Stenham Asset Management Ltd

Q4 2025 13F-HR Holdings

Location
Guernsey, Y7
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
23
Total value ($000)
$200,319
Net value change ($000)
+26,396 (15.2%)
New positions
3
Sold out positions
1
Turnover %
17.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
GLD 11,857 9.6%
NVDA 11,514 NEW
TLN 8,059 NEW
HON 7,304 NEW
TSM 841 38.9%
SLV 513 40.4%
AMZN 451 5.1%
CEF 228 24.9%
BRK-B 140 17.5%
UNP 139 1.8%
Top Reduces (Value $000, Stocks/ETFs)
CNM -7,159 -100.0%
TKO -6,869 -86.1%
AER -829 -11.4%
MSFT -48 -6.5%
RACE -27 -7.2%
PHO -13 -2.4%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type