Stenham Asset Management Ltd 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Stenham Asset Management Ltd disclosed 23 US equity positions worth $200.3m in its Q4 2025 13F filing. The largest position was GLD at 67.6% of the reported book, followed by NVDA and AMZN. Against the Q3 2025 filing, it opened 3 new positions, added to 6 and reduced 4 among the top 23 holdings.
What did Stenham Asset Management Ltd own in Q4 2025? Top 23 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | GLD SPDR GOLD TR | 67.6% | $135.5m | 341,907 | -2% | reduced | |
| 2 | NVDA NVIDIA CORPORATION | Technology | 5.7% | $11.5m | 61,737 | – | new |
| 3 | AMZN AMAZON COM INC | Consumer Cyclical | 4.6% | $9.3m | 40,080 | 0% | held |
| 4 | TLN TALEN ENERGY CORP | Utilities | 4.0% | $8.1m | 21,500 | – | new |
| 5 | UNP UNION PAC CORP | Industrials | 3.9% | $7.8m | 33,657 | 4% | added |
| 6 | HONGBP HONEYWELL INTL INC | 3.6% | $7.3m | 37,441 | – | new | |
| 7 | AERCAP HOLDINGS NV | 3.2% | $6.5m | 44,900 | -25% | reduced | |
| 8 | TSM TAIWAN SEMICONDUCTOR MFG LTD | Technology | 1.5% | $3.0m | 9,883 | 28% | added |
| 9 | SLV ISHARES SILVER TR | 0.9% | $1.8m | 27,700 | -8% | reduced | |
| 10 | SPROTT ASSET MANAGEMENT LP | 0.6% | $1.1m | 25,000 | 0% | held | |
| 11 | TKO TKO GROUP HOLDINGS INC | Communication Services | 0.6% | $1.1m | 5,300 | -87% | reduced |
| 12 | CRH CRH PLC | Basic Materials | 0.5% | $1.0m | 8,400 | 0% | held |
| 13 | ISHARES TR | 0.5% | $980.6k | 20,378 | 18% | added | |
| 14 | BRK/B BERKSHIRE HATHAWAY INC DEL | 0.5% | $938.4k | 1,867 | 18% | added | |
| 15 | MSFT MICROSOFT CORP | Technology | 0.3% | $686.7k | 1,420 | 0% | held |
| 16 | MA MASTERCARD INCORPORATED | Financial Services | 0.3% | $633.7k | 1,110 | 0% | held |
| 17 | PHO INVESCO EXCHANGE TRADED FD T | 0.3% | $521.0k | 7,400 | 0% | held | |
| 18 | PCG PG&E CORP | Utilities | 0.2% | $496.6k | 30,900 | 0% | held |
| 19 | GE GE AEROSPACE | Industrials | 0.2% | $486.7k | 1,580 | 0% | held |
| 20 | HLT HILTON WORLDWIDE HLDGS INC | Consumer Cyclical | 0.2% | $448.1k | 1,560 | 0% | held |
| 21 | DHR DANAHER CORPORATION | Healthcare | 0.2% | $428.1k | 1,870 | 0% | held |
| 22 | CME CME GROUP INC | Financial Services | 0.2% | $393.2k | 1,440 | 8% | added |
| 23 | RACE FERRARI N V | Consumer Cyclical | 0.2% | $347.4k | 940 | 22% | added |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.