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Stenham Asset Management Ltd

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13F filer, CIK 1840750, GUERNSEY, Guernsey

Stenham Asset Management Ltd reported $229,412,688 across 24 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 78.74% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-25-012234

Period
2025-06-30
Reported value
$229M
Holdings
24
Top 10 weight
78.74%
New
5
Sold out
9

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CNMnew+133,000$8.03M
AERnew+60,200$7.04M
CMEnew+15,740$4.34M
RACEadded+4,470$2.19M
ZTSadded+13,500$2.11M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
TMOexited-16,080-$8M
AMZNreduced-35,500-$7.79M
CPreduced-76,200-$6.04M
CMAexited-97,500-$5.76M
CRHreduced-52,170-$4.79M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001214659-25-012234, largest first. % of portfolio is the value over $229,412,688, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 348,579 shares; 2025Q2: 348,162 shares 348,162$106M46.26%-417Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 24,300 shares; 2025Q2: 20,030 shares 20,030$9.96M4.34%-4,270Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 58,920 shares; 2025Q2: 43,085 shares 43,085$9.76M4.25%-15,835Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 17,310 shares; 2025Q2: 17,310 shares 17,310$9.73M4.24%0Timeline
CPCANADIAN PACIFIC KANSAS CITYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 190,600 shares; 2025Q2: 114,400 shares 114,400$9.07M3.95%-76,200Timeline
CNMCORE & MAIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not reported; 2025Q2: 133,000 shares 133,000$8.03M3.5%newTimeline
TKOTKO GROUP HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 51,000 shares; 2025Q2: 39,500 shares 39,500$7.19M3.13%-11,500Timeline
AERAERCAP HOLDINGS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not reported; 2025Q2: 60,200 shares 60,200$7.04M3.07%newTimeline
HLTHILTON WORLDWIDE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 25,310 shares; 2025Q2: 25,860 shares 25,860$6.89M3%+550Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 66,730 shares; 2025Q2: 31,230 shares 31,230$6.85M2.99%-35,500Timeline
AFGAMERICAN FINANCIAL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 51,200 shares; 2025Q2: 51,200 shares 51,200$6.46M2.82%0Timeline
DHRDANAHER CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 25,700 shares; 2025Q2: 32,370 shares 32,370$6.39M2.79%+6,670Timeline
RACEFERRARI N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 7,700 shares; 2025Q2: 12,170 shares 12,170$5.97M2.6%+4,470Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 22,130 shares; 2025Q2: 22,770 shares 22,770$5.86M2.55%+640Timeline
ZTSZOETIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 16,700 shares; 2025Q2: 30,200 shares 30,200$4.71M2.05%+13,500Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 22,650 shares; 2025Q2: 18,950 shares 18,950$4.36M1.9%-3,700Timeline
CMECME GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not reported; 2025Q2: 15,740 shares 15,740$4.34M1.89%newTimeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 11,900 shares; 2025Q2: 11,900 shares 11,900$4.23M1.84%0Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not reported; 2025Q2: 2,850 shares 2,850$2.1M0.92%newTimeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not reported; 2025Q2: 7,430 shares 7,430$1.32M0.57%newTimeline
SLVISHARES SILVER TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 30,000 shares; 2025Q2: 30,000 shares 30,000$984K0.43%0Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 60,570 shares; 2025Q2: 8,400 shares 8,400$771K0.34%-52,170Timeline
CEFSPROTT ASSET MANAGEMENT LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 25,000 shares; 2025Q2: 25,000 shares 25,000$752K0.33%0Timeline
PHOINVESCO EXCHANGE TRADED FD TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: 7,400 shares; 2025Q2: 7,400 shares 7,400$517K0.23%0Timeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
TMOTHERMO FISHER SCIENTIFIC INC16,080$8Mshares
CMACOMERICA INC97,500$5.76Mshares
AVGOBROADCOM INC25,055$4.19Mshares
TLNTALEN ENERGY CORP20,790$4.15Mshares
AMATAPPLIED MATLS INC26,500$3.85Mshares
MNKDMANNKIND CORP748,700$3.77Mshares
NVDANVIDIA CORPORATION29,057$3.15Mshares
AMDADVANCED MICRO DEVICES INC29,665$3.05Mshares
COINCOINBASE GLOBAL INC10,810$1.86Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001214659-25-012234 base2025-08-14acceptance time not in the bulk data set