Guinness Asset Management LTD

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 5, 2025), Guinness Asset Management LTD reported 127 stock positions worth $6.3 billion. Its top holding was Broadcom (AVGO) at 5.3% of the portfolio, followed by Microsoft (MSFT, 4.5%) and Cme (CME, 4.4%). Compared with Q2 2025, it opened 26 new positions, sold out of 2, added to 37 and reduced 64. The biggest buy was a new position in Medtronic (MDT) and the biggest sale Cisco Systems (CSCO, shares −19%).

Most Recent 13F
Q2 2026
Location
LONDON, X0
CIK
0001409661
Portfolio Value
$6.3B (Q3 2025)
SEC Filing
0001409661-25-000004 ↗ filed Nov 5, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $4.8B Q1 2024 Q2 2024: $4.8B Q2 2024 Q3 2024: $5.3B Q3 2024 Q4 2024: $5.3B Q4 2024 Q1 2025: $5.3B Q1 2025 Q2 2025: $5.6B Q2 2025 Q3 2025: $6.3B $6.3B Q3 2025 Q4 2025: $6.2B Q4 2025 Q1 2026: $5.8B Q1 2026 Q2 2026: $5.9B Q2 2026

Holdings 127 stocks · $6.3B
AVGO Broadcom Inc. 5.30% 1,014,942 $332.8M Reduce -9.7%
MSFT Microsoft Corp. 4.50% 549,494 $282.8M Reduce -0.4%
CME Cme Group Inc. 4.43% 1,022,511 $278.4M Reduce -0.1%
MDT Medtronic PLC 4.39% 2,932,387 $275.6M New
ABBV Abbvie Inc. 4.30% 1,210,293 $270.1M Add +0.3%
AFL Aflac Inc. 4.21% 2,372,963 $264.2M Add +0.0%
BLK BlackRock Inc. 4.07% 217,250 $255.4M Reduce -16.7%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 4.05% 831,125 $254.1M Reduce 0.0%
JNJ Johnson & Johnson 4.00% 1,383,195 $251.2M Add +0.4%
EMR Emerson Electric Co. 3.93% 1,907,825 $246.6M Add +0.3%
ETN Eaton Corp. PLC 3.84% 657,032 $241.2M New
CSCO Cisco Systems Inc. 3.84% 3,558,044 $241.0M Reduce -18.9%
MDLZ Mondelez International Inc. Class A 3.81% 3,813,562 $238.8M Add +25.9%
PG The Procter & Gamble Co. 3.68% 1,505,754 $231.2M Add +22.1%
PEP Pepsico Inc. 3.54% 1,585,557 $222.2M Add +29.7%
ITW Illinois Tool Works 3.49% 838,582 $219.2M Add +0.4%
KO The Coca-Cola Co. 3.36% 3,195,526 $211.0M Add +0.3%
PAYX Paychex Inc. 3.35% 1,635,852 $210.3M Add +0.3%
TXN Texas Instruments Inc. 2.95% 1,011,763 $185.4M Add +0.5%
OTIS Otis Worldwide Corp. 2.78% 1,912,155 $174.6M Reduce -0.7%
TSM Taiwan Semiconductor-SP ADR 1.41% 324,725 $88.7M Reduce -17.0%
APH Amphenol Corp. Class A 1.08% 561,505 $67.9M Reduce -22.5%
NVDA Nvidia Corp. 1.02% 352,256 $64.1M Reduce -3.5%
GOOGL Alphabet Inc. Class A 0.90% 230,790 $56.3M Reduce -4.6%
LRCX Lam Research Corp. 0.88% 422,112 $55.3M Reduce -15.1%
KLAC KLA Corp. 0.87% 51,456 $54.8M Reduce -12.1%
META Meta Platforms Inc. Class A 0.84% 70,608 $52.5M Reduce -4.6%
NFLX Netflix Inc. 0.82% 42,532 $51.3M Reduce -4.6%
MA Mastercard Inc. Class A 0.81% 89,243 $50.7M Reduce -4.6%
ICE Intercontinental Exchange Inc. 0.75% 282,050 $47.4M Add +0.0%
V Visa Inc. Class A 0.75% 138,963 $47.3M Reduce -4.6%
AME Ametek Inc. 0.74% 249,862 $46.7M Reduce -4.6%
AMZN Amazon.com Inc. 0.74% 208,983 $46.4M Reduce -4.6%
INTU Intuit Inc. 0.73% 66,284 $46.0M Reduce -4.6%
AAPL Apple Inc. 0.72% 177,800 $45.2M Add +1.6%
AMAT Applied Materials Inc. 0.70% 214,443 $44.0M Reduce -4.6%
ROP Roper Technologies Inc. 0.66% 83,211 $41.7M Add +13.6%
DHR Danaher Corp. 0.66% 223,570 $41.6M Add +13.7%
TMO Thermo Fisher Scientific Inc. 0.63% 84,957 $39.3M Add +14.8%
CRM Salesforce Inc. 0.59% 151,492 $37.1M Add +16.0%
ADBE Adobe Inc. 0.58% 100,574 $36.1M Add +16.6%
HUBB Hubbell Inc. 0.24% 35,065 $15.0M Reduce -8.4%
NEE Nextera Energy Inc. 0.22% 183,458 $14.0M Reduce -8.4%
TT Trane Technologies PLC 0.22% 33,372 $13.8M New
ORA Ormat Technologies Inc. 0.20% 133,349 $12.7M Reduce -8.4%
APTV Aptiv PLC 0.19% 138,401 $11.9M New
FSLR First Solar Inc. 0.19% 52,388 $11.7M Reduce -8.4%
XOM Exxon Mobil Corp. 0.18% 101,327 $11.6M Reduce -5.2%
CVX Chevron Corp. 0.18% 71,975 $11.2M Reduce -11.3%
ITRI Itron Inc. 0.18% 90,228 $11.2M Reduce -8.4%
VLO Valero Energy Corp. 0.18% 64,806 $11.2M Reduce -5.2%
IBP Installed Building Products 0.17% 42,541 $10.6M Reduce -8.4%
NTES Netease Inc.-ADR 0.17% 69,817 $10.6M Reduce -1.0%
NXPI NXP Semiconductors NV 0.16% 44,578 $10.1M New
COP Conocophillips 0.16% 102,206 $9.8M Add +0.9%
SU Suncor Energy Inc. 0.15% 226,012 $9.5M Reduce -7.9%
IMO Imperial Oil Ltd. 0.15% 98,836 $9.1M Reduce -17.7%
QCOM Qualcomm Inc. 0.14% 54,843 $9.1M Reduce -1.0%
ST Sensata Technologies Holdplc 0.13% 266,560 $8.1M New
CNQ Canadian Natural Resources 0.13% 248,133 $8.0M Reduce -1.8%
ON On Semiconductor 0.12% 151,056 $7.5M Reduce -8.4%
CSL Carlisle Cos Inc. 0.12% 22,150 $7.4M Reduce -8.4%
EOG EOG Resources Inc. 0.12% 64,069 $7.3M Reduce -5.2%
BKR Baker Hughes Co. 0.11% 141,947 $7.2M Reduce -5.2%
OC Owens Corning 0.11% 50,466 $7.1M Reduce -8.4%
FANG Diamondback Energy Inc. 0.11% 48,316 $6.9M Add +3.6%
CVE Cenovus Energy Inc. 0.11% 399,450 $6.9M Reduce -4.9%
ENB Enbridge Inc. 0.11% 136,510 $6.8M Reduce -27.2%
AMRC Ameresco Inc. Class A 0.11% 198,396 $6.8M Reduce -18.1%
KMI Kinder Morgan Inc. 0.11% 236,724 $6.7M Reduce -29.8%
TRP TC Energy Corp. 0.09% 110,322 $5.9M New
DVN Devon Energy Corp. 0.09% 162,842 $5.8M Add +0.5%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.09% 163,798 $5.8M Reduce -5.2%
HAL Halliburton Co. 0.08% 210,546 $5.3M Reduce -5.2%
CSIQ Canadian Solar Inc. 0.07% 359,996 $4.6M Reduce -8.4%
ENPH Enphase Energy Inc. 0.04% 70,599 $2.5M Reduce -8.4%
HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I 0.02% 209,769 $1.4M Reduce -3.5%
STT State Street Corp. 0.01% 8,006 $939K Add +11.0%
NDAQ Nasdaq Inc. 0.01% 10,228 $907K Add +4.7%
BX Blackstone Inc. 0.01% 4,748 $836K Add +1.1%
AMG Affiliated Managers Group 0.01% 3,432 $819K Add +7.4%
RJF Raymond James Financial Inc. 0.01% 4,639 $818K Add +12.7%
ARES Ares Management Corp. Class A 0.01% 4,952 $809K Add +4.7%
CG The Carlyle Group Inc. 0.01% 12,201 $792K Reduce -1.7%
AMP Ameriprise Financial Inc. 0.01% 1,580 $789K Add +3.1%
KKR KKR & Co. Inc. 0.01% 5,640 $758K Add +4.7%
JHG Janus Henderson Group PLC 0.01% 16,704 $749K New
IVZ Invesco Ltd. 0.01% 29,216 $672K New
APAM Artisan Partners Asset Ma -A 0.01% 12,299 $537K Add +12.7%
TER Teradyne Inc. 0.01% 3,612 $485K Reduce -21.4%
BAP Credicorp Ltd. 0.01% 1,756 $470K New
BEN Franklin Templeton Inc. 0.01% 19,982 $467K Add +12.7%
JAZZ Jazz Pharmaceuticals PLC 0.01% 3,300 $426K New
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.01% 4,082 $423K Add +12.6%
ADUS Addus Homecare Corp. 0.01% 3,548 $418K Reduce -1.2%
VRT Vertiv Holdings Co. Class A 0.01% 2,861 $410K Reduce -16.4%
A Agilent Technologies Inc. 0.01% 3,313 $410K Reduce -2.9%
MPWR Monolithic Power Systems Inc. 0.01% 461 $409K Reduce -19.6%
ENTG Entegris Inc. 0.01% 4,303 $402K Reduce -17.4%
WMS Advanced Drainage Systems Inc. 0.01% 2,910 $402K Reduce -16.7%
KEYS Keysight Technologies Inc. 0.01% 2,286 $396K Reduce -7.9%
BIDU Baidu Inc. - Spon ADR 0.01% 2,904 $392K Add +5.1%
MSCI MSCI Inc. 0.01% 677 $385K Reduce -8.1%
EW Edwards Lifesciences Corp. 0.01% 4,978 $384K Reduce -8.2%
CDNS Cadence Design SYS Inc. 0.01% 1,095 $382K Reduce -18.8%
FTV Fortive Corp. 0.01% 7,678 $376K Add +36.8%
CHKP Check Point Software Tech 0.01% 1,824 $375K New
IEX Idex Corp. 0.01% 2,214 $359K Reduce -1.4%
ZBRA Zebra Technologies Corp. Class A 0.01% 1,199 $356K Reduce -12.9%
RVTY Revvity Inc. 0.01% 4,018 $338K Reduce -5.1%
JD Jd.com Inc.-ADR 0.00% 4,910 $175K Add +27.2%
BABA Alibaba Group Holding-SP ADR 0.00% 680 $122K Add +20.8%
DEC Diversified Energy Co. PLC 0.00% 7,512 $106K New
BIP Brookfield Infrastructure Pa 0.00% 2,452 $81K New
VTR Ventas Inc. 0.00% 1,164 $81K New
WEC WEC Energy Group Inc. 0.00% 704 $80K New
LNT Alliant Energy Corp. 0.00% 1,189 $79K New
ATHM Autohome Inc.-ADR 0.00% 2,711 $79K Add +20.9%
UNP Union Pacific Corp. 0.00% 331 $78K New
PLD Prologis Inc. 0.00% 676 $77K New
WTRG Essential Utilities Inc. 0.00% 1,972 $77K New
DUK Duke Energy Corp. 0.00% 625 $77K New
DOC Healthpeak Properties Inc. 0.00% 4,018 $76K New
SBAC SBA Communications Corp. 0.00% 374 $73K New
DLR Digital Realty Trust Inc. 0.00% 421 $72K New
AMT American Tower Corp. 0.00% 368 $72K New
EQIX Equinix Inc. 0.00% 91 $71K New

Portfolio Sells Q2 2025 → Q3 2025
CSCO Cisco Systems Inc. Reduce -18.9% 3.84% −1.61
BLK BlackRock Inc. Reduce -16.7% 4.07% −0.83
AJG Arthur J Gallagher & Co. Reduce 0.0% 4.05% −0.71
OTIS Otis Worldwide Corp. Reduce -0.7% 2.78% −0.63
CME Cme Group Inc. Reduce -0.1% 4.43% −0.61
MSFT Microsoft Corp. Reduce -0.4% 4.50% −0.41
NFLX Netflix Inc. Reduce -4.6% 0.82% −0.25
INTU Intuit Inc. Reduce -4.6% 0.73% −0.25
AVGO Broadcom Inc. Reduce -9.7% 5.30% −0.24
APH Amphenol Corp. Class A Reduce -22.5% 1.08% −0.20
TSM Taiwan Semiconductor-SP ADR Reduce -17.0% 1.41% −0.17
V Visa Inc. Class A Reduce -4.6% 0.75% −0.17
META Meta Platforms Inc. Class A Reduce -4.6% 0.84% −0.14
MA Mastercard Inc. Class A Reduce -4.6% 0.81% −0.13
AMZN Amazon.com Inc. Reduce -4.6% 0.74% −0.12
AME Ametek Inc. Reduce -4.6% 0.74% −0.10
KMI Kinder Morgan Inc. Reduce -29.8% 0.11% −0.07
KLAC KLA Corp. Reduce -12.1% 0.87% −0.07
ITRI Itron Inc. Reduce -8.4% 0.18% −0.05
CSL Carlisle Cos Inc. Reduce -8.4% 0.12% −0.04
ENB Enbridge Inc. Reduce -27.2% 0.11% −0.04
HUBB Hubbell Inc. Reduce -8.4% 0.24% −0.04
AMAT Applied Materials Inc. Reduce -4.6% 0.70% −0.04
ON On Semiconductor Reduce -8.4% 0.12% −0.04
EOG EOG Resources Inc. Reduce -5.2% 0.12% −0.03
CVX Chevron Corp. Reduce -11.3% 0.18% −0.03
NEE Nextera Energy Inc. Reduce -8.4% 0.22% −0.03
IMO Imperial Oil Ltd. Reduce -17.7% 0.15% −0.03
XOM Exxon Mobil Corp. Reduce -5.2% 0.18% −0.02
OC Owens Corning Reduce -8.4% 0.11% −0.02
ORA Ormat Technologies Inc. Reduce -8.4% 0.20% −0.02
CNQ Canadian Natural Resources Reduce -1.8% 0.13% −0.01
ENPH Enphase Energy Inc. Reduce -8.4% 0.04% −0.01
QCOM Qualcomm Inc. Reduce -1.0% 0.14% −0.01
SLB SLB Ltd. Reduce -5.2% 0.09% −0.01
SU Suncor Energy Inc. Reduce -7.9% 0.15% −0.01
NVDA Nvidia Corp. Reduce -3.5% 1.02% −0.01
ANET Arista Networks Inc. Sold out 0.00% −0.01
CSIQ Canadian Solar Inc. Reduce -8.4% 0.07% −0.00
HOS Hornbeck Offshore Services I Reduce -3.5% 0.02% −0.00
RVTY Revvity Inc. Reduce -5.1% 0.01% −0.00
ZBRA Zebra Technologies Corp. Class A Reduce -12.9% 0.01% −0.00
EW Edwards Lifesciences Corp. Reduce -8.2% 0.01% −0.00
MSCI MSCI Inc. Reduce -8.1% 0.01% −0.00
RAL Ralliant Corp. Sold out 0.00% −0.00
CDNS Cadence Design SYS Inc. Reduce -18.8% 0.01% −0.00
NTES Netease Inc.-ADR Reduce -1.0% 0.17% −0.00
IEX Idex Corp. Reduce -1.4% 0.01% −0.00
VRT Vertiv Holdings Co. Class A Reduce -16.4% 0.01% −0.00
ENTG Entegris Inc. Reduce -17.4% 0.01% −0.00

Portfolio Buys Q2 2025 → Q3 2025
MDT Medtronic PLC New 4.39% +4.39
ETN Eaton Corp. PLC New 3.84% +3.84
PEP Pepsico Inc. Add +29.7% 3.54% +0.65
ABBV Abbvie Inc. Add +0.3% 4.30% +0.30
JNJ Johnson & Johnson Add +0.4% 4.00% +0.24
TT Trane Technologies PLC New 0.22% +0.22
APTV Aptiv PLC New 0.19% +0.19
PG The Procter & Gamble Co. Add +22.1% 3.68% +0.17
NXPI NXP Semiconductors NV New 0.16% +0.16
MDLZ Mondelez International Inc. Class A Add +25.9% 3.81% +0.15
ST Sensata Technologies Holdplc New 0.13% +0.13
TRP TC Energy Corp. New 0.09% +0.09
TMO Thermo Fisher Scientific Inc. Add +14.8% 0.63% +0.09
AAPL Apple Inc. Add +1.6% 0.72% +0.08
JHG Janus Henderson Group PLC New 0.01% +0.01
IVZ Invesco Ltd. New 0.01% +0.01
BAP Credicorp Ltd. New 0.01% +0.01
JAZZ Jazz Pharmaceuticals PLC New 0.01% +0.01
CHKP Check Point Software Tech New 0.01% +0.01
BIDU Baidu Inc. - Spon ADR Add +5.1% 0.01% +0.00
AMG Affiliated Managers Group Add +7.4% 0.01% +0.00
RJF Raymond James Financial Inc. Add +12.7% 0.01% +0.00
DEC Diversified Energy Co. PLC New 0.00% +0.00
LNT Alliant Energy Corp. New 0.00% +0.00
VTR Ventas Inc. New 0.00% +0.00
WEC WEC Energy Group Inc. New 0.00% +0.00
BIP Brookfield Infrastructure Pa New 0.00% +0.00
DUK Duke Energy Corp. New 0.00% +0.00
WTRG Essential Utilities Inc. New 0.00% +0.00
DOC Healthpeak Properties Inc. New 0.00% +0.00
PLD Prologis Inc. New 0.00% +0.00
SBAC SBA Communications Corp. New 0.00% +0.00
STT State Street Corp. Add +11.0% 0.01% +0.00
UNP Union Pacific Corp. New 0.00% +0.00
AMT American Tower Corp. New 0.00% +0.00
DLR Digital Realty Trust Inc. New 0.00% +0.00
EQIX Equinix Inc. New 0.00% +0.00
BABA Alibaba Group Holding-SP ADR Add +20.8% 0.00% +0.00
BX Blackstone Inc. Add +1.1% 0.01% +0.00
FTV Fortive Corp. Add +36.8% 0.01% +0.00
JD Jd.com Inc.-ADR Add +27.2% 0.00% +0.00
TROW T Rowe Price Group Inc. Add +12.6% 0.01% +0.00
ATHM Autohome Inc.-ADR Add +20.9% 0.00% +0.00
APAM Artisan Partners Asset Ma -A Add +12.7% 0.01% −0.00
BEN Franklin Templeton Inc. Add +12.7% 0.01% −0.00
DVN Devon Energy Corp. Add +0.5% 0.09% −0.00
KKR KKR & Co. Inc. Add +4.7% 0.01% −0.00
NDAQ Nasdaq Inc. Add +4.7% 0.01% −0.00
ARES Ares Management Corp. Class A Add +4.7% 0.01% −0.00
AMP Ameriprise Financial Inc. Add +3.1% 0.01% −0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 140$5.9BTXN, CSCO, AVGO, JNJ, ABBV
Q1 2026 143$5.8BJNJ, AVGO, ABBV, AFL, CME
Q4 2025 146$6.2BAVGO, JNJ, CME, MDT, ABBV
Q3 2025 127$6.3BAVGO, MSFT, CME, MDT, ABBV
Q2 2025 103$5.6BAVGO, CSCO, CME, MSFT, BLK
Q1 2025Amended 103$5.3BAJG, CME, CSCO, AFL, ABBV
Q4 2024 106$5.3BBLK, AVGO, CSCO, AFL, CME
Q3 2024 106$5.3BAFL, BLK, AVGO, ABBV, MSFT
Q2 2024 105$4.8BMSFT, AVGO, AJG, AFL, EMR
Q1 2024 109$4.8BMSFT, ABBV, AVGO, EMR, AJG