Windmill Hill Asset Management Ltd
Long book
$320.7M
Q1 2026
Positions
23
Top-10 weight
97%
concentration
Last quarter
+15.5%
SPY +14.8%
Turnover
19%
of book per quarter
Strategy in plain words
auto-generated from filingsWindmill Hill Asset Management Ltd is a wealth-management firm allocating client money, running a $320.7M US long book across 23 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: SS SPDR S&P 500 FOSS FL ETF, STATE STREET SPDR MSCI EMERG, STATE STREET SPDR MSCI EAFE, GENERAL ELECTRIC, VISA INC-CLASS A SHARES.
Over the last 9 quarters its long book ran on average 0.6pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+4.0%
Q2 2024
+6.9%
Q3 2024
+2.3%
Q4 2024
-5.0%
Q1 2025
+14.8%
Q2 2025
+10.2%
Q3 2025
+3.0%
Q4 2025
-5.4%
Q1 2026
+15.5%
Sector allocation
Services media 37%
Industrials 31%
Technology 17%
Energy 6%
Materials 5%
Financials 3%
Other 1%
Long book by quarter
What does Windmill Hill own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| GE GENERAL ELECTRIC | Industrials | 31.7K | $9.0M | 2.8% | +0.2% |
| V VISA INC-CLASS A SHARES | Services media | 20.1K | $6.1M | 1.9% | Held |
| GOOGL ALPHABET INC-CL A | Technology | 20.0K | $5.8M | 1.8% | +13.8% |
| MCO MOODY'S CORP | Services media | 10.9K | $4.8M | 1.5% | +16.8% |
| SPGI S&P GLOBAL INC | Services media | 10.2K | $4.3M | 1.3% | +28.6% |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 28.6K | $2.3M | 0.7% | -21.0% |
| RKLB ROCKET LAB CORP | Industrials | 22.1K | $1.4M | 0.4% | Held |
| MSFT MICROSOFT CORP | Technology | 2.9K | $1.1M | 0.3% | -76.2% |
| CCJ CAMECO CORP | Materials | 9.3K | $1.0M | 0.3% | Held |
| XOM EXXON MOBIL CORP | Energy | 5.3K | $897K | 0.3% | Held |
| FCX FREEPORT-MCMORAN INC | Materials | 15.0K | $883K | 0.3% | Held |
| VCTR VICTORY CAPITAL HOLDING - A | Financials | 13.3K | $873K | 0.3% | Held |
| COP CONOCOPHILLIPS | Energy | 6.0K | $788K | 0.2% | Held |
| SLB SLB LTD | Energy | 14.2K | $731K | 0.2% | Held |
| MOS MOSAIC CO/THE | Other | 23.2K | $592K | 0.2% | Held |
| FIGR FIGURE TECHNOLOGY SOLUT-CL A | Financials | 12.5K | $424K | 0.1% | New |
| FIG FIGMA INC-CL A | Technology | 13.3K | $281K | 0.1% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 6, 2026 | 23 | $320.7M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 6, 2026 | 26 | $426.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 31, 2025 | 24 | $381.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 28, 2025 | 26 | $363.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 7, 2025 | 26 | $323.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR/ARESTATEMENT | Feb 26, 2025 | 27 | $305.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 28, 2025 | 27 | $305.6M | SEC ↗ | |
| Q3 2024 | 13F-HR | Oct 15, 2024 | 24 | $187.2M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 17, 2024 | 27 | $238.3M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 22, 2024 | 27 | $279.3M | canonical | SEC ↗ |