# EDGAR Filing Document

**Accession Number:** 0001840750
**File Stem:** 0001214659-25-012826
**Filing Date:** 2025-8
**Character Count:** 23103
**Document Hash:** dace44e0f5bd269137531532d29403ac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-25-012826.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001214659-25-012826

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**EFFECTIVENESS DATE**: 20250827

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Stenham Asset Management Ltd
- **CENTRAL INDEX KEY:** 0001840750

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** Y7
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20519
- **FILM NUMBER:** 251260508

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** KINGSWAY HOUSE HAVILLAND STREET
- **STREET 2:** ST PETER PORT
- **CITY:** GUERNSEY
- **PROVINCE COUNTRY:** Y7
- **ZIP:** GY1 2QE
- **BUSINESS PHONE:** 00441481716387

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** KINGSWAY HOUSE HAVILLAND STREET
- **STREET 2:** ST PETER PORT
- **CITY:** GUERNSEY
- **PROVINCE COUNTRY:** Y7
- **ZIP:** GY1 2QE

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Stenham Asset Managment Ltd
- **DATE OF NAME CHANGE:** 20250515

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Stenahm Asset Managment Ltd
- **DATE OF NAME CHANGE:** 20210115

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001840750

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Stenham Asset Management Ltd

**Address:** KINGSWAY HOUSE HAVILLAND STREET, GUERNSEY, Y7 GY1 2QE

**Telephone number:** 303-353-1945

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-20519

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                       | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                  | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| Microsoft Corporation                | 594918104 | 10/12/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |           3550 |                0 | FOR         |                                     3550 | FOR                         |  |
| Visa Inc.                            | 92826C839 | 01/28/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          19250 |                0 | FOR         |                                    19250 | FOR                         |  |
| Visa Inc.                            | 92826C839 | 01/28/2025     | Report on Gender-Based Compensation and Benefits Inequities                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          19250 |                0 | AGAINST     |                                    19250 | FOR                         |  |
| Applied Materials, Inc.              | 038222105 | 06/03/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          35350 |                0 | FOR         |                                    35350 | FOR                         |  |
| Airbus SE                            | N0280G100 | 04/15/2025     | Approve Remuneration Report                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          47550 |                0 | FOR         |                                    47550 | FOR                         |  |
| Airbus SE                            | N0280G100 | 04/15/2025     | Approve Remuneration Policy                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          47550 |                0 | FOR         |                                    47550 | FOR                         |  |
| Airbus SE                            | N0280G100 | 04/15/2025     | Grant Board Authority to Issue Shares and Exclude Preemptive Rights for the Purpose of Employee Share Ownership Plans and Share-Related Long-Term Incentive Plans | CORPORATE GOVERNANCE         |          47550 |                0 | FOR         |                                    47550 | FOR                         |  |
| Airbus SE                            | N0280G100 | 04/15/2025     | Grant Board Authority to Issue Shares and Exclude Preemptive Rights for the Purpose of Company Funding                                                            | CORPORATE GOVERNANCE         |          47550 |                0 | FOR         |                                    47550 | FOR                         |  |
| Ferrari NV                           | N3167Y103 | 04/16/2025     | Approve Remuneration Report                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |           6000 |                0 | FOR         |                                     6000 | FOR                         |  |
| Christian Dior SE                    | F26334106 | 04/17/2025     | Approve Compensation Report of Corporate Officers                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           2850 |                0 | FOR         |                                     2850 | FOR                         |  |
| Christian Dior SE                    | F26334106 | 04/17/2025     | Approve Compensation Report of Bernard Arnault, Chairman                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |           2850 |                0 | FOR         |                                     2850 | FOR                         |  |
| Christian Dior SE                    | F26334106 | 04/17/2025     | Approve Compensation Report of Antoine Arnault, CEO                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |           2850 |                0 | AGAINST     |                                     2850 | AGAINST                     |  |
| Christian Dior SE                    | F26334106 | 04/17/2025     | Approve Remuneration Policy of Directors                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |           2850 |                0 | FOR         |                                     2850 | FOR                         |  |
| Christian Dior SE                    | F26334106 | 04/17/2025     | Approve Remuneration Policy of Chairman                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |           2850 |                0 | AGAINST     |                                     2850 | AGAINST                     |  |
| Christian Dior SE                    | F26334106 | 04/17/2025     | Approve Remuneration Policy of CEO                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |           2850 |                0 | AGAINST     |                                     2850 | AGAINST                     |  |
| LVMH Moet Hennessy Louis Vuitton SE  | F58485115 | 04/17/2025     | Approve Compensation Report of Corporate Officers                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           2650 |                0 | AGAINST     |                                     2650 | AGAINST                     |  |
| LVMH Moet Hennessy Louis Vuitton SE  | F58485115 | 04/17/2025     | Approve Compensation of Bernard Arnault, Chairman and CEO                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |           2650 |                0 | AGAINST     |                                     2650 | AGAINST                     |  |
| LVMH Moet Hennessy Louis Vuitton SE  | F58485115 | 04/17/2025     | Approve Compensation of Antonio Belloni, Vice-CEO                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           2650 |                0 | AGAINST     |                                     2650 | AGAINST                     |  |
| LVMH Moet Hennessy Louis Vuitton SE  | F58485115 | 04/17/2025     | Aprove Remuneration Policy of Directors                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |           2650 |                0 | FOR         |                                     2650 | FOR                         |  |
| LVMH Moet Hennessy Louis Vuitton SE  | F58485115 | 04/17/2025     | Approve Remuneration Policy of Chairman and CEO                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           2650 |                0 | AGAINST     |                                     2650 | AGAINST                     |  |
| Canadian Pacific Kansas City Limited | 13646K108 | 04/30/2025     | Advisory Vote on Executive Compensation Approach                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |         111200 |                0 | FOR         |                                   111200 | FOR                         |  |
| Hermes International SCA             | F48051100 | 04/30/2025     | Approve Compensation Report of Corporate Officers                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           1500 |                0 | AGAINST     |                                     1500 | AGAINST                     |  |
| Hermes International SCA             | F48051100 | 04/30/2025     | Approve Compensation of Axel Dumas, General Manager                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |           1500 |                0 | AGAINST     |                                     1500 | AGAINST                     |  |
| Hermes International SCA             | F48051100 | 04/30/2025     | Approve Compensation of Emile Hermes SAS, General Manager                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |           1500 |                0 | AGAINST     |                                     1500 | AGAINST                     |  |
| Hermes International SCA             | F48051100 | 04/30/2025     | Approve Compensation of Eric de Seynes, Chairman of the Supervisory Board                                                                                         | SECTION 14A SAY-ON-PAY VOTES |           1500 |                0 | FOR         |                                     1500 | FOR                         |  |
| Hermes International SCA             | F48051100 | 04/30/2025     | Approve Remuneration Policy of General Managers                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           1500 |                0 | AGAINST     |                                     1500 | AGAINST                     |  |
| Hermes International SCA             | F48051100 | 04/30/2025     | Approve Remuneration Policy of Supervisory Board Members                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |           1500 |                0 | FOR         |                                     1500 | FOR                         |  |
| Danaher Corporation                  | 235851102 | 06/05/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          27650 |                0 | FOR         |                                    27650 | FOR                         |  |
| GE Aerospace                         | 369604301 | 10/03/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          20400 |                0 | AGAINST     |                                    20400 | AGAINST                     |  |
| Cellnex Telecom SA                   | E2R41M104 | 08/05/2025     | Approve Remuneration Policy                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         128600 |                0 | FOR         |                                   128600 | FOR                         |  |
| Cellnex Telecom SA                   | E2R41M104 | 08/05/2025     | Approve Stock-for-Salary Plan                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         128600 |                0 | FOR         |                                   128600 | FOR                         |  |
| Cellnex Telecom SA                   | E2R41M104 | 08/05/2025     | Advisory Vote on Remuneration Report                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         128600 |                0 | FOR         |                                   128600 | FOR                         |  |
| Union Pacific Corporation            | 907818108 | 08/05/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          22650 |                0 | FOR         |                                    22650 | FOR                         |  |
| Constellation Software Inc.          | 21037X100 | 05/13/2025     | Advisory Vote on Executive Compensation Approach                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |            652 |                0 | FOR         |                                      652 | FOR                         |  |
| Hilton Worldwide Holdings Inc.       | 43300A203 | 05/14/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          24300 |                0 | FOR         |                                    24300 | FOR                         |  |
| Universal Music Group NV             | N90313102 | 05/14/2025     | Approve Remuneration Report                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         192549 |                0 | AGAINST     |                                   192549 | AGAINST                     |  |
| Universal Music Group NV             | N90313102 | 05/14/2025     | Approve Remuneration Policy of Executive Board                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         192549 |                0 | AGAINST     |                                   192549 | AGAINST                     |  |
| Adyen NV                             | N3501V104 | 05/15/2025     | Approve Remuneration Report                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |           1950 |                0 | FOR         |                                     1950 | FOR                         |  |
| Amazon.com Inc.                      | 023135106 | 05/21/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          30450 |                0 | AGAINST     |                                    30450 | AGAINST                     |  |
| Thermo Fisher Scientific Inc.        | 883556102 | 05/21/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          14800 |                0 | AGAINST     |                                    14800 | AGAINST                     |  |
| Zoetis Inc.                          | 98978V103 | 05/21/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          16700 |                0 | FOR         |                                    16700 | FOR                         |  |
| American Financial Group, Inc.       | 025932104 | 05/22/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          51200 |                0 | FOR         |                                    51200 | FOR                         |  |
| Safran SA                            | F4035A557 | 05/22/2025     | Approve Compensation of Ross McInnes, Chairman of the Board                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          20350 |                0 | FOR         |                                    20350 | FOR                         |  |
| Safran SA                            | F4035A557 | 05/22/2025     | Approve Compensation of Olivier Andries, CEO                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |          20350 |                0 | FOR         |                                    20350 | FOR                         |  |
| Safran SA                            | F4035A557 | 05/22/2025     | Approve Compensation Report of Corporate Officers                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |          20350 |                0 | FOR         |                                    20350 | FOR                         |  |
| Safran SA                            | F4035A557 | 05/22/2025     | Approve Remuneration of Directors in the Aggregate Amount of EUR 1.4 Million                                                                                      | SECTION 14A SAY-ON-PAY VOTES |          20350 |                0 | FOR         |                                    20350 | FOR                         |  |
| Safran SA                            | F4035A557 | 05/22/2025     | Approve Remuneration Policy of the Board                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |          20350 |                0 | FOR         |                                    20350 | FOR                         |  |
| Safran SA                            | F4035A557 | 05/22/2025     | Approve Remuneration Policy of CEO                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |          20350 |                0 | FOR         |                                    20350 | FOR                         |  |
| Safran SA                            | F4035A557 | 05/22/2025     | Approve Remuneration Policy of Directors                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |          20350 |                0 | FOR         |                                    20350 | FOR                         |  |
| Mastercard Incorporated              | 57636Q104 | 06/24/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          16200 |                0 | FOR         |                                    16200 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Stenham Asset Management Ltd

**By (Signature):** Ravit Toledano

**By (Printed Signature):** Ravit Toledano

**By (Title):** General Counsel, Director

**Date:** 08/27/2025