GUARDCAP ASSET MANAGEMENT Ltd

Long Only Manager

GUARDCAP ASSET MANAGEMENT Ltd is a Long Only Manager led by Steven Andrew Ralph Bates, reporting $9.4B in AUM as of Q3 2025 with 79% concentrated in top 10 holdings.

CIOSteven Andrew Ralph Bates

Portfolio Value: $4.3B
Positions: 27
Top Holding: CME at 14.05%
Last Reported: Q3 2025

Address11 Charles Ii Street, 6th Floor, London, SW1Y 4NS, United Kingdom

Top Holdings

Largest long holdings in GUARDCAP ASSET MANAGEMENT Ltd's portfolio (79.2% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 CME Group CME	Financial - Data & Stock Exchanges Financial Services	$606.2M	14.05%	-$60.5M Sold	0.62% 2.2M shares	Q4 2017 Held for 7y 11m
2 Booking Holdings Inc. BKNG	Travel Services Consumer Cyclical	$406.5M	9.42%	-$136.8M Sold	0.23% 75.3K shares	Q4 2017 Held for 7y 11m
3 Mastercard MA	Financial - Credit Services Financial Services	$379.7M	8.80%	-$42.0M Sold	0.07% 667.6K shares	Q4 2017 Held for 7y 11m
4 Yum China Holdings YUMC	Restaurants Consumer Cyclical	$377.6M	8.75%	-$25.7M Sold	2.42% 8.8M shares	Q4 2017 Held for 7y 11m
5 Microsoft MSFT	Software - Infrastructure Technology	$345.4M	8.01%	-$46.2M Sold	0.01% 666.9K shares	Q1 2021 Held for 4y 8m
6 UnitedHealth Group UNH	Medical - Healthcare Plans Healthcare	$338.5M	7.85%	-$34.5M Sold	0.11% 980.3K shares	Q4 2017 Held for 7y 11m
7 Colgate-Palmolive CL	Household & Personal Products Consumer Defensive	$281.0M	6.51%	-$29.2M Sold	0.43% 3.5M shares	Q4 2017 Held for 7y 11m
8 Nike NKE	Apparel - Footwear & Accessories Consumer Cyclical	$254.0M	5.89%	+$48.3M Bought	0.25% 3.6M shares	Q4 2017 Held for 7y 11m
9 MarketAxess MKTX	Financial - Capital Markets Financial Services	$237.2M	5.50%	-$23.9M Sold	3.64% 1.4M shares	Q4 2018 Held for 6y 11m
10 Automatic Data Processing, Inc. ADP	Staffing & Employment Services Industrials	$192.8M	4.47%	-$29.2M Sold	0.16% 656.8K shares	Q4 2017 Held for 7y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in GUARDCAP ASSET MANAGEMENT Ltd's latest filing

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Market Value

$4.3B

Prior: $5.1B

Q/Q Change

-15.35%

-$782.3M

Net Flows % of MV

-11.61%

Turnover Ratio

6.98%

New Purchases

0 stocks

Added To

5 stocks

+$50.6M

Sold Out Of

0 stocks

Reduced Holdings

22 stocks

-$551.4M

Increased Positions

Position	Shares Δ	Change
1 HDB HDFC Bank HDB	+84.45%	69.7K → 128.6K +$2.0M
2 Globant GLOB	+29.18%	11.8K → 15.3K +$198.0K
3 Nike NKE	+23.47%	3.0M → 3.6M +$48.3M
4 Mercado Libre MELI	+1.2%	2.2K → 2.3K +$63.1K
5 NVO Novo Nordisk NVO	+0.62%	25.2K → 25.3K +$8.6K

Decreased Positions

Position	Shares Δ	Change
1 A. O. Smith AOS	-55.65%	222.0K → 98.5K −$9.1M
2 Booking Holdings Inc. BKNG	-25.17%	100.6K → 75.3K −$136.8M
3 Verisk Analytics, Inc. VRSK	-21.41%	759.2K → 596.6K −$40.9M
4 Automatic Data Processing, Inc. ADP	-13.16%	756.4K → 656.8K −$29.2M
5 Microsoft MSFT	-11.79%	756.0K → 666.9K −$46.2M

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Analytics

Portfolio insights and performance metrics for GUARDCAP ASSET MANAGEMENT Ltd

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Sector Allocation

Financial Services

28.30%

Consumer Cyclical

24.20%

Healthcare

16.30%

Technology

16.10%

Industrials

8.10%

Consumer Defensive

6.50%

Market Cap Distribution

Mega Cap (> $200B)

24.65%

Large Cap ($10B - $200B)

69.16%

Mid Cap ($2B - $10B)

5.52%

N/A (ETF or Unknown)

0.67%

Portfolio Concentration

Top 10 Holdings %

79.24%

Top 20 Holdings %

99.7%

Top 50 Holdings %

100.0%

Top 100 Holdings %