Lansdowne Partners (uk) LLP
London, X0
$2.4bn in 26 US stocks at the end of 30 June 2026. The top 10 are 92.5% of the money. It changed about 23.2% of the portfolio this quarter.
Value
$2.4bn
Stocks
26
Top 10 share
92.5%
Turnover
23.2%
What changed this quarter
New
Bought for the first time this quarter.
- nVent ElectricNVT0.5% of the fund
- Agilent TechnologiesA0.5% of the fund
- Sensata Technologies HoldingST0.3% of the fund
- Lamar AdvertisingLAMR<0.1% of the fund
- OUTFRONT MediaOUT<0.1% of the fund
Added
Bought more of a stock they already held.
- Taiwan Semiconductor ManufacturingTSM29.0% of the fund+10%
- ARM HoldingsARM15.6% of the fund+15%
- Baker HughesBKR5.7% of the fund+6087%
- IonQIONQ2.1% of the fund+21%
- Amazon.comAMZN1.3% of the fund+71%
- Barrick MiningB0.6% of the fund+20%
Cut
Sold some of their stake.
- Analog DevicesADI9.4% of the fund-13%
- LindeLIN5.1% of the fund-47%
- SLB LimitedSLB4.9% of the fund-13%
- Teck ResourcesTECK0.8% of the fund-85%
- Smurfit WestrockSW0.7% of the fund-81%
- EatonETN0.6% of the fund-74%
- Rockwell AutomationROK0.2% of the fund-35%
- Marriott InternationalMAR<0.1% of the fund-10%
Sold out
Sold their entire stake.
- AlconALC-100%
Holdings
- ARM HoldingsARM
- Share
- 15.6%
- Value
- $380m
- Shares
- 1,072,493
+15%
- Teck ResourcesTECK
- Share
- 0.8%
- Value
- $18m
- Shares
- 310,564
-85%
- Barrick MiningB
- Share
- 0.6%
- Value
- $15m
- Shares
- 411,335
+20%
- Agnico Eagle MinesAEM
- Share
- <0.1%
- Value
- $720,889
- Shares
- 4,647
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Taiwan Semiconductor ManufacturingTSM | 29.0% | $705m | 1,475,803 | +10% |
| ARM HoldingsARM | 15.6% | $380m | 1,072,493 | +15% |
| Delta Air LinesDAL | 9.5% | $231m | 2,471,261 | Held |
| Analog DevicesADI | 9.4% | $228m | 574,537 | -13% |
| United Airlines HoldingsUAL | 8.7% | $211m | 1,549,179 | Held |
| Baker HughesBKR | 5.7% | $138m | 2,494,112 | +6087% |
| LindeLIN | 5.1% | $124m | 238,619 | -47% |
| SLB LimitedSLB | 4.9% | $119m | 2,560,073 | -13% |
| Acushnet HoldingsGOLF | 2.5% | $61m | 513,572 | Held |
| IonQIONQ | 2.1% | $51m | 966,433 | +21% |
| Amazon.comAMZN | 1.3% | $32m | 132,969 | +71% |
| Texas InstrumentsTXN | 1.1% | $28m | 92,578 | Held |
| Teck ResourcesTECK | 0.8% | $18m | 310,564 | -85% |
| Smurfit WestrockSW | 0.7% | $16m | 347,795 | -81% |
| Barrick MiningB | 0.6% | $15m | 411,335 | +20% |
| RalliantRAL | 0.6% | $15m | 197,849 | Held |
| EatonETN | 0.6% | $14m | 33,865 | -74% |
| nVent ElectricNVT | 0.5% | $12m | 71,122 | New |
| Agilent TechnologiesA | 0.5% | $12m | 88,569 | New |
| MedtronicMDT | 0.3% | $7m | 88,839 | Held |
| Sensata Technologies HoldingST | 0.3% | $7m | 140,290 | New |
| Rockwell AutomationROK | 0.2% | $5m | 9,146 | -35% |
| Agnico Eagle MinesAEM | <0.1% | $720,889 | 4,647 | Held |
| Marriott InternationalMAR | <0.1% | $469,908 | 1,268 | -10% |
| Lamar AdvertisingLAMR | <0.1% | $285,131 | 1,828 | New |
| OUTFRONT MediaOUT | <0.1% | $281,114 | 8,581 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 215.7% since 30 June 2025.
Where the money is
Technology57.3%
Industrials20.3%
Energy10.6%
Materials7.2%
Retail & consumer3.8%
Health care0.8%
Real estate0.0%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.