CALEDONIA INVESTMENTS PLC

Caledonia Investments' $856M Q1 2026 13F is a quietly run quality-compounder portfolio with 15 positions spread across technology, financial data, and business-services names. The manager added to Moody's — increasing the stake by 9.3% in shares even as the total value fell $4M — and increased Cintas by 25% in shares, both of which read as deliberate accumulation into quarter-end weakness. Philip Morris and Fortis were trimmed by roughly 4% and 10% in shares, respectively. There are no new positions and no outright sales this quarter; the portfolio is being actively managed within its existing mandate rather than rebuilt. The whaleScore of 75 reflects a $856M book of well-known compounders, not a speculative or high-turnover strategy.