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Our portfolio is invested across three investment pools, each managed by a specialist team investing in well-managed businesses that combine long-term growth characteristics with, in many cases, an ability to deliver increasing levels of income. We invest in both listed and private markets, covering a range of sectors, resulting in a well-balanced diversified portfolio of investments with a global reach.
Strategy allocation
Geography(1) distribution
Sector distribution
2. Includes AIR-serv Europe and Cooke Optics
as at 30 September 2024
Our top 10 investments represent 41.4% of net assets:
Name
Pool
Geography1
Business
Value (£m)
Net assets %
Cobepa
Private Capital
Europe
Investment company
181.6
6.2
Stonehage Fleming
Private Capital
Channel Islands
Family office services
180.2
6.2
AIR-serv Europe
Private Capital
United Kingdom
Forecourt vending
174.2
6.0
Liberation Group
Private Capital
United Kingdom
Pubs, bars & inns
147.7
5.1
HighVista Strategies
Funds
United States
Funds of funds
129.1
4.4
Oracle
Public Companies
United States
Software
96.4
3.3
Microsoft
Public Companies
United States
Software
81.2
2.8
Watsco
Public Companies
United States
Ventilation products
73.1
2.5
Axiom Asia funds
Funds
Asia
Funds of funds
72.7
2.5
Texas Instruments
Public Companies
United States
Semiconductors
71.0
2.4
1. Geography is based on the country of listing, country of domicile for unlisted investments and regional analysis for funds.
Our strategy
Our strategy is driven by a resolutely long-term view and by values that endure.
Performance highlights
See how our performance stacks up over time, from NAV to share price and dividends.