Lansdowne Partners (uk) LLP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Lansdowne Partners (uk) LLP reported 20 stock positions worth $706.1 million. Its top holding was Linde (LIN) at 29.4% of the portfolio, followed by CRH (CRH, 14.0%) and Delta Air Lines (DAL, 12.5%). Compared with Q4 2024, it opened 2 new positions, sold out of 6, added to 7 and reduced 11. The biggest buy was Linde (LIN, shares +6%) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −70%).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001608485
- Portfolio Value
- $706.1M (Q1 2025)
- SEC Filing
- 0000919574-25-002982 ↗ filed May 14, 2025
Holdings Value
Holdings 20 stocks · $706.1M
| LIN Linde PLC | 29.36% | 445,272 | $207.3M | Add +6.1% |
| CRH CRH PLC | 13.99% | 1,123,117 | $98.8M | Reduce -42.8% |
| DAL Delta Air Lines Inc. | 12.50% | 2,024,999 | $88.3M | Reduce -41.2% |
| SW Smurfit Westrock PLC | 12.32% | 1,929,952 | $87.0M | Reduce -53.5% |
| TSM Taiwan Semiconductor-SP ADR | 11.71% | 498,017 | $82.7M | Reduce -70.0% |
| ADI Analog Devices Inc. | 5.62% | 196,829 | $39.7M | Reduce -29.8% |
| GOLF Acushnet Holdings Corp. | 5.27% | 542,284 | $37.2M | Reduce -3.7% |
| FCX Freeport-McMoran Inc. | 2.99% | 558,290 | $21.1M | Add +100.1% |
| SHCO Soho House & Co. Inc. | 2.25% | 2,567,413 | $15.9M | Reduce -0.3% |
| IONQ Ionq Inc. | 1.54% | 493,785 | $10.9M | Reduce -50.7% |
| ROK Rockwell Automation Inc. | 0.58% | 15,727 | $4.1M | Add +156.6% |
| AMZN Amazon.com Inc. | 0.46% | 16,930 | $3.2M | Reduce -89.1% |
| TXN Texas Instruments Inc. | 0.44% | 17,451 | $3.1M | Add +6.0% |
| FTV Fortive Corp. | 0.28% | 27,445 | $2.0M | Add +91.0% |
| B Barrick Gold Corp. | 0.28% | 100,790 | $2.0M | Add +179.0% |
| FLUT Flutter Entertainment PLC-Di | 0.16% | 5,009 | $1.1M | Add +47.3% |
| AEM Agnico Eagle Mines Ltd. | 0.08% | 5,404 | $586K | Reduce -5.8% |
| MAR Marriott International Class A | 0.07% | 2,036 | $485K | Reduce -80.4% |
| BABA Alibaba Group Holding-SP ADR | 0.06% | 2,955 | $391K | New |
| SPOTIFY USA INC (SPOT 0 03/15/26) | 0.03% | 434 | $239K | New |
Portfolio Sells Q4 2024 → Q1 2025
| TSM Taiwan Semiconductor-SP ADR | Reduce -70.0% | 11.71% | −12.14 |
| SW Smurfit Westrock PLC | Reduce -53.5% | 12.32% | −3.94 |
| DAL Delta Air Lines Inc. | Reduce -41.2% | 12.50% | −2.64 |
| AMZN Amazon.com Inc. | Reduce -89.1% | 0.46% | −2.02 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −1.99 |
| IONQ Ionq Inc. | Reduce -50.7% | 1.54% | −1.50 |
| RYAAY Ryanair Holdings PLC-SP ADR | Sold out | 0.00% | −0.92 |
| MAR Marriott International Class A | Reduce -80.4% | 0.07% | −0.14 |
| MRNA Moderna Inc. | Sold out | 0.00% | −0.11 |
| BILI Bilibili Inc.-Sponsored ADR | Sold out | 0.00% | −0.04 |
| VMC Vulcan Materials Co. | Sold out | 0.00% | −0.02 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.02 |
| AEM Agnico Eagle Mines Ltd. | Reduce -5.8% | 0.08% | +0.05 |
| CRH CRH PLC | Reduce -42.8% | 13.99% | +0.80 |
| SHCO Soho House & Co. Inc. | Reduce -0.3% | 2.25% | +0.85 |
| ADI Analog Devices Inc. | Reduce -29.8% | 5.62% | +1.29 |
| GOLF Acushnet Holdings Corp. | Reduce -3.7% | 5.27% | +2.36 |
Portfolio Buys Q4 2024 → Q1 2025
| LIN Linde PLC | Add +6.1% | 29.36% | +16.60 |
| FCX Freeport-McMoran Inc. | Add +100.1% | 2.99% | +2.22 |
| ROK Rockwell Automation Inc. | Add +156.6% | 0.58% | +0.45 |
| B Barrick Gold Corp. | Add +179.0% | 0.28% | +0.24 |
| TXN Texas Instruments Inc. | Add +6.0% | 0.44% | +0.22 |
| FTV Fortive Corp. | Add +91.0% | 0.28% | +0.21 |
| FLUT Flutter Entertainment PLC-Di | Add +47.3% | 0.16% | +0.09 |
| BABA Alibaba Group Holding-SP ADR | New | 0.06% | +0.06 |
| SPOTIFY USA INC (SPOT 0 03/15/26) | New | 0.03% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 26 | $2.4B | TSM, ARM, DAL, ADI, UAL |
| Q1 2026 | 22 | $1.9B | TSM, LIN, ADI, DAL, SLB |
| Q4 2025 | 24 | $1.4B | TSM, ADI, DAL, UAL, LIN |
| Q3 2025Amended | 21 | $1.2B | TSM, LIN, DAL, UAL, CRH |
| Q2 2025 | 21 | $769.9M | TSM, LIN, DAL, UAL, FCX |
| Q1 2025 | 20 | $706.1M | LIN, CRH, DAL, SW, TSM |
| Q4 2024Amended | 24 | $1.4B | TSM, SW, DAL, CRH, LIN |
| Q3 2024Amended | 25 | $1.3B | TSM, SW, CRH, LIN, DAL |
| Q2 2024Amended | 26 | $1.3B | TSM, CRH, LIN, DAL, AMZN |
| Q1 2024Amended | 35 | $1.5B | TSM, CRH, RYAAY, LIN, DAL |