Capital Gearing Trust PLC GBP: Quarterly Portfolio Update

Capital Gearing Trust P.L.C. reported that, as at September 30, 2026, its ten largest investments made up 48.81% of net assets. Most were UK, US and Japanese government bonds, many of them inflation-linked, meaning their payments are tied to inflation.

Key details

• Largest holdings: UK Treasury 0.125% Inflation-Linked due August 10, 2031 (8.65%), US Treasury 0.125% Inflation-Linked due January 15, 2031 (7.59%), US Treasury 0.125% Inflation-Linked due January 15, 2032 (5.93%) and UK Treasury 0.75% Inflation-Linked due November 22, 2033 (5.17%).
• Next were US Treasury 0.125% Inflation-Linked due July 15, 2031 (4.86%), UK Treasury 0.125% Inflation-Linked due March 22, 2029 (4.85%) and US Treasury 0.5% Inflation-Linked due January 15, 2028 (3.25%).
• Also in the top ten: Vanguard FTSE 100 UCITS ETF, an exchange-traded fund (3.04%), US Treasury 1.75% Inflation-Linked due January 15, 2034 (2.94%) and Japan Treasury 1.30% due February 1, 2028 (2.53%).
• Under UK Listing Rule 11.7.8, the trust disclosed holdings in other listed closed-ended funds (funds with a fixed number of shares that trade on an exchange) without a stated policy limiting such investments to no more than 15% of total assets: GCP Infrastructure Investments 0.56% and Achilles Investment Company 0.18%, totalling 0.74% of net assets.
• The percentages are calculated using bid prices.

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