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PineStone Asset Management Inc.

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13F filer, CIK 1904893, Montreal, Quebec, Canada

PineStone Asset Management Inc. reported $16,073,157,786 across 43 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-10-17. Its ten largest share positions make up 67.6% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-004313

Period
2025-09-30
Reported value
$16.1B
Holdings
43
Top 10 weight
67.6%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
HDBadded+4,089,267$140M
CPRTadded+1,315,181$59.1M
MSCIadded+71,720$40.7M
CLadded+344,700$27.6M
FDSadded+39,025$11.2M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
TSMreduced-479,952-$134M
MSFTreduced-203,922-$106M
GOOGLreduced-408,183-$99.2M
AZOreduced-16,388-$70.3M
TJXreduced-351,826-$50.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001172661-25-004313, largest first. % of portfolio is the value over $16,073,157,786, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,943,236 shares; 2024Q4: 4,641,798 shares; 2025Q1: 6,785,321 shares; 2025Q2: 7,025,731 shares; 2025Q3: 6,545,779 shares 6,545,779$1.83B11.38%-479,952Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,653,283 shares; 2024Q4: 4,926,734 shares; 2025Q1: 6,533,632 shares; 2025Q2: 6,807,110 shares; 2025Q3: 6,398,927 shares 6,398,927$1.56B9.68%-408,183Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,049,268 shares; 2024Q4: 2,242,074 shares; 2025Q1: 2,929,471 shares; 2025Q2: 3,111,958 shares; 2025Q3: 2,908,036 shares 2,908,036$1.51B9.37%-203,922Timeline
AZOAUTOZONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 199,804 shares; 2024Q4: 213,575 shares; 2025Q1: 271,237 shares; 2025Q2: 281,693 shares; 2025Q3: 265,305 shares 265,305$1.14B7.08%-16,388Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,483,827 shares; 2024Q4: 1,537,331 shares; 2025Q1: 2,095,469 shares; 2025Q2: 2,311,020 shares; 2025Q3: 2,264,043 shares 2,264,043$1.08B6.71%-46,977Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,596,366 shares; 2024Q4: 2,589,233 shares; 2025Q1: 2,820,855 shares; 2025Q2: 3,590,801 shares; 2025Q3: 3,429,371 shares 3,429,371$964M6%-161,430Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,150,450 shares; 2024Q4: 1,187,820 shares; 2025Q1: 1,486,860 shares; 2025Q2: 1,607,207 shares; 2025Q3: 1,585,690 shares 1,585,690$902M5.61%-21,517Timeline
CMECME GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,505,982 shares; 2024Q4: 1,665,700 shares; 2025Q1: 2,365,185 shares; 2025Q2: 2,540,578 shares; 2025Q3: 2,570,087 shares 2,570,087$694M4.32%+29,509Timeline
TJXTJX COS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,378,643 shares; 2024Q4: 3,382,504 shares; 2025Q1: 4,523,338 shares; 2025Q2: 4,690,373 shares; 2025Q3: 4,338,547 shares 4,338,547$627M3.9%-351,826Timeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,084,174 shares; 2024Q4: 1,124,999 shares; 2025Q1: 1,500,484 shares; 2025Q2: 1,681,100 shares; 2025Q3: 1,645,885 shares 1,645,885$570M3.55%-35,215Timeline
MSCIMSCI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 485,020 shares; 2024Q4: 569,374 shares; 2025Q1: 795,657 shares; 2025Q2: 890,123 shares; 2025Q3: 961,843 shares 961,843$546M3.4%+71,720Timeline
OTISOTIS WORLDWIDE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,881,097 shares; 2024Q4: 3,002,419 shares; 2025Q1: 4,095,132 shares; 2025Q2: 4,639,065 shares; 2025Q3: 4,516,521 shares 4,516,521$413M2.57%-122,544Timeline
MTDMETTLER TOLEDO INTERNATIONALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 165,506 shares; 2024Q4: 169,420 shares; 2025Q1: 235,612 shares; 2025Q2: 334,349 shares; 2025Q3: 323,570 shares 323,570$397M2.47%-10,779Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,734,383 shares; 2024Q4: 1,959,872 shares; 2025Q1: 2,064,633 shares; 2025Q2: 2,178,970 shares; 2025Q3: 2,090,409 shares 2,090,409$388M2.41%-88,561Timeline
CPRTCOPART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 542,200 shares; 2024Q4: 1,585,400 shares; 2025Q1: 4,097,404 shares; 2025Q2: 6,407,471 shares; 2025Q3: 7,722,652 shares 7,722,652$347M2.16%+1,315,181Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,826,896 shares; 2024Q4: 2,221,971 shares; 2025Q1: 2,426,833 shares; 2025Q2: 2,523,928 shares; 2025Q3: 2,426,874 shares 2,426,874$341M2.12%-97,054Timeline
GGGGRACO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,828,497 shares; 2024Q4: 2,904,681 shares; 2025Q1: 3,584,495 shares; 2025Q2: 3,911,372 shares; 2025Q3: 3,802,310 shares 3,802,310$323M2.01%-109,062Timeline
CARRCARRIER GLOBAL CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,107,096 shares; 2024Q4: 4,205,847 shares; 2025Q1: 4,698,516 shares; 2025Q2: 5,300,483 shares; 2025Q3: 5,315,444 shares 5,315,444$317M1.97%+14,961Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 414,719 shares; 2024Q4: 418,519 shares; 2025Q1: 623,103 shares; 2025Q2: 618,443 shares; 2025Q3: 602,868 shares 602,868$293M1.83%-15,575Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,954,649 shares; 2024Q4: 3,243,349 shares; 2025Q1: 3,969,039 shares; 2025Q2: 4,074,467 shares; 2025Q3: 8,163,734 shares 8,163,734$279M1.74%+4,089,267Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 879,162 shares; 2024Q4: 865,875 shares; 2025Q1: 1,123,029 shares; 2025Q2: 829,356 shares; 2025Q3: 774,624 shares 774,624$267M1.66%-54,732Timeline
LOWLOWES COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 817,567 shares; 2024Q4: 821,842 shares; 2025Q1: 921,059 shares; 2025Q2: 989,700 shares; 2025Q3: 972,650 shares 972,650$244M1.52%-17,050Timeline
ADIANALOG DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 697,806 shares; 2024Q4: 691,238 shares; 2025Q1: 760,999 shares; 2025Q2: 944,376 shares; 2025Q3: 924,976 shares 924,976$227M1.41%-19,400Timeline
HLTHILTON WORLDWIDE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 523,510 shares; 2024Q4: 528,010 shares; 2025Q1: 606,042 shares; 2025Q2: 844,534 shares; 2025Q3: 833,724 shares 833,724$216M1.35%-10,810Timeline
CLCOLGATE PALMOLIVE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 998,704 shares; 2024Q4: 1,078,521 shares; 2025Q1: 1,165,077 shares; 2025Q2: 1,259,389 shares; 2025Q3: 1,604,089 shares 1,604,089$128M0.8%+344,700Timeline
FDSFACTSET RESH SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 274,003 shares; 2024Q4: 293,088 shares; 2025Q1: 349,578 shares; 2025Q2: 380,459 shares; 2025Q3: 419,484 shares 419,484$120M0.75%+39,025Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,295,652 shares; 2024Q4: 1,303,836 shares; 2025Q1: 1,438,345 shares; 2025Q2: 1,684,895 shares; 2025Q3: 1,645,335 shares 1,645,335$115M0.71%-39,560Timeline
ADBEADOBE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 278,363 shares; 2024Q4: 279,450 shares; 2025Q1: 288,938 shares; 2025Q2: 327,214 shares; 2025Q3: 200,464 shares 200,464$70.7M0.44%-126,750Timeline
FSSFEDERAL SIGNAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 154,084 shares; 2024Q4: 174,884 shares; 2025Q1: 174,884 shares; 2025Q2: 198,184 shares; 2025Q3: 185,484 shares 185,484$22.1M0.14%-12,700Timeline
WHWYNDHAM HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 248,100 shares; 2024Q4: 238,525 shares; 2025Q1: 202,750 shares; 2025Q2: 411,500 shares; 2025Q3: 208,750 shares 208,750$16.7M0.1%-202,750Timeline
HLIHOULIHAN LOKEY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,195 shares; 2024Q4: 60,995 shares; 2025Q1: 69,395 shares; 2025Q2: 74,495 shares; 2025Q3: 74,495 shares 74,495$15.3M0.1%0Timeline
MEDPMEDPACE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,300 shares; 2024Q4: 36,300 shares; 2025Q1: 36,300 shares; 2025Q2: 36,300 shares; 2025Q3: 29,200 shares 29,200$15M0.09%-7,100Timeline
TREXTREX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 139,369 shares; 2024Q4: 162,569 shares; 2025Q1: 199,769 shares; 2025Q2: 239,769 shares; 2025Q3: 239,769 shares 239,769$12.4M0.08%0Timeline
DCIDONALDSON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 197,061 shares; 2024Q4: 197,061 shares; 2025Q1: 175,461 shares; 2025Q2: 150,861 shares; 2025Q3: 150,861 shares 150,861$12.3M0.08%0Timeline
JBTMJBT MAREL CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 129,696 shares; 2024Q4: 91,629 shares; 2025Q1: 91,629 shares; 2025Q2: 87,229 shares; 2025Q3: 87,229 shares 87,229$12.3M0.08%0Timeline
IPARINTERPARFUMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 109,384 shares; 2024Q4: 110,084 shares; 2025Q1: 110,084 shares; 2025Q2: 108,517 shares; 2025Q3: 119,352 shares 119,352$11.7M0.07%+10,835Timeline
SSDSIMPSON MFG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 70,100 shares; 2024Q4: 70,100 shares; 2025Q1: 60,300 shares; 2025Q2: 58,000 shares; 2025Q3: 56,810 shares 56,810$9.51M0.06%-1,190Timeline
EXPOEXPONENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 87,500 shares; 2024Q4: 98,311 shares; 2025Q1: 115,094 shares; 2025Q2: 122,694 shares; 2025Q3: 131,294 shares 131,294$9.12M0.06%+8,600Timeline
HAYWHAYWARD HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 521,300 shares; 2025Q3: 595,200 shares 595,200$9M0.06%+73,900Timeline
JKHYHENRY JACK & ASSOC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 43,800 shares; 2025Q2: 60,200 shares; 2025Q3: 60,200 shares 60,200$8.97M0.06%0Timeline
WDFCWD 40 COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 40,700 shares; 2024Q4: 40,700 shares; 2025Q1: 40,700 shares; 2025Q2: 43,610 shares; 2025Q3: 43,610 shares 43,610$8.62M0.05%0Timeline
FNDFLOOR & DECOR HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 97,000 shares; 2024Q4: 104,500 shares; 2025Q1: 112,300 shares; 2025Q2: 112,300 shares; 2025Q3: 112,300 shares 112,300$8.28M0.05%0Timeline
POWIPOWER INTEGRATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 79,100 shares; 2024Q4: 79,100 shares; 2025Q1: 79,100 shares; 2025Q2: 79,100 shares; 2025Q3: 79,100 shares 79,100$3.18M0.02%0Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BRKRBRUKER CORP237,576$9.79Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-004313 base2025-10-17acceptance time not in the bulk data set