StonePine Asset Management Inc.

Long Only Manager

StonePine Asset Management Inc. is a Long Only Manager led by Nadim Victor Rizk, reporting $50.8B in AUM as of Q3 2025 with 68% concentrated in top 10 holdings.

CEONadim Victor Rizk

Portfolio Value: $16.1B
Positions: 43
Top Holding: TSM at 11.38%
Last Reported: Q3 2025

Address1981 Mcgill College, Suite 1600, Montreal, Quebec, H3A 2Y1, Canada

Top Holdings

Largest long holdings in StonePine Asset Management Inc.'s portfolio (67.6% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Taiwan Semiconductor Manufacturing Company TSM	Semiconductors Technology	$1.8B	11.38%	-$134.1M Sold	— 6.5M shares	Q4 2022 Held for 2y 11m
2 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$1.6B	9.68%	-$99.2M Sold	0.05% 6.4M shares	Q4 2022 Held for 2y 11m
3 Microsoft MSFT	Software - Infrastructure Technology	$1.5B	9.37%	-$105.6M Sold	0.04% 2.9M shares	Q4 2022 Held for 2y 11m
4 AutoZone AZO	Specialty Retail Consumer Cyclical	$1.1B	7.08%	-$70.3M Sold	1.59% 265.3K shares	Q4 2022 Held for 2y 11m
5 Moody's MCO	Financial - Data & Stock Exchanges Financial Services	$1.1B	6.71%	-$22.4M Sold	1.26% 2.3M shares	Q4 2022 Held for 2y 11m
6 Oracle ORCL	Software - Infrastructure Technology	$964.5M	6.00%	-$45.4M Sold	0.12% 3.4M shares	Q4 2022 Held for 2y 11m
7 Mastercard MA	Financial - Credit Services Financial Services	$902.0M	5.61%	-$12.2M Sold	0.18% 1.6M shares	Q4 2022 Held for 2y 11m
8 CME Group CME	Financial - Data & Stock Exchanges Financial Services	$694.4M	4.32%	+$8.0M Bought	0.71% 2.6M shares	Q4 2022 Held for 2y 11m
9 TJX Companies TJX	Apparel - Retail Consumer Cyclical	$627.1M	3.90%	-$50.9M Sold	0.39% 4.3M shares	Q4 2022 Held for 2y 11m
10 Sherwin-Williams SHW	Chemicals - Specialty Basic Materials	$569.9M	3.55%	-$12.2M Sold	0.66% 1.6M shares	Q4 2022 Held for 2y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in StonePine Asset Management Inc.'s latest filing

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Market Value

$16.1B

Prior: $15.5B

Q/Q Change

+4.0%

+$618.6M

Net Flows % of MV

-2.76%

Turnover Ratio

3.18%

New Purchases

0 stocks

Added To

10 stocks

+$289.9M

Sold Out Of

1 stocks

$9.8M

Reduced Holdings

25 stocks

-$723.4M

Increased Positions

Position	Shares Δ	Change
1 HDB HDFC Bank HDB	+100.36%	4.1M → 8.2M +$139.7M
2 Colgate-Palmolive CL	+27.37%	1.3M → 1.6M +$27.6M
3 Copart CPRT	+20.53%	6.4M → 7.7M +$59.1M
4 Hayward Holdings HAYW	+14.18%	521.3K → 595.2K +$1.1M
5 FactSet Research Systems FDS	+10.26%	380.5K → 419.5K +$11.2M

Decreased Positions

Position	Shares Δ	Change
1 Bruker BRKR	Sold	237.6K → 0 −$9.8M
2 Wyndham Hotels & Resorts, Inc. WH	-49.27%	411.5K → 208.8K −$16.2M
3 Adobe ADBE	-38.74%	327.2K → 200.5K −$44.7M
4 Medpace Holdings, Inc. MEDP	-19.56%	36.3K → 29.2K −$3.7M
5 TJX Companies TJX	-7.5%	4.7M → 4.3M −$50.9M