# Troy Asset Management portfolio: Q2 2026 13F holdings

Sebastian Lyon and Gabrielle Boyle’s Troy Asset Management: $3.6bn in 29 US holdings at Q2 2026, with buys and sells.

In Q2 2026, Troy Asset Management held 29 US-listed stocks worth $3.6bn. Its biggest move was buying Markel Group (now 3.4% of the portfolio), followed by cutting Hubbell (21% fewer shares, now 6.4%). It started 3 new positions and sold out of 4. Its largest holding is Visa at 16%.

13F for the quarter ending 2026-06-30, filed 2026-07-31 ([filing](https://www.sec.gov/Archives/edgar/data/1601407/000160140726000004/0001601407-26-000004-index.htm)). $3.6bn in US-listed holdings.

## 13F holdings

| Company | Value | Portfolio | Change | Q1 2026 |
| --- | --- | --- | --- | --- |
| Visa (V) | $560m | 15.6% | Added 0.0% | 14.7% |
| Alphabet (GOOG) | $458m | 12.8% | Trimmed -13% | 12.7% |
| Agilent Technologies (A) | $356m | 9.9% | Added +11% | 8.2% |
| Canadian National Railway (CNI) | $322m | 9.0% | Trimmed -2.5% | 8.5% |
| Chubb (CB) | $295m | 8.2% | Trimmed -1.0% | 8.5% |
| Microsoft (MSFT) | $246m | 6.9% | Trimmed -4.0% | 7.6% |
| Hubbell (HUBB) | $229m | 6.4% | Trimmed -21% | 8.1% |
| Alcon (ALC) | $208m | 5.8% | Added +27% | 5.3% |
| Verisign (VRSN) | $169m | 4.7% | Trimmed -14% | 5.8% |
| Markel Group (MKL) | $120m | 3.4% | New | – |
| Adobe (ADBE) | $97.1m | 2.7% | Trimmed -9.7% | 3.8% |
| Mastercard (MA) | $71.2m | 2.0% | Added +8.0% | 1.9% |
| CME Group (CME) | $61.5m | 1.7% | Added +22% | 2.0% |
| Meta Platforms (META) | $47.9m | 1.3% | Added +18% | 1.2% |
| Texas Instruments (TXN) | $45.8m | 1.3% | Trimmed -7.4% | 1.0% |
| Booking Holdings (BKNG) | $41.2m | 1.1% | Added +21% | 1.0% |
| Amazon.com (AMZN) | $32.1m | 0.9% | Added +10% | 0.8% |
| Sysco (SYY) | $31.5m | 0.9% | Trimmed -7.3% | 0.9% |
| Paychex (PAYX) | $24.7m | 0.7% | Trimmed -31% | 1.0% |
| Pepsico (PEP) | $24.7m | 0.7% | Trimmed -7.4% | 0.9% |
| Philip Morris International (PM) | $22.4m | 0.6% | Trimmed -5.3% | 0.6% |
| Nike (NKE) | $19.0m | 0.5% | Trimmed -7.3% | 0.8% |
| S&P Global (SPGI) | $18.5m | 0.5% | Added +10% | 0.5% |
| Take-Two Interactive Softwre (TTWO) | $17.9m | 0.5% | Added +10% | 0.4% |
| Canadian Pacific Kansas City (CP) | $15.9m | 0.4% | New | – |
| Intuit (INTU) | $15.2m | 0.4% | Trimmed -19% | 0.9% |
| Kenvue (KVUE) | $14.3m | 0.4% | Trimmed -7.4% | 0.4% |
| Moody's (MCO) | $14.3m | 0.4% | Added +10% | 0.4% |
| Astrazeneca (AZN) | $7.4m | 0.2% | New | – |
| Accenture (ACN) | – | – | Sold out | 0.8% |
| McDonald’s (MCD) | – | – | Sold out | 0.7% |
| Automatic Data Processing (ADP) | – | – | Sold out | 0.7% |
| Taiwan Semiconductor Manufacturing (TSM) | – | – | Sold out | 0.0% |

Source: SEC filings, via moatshark (https://www.moatshark.com/m/troy-asset-management). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.