Lansdowne Partners (uk) LLP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 19, 2025), Lansdowne Partners (uk) LLP reported 21 stock positions worth $1.2 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 33.4% of the portfolio, followed by Linde (LIN, 14.6%) and Delta Air Lines (DAL, 10.9%). Compared with Q2 2025, it opened 3 new positions, sold out of 3, added to 11 and reduced 6. The biggest buy was Taiwan Semiconductor-SP ADR (TSM, shares +92%) and the biggest sale an exit from Freeport-McMoran (FCX).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001608485
- Portfolio Value
- $1.2B (Q3 2025)
- SEC Filing
- 0000919574-25-007111 ↗ filed Nov 19, 2025
Holdings Value
Holdings 21 stocks · $1.2B
| TSM Taiwan Semiconductor-SP ADR | 33.44% | 1,419,315 | $396.4M | Add +92.3% |
| LIN Linde PLC | 14.61% | 364,542 | $173.2M | Add +18.1% |
| DAL Delta Air Lines Inc. | 10.94% | 2,284,257 | $129.6M | Add +47.0% |
| UAL United Airlines Holdings Inc. | 8.96% | 1,100,211 | $106.2M | Add +28.5% |
| CRH CRH PLC | 6.56% | 648,129 | $77.7M | Add +23.4% |
| SW Smurfit Westrock PLC | 4.62% | 1,286,111 | $54.7M | Reduce -1.4% |
| GOLF Acushnet Holdings Corp. | 3.51% | 530,089 | $41.6M | Reduce -1.9% |
| IONQ Ionq Inc. | 3.25% | 1,937,031 | $38.6M | Add +286.1% |
| ADI Analog Devices Inc. | 3.14% | 151,401 | $37.2M | Add +3.4% |
| AMZN Amazon.com Inc. | 3.09% | 167,028 | $36.7M | Add +250.2% |
| TECK Teck Resources Ltd.-CLS B | 2.67% | 722,054 | $31.7M | New |
| SHCO Soho House & Co. Inc. | 1.92% | 2,567,413 | $22.7M | No change |
| ROK Rockwell Automation Inc. | 0.87% | 29,540 | $10.3M | Add +10.3% |
| B Barrick Mining Corp. | 0.73% | 265,824 | $8.7M | New |
| ARM Arm Holdings PLC-ADR | 0.72% | 59,975 | $8.5M | New |
| TXN Texas Instruments Inc. | 0.56% | 36,024 | $6.6M | Add +22.8% |
| FTV Fortive Corp. | 0.20% | 48,375 | $2.4M | Reduce -3.5% |
| RAL Ralliant Corp. | 0.06% | 17,594 | $769K | Add +5.3% |
| AEM Agnico Eagle Mines Ltd. | 0.06% | 4,553 | $767K | Reduce -28.1% |
| FLUT Flutter Entertainment PLC-Di | 0.05% | 2,553 | $648K | Reduce -35.0% |
| MAR Marriott International Class A | 0.03% | 1,298 | $338K | Reduce -36.3% |
Portfolio Sells Q2 2025 → Q3 2025
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −8.10 |
| SW Smurfit Westrock PLC | Reduce -1.4% | 4.62% | −2.69 |
| GOLF Acushnet Holdings Corp. | Reduce -1.9% | 3.51% | −1.60 |
| FTV Fortive Corp. | Reduce -3.5% | 0.20% | −0.14 |
| FLUT Flutter Entertainment PLC-Di | Reduce -35.0% | 0.05% | −0.09 |
| MAR Marriott International Class A | Reduce -36.3% | 0.03% | −0.04 |
| SPOTIFY USA INC (SPOT 0 03/15/26) | Sold out | 0.00% | −0.04 |
| VMC Vulcan Materials Co. | Sold out | 0.00% | −0.03 |
| AEM Agnico Eagle Mines Ltd. | Reduce -28.1% | 0.06% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| TSM Taiwan Semiconductor-SP ADR | Add +92.3% | 33.44% | +11.73 |
| TECK Teck Resources Ltd.-CLS B | New | 2.67% | +2.67 |
| AMZN Amazon.com Inc. | Add +250.2% | 3.09% | +1.74 |
| DAL Delta Air Lines Inc. | Add +47.0% | 10.94% | +1.01 |
| B Barrick Mining Corp. | New | 0.73% | +0.73 |
| ARM Arm Holdings PLC-ADR | New | 0.72% | +0.72 |
| IONQ Ionq Inc. | Add +286.1% | 3.25% | +0.45 |
| CRH CRH PLC | Add +23.4% | 6.56% | +0.29 |
| UAL United Airlines Holdings Inc. | Add +28.5% | 8.96% | +0.10 |
| RAL Ralliant Corp. | Add +5.3% | 0.06% | −0.04 |
| TXN Texas Instruments Inc. | Add +22.8% | 0.56% | −0.23 |
| ROK Rockwell Automation Inc. | Add +10.3% | 0.87% | −0.28 |
| ADI Analog Devices Inc. | Add +3.4% | 3.14% | −1.39 |
| LIN Linde PLC | Add +18.1% | 14.61% | −4.20 |
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 |