Montanaro Asset Management Ltd
SEC Form 13F institutional filer · CIK 0001831133
13F-HR · 6 reported holdings · 2026-03-31
Reported long-US-equity value
$0.07B
Top-10 concentration
100.0%
Montanaro Asset Management Ltd — $65M AUM allocation strategy
Montanaro Asset Management Ltd files SEC Form 13F and reports $65M of long US equity value across 6 reported holdings for 2026-03-31.
Its largest sector bet is Health Care 37.1%, followed by Utilities 18.8% and Industrials 16.7%.
The top 10 holdings account for 100% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Montanaro Asset Management Ltd — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$65M
total across 6 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
100% of value
higher = narrower conviction; lower = spread / hedging
Biggest trims (shares)
−$ROL −102K sh · −$7.46M−$TECH −5.4K sh · −$2.55M−$VEEV −3.6K sh · −$2.52M
Added from nil (new positions)
None this quarter
Exited to nil (held last quarter, gone now)
None this quarter
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Life Sciences Tools & Services27.4%—
- Water Utilities18.8%—
- Environmental & Facilities Services16.7%—
- Application Software14.4%—
- Financial Exchanges & Data13.0%—
- Health Care Technology9.7%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
6 of 6 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $TECH | Bio-Techne Corp | 341K | $17.8M | -5.4K | 27.4% |
| $AWK | American Water Works Company Inc | 89.8K | $12.2M | -400 | 18.8% |
| $ROL | Rollins Inc | 203K | $10.8M | -102K | 16.7% |
| $TYL | Tyler Technologies Inc | 27.3K | $9.36M | -2.95K | 14.4% |
| $MSCI | MSCI Inc | 15.7K | $8.44M | +500 | 13.0% |
| $VEEV | Veeva Systems Inc | 36K | $6.32M | -3.6K | 9.7% |
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
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How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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