# Windmill Hill Asset Management Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1831132. Source: https://holderbook.com/funds/1831132-windmill-hill-asset-management-ltd/

- Reported value: $448.1M
- Positions: 21
- Weight of the ten largest: 98.5%
- Filed: 2026-08-10

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 |
|---|---|---|---|---|---|
| SPDR SERIES TRUST | [SPYX](https://holderbook.com/stocks/SPYX/) | $331.5M | 5,426,150 | 74.0% | 22 |
| SPDR INDEX SHS FDS | [EEMX](https://holderbook.com/stocks/EEMX/) | $59.7M | 1,102,420 | 13.3% | 3 |
| SPDR INDEX SHS FDS | [EFAX](https://holderbook.com/stocks/EFAX/) | $12.3M | 227,939 | 2.8% | 3 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $10.7M | 28,503 | 2.4% | 13 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $6.9M | 20,075 | 1.5% | 15 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $5.1M | 14,194 | 1.1% | 23 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $4.9M | 10,912 | 1.1% | 15 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $3.9M | 10,172 | 0.9% | 15 |
| GLOBAL X FDS | [URA](https://holderbook.com/stocks/URA/) | $3.7M | 84,163 | 0.8% | 18 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $2.5M | 28,609 | 0.6% | 13 |
| BLACKSKY TECHNOLOGY INC | [BKSY](https://holderbook.com/stocks/BKSY/) | $975.9K | 34,954 | 0.2% | 1 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $874.8K | 8,588 | 0.2% | 17 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $854.7K | 13,590 | 0.2% | 17 |
| VALE S A | [VALE](https://holderbook.com/stocks/VALE/) | $840.8K | 55,905 | 0.2% | 17 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $657.8K | 4,811 | 0.1% | 17 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $601.8K | 12,945 | 0.1% | 17 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $562.8K | 5,414 | 0.1% | 17 |
| FIGMA INC | [FIG](https://holderbook.com/stocks/FIG/) | $525.2K | 29,031 | 0.1% | 3 |
| MOSAIC CO | [MOS](https://holderbook.com/stocks/MOS/) | $491.8K | 23,208 | 0.1% | 17 |
| FIGURE TECHNOLOGY SOLUTIO | [FIGR](https://holderbook.com/stocks/FIGR/) | $255.9K | 8,334 | 0.1% | 2 |
| BRASILAGRO COMPANHIA BRASILE | [LND](https://holderbook.com/stocks/LND/) | $253.1K | 70,898 | 0.1% | 11 |

## 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 | +15.5% | +14.8% | +0.7% | 100% |
| Q1 2026 | -5.6% | -4.6% | -1.0% | 100% |
| Q4 2025 | +2.7% | +2.4% | +0.3% | 100% |
| Q3 2025 | +10.3% | +7.8% | +2.5% | 100% |
| Q2 2025 | +14.4% | +10.5% | +3.9% | 100% |
| Q1 2025 | -5.3% | -4.6% | -0.7% | 100% |
| Q4 2024 | +2.0% | +2.1% | -0.2% | 100% |
| Q3 2024 | +6.6% | +5.4% | +1.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $448.1M | 21 |
| Q1 2026 | $320.7M | 23 |
| Q4 2025 | $426.9M | 26 |
| Q3 2025 | $381.4M | 24 |
| Q2 2025 | $363.1M | 26 |
| Q1 2025 | $323.1M | 26 |
| Q4 2024 | $305.6M | 27 |
| Q3 2024 | $187.2M | 24 |
| Q2 2024 | $238.3M | 27 |
| Q1 2024 | $279.3M | 27 |
| Q4 2023 | $171.6M | 38 |
| Q3 2023 | $230.7M | 31 |