111 Capital's Q1 2025 13F: 265 new positions, 204 exits
Form 13F-HR for the quarter ended Mar 31, 2025 · filed May 15, 2025 · 445 reported positions · accession 0002060412-25-000002
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | CONSUMER STAPLES SPDR (XLP) | 0.1% | 2.3% | +2.2 pts | +141K sh | +2277% |
| Exited | FINANCIAL SELECT SECTOR SPDR (XLF) | 1.7% | — | −1.7 pts | −167K sh | −100% |
| New | FERRARI NV (RACE) | — | 1.6% | +1.6 pts | +19,130 sh | new |
| Exited | BROADCOM INC (AVGO) | 1.4% | — | −1.4 pts | −29,449 sh | −100% |
| Increased | MATERIALS SELECT SECTOR SPDR (XLB) | 0.2% | 1.3% | +1.1 pts | +64,990 sh | +476% |
| Increased | CONSUMER DISCRETIONARY SELT (XLY) | 0.0% | 1.0% | +0.9 pts | +24,519 sh | +2683% |
| Exited | PROGRESSIVE CORP (PGR) | 0.9% | — | −0.9 pts | −17,254 sh | −100% |
| Increased | NETFLIX INC (NFLX) | 0.3% | 1.1% | +0.8 pts | +4,447 sh | +250% |
| New | SPDR DJIA TRUST (DIA) | — | 0.8% | +0.8 pts | +9,816 sh | new |
| Increased | ALPHABET INC-CL C (GOOG) | 0.7% | 1.2% | +0.6 pts | +24,585 sh | +149% |
| Increased | ALPHABET INC-CL A (GOOGL) | 0.8% | 1.3% | +0.5 pts | +23,998 sh | +126% |
| Exited | LULULEMON ATHLETICA INC (LULU) | 0.7% | — | −0.7 pts | −8,791 sh | −100% |
| Reduced | EXXON MOBIL CORP (XOM) | 0.8% | 0.1% | −0.7 pts | −30,383 sh | −84% |
| Reduced | CINTAS CORP (CTAS) | 1.0% | 0.3% | −0.7 pts | −17,295 sh | −68% |
| Exited | UNITEDHEALTH GROUP INC (UNH) | 0.7% | — | −0.7 pts | −6,195 sh | −100% |
| Increased | INVESCO QQQ TRUST SERIES 1 (QQQ) | 4.6% | 4.5% | −0.1 pts | +6,997 sh | +16% |
| Reduced | PEPSICO INC (PEP) | 0.8% | 0.1% | −0.7 pts | −21,477 sh | −91% |
| New | GOLDMAN SACHS GROUP INC (GS) | — | 0.6% | +0.6 pts | +5,767 sh | new |
| Exited | TECHNOLOGY SELECT SECT SPDR (XLK) | 0.6% | — | −0.6 pts | −12,096 sh | −100% |
| New | MCDONALD'S CORP (MCD) | — | 0.6% | +0.6 pts | +9,734 sh | new |
| Exited | ZOETIS INC (ZTS) | 0.6% | — | −0.6 pts | −17,101 sh | −100% |
| New | UTILITIES SELECT SECTOR SPDR (XLU) | — | 0.6% | +0.6 pts | +37,287 sh | new |
| Reduced | ENERGY SELECT SECTOR SPDR (XLE) | 1.7% | 1.1% | −0.6 pts | −31,114 sh | −33% |
| Increased | PROCTER & GAMBLE CO/THE (PG) | 0.2% | 0.7% | +0.5 pts | +16,659 sh | +390% |
| Exited | CONOCOPHILLIPS (COP) | 0.5% | — | −0.5 pts | −26,038 sh | −100% |
| Exited | WASTE MANAGEMENT INC (WM) | 0.5% | — | −0.5 pts | −12,230 sh | −100% |
| Exited | SCHWAB (CHARLES) CORP (SCHW) | 0.5% | — | −0.5 pts | −32,940 sh | −100% |
| Reduced | QUALCOMM INC (QCOM) | 1.0% | 0.4% | −0.6 pts | −17,149 sh | −56% |
| Exited | EATON CORP PLC (ETN) | 0.5% | — | −0.5 pts | −7,083 sh | −100% |
| Increased | SALESFORCE INC (CRM) | 0.4% | 0.8% | +0.4 pts | +9,365 sh | +173% |
| Exited | ROPER TECHNOLOGIES INC (ROP) | 0.5% | — | −0.5 pts | −4,409 sh | −100% |
| Increased | ANALOG DEVICES INC (ADI) | 0.1% | 0.6% | +0.5 pts | +12,204 sh | +471% |
| New | FORTIS INC (FTS) | — | 0.5% | +0.5 pts | +53,997 sh | new |
| Increased | GILEAD SCIENCES INC (GILD) | 0.2% | 0.7% | +0.5 pts | +21,811 sh | +202% |
| New | ELI LILLY & CO (LLY) | — | 0.5% | +0.5 pts | +2,921 sh | new |
| New | GE HEALTHCARE TECHNOLOGY (GEHC) | — | 0.4% | +0.4 pts | +28,752 sh | new |
| New | MANULIFE FINANCIAL CORP (MFC) | — | 0.4% | +0.4 pts | +74,234 sh | new |
| New | BANK OF MONTREAL (BMO) | — | 0.4% | +0.4 pts | +24,141 sh | new |
| Exited | AMPHENOL CORP-CL A (APH) | 0.4% | — | −0.4 pts | −30,273 sh | −100% |
| New | PEMBINA PIPELINE CORP (PBA) | — | 0.4% | +0.4 pts | +56,540 sh | new |
| Exited | INDUSTRIAL SELECT SECT SPDR (XLI) | 0.4% | — | −0.4 pts | −15,315 sh | −100% |
| Increased | PROLOGIS INC (PLD) | 0.1% | 0.5% | +0.4 pts | +19,324 sh | +450% |
| Reduced | LINDE PLC (LIN) | 0.6% | 0.2% | −0.4 pts | −4,606 sh | −71% |
| New | CHEVRON CORP (CVX) | — | 0.4% | +0.4 pts | +12,786 sh | new |
| New | ROSS STORES INC (ROST) | — | 0.4% | +0.4 pts | +16,599 sh | new |
| New | ABBVIE INC (ABBV) | — | 0.4% | +0.4 pts | +10,070 sh | new |
| Exited | LOWE'S COS INC (LOW) | 0.4% | — | −0.4 pts | −7,746 sh | −100% |
| New | CANADIAN PACIFIC KANSAS CITY (CP) | — | 0.4% | +0.4 pts | +29,247 sh | new |
| New | PALO ALTO NETWORKS INC (PANW) | — | 0.4% | +0.4 pts | +11,894 sh | new |
| Exited | EDISON INTERNATIONAL (EIX) | 0.4% | — | −0.4 pts | −23,290 sh | −100% |
The 50 largest of 648 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 28.8% of the equity book
Changes in the top 10 this quarter: XLP entered · RACE entered · GRAB entered · TSLA left · XLF left · XLE left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | SEA LTD-ADR (SE) | 5.9% | 6.4% | |
| 2 | INVESCO QQQ TRUST SERIES 1 (QQQ) | 4.6% | 4.5% | |
| 3 | APPLE INC (AAPL) | 4.4% | 3.5% | |
| 4 | MICROSOFT CORP (MSFT) | 3.6% | 2.8% | |
| 5 | NVIDIA CORP (NVDA) | 3.7% | 2.5% | |
| 6 | CONSUMER STAPLES SPDR (XLP) | 0.1% | 2.3% | Entered the top 10 |
| 7 | AMAZON.COM INC (AMZN) | 2.7% | 2.0% | |
| 8 | META PLATFORMS INC-CLASS A (META) | 1.7% | 1.8% | |
| 9 | FERRARI NV (RACE) | 0.0% | 1.6% | Entered the top 10 |
| 10 | GRAB HOLDINGS LTD - CL A (GRAB) | 1.5% | 1.4% | Entered the top 10 |
| — | TESLA INC (TSLA) | 1.9% | 1.2% | Left the top 10 |
| — | FINANCIAL SELECT SECTOR SPDR (XLF) | 1.7% | 0.0% | Left the top 10 |
| — | ENERGY SELECT SECTOR SPDR (XLE) | 1.7% | 1.1% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).