# AKO Capital: 13F portfolio, Q2 2026

Investment firm, London.

Source: SEC Form 13F filed 2026-08-12 for the quarter ended 2026-06-30: https://www.sec.gov/Archives/edgar/data/1376879/000137687926000006/0001376879-26-000006-index.htm
Values are as the manager reported them in the filing, not current market prices.
Page: https://valuepeg.com/managers/ako-capital
Updated: 2026-08-12 · Next filing due by 2026-11-14

## Summary
- Reported value: $4.3B (Q1 2026: $5.1B)
- Positions: 22 (Q1 2026: 27)
- Top 10 holdings: 75.8% of the portfolio
- This quarter: 0 new, 5 added to, 17 trimmed, 5 sold out

## What AKO Capital did in Q2 2026
AKO Capital raised its stake in Copart by 140%, Air Products & Chemicals by 137% and Sunbelt Rentals Holdings by 91%. It sold out of 5 positions, among them Booking Holdings, Salesforce and Flutter Entertainment. It cut Stryker by 92%, Waters by 75% and Equifax by 67%, among 4 it cut by half or more. Alcon is still the largest holding, at 15.2% of the portfolio.

## Biggest buys
- Copart (CPRT): +140%
- Air Products & Chemicals (APD): +137%
- Sunbelt Rentals Holdings (SUNB): +91%
- Mastercard (MA): +22%
- Alcon (ALC): +4%

## Biggest sells
- Booking Holdings (BKNG): Sold out
- Salesforce (CRM): Sold out
- Flutter Entertainment (FLUT): Sold out
- Marsh & Mclennan Companies (MRSH): Sold out
- Relx (RELX): Sold out

## Top 15 holdings
| # | Company | Ticker | % of portfolio | Reported value | Change vs Q1 2026 | Held since |
|---|---|---|---|---|---|---|
| 1 | Alcon | ALC | 15.2% | $651.9M | +4% | Q3 2024 or earlier |
| 2 | Sunbelt Rentals Holdings | SUNB | 10.6% | $454.5M | +91% | Q1 2026 |
| 3 | Visa | V | 7.9% | $338.0M | −17% | Q3 2024 or earlier |
| 4 | Ferrari | RACE | 7.7% | $328.9M | −4% | Q3 2024 or earlier |
| 5 | General Electric | GE | 6.7% | $288.3M | −23% | Q3 2024 or earlier |
| 6 | Amazon | AMZN | 6.3% | $272.1M | −34% | Q3 2024 or earlier |
| 7 | Analog Devices | ADI | 5.7% | $245.0M | −40% | Q3 2024 or earlier |
| 8 | Microsoft | MSFT | 5.5% | $234.3M | −15% | Q3 2024 or earlier |
| 9 | Cisco Systems | CSCO | 5.4% | $231.6M | −35% | Q4 2025 |
| 10 | Canadian Pacific Kansas City | CP | 4.9% | $210.2M | −12% | Q3 2025 |
| 11 | Moodys | MCO | 4.5% | $193.8M | −16% | Q3 2024 or earlier |
| 12 | Air Products & Chemicals | APD | 3.8% | $162.2M | +137% | Q1 2026 |
| 13 | Fair Isaac | FICO | 2.9% | $123.8M | −19% | Q3 2024 or earlier |
| 14 | Intercontinental Exchange | ICE | 2.9% | $123.5M | −46% | Q3 2024 or earlier |
| 15 | Williams Companies | WMB | 2.6% | $110.5M | −16% | Q1 2026 |

7 more positions and every quarter's holdings are on Valuepeg for members: https://valuepeg.com/managers/ako-capital

## Other value investors
- Akre Capital Management: https://valuepeg.com/managers/akre-capital
- Appaloosa (David Tepper): https://valuepeg.com/managers/appaloosa
- Aquamarine: https://valuepeg.com/managers/aquamarine
- Atlantic Investment Management: https://valuepeg.com/managers/atlantic-investment-management
- Baupost Group (Seth Klarman): https://valuepeg.com/managers/baupost-group

## About this data
- **What is a 13F?** A quarterly report to the SEC in which an investment manager with over $100 million in US-listed stocks lists what it holds.
- **How current is it?** Managers file up to 45 days after each quarter ends, so the holdings may have changed since.
- **Whose figures are these?** The values are as the manager reported them in the filing, not today's prices. The SEC lets a manager keep some positions confidential for a time, and those are not in the filing.
- **What does it leave out?** Short positions, cash, bonds and most holdings outside US markets. Options are left out here too.

Not investment advice.