# Stenham Asset Management (UK) Plc

> Institutional holdings reported to the SEC as of Q4 2025 on Form 13F. CIK 2093782. Source: https://holderbook.com/funds/2093782-stenham-asset-management-uk-plc/

- Reported value: $89.8M
- Positions: 15
- Weight of the ten largest: 77.6%
- Filed: 2026-02-17

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 |
|---|---|---|---|---|---|
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $17.7M | 25,200 | 19.7% | 2 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $7.1M | 14,700 | 7.9% | 2 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $6.9M | 29,700 | 7.6% | 2 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $6.5M | 27,917 | 7.2% | 2 |
| HILTON WORLDWIDE HLDGS INC | [HLT](https://holderbook.com/stocks/HLT/) | $5.8M | 20,150 | 6.4% | 2 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $5.8M | 25,150 | 6.4% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $5.2M | 14,800 | 5.8% | 2 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $5.2M | 9,050 | 5.8% | 2 |
| FERRARI N V | [RACE](https://holderbook.com/stocks/RACE/) | $4.9M | 13,350 | 5.5% | 2 |
| AMERICAN FINANCIAL GROUP INC | [AFG](https://holderbook.com/stocks/AFG/) | $4.7M | 34,700 | 5.3% | 2 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $4.5M | 20,200 | 5.0% | 2 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $4.2M | 15,350 | 4.7% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $3.9M | 5,950 | 4.4% | 2 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $3.7M | 7,950 | 4.2% | 2 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $3.7M | 12,100 | 4.2% | 2 |

## 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 |
|---|---|---|---|---|
| Q4 2025 | -1.0% | +2.4% | -3.4% | 91% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2025 | $89.8M | 15 |
| Q3 2025 | $102.9M | 16 |