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Funds (13F)

Troy Asset Management Ltd

Backtest from 20 Feb 2015 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+24.1%
S&P 500 +13.4%
Last 12 months
+16.4%
S&P 500 +12.1%
Sharpe ratio
0.77
S&P 500 0.38
Biggest drop
−29.4%
S&P 500 −67.7%
$10.0k$20.0k$40.0k$80.0k 201520172019202120232025 $125k$43.5k
Troy Asset Management LtdS&P 500 $10,000 in Troy Asset Management Ltd from 20 Feb 2015 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Troy Asset Management Ltd's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Troy Asset Management Ltd's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+24.1%+13.4%
Total return+1149%+335%
Last 12 months+16.4%+12.1%
Last 3 months+5.5%—
Last month+4.5%—
This year so far+6.3%—
Volatility a year15.8%22.5%
Sharpe ratio0.770.38
Biggest drop−29.4%−67.7%
Beta to the S&P 5000.501.00
Alpha a year (t-statistic)+7.9% (3.08)—
Share of weeks up57%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
V17.2%——
GOOGL14.0%——
A10.9%——
CB9.0%——
MSFT7.5%——
HUBB7.0%——
ALC6.4%——
VRSN5.2%——
MKL3.7%——
ADBE3.0%——
MA2.2%——
CME1.9%——
META1.5%——
TXN1.4%——
BKNG1.3%——
AMZN1.0%——
SYY1.0%——
PAYX0.8%——
PEP0.8%——
PM0.7%——
NKE0.6%——
SPGI0.6%——
TTWO0.6%——
CP0.5%——
INTU0.5%——
KVUE0.4%——
MCO0.4%——
AZN0.2%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest20 Feb 2015 to 2 Nov 2026+24.1%+13.4%0.770.38−29.4%0.50+7.9% (3.08)
2018 onwards5 Jan 2018 to 2 Nov 2026+27.0%+13.9%0.710.33−29.4%0.49+7.7% (2.72)
Last three years3 Nov 2023 to 2 Nov 2026+68.1%+21.8%0.850.27−29.4%0.37+10.4% (2.82)
Last year7 Nov 2025 to 2 Nov 2026+17.4%+14.2%0.860.73−15.0%0.73+5.3% (0.51)
DateCompanyAction
7 Aug 2026MKLBought
7 Aug 2026CPBought
7 Aug 2026AZNBought
15 May 2026VRSNBought
13 Feb 2026AMZNBought
14 Nov 2025VBought
14 Nov 2025TXNBought
14 Nov 2025TTWOBought
14 Nov 2025TSMBought
14 Nov 2025SYYBought
14 Nov 2025SPGIBought
14 Nov 2025PYPLBought
14 Nov 2025PMBought
14 Nov 2025PEPBought
14 Nov 2025PAYXBought
14 Nov 2025NKEBought
14 Nov 2025MSFTBought
14 Nov 2025METABought
14 Nov 2025MCOBought
14 Nov 2025MCDBought
14 Nov 2025MABought
14 Nov 2025KVUEBought
14 Nov 2025INTUBought
14 Nov 2025HUBBBought
14 Nov 2025GOOGLBought

Dated at the rebalance that made the change.

DateCompanyAction
7 Aug 2026TSMSold
7 Aug 2026MCDSold
7 Aug 2026ADPSold
7 Aug 2026ACNSold
15 May 2026PYPLSold
13 Feb 2026FISVSold
13 Feb 2026AXPSold
14 Nov 2025VSold
14 Nov 2025TXNSold
14 Nov 2025TTWOSold
14 Nov 2025SPGISold
14 Nov 2025PYPLSold
14 Nov 2025PMSold
14 Nov 2025PGSold
14 Nov 2025PEPSold
14 Nov 2025PAYXSold
14 Nov 2025MSFTSold
14 Nov 2025METASold
14 Nov 2025MDTSold
14 Nov 2025MCOSold
14 Nov 2025MCDSold
14 Nov 2025MASold
14 Nov 2025KVUESold
14 Nov 2025KOSold
14 Nov 2025JNJSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest