CIK: 0001536355
Total reported value
$3.0B
Reporting period: 2014-06-30 · Number of holdings: 93
Ignis Investment Services Ltd disclosed 93 holdings in its latest 13F filing for the period ending 2014-06-30, with total reported value of $3.0B and a quarterly turnover rate of 47.8%.
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Ignis Investment Services Ltd's disclosed holdings carry a Herfindahl concentration index of 0.014 — mathematically equivalent to about 69 equally-sized positions, close to its 93 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.59), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 48% 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.
Trim GOOG
0.0% -$376.6M
Trim MRK
-36.3% -$288.3M
Add CSCO
+140.6% $302.3M
Add G0083B108
+54.8% $276.2M
Trim DAL
-90.2% -$246.3M
Trim UNH
-46.2% -$225.7M
Ignis is harvesting gains from a cluster of high-quality defensive names (PFE, LLY, DHR, V) and redeploying the proceeds into cyclical reflation trades (AXP, SLB) plus a European bond proxy — a tactical portfolio slimming toward a more pro-cyclical stance, not a fundamental conviction rebuild.
The rotation out of pharma, healthcare conglomerates, and payments into financials and energy services prices a regime shift from late-cycle defensive accumulation to an early-cycle reflation narrative, betting that the taper environment will lift cyclical earnings and steepen the curve. The opposing thesis: if the U.S. recovery stumbles, these cyclical bets will be a drain precisely when the sold-off defensives would have been protective.
Ignis's extreme diversification (93 holdings, HHI 0.014) masks a hidden sector concentration: IT and Financials together exceed 50% of assets. If the consensus value rotation — which this portfolio already mirrors — becomes overcrowded and reverses, the fund will face simultaneous factor compression and a sector downdraft, leaving its scattered bottom-up discipline unable to hedge a systemic shift.
Generated by AI based on public SEC filings. Reflects past holdings only and should not be treated as investment advice.
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | JPM | Jpmorgan Chase & Co | Stock-Financials | 3.15% | +0.20% | +16.12% | |
| 2 | AAPL | Apple INC | Stock-Tech | 3.03% | +0.51% | +630.44% | |
| 3 | DIS | Walt Disney Co/the | Stock-Comm Services | 2.58% | +0.75% | +36.35% | |
| 4 | UNP | Union Pacific CORP | Stock-Industrials | 2.35% | -0.51% | +58.10% | |
| 5 | ✓ | Stock-Other | 2.25% | +0.87% | +54.83% | ||
| 6 | XOM | Exxon Mobil CORP | Stock-Energy | 2.22% | — | — | |
| 7 | AIG | American International Group | Stock-Financials | 2.20% | — | — | |
| 8 | VZ | Verizon Communications INC | Stock-Comm Services | 2.16% | — | -2.89% | |
| 9 | WFC | Wells Fargo & Co | Stock-Financials | 2.06% | — | +0.97% | |
| 10 | HD | Home Depot INC | Stock-Consumer Disc | 1.94% | +0.39% | +26.63% | |
| 11 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.83% | -1.07% | -36.34% | |
| 12 | AXP | American Express Co | Stock-Financials | 1.82% | +1.82% | NEW | |
| 13 | CSCO | Cisco Systems INC | Stock-Tech | 1.62% | +0.99% | +140.58% | |
| 14 | APC3EUR | Anadarko Petroleum CORP | Stock-Other | 1.59% | +1.59% | NEW | |
| 15 | ADBE | Adobe INC | Stock-Tech | 1.58% | +0.64% | +57.41% | |
| 16 | MSFT | Microsoft CORP | Stock-Tech | 1.54% | — | -17.46% | |
| 17 | INTC | Intel CORP | Stock-Tech | 1.48% | — | -0.03% | |
| 18 | HAL | Halliburton Co | Stock-Energy | 1.47% | +0.43% | +23.86% | |
| 19 | BKNG | Booking Hldgs INC | Stock-Consumer Disc | 1.46% | — | — | |
| 20 | SLB | Slb LTD | Stock-Energy | 1.45% | +1.45% | NEW | |
| 21 | PRU | Prudential Financial INC | Stock-Financials | 1.45% | — | — | |
| 22 | REYN | Reynolds Consumer Products Inc. | Stock-Other | 1.42% | +0.55% | +48.46% | |
| 23 | WMB | Williams Cos INC | Stock-Energy | 1.42% | — | -26.08% | |
| 24 | GILD | Gilead Sciences INC | Stock-Healthcare | 1.41% | — | -0.50% | |
| 25 | EVEUR | Eaton Vance CORP | Stock-Other | 1.40% | +0.26% | +22.06% | |
| 26 | HCA | Hca Healthcare INC | Stock-Healthcare | 1.38% | +0.34% | +27.63% | |
| 27 | GOOG | Alphabet A | Stock-Comm Services | 1.38% | -1.37% | — | |
| 28 | ✓ | Google INC Class C | Stock-Other | 1.36% | +1.36% | NEW | |
| 29 | CVS | Cvs Health CORP | Stock-Healthcare | 1.35% | — | — | |
| 30 | ZBH | Zimmer Biomet Holdings INC | Stock-Healthcare | 1.34% | +0.75% | +111.04% | |
| 31 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 1.22% | — | +36.66% | |
| 32 | DOW | Dow Chem Co | Stock-Materials | 1.21% | — | — | |
| 33 | MU | Micron Technology INC | Stock-Tech | 1.20% | +0.33% | — | |
| 34 | GRMN | Garmin Ltd. | Stock-Tech | 1.20% | — | — | |
| 35 | AME | Ametek INC | Stock-Industrials | 1.16% | — | — | |
| 36 | ✓ | Stock-Other | 1.13% | — | -17.75% | ||
| 37 | EL | Estee Lauder Companies-cl A | Stock-Consumer Staples | 1.12% | +0.37% | +38.20% | |
| 38 | RF | Regions Financial CORP | Stock-Financials | 1.12% | — | — | |
| 39 | LYB | LyondellBasell Industries N.V. | Stock-Materials | 1.12% | — | — | |
| 40 | BFH | Bread Financial Holdings INC | Stock-Financials | 1.10% | — | — | |
| 41 | BXUSD | Blackstone Group Lp/the | Stock-Other | 1.09% | +1.09% | NEW | |
| 42 | ✓ | St Jude Med INC | Stock-Other | 1.05% | — | — | |
| 43 | NXPI | NXP Semiconductors N.V. | Stock-Tech | 1.02% | — | — | |
| 44 | PCAR | Paccar INC | Stock-Industrials | 1.02% | — | — | |
| 45 | NRG | Nrg Energy INC | Stock-Utilities | 0.98% | +0.98% | NEW | |
| 46 | STZ | Constellation Brands Inc-a | Stock-Consumer Staples | 0.98% | — | — | |
| 47 | ✓ | Stock-Other | 0.96% | +0.96% | NEW | ||
| 48 | COF | Capital One Financial CORP | Stock-Financials | 0.95% | +0.95% | NEW | |
| 49 | CXOEUR | Concho Resources INC | Stock-Other | 0.95% | +0.95% | NEW | |
| 50 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.95% | +0.95% | NEW |
Not enough priced holdings yet to compute performance
Ignis Investment Services Ltd's most significant position changes for 2014-06-30: Sold out: Pfizer INC (PFE); New buy: American Express Co (AXP); New buy: Anadarko Petroleum CORP (APC3EUR); New buy: Slb LTD (SLB); New buy: Google INC Class C.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CSCO | Cisco Systems INC | +1% | +140.58% | Add |
| 2 | ✓ | +0.9% | +54.83% | Add | |
| 3 | DIS | Walt Disney Co/the | +0.8% | +36.35% | Add |
| 4 | ZBH | Zimmer Biomet Holdings INC | +0.8% | +111.04% | Add |
| 5 | ADBE | Adobe INC | +0.6% | +57.41% | Add |
| 6 | REYN | Reynolds Consumer Products Inc. | +0.6% | +48.46% | Add |
| 7 | AAPL | Apple INC | +0.5% | +630.44% | Add |
| 8 | HAL | Halliburton Co | +0.4% | +23.86% | Add |
| 9 | HD | Home Depot INC | +0.4% | +26.63% | Add |
| 10 | EL | Estee Lauder Companies-cl A | +0.4% | +38.20% | Add |
| 11 | HCA | Hca Healthcare INC | +0.3% | +27.63% | Add |
| 12 | MU | Micron Technology INC | +0.3% | — | Unchanged |
| 13 | EVEUR | Eaton Vance CORP | +0.3% | +22.06% | Add |
| 14 | JPM | Jpmorgan Chase & Co | +0.2% | +16.12% | Add |
| 15 | UNP | Union Pacific CORP | -0.5% | +58.10% | Add |
| 16 | MCK | Mckesson CORP | -0.5% | -39.11% | Trim |
| 17 | MA | Mastercard INC - A | -0.6% | -45.71% | Trim |
| 18 | PG | Procter & Gamble Co/the | -0.7% | -59.35% | Trim |
| 19 | UNH | Unitedhealth Group INC | -0.8% | -46.23% | Trim |
| 20 | DAL | Delta Air Lines INC | -0.9% | -90.22% | Trim |
| 21 | MRK | Merck & Co. INC. | -1.1% | -36.34% | Trim |
| 22 | GOOG | Alphabet A | -1.4% | — | Unchanged |
| 23 | PFE | Pfizer INC | — | EXIT | Sold out |
| 24 | AXP | American Express Co | — | NEW | New buy |
| 25 | APC3EUR | Anadarko Petroleum CORP | — | NEW | New buy |
| 26 | SLB | Slb LTD | — | NEW | New buy |
| 27 | ✓ | Google INC Class C | — | NEW | New buy |
| 28 | DHR | Danaher CORP | — | EXIT | Sold out |
| 29 | LLY | Eli Lilly & Co | — | EXIT | Sold out |
| 30 | V | Visa Inc-class A Shares | — | EXIT | Sold out |
| 31 | OXY | Occidental Petroleum CORP | — | EXIT | Sold out |
| 32 | BXUSD | Blackstone Group Lp/the | — | NEW | New buy |
| 33 | NRG | Nrg Energy INC | — | NEW | New buy |
| 34 | ICE | Intercontinental Exchange In | — | EXIT | Sold out |
| 35 | ✓ | — | NEW | New buy | |
| 36 | COF | Capital One Financial CORP | — | NEW | New buy |
| 37 | CXOEUR | Concho Resources INC | — | NEW | New buy |
| 38 | SBUX | Starbucks CORP | — | NEW | New buy |
| 39 | AMP | Ameriprise Financial INC | — | EXIT | Sold out |
| 40 | MPC | Marathon Petroleum CORP | — | EXIT | Sold out |
| 41 | TSEM | Tower Semiconductor Ltd. | — | EXIT | Sold out |
| 42 | ACN | Accenture plc | — | EXIT | Sold out |
| 43 | JAHEUR | Jarden CORP | — | EXIT | Sold out |
| 44 | INCY | Incyte CORP | — | NEW | New buy |
| 45 | TEX | Terex CORP | — | EXIT | Sold out |
| 46 | ✓ | Lorillard INC | — | EXIT | Sold out |
| 47 | F | Ford Motor Co | — | NEW | New buy |
| 48 | MLM | Martin Marietta Materials | — | NEW | New buy |
| 49 | CTRA | Coterra Energy INC | — | EXIT | Sold out |
| 50 | T | At&t INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2014-06-30 | 2014-08-15 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-08-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-08-15 | 13F-HR | View on EDGAR |
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