Our
Portfolio
List of Stock Holdings
| Name | £m | % of Total Assets | Cumulative (%) |
|---|---|---|---|
| Microsoft | 234.8 | 4.1 | 4.1 |
| Taiwan Semicon.Mnfg. | 218.5 | 3.8 | 7.9 |
| Alphabet A | 190.3 | 3.3 | 11.2 |
| Amazon.com | 171.1 | 3 | 14.2 |
| NVIDIA | 161 | 2.8 | 17 |
| Mastercard | 147.4 | 2.6 | 19.6 |
| Samsung Electronics | 116.2 | 2 | 21.6 |
| Visa 'A' | 93.5 | 1.6 | 23.2 |
| Sap Ord | 91.5 | 1.6 | 24.8 |
| HCA Healthcare | 71.4 | 1.2 | 26 |
| Everest Group Ord | 59.7 | 1 | 27.1 |
| Nippon Paint Hld Ord | 56.7 | 1 | 28.1 |
| General Electric | 56.2 | 1 | 29.1 |
| Thermo Fisher Scientific | 54.6 | 1 | 30 |
| Diageo | 53.9 | 0.9 | 30.9 |
| Sk Hynix Ord | 53.4 | 0.9 | 31.9 |
| Galderma Group N Ord | 52.5 | 0.9 | 32.8 |
| Palantir Technologies Cl | 50.6 | 0.9 | 33.7 |
| Marsh Ord | 46.9 | 0.8 | 34.5 |
| Safran | 45.8 | 0.8 | 35.3 |
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 | 72%
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 August 2026
Stock Spotlights
Galderma
FILMED IN JULY 2026
Galderma is a specialist skin health company operating across aesthetics, skincare and therapeutic dermatology. Danielle from Sands sees strong growth potential, driven by rising consumer interest in skin health, younger customers entering the market earlier and increasing uptake among men, while highlighting the company’s trusted brands, loyal professional customer base and strong product pipeline as key strengths.