Lansdowne Partners (uk) LLP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Lansdowne Partners (uk) LLP reported 21 stock positions worth $769.9 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 21.7% of the portfolio, followed by Linde (LIN, 18.8%) and Delta Air Lines (DAL, 9.9%). Compared with Q1 2025, it opened 2 new positions, sold out of 2, added to 9 and reduced 8. The biggest buy was Taiwan Semiconductor-SP ADR (TSM, shares +48%) and the biggest sale Linde (LIN, shares −31%).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001608485
- Portfolio Value
- $769.9M (Q2 2025)
- SEC Filing
- 0000919574-25-004687 ↗ filed Aug 14, 2025
Holdings Value
Holdings 21 stocks · $769.9M
| TSM Taiwan Semiconductor-SP ADR | 21.72% | 738,205 | $167.2M | Add +48.2% |
| LIN Linde PLC | 18.81% | 308,634 | $144.8M | Reduce -30.7% |
| DAL Delta Air Lines Inc. | 9.93% | 1,553,889 | $76.4M | Reduce -23.3% |
| UAL United Airlines Holdings Inc. | 8.85% | 856,174 | $68.2M | New |
| FCX Freeport-McMoran Inc. | 8.10% | 1,438,082 | $62.3M | Add +157.6% |
| SW Smurfit Westrock PLC | 7.31% | 1,304,056 | $56.3M | Reduce -32.4% |
| CRH CRH PLC | 6.26% | 525,214 | $48.2M | Reduce -53.2% |
| GOLF Acushnet Holdings Corp. | 5.11% | 540,385 | $39.4M | Reduce -0.3% |
| ADI Analog Devices Inc. | 4.53% | 146,488 | $34.9M | Reduce -25.6% |
| IONQ Ionq Inc. | 2.80% | 501,637 | $21.6M | Add +1.6% |
| SHCO Soho House & Co. Inc. | 2.45% | 2,567,413 | $18.9M | No change |
| AMZN Amazon.com Inc. | 1.36% | 47,693 | $10.5M | Add +181.7% |
| ROK Rockwell Automation Inc. | 1.16% | 26,775 | $8.9M | Add +70.3% |
| TXN Texas Instruments Inc. | 0.79% | 29,338 | $6.1M | Add +68.1% |
| FTV Fortive Corp. | 0.34% | 50,143 | $2.6M | Add +82.7% |
| FLUT Flutter Entertainment PLC-Di | 0.15% | 3,925 | $1.1M | Reduce -21.6% |
| RAL Ralliant Corp. | 0.11% | 16,713 | $810K | Add +82.9% |
| AEM Agnico Eagle Mines Ltd. | 0.10% | 6,337 | $754K | Add +17.3% |
| MAR Marriott International Class A | 0.07% | 2,036 | $556K | No change |
| SPOTIFY USA INC (SPOT 0 03/15/26) | 0.04% | 401 | $308K | Reduce -7.6% |
| VMC Vulcan Materials Co. | 0.03% | 1,002 | $261K | New |
Portfolio Sells Q1 2025 → Q2 2025
| LIN Linde PLC | Reduce -30.7% | 18.81% | −10.56 |
| CRH CRH PLC | Reduce -53.2% | 6.26% | −7.73 |
| SW Smurfit Westrock PLC | Reduce -32.4% | 7.31% | −5.01 |
| DAL Delta Air Lines Inc. | Reduce -23.3% | 9.93% | −2.58 |
| ADI Analog Devices Inc. | Reduce -25.6% | 4.53% | −1.09 |
| B Barrick Gold Corp. | Sold out | 0.00% | −0.28 |
| GOLF Acushnet Holdings Corp. | Reduce -0.3% | 5.11% | −0.16 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.06 |
| FLUT Flutter Entertainment PLC-Di | Reduce -21.6% | 0.15% | −0.01 |
| SPOTIFY USA INC (SPOT 0 03/15/26) | Reduce -7.6% | 0.04% | +0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| TSM Taiwan Semiconductor-SP ADR | Add +48.2% | 21.72% | +10.01 |
| UAL United Airlines Holdings Inc. | New | 8.85% | +8.85 |
| FCX Freeport-McMoran Inc. | Add +157.6% | 8.10% | +5.10 |
| IONQ Ionq Inc. | Add +1.6% | 2.80% | +1.26 |
| AMZN Amazon.com Inc. | Add +181.7% | 1.36% | +0.90 |
| ROK Rockwell Automation Inc. | Add +70.3% | 1.16% | +0.58 |
| TXN Texas Instruments Inc. | Add +68.1% | 0.79% | +0.35 |
| FTV Fortive Corp. | Add +82.7% | 0.34% | +0.06 |
| RAL Ralliant Corp. | Add +82.9% | 0.11% | +0.04 |
| VMC Vulcan Materials Co. | New | 0.03% | +0.03 |
| AEM Agnico Eagle Mines Ltd. | Add +17.3% | 0.10% | +0.01 |
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 |