Troy Asset Management Ltd

Q4 2025 13F-HR Holdings

Location
London, X0
Holdings as of
12/31/2025
Date filed
2/9/2026
Form type
13F-HR
Num holdings
31
Total value ($000)
$3,880,296
Net value change ($000)
-14,390 (-0.4%)
New positions
1
Sold out positions
2
Turnover %
5.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/7/2025 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)
HUBB 97,258 65.8%
CNI 29,780 11.5%
AMZN 27,137 NEW
CB 23,898 10.7%
A 18,792 6.1%
ACN 12,901 66.4%
ALC 12,899 7.3%
SPGI 5,707 35.5%
INTU 4,279 13.3%
BKNG 3,794 9.4%
Top Reduces (Value $000, Stocks/ETFs)
V -297,460 -61.1%
AXP -152,132 -100.0%
FISV -48,238 -100.0%
MSFT -25,033 -6.8%
GOOGL -23,379 -3.8%
PAYX -11,015 -14.6%
META -7,574 -12.8%
ADP -4,636 -13.3%
SYY -4,239 -11.5%
TTWO -3,825 -18.5%
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