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Windmill Hill Asset Management Ltd 13F Portfolio Snapshot & Holdings (Q2 2026)
Windmill Hill Asset Management LtdCIK: 0001831132
Concentrated strategyMomentum followerSector-focused
Total reported value
$448.1M
Reporting period: 2026-06-30 · Number of holdings: 21
Windmill Hill Asset Management Ltd disclosed 21 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $448.1M and a quarterly turnover rate of 36.5%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 36.45
- Momentum
- 100
- Sector conviction
- 91.14
- Diversification
- 42
- Sizing Uniformity
- 66.15
Windmill Hill Asset Management Ltd's disclosed holdings carry a Herfindahl concentration index of 0.567 — mathematically equivalent to about 2 equally-sized positions, well below its 21 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 3.38), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 33.2 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 9% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SPYX
+34.6% $117.7M
Trim EEMX
0.0% $11.0M
Trim EFAX
0.0% $992.7K
Trim GOOGL
-29.0% -$678.7K
Trim SPGI
0.0% -$408.2K
Trim URA
0.0% -$398.1K
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 | SPYX | Ss Spdr S&p 500 Foss Fl ETF | ETF-Large Cap & Growth | 73.99% | +7.31% | +34.57% | |
| 2 | EEMX | State Street Spdr Msci Emerg | ETF-Other | 13.32% | -1.87% | — | |
| 3 | EFAX | State Street Spdr Msci Eafe | ETF-Other | 2.75% | -0.79% | — | |
| 4 | GE | General Electric | Stock-Industrials | 2.38% | -0.43% | -10.17% | |
| 5 | V | Visa Inc-class A Shares | Stock-Financials | 1.54% | -0.35% | — | |
| 6 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.13% | -0.66% | -29.03% | |
| 7 | MCO | Moody's CORP | Stock-Financials | 1.10% | -0.38% | — | |
| 8 | SPGI | S&p Global Inc | Stock-Financials | 0.87% | -0.48% | — | |
| 9 | URA | Global X Uranium ETF | ETF-Other | 0.82% | -0.45% | — | |
| 10 | CP | Canadian Pacific Kansas City | Stock-Industrials | 0.55% | -0.15% | — | |
| 11 | BKSY | Blacksky Technology Inc | Stock-Other | 0.22% | +0.22% | NEW | |
| 12 | CCJ | Cameco CORP | Stock-Energy | 0.20% | -0.12% | -7.93% | |
| 13 | FCX | Freeport-mcmoran Inc | Stock-Materials | 0.19% | -0.09% | -9.52% | |
| 14 | VALE | Vale Sa-sp Adr | Stock-Materials | 0.19% | -0.11% | -8.87% | |
| 15 | XOM | Exxon Mobil CORP | Stock-Energy | 0.15% | -0.13% | -9.02% | |
| 16 | SLB | Slb LTD | Stock-Energy | 0.13% | -0.10% | -9.02% | |
| 17 | COP | Conocophillips | Stock-Energy | 0.13% | -0.12% | -9.28% | |
| 18 | FIG | Figma Inc-cl A | Stock-Other | 0.12% | +0.03% | +118.71% | |
| 19 | MOS | Mosaic Co/the | Stock-Materials | 0.11% | -0.07% | — | |
| 20 | FIGR | Figure Technology Solut-cl A | Stock-Other | 0.06% | -0.07% | -33.33% | |
| 21 | LND | Brasilagro-cia Bra - Spn Adr | Stock-Other | 0.06% | -0.13% | -50.00% |
💡
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.
Portfolio Performance
Performance for Q3 2026
+1.6%
Performance Last 4 Quarters
+19.9%
- Stdev
- +13.7%
- Beta
- +1.03
- Alpha
- +2.1%
- Max Drawdown
- -9.1%
- Annualized Perf
- +24.1%
- Batting Avg vs S&P
- +58.3%
- Sortino
- +3.61
- Stutzer
- +0.48
- Treynor
- +0.22
- Sterling
- +1.48
- Calmar
- +2.63
- Information Ratio
- +0.77
- Tracking Error
- +3.5%
- Stdev Down
- +6.3%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +39.3%
- Worst 12 Months
- +12%
- Efficiency Ratio
- +0.71
- Sharpe
- +1.65
- Stdev Sectors
- +14.4%
- Skewness
- -0.02
- Kurtosis
- -0.32
- Upside Potential
- +5.22
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 21 | $448.1M | 36 | ||
| 2026 Q1 | 23 | $320.7M | 53 | ||
| 2025 Q4 | 26 | $426.9M | 14 | ||
| 2025 Q3 | 24 | $381.4M | 22 | ||
| 2025 Q2 | 26 | $363.1M | 0 | ||
| 2025 Q1 | 26 | $323.1M | 100 | ||
| 2024 Q4 | 27 | $305.6M | 0 | ||
| 2024 Q3 | 24 | $187.2M | 0 | ||
| 2024 Q2 | 27 | $238.3M | 0 | ||
| 2024 Q1 | 27 | $279.3M | 0 | ||
| 2023 Q4 | 38 | $171.6M | 0 | ||
| 2023 Q3 | 31 | $230.7M | 0 | ||
| 2023 Q2 | 30 | $223.1M | 0 | ||
| 2023 Q1 | 29 | $144.4M | 0 | ||
| 2022 Q4 | 31 | $155.5M | 0 | ||
| 2022 Q3 | 23 | $171.4M | 0 | ||
| 2022 Q2 | 18 | $193.7M | 0 | ||
| 2022 Q1 | 20 | $198.3M | 0 | ||
| 2021 Q4 | 10 | $138.9M | 0 | ||
| 2021 Q2 | 12 | $188.1M | 100 | ||
| 2021 Q1 | 10 | $186.6M | 80 | ||
| 2020 Q4 | 21 | $339.9M | 100 | ||
| 2020 Q3 | 21 | $272.9M | — |
Holding changes this quarter
Windmill Hill Asset Management Ltd's most significant position changes for 2026-06-30: Sold out: Rocket Lab CORP (RKLB); Sold out: Microsoft CORP (MSFT); New buy: Blacksky Technology Inc (BKSY); Sold out: Victory Capital Holding - A (VCTR); Add: Ss Spdr S&p 500 Foss Fl ETF (SPYX) — shares +34.57%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPYX | Ss Spdr S&p 500 Foss Fl ETF | +7.3% | +34.57% | Add |
| 2 | BKSY | Blacksky Technology Inc | +0.2% | NEW | New buy |
| 3 | FIG | Figma Inc-cl A | 0% | +118.71% | Add |
| 4 | FIGR | Figure Technology Solut-cl A | -0.1% | -33.33% | Trim |
| 5 | MOS | Mosaic Co/the | -0.1% | — | Unchanged |
| 6 | FCX | Freeport-mcmoran Inc | -0.1% | -9.52% | Trim |
| 7 | SLB | Slb LTD | -0.1% | -9.02% | Trim |
| 8 | VALE | Vale Sa-sp Adr | -0.1% | -8.87% | Trim |
| 9 | COP | Conocophillips | -0.1% | -9.28% | Trim |
| 10 | CCJ | Cameco CORP | -0.1% | -7.93% | Trim |
| 11 | LND | Brasilagro-cia Bra - Spn Adr | -0.1% | -50.00% | Trim |
| 12 | XOM | Exxon Mobil CORP | -0.1% | -9.02% | Trim |
| 13 | CP | Canadian Pacific Kansas City | -0.2% | — | Unchanged |
| 14 | VCTR | Victory Capital Holding - A | -0.3% | EXIT | Sold out |
| 15 | MSFT | Microsoft CORP | -0.3% | EXIT | Sold out |
| 16 | V | Visa Inc-class A Shares | -0.4% | — | Unchanged |
| 17 | MCO | Moody's CORP | -0.4% | — | Unchanged |
| 18 | GE | General Electric | -0.4% | -10.17% | Trim |
| 19 | RKLB | Rocket Lab CORP | -0.4% | EXIT | Sold out |
| 20 | URA | Global X Uranium ETF | -0.5% | — | Unchanged |
| 21 | SPGI | S&p Global Inc | -0.5% | — | Unchanged |
| 22 | GOOGL | Alphabet Inc-cl A | -0.7% | -29.03% | Trim |
| 23 | EFAX | State Street Spdr Msci Eafe | -0.8% | — | Unchanged |
| 24 | EEMX | State Street Spdr Msci Emerg | -1.9% | — | Unchanged |
Filing History
FAQ
What is Windmill Hill Asset Management Ltd and what type of investor is it?
Windmill Hill 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 $448.1M, spread across 21 disclosed positions.
What are Windmill Hill Asset Management Ltd's largest equity positions?
Based on the latest 13F filing, Windmill Hill Asset Management Ltd's top holdings by market value are:
1. Ss Spdr S&p 500 Foss Fl ETF (SPYX) — $331.5M (74.0%)
2. State Street Spdr Msci Emerg (EEMX) — $59.7M (13.3%)
3. State Street Spdr Msci Eafe (EFAX) — $12.3M (2.8%)
4. General Electric (GE) — $10.7M (2.4%)
5. Visa Inc-class A Shares (V) — $6.9M (1.5%)
What changes did Windmill Hill Asset Management Ltd make in its most recent portfolio filing?
In the latest reported quarter, Windmill Hill Asset Management Ltd made 16 notable position adjustments: 1 new positions were initiated, 2 existing holdings were added to, 10 positions were partially reduced, and 3 were completely exited. The largest of these moves: Sold out: Rocket Lab CORP (RKLB); Sold out: Microsoft CORP (MSFT); New buy: Blacksky Technology Inc (BKSY); Sold out: Victory Capital Holding - A (VCTR); Add: Ss Spdr S&p 500 Foss Fl ETF (SPYX) — shares +34.57%
What sectors does Windmill Hill Asset Management Ltd focus on?
Windmill Hill Asset Management Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 40.5%
• Industrials: 33.8%
• Communication Services: 13.1%
• Energy: 6.9%
• Materials: 5.6%
Investment Profile
Windmill Hill Asset Management Ltd returned an annualized 24.1% over the trailing 36 months — outperforming the S&P 500 by 2.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.03 (roughly in line with the market) and a 58% quarterly batting average against the index.
Its portfolio is concentrated and moderately active, with 40.5% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 36 over the past 4 quarters — a shift toward more active trading.
It has added to its EEMX position for two straight quarters, increasing it by $54.8M to reach $59.7M.
Peer Institutions
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Sector conviction58.5
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OD
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HF
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Developer Access
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