Sonen Capital LLC

San Francisco, CA · CIK 1557787 · 13F filing filed 2024-02-02

SEC-registered investment adviser since 2011 · limited liability company

Assets managed$1.1bn
Staff19 · 12 in investment roles
Main clients (by assets)Charities 47%, High net worth individuals 38%, Private funds 15%
Private funds4 · $169.2m gross assets
Form ADV · 2026-05-06SEC adviser record

Legal entitySONEN CAPITAL LLC (US)

Kindprivate equity, institutions
Others nearbySan Francisco, CA

As an employer

Offices in1 country
Private fundsprivate equity 3, other private 1

US visa salary filings

Filings FY2024–20253
Median salary offered$130,000
Middle half$122,500 – $130,000
Job titles1

Job title	Filings	Median	Range
Investment AnalystSan Francisco, CA	3	$130,000	$115,000 – $130,000

Source: US Department of Labor, Labor Condition Application disclosure data (certified, full-time, yearly equivalent). These are the salaries the employer committed to pay the visa roles it filed for, at least the prevailing wage for the job and place; they are not the pay of all its staff. Filed by: Sonen Capital LLC.

$52.7m reported value +3.5% vs Q3 2023

70positions

42.1%in top 10

6 new 12 added 20 reduced 11 sold out vs Q3 2023

This report includes the holdings of 2 other managers that share the investment decisions:

GENERATION INVESTMENT MANAGEMENT LLP – files its own report too; $21.2m of shares are in both
KBI Global Investors (North America) Ltd – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q4 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MERCK & CO INC COM MRK	MRK	70,607	$7.8m14.70%	14.70%	Added +49	+49 0.1%
2	MICROSOFT CORP COM MSFT	MSFT	10,047	$3.8m7.16%	7.16%	Reduced -85	-85 -0.8%
3	AMAZON COM INC COM AMZN	AMZN	15,211	$2.3m4.38%	4.38%	Unchanged
4	APPLIED MATLS INC COM AMAT	AMAT	9,049	$1.5m2.78%	2.78%	Reduced -970	-970 -9.7%
5	XYLEM INC COM XYL	XYL	12,663	$1.4m2.75%	2.75%	Reduced -10	-10 -0.1%
6	AIRBNB INC COM CL A ABNB	ABNB	9,085	$1.2m2.35%	2.35%	Unchanged
7	APPLE INC COM AAPL	AAPL	5,767	$1.1m2.11%	2.11%	Unchanged
8	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	1,963	$1.0m1.98%	1.98%	Added +162	+162 9.0%
9	EQUIFAX INC COM EFX	EFX	4,201	$1.0m1.97%	1.97%	Added +387	+387 10.2%
10	GARTNER INC COM IT	IT	2,227	$1.0m1.90%	1.90%	Unchanged
11	HENRY SCHEIN INC COM HSIC	HSIC	13,031	$986.6k1.87%	1.87%	Unchanged
12	AMERICAN WTR WKS CO INC NEW COM AWK	AWK	7,261	$958.4k1.82%	1.82%	Added +189	+189 2.7%
13	DANAHER CORPORATION COM DHR	DHR	4,085	$945.0k1.79%	1.79%	Reduced -300	-300 -6.8%
14	ANALOG DEVICES INC COM ADI	ADI	4,730	$939.2k1.78%	1.78%	Unchanged
15	ALPHABET INC CAP STK CL A GOOGL	GOOGL	6,643	$928.0k1.76%	1.76%	Unchanged
16	PURE STORAGE INC CL A P	P	25,650	$914.7k1.73%	1.73%	Unchanged
17	NUTANIX INC CL A NTNX	NTNX	18,663	$890.0k1.69%	1.69%	Added +545	+545 3.0%
18	JONES LANG LASALLE INC COM JLL	JLL	4,569	$862.9k1.64%	1.64%	Unchanged
19	ESSENTIAL UTILS INC COM WTRG	WTRG	21,589	$806.3k1.53%	1.53%	Unchanged
20	CBRE GROUP INC CL A CBRE	CBRE	8,381	$780.2k1.48%	1.48%	Unchanged
21	MERCADOLIBRE INC COM MELI	MELI	467	$733.9k1.39%	1.39%	Reduced -49	-49 -9.5%
22	TRIMBLE INC COM TRMB	TRMB	13,365	$711.0k1.35%	1.35%	Added +6.4k	+6,431 92.8%
23	ROBLOX CORP CL A RBLX	RBLX	15,446	$706.2k1.34%	1.34%	Unchanged
24	TWILIO INC CL A TWLO	TWLO	9,288	$704.7k1.34%	1.34%	Unchanged
25	TEXAS INSTRS INC COM TXN	TXN	4,090	$697.2k1.32%	1.32%	Reduced -1.5k	-1,515 -27.0%
26	SALESFORCE INC COM CRM	CRM	2,636	$693.6k1.32%	1.32%	Added +317	+317 13.7%
27	MASTERCARD INCORPORATED CL A MA	MA	1,524	$650.0k1.23%	1.23%	Unchanged
28	AECOM COM ACM	ACM	6,882	$636.1k1.21%	1.21%	Reduced -500	-500 -6.8%
29	ROPER TECHNOLOGIES INC COM ROP	ROP	1,115	$607.9k1.15%	1.15%	Reduced -60	-60 -5.1%
30	IDEX CORP COM IEX	IEX	2,776	$602.7k1.14%	1.14%	Added +319	+319 13.0%
31	SCHWAB CHARLES CORP COM SCHW	SCHW	8,690	$597.9k1.13%	1.13%	Reduced -1.2k	-1,247 -12.6%
32	WATERS CORP COM WAT	WAT	1,786	$588.0k1.11%	1.11%	Unchanged
33	VISA INC COM CL A V	V	2,230	$580.6k1.10%	1.10%	Unchanged
34	BECTON DICKINSON & CO COM BDX	BDX	2,373	$578.6k1.10%	1.10%	Unchanged
35	NVIDIA CORPORATION COM NVDA	NVDA	1,094	$541.8k1.03%	1.03%	Unchanged
36	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	5,124	$533.4k1.01%	1.01%	Unchanged
37	ECOLAB INC COM ECL	ECL	2,599	$515.5k0.98%	0.98%	Added +18	+18 0.7%
38	CARLISLE COS INC COM CSL	CSL	1,493	$466.5k0.88%	0.88%	Reduced -255	-255 -14.6%
39	COOPER COS INC COM NEW COM NEW		1,215	$459.8k0.87%	0.87%	Unchanged
40	SMITH A O CORP COM AOS	AOS	5,334	$439.7k0.83%	0.83%	Reduced -3.8k	-3,826 -41.8%
41	WASTE MGMT INC DEL COM WM	WM	2,419	$433.2k0.82%	0.82%	Unchanged
42	AVERY DENNISON CORP COM AVY	AVY	2,134	$431.4k0.82%	0.82%	Unchanged
43	MARVELL TECHNOLOGY INC COM MRVL	MRVL	7,145	$430.9k0.82%	0.82%	Unchanged
44	AGILENT TECHNOLOGIES INC COM A	A	3,050	$424.0k0.80%	0.80%	Unchanged
45	CORE & MAIN INC CL A CNM	CNM	10,474	$423.3k0.80%	0.80%	Reduced -1.4k	-1,434 -12.0%
46	NIKE INC CL B NKE	NKE	3,895	$422.9k0.80%	0.80%	Unchanged
47	META PLATFORMS INC CL A META	META	1,191	$421.6k0.80%	0.80%	Added +11	+11 0.9%
48	ISHARES TR RUS MID CAP ETF IWR	IWR	5,320	$413.5k0.78%	0.78%	Unchanged
49	ISHARES TR RUSSELL 2000 ETF IWM	IWM	1,956	$392.6k0.74%	0.74%	Unchanged
50	STANTEC INC COM STN	STN	4,838	$390.1k0.74%	0.74%	Reduced -364	-364 -7.0%
51	TETRA TECH INC NEW COM TTEK	TTEK	2,186	$364.9k0.69%	0.69%	Reduced -433	-433 -16.5%
52	BAXTER INTL INC COM BAX	BAX	9,346	$361.4k0.69%	0.69%	Added +2.2k	+2,250 31.7%
53	STRYKER CORPORATION COM SYK	SYK	1,097	$329.4k0.62%	0.62%	Unchanged
54	COSTCO WHSL CORP NEW COM COST	COST	446	$301.1k0.57%	0.57%	Unchanged
55	HOME DEPOT INC COM HD	HD	839	$290.8k0.55%	0.55%	Unchanged
56	JOHNSON & JOHNSON COM JNJ	JNJ	1,777	$278.5k0.53%	0.53%	Reduced -539	-539 -23.3%
57	ITRON INC COM ITRI	ITRI	3,632	$274.3k0.52%	0.52%	Reduced -1.1k	-1,118 -23.5%
58	OKTA INC CL A OKTA	OKTA	3,000	$271.6k0.51%	0.51%	Unchanged
59	STARBUCKS CORP COM SBUX	SBUX	2,719	$261.1k0.50%	0.50%	Added +73	+73 2.8%
60	EDWARDS LIFESCIENCES CORP COM EW	EW	3,417	$260.5k0.49%	0.49%	Reduced -4.9k	-4,865 -58.7%
61	DENTSPLY SIRONA INC COM XRAY	XRAY	7,282	$259.2k0.49%	0.49%	New
62	TORO CO COM TTC	TTC	2,664	$255.7k0.48%	0.48%	New
63	ADVANCED DRAIN SYS INC DEL COM WMS	WMS	1,772	$249.2k0.47%	0.47%	Reduced -2.2k	-2,179 -55.1%
64	ALKERMES PLC SHS ALKS	ALKS	8,740	$242.4k0.46%	0.46%	Unchanged
65	UNION PAC CORP COM UNP	UNP	962	$236.3k0.45%	0.45%	New
66	CALIFORNIA WTR SVC GROUP COM CWT	CWT	4,451	$230.9k0.44%	0.44%	New
67	VERALTO CORP COM SHS VLTO	VLTO	2,769	$227.8k0.43%	0.43%	New
68	ABBVIE INC COM ABBV	ABBV	1,381	$214.0k0.41%	0.41%	Reduced -39	-39 -2.8%
69	ADOBE INC COM ADBE	ADBE	351	$209.4k0.40%	0.40%	New
70	COMPANHIA DE SANEAMENTO BASI SPONSORED ADR SBS	SBS	12,500	$190.4k0.36%	0.36%	Reduced -1.3k	-1,300 -9.4%

Sold out since Q3 2023

Security	Ticker	Shares held before	Value then
MONDELEZ INTL INC MDLZ	MDLZ	17,233	$1.2m17.2k shares
FORTINET INC FTNT	FTNT	12,156	$713.3k12.2k shares
COMMUNITY WEST BANCSHARES		41,890	$544.2k41.9k shares
WATSCO INC WSO	WSO	1,426	$538.6k1.4k shares
PALO ALTO NETWORKS INC PANW	PANW	1,468	$344.2k1.5k shares
ZEBRA TECHNOLOGIES CORPORATI ZBRA	ZBRA	1,323	$312.9k1.3k shares
MARKEL GROUP INC MKL	MKL	212	$312.2k212 shares
VEEVA SYS INC VEEV	VEEV	1,212	$246.6k1.2k shares
LINDSAY CORP LNN	LNN	1,782	$209.7k1.8k shares
PEPSICO INC PEP	PEP	1,194	$202.3k1.2k shares
ENEL CHILE S.A. ENIC	ENIC	10,508	$31.1k10.5k shares