Nutshell Asset Management Ltd

Exempt adviser

CIK

2021442

Location

LONDON, X0

Portfolio Value

Small $299,835,411

Diversification

Diversified

Filing Date

Global Rank

#5,248 / 8,827 ▲ 1117

Top Industry

Semiconductors 19.1%

Period ended 4 months ago

Filed Aug 12, 2026 · 3mo

7 quarters · since Dec 2024

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Exempt adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 329065

Roster of Nov 1, 2026

Private funds

0 funds

$0 gross assets

LEI

984500D75B488A6ACE74

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Feb 2025 to Nov 2026	—	—
Sep 2024 to Jan 2025	$165,000,000	Pooled investment vehicles (100%)
Feb 2024 to Jul 2024	—	—

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 52.8%, 26.3 effective positions, active share 74.8% against the Nasdaq-100 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

91.6% over the last four quarters (30% to under 100%)

Horizon

Medium horizon

Value-weighted holding period 4.1 quarters (4 to under 12)

Closest benchmark: the Nasdaq-100 as of 2026-06-30, active share 74.8%; sector active share 29.2% against the combined 13F book's sector weights.

Over time 7 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

45 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

7.7%

−2.7 pts

Top 5

32.0%

−10.1 pts

Top 10

52.8%

−14.8 pts

HHI

381

Diversified−172

Portfolio Trend

7 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	51.2%	$153,466,610	20
Financial Services	14.2%	$42,598,078	7
Healthcare	11.3%	$33,959,363	3
Consumer Cyclical	9.0%	$27,080,045	6
Communication Services	7.6%	$22,719,002	4
Unclassified	5.5%	$16,421,713	4
Industrials	1.2%	$3,590,600	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

20 positions

Ticker	Company	Δ Shares	Shares	Value
ROL	Rollins Inc	+214,875	251,875	$10,513,262
FLOT	iShares Floating Rate Bond ETF	+108,100	148,126	$7,561,832
ADBE	Adobe Inc.	+53,662	106,413	$21,816,793
VFLO	VictoryShares Free Cash Flow ETF	+38,300	60,174	$2,752,960
INTU	Intuit Inc.	+36,724	45,914	$11,983,554
ORLY	O Reilly Automotive Inc	+28,954	40,866	$3,763,349
IDXX	Idexx Laboratories Inc	+19,230	25,130	$13,229,437
TSM	Taiwan Semiconductor Manufacturing Co Ltd	+15,660	41,440	$19,790,500
VRSK	Verisk Analytics, Inc.	+14,600	20,000	$3,590,600
BKNG	Booking Holdings Inc.	+12,836	13,775	$2,455,256
MSCI	MSCI Inc.	+9,081	17,011	$9,526,840
VRSN	Verisign Inc	+7,700	11,800	$2,968,408
AAPL	Apple Inc.	+7,700	12,376	$3,581,119
BRK-B	Berkshire Hathaway Inc	+5,400	7,500	$3,752,925
NVDA	Nvidia Corp	+5,363	114,692	$22,948,722
MCO	Moodys Corp	+5,300	7,930	$3,591,655
QQQ	Invesco Qqq Trust, Series 1	+3,792	5,542	$4,081,128
DPZ	Dominos Pizza Inc	+2,423	10,423	$3,085,624
AVGO	Broadcom Inc.	+1,898	16,898	$6,383,219
AZO	Autozone Inc	+845	1,154	$3,688,114
No positions match the current search.

Trimmed

Positions the filer reduced

9 positions

Ticker	Company	Δ Shares	Shares	Value
ANET	Arista Networks, Inc.	−65,298	17,002	$2,888,299
APH	Amphenol Corp	−63,727	58,491	$10,313,133
FTNT	Fortinet, Inc.	−57,140	86,641	$13,309,790
TW	Tradeweb Markets Inc.	−20,128	49,491	$4,932,273
MA	Mastercard Inc	−12,589	18,954	$9,734,774
GOOGL	Alphabet Inc.	−4,410	6,949	$2,483,364
ADP	Automatic Data Processing Inc	−3,816	12,591	$2,819,754
MSFT	Microsoft Corp	−2,988	35,880	$13,383,957
FICO	Fair Isaac Corp	−2,588	2,562	$3,061,026
No positions match the current search.

New Positions

Positions the filer opened this quarter

15 positions

Ticker	Company	Shares	Value
ZTS	Zoetis Inc.	251,591	$18,079,329
APP	AppLovin Corp	25,530	$13,153,821
CBOE	Cboe Global Markets, Inc.	30,047	$7,291,505
NFLX	Netflix Inc	61,380	$4,382,532
BRO	Brown & Brown, Inc.	58,739	$3,768,106
ACN	Accenture plc	28,753	$3,578,023
DECK	Deckers Outdoor Corp	36,000	$3,574,440
META	Meta Platforms, Inc.	4,792	$2,699,285
MEDP	Medpace Holdings, Inc.	5,005	$2,650,597
SNDK	Sandisk Corp	1,108	$2,519,292
MU	Micron Technology Inc	2,118	$2,444,786
LITE	Lumentum Holdings Inc.	2,849	$2,444,612
WDC	Western Digital Corp	3,827	$2,444,381
INTC	Intel Corp	17,460	$2,437,939
EXLS	ExlService Holdings, Inc.	90,847	$2,349,303
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
RMD	Resmed Inc	36,430	$8,177,806
QLYS	Qualys, Inc.	40,644	$3,570,575
V	Visa Inc.	9,800	$2,961,952
CHKP	Check Point Software Technologies Ltd	7,144	$1,020,520
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

45 tracked positions · $299,835,411 total · filing declares 45 positions · $299,835,428 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
NVDA	Nvidia Corp Technology	Added	114,692	+5,363	$22,948,722	+20.4%	7	before history	7.65%
ADBE	Adobe Inc. Technology	Added	106,413	+53,662	$21,816,793	+70.1%	7	before history	7.28%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	41,440	+15,660	$19,790,500	+127.2%	7	before history	6.60%
ZTS	Zoetis Inc. Healthcare	NEW	251,591	NEW	$18,079,329	NEW	1	$94.14	6.03%
MSFT	Microsoft Corp Technology	Reduced	35,880	-2,988	$13,383,957	−7.0%	7	before history	4.46%
FTNT	Fortinet, Inc. Technology	Reduced	86,641	-57,140	$13,309,790	+13.3%	7	before history	4.44%
IDXX	Idexx Laboratories Inc Healthcare	Added	25,130	+19,230	$13,229,437	+299.1%	2	$579.76	4.41%
APP	AppLovin Corp Communication Services	NEW	25,530	NEW	$13,153,821	NEW	1	$482.62	4.39%
INTU	Intuit Inc. Technology	Added	45,914	+33,224	$11,983,554	+118.4%	3	$391.30	4.00%
ROL	Rollins Inc Consumer Cyclical	Added	251,875	+214,875	$10,513,262	+432.0%	3	$52.23	3.51%
APH	Amphenol Corp Technology	Reduced	58,491	-63,727	$10,313,133	−33.2%	3	$134.96	3.44%
MA	Mastercard Inc Financial Services	Reduced	18,954	-12,589	$9,734,774	−38.2%	7	before history	3.25%
MSCI	MSCI Inc. Financial Services	Added	17,011	+9,081	$9,526,840	+122.9%	7	before history	3.18%
FLOT	iShares Floating Rate Bond ETF	Added	148,126	+108,100	$7,561,832	+270.8%	7	before history	2.52%
CBOE	Cboe Global Markets, Inc. Financial Services	NEW	30,047	NEW	$7,291,505	NEW	1	$306.03	2.43%
AVGO	Broadcom Inc. Technology	Added	16,898	+1,898	$6,383,219	+37.5%	2	$337.13	2.13%
TW	Tradeweb Markets Inc. Financial Services	Reduced	49,491	-20,128	$4,932,273	−39.8%	6	$125.40	1.64%
NFLX	Netflix Inc Communication Services	NEW	61,380	NEW	$4,382,532	NEW	1	$88.07	1.46%
QQQ	Invesco Qqq Trust, Series 1	Added	5,542	+3,792	$4,081,128	+304.0%	2	$662.60	1.36%
BRO	Brown & Brown, Inc. Financial Services	NEW	58,739	NEW	$3,768,106	NEW	1	$61.00	1.26%
ORLY	O Reilly Automotive Inc Consumer Cyclical	Added	40,866	+28,954	$3,763,349	+242.2%	5	unpriced	1.26%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	7,500	+5,400	$3,752,925	+272.9%	2	$483.59	1.25%
AZO	Autozone Inc Consumer Cyclical	Added	1,154	+845	$3,688,114	+253.4%	7	before history	1.23%
MCO	Moodys Corp Financial Services	Added	7,930	+5,300	$3,591,655	+213.0%	2	$457.04	1.20%
VRSK	Verisk Analytics, Inc. Industrials	Added	20,000	+14,600	$3,590,600	+250.4%	2	$183.37	1.20%
AAPL	Apple Inc. Technology	Added	12,376	+7,700	$3,581,119	+201.8%	2	$276.29	1.19%
ACN	Accenture plc Technology	NEW	28,753	NEW	$3,578,023	NEW	1	$173.61	1.19%
DECK	Deckers Outdoor Corp Consumer Cyclical	NEW	36,000	NEW	$3,574,440	NEW	1	$105.30	1.19%
DPZ	Dominos Pizza Inc Consumer Cyclical	Added	10,423	+2,423	$3,085,624	+7.5%	3	$393.89	1.03%
FICO	Fair Isaac Corp Technology	Reduced	2,562	-2,588	$3,061,026	−44.3%	2	$1,371.63	1.02%
VRSN	Verisign Inc Technology	Added	11,800	+7,700	$2,968,408	+191.5%	3	$268.60	0.99%
ANET	Arista Networks, Inc. Technology	Reduced	17,002	-65,298	$2,888,299	−71.4%	2	$133.77	0.96%
ADP	Automatic Data Processing Inc Technology	Reduced	12,591	-3,816	$2,819,754	−15.4%	5	$302.17	0.94%
VFLO	VictoryShares Free Cash Flow ETF	Added	60,174	+38,300	$2,752,960	+218.8%	2	$42.17	0.92%
META	Meta Platforms, Inc. Communication Services	NEW	4,792	NEW	$2,699,285	NEW	1	$611.48	0.90%
MEDP	Medpace Holdings, Inc. Healthcare	NEW	5,005	NEW	$2,650,597	NEW	1	$461.51	0.88%
SNDK	Sandisk Corp Technology	NEW	1,108	NEW	$2,519,292	NEW	1	$1,427.50	0.84%
GOOGL	Alphabet Inc. Communication Services	Reduced	6,949	-4,410	$2,483,364	−24.0%	7	before history	0.83%
BKNG	Booking Holdings Inc. Consumer Cyclical	Added	13,775	+12,836	$2,455,256	−37.9%	4	$214.30	0.82%
MU	Micron Technology Inc Technology	NEW	2,118	NEW	$2,444,786	NEW	1	$749.89	0.82%
LITE	Lumentum Holdings Inc. Technology	NEW	2,849	NEW	$2,444,612	NEW	1	$892.05	0.82%
WDC	Western Digital Corp Technology	NEW	3,827	NEW	$2,444,381	NEW	1	$486.23	0.82%
INTC	Intel Corp Technology	NEW	17,460	NEW	$2,437,939	NEW	1	$101.12	0.81%
EXLS	ExlService Holdings, Inc. Technology	NEW	90,847	NEW	$2,349,303	NEW	1	$29.45	0.78%
		Held	22,106	0	$2,025,793	0.0%	5	$91.58	0.68%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.