In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Pelham Capital Ltd. reported 12 stock positions worth $192.2 million . Its top holding was Linde (LIN) at 12.7% of the portfolio, followed by Hilton Worldwide (HLT, 12.2% ) and Taiwan Semiconductor-SP ADR (TSM, 10.7% ). Compared with Q2 2025, it opened 2 new positions, sold out of 3, added to 6 and reduced 4. The biggest buy was a new position in Arthur J Gallagher (AJG) and the biggest sale an exit from Carpenter Technology (CRS).
Location LONDON, X0
CIK 0001654111
Portfolio Value $192.2M (Q3 2025) Holdings 12 stocks · $192.2M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 LIN Linde PLC 51,303 $24.4M Add +16.8% HLT Hilton Worldwide Holdings Inc. 90,583 $23.5M Reduce -16.8% TSM Taiwan Semiconductor-SP ADR 73,775 $20.6M Reduce -1.3% AMZN Amazon.com Inc. 89,272 $19.6M Add +19.2% MLM Martin Marietta Materials 30,052 $18.9M Add +57.0% GE General Electric filed as GE AEROSPACE 55,831 $16.8M Reduce -30.1% ORLY O'reilly Automotive Inc. 148,017 $16.0M Add +24.7% AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 44,672 $13.8M New APG Api Group Corp. 390,136 $13.4M Reduce -13.0% PLNT Planet Fitness Inc. Class A 123,706 $12.8M New PGR Progressive Corp. 27,975 $6.9M Add +32.6% GEV GE Vernova Inc. 8,781 $5.4M Add +33.8%
Options reported separately and not counted above: MCD puts ($9.9M).
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ CRS Carpenter Technology Sold out 0.00% −7.37 MCO Moody's Corp. Sold out 0.00% −7.16 CP Canadian Pacific Kansas City Sold out 0.00% −5.32 HLT Hilton Worldwide Holdings Inc. Reduce -16.8% 12.23% −3.36 GE General Electric Reduce -30.1% 8.74% −2.31 APG Api Group Corp. Reduce -13.0% 6.98% −1.23 TSM Taiwan Semiconductor-SP ADR Reduce -1.3% 10.72% +1.62
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ AJG Arthur J Gallagher & Co. New 7.20% +7.20 PLNT Planet Fitness Inc. Class A New 6.68% +6.68 MLM Martin Marietta Materials Add +57.0% 9.86% +4.21 ORLY O'reilly Automotive Inc. Add +24.7% 8.30% +2.55 LIN Linde PLC Add +16.8% 12.68% +1.60 AMZN Amazon.com Inc. Add +19.2% 10.20% +1.37 GEV GE Vernova Inc. Add +33.8% 2.81% +0.94 PGR Progressive Corp. Add +32.6% 3.60% +0.57
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ TSM Taiwan Semiconductor-SP ADR put Sold out 85,000 $19.3Mbefore exit MCD McDonald's Corp. put New 32,700 $9.9M PEP Pepsico Inc. put Sold out 73,500 $9.7Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 12 $175.6M HLT, TSM, LIN, AMZN, NVDA Q1 2026 9 $127.6M HLT, TSM, LIN, APG, AMZN Q4 2025 11 $187.9M HLT, LIN, TSM, APG, AMZN Q3 2025 12 $192.2M LIN, HLT, TSM, AMZN, MLM Q2 2025 13 $186.0M HLT, LIN, GE, TSM, AMZN Q1 2025 13 $165.3M HLT, GE, LIN, TSM, ORLY Q4 2024 12 $150.3M HLT, GE, LIN, TSM, ORLY Q3 2024 9 $149.3M HLT, GE, LIN, PLNT, ORLY Q2 2024 10 $163.0M HLT, QQQ, APG, PLNT, LIN Q1 2024 7 $166.4M HLT, LIN, APG, PLNT, CSGP