Stocks/Funds/CIK 1831132

Windmill Hill Asset Management Ltd

long-term holderconcentrated
Quarterly 13F filings · Latest period 2026-03-31 · CIK 1831132
Assets
$321M
-0.8% YoY
Holdings
23
Lifetime alpha vs market
+13.35% annual
Average hold time
3.1 yr
median 3.5 yr

Quarterly history

Cum return +151% vs S&P +52% · α +99% lifetimeAUM $321M · peak $427MFlow $-67M (-16%)2020-092021-122022-122023-122024-122025-122026-03
AUM ($B)fundS&P 500(gap = α)/ Flow in/out

Behavior signals (lifetime)

Dip response
+3.93%
adds when stocks drop
when a holding falls −10%+
Middle response
+5.74%
steady accumulation
Rally response
-0.68%
trims into rallies
when a holding rises +10%+

Top positions · 23

Ticker$ value% portYoYHold time
SPYXState Street SPDR S&P 50$214M66.7%5.3 yr
EEMXState Street SPDR MSCI E$49M15.2%0.5 yr
EFAXState Street SPDR MSCI E$11M3.5%0.5 yr
GEGE Aerospace$9M2.8%+42.5%3.0 yr
VVisa Inc.$6M1.9%-13.1%3.5 yr
GOOGLAlphabet Inc.$6M1.8%5.5 yr
MCOMoody's Corporation$5M1.5%-5.6%3.5 yr
SPGIS&P Global Inc.$4M1.3%-15.6%3.5 yr
URAGlobal X - Uranium ETF$4M1.3%4.3 yr
$2M0.7%3.0 yr
RKLBRocket Lab USA, Inc.$1M0.4%+259.2%0.8 yr
MSFTMicrosoft Corporation$1M0.3%-0.6%4.0 yr
CCJCameco Corporation$1M0.3%+164.4%4.0 yr
VALEVale S.A.$1M0.3%+72.7%4.0 yr
XOMExxon Mobil Corporation$1M0.3%+47.6%4.0 yr

Portfolio composition (YoY)

Industry mix
Asset Management85.7%+1.4pp$275M
Aerospace & Defense3.3%+1.2pp$10M
Financial - Data & Stock Exchanges2.8%+0.4pp$9M
Financial - Credit Services1.9%+0.7pp$6M
Internet Content & Information1.8%-0.2pp$6M
Asset Management - Global1.3%+0.4pp$4M
Unknown0.7%-0.1pp$2M
Software - Infrastructure0.3%-1.2pp$1M
Uranium0.3%+0.2pp$1M
Industrial Materials0.3%+0.1pp$1M
Country
US98.5%+0.3pp
Unknown0.7%-0.1pp
BR0.5%+0.2pp
CA0.3%+0.2pp
Top 5: 90.1% · Top 10: 96.7% · Top 25: 100.0%

Winners

TickerPrev $PnLYoY %
GE$6M+0.00B42.5%
CCJ$1M+0.00B164.4%
VALE$1M+0.00B72.7%
FCX$1M+0.00B57.4%
XOM$1M+0.00B47.6%

Losers

TickerPrev $PnLYoY %
SPGI$3M-0.00B-15.6%
V$4M-0.00B-13.1%
MCO$4M-0.00B-5.6%
MSFT$5M-0.00B-0.6%
MOS$1M-0.00B-2.7%

Top buys this quarter · 6

SPGI S&P Global Inc.+$1M
MCO Moody's Corporation+$5M
FIGR Figure Technology Solutions, Inew+$0M
GE GE Aerospace+$9M
GOOGL Alphabet Inc.+$0M
EEMX State Street SPDR MSCI Emergin+$0M

Top sells this quarter · 7

MSFT Microsoft Corporation$3M
IOT Samsara Inc.exit$1M
CXM Sprinklr, Inc.exit$1M
CVNA Carvana Co.exit$1M
DASH DoorDash, Inc.exit$0M
$0M
SPYX State Street SPDR S&P 500 Foss$0M

Quarterly history (TTM returns)

PeriodAUM# PosReturn (1yr)SPY (1yr)Alpha (1yr)Flow
2026-03-31$321M23+43.85%+17.59%+26.26%-0.07B
2025-12-31$427M26+50.76%+17.72%+33.04%+0.03B
2025-09-30$381M24+54.16%+17.52%+36.64%-0.04B
2025-06-30$363M26+48.00%+14.94%+33.06%-0.07B
2025-03-31$323M26+11.83%+8.30%+3.53%+0.03B
2024-12-31$306M27+38.59%+24.89%+13.70%+0.11B
2024-09-30$187M24+47.68%+36.04%+11.65%-0.08B
2024-06-30$238M27+31.16%+24.49%+6.67%-0.04B
2024-03-31$279M27+48.08%+29.62%+18.46%+0.08B
2023-12-31$172M38+44.51%+26.18%+18.34%-0.09B
2023-09-30$231M31+27.75%+21.57%+6.18%+0.01B
2023-06-30$223M30+40.50%+19.42%+21.08%+0.06B
2023-03-31$144M29+5.45%-7.82%+13.27%-0.03B
2022-12-31$156M31-0.65%+7.56%-8.21%-0.01B
2022-09-30$171M23+7.91%-4.93%+12.84%-0.04B
2022-06-30$194M18-14.61%-16.11%+1.50%+0.02B