# Troy Asset Management Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1601407. Source: https://holderbook.com/funds/1601407-troy-asset-management-ltd/

- Reported value: $3.6B
- Positions: 29
- Weight of the ten largest: 82.6%
- Filed: 2026-07-31

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| VISA INC | [V](https://holderbook.com/stocks/V/) | $560.1M | 1,632,408 | 15.6% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $458.3M | 1,282,411 | 12.8% | 31 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $355.5M | 2,676,647 | 9.9% | 27 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $322.3M | 2,564,246 | 9.0% | 11 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $295.1M | 866,176 | 8.2% | 9 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $246.1M | 659,861 | 6.9% | 31 |
| HUBBELL INC | [HUBB](https://holderbook.com/stocks/HUBB/) | $229.3M | 438,244 | 6.4% | 6 |
| ALCON AG | [ALC](https://holderbook.com/stocks/ALC/) | $207.6M | 3,801,548 | 5.8% | 4 |
| VERISIGN INC | [VRSN](https://holderbook.com/stocks/VRSN/) | $168.8M | 670,837 | 4.7% | 2 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $120.1M | 61,509 | 3.4% | 1 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $97.1M | 473,694 | 2.7% | 18 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $71.2M | 138,720 | 2.0% | 27 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $61.5M | 278,677 | 1.7% | 25 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $47.9M | 85,011 | 1.3% | 31 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $45.8M | 153,815 | 1.3% | 15 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $41.2M | 231,246 | 1.1% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $32.1M | 134,889 | 0.9% | 3 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $31.5M | 376,447 | 0.9% | 6 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $24.7M | 250,985 | 0.7% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $24.7M | 182,153 | 0.7% | 31 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $22.4M | 123,550 | 0.6% | 31 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $19.0M | 462,264 | 0.5% | 6 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $18.5M | 45,404 | 0.5% | 25 |
| TAKE-TWO INTERACTIVE SOFTWAR | [TTWO](https://holderbook.com/stocks/TTWO/) | $17.9M | 71,786 | 0.5% | 21 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $15.9M | 183,413 | 0.4% | 1 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $15.2M | 58,195 | 0.4% | 31 |
| KENVUE INC | [KVUE](https://holderbook.com/stocks/KVUE/) | $14.3M | 749,323 | 0.4% | 12 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $14.3M | 31,468 | 0.4% | 22 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $7.4M | 52,367 | 0.2% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +7.0% | +14.8% | -7.8% | 101% |
| Q1 2026 | -9.8% | -4.6% | -5.1% | 103% |
| Q4 2025 | +5.3% | +2.4% | +3.0% | 103% |
| Q3 2025 | +4.0% | +7.8% | -3.8% | 100% |
| Q2 2025 | +8.5% | +10.5% | -1.9% | 92% |
| Q1 2025 | +0.5% | -4.6% | +5.0% | 100% |
| Q4 2024 | +3.5% | +2.1% | +1.4% | 100% |
| Q3 2024 | +6.3% | +5.4% | +0.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $3.6B | 29 |
| Q1 2026 | $3.4B | 30 |
| Q4 2025 | $3.9B | 30 |
| Q3 2025 | $3.9B | 31 |
| Q2 2025 | $3.7B | 31 |
| Q1 2025 | $3.7B | 31 |
| Q4 2024 | $3.0B | 33 |
| Q3 2024 | $3.2B | 33 |
| Q2 2024 | $3.1B | 33 |
| Q1 2024 | $3.3B | 33 |
| Q4 2023 | $3.2B | 34 |
| Q3 2023 | $3.2B | 35 |