Search Home Who we are Our strategy Shareholder centre Invest with us News & media Contact us Top investments We balance our portfolio by investing in three asset classes: Quoted Equity (Capital and Income), Funds and Private Capital. Each has a strategic allocation of capital, as the pie chart here shows. Allocation to asset classes is dependent on pricing, liquidity, income and growth targets. Some investments require capital for up to a decade or more. We manage our balance sheet accordingly often with substantial levels of cash. Strategy allocation 28% Private Capital Find out more > 23% Quoted Equity - Capital Find out more > 8% Quoted Equity - Income Find out more > 30% Funds Find out more > 11% Cash etc as at 30 September 2021 Holdings over 1% of net assets: Name Strategy Geography1 Business Value (£m) Net assets % Seven Investment Management Private Capital Jersey Investment management 138.8 5.5 Liberation Group Private Capital Jersey Pubs & restaurants 135.1 5.3 Cobehold Private Capital Belgium Investment company 127.4 5.0 Stonehage Fleming Private Capital Guernsey Family office services 121.8 4.8 Aberdeen US PE funds Funds US Funds of funds 118.2 4.7 Cooke Optics Private Capital UK Cine lens manufacturer 104.0 4.1 Axiom Asia funds Funds Asia Funds of funds 91.5 3.6 Oracle Quoted Equity US Software 60.3 2.4 Microsoft Quoted Equity US Software 59.1 2.3 Texas Instruments Quoted Equity US Semiconductors 56.1 2.2 Watsco Quoted Equity US Ventilation products 52.8 2.1 Asia Alternatives funds Funds Asia Funds of funds 51.9 2.0 BioAgilytix Private Capital US Bioanalytical testing 51.0 2.0 Charter Communications Quoted Equity US Cable telecommunications 49.0 1.9 LYFE fund Funds Asia Private equity funds 43.4 1.7 Thermo Fisher Scientific Quoted Equity US Pharma & life science services 42.5 1.7 Stonepeak funds Funds UK Private equity funds 41.5 1.6 Spirax Sarco Quoted Equity UK Steam engineering 40.2 1.6 Hill & Smith Quoted Equity UK Infrastructure 39.0 1.5 Fastenal Quoted Equity US Industrial suppliers 34.4 1.4 British American Tobacco Quoted Equity UK Tobacco & vaping 33.9 1.3 Decheng funds Funds Asia/US Private equity funds 33.8 1.3 Polar Capital Quoted Equity UK Fund manager 32.2 1.3 JF Lehman funds Funds US Private equity funds 31.7 1.2 PAG Asia funds Funds Asia Private equity funds 29.7 1.2 Croda International Quoted Equity UK Chemicals 28.8 1.1 Unilever Quoted Equity UK Consumer goods 27.9 1.1 Becton Dickinson Quoted Equity US Medical technology 26.6 1.0 Unicorn funds Funds Asia Private equity funds 25.8 1.0 Philip Morris Quoted Equity US Tobacco 25.2 1.0 Other investments 483.5 19.2 Investment portfolio 2,237.1 88.1 Cash and other 302.7 11.9 Net assets 2,539.8 100.0 as at 30 September 2021 1. Geography is based on the country of listing, country of domicile for unlisted investments and underlying regional analysis for funds. Our strategy Our strategy is driven by a resolutely long-term view and by values that endure. Find out more Investment model Designed to deliver strong returns over the medium to long term. Find out more Performance highlights See how our performance stacks up over time, from NAV to share price and dividends. Find out more Home Who we are Our strategy Shareholder centre Invest with us News & media Contact us Privacy & cookies policy Terms & conditions Modern slavery statement Tel: 020 7802 8080 Email: enquiries@caledonia.com © 2021 Caledonia Investments plc. Registered in England and Wales. Company number 00235481 Registered office: Cayzer House, 30 Buckingham Gate, London SW1E 6NN Our use of cookies We use cookies to optimise site functionality and give you the best possible experience. AcceptCookie Preferences