Winslow Capital Management (Justin Kelly) latest 13F portfolio: 60 holdings worth $25.6B as of Q1 2026.
Backtested since 2020: mirroring Winslow Capital Management's reported 13F equity holdings each quarter would have returned +160.1% versus +185.2%for the S&P 500 (+16.6% annualized). See the Performance tab for the full equity curve.
Investor: Justin Kelly
Number of Assets: 60
Reporting Period: Q1 - 2026
Holdings at Report: $25,648,413,845
Return $ Since Report: +$5,320,286,722
Return % Since Report: +20.74%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Analog Devices Inc. (ADI) | Equity | +58.29% | 906,437 | 1.12% | $318.14 | $380.29 | $288,373,866 | $344,708,927 | +$56,335,061 | +19.54% |
| Amazon.com Inc. (AMZN) | Equity | -32.92% | 5,414,765 | 4.40% | $208.27 | $277.42 | $1,127,733,108 | $1,502,164,106 | +$374,430,998 | +33.20% |
| Broadcom Inc. (AVGO) | Equity | +14.86% | 5,114,520 | 6.17% | $309.51 | $418.16 | $1,582,995,084 | $2,138,687,683 | +$555,692,599 | +35.10% |
| O'Reilly Automotive Inc. (ORLY) | Equity | +19799.85% | 2,951,148 | 1.06% | $92.31 | $91.83 | $272,420,472 | $271,003,921 | -$1,416,551 | -0.52% |
| Alphabet Inc. (GOOG) | Equity | +10.24% | 6,642,467 | 7.43% | $286.86 | $375.35 | $1,905,458,083 | $2,493,249,988 | +$587,791,905 | +30.85% |
| Arista Networks Inc. (ANET) | Equity | +8.90% | 2,065,312 | 0.99% | $122.78 | $190.51 | $253,579,007 | $393,462,589 | +$139,883,582 | +55.16% |
| Intuit Inc. (INTU) | Equity | -28.37% | 651,617 | 1.10% | $432.38 | $323.60 | $281,746,159 | $210,863,261 | -$70,882,898 | -25.16% |
| Mckesson Corp. (MCK) | Equity | -13.16% | 379,576 | 1.28% | $865.36 | $830.43 | $328,469,887 | $315,211,298 | -$13,258,589 | -4.04% |
| Stryker Corp. (SYK) | Equity | -66.13% | 440,096 | 0.56% | $328.59 | $335.96 | $144,611,145 | $147,854,652 | +$3,243,507 | +2.24% |
| Spotify Technology S.A. (SPOT) | Equity | -44.14% | 620,901 | 1.17% | $484.91 | $478.17 | $301,081,103 | $296,896,231 | -$4,184,872 | -1.39% |
| Boston Scientific Corp. (BSX) | Equity | -49.93% | 4,708 | 0.00% | $62.75 | $49.09 | $295,427 | $231,116 | -$64,311 | -21.77% |
| Visa Inc. (V) | Equity | -31.71% | 1,356,780 | 1.60% | $302.24 | $369.59 | $410,073,187 | $501,452,320 | +$91,379,133 | +22.28% |
| Chipotle Mexican Grill Inc. (CMG) | Equity | +34.05% | 38,929 | 0.00% | $32.01 | $33.82 | $1,246,117 | $1,316,579 | +$70,462 | +5.65% |
| Oracle Corp. (ORCL) | Equity | -72.72% | 471,490 | 0.27% | $147.11 | $145.74 | $69,360,894 | $68,714,953 | -$645,941 | -0.93% |
| Moody's Corp. (MCO) | Equity | -94.10% | 1,425 | 0.00% | $436.25 | $483.67 | $621,656 | $689,230 | +$67,574 | +10.87% |
| Vanguard Growth Index Fund ETF Shares (VUG) | Equity | -57.52% | 5,966 | 0.01% | $436.79 | $89.09 | $2,605,889 | $531,511 | -$2,074,378 | -79.60% |
| Advanced Micro Devices Inc. (AMD) | Equity | +127.89% | 1,895,428 | 1.50% | $203.43 | $518.58 | $385,586,918 | $982,931,052 | +$597,344,134 | +154.92% |
| Apple Inc. (AAPL) | Equity | +11.83% | 9,259,247 | 9.16% | $253.79 | $309.38 | $2,349,904,296 | $2,864,625,837 | +$514,721,541 | +21.90% |
| C.H. Robinson Worldwide Inc. (CHRW) | Equity | +100% | 1,582,993 | 1.02% | $166.07 | $154.75 | $262,887,647 | $244,968,167 | -$17,919,480 | -6.82% |
| Meta Platforms Inc. (META) | Equity | -5.22% | 1,738,950 | 3.88% | $572.13 | $587.94 | $994,905,464 | $1,022,398,263 | +$27,492,799 | +2.76% |
| Quanta Services Inc. (PWR) | Equity | +3.92% | 700,000 | 1.50% | $549.02 | $693.00 | $384,314,000 | $485,100,000 | +$100,786,000 | +26.22% |
| Tesla Inc. (TSLA) | Equity | -3.46% | 1,459,239 | 2.12% | $371.75 | $327.35 | $542,472,100 | $477,681,887 | -$64,790,213 | -11.94% |
| Amphenol Corp. (APH) | Equity | -64.13% | 1,328,007 | 0.65% | $126.35 | $171.33 | $167,793,684 | $227,527,439 | +$59,733,755 | +35.60% |
| Atlassian Corp. (TEAM) | Equity | +100% | 570,817 | 0.15% | $68.25 | $110.31 | $38,958,260 | $62,966,823 | +$24,008,563 | +61.63% |
| Ishares S&P 500 Growth ETF (IVW) | Equity | -68.09% | 3,323 | 0.00% | $113.11 | $141.53 | $375,865 | $470,304 | +$94,439 | +25.13% |
| Linde PLC (LIN) | Equity | -8.94% | 438 | 0.00% | $495.76 | $484.64 | $217,143 | $212,272 | -$4,871 | -2.24% |
| Applovin Corp. (APP) | Equity | +100% | 431,891 | 0.67% | $398.00 | $419.70 | $171,892,618 | $181,264,653 | +$9,372,035 | +5.45% |
| Texas Instruments Inc. (TXN) | Equity | +100% | 686,171 | 0.52% | $194.14 | $283.63 | $133,213,238 | $194,618,681 | +$61,405,443 | +46.10% |
| Booking Holdings Inc. (BKNG) | Equity | +225302.80% | 322,326 | 1.35% | $1,072.65 | $194.27 | $345,741,711 | $62,618,272 | -$283,123,439 | -81.89% |
| Lam Research Corp. (LRCX) | Equity | -33.60% | 14,589 | 0.01% | $213.66 | $317.74 | $3,117,086 | $4,635,509 | +$1,518,423 | +48.71% |
| Hilton Worldwide Holdings Inc. (HLT) | Equity | +4.58% | 1,744,997 | 2.07% | $304.08 | $312.07 | $530,618,688 | $544,561,214 | +$13,942,526 | +2.63% |
| Eli Lilly And Company (LLY) | Equity | +0.05% | 757,586 | 2.72% | $919.77 | $1,115.68 | $696,804,874 | $845,223,548 | +$148,418,674 | +21.30% |
| Microsoft Corp. (MSFT) | Equity | -29.15% | 4,488,492 | 6.48% | $370.17 | $492.81 | $1,661,505,083 | $2,211,973,743 | +$550,468,660 | +33.13% |
| Netflix Inc. (NFLX) | Equity | +10.96% | 6,271,330 | 2.35% | $96.15 | $73.57 | $602,988,380 | $461,381,748 | -$141,606,632 | -23.48% |
| Parker-Hannifin Corp. (PH) | Equity | +132.71% | 381,899 | 1.33% | $895.24 | $992.65 | $341,891,261 | $379,092,042 | +$37,200,781 | +10.88% |
| Vertiv Holdings Co (VRT) | Equity | +19624.61% | 864,727 | 0.84% | $250.58 | $269.93 | $216,683,292 | $233,415,759 | +$16,732,467 | +7.72% |
| CME Group Inc. (CME) | Equity | +100% | 488,161 | 0.56% | $295.35 | $262.63 | $144,178,351 | $128,205,723 | -$15,972,628 | -11.08% |
| Servicenow Inc. (NOW) | Equity | -82.03% | 499,866 | 0.20% | $104.55 | $118.14 | $52,260,990 | $59,054,169 | +$6,793,179 | +13.00% |
| ASML Holding N.V. (ASML) | Equity | +184463.68% | 350,671 | 1.81% | $1,320.83 | $1,711.89 | $463,176,776 | $600,310,178 | +$137,133,402 | +29.61% |
| Elanco Animal Health Inc. (ELAN) | Equity | +100% | 13,614,355 | 1.27% | $23.93 | $25.60 | $325,791,515 | $348,527,488 | +$22,735,973 | +6.98% |
| GE Vernova Inc. (GEV) | Equity | -27.13% | 533,971 | 1.82% | $872.90 | $1,018.53 | $466,103,286 | $543,865,483 | +$77,762,197 | +16.68% |
| Intuitive Surgical Inc. (ISRG) | Equity | -8.60% | 1,160,360 | 2.09% | $460.99 | $368.27 | $534,914,356 | $427,319,975 | -$107,594,381 | -20.11% |
| Micron Technology Inc. (MU) | Equity | +100% | 583,681 | 0.77% | $337.84 | $892.67 | $197,190,789 | $521,034,518 | +$323,843,729 | +164.23% |
| Morgan Stanley (MS) | Equity | +100% | 965,439 | 0.62% | $164.57 | $217.04 | $158,882,296 | $209,538,881 | +$50,656,585 | +31.88% |
| Palantir Technologies Inc. (PLTR) | Equity | +135.03% | 3,450,888 | 1.97% | $146.28 | $162.66 | $504,795,897 | $561,321,442 | +$56,525,545 | +11.20% |
| Shopify Inc. (SHOP) | Equity | +2.30% | 3,024,200 | 1.40% | $118.62 | $123.30 | $358,730,605 | $372,883,860 | +$14,153,255 | +3.95% |
| Costco Wholesale Corp. (COST) | Equity | +100% | 10,221 | 0.04% | $996.43 | $947.85 | $10,184,511 | $9,687,975 | -$496,536 | -4.88% |
| KLA Corp. (KLAC) | Equity | +66.65% | 160,780 | 0.92% | $1,472.41 | $195.45 | $236,734,080 | $31,424,451 | -$205,309,629 | -86.73% |
| Alphabet Inc. (GOOGL) | Equity | -8.46% | 8,398 | 0.01% | $287.56 | $377.65 | $2,414,929 | $3,171,505 | +$756,576 | +31.33% |
| Ishares Russell 1000 Growth ETF (IWF) | Equity | +30.91% | 92,176 | 0.15% | $426.40 | $124.30 | $39,303,846 | $11,457,477 | -$27,846,369 | -70.85% |
| Mercadolibre Inc. (MELI) | Equity | -31.55% | 141 | 0.00% | $1,729.02 | $1,888.50 | $243,792 | $266,279 | +$22,486 | +9.22% |
| GE Aerospace (GE) | Equity | +85.61% | 2,386,803 | 2.64% | $283.77 | $377.28 | $677,303,087 | $900,493,036 | +$223,189,949 | +32.95% |
| Howmet Aerospace Inc. (HWM) | Equity | -5.27% | 1,486,581 | 1.34% | $230.46 | $288.20 | $342,597,457 | $428,432,644 | +$85,835,187 | +25.05% |
| Nvidia Corp. (NVDA) | Equity | -1.57% | 16,654,394 | 11.32% | $174.40 | $211.94 | $2,904,526,314 | $3,529,732,264 | +$625,205,950 | +21.53% |
| Snowflake Inc. (SNOW) | Equity | +3.41% | 3,226,305 | 1.90% | $150.82 | $316.77 | $486,591,321 | $1,021,996,635 | +$535,405,314 | +110.03% |
| Trane Technologies PLC (TT) | Equity | +2714.18% | 792,529 | 1.29% | $416.74 | $472.24 | $330,278,536 | $374,263,895 | +$43,985,359 | +13.32% |
| Ecolab Inc. (ECL) | Equity | -16.60% | 528,620 | 0.55% | $266.02 | $283.14 | $140,623,493 | $149,673,467 | +$9,049,974 | +6.44% |
| Uber Technologies Inc. (UBER) | Equity | -17.66% | 4,849 | 0.00% | $71.93 | $71.99 | $348,789 | $349,080 | +$291 | +0.08% |
| Compass Inc. (COMP) | Equity | 0% | 6,934,620 | 0.20% | $7.31 | $12.00 | $50,692,072 | $83,215,440 | +$32,523,368 | +64.16% |
| Mastercard Inc. (MA) | Equity | -32.49% | 836,577 | 1.63% | $499.66 | $571.10 | $418,004,065 | $477,769,125 | +$59,765,060 | +14.30% |