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Troy Asset Management Ltd SEC 13F Holdings (Q2 2026) — Top Position: VISA INC-CLASS A SHARES
Troy Asset Management LtdCIK: 0001601407
Momentum followerQuality / disciplined sizingDiversified strategy
Total reported value
$3.6B
Reporting period: 2026-06-30 · Number of holdings: 29
Troy Asset Management Ltd disclosed 29 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $3.6B and a quarterly turnover rate of 19.6%.
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Personality snowflake
- Concentration
- 33.3
- Portfolio Stability
- 19.58
- Momentum
- 100
- Sector conviction
- 60.62
- Diversification
- 58
- Sizing Uniformity
- 87.9
Troy Asset Management Ltd's disclosed holdings carry a Herfindahl concentration index of 0.083 — mathematically equivalent to about 12 equally-sized positions, well below its 29 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy MKL
Trim HUBB
-20.9% -$42.6M
Add A
+10.9% $80.5M
Trim ADBE
-9.7% -$30.5M
Trim VRSN
-14.4% -$25.8M
Add V
+0.0% $66.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | V | Visa Inc-class A Shares | Stock-Financials | 15.62% | +0.91% | +0.03% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 12.78% | +0.09% | -13.33% | |
| 3 | A | Agilent Technologies Inc | Stock-Healthcare | 9.92% | +1.71% | +10.92% | |
| 4 | CNI | Canadian Natl Railway Co | Stock-Industrials | 8.99% | +0.50% | -2.46% | |
| 5 | CB | Chubb Limited | Stock-Financials | 8.23% | -0.28% | -0.98% | |
| 6 | MSFT | Microsoft CORP | Stock-Tech | 6.86% | -0.73% | -3.99% | |
| 7 | HUBB | Hubbell Inc | Stock-Industrials | 6.39% | -1.72% | -20.89% | |
| 8 | ALC | Alcon Inc. | Stock-Healthcare | 5.79% | +0.51% | +27.21% | |
| 9 | VRSN | Verisign Inc | Stock-Tech | 4.71% | -1.09% | -14.36% | |
| 10 | MKL | Markel Group Inc | Stock-Financials | 3.35% | +3.35% | NEW | |
| 11 | ADBE | Adobe Inc | Stock-Tech | 2.71% | -1.10% | -9.75% | |
| 12 | MA | Mastercard Inc - A | Stock-Financials | 1.99% | +0.08% | +8.00% | |
| 13 | CME | Cme Group Inc | Stock-Financials | 1.72% | -0.29% | +21.88% | |
| 14 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.34% | +0.11% | +18.33% | |
| 15 | TXN | Texas Instruments Inc | Stock-Tech | 1.28% | +0.32% | -7.36% | |
| 16 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 1.15% | +0.19% | +2934.33% | |
| 17 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.90% | +0.14% | +10.33% | |
| 18 | SYY | Sysco CORP | Stock-Consumer Staples | 0.88% | +0.02% | -7.31% | |
| 19 | PAYX | Paychex Inc | Stock-Tech | 0.69% | -0.32% | -31.42% | |
| 20 | PEP | Pepsico Inc | Stock-Consumer Staples | 0.69% | -0.22% | -7.35% | |
| 21 | PM | Philip Morris International | Stock-Consumer Staples | 0.62% | -0.02% | -5.32% | |
| 22 | NKE | Nike Inc -cl B | Stock-Consumer Disc | 0.53% | -0.26% | -7.26% | |
| 23 | SPGI | S&p Global Inc | Stock-Financials | 0.52% | — | +10.32% | |
| 24 | TTWO | Take-two Interactive Softwre | Stock-Comm Services | 0.50% | +0.12% | +10.33% | |
| 25 | CP | Canadian Pacific Kansas City | Stock-Industrials | 0.44% | +0.44% | NEW | |
| 26 | INTU | Intuit Inc | Stock-Tech | 0.42% | -0.50% | -18.75% | |
| 27 | KVUE | Kenvue Inc | Stock-Consumer Staples | 0.40% | -0.02% | -7.43% | |
| 28 | MCO | Moody's CORP | Stock-Financials | 0.40% | +0.03% | +10.33% | |
| 29 | AZN | AstraZeneca PLC | Stock-Healthcare | 0.21% | +0.21% | NEW |
Portfolio Performance
Performance for Q3 2026
+6.7%
Performance Last 4 Quarters
+14.9%
- Stdev
- +11.8%
- Beta
- +0.76
- Alpha
- +0.8%
- Max Drawdown
- -10%
- Annualized Perf
- +16.4%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +2.67
- Stutzer
- +0.4
- Treynor
- +0.21
- Sterling
- +1.06
- Calmar
- +1.65
- Information Ratio
- -0.56
- Tracking Error
- +7.2%
- Stdev Down
- +6%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +25.5%
- Worst 12 Months
- +7.4%
- Efficiency Ratio
- +0.56
- Sharpe
- +1.36
- Stdev Sectors
- +9.2%
- Skewness
- 0
- Kurtosis
- +0.27
- Upside Potential
- +4.2
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 29 | $3.6B | 20 | ||
| 2026 Q1 | 30 | $3.4B | 29 | ||
| 2025 Q4 | 31 | $3.9B | 15 | ||
| 2025 Q3 | 32 | $3.9B | 29 | ||
| 2025 Q2 | 31 | $3.7B | 0 | ||
| 2025 Q1 | 31 | $3.7B | 100 | ||
| 2024 Q4 | 31 | $3.0B | 0 | ||
| 2024 Q3 | 31 | $3.1B | 0 | ||
| 2024 Q2 | 33 | $3.1B | 100 | ||
| 2024 Q1 | 31 | $3.2B | 0 | ||
| 2023 Q4 | 32 | $3.1B | 0 | ||
| 2023 Q3 | 35 | $3.2B | 0 | ||
| 2023 Q2 | 34 | $3.4B | 0 | ||
| 2023 Q1 | 34 | $3.3B | 0 | ||
| 2022 Q4 | 34 | $3.5B | 0 | ||
| 2022 Q3 | 34 | $3.4B | 0 | ||
| 2022 Q2 | 34 | $4.8B | 0 | ||
| 2022 Q1 | 35 | $5.6B | 0 | ||
| 2021 Q4 | 34 | $5.7B | 0 | ||
| 2021 Q3 | 34 | $5.2B | 0 | ||
| 2021 Q2 | 35 | $5.8B | 0 | ||
| 2021 Q1 | 39 | $5.3B | 0 | ||
| 2020 Q4 | 46 | $4.9B | 0 | ||
| 2020 Q3 | 44 | $4.1B | 0 | ||
| 2020 Q2 | 45 | $3.6B | 0 | ||
| 2020 Q1 | 44 | $3.0B | 0 | ||
| 2019 Q4 | 44 | $2.7B | 0 | ||
| 2019 Q3 | 42 | $2.5B | 0 | ||
| 2019 Q2 | 42 | $2.4B | 100 | ||
| 2019 Q1 | 42 | $2.0B | 0 | ||
| 2018 Q4 | 42 | $2.0B | 13 | ||
| 2018 Q3 | 43 | $2.1B | 11 | ||
| 2018 Q2 | 43 | $1.9B | 31 | ||
| 2018 Q1 | 43 | $2.4B | 0 | ||
| 2017 Q4 | 43 | $2.4B | 12 | ||
| 2017 Q3 | 43 | $2.2B | 100 | ||
| 2017 Q2 | 43 | $2.4B | 100 | 12209S129121613181721 | |
| 2017 Q1 | 40 | $2.0B | 0 | 12209S129121613949181 | |
| 2016 Q4 | 40 | $2.0B | 100 | 12209S129121613949181 | |
| 2016 Q3 | 31 | $1.9B | 20 | ||
| 2016 Q2 | 30 | $1.9B | 16 | ||
| 2016 Q1 | 30 | $1.8B | 41 | ||
| 2015 Q4 | 31 | $1.7B | 9 | ||
| 2015 Q3 | 30 | $1.6B | 38 | ||
| 2015 Q2 | 28 | $1.6B | 8 | ||
| 2015 Q1 | 28 | $10.4B | 0 | ||
| 2014 Q4 | 24 | $1.5B | 0 |
Holding changes this quarter
Troy Asset Management Ltd's most significant position changes for 2026-06-30: New buy: Markel Group Inc (MKL); Sold out: Accenture plc (ACN); Sold out: Mcdonald's CORP (MCD); Sold out: Automatic Data Processing (ADP); New buy: Canadian Pacific Kansas City (CP).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MKL | Markel Group Inc | +3.4% | NEW | New buy |
| 2 | A | Agilent Technologies Inc | +1.7% | +10.92% | Add |
| 3 | V | Visa Inc-class A Shares | +0.9% | +0.03% | Add |
| 4 | ALC | Alcon Inc. | +0.5% | +27.21% | Add |
| 5 | CNI | Canadian Natl Railway Co | +0.5% | -2.46% | Trim |
| 6 | CP | Canadian Pacific Kansas City | +0.4% | NEW | New buy |
| 7 | TXN | Texas Instruments Inc | +0.3% | -7.36% | Trim |
| 8 | AZN | AstraZeneca PLC | +0.2% | NEW | New buy |
| 9 | BKNG | Booking Holdings Inc | +0.2% | +2934.33% | Add |
| 10 | AMZN | Amazon.com Inc | +0.1% | +10.33% | Add |
| 11 | TTWO | Take-two Interactive Softwre | +0.1% | +10.33% | Add |
| 12 | META | Meta Platforms Inc-class A | +0.1% | +18.33% | Add |
| 13 | GOOGL | Alphabet Inc-cl A | +0.1% | -13.33% | Trim |
| 14 | MA | Mastercard Inc - A | +0.1% | +8.00% | Add |
| 15 | MCO | Moody's CORP | 0% | +10.33% | Add |
| 16 | SYY | Sysco CORP | 0% | -7.31% | Trim |
| 17 | SPGI | S&p Global Inc | — | +10.32% | Add |
| 18 | TSM | Taiwan Semiconductor-sp Adr | — | EXIT | Sold out |
| 19 | PM | Philip Morris International | 0% | -5.32% | Trim |
| 20 | KVUE | Kenvue Inc | 0% | -7.43% | Trim |
| 21 | PEP | Pepsico Inc | -0.2% | -7.35% | Trim |
| 22 | NKE | Nike Inc -cl B | -0.3% | -7.26% | Trim |
| 23 | CB | Chubb Limited | -0.3% | -0.98% | Trim |
| 24 | CME | Cme Group Inc | -0.3% | +21.88% | Add |
| 25 | PAYX | Paychex Inc | -0.3% | -31.42% | Trim |
| 26 | INTU | Intuit Inc | -0.5% | -18.75% | Trim |
| 27 | ADP | Automatic Data Processing | -0.7% | EXIT | Sold out |
| 28 | MCD | Mcdonald's CORP | -0.7% | EXIT | Sold out |
| 29 | MSFT | Microsoft CORP | -0.7% | -3.99% | Trim |
| 30 | ACN | Accenture plc | -0.8% | EXIT | Sold out |
| 31 | VRSN | Verisign Inc | -1.1% | -14.36% | Trim |
| 32 | ADBE | Adobe Inc | -1.1% | -9.75% | Trim |
| 33 | HUBB | Hubbell Inc | -1.7% | -20.89% | Trim |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Filing History
FAQ
What is Troy Asset Management Ltd and what type of investor is it?
Troy Asset Management Ltd is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $3.6B, spread across 29 disclosed positions.
What are Troy Asset Management Ltd's largest equity positions?
Based on the latest 13F filing, Troy Asset Management Ltd's top holdings by market value are:
1. Visa Inc-class A Shares (V) — $560.1M (15.6%)
2. Alphabet Inc-cl A (GOOGL) — $458.3M (12.8%)
3. Agilent Technologies Inc (A) — $355.5M (9.9%)
4. Canadian Natl Railway Co (CNI) — $322.3M (9.0%)
5. Chubb Limited (CB) — $295.1M (8.2%)
What changes did Troy Asset Management Ltd make in its most recent portfolio filing?
In the latest reported quarter, Troy Asset Management Ltd made 33 notable position adjustments: 3 new positions were initiated, 11 existing holdings were added to, 15 positions were partially reduced, and 4 were completely exited. The largest of these moves: New buy: Markel Group Inc (MKL); Sold out: Accenture plc (ACN); Sold out: Mcdonald's CORP (MCD); Sold out: Automatic Data Processing (ADP); New buy: Canadian Pacific Kansas City (CP)
What sectors does Troy Asset Management Ltd focus on?
Troy Asset Management Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 31.8%
• Information Technology: 16.7%
• Health Care: 15.9%
• Industrials: 15.8%
• Communication Services: 14.6%
• Consumer Staples: 2.6%
Investment Profile
Troy Asset Management Ltd returned an annualized 16.4% over the trailing 36 months — outperforming the S&P 500 by 0.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.76 (less volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 31.8% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 20 over the past 4 quarters — a shift toward more active trading.
It has added to its CB position over the past two quarters (+$47.8M, now $295.1M), while trimming MSFT over the same stretch (-$98.1M, still holding $246.1M).
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Developer Access
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