Hengistbury Investment Partners LLP

Key Holdings

The portfolio is dominated by two financial giants, which together account for over 90% of the total assets.

• Interactive Brokers Group (IBKR): This is the largest position, valued at $78.17 million, representing a massive 49.49% portfolio allocation. The firm holds 1.14 million shares. This heavy weighting suggests that Hengistbury views IBKR as a primary driver of future alpha, likely due to its position as a broker-dealer benefiting from market volatility and global expansion.
• Visa Inc. (V): The second largest holding is Visa, valued at $64.29 million (40.70% allocation), comprising 188,000 shares. Visa provides exposure to the global payments sector, offering a defensive yet growth-oriented counterweight to the more cyclical nature of a brokerage like Interactive Brokers.
• Booking Holdings Inc. (BKNG): The third and final position is Booking Holdings, valued at $15.49 million (9.80% allocation), consisting of 3,000 shares. While a smaller position relative to the top two, it provides significant diversification away from financials into the industrials/travel sector.