Nutshell Asset Management
LONDON, X0files as Nutshell Asset Management Ltd
$300m in 45 US stocks at the end of 30 June 2026. The top 10 are 52.8% of the money. It changed about 41.2% of the portfolio this quarter.
Value
$300m
Stocks
45
Top 10 share
52.8%
Turnover
41.2%
What changed this quarter
New
Bought for the first time this quarter.
- ZoetisZTS6.0% of the fund
- AppLovinAPP4.4% of the fund
- Cboe Global MktsCBOE2.4% of the fund
- NetflixNFLX1.5% of the fund
- Brown & BrownBRO1.3% of the fund
- AccentureACN1.2% of the fund
- Deckers OutdoorDECK1.2% of the fund
- Meta PlatformsMETA0.9% of the fund
- Medpace HoldingsMEDP0.9% of the fund
- SandiskSNDK0.8% of the fund
- Micron TechnologyMU0.8% of the fund
- Lumentum HoldingsLITE0.8% of the fund
- Western DigitalWDC0.8% of the fund
- IntelINTC0.8% of the fund
- ExlService HoldingsEXLS0.8% of the fund
Added
Bought more of a stock they already held.
- NvidiaNVDA7.7% of the fund+5%
- AdobeADBE7.3% of the fund+102%
- Taiwan Semiconductor ManufacturingTSM6.6% of the fund+61%
- Idexx LaboratoriesIDXX4.4% of the fund+326%
- IntuitINTU4.0% of the fund+400%
- RollinsROL3.5% of the fund+581%
- MsciMSCI3.2% of the fund+115%
- Ishares TRFLOT2.5% of the fund+270%
- BroadcomAVGO2.1% of the fund+13%
- Invesco QQQ TRQQQ1.4% of the fund+217%
- O'Reilly AutomotiveORLY1.3% of the fund+243%
- Berkshire HathawayBRK-B1.3% of the fund+257%
- AutozoneAZO1.2% of the fund+273%
- Moody'sMCO1.2% of the fund+202%
- Verisk AnalyticsVRSK1.2% of the fund+270%
- AppleAAPL1.2% of the fund+165%
- Dominos PizzaDPZ1.0% of the fund+30%
- VerisignVRSN1.0% of the fund+188%
- Victory Portfolios IIVFLO0.9% of the fund+175%
Cut
Sold some of their stake.
- MicrosoftMSFT4.5% of the fund-8%
- FortinetFTNT4.4% of the fund-40%
- AmphenolAPH3.4% of the fund-52%
- MastercardMA3.2% of the fund-40%
- Tradeweb MarketsTW1.6% of the fund-29%
- Fair IsaacFICO1.0% of the fund-50%
- Arista NetworksANET1.0% of the fund-79%
- Automatic Data ProcessingADP0.9% of the fund-23%
- AlphabetGOOGL0.8% of the fund-39%
- Booking HoldingsBKNG0.8% of the fund-41%
Sold out
Sold their entire stake.
- ResmedRMD-100%
- QualysQLYS-100%
- VisaV-100%
- Check Point Software TechnologiesCHKP-100%
Holdings
- Ishares TRFLOT
- Share
- 2.5%
- Value
- $8m
- Shares
- 148,126
+270%
- Cboe Global MktsCBOE
- Share
- 2.4%
- Value
- $7m
- Shares
- 30,047
New
- Invesco QQQ TRQQQ
- Share
- 1.4%
- Value
- $4m
- Shares
- 5,542
+217%
- Victory Portfolios IIVFLO
- Share
- 0.9%
- Value
- $3m
- Shares
- 60,174
+175%
- Spdr Series TrustBIL
- Share
- 0.7%
- Value
- $2m
- Shares
- 22,106
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 7.7% | $23m | 114,692 | +5% |
| AdobeADBE | 7.3% | $22m | 106,413 | +102% |
| Taiwan Semiconductor ManufacturingTSM | 6.6% | $20m | 41,440 | +61% |
| ZoetisZTS | 6.0% | $18m | 251,591 | New |
| MicrosoftMSFT | 4.5% | $13m | 35,880 | -8% |
| FortinetFTNT | 4.4% | $13m | 86,641 | -40% |
| Idexx LaboratoriesIDXX | 4.4% | $13m | 25,130 | +326% |
| AppLovinAPP | 4.4% | $13m | 25,530 | New |
| IntuitINTU | 4.0% | $12m | 45,914 | +400% |
| RollinsROL | 3.5% | $11m | 251,875 | +581% |
| AmphenolAPH | 3.4% | $10m | 58,491 | -52% |
| MastercardMA | 3.2% | $10m | 18,954 | -40% |
| MsciMSCI | 3.2% | $10m | 17,011 | +115% |
| Ishares TRFLOT | 2.5% | $8m | 148,126 | +270% |
| Cboe Global MktsCBOE | 2.4% | $7m | 30,047 | New |
| BroadcomAVGO | 2.1% | $6m | 16,898 | +13% |
| Tradeweb MarketsTW | 1.6% | $5m | 49,491 | -29% |
| NetflixNFLX | 1.5% | $4m | 61,380 | New |
| Invesco QQQ TRQQQ | 1.4% | $4m | 5,542 | +217% |
| Brown & BrownBRO | 1.3% | $4m | 58,739 | New |
| O'Reilly AutomotiveORLY | 1.3% | $4m | 40,866 | +243% |
| Berkshire HathawayBRK-B | 1.3% | $4m | 7,500 | +257% |
| AutozoneAZO | 1.2% | $4m | 1,154 | +273% |
| Moody'sMCO | 1.2% | $4m | 7,930 | +202% |
| Verisk AnalyticsVRSK | 1.2% | $4m | 20,000 | +270% |
| AppleAAPL | 1.2% | $4m | 12,376 | +165% |
| AccentureACN | 1.2% | $4m | 28,753 | New |
| Deckers OutdoorDECK | 1.2% | $4m | 36,000 | New |
| Dominos PizzaDPZ | 1.0% | $3m | 10,423 | +30% |
| Fair IsaacFICO | 1.0% | $3m | 2,562 | -50% |
| VerisignVRSN | 1.0% | $3m | 11,800 | +188% |
| Arista NetworksANET | 1.0% | $3m | 17,002 | -79% |
| Automatic Data ProcessingADP | 0.9% | $3m | 12,591 | -23% |
| Victory Portfolios IIVFLO | 0.9% | $3m | 60,174 | +175% |
| Meta PlatformsMETA | 0.9% | $3m | 4,792 | New |
| Medpace HoldingsMEDP | 0.9% | $3m | 5,005 | New |
| SandiskSNDK | 0.8% | $3m | 1,108 | New |
| AlphabetGOOGL | 0.8% | $2m | 6,949 | -39% |
| Booking HoldingsBKNG | 0.8% | $2m | 13,775 | -41% |
| Micron TechnologyMU | 0.8% | $2m | 2,118 | New |
| Lumentum HoldingsLITE | 0.8% | $2m | 2,849 | New |
| Western DigitalWDC | 0.8% | $2m | 3,827 | New |
| IntelINTC | 0.8% | $2m | 17,460 | New |
| ExlService HoldingsEXLS | 0.8% | $2m | 90,847 | New |
| Spdr Series TrustBIL | 0.7% | $2m | 22,106 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 78.4% since 30 June 2025.
Where the money is
Technology49.5%
Financial services11.8%
Health care11.3%
Media & telecom7.6%
Industrials6.4%
Retail & consumer5.5%
Other7.9%
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.