CIK: 0001601407
Total reported value
$3.4B
Reporting period: 2026-03-31 · Number of holdings: 30
Troy Asset Management Ltd disclosed 30 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $3.4B and a quarterly turnover rate of 29.0%.
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Troy Asset Management Ltd's disclosed holdings carry a Herfindahl concentration index of 0.081 — mathematically equivalent to about 12 equally-sized positions, well below its 30 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.21), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim V
-32.0% -$263.8M
Trim GOOGL
-21.3% -$162.9M
Add CB
+10.4% $37.8M
Add HUBB
+0.4% $26.9M
Trim MSFT
-3.5% -$89.9M
Add CNI
-3.9% -$3.4M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | V | Visa Inc-class A Shares | Stock-Financials | 14.71% | -4.80% | -31.96% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 12.69% | -2.47% | -21.28% | |
| 3 | CB | Chubb Limited | Stock-Financials | 8.51% | +2.14% | +10.38% | |
| 4 | CNI | Canadian Natl Railway Co | Stock-Industrials | 8.49% | +1.07% | -3.92% | |
| 5 | A | Agilent Technologies INC | Stock-Healthcare | 8.21% | -0.23% | +0.31% | |
| 6 | HUBB | Hubbell INC | Stock-Industrials | 8.11% | +1.80% | +0.43% | |
| 7 | MSFT | Microsoft CORP | Stock-Tech | 7.59% | -1.28% | -3.46% | |
| 8 | VRSN | Verisign INC | Stock-Tech | 5.80% | +5.80% | NEW | |
| 9 | ALC | Alcon Inc. | Stock-Healthcare | 5.28% | +0.41% | +0.05% | |
| 10 | ADBE | Adobe INC | Stock-Tech | 3.81% | -0.93% | -0.02% | |
| 11 | CME | Cme Group INC | Stock-Financials | 2.01% | -0.20% | -27.25% | |
| 12 | MA | Mastercard INC - A | Stock-Financials | 1.91% | — | -1.03% | |
| 13 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.23% | -0.11% | -8.47% | |
| 14 | PAYX | Paychex INC | Stock-Tech | 1.01% | -0.65% | -36.44% | |
| 15 | TXN | Texas Instruments INC | Stock-Tech | 0.96% | +0.15% | -8.20% | |
| 16 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 0.96% | -0.18% | -7.86% | |
| 17 | INTU | Intuit INC | Stock-Tech | 0.92% | -0.02% | +29.83% | |
| 18 | PEP | Pepsico INC | Stock-Consumer Staples | 0.91% | -0.03% | -22.26% | |
| 19 | SYY | Sysco CORP | Stock-Consumer Staples | 0.86% | +0.02% | -8.21% | |
| 20 | ACN | Accenture plc | Stock-Tech | 0.82% | -0.01% | +14.98% | |
| 21 | NKE | Nike INC -cl B | Stock-Consumer Disc | 0.79% | -0.10% | -8.17% | |
| 22 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.76% | +0.06% | +3.99% | |
| 23 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.67% | +0.05% | -8.34% | |
| 24 | ADP | Automatic Data Processing | Stock-Tech | 0.65% | -0.13% | -8.19% | |
| 25 | PM | Philip Morris International | Stock-Consumer Staples | 0.64% | +0.06% | -6.59% | |
| 26 | SPGI | S&p Global INC | Stock-Financials | 0.52% | -0.04% | -1.32% | |
| 27 | KVUE | Kenvue INC | Stock-Consumer Staples | 0.42% | +0.03% | -8.28% | |
| 28 | TTWO | Take-two Interactive Softwre | Stock-Comm Services | 0.38% | -0.06% | -1.34% | |
| 29 | MCO | Moody's CORP | Stock-Financials | 0.37% | -0.01% | -1.35% | |
| 30 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | — | — | — |
Performance for Q3 2026
+1.7%
Performance Last 4 Quarters
+18.3%
Based on 90% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 30 | $3.4B | 29 | |
| 2025-12-31 | 31 | $3.9B | 15 | |
| 2025-09-30 | 32 | $3.9B | 29 | |
| 2025-06-30 | 31 | $3.7B | 0 | |
| 2025-03-31 | 31 | $3.7B | 100 | |
| 2024-12-31 | 31 | $3.0B | 0 | |
| 2024-09-30 | 31 | $3.1B | 0 | |
| 2024-06-30 | 33 | $3.1B | 100 | |
| 2024-03-31 | 31 | $3.2B | 0 | |
| 2023-12-31 | 32 | $3.1B | 0 | |
| 2023-09-30 | 35 | $3.2B | 0 | |
| 2023-06-30 | 34 | $3.4B | 0 | |
| 2023-03-31 | 34 | $3.3B | 0 | |
| 2022-12-31 | 34 | $3.5B | 0 | |
| 2022-09-30 | 34 | $3.4B | 0 | |
| 2022-06-30 | 34 | $4.8B | 0 | |
| 2022-03-31 | 35 | $5.6B | 0 | |
| 2021-12-31 | 34 | $5.7B | 0 | |
| 2021-09-30 | 34 | $5.2B | 0 | |
| 2021-06-30 | 35 | $5.8B | 0 | |
| 2021-03-31 | 39 | $5.3B | 0 | |
| 2020-12-31 | 46 | $4.9B | 0 | |
| 2020-09-30 | 44 | $4.1B | 0 | |
| 2020-06-30 | 45 | $3.6B | 0 | |
| 2020-03-31 | 44 | $3.0B | 0 | |
| 2019-12-31 | 44 | $2.7B | 0 | |
| 2019-09-30 | 42 | $2.5B | 0 | |
| 2019-06-30 | 42 | $2.4B | 100 | |
| 2019-03-31 | 42 | $2.0B | 0 | |
| 2018-12-31 | 42 | $2.0B | 13 | |
| 2018-09-30 | 43 | $2.1B | 11 | |
| 2018-06-30 | 43 | $1.9B | 31 | |
| 2018-03-31 | 43 | $2.4B | 0 | |
| 2017-12-31 | 43 | $2.4B | 12 | |
| 2017-09-30 | 43 | $2.2B | 100 | |
| 2017-06-30 | 43 | $2.4B | 100 | 12209S129121613181721 |
| 2017-03-31 | 40 | $2.0B | 0 | 12209S129121613949181 |
| 2016-12-31 | 40 | $2.0B | 100 | 12209S129121613949181 |
| 2016-09-30 | 31 | $1.9B | 20 | |
| 2016-06-30 | 30 | $1.9B | 16 | |
| 2016-03-31 | 30 | $1.8B | 41 | |
| 2015-12-31 | 31 | $1.7B | 9 | |
| 2015-09-30 | 30 | $1.6B | 38 | |
| 2015-06-30 | 28 | $1.6B | 8 | |
| 2015-03-31 | 28 | $10.4B | 0 | |
| 2014-12-31 | 24 | $1.5B | 0 |
Troy Asset Management Ltd's most significant position changes for 2026-03-31: New buy: Verisign INC (VRSN); Sold out: Paypal Holdings INC (PYPL); Trim: Visa Inc-class A Shares (V) — shares -31.96%; Trim: Alphabet Inc-cl A (GOOGL) — shares -21.28%; Add: Chubb Limited (CB) — shares +10.38%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CB | Chubb Limited | +2.1% | +10.38% | Add |
| 2 | HUBB | Hubbell INC | +1.8% | +0.43% | Add |
| 3 | CNI | Canadian Natl Railway Co | +1.1% | -3.92% | Trim |
| 4 | ALC | Alcon Inc. | +0.4% | +0.05% | Add |
| 5 | TXN | Texas Instruments INC | +0.2% | -8.20% | Trim |
| 6 | AMZN | Amazon.com INC | +0.1% | +3.99% | Add |
| 7 | PM | Philip Morris International | +0.1% | -6.59% | Trim |
| 8 | MCD | Mcdonald's CORP | +0.1% | -8.34% | Trim |
| 9 | KVUE | Kenvue INC | 0% | -8.28% | Trim |
| 10 | SYY | Sysco CORP | 0% | -8.21% | Trim |
| 11 | MA | Mastercard INC - A | — | -1.03% | Trim |
| 12 | TSM | Taiwan Semiconductor-sp Adr | — | — | Unchanged |
| 13 | ACN | Accenture plc | 0% | +14.98% | Add |
| 14 | MCO | Moody's CORP | 0% | -1.35% | Trim |
| 15 | INTU | Intuit INC | 0% | +29.83% | Add |
| 16 | PEP | Pepsico INC | 0% | -22.26% | Trim |
| 17 | SPGI | S&p Global INC | 0% | -1.32% | Trim |
| 18 | TTWO | Take-two Interactive Softwre | -0.1% | -1.34% | Trim |
| 19 | NKE | Nike INC -cl B | -0.1% | -8.17% | Trim |
| 20 | META | Meta Platforms Inc-class A | -0.1% | -8.47% | Trim |
| 21 | ADP | Automatic Data Processing | -0.1% | -8.19% | Trim |
| 22 | BKNG | Booking Holdings INC | -0.2% | -7.86% | Trim |
| 23 | CME | Cme Group INC | -0.2% | -27.25% | Trim |
| 24 | A | Agilent Technologies INC | -0.2% | +0.31% | Add |
| 25 | PAYX | Paychex INC | -0.7% | -36.44% | Trim |
| 26 | ADBE | Adobe INC | -0.9% | -0.02% | Trim |
| 27 | MSFT | Microsoft CORP | -1.3% | -3.46% | Trim |
| 28 | GOOGL | Alphabet Inc-cl A | -2.5% | -21.28% | Trim |
| 29 | V | Visa Inc-class A Shares | -4.8% | -31.96% | Trim |
| 30 | VRSN | Verisign INC | — | NEW | New buy |
| 31 | PYPL | Paypal Holdings INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-11 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-09 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-07 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-11-07 | Amendment | View on EDGAR |
| 2025-06-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-11-07 | Amendment | View on EDGAR |
| 2025-03-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-11-07 | Amendment | View on EDGAR |
| 2024-12-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2024-12-31 | 2025-02-12 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2025-11-07 | Amendment | View on EDGAR |
| 2024-09-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2024-09-30 | 2024-11-01 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2025-12-03 | Amendment | View on EDGAR |
| 2024-06-30 | 2025-11-07 | Amendment | View on EDGAR |
| 2024-06-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2024-06-30 | 2024-08-23 | Amendment | View on EDGAR |
| 2024-06-30 | 2024-07-23 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2025-11-07 | Amendment | View on EDGAR |
| 2024-03-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2024-03-31 | 2024-09-10 | Amendment | View on EDGAR |
| 2024-03-31 | 2024-04-29 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2025-11-07 | Amendment | View on EDGAR |
| 2023-12-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2023-12-31 | 2024-09-10 | Amendment | View on EDGAR |
| 2023-12-31 | 2024-02-07 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2024-09-10 | Amendment | View on EDGAR |
| 2023-09-30 | 2023-11-03 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2023-06-30 | 2024-09-10 | Amendment | View on EDGAR |
| 2023-06-30 | 2023-08-01 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2023-03-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2023-03-31 | 2024-09-10 | Amendment | View on EDGAR |
| 2023-03-31 | 2024-09-10 | Amendment | View on EDGAR |
| 2023-03-31 | 2023-04-28 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2022-12-31 | 2024-09-10 | Amendment | View on EDGAR |
| 2022-12-31 | 2024-09-10 | Amendment | View on EDGAR |
| 2022-12-31 | 2023-01-20 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2022-09-30 | 2024-09-10 | Amendment | View on EDGAR |
| 2022-09-30 | 2022-11-07 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2022-06-30 | 2024-09-10 | Amendment | View on EDGAR |
| 2022-06-30 | 2022-08-05 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2022-03-31 | 2024-09-10 | Amendment | View on EDGAR |
| 2022-03-31 | 2022-05-06 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2021-12-31 | 2024-09-10 | Amendment | View on EDGAR |
| 2021-12-31 | 2022-02-01 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2021-09-30 | 2024-09-10 | Amendment | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2021-06-30 | 2024-09-10 | Amendment | View on EDGAR |
| 2021-06-30 | 2021-08-06 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2021-03-31 | 2021-05-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2020-12-31 | 2021-02-10 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2020-06-30 | 2020-08-10 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2020-03-31 | 2020-05-14 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2019-12-31 | 2020-02-11 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2025-09-10 | Amendment | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-25 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2025-09-10 | Amendment | View on EDGAR |
| 2019-03-31 | 2019-04-26 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-22 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-22 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-31 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | Amendment | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-08 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-24 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-15 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-17 | Amendment | View on EDGAR |
| 2017-03-31 | 2017-05-12 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-11 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-09 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-12 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-09-09 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-06-10 | Amendment | View on EDGAR |
| 2015-03-31 | 2015-06-09 | Amendment | View on EDGAR |
| 2015-03-31 | 2015-06-05 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
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