Our
Portfolio
Diversified by design, our portfolio allocation is as balanced as possible. You can see below that we’re near the benchmark for country and sector exposure. But, when it comes to individual stock positions, we’re highly distinctive – showing just how active and high-conviction our fund managers’ selections are.
Active share | 73%
Active Share is a measure of how actively a portfolio is managed; it is the percentage of the portfolio that differs from its comparative index.
All data is provided as of end September 2025
List of Stock Holdings
| Name | £m | % of Total Assets | Cumulative (%) |
|---|---|---|---|
| Microsoft | 247.9 | 4.5 | 4.5 |
| Amazon.com | 114.3 | 2.1 | 6.5 |
| Alphabet A | 107.5 | 1.9 | 8.5 |
| Taiwan Semicon.Mnfg. | 103.9 | 1.9 | 10.4 |
| Visa 'A' | 100.6 | 1.8 | 12.2 |
| Mastercard | 95.2 | 1.7 | 13.9 |
| Unilever | 81.7 | 1.5 | 15.4 |
| Unitedhealth Group | 76.8 | 1.4 | 16.7 |
| Meta Platforms A | 76.6 | 1.4 | 18.1 |
| Diageo | 74.9 | 1.4 | 19.5 |
| Philip Morris Intl. | 70.5 | 1.3 | 20.7 |
| Salesforce | 68.2 | 1.2 | 22 |
| NVIDIA | 61.9 | 1.1 | 23.1 |
| Everest Group Ord | 61.9 | 1.1 | 24.2 |
| London Stock Exchange | 61.1 | 1.1 | 25.3 |
| Progressive Ord | 59.1 | 1.1 | 26.4 |
| HCA Healthcare | 56.5 | 1 | 27.4 |
| State Street | 52.5 | 0.9 | 28.3 |
| Airbus | 51.1 | 0.9 | 29.3 |
| Ryanair | 49.5 | 0.9 | 30.2 |
Stock Spotlights
Ferrari
FILMED IN JUNE 2025
Rebecca Irwin explains why Ferrari remains a standout stock - combining global brand power with strategic scarcity to tap into a vast and luxury market.
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