Latest Spence Asset Management Stock Portfolio

Spence Asset Management Performance:

2025 Q2: 10.55%YTD: 1.88%2024: 15.8%

Performance for 2025 Q2 is 10.55%, and YTD is 1.88%, and 2024 is 15.8%.

About Spence Asset Management and 13F Hedge Fund Stock Holdings

Westwind Capital is a hedge fund based in LAS CRUCES, NM. On 01-Jun-2023, the fund reported that it had an AUM (Regulated Assets under Management) of $482.9 Millions. In it's latest 13F Holdings report, Westwind Capital reported an equity portfolio of $489.2 Millions as of 30 Jun, 2025.

The top stock holdings of Westwind Capital are V, MA, AMZN. The fund has invested 8.4% of it's portfolio in VISA INC COM CL A and 8% of portfolio in MASTERCARD INCORPORATED CL A.

The fund managers got completely rid off VANGUARD S&P 500 ETF (VB), WISDOMTREE EUROPE HEDGED EQUITY FUND (JAMF) and INVESCO NASDAQ 100 ETF (BAB) stocks. They significantly reduced their stock positions in ISHARES EXPANDED TECH SECTOR ETF (IJR), SPDR BLOOMBERG 1-3 MONTH T-BILL ETF (BIL) and VANGUARD S&P 500 GROWTH ETF (IVOG). Westwind Capital opened new stock positions in NETFLIX INC COM (NFLX), UNIVERSAL TECHNICAL INST INC COM (UTI) and TEXAS PACIFIC LAND CORPORATION COM (TPL). The fund showed a lot of confidence in some stocks as they added substantially to VANGUARD CORE PLUS BOND ETF (VTIP), VANGUARD REAL ESTATE ETF (VB) and ISHARES U.S. REGIONAL BANKS ETF (AAXJ).

Spence Asset Management Annual Return Estimates Vs S&P 500

Our best estimate is that Westwind Capital made a return of 10.55% in the last quarter. In trailing 12 months, it's portfolio return was -9.33%.

New Buys

Ticker	$ Bought
netflix inc com	17,770,000
universal technical inst inc com	10,424,000
texas pacific land corporation com	7,180,000
ishares u.s. industrials etf	1,169,000
ishares msci usa momentum factor etf	628,000

New stocks bought by Spence Asset Management

Additions

Ticker	% Inc.
vanguard core plus bond etf	20.36
vanguard real estate etf	14.28
ishares u.s. regional banks etf	12.44
ishares u.s. consumer discretionary etf	10.25
spdr portfolio s&p 500 etf	6.3
ishares expanded tech-software sector etf	6.16
tr activebeta us small cap equity etf	4.2
msci inc com	2.9

Additions to existing portfolio by Spence Asset Management

Reductions

Ticker	% Reduced
ishares expanded tech sector etf	-99.97
spdr bloomberg 1-3 month t-bill etf	-38.83
vanguard s&p 500 growth etf	-9.95
visa inc com cl a	-0.42
salesforce inc com	-0.39
idexx labs inc com	-0.2
guidewire software inc com	-0.08

Spence Asset Management reduced stake in above stock

Sold off

Ticker	$ Sold
wisdomtree europe hedged equity fund	-135,000
vanguard s&p 500 etf	-206,000
invesco nasdaq 100 etf	-27,000

Spence Asset Management got rid off the above stocks

Sector Distribution

Westwind Capital has about 34.1% of it's holdings in Technology sector.

Sector	%
Technology	34.1
Financial Services	26.8
Others	11.4
Healthcare	11.1
Communication Services	8.2
Consumer Cyclical	6.3
Consumer Defensive	2.1

Market Cap. Distribution

Westwind Capital has about 84% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	44.7
MEGA-CAP	39.3
UNALLOCATED	11.4
SMALL-CAP	4.6

Stocks belong to which Index?

About 76.2% of the stocks held by Westwind Capital either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	74.1
Others	23.8
RUSSELL 2000	2.1

Top 5 Winners (%)		%
MSFT	microsoft corp com	32.3 %
TTD	the trade desk inc com cl a	31.5 %
GS	goldman sachs group inc com	29.5 %
NOW	servicenow inc com	28.9 %
IDXX	idexx labs inc com	27.7 %

Top 5 Winners ($)		$
MSFT	microsoft corp com	7.2 M
GS	goldman sachs group inc com	6.6 M
NOW	servicenow inc com	5.6 M
IDXX	idexx labs inc com	5.3 M
AMZN	amazon com inc com	4.1 M

Top 5 Losers (%)		%
ACGL	arch cap group ltd ord	-5.3 %
FICO	fair isaac corp com	-0.9 %
IJR	ishares expanded tech sector etf	-0.3 %

Top 5 Losers ($)		$
ACGL	arch cap group ltd ord	-0.5 M
FICO	fair isaac corp com	-0.1 M
IJR	ishares expanded tech sector etf	0.0 M

Spence Asset Management Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Spence Asset Management

Westwind Capital has 40 stocks in it's portfolio. About 61% of the portfolio is in top 10 stocks. ACGL proved to be the most loss making stock for the portfolio. MSFT was the most profitable stock for Westwind Capital last quarter.

Last Reported on: 11 Jul, 2025

	Ticker	Namesorted descending	% Portfolio	Shares Held	$ Value	Type	% Change
	V	visa inc com cl a	8.39	115,623	41,052,000	reduced	-0.42
Historical Trend of VISA INC COM CL A Position Held By Spence Asset Management What % of Portfolio is V?: Number of V shares held: Change in No. of Shares Held:
	MA	mastercard incorporated cl a	7.97	69,406	39,002,000	added	0.15

	AMZN	amazon com inc com	6.33	141,093	30,954,000	added	0.95

	ISRG	intuitive surgical inc com new	6.04	54,391	29,557,000	added	0.28

	MSFT	microsoft corp com	6.02	59,197	29,445,000	added	0.65

	GS	goldman sachs group inc com	5.91	40,830	28,897,000	added	0.4

	TYL	tyler technologies inc com	5.67	46,795	27,741,000	added	1.29

	NOW	servicenow inc com	5.08	24,176	24,855,000	added	0.91

	IDXX	idexx labs inc com	5.02	45,745	24,535,000	reduced	-0.2

	GOOG	alphabet inc cap stk cl c	4.53	124,836	22,145,000	added	1.31

	IOT	samsara inc com cl a	4.23	520,590	20,710,000	added	1.59

	GWRE	guidewire software inc com	3.78	78,430	18,466,000	reduced	-0.08

	NFLX	netflix inc com	3.63	13,270	17,770,000	new

		waystar hldg corp com	3.51	420,081	17,169,000	added	1.21

	MSCI	msci inc com	2.73	23,125	13,337,000	added	2.9

	FICO	fair isaac corp com	2.55	6,817	12,461,000	added	0.87

	VERX	vertex inc cl a	2.45	339,308	11,990,000	added	1.44

	CRM	salesforce inc com	2.36	42,386	11,558,000	reduced	-0.39

	UTI	universal technical inst inc com	2.13	307,591	10,424,000	new

	BIL	spdr portfolio s&p 500 etf	2.11	141,826	10,310,000	added	6.3