AKO Capital

Q1 2026 13F · by Patrick Hargreaves, CEO

As of: Mar 31, 2026
Filed: May 15, 2026
US stock: $5.1B · prev $6.6B
Positions: 27 · prev 22
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves28 since the prior filing

+17.9 pp in · −17.9 pp out

New 6 +10.87 pp
Added 7 +7.03 pp
Trimmed 14 −15.49 pp
Exited 1 −2.41 pp

The book

Concentrated · behaves like 17 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 66% a year, about 1.5 years per position

Low
Moderate
High

Top 5 positions40% of US stock

Positions27 in this filing · 1 exited


ALCAlcon Inc.	13.62%	9,324,656	$696M	added+21%	+4.34 pp	28 q
AMZNAmazon.Com Inc	7.06%	1,731,170	$361M	trimmed−0%	+0.95 pp	8 q
VVISA Inc.	7.02%	1,186,931	$359M	trimmed−17%	−0.66 pp	31 q
ADIAnalog Devices, Inc.	6.41%	1,029,523	$328M	trimmed−18%	+1.26 pp	9 q
RACEFerrari N.V.	6.08%	926,523	$311M	trimmed−2%	+0.73 pp	31 q
ICEIntercontinental Exchange Inc.	5.75%	1,867,549	$294M	trimmed−10%	+0.61 pp	23 q
GEGE Aerospace	5.54%	996,847	$283M	trimmed−10%	+0.34 pp	11 q
MSFTMicrosoft Corp	5.33%	735,214	$272M	trimmed−28%	−2.19 pp	15 q
WATWaters Corp	4.76%	816,929	$243M	added+8%	+0.40 pp	11 q
CSCOCisco Systems, Inc. (DE)	4.62%	3,043,637	$236M	trimmed−2%	+0.97 pp	2 q
MCOMoody's Corporation	4.36%	510,824	$223M	trimmed−31%	−1.37 pp	31 q
CPCanadian Pacific Kansas City Limited	4.23%	2,747,795	$216M	trimmed−7%	+0.91 pp	3 q
BKNGBooking Holdings Inc.	4.11%	49,923	$210M	added+17%	+0.62 pp	25 q
SUNBSunbelt Rentals Holdings, Inc.	4.06%	3,185,284	$207M	new	+4.06 pp	new
FICOFair Isaac Corporation	2.66%	127,212	$136M	added+13%	−0.24 pp	31 q
WMBWilliams Companies Inc.	2.53%	1,775,909	$129M	new	+2.53 pp	new
SYKStryker Corporation	1.61%	249,883	$82M	new	+1.61 pp	new
MAMastercard Incorporated	1.52%	155,592	$78M	added+55%	+0.65 pp	2 q
EFXEquifax, Incorporated	1.42%	403,774	$73M	trimmed−47%	−1.11 pp	21 q
APDAir Products & Chemicals, Inc.	1.33%	233,356	$68M	new	+1.33 pp	new
CSLCarlisle Companies, Inc.	1.32%	201,377	$67M	new	+1.32 pp	new
LINLinde plc	1.31%	134,631	$67M	added×10.0	+1.22 pp	12 q
CRMSalesforce, Inc.	1.30%	354,805	$66M	added+14%	+0.04 pp	5 q
FLUTFlutter Entertainment plc	0.97%	487,027	$50M	trimmed−84%	−9.23 pp	5 q
MRSHMarsh	0.89%	261,527	$45M	trimmed−82%	−3.30 pp	12 q
CPRTCopart Inc	0.18%	274,058	$9M	trimmed−95%	−3.40 pp	13 q
RELXRelx PLC	0.02%	23,447	$777,000	new	+0.02 pp	new
INTUIntuit Inc	—	−238,876	—	exited	−2.41 pp	—