Instuitional Investor - Stonepine Asset Management Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Taiwan Semiconductor Mfg Co Ltd	TSM	6,545,779	$1,828,403,999	11.38%
2.	Alphabet Inc.	GOOGL	6,398,927	$1,555,579,154	9.68%
3.	Microsoft Corp	MSFT	2,908,036	$1,506,217,246	9.37%
4.	Autozone Inc	AZO	265,305	$1,138,222,123	7.08%
5.	Moodys Corp	MCO	2,264,043	$1,078,771,209	6.71%