
2.33% of portfolio
 		AMP
Ameriprise Financial Inc.
2.33% of portfolio
 		APH
Amphenol Corp.
2.31% of portfolio
 		ORLY
O'Reilly Automotive
2.31% of portfolio
 		MJN
Mead Johnson Nutrition Co.
2.22% of portfolio
 		STRA
Strategic Education Inc.
2.02% of portfolio
 		FDO
Family Dollar Stores
1.95% of portfolio
 		CL
Colgate-Palmolive
1.94% of portfolio
2010   Q2$9.33 B JPM
JPMorgan Chase & Co.
6.45% of portfolio
 		CTSH
Cognizant Technology Solutions
6.37% of portfolio
 		YUM
Yum! Brands Inc.
6.30% of portfolio
 		AAPL
Apple Inc.
6.07% of portfolio
 		CCI
Crown Castle International Corp.
4.38% of portfolio
 		ACN
Accenture
4.01% of portfolio
 		EL
Estee Lauder Cos.
3.65% of portfolio
 		QCOM
QUALCOMM Inc.
3.43% of portfolio
 		DVA
DaVita HealthCare Partners
2.95% of portfolio
 		HPQ
HP Inc.
2.84% of portfolio
 		GR
Goodrich Corp.
2.79% of portfolio
 		EDU
New Oriental Education & Technology
2.74% of portfolio
 		STRA
Strategic Education Inc.
2.68% of portfolio
 		AMZN
Amazon.com Inc.
2.64% of portfolio
 		MCD
McDonald's Corp.
2.58% of portfolio
 		MJN
Mead Johnson Nutrition Co.
2.34% of portfolio
 		ADSK
Autodesk Inc.
2.27% of portfolio
 		BKNG
Booking Holdings Inc.
2.25% of portfolio
 		GMCR
Keurig Green Mountain Inc.
2.10% of portfolio
 		ORLY
O'Reilly Automotive
2.04% of portfolio
2010   Q1$10.3 B JPM
JPMorgan Chase & Co.
7.73% of portfolio
 		QCOM
QUALCOMM Inc.
5.72% of portfolio
 		CTSH
Cognizant Technology Solutions
5.39% of portfolio
 		AAPL
Apple Inc.
5.36% of portfolio
 		ACN
Accenture
4.67% of portfolio
 		YUM
Yum! Brands Inc.
4.56% of portfolio
 		MCD
McDonald's Corp.
4.50% of portfolio
 		WFC
Wells Fargo
4.43% of portfolio
 		BAX
Baxter International Inc.
3.57% of portfolio
 		V
Visa Inc.
3.21% of portfolio
 		STRA
Strategic Education Inc.
3.04% of portfolio
 		DVA
DaVita HealthCare Partners
2.86% of portfolio
 		BAC
Bank of America Corp.
2.65% of portfolio
 		HPQ
HP Inc.
2.53% of portfolio
 		EDU
New Oriental Education & Technology
2.27% of portfolio
 		GR
Goodrich Corp.
2.21% of portfolio
 		UPS
United Parcel Service
2.20% of portfolio
 		EL
Estee Lauder Cos.
2.20% of portfolio
 		MON-OLD
Monsanto Co.
2.06% of portfolio
 		CVS
CVS Health Corp.
1.92% of portfolio
2009   Q4$9.81 B JPM
JPMorgan Chase & Co.
7.43% of portfolio
 		MON-OLD
Monsanto Co.
6.82% of portfolio
 		BAX
Baxter International Inc.
6.25% of portfolio
 		QCOM
QUALCOMM Inc.
5.78% of portfolio
 		AAPL
Apple Inc.
5.43% of portfolio
 		V
Visa Inc.
4.88% of portfolio
 		MCD
McDonald's Corp.
4.85% of portfolio
 		HPQ
HP Inc.
4.48% of portfolio
 		HSBC
HSBC Holdings plc
3.89% of portfolio
 		ACN
Accenture
3.69% of portfolio
 		GMCR
Keurig Green Mountain Inc.
3.16% of portfolio
 		WFC
Wells Fargo
3.02% of portfolio
 		STRA
Strategic Education Inc.
2.93% of portfolio
 		WBA
Walgreens Boots Alliance
2.88% of portfolio
 		GR
Goodrich Corp.
2.70% of portfolio
 		DIS
Walt Disney Co.
2.45% of portfolio
 		YUM
Yum! Brands Inc.
2.33% of portfolio
 		FLIR
FLIR Systems
2.29% of portfolio
 		BAC
Bank of America Corp.
2.23% of portfolio
 		EBAY
eBay Inc.
1.93% of portfolio
2009   Q3$7.73 B JPM
JPMorgan Chase & Co.
9.27% of portfolio
 		MON-OLD
Monsanto Co.
8.40% of portfolio
 		AAPL
Apple Inc.
7.41% of portfolio
 		QCOM
QUALCOMM Inc.
6.82% of portfolio
 		HPQ
HP Inc.
6.01% of portfolio
 		MCD
McDonald's Corp.
4.69% of portfolio
 		BKNG
Booking Holdings Inc.
3.97% of portfolio
 		V
Visa Inc.
3.94% of portfolio
 		GMCR
Keurig Green Mountain Inc.
3.63% of portfolio
 		STRA
Strategic Education Inc.
3.61% of portfolio
 		MA
Mastercard Inc.
3.13% of portfolio
 		AMX
America Movil SAB de CV
2.84% of portfolio
 		SWN-OLD
Southwestern Energy
2.79% of portfolio
 		CX
Cemex
2.41% of portfolio
 		KO
Coca Cola Co.
2.41% of portfolio
 		DISCA-OLD
Discovery Inc. OLD
2.04% of portfolio
 		WBA
Walgreens Boots Alliance
1.97% of portfolio
 		PCP
Precision Castparts
1.92% of portfolio
 		FLIR
FLIR Systems
1.87% of portfolio
 		LMDIA
Liberty Media Ent. OLD
1.86% of portfolio
2009   Q2$7.02 B QCOM
QUALCOMM Inc.
10.23% of portfolio
 		MON-OLD
Monsanto Co.
8.28% of portfolio
 		MCD
McDonald's Corp.
6.92% of portfolio
 		AMX
America Movil SAB de CV
6.50% of portfolio
 		JPM
JPMorgan Chase & Co.
6.09% of portfolio
 		V
Visa Inc.
6.01% of portfolio
 		PM
Philip Morris Intl.
5.09% of portfolio
 		HPQ
HP Inc.
4.66% of portfolio
 		STRA
Strategic Education Inc.
3.98% of portfolio
 		KO
Coca Cola Co.
3.85% of portfolio
 		BKNG
Booking Holdings Inc.
3.72% of portfolio
 		FMX
Fomento Economico Mexicano
3.31% of portfolio
 		NKE
NIKE Inc.
3.31% of portfolio
 		TPR
Tapestry Inc.
3.29% of portfolio
 		GOOGL
Alphabet Inc.
2.86% of portfolio
 		MA
Mastercard Inc.
2.86% of portfolio
 		SFD
Smithfield Foods
2.21% of portfolio
 		ECL
Ecolab Inc.
1.93% of portfolio
 		PCP
Precision Castparts
1.65% of portfolio
 		URBN
Urban Outfitters Inc.
1.62% of portfolio
2009   Q1$6.32 B QCOM
QUALCOMM Inc.
11.53% of portfolio
 		V
Visa Inc.
8.02% of portfolio
 		AMX
America Movil SAB de CV
7.99% of portfolio
 		JPM
JPMorgan Chase & Co.
6.57% of portfolio
 		MON-OLD
Monsanto Co.
5.73% of portfolio
 		PM
Philip Morris Intl.
5.68% of portfolio
 		MA
Mastercard Inc.
5.58% of portfolio
 		UNP
Union Pacific
4.69% of portfolio
 		MHS
Medco Health Solutions Inc.
3.89% of portfolio
 		GOOGL
Alphabet Inc.
3.26% of portfolio
 		BKNG
Booking Holdings Inc.
3.24% of portfolio
 		FMX
Fomento Economico Mexicano
3.13% of portfolio
 		PEP
PepsiCo Inc.
2.92% of portfolio
 		CCL
Carnival Corp.
2.91% of portfolio
 		PCP
Precision Castparts
2.49% of portfolio
 		APOL
Apollo Education Group Inc.
2.34% of portfolio
 		TPR
Tapestry Inc.
2.32% of portfolio
 		STRA
Strategic Education Inc.
2.24% of portfolio
 		URBN
Urban Outfitters Inc.
1.97% of portfolio
 		KO
Coca Cola Co.
1.96% of portfolio
2008   Q4$5.83 B AMX
America Movil SAB de CV
12.76% of portfolio
 		QCOM
QUALCOMM Inc.
12.46% of portfolio
 		V
Visa Inc.
7.59% of portfolio
 		MA
Mastercard Inc.
7.16% of portfolio
 		JPM
JPMorgan Chase & Co.
6.68% of portfolio
 		UNP
Union Pacific
5.65% of portfolio
 		MON-OLD
Monsanto Co.
5.11% of portfolio
 		BKNG
Booking Holdings Inc.
4.55% of portfolio
 		GOOGL
Alphabet Inc.
4.46% of portfolio
 		PCP
Precision Castparts
3.71% of portfolio
 		LO
Lorillard Inc.
3.52% of portfolio
 		CCL
Carnival Corp.
3.31% of portfolio
 		MSM
MSC Industrial Direct
3.11% of portfolio
 		ATVI
Activision Blizzard Inc.
3.00% of portfolio
 		DLB
Dolby Laboratories Inc.
2.73% of portfolio
 		TDC
Teradata Corp.
2.55% of portfolio
 		XTO
XTO Energy Inc.
2.40% of portfolio
 		TPR
Tapestry Inc.
2.20% of portfolio
 		SCHW
Charles Schwab Corp.
2.10% of portfolio
 		LVS
Las Vegas Sands Corp.
1.90% of portfolio
2008   Q3$5.18 B AMX
America Movil SAB de CV
16.13% of portfolio
 		QCOM
QUALCOMM Inc.
14.95% of portfolio
 		XTO
XTO Energy Inc.
10.73% of portfolio
 		V
Visa Inc.
5.52% of portfolio
 		SD
SandRidge Energy Inc.
5.22% of portfolio
 		BKNG
Booking Holdings Inc.
4.76% of portfolio
 		LO
Lorillard Inc.
4.71% of portfolio
 		FAST
Fastenal
4.38% of portfolio
 		MSM
MSC Industrial Direct
4.38% of portfolio
 		CCI
Crown Castle International Corp.
4.14% of portfolio
 		PCP
Precision Castparts
3.82% of portfolio
 		WFRD
Weatherford International plc
3.77% of portfolio
 		MA
Mastercard Inc.
3.37% of portfolio
 		TDC
Teradata Corp.
3.25% of portfolio
 		DLB
Dolby Laboratories Inc.
3.01% of portfolio
 		HANS
Hansen Natural
2.52% of portfolio
 		SAI-OLD
SAIC Inc.
2.39% of portfolio
 		EXP
Eagle Materials Inc.
1.22% of portfolio
 		DKS
Dick's Sporting Goods Inc.
1.11% of portfolio
 		NCC
National City Corp.
0.32% of portfolio
2008   Q2$6.82 B SD
SandRidge Energy Inc.
11.64% of portfolio
 		AMX
America Movil SAB de CV
11.02% of portfolio
 		XTO
XTO Energy Inc.
8.54% of portfolio
 		GOOGL
Alphabet Inc.
7.58% of portfolio
 		QCOM
QUALCOMM Inc.
7.45% of portfolio
 		ETR
Entergy Corp.
6.21% of portfolio
 		FAST
Fastenal
3.87% of portfolio
 		WFRD
Weatherford International plc
3.50% of portfolio
 		LO
Lorillard Inc.
3.37% of portfolio
 		MON-OLD
Monsanto Co.
3.36% of portfolio
 		MSM
MSC Industrial Direct
3.34% of portfolio
 		BN
Brookfield Corp.
3.34% of portfolio
 		TDC
Teradata Corp.
3.14% of portfolio
 		CBRE
CBRE Group
3.01% of portfolio
 		ILMN
Illumina Inc.
2.76% of portfolio
 		AMZN
Amazon.com Inc.
2.72% of portfolio
 		MA
Mastercard Inc.
2.54% of portfolio
 		SAI-OLD
SAIC Inc.
2.51% of portfolio
 		BKNG
Booking Holdings Inc.
2.40% of portfolio
 		INFY
Infosys Ltd.
2.25% of portfolio
2008   Q1$7.01 B GOOGL
Alphabet Inc.
10.17% of portfolio
 		AMX
America Movil SAB de CV
9.28% of portfolio
 		QCOM
QUALCOMM Inc.
7.77% of portfolio
 		XTO
XTO Energy Inc.
7.12% of portfolio
 		AAPL
Apple Inc.
5.98% of portfolio
 		SD
SandRidge Energy Inc.
5.62% of portfolio
 		FAST
Fastenal
4.58% of portfolio
 		CME
CME Group
3.98% of portfolio
 		MON-OLD
Monsanto Co.
3.88% of portfolio
 		CBRE
CBRE Group
3.65% of portfolio
 		SWN-OLD
Southwestern Energy
3.54% of portfolio
 		INFY
Infosys Ltd.
3.54% of portfolio
 		BKNG
Booking Holdings Inc.
3.53% of portfolio
 		V
Visa Inc.
3.47% of portfolio
 		BN
Brookfield Corp.
3.27% of portfolio
 		MSM
MSC Industrial Direct
3.12% of portfolio
 		MA
Mastercard Inc.
2.93% of portfolio
 		TDC
Teradata Corp.
2.91% of portfolio
 		ILMN
Illumina Inc.
2.60% of portfolio
 		EXP
Eagle Materials Inc.
2.33% of portfolio