Winslow Capital Management, LLC

Long Only Manager • Growth

Winslow Capital Management, LLC is a Long Only Manager specializing in Growth based in Minneapolis, MN led by Justin Holly Kelly, managing $30.3B across 60 long positions as of Q3 2025 with 55% Technology concentration, 59% concentrated in top 10 holdings, and 55% technology allocation.

CEOJustin Holly Kelly

Portfolio Value: $30.3B
Positions: 60
Top Holding: NVDA at 11.5%
Last Reported: Q3 2025

Address4400 Ids Center, 80 South Eighth Street, Minneapolis, MN, 55402, United States

Top Holdings

Largest long holdings in Winslow Capital Management, LLC's portfolio (59.5% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Nvidia NVDA	Semiconductors Technology	$3.5B	11.50%	+$289.5M Bought	0.08% 18.7M shares	Q3 2019 Held for 6y 2m
2 Microsoft MSFT	Software - Infrastructure Technology	$3.4B	11.34%	-$51.5M Sold	0.09% 6.6M shares	Q4 2015 Held for 9y 11m
3 Apple AAPL	Consumer Electronics Technology	$2.2B	7.19%	+$342.4M Bought	0.06% 8.5M shares	Q3 2019 Held for 6y 2m
4 Amazon AMZN	Specialty Retail Consumer Cyclical	$1.8B	5.86%	-$165.0M Sold	0.08% 8.1M shares	≤ Q2 2013 Held for 12y 5m+
5 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.5B	5.05%	-$167.2M Sold	0.08% 2.1M shares	Q1 2023 Held for 2y 8m
6 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$1.5B	4.97%	+$1.5B Bought	0.05% 6.2M shares	Q2 2014 Held for 11y 5m
7 Broadcom Inc. AVGO	Semiconductors Technology	$1.4B	4.79%	-$169.2M Sold	0.09% 4.4M shares	Q2 2023 Held for 2y 5m
8 Oracle ORCL	Software - Infrastructure Technology	$916.5M	3.03%	+$352.0M Bought	0.11% 3.3M shares	Q3 2024 Held for 1y 2m
9 Snowflake SNOW	Software - Application Technology	$908.7M	3.00%	+$177.3M Bought	1.19% 4.0M shares	Q4 2024 Held for 11 months
10 Tesla, Inc. TSLA	Auto - Manufacturers Consumer Cyclical	$835.8M	2.76%	+$213.6M Bought	0.06% 1.9M shares	Q3 2021 Held for 4y 2m

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Winslow Capital Management, LLC's latest filing

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GthenC

Market Value

$30.3B

Prior: $29.9B

Q/Q Change

+1.11%

+$331.1M

Net Flows % of MV

-9.18%

Turnover Ratio

17.15%

New Purchases

2 stocks

$377.8M

Added To

18 stocks

+$4.2B

Sold Out Of

10 stocks

$2.0B

Reduced Holdings

31 stocks

-$5.3B

Increased Positions

Position	Shares Δ	Change
1 Cadence Design Systems CDNS	New	0 → 1.1M +$374.5M
2 Quanta Services PWR	New	0 → 8.0K +$3.3M
3 Amphenol APH	+136,124.23%	3.3K → 4.4M +$548.5M
4 Alphabet Inc. GOOG	+49,931.68%	12.3K → 6.2M +$1.5B
5 Analog Devices ADI	+32,564.43%	1.8K → 580.4K +$142.2M

Decreased Positions

Position	Shares Δ	Change
1 LPL Financial Holdings LPLA	Sold	1.2M → 0 −$443.6M
2 Fair Isaac FICO	Sold	229.2K → 0 −$418.9M
3 Cintas CTAS	Sold	1.4M → 0 −$312.8M
4 Danaher DHR	Sold	1.5M → 0 −$288.8M
5 Arthur J. Gallagher AJG	Sold	828.5K → 0 −$265.2M