CALEDONIA INVESTMENTS PLC
Long book
$855.9M
Q1 2026
Positions
15
Top-10 weight
83%
concentration
Last quarter
+9.6%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsCALEDONIA INVESTMENTS PLC is a concentrated fundamental stock-picker, running a $855.9M US long book across 15 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: PHILIP MORRIS INTERNATIONAL, TEXAS INSTRUMENTS INC, MICROSOFT CORP, WATSCO INC, FASTENAL CO.
Over the last 9 quarters its long book ran on average 1.7pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+4.5%
Q2 2024
+11.7%
Q3 2024
-4.3%
Q4 2024
+3.0%
Q1 2025
+11.2%
Q2 2025
+3.6%
Q3 2025
-8.7%
Q4 2025
-5.2%
Q1 2026
+9.6%
Sector allocation
Technology 29%
Consumer discretionary 22%
Consumer staples 14%
Other 11%
Services media 8%
Financials 7%
Communications 4%
Utilities 3%
Long book by quarter
What does CALEDONIA INVESTMENTS own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 702.6K | $116.1M | 13.6% | -4.1% |
| TXN TEXAS INSTRUMENTS INC | Technology | 518.0K | $100.5M | 11.7% | Held |
| MSFT MICROSOFT CORP | Technology | 234.3K | $86.7M | 10.1% | Held |
| WSO WATSCO INC | Consumer discretionary | 232.9K | $84.7M | 9.9% | Held |
| FAST FASTENAL CO | Consumer discretionary | 1.4M | $64.3M | 7.5% | Held |
| SCHW SCHWAB (CHARLES) CORP | Financials | 611.0K | $57.4M | 6.7% | Held |
| MCO MOODY'S CORP | Services media | 129.8K | $56.6M | 6.6% | +9.3% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 111.8K | $55.0M | 6.4% | Held |
| ORCL ORACLE CORP | Technology | 373.1K | $54.9M | 6.4% | Held |
| CTAS CINTAS CORP | Other | 222.0K | $37.5M | 4.4% | +25.4% |
| CHTR CHARTER COMMUNICATIONS INC-A | Communications | 169.7K | $36.6M | 4.3% | Held |
| POOL POOL CORP | Consumer discretionary | 175.9K | $35.6M | 4.2% | Held |
| FTS FORTIS INC | Utilities | 410.0K | $22.8M | 2.7% | -10.2% |
| PAYX PAYCHEX INC | Services media | 133.0K | $12.2M | 1.4% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 22, 2026 | 15 | $855.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 20, 2026 | 15 | $902.3M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 6, 2025 | 15 | $1.02B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 18, 2025 | 15 | $1.02B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 11, 2025 | 14 | $859.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 10, 2025 | 14 | $836.1M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 2, 2024 | 14 | $911.8M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 19, 2024 | 14 | $831.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 12, 2024 | 13 | $774.6M | canonical | SEC ↗ |
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