AKO Capital
Nicolai Tangen (founder)LONDON, X0files as AKO CAPITAL LLP
$4.3bn in 22 US stocks at the end of 30 June 2026. The top 10 are 75.8% of the money. It changed about 17.5% of the portfolio this quarter.
Value
$4.3bn
Stocks
22
Top 10 share
75.8%
Turnover
17.5%
What changed this quarter
New
Bought for the first time this quarter.
None this quarter.
Added
Bought more of a stock they already held.
- AlconALC15.2% of the fund+4%
- Sunbelt Rentals HoldingsSUNB10.6% of the fund+91%
- Air Products & ChemicalsAPD3.8% of the fund+137%
- MastercardMA2.3% of the fund+22%
- CopartCPRT0.4% of the fund+140%
Cut
Sold some of their stake.
- VisaV7.9% of the fund-17%
- FerrariRACE7.7% of the fund-4%
- General ElectricGE6.7% of the fund-23%
- Amazon.comAMZN6.3% of the fund-34%
- Analog DevicesADI5.7% of the fund-40%
- MicrosoftMSFT5.5% of the fund-15%
- Cisco SystemsCSCO5.4% of the fund-35%
- Canadian Pacific Kansas CityCP4.9% of the fund-12%
- Moody'sMCO4.5% of the fund-16%
- Fair IsaacFICO2.9% of the fund-19%
- Intercontinental ExchangeICE2.9% of the fund-46%
- Williams CompaniesWMB2.6% of the fund-16%
- WatersWAT1.8% of the fund-75%
- Carlisle CompaniesCSL1.6% of the fund-5%
- LindeLIN0.8% of the fund-52%
- EquifaxEFX0.5% of the fund-67%
- StrykerSYK0.2% of the fund-92%
Sold out
Sold their entire stake.
- Booking HoldingsBKNG-100%
- SalesforceCRM-100%
- Flutter EntertainmentFLUT-100%
- Marsh & McLennan CompaniesMRSH-100%
- RelxRELX-100%
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| AlconALC | 15.2% | $652m | 9,683,004 | +4% |
| Sunbelt Rentals HoldingsSUNB | 10.6% | $454m | 6,074,817 | +91% |
| VisaV | 7.9% | $338m | 985,126 | -17% |
| FerrariRACE | 7.7% | $329m | 886,360 | -4% |
| General ElectricGE | 6.7% | $288m | 771,417 | -23% |
| Amazon.comAMZN | 6.3% | $272m | 1,141,835 | -34% |
| Analog DevicesADI | 5.7% | $245m | 616,881 | -40% |
| MicrosoftMSFT | 5.5% | $234m | 628,224 | -15% |
| Cisco SystemsCSCO | 5.4% | $232m | 1,971,628 | -35% |
| Canadian Pacific Kansas CityCP | 4.9% | $210m | 2,426,027 | -12% |
| Moody'sMCO | 4.5% | $194m | 427,920 | -16% |
| Air Products & ChemicalsAPD | 3.8% | $162m | 553,359 | +137% |
| Fair IsaacFICO | 2.9% | $124m | 103,619 | -19% |
| Intercontinental ExchangeICE | 2.9% | $124m | 1,003,510 | -46% |
| Williams CompaniesWMB | 2.6% | $110m | 1,486,116 | -16% |
| MastercardMA | 2.3% | $98m | 189,941 | +22% |
| WatersWAT | 1.8% | $76m | 203,356 | -75% |
| Carlisle CompaniesCSL | 1.6% | $69m | 191,414 | -5% |
| LindeLIN | 0.8% | $34m | 64,789 | -52% |
| EquifaxEFX | 0.5% | $21m | 134,439 | -67% |
| CopartCPRT | 0.4% | $19m | 656,567 | +140% |
| StrykerSYK | 0.2% | $6m | 20,624 | -92% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 45.8% since 30 June 2025.
Where the money is
Technology30.0%
Financial services17.5%
Health care17.1%
Industrials14.2%
Retail & consumer14.0%
Materials4.6%
Energy2.6%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.