JTC Employer Solutions Trustee Ltd

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), JTC Employer Solutions Trustee Ltd reported 309 stock positions worth $1.0 billion. Its top holding was GSK PLC-Spon ADR (GSK) at 54.9% of the portfolio, followed by JPMorgan Chase (JPM, 6.8%) and Union Pacific (UNP, 4.6%). Compared with Q1 2025, it opened 6 new positions, sold out of 14, added to 12 and reduced 46. The biggest buy was iShares Bitcoin Trust ETF (IBIT, shares +774%) and the biggest sale Alphabet Class A (GOOGL, shares −84%).

Most Recent 13F
Q2 2026
Location
ST HELIER, Y9
CIK
0001875645
Portfolio Value
$1.0B (Q2 2025)
SEC Filing
0001875645-25-000005 ↗ filed Jul 29, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.6B Q1 2024 Q2 2024: $1.5B Q2 2024 Q3 2024: $1.5B Q3 2024 Q4 2024: $1.4B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.0B $1.0B Q2 2025 Q3 2025: $1.2B Q3 2025 Q4 2025: $1.5B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 309 stocks · $1.0B
GSK GSK PLC-Spon ADR 54.90% 14,997,384 $575.7M Reduce -1.7%
JPM JPMorgan Chase & Co. 6.82% 246,878 $71.5M Reduce -19.8%
UNP Union Pacific Corp. 4.56% 207,900 $47.8M No change
IBIT iShares Bitcoin Trust ETF 2.43% 415,961 $25.5M Add +773.6%
AAPL Apple Inc. 1.72% 88,116 $18.1M Add +1.6%
COST Costco Wholesale Corp. 1.46% 15,477 $15.3M Reduce -39.3%
C Citigroup Inc. 1.43% 175,783 $15.0M Reduce -12.4%
AIG American International Group 1.40% 171,000 $14.6M Reduce -22.6%
TSM Taiwan Semiconductor-SP ADR 1.32% 61,101 $13.8M Reduce -12.8%
NVDA Nvidia Corp. 1.28% 85,298 $13.5M Reduce -76.5%
MA Mastercard Inc. Class A 1.21% 22,621 $12.7M Reduce -0.6%
USHY iShares Broad Usd High Yield 1.11% 310,219 $11.6M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.09% 241,805 $11.4M Reduce -29.3%
AMZN Amazon.com Inc. 0.93% 44,317 $9.7M Reduce -79.4%
GSL Global Ship Lease Inc. Class A 0.91% 363,258 $9.6M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.82% 13,992 $8.6M No change
GOOGL Alphabet Inc. Class A 0.75% 44,684 $7.9M Reduce -84.0%
GOOG Alphabet Inc. Class C 0.71% 42,256 $7.5M Reduce -21.7%
QQQ Invesco QQQ Trust Series 1 0.70% 13,219 $7.3M Reduce -14.2%
AXP American Express Co. 0.68% 22,500 $7.2M Reduce -18.2%
BRK.A Berkshire Hathaway Inc. Class A 0.63% 9 $6.6M No change
COF Capital One Financial Corp. 0.59% 29,320 $6.2M Reduce -25.4%
TD Toronto-Dominion Bank 0.50% 71,315 $5.2M No change
SYF Synchrony Financial 0.48% 75,000 $5.0M Reduce -31.8%
CBRE CBRE Group Inc. Class A 0.47% 35,000 $4.9M Reduce -30.0%
VOO Vanguard S&P 500 ETF 0.44% 8,055 $4.6M Reduce -8.8%
IVV iShares Core S&P 500 ETF 0.42% 7,026 $4.4M No change
PLAB Photronics Inc. 0.37% 191,856 $3.9M No change
SCHP Schwab U.S. Tips ETF 0.36% 141,964 $3.8M No change
EWJ iShares MSCI Japan ETF 0.35% 48,837 $3.7M No change
HLN Haleon PLC-ADR 0.32% 322,762 $3.3M Reduce -24.7%
GLD SPDR Gold Shares 0.32% 10,953 $3.3M Add +16.8%
RCI Rogers Communications Inc. Class B 0.29% 103,931 $3.1M Add +1.4%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.29% 6,868 $3.0M No change
MSFT Microsoft Corp. 0.29% 6,032 $3.0M Reduce -91.3%
META Meta Platforms Inc. Class A 0.29% 4,058 $3.0M Reduce -93.2%
FCX Freeport-McMoran Inc. 0.25% 60,000 $2.6M Reduce -25.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.23% 19,146 $2.4M Reduce -20.7%
ARKK ARK Innovation ETF 0.22% 32,152 $2.3M Reduce -2.1%
GLW Corning Inc. 0.20% 40,000 $2.1M No change
CX Cemex Sab-Spons ADR Part Cer 0.20% 301,972 $2.1M Reduce -24.9%
AAL American Airlines Group Inc. 0.20% 184,687 $2.1M Reduce -24.5%
PYPL PayPal Holdings Inc. 0.16% 22,580 $1.7M Reduce -30.7%
INDA iShares MSCI India ETF 0.15% 28,000 $1.6M No change
BABA Alibaba Group Holding-SP ADR 0.14% 13,170 $1.5M No change
NFLX Netflix Inc. 0.14% 1,061 $1.4M No change
ORCL Oracle Corp. 0.13% 6,330 $1.4M Add +0.0%
VGT Vanguard Info Tech ETF 0.13% 2,028 $1.3M No change
SLG SL Green Realty Corp. 0.12% 20,397 $1.3M Reduce -42.4%
CNI Canadian Natl Railway Co. 0.12% 11,700 $1.2M No change
SNREY Sunrise Communicat Class A 0.11% 21,220 $1.2M Reduce -32.0%
IAU iShares Gold Trust 0.11% 17,820 $1.1M Add +949.5%
PLTR Palantir Technologies Inc. Class A 0.11% 8,099 $1.1M No change
AA Alcoa Corp. 0.10% 35,437 $1.0M Reduce -29.7%
MCD McDonald's Corp. 0.10% 3,540 $1.0M No change
LBRDK Liberty Broadband-C 0.10% 10,332 $1.0M No change
IGV iShares Expanded Tech-Softwa 0.09% 9,011 $987K No change
VT Vanguard Tot World STK ETF 0.09% 7,500 $964K No change
SPLV Invesco S&P 500 Low Volatili 0.09% 13,000 $947K No change
KKR KKR & Co. Inc. 0.08% 6,657 $885K Add +46.5%
IWF iShares Russell 1000 Growth 0.08% 2,016 $856K No change
DE Deere & Co. 0.08% 1,585 $805K No change
MBI Mbia Inc. 0.07% 180,000 $782K Reduce -35.7%
DJP Ipath Bloomberg Commodity Inc. filed as BARCLAYS BANK PLC 0.07% 22,690 $771K No change
CSCO Cisco Systems Inc. 0.07% 10,753 $746K No change
DAL Delta Air Lines Inc. 0.07% 15,000 $737K Reduce -70.0%
XLV SS Health Care Select Sector 0.07% 5,400 $728K No change
KWEB Kranesh Csi China Internet 0.07% 20,340 $699K No change
V Visa Inc. Class A 0.06% 1,700 $603K No change
ETH Grayscale Ethereum Staking M 0.06% 25,000 $593K No change
AAAU Goldman Sachs Physical Gold 0.06% 17,823 $583K No change
BIDU Baidu Inc. - Spon ADR 0.05% 6,662 $570K No change
MMM 3M Co. 0.05% 3,615 $550K No change
RSP Invesco S&P 500 Equal Weight 0.05% 3,000 $545K No change
IXG iShares Global Financials Et 0.05% 4,700 $522K No change
SCHW Schwab (charles) Corp. 0.05% 5,670 $517K No change
GE General Electric filed as GE AEROSPACE 0.05% 1,890 $485K Reduce -20.9%
QCOM Qualcomm Inc. 0.05% 3,000 $478K No change
PBA Pembina Pipeline Corp. 0.05% 12,750 $477K No change
COHR Coherent Corp. 0.05% 5,308 $474K Reduce -82.1%
TSLA Tesla Inc. 0.04% 1,442 $458K No change
CVX Chevron Corp. 0.04% 3,186 $456K Reduce -79.0%
MNTK Montauk Renewables Inc. 0.04% 197,859 $446K No change
WMT Walmart Inc. 0.04% 4,500 $440K No change
SIRI Sirius XM Holdings Inc. 0.04% 18,308 $421K No change
SCHH Schwab US REIT ETF 0.04% 19,850 $419K No change
XOM Exxon Mobil Corp. 0.04% 3,789 $409K Reduce -81.8%
NEM Newmont Corp. 0.04% 7,000 $408K Reduce -7.4%
APH Amphenol Corp. Class A 0.04% 5,762 $406K Add +99.5%
URNM Sprott Uranium Miners ETF 0.04% 8,500 $406K No change
WMB Williams Cos Inc. 0.04% 6,473 $406K No change
EQX Equinox Gold Corp. 0.04% 69,125 $398K No change
VWO Vanguard Ftse Emerging Marke 0.04% 8,020 $397K No change
PFE Pfizer Inc. 0.03% 15,000 $364K No change
MTUM iShares MSCI USA Momentum Fa 0.03% 1,502 $361K No change
AMD Advanced Micro Devices 0.03% 2,508 $356K No change
WSO Watsco Inc. 0.03% 780 $344K No change
JNJ Johnson & Johnson 0.03% 2,230 $340K No change
EUFN iShares MSCI Europe Financia 0.03% 10,600 $335K No change
NKE Nike Inc. Class B 0.03% 4,640 $330K No change

Show all 309 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $0 (not counted above)
SecurityClassShares / PrincipalValueChange
VAL.WS Valaris Ltd. -CW28 *W EXP 04/29/202 109$0No change

Portfolio Sells Q1 2025 → Q2 2025
GOOGL Alphabet Inc. Class A Reduce -84.0% 0.75% −2.79
META Meta Platforms Inc. Class A Reduce -93.2% 0.29% −2.53
AMZN Amazon.com Inc. Reduce -79.4% 0.93% −2.43
NVDA Nvidia Corp. Reduce -76.5% 1.28% −1.95
MSFT Microsoft Corp. Reduce -91.3% 0.29% −1.85
COST Costco Wholesale Corp. Reduce -39.3% 1.46% −0.52
DDOG Datadog Inc. Class A Sold out 0.00% −0.20
AIG American International Group Reduce -22.6% 1.40% −0.18
CVX Chevron Corp. Reduce -79.0% 0.04% −0.17
XOM Exxon Mobil Corp. Reduce -81.8% 0.04% −0.16
COHR Coherent Corp. Reduce -82.1% 0.05% −0.11
DAL Delta Air Lines Inc. Reduce -70.0% 0.07% −0.11
BAC Bank of America Corp. Reduce -29.3% 1.09% −0.08
CBRE CBRE Group Inc. Class A Reduce -30.0% 0.47% −0.07
SLG SL Green Realty Corp. Reduce -42.4% 0.12% −0.05
HLN Haleon PLC-ADR Reduce -24.7% 0.32% −0.04
MBI Mbia Inc. Reduce -35.7% 0.07% −0.04
JAAA Janus Henderson Aaa Clo ETF Sold out 0.00% −0.03
AA Alcoa Corp. Reduce -29.7% 0.10% −0.03
FWONK Liberty Media Corp. Class C Sold out 0.00% −0.02
PDO PIMCO Dynamic Income Opport Sold out 0.00% −0.02
IYK iShares US Consumer Staples Sold out 0.00% −0.02
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Sold out 0.00% −0.02
PYPL PayPal Holdings Inc. Reduce -30.7% 0.16% −0.01
AAL American Airlines Group Inc. Reduce -24.5% 0.20% −0.01
EXPE Expedia Group Inc. Sold out 0.00% −0.01
LYV Live Nation Entertainment Inc. Sold out 0.00% −0.01
LILA Liberty Latin Americ Class A Reduce -100.0% 0.00% −0.01
IBB iShares Biotechnology ETF Sold out 0.00% −0.01
SAN Banco Santander SA-Spon ADR Sold out 0.00% −0.01
SNREY Sunrise Communicat Class A Reduce -32.0% 0.11% −0.01
SHV iShares 0-1 Year Treasury Bo Reduce -31.9% 0.03% −0.01
BP BP PLC-Spons ADR Reduce -92.6% 0.00% −0.01
BATRK Atlanta Braves Holdings in-C Sold out 0.00% −0.00
LGF.B Lions Gate Entertainment-B Sold out 0.00% −0.00
AI C3.AI Inc. Class A Sold out 0.00% −0.00
LI Li Auto Inc. - ADR Reduce -26.5% 0.01% −0.00
AU Anglogold Ashanti PLC Sold out 0.00% −0.00
SYF Synchrony Financial Reduce -31.8% 0.48% −0.00
FCX Freeport-McMoran Inc. Reduce -25.0% 0.25% −0.00
BBAI Bigbear.ai Holdings Inc. Reduce -50.0% 0.00% +0.00
LILAK Liberty Latin Americ Class C Reduce -0.1% 0.01% +0.00
ARKW ARK Next Generation Technolo Reduce -35.3% 0.02% +0.00
RY Royal Bank of Canada Reduce -9.1% 0.02% +0.00
GEV GE Vernova Inc. Reduce -30.3% 0.02% +0.01
GE General Electric Reduce -20.9% 0.05% +0.01
NEM Newmont Corp. Reduce -7.4% 0.04% +0.01
CX Cemex Sab-Spons ADR Part Cer Reduce -24.9% 0.20% +0.01
COF Capital One Financial Corp. Reduce -25.4% 0.59% +0.02
GOOG Alphabet Inc. Class C Reduce -21.7% 0.71% +0.02

Portfolio Buys Q1 2025 → Q2 2025
IBIT iShares Bitcoin Trust ETF Add +773.6% 2.43% +2.24
AAPL Apple Inc. Add +1.6% 1.72% +0.14
IAU iShares Gold Trust Add +949.5% 0.11% +0.10
GLD SPDR Gold Shares Add +16.8% 0.32% +0.10
RCI Rogers Communications Inc. Class B Add +1.4% 0.29% +0.07
ORCL Oracle Corp. Add +0.0% 0.13% +0.06
KKR KKR & Co. Inc. Add +46.5% 0.08% +0.04
APH Amphenol Corp. Class A Add +99.5% 0.04% +0.02
EWZ iShares MSCI Brazil ETF Add +87.2% 0.02% +0.01
SYM Symbotic Inc. New 0.01% +0.01
HSAI Hesai Group Add +117.6% 0.01% +0.01
CARR Carrier Global Corp. Add +0.2% 0.03% +0.01
GS Goldman Sachs Group Inc. New 0.01% +0.01
RTX RTX Corp. Add +0.1% 0.02% +0.01
PRME Prime Medicine Inc. New 0.00% +0.00
LION Lionsgate Studios Corp. New 0.00% +0.00
QSI Quantum-Si Inc. New 0.00% +0.00
STRZ Starz Entertainment Corp. New 0.00% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 312$1.2BGSK, GOOGL, JPM, UNP, MA
Q1 2026 307$1.2BGSK, GOOGL, JPM, UNP, MA
Q4 2025 314$1.5BGSK, GOOGL, JPM, UNP, MA
Q3 2025 314$1.2BGSK, JPM, UNP, IBIT, GOOGL
Q2 2025 309$1.0BGSK, JPM, UNP, IBIT, AAPL
Q1 2025 317$1.2BGSK, JPM, UNP, GOOGL, AMZN
Q4 2024 322$1.4BGSK, MSFT, GOOGL, JPM, UNP
Q3 2024 333$1.5BGSK, MSFT, GOOGL, JPM, UNP
Q2 2024 332$1.5BGSK, MSFT, GOOGL, JPM, UNP
Q1 2024 342$1.6BGSK, MSFT, GOOGL, JPM, UNP