Top 10 Holdings & Geographical Distribution

Summary by AI ^BETAClose X

Merchants Trust PLC reported its top 10 holdings as of December 31, 2025, with total gross assets amounting to £1,046,400,394. The largest holding was Lloyds Banking Group Plc valued at £59,298,646, representing 5.67% of the portfolio, followed by GSK Plc at £52,089,475 (4.98%) and Rio Tinto Plc at £41,052,050 (3.92%). Geographically, 96.43% of investments were in the United Kingdom, totaling £982,238,086, with the remaining 3.57% (£36,399,284) in Europe ex-UK, primarily France. The total stock value was £1,018,637,370.

Disclaimer*

Merchants Trust PLC

30 January 2026

THE MERCHANTS TRUST PLC LEI: 5299008VJFXCUD2EG312

TOP 10 HOLDINGS AS AT 31 DECEMBER 2025
		Market Value		%
		£
Lloyds Banking Group Plc		59,298,646		5.67
GSK Plc		52,089,475		4.98
Rio Tinto Plc		41,052,050		3.92
British American Tobacco Plc		36,837,500		3.52
Barclays Plc		36,402,525		3.48
Shell Plc		36,325,770		3.47
DCC Plc		28,960,650		2.77
BP Plc		27,856,118		2.66
National Grid Plc		27,290,879		2.61
Reckitt Benckiser Group Plc		26,438,810		2.53


Total Gross Assets		1,046,400,394


	GEOGRAPHICAL DISTRIBUTION AS AT 31 DECEMBER 2025
			VALUE		%

	UNITED KINGDOM		982,238,086		96.43
	EUROPE EX UK		36,399,284		3.57

	Investments		1,018,637,370		100.00


	Europe ex UK
	France		36,399,284		3.57
	Spain		0		0.00
			36,399,284		3.57
	United Kingdom
	UK		982,238,086		96.43
			982,238,086		96.43


	TOTAL stock value		1,018,637,370		100.00

Enquiries:

Nira Mistry

Company Secretary

Tel: 020 3246 7475

30 January 2026

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