Stenham Asset Management Ltd
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Stenham Asset Management Ltd reported 18 stock positions worth $205.9 million. Its top holding was SPDR Gold Shares (GLD) at 67.9% of the portfolio, followed by Honeywell International (HON, 4.1%) and Amazon.com (AMZN, 3.9%). Compared with Q4 2025, it opened 3 new positions, sold out of 8, added to 2 and reduced 5. The biggest buy was Taiwan Semiconductor-SP ADR (TSM, shares +128%) and the biggest sale Nvidia (NVDA, shares −45%).
- Most Recent 13F
- Q2 2026
- Location
- GUERNSEY, Y7
- CIK
- 0001840750
- Portfolio Value
- $205.9M (Q1 2026)
- SEC Filing
- 0001214659-26-006472 ↗ filed May 15, 2026
Holdings Value
Holdings 18 stocks · $205.9M
| GLD SPDR Gold Shares | 67.93% | 325,001 | $139.8M | Reduce -4.9% |
| HON Honeywell International Inc. | 4.11% | 37,441 | $8.5M | No change |
| AMZN Amazon.com Inc. | 3.87% | 38,280 | $8.0M | Reduce -4.5% |
| TSM Taiwan Semiconductor-SP ADR | 3.70% | 22,538 | $7.6M | Add +128.1% |
| UNP Union Pacific Corp. | 3.69% | 31,338 | $7.6M | Reduce -6.9% |
| TLN Talen Energy Corp. | 3.33% | 21,500 | $6.9M | No change |
| AER Aercap Holdings NV | 2.99% | 44,900 | $6.2M | No change |
| NVDA Nvidia Corp. | 2.86% | 33,810 | $5.9M | Reduce -45.2% |
| HUT Hut 8 Corp. | 1.54% | 67,550 | $3.2M | New |
| NAK Northern Dynasty Minerals | 1.39% | 2,046,000 | $2.9M | New |
| YSS York Space Systems Inc. | 1.19% | 110,651 | $2.5M | New |
| SLV iShares Silver Trust | 0.92% | 27,700 | $1.9M | No change |
| TKO Tko Group Holdings Inc. | 0.52% | 5,300 | $1.1M | No change |
| IHAK iShares Cybersecurity & Tech | 0.50% | 23,559 | $1.0M | Add +15.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.43% | 1,867 | $895K | No change |
| CRH CRH PLC | 0.43% | 8,400 | $883K | No change |
| CEF Sprott Physical Gold and Sil | 0.35% | 15,000 | $716K | Reduce -40.0% |
| PHO Invesco Water Resources ETF | 0.24% | 7,400 | $495K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| NVDA Nvidia Corp. | Reduce -45.2% | 2.86% | −2.88 |
| AMZN Amazon.com Inc. | Reduce -4.5% | 3.87% | −0.75 |
| MSFT Microsoft Corp. | Sold out | 0.00% | −0.34 |
| MA Mastercard Inc. Class A | Sold out | 0.00% | −0.32 |
| PCG P G & E Corp. | Sold out | 0.00% | −0.25 |
| GE General Electric | Sold out | 0.00% | −0.24 |
| CEF Sprott Physical Gold and Sil | Reduce -40.0% | 0.35% | −0.22 |
| HLT Hilton Worldwide Holdings Inc. | Sold out | 0.00% | −0.22 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.21 |
| CME Cme Group Inc. | Sold out | 0.00% | −0.20 |
| UNP Union Pacific Corp. | Reduce -6.9% | 3.69% | −0.19 |
| RACE Ferrari NV | Sold out | 0.00% | −0.17 |
| GLD SPDR Gold Shares | Reduce -4.9% | 67.93% | +0.28 |