Troy Asset Management Ltd

Q3 2025 13F-HR Holdings

Location
London, X0
Holdings as of
9/30/2025
Date filed
11/7/2025
Form type
13F-HR
Num holdings
32
Total value ($000)
$3,894,686
Net value change ($000)
+234,081 (6.4%)
New positions
1
Sold out positions
1
Turnover %
11.3%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/7/2025 Next filing: 2/9/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 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)
ALC 176,122 NEW
CNI 114,811 80.1%
GOOGL 67,043 12.3%
A 25,607 9.0%
HUBB 15,182 11.5%
SYY 6,842 22.8%
AXP 5,785 4.0%
NKE 5,477 21.3%
ACN 2,856 17.2%
MA 2,209 3.2%
Top Reduces (Value $000, Stocks/ETFs)
VRSN -264,757 -100.0%
MSFT -55,244 -13.0%
PM -32,859 -58.8%
ADBE -17,202 -8.5%
PAYX -14,356 -16.0%
FISV -6,452 -11.8%
CB -6,420 -2.8%
CME -5,329 -5.6%
V -5,139 -1.0%
INTU -4,699 -12.7%
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