The largest contributors to Q4 performance were Microsoft, Workday, and Amazon, while the largest detractors were Mengniu Dairy, Aon, and CP All.
We trimmed positions in MercadoLibre, Workday, S&P Global, and Atlassian on strength and added to positions in Danaher, Canadian Pacific Kansas City (CPKC), Autodesk, Novo Nordisk, Alcon, and Aon on weakness; no positions were liquidated, and no new positions were initiated during the period.