Institutional Manager · CIK 0001840750
Stenham Asset Management Ltd
GUERNSEY, Y7 · File #028-20519
Latest AUM
$200.3M
Positions
23
Top-10 Concentration
95.7%
Filings
4
Portfolio Value Over Time
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | NVIDIA CORPORATION | NVDA | +61,737 | +$11.5M | $0 |
| NEW | TALEN ENERGY CORP | TLN | +21,500 | +$8.1M | $0 |
| NEW | HONEYWELL INTL INC | 438516106 | +37,441 | +$7.3M | $0 |
| EXITED | CORE & MAIN INC | 21874C102 | -133,000 | -$7.2M | $0 |
| REDUCE | TKO GROUP HOLDINGS INC | TKO | -34,200 | -$7.1M | +$278,080 |
| REDUCE | SPDR GOLD TR | GLD | -5,925 | -$2.3M | +$14.2M |
| REDUCE | AERCAP HOLDINGS NV | AER | -15,300 | -$2.2M | +$1.4M |
| ADD | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | +2,141 | +$650,629 | +$190,453 |
| ADD | UNION PAC CORP | UNP | +1,307 | +$302,334 | -$163,390 |
| ADD | ISHARES TR | 46435U135 | +3,083 | +$148,354 | -$72,812 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202523 pos · $200.3M
- 13F HOLDINGS REPORTQ/E Sep 202521 pos · $173.9M
- 13F HOLDINGS REPORTQ/E Jun 202524 pos · $229.4M
- 13F HOLDINGS REPORTQ/E Mar 202528 pos · $245.7M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | SPDR GOLD TR | GLD | 341,907 | $135.5M | 67.64% |
| 2 | NVIDIA CORPORATION | NVDA | 61,737 | $11.5M | 5.75% |
| 3 | AMAZON COM INC | AMZN | 40,080 | $9.3M | 4.62% |
| 4 | TALEN ENERGY CORP | TLN | 21,500 | $8.1M | 4.02% |
| 5 | UNION PAC CORP | UNP | 33,657 | $7.8M | 3.89% |
| 6 | HONEYWELL INTL INC | 438516106 | 37,441 | $7.3M | 3.65% |
| 7 | AERCAP HOLDINGS NV | AER | 44,900 | $6.5M | 3.22% |
| 8 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 9,883 | $3.0M | 1.50% |
| 9 | ISHARES SILVER TR | SLV | 27,700 | $1.8M | 0.89% |
| 10 | SPROTT ASSET MANAGEMENT LP | SII | 25,000 | $1.1M | 0.57% |
| 11 | TKO GROUP HOLDINGS INC | TKO | 5,300 | $1.1M | 0.55% |
| 12 | CRH PLC | CRH | 8,400 | $1.0M | 0.52% |
| 13 | ISHARES TR | 46435U135 | 20,378 | $980,589 | 0.49% |
| 14 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 1,867 | $938,448 | 0.47% |
| 15 | MICROSOFT CORP | MSFT | 1,420 | $686,740 | 0.34% |
| 16 | MASTERCARD INCORPORATED | MA | 1,110 | $633,677 | 0.32% |
| 17 | INVESCO EXCHANGE TRADED FD T | IVZ | 7,400 | $521,030 | 0.26% |
| 18 | PG&E CORP | PCG-PX | 30,900 | $496,563 | 0.25% |
| 19 | GE AEROSPACE | 369604301 | 1,580 | $486,687 | 0.24% |
| 20 | HILTON WORLDWIDE HLDGS INC | HLT | 1,560 | $448,110 | 0.22% |