Shell Asset Management Co reports 77.86% decrease in ownership of COST / Costco Wholesale Corporation

Costco Wholesale Corporation

US ˙ NasdaqGS ˙ US22160K1051

Security	COST / Costco Wholesale Corporation
Institution	Shell Asset Management Co
Latest Disclosed Ownership	8,600 shares
Latest Disclosed Value	$ 7,960

On November 7, 2025 - Shell Asset Management Co filed a 13F-HR form disclosing ownership of 8,600 shares of Costco Wholesale Corporation (US:COST) valued at $7,960,418 USD as of September 30, 2025. The entity filed a previous 13F-HR on July 23, 2025 disclosing 38,839 shares of Costco Wholesale Corporation. This represents a change in shares of -77.86% during the quarter. The current value of the position is $8,362,210 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2025-11-07	2025-09-30	13F	COSTCO WHSL CORP	COM	22160K105	8,600	-30,239	-77.86	8	-81.58	0.7995
2025-07-23	2025-06-30	13F	COSTCO WHSL CORP	COM	22160K105	38,839	7,076	22.28	38	26.67	1.3276
2025-05-14	2025-03-31	13F	COSTCO WHSL CORP	COM	22160K105	31,763	-1,212	-3.68	30	0.00	1.4263
2025-02-14	2024-12-31	13F	COSTCO WHSL CORP	COM	22160K105	32,975	-540	-1.61	30	3.45	1.3200
2024-11-07	2024-09-30	13F	COSTCO WHSL CORP	COM	22160K105	33,515	-766	-2.23	30	0.00	1.3078
2024-07-25	2024-03-31	13F	COSTCO WHSL CORP	COM	22160K105	34,281	-2,196	-6.02	29	20.83	1.3268
2024-02-14	2023-12-31	13F	COSTCO WHSL CORP	COM	22160K105	36,477	-9,280	-20.28	24	-4.00	1.1121
2023-11-08	2023-09-30	13F	COSTCO WHSL CORP	COM	22160K105	45,757	-175	-0.38	26	4.17	1.0682
2023-07-28	2023-06-30	13F	COSTCO WHSL CORP	COM	22160K105	45,932	-285	-0.62	25	9.09	0.9753
2023-05-15	2023-03-31	13F	COSTCO WHSL CORP	COM	22160K105	46,217	52	0.11	23	4.76	0.9530
2023-02-07	2022-12-31	13F	COSTCO WHSL CORP	COM	22160K105	46,165	-8,855	-16.09	21	-99.92	0.9231
2022-11-14	2022-09-30	13F	COSTCO WHSL CORP	COM	22160K105	55,020	-14,626	-21.00	25,984	-22.16	1.0127
2022-08-09	2022-06-30	13F	COSTCO WHSL CORP	COM	22160K105	69,646	-6,909	-9.02	33,380	-24.28	0.9874
2022-05-04	2022-03-31	13F	COSTCO WHSL CORP	COM	22160K105	76,555	2,538	3.43	44,084	4.91	1.0405
2022-02-09	2021-12-31	13F	COSTCO WHSL CORP	COM	22160K105	74,017	-2,537	-3.31	42,019	22.15	0.8621
2021-11-04	2021-09-30	13F	COSTCO WHSL CORP	COM	22160K105	76,554	-8,618	-10.12	34,400	2.08	0.7723
2021-08-12	2021-06-30	13F	COSTCO WHSL CORP	COM	22160K105	85,172	6,259	7.93	33,700	21.16	0.6533
2021-05-10	2021-03-31	13F	COSTCO WHSL CORP	COM	22160K105	78,913	38,827	96.86	27,815	84.16	0.5565
2021-02-16	2020-12-31	13F	COSTCO WHSL CORP	COM	22160K105	40,086	4,360	12.20	15,104	19.09	0.3119
2020-11-13	2020-09-30	13F	COSTCO WHSL CORP	COM	22160K105	35,726	-8,371	-18.98	12,683	-5.15	0.2949
2020-08-10	2020-06-30	13F	COSTCO WHSL CORP	COM	22160K105	44,097	-5,171	-10.50	13,371	-4.82	0.3338
2020-05-11	2020-03-31	13F	COSTCO WHSL CORP	COM	22160K105	49,268	-4,361	-8.13	14,048	-10.88	0.3914
2020-02-13	2019-12-31	13F	COSTCO WHSL CORP	COM	22160K105	53,629	10,491	24.32	15,763	26.83	0.3396
2019-11-12	2019-09-30	13F	COSTCO WHSL CORP	COM	22160K105	43,138	-576	-1.32	12,428	7.58	0.2838
2019-08-12	2019-06-30	13F	COSTCO WHSL CORP	COM	22160K105	43,714	-1,755	-3.86	11,552	4.92	0.2556
2019-05-09	2019-03-31	13F	COSTCO WHSL CORP	COM	22160K105	45,469	-10,284	-18.45	11,010	-3.06	0.2428
2019-02-13	2018-12-31	13F	COSTCO WHSL CORP	COM	22160K105	55,753	-6,447	-10.36	11,357	-22.27	0.2831
2018-11-13	2018-09-30	13F	COSTCO WHSL CORP	COM	22160K105	62,200	-2,006	-3.12	14,610	8.88	0.2884
2018-08-10	2018-06-30	13F	COSTCO WHSL CORP	COM	22160K105	64,206	-9,463	-12.85	13,418	-3.34	0.2751
2018-05-14	2018-03-31	13F	COSTCO WHSL CORP	COM	22160K105	73,669	1,142	1.57	13,881	2.83	0.2764
2018-02-09	2017-12-31	13F	COSTCO WHSL CORP	COM	22160K105	72,527	2,722	3.90	13,499	17.71	0.2680
2017-10-20	2017-09-30	13F/A-1	COSTCO WHSL CORP	COM	22160K105	69,805	-7,378	-9.56	11,468	-7.10	0.2550
2017-10-18	2017-09-30	13F	COSTCO WHSL CORP	COM	22160K105	80,736	3,553		10,118
2017-07-26	2017-06-30	13F	COSTCO WHSL CORP	COM	22160K105	77,183	350	0.46	12,344	-4.19	0.3063
2017-04-26	2017-03-31	13F	COSTCO WHSL CORP	COM	22160K105	76,833	1,028	1.36	12,884	6.15	0.3289
2017-01-10	2016-12-31	13F	COSTCO WHSL CORP	COM	22160K105	75,805	-9,982	-11.64	12,137	-7.23	0.3281
2016-10-28	2016-09-30	13F	COSTCO WHSL CORP	COM	22160K105	85,787	-6,629	-7.17	13,083	-9.85	0.3132
2016-07-25	2016-06-30	13F	COSTCO WHSL CORP	COM	22160K105	92,416	16,726	22.10	14,513	21.68	0.3367
2016-05-11	2016-03-31	13F	COSTCO WHSL CORP	COM	22160K105	75,690	5,335	7.58	11,927	4.97	0.2856
2016-02-05	2015-12-31	13F	COSTCO WHSL CORP	COM	22160K105	70,355	-10,381	-12.86	11,362	12.29	0.2683
2015-10-13	2015-09-30	13F	COSTCO WHSL CORP	COM	22160K105	80,736	5,712	7.61	10,118	-0.15	0.1603
2015-07-30	2015-06-30	13F	COSTCO WHSL CORP	COM	22160K105	75,024	-10,439	-12.21	10,133	-21.73	0.2028
2015-05-07	2015-03-31	13F	COSTCO WHSL CORP	COM	22160K105	85,463	85,463	0.00	12,947		0.2254
2015-02-04	2014-12-31	13F	COSTCO WHSL CORP	COM	22160K105	0	-80,736	-100.00	0	-100.00
2014-10-24	2014-09-30	13F	COSTCO WHSL CORP	COM	22160K105	80,736	-2,375	-2.86	10,118	5.72	0.1571
2014-08-08	2014-06-30	13F	COSTCO WHSL CORP	COM	22160K105	83,111	-5,996	-6.73	9,571	-3.82	0.1475
2014-05-07	2014-03-31	13F	COSTCO WHSL CORP	COM	22160K105	89,107	1,554	1.77	9,951	-4.51	0.1653
2014-02-03	2013-12-31	13F/A-1	COSTCO WHSL CORP	COM	22160K105	87,553	-21,323	-19.58	10,421	-16.89	0.1773
2014-01-27	2013-12-31	13F	COSTCO WHSL CORP	COM	22160K105	87,553			10,421
2013-10-28	2013-09-30	13F	COSTCO WHSL CORP	COM	22160K105	108,876	-3,890	-3.45	12,539	0.56	0.2303
2013-08-01	2013-06-30	13F	COSTCO WHSL CORP	COM	22160K105	112,766	112,766		12,469		0.2374

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.