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Livermore
Livermore
ZHEN

Windmill Hill Asset Management Ltd

SEC CIK
0001831132
Latest filing
Aug 10, 2026

The latest 13F from Windmill Hill Asset Management Ltd covers Q2 2026 (filed Aug 10, 2026): 21 long positions worth $448.1M. The top 10 holdings make up 98.5% of the portfolio, and the largest is SPDR Series Trust at 74.0%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
1
Est. +$975.9K
Added
2
Est. +$85.4M
Reduced
10
Est. −$4.09M
Sold out
3
Est. −$3.36M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPDR Series Trust78468R796
    74.0%$331.5M
  2. SPDR Index Shs FDS78470E205
    13.3%$59.7M
  3. SPDR Index Shs FDS78470E106
    2.8%$12.3M
  4. GEGeneral Electric Co
    2.4%$10.7MHistory
  5. VVisa Inc.
    1.5%$6.89MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. SPDR Series Trust78468R796
    +$85.2MAdded
  2. BKSYBlackSky Technology Inc.
    +$975.9KNewHistory
  3. FIGFigma, Inc.
    +$285.0KAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. SPDR Series Trust78468R796
    +7.31 pp66.7% → 74.0%
  2. BKSYBlackSky Technology Inc.
    +0.22 pp0.0% → 0.2%History
  3. FIGFigma, Inc.
    +0.03 pp0.1% → 0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. GOOGLAlphabet Inc.
    −$2.07MReducedHistory
  2. RKLBRocket Lab Corp
    −$1.42MSold outHistory
  3. GEGeneral Electric Co
    −$1.21MReducedHistory
  4. MSFTMicrosoft Corp
    −$1.07MSold outHistory
  5. VCTRVictory Capital Holdings, Inc.
    −$872.8KSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. GOOGLAlphabet Inc.
    −0.66 pp1.8% → 1.1%History
  2. RKLBRocket Lab Corp
    −0.44 pp0.4% → 0.0%History
  3. GEGeneral Electric Co
    −0.43 pp2.8% → 2.4%History
  4. MSFTMicrosoft Corp
    −0.33 pp0.3% → 0.0%History
  5. VCTRVictory Capital Holdings, Inc.
    −0.27 pp0.3% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$448.1M
+$127.4M (+39.7%) vs. prior quarter
Positions
21
−2 vs. prior quarter
Top 10 concentration
98.5%
Top 10 as share of value
Turnover
1.9%
Q2 2026, one quarter
Average holding period
16.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

21 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $448.1M (Q2 2026)

Q1 2021: $186.6MQ2 2021: $188.1MQ4 2021: $138.9MQ1 2022: $198.3MQ2 2022: $193.7MQ3 2022: $171.4MQ4 2022: $155.5MQ1 2023: $144.4MQ2 2023: $223.1MQ3 2023: $230.7MQ4 2023: $171.6MQ1 2024: $279.3MQ2 2024: $238.3MQ3 2024: $187.2MQ4 2024: $305.6MQ1 2025: $323.1MQ2 2025: $363.1MQ3 2025: $381.4MQ4 2025: $426.9MQ1 2026: $320.7MQ2 2026: $448.1M
Q1 2021Q2 2026
13F filings of Windmill Hill Asset Management Ltd by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 10, 202621$448.1MSPDR Series TrustSPDR Index Shs FDSSPDR Index Shs FDSvs. Q1 2026SEC
Q1 2026May 6, 202623$320.7MSPDR Series TrustSPDR Index Shs FDSSPDR Index Shs FDSvs. Q4 2025SEC
Q4 2025Feb 6, 202626$426.9MSPDR Series TrustSPDR Index Shs FDSGEvs. Q3 2025SEC
Q3 2025Oct 31, 202524$381.4MSPDR Series TrustGEVvs. Q2 2025SEC
Q2 2025Jul 28, 202526$363.1MSPDR Series TrustGEHOODvs. Q1 2025SEC
Q1 2025May 7, 202526$323.1MSPDR Series TrustGEMSFTvs. Q4 2024SEC
Q4 2024Feb 26, 2025Amended27$305.6MSPDR Series TrustGOOGLGEvs. Q3 2024SEC
Q3 2024Oct 15, 202424$187.2MSPDR Series TrustGOOGLGlobal X Uranium ETFvs. Q2 2024SEC
Q2 2024Jul 17, 202427$238.3MSPDR Series TrustGlobal X Uranium ETFGOOGLvs. Q1 2024SEC
Q1 2024Apr 22, 202427$279.3MSPDR Series TrustNUGlobal X Uranium ETFvs. Q4 2023SEC
Q4 2023Jan 26, 202438$171.6MSPDR Series TrustGOOGLGlobal X Uranium ETFvs. Q3 2023SEC
Q3 2023Oct 20, 202331$230.7MSPDR Series TrustGlobal X Uranium ETFDBAvs. Q2 2023SEC
Q2 2023Jul 20, 202330$223.1MSPDR Series TrustDBAGlobal X Uranium ETFvs. Q1 2023SEC
Q1 2023May 10, 202329$144.4MSPDR Series TrustDBAGlobal X Uranium ETFvs. Q4 2022SEC
Q4 2022Feb 13, 202331$155.5MSPDR Series TrustVanEck ETF TrustDBAvs. Q3 2022SEC
Q3 2022Oct 20, 202223$171.4MSPDR Series TrustiShares S&P 500 Value ETFVanEck ETF Trustvs. Q2 2022SEC
Q2 2022Jul 26, 202218$193.7MSPDR Series TrustiShares S&P 500 Value ETFVanEck ETF Trustvs. Q1 2022SEC
Q1 2022May 4, 202220$198.3MSPDR Series TrustiShares S&P 500 Value ETFVanEck ETF Trustvs. Q4 2021SEC
Q4 2021Feb 8, 202210$138.9MSPDR Series TrustVanEck ETF TrustInvesco QQQ Trust Series I–SEC
Q2 2021Jul 23, 202112$188.1MSPDR Series TrustVanEck ETF TrustILMNvs. Q1 2021SEC
Q1 2021May 11, 202110$186.6MSPDR Series TrustVanEck ETF TrustGOOGL–SEC