Stenham Asset Management
GUERNSEY, Y7files as Stenham Asset Management Ltd
$140m in 15 US stocks at the end of 30 June 2026. The top 10 are 97.3% of the money. It changed about 24.3% of the portfolio this quarter.
Value
$140m
Stocks
15
Top 10 share
97.3%
Turnover
24.3%
What changed this quarter
New
Bought for the first time this quarter.
- SandiskSNDK1.2% of the fund
- Hudbay MineralsHBM1.1% of the fund
- MGM Resorts InternationalMGM0.7% of the fund
- Core ScientificCORZ0.4% of the fund
Added
Bought more of a stock they already held.
- Ishares TRIHAK1.4% of the fund+39%
- Berkshire HathawayBRK-B0.8% of the fund+18%
Cut
Sold some of their stake.
- Taiwan Semiconductor ManufacturingTSM1.4% of the fund-82%
- Amazon.comAMZN0.8% of the fund-88%
Sold out
Sold their entire stake.
- Honeywell InternationalHON-100%
- Union PacificUNP-100%
- Talen EnergyTLN-100%
- AerCap HoldingsAER-100%
- NvidiaNVDA-100%
- Hut 8HUT-100%
- CRH PublicCRH-100%
Holdings
- Spdr Gold TRGLD
- Share
- 84.9%
- Value
- $118m
- Shares
- 321,659
Held
- Northern Dynasty MineralsNAK
- Share
- 2.8%
- Value
- $4m
- Shares
- 2,046,000
Held
- Ishares TRIHAK
- Share
- 1.4%
- Value
- $2m
- Shares
- 32,723
+39%
- Hudbay MineralsHBM
- Share
- 1.1%
- Value
- $2m
- Shares
- 65,600
New
- Ishares Silver TRSLV
- Share
- 1.1%
- Value
- $1m
- Shares
- 27,700
Held
- Sprott Asset Management LPCEF
- Share
- 0.4%
- Value
- $603,450
- Shares
- 15,000
Held
- Invesco Exchange Traded FD TPHO
- Share
- 0.4%
- Value
- $511,192
- Shares
- 7,400
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Spdr Gold TRGLD | 84.9% | $118m | 321,659 | Held |
| Northern Dynasty MineralsNAK | 2.8% | $4m | 2,046,000 | Held |
| York Space SystemsYSS | 2.0% | $3m | 110,651 | Held |
| Ishares TRIHAK | 1.4% | $2m | 32,723 | +39% |
| Taiwan Semiconductor ManufacturingTSM | 1.4% | $2m | 4,047 | -82% |
| SandiskSNDK | 1.2% | $2m | 710 | New |
| Hudbay MineralsHBM | 1.1% | $2m | 65,600 | New |
| Ishares Silver TRSLV | 1.1% | $1m | 27,700 | Held |
| Amazon.comAMZN | 0.8% | $1m | 4,700 | -88% |
| Berkshire HathawayBRK-B | 0.8% | $1m | 2,211 | +18% |
| TKO Group HoldingsTKO | 0.8% | $1m | 5,300 | Held |
| MGM Resorts InternationalMGM | 0.7% | $1m | 21,000 | New |
| Sprott Asset Management LPCEF | 0.4% | $603,450 | 15,000 | Held |
| Core ScientificCORZ | 0.4% | $522,036 | 20,400 | New |
| Invesco Exchange Traded FD TPHO | 0.4% | $511,192 | 7,400 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 39.1% since 30 June 2025.
Where the money is
Materials3.9%
Technology2.5%
Industrials2.0%
Retail & consumer1.5%
Financial services1.2%
Media & telecom0.8%
Other88.1%
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.