Silphium Asset Management Ltd In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 30, 2025), Silphium Asset Management Ltd reported 29 stock positions worth $124.1 million . Its top holding was Walmart (WMT) at 7.0% of the portfolio, followed by Costco Wholesale (COST, 5.8% ) and Fiserv (FISV, 5.1% ). Compared with Q4 2024, it opened 3 new positions, sold out of 25, added to 18 and reduced 1. The biggest buy was a new position in iShares China Large-Cap ETF (FXI) and the biggest sale an exit from Juniper Networks (JNPR).
Location London, X0
CIK 0001758440
Portfolio Value $124.1M (Q1 2025) Holdings 29 stocks · $124.1M 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 Q4 2024 WMT Walmart Inc. 98,606 $8.7M Add +0.2% COST Costco Wholesale Corp. 7,634 $7.2M Add +0.1% FISV Fiserv Inc. 28,451 $6.3M No change CME Cme Group Inc. 23,228 $6.2M Add +1.8% BRO Brown & Brown Inc. 48,823 $6.1M Add +0.1% MSFT Microsoft Corp. 15,848 $5.9M Add +0.1% AMZN Amazon.com Inc. 28,709 $5.5M Add +11.9% ETN Eaton Corp. PLC 19,335 $5.3M Add +12.1% META Meta Platforms Inc. Class A 8,974 $5.2M Add +12.5% MA Mastercard Inc. Class A 9,120 $5.0M Add +0.1% WM Waste Management Inc. 21,462 $5.0M No change FXI iShares China Large-Cap ETF 137,500 $4.9M New INTU Intuit Inc. 8,009 $4.9M No change TSM Taiwan Semiconductor-SP ADR 23,469 $3.9M Add +0.2% NVDA Nvidia Corp. 34,037 $3.7M Reduce -8.1% LLY Eli Lilly & Co. 4,407 $3.6M Add +0.1% CRM Salesforce Inc. 13,195 $3.5M Add +75.9% RACE Ferrari NV 8,123 $3.5M No change GOOGL Alphabet Inc. Class A 21,950 $3.4M Add +20.3% TXN Texas Instruments Inc. 18,688 $3.4M Add +0.5% HD Home Depot Inc. 8,548 $3.1M No change MCK McKesson Corp. 4,580 $3.1M No change VLTO Veralto Corp. 29,772 $2.9M Add +0.2% AVGO Broadcom Inc. 17,202 $2.9M Add +232.1% FICO Fair Isaac Corp. 1,535 $2.8M Add +24.8% HQY Healthequity Inc. 27,500 $2.4M No change CP Canadian Pacific Kansas City 34,607 $2.4M Add +30.8% TJX TJX Companies Inc. filed as TJX COS INC NEW 18,041 $2.2M New BIDU Baidu Inc. - Spon ADR 12,500 $1.2M New
Portfolio Sells Q4 2024 → Q1 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 Q4 2024 % Of Portfolio Change To Portfolio ▲ JNPR Juniper Networks Inc. Sold out 0.00% −10.23 HES Hess Corp. Sold out 0.00% −8.00 K Kellanova Sold out 0.00% −7.38 HCP Hashicorp Inc. Class A Sold out 0.00% −6.54 FYBR Frontier Communications Pare Sold out 0.00% −3.79 CHX Championx Corp. Sold out 0.00% −3.63 BERY Berry Global Group Inc. Sold out 0.00% −3.48 X United States Steel Corp. Sold out 0.00% −2.60 DFS Discover Financial Services Sold out 0.00% −2.51 AMED Amedisys Inc. Sold out 0.00% −2.48 AAPL Apple Inc. Sold out 0.00% −1.08 PARAA Paramount Global Class B Sold out 0.00% −0.95 ADBE Adobe Inc. Sold out 0.00% −0.82 RNW Renew Energy Global PLC-A Sold out 0.00% −0.75 TECK Teck Resources Ltd.-CLS B Sold out 0.00% −0.74 ARMK Aramark Sold out 0.00% −0.68 PPTA Perpetua Resources Corp. Sold out 0.00% −0.58 ACI Albertsons Cos Inc. Class A Sold out 0.00% −0.57 CYTK Cytokinetics Inc. Sold out 0.00% −0.51 JPM JPMorgan Chase & Co. Sold out 0.00% −0.37 BAC Bank of America Corp. Sold out 0.00% −0.37 WFC Wells Fargo & Co. Sold out 0.00% −0.36 GS Goldman Sachs Group Inc. Sold out 0.00% −0.36 NXE Nexgen Energy Ltd. Sold out 0.00% −0.36 SLSR Solaris Resources Inc. Sold out 0.00% −0.06 NVDA Nvidia Corp. Reduce -8.1% 2.97% +1.16
Portfolio Buys Q4 2024 → Q1 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 Q4 2024 % Of Portfolio Change To Portfolio ▼ FXI iShares China Large-Cap ETF New 3.97% +3.97 WMT Walmart Inc. Add +0.2% 6.98% +3.74 COST Costco Wholesale Corp. Add +0.1% 5.82% +3.27 BRO Brown & Brown Inc. Add +0.1% 4.89% +3.08 CME Cme Group Inc. Add +1.8% 4.97% +3.04 META Meta Platforms Inc. Class A Add +12.5% 4.17% +2.47 MSFT Microsoft Corp. Add +0.1% 4.79% +2.36 AMZN Amazon.com Inc. Add +11.9% 4.40% +2.35 MA Mastercard Inc. Class A Add +0.1% 4.03% +2.28 ETN Eaton Corp. PLC Add +12.1% 4.24% +2.15 CRM Salesforce Inc. Add +75.9% 2.85% +1.94 AVGO Broadcom Inc. Add +232.1% 2.32% +1.88 TJX TJX Companies Inc. New 1.77% +1.77 LLY Eli Lilly & Co. Add +0.1% 2.93% +1.70 GOOGL Alphabet Inc. Class A Add +20.3% 2.74% +1.48 TSM Taiwan Semiconductor-SP ADR Add +0.2% 3.14% +1.45 TXN Texas Instruments Inc. Add +0.5% 2.71% +1.44 FICO Fair Isaac Corp. Add +24.8% 2.28% +1.39 CP Canadian Pacific Kansas City Add +30.8% 1.96% +1.26 VLTO Veralto Corp. Add +0.2% 2.34% +1.24 BIDU Baidu Inc. - Spon ADR New 0.93% +0.93
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SUM Summit Materials Inc. Class A call Sold out 300,000 $15.2Mbefore exit INTC Intel Corp. call Sold out 250,000 $5.0Mbefore exit AU Anglogold Ashanti PLC call Sold out 212,500 $4.9Mbefore exit CLF Cleveland-Cliffs Inc. call Sold out 250,000 $2.4Mbefore exit ACI Albertsons Cos Inc. Class A put Sold out 40,000 $786Kbefore exit PARAA Paramount Global Class B put Sold out 50,000 $523Kbefore exit X United States Steel Corp. call Sold out 10,000 $340Kbefore 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 55 $296.6M VOO, VPL, VGK, NVDA, FXI Q1 2026 48 $264.0M VOO, VPL, URTH, FXI, VGK Q4 2025 46 $235.9M VOO, VPL, NVDA, MSFT, VGK Q3 2025 38 $338.0M VOO, VXUS, IAGG, LQD, VCSH Q2 2025 35 $280.7M VOO, VXUS, LQD, IAGG, GOVT Q1 2025 29 $124.1M WMT, COST, FISV, CME, BRO Q4 2024 51 $274.4M JNPR, HES, K, HCP, FYBR Q3 2024 47 $277.7M EDR, CTLT, JNPR, HES, HCP Q2 2024 50 $209.0M CTLT, JNPR, X, WRK, EDR Q1 2024 44 $193.1M PXD, JNPR, WRK, HES, CTLT