Cantillon Capital

Q1 2025 13F · by William von Mueffling, CEO

As of: Mar 31, 2025
Filed: Feb 17, 2026
US stock: $15.4B · prev $16.5B
Positions: 37 · prev 36
Options notional: $0
Documents: 1· 1 amendment

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%

Moves37 since the prior filing

+2.3 pp in · −2.2 pp out

New 1 +0.90 pp
Added 2 +1.36 pp
Trimmed 34 −2.24 pp
Exited 0 0.00 pp

The book

Focused · behaves like 30 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 7.8% a year, about 12.8 years per position

Low
Moderate
High

Top 5 positions26% of US stock

Revealed late, restated

restated 18 rows corrected by the filer · US stock −23.43%; later quarters recomputed 13F-HR/A · Feb 17, 2026 ↗

Positions37 in this filing · 0 exited


AVGOBroadcom Inc.	6.84%	6,306,874	$1.1B	trimmed−14%	−3.49 pp	28 q
SPGIS&P Global Inc.	5.96%	1,812,764	$921M	trimmed−3%	+0.34 pp	36 q
VVISA Inc.	4.57%	2,012,972	$705M	trimmed−3%	+0.61 pp	38 q
GOOGLAlphabet Inc. Class A	4.36%	4,352,428	$673M	trimmed−3%	−0.77 pp	38 q
CBRECbre Group, Inc.	3.90%	4,605,765	$602M	trimmed−3%	+0.13 pp	37 q
ICEIntercontinental Exchange Inc.	3.85%	3,446,696	$595M	trimmed−3%	+0.65 pp	42 q
IBKRInteractive Brokers Group, Inc. Class A	3.53%	3,293,826	$545M	trimmed−3%	−0.10 pp	32 q
FLUTFlutter Entertainment plc	3.35%	2,337,798	$518M	trimmed−3%	−0.41 pp	4 q
AONAon plc Class A	3.32%	1,283,548	$512M	trimmed−3%	+0.45 pp	20 q
MSFTMicrosoft Corp	3.17%	1,303,090	$489M	trimmed−3%	−0.25 pp	21 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	3.14%	2,921,336	$485M	trimmed−3%	−0.45 pp	31 q
ADIAnalog Devices, Inc.	2.92%	2,239,461	$452M	trimmed−3%	−0.05 pp	48 q
TMOThermo Fisher Scientific, Inc.	2.91%	901,773	$449M	trimmed−3%	−0.01 pp	27 q
AMATApplied Materials Inc	2.89%	3,070,430	$446M	trimmed−3%	−0.22 pp	21 q
BLKBlackrock, Inc.	2.87%	467,854	$443M	trimmed−3%	−0.13 pp	2 q
EFXEquifax, Incorporated	2.81%	1,780,067	$434M	trimmed−3%	−0.02 pp	34 q
CMECME Group Inc.	2.79%	1,624,206	$431M	trimmed−3%	+0.44 pp	42 q
AMTAmerican Tower Corporation	2.66%	1,889,190	$411M	trimmed−3%	+0.50 pp	37 q
UBERUber Technologies, Inc.	2.50%	5,308,459	$387M	added+31%	+1.03 pp	4 q
AAgilent Technologies Inc.	2.44%	3,217,069	$376M	trimmed−3%	−0.25 pp	38 q
LYVLive Nation Entertainment Inc.	2.44%	2,888,072	$377M	trimmed−3%	+0.11 pp	8 q
FASTFastenal Co	2.40%	4,784,048	$371M	trimmed−3%	+0.26 pp	28 q
SSNCSS&C Technologies Inc	2.38%	4,397,147	$367M	trimmed−3%	+0.30 pp	35 q
IQVIQVIA Holdings Inc.	2.29%	2,004,434	$353M	trimmed−3%	−0.16 pp	17 q
FERGFerguson Enterprises Inc.	2.13%	2,049,411	$328M	trimmed−3%	−0.09 pp	3 q
ADBEAdobe Inc.	1.98%	796,886	$306M	added+30%	+0.33 pp	12 q
YUMYum! Brands, Inc.	1.86%	1,824,564	$287M	trimmed−3%	+0.34 pp	5 q
ECLEcolab, Inc.	1.85%	1,127,076	$286M	trimmed−3%	+0.20 pp	48 q
TMETencent Music Entertainment Group	1.80%	19,240,319	$277M	trimmed−12%	+0.30 pp	4 q
CPCanadian Pacific Kansas City Limited	1.64%	3,613,392	$254M	trimmed−3%	+0.01 pp	7 q
TCOMTrip.com Group Limited	1.47%	3,576,813	$227M	trimmed−25%	−0.50 pp	4 q
ENTGEntegris Inc	1.44%	2,538,175	$222M	trimmed−3%	−0.13 pp	23 q
MCOMoody's Corporation	1.39%	459,857	$214M	trimmed−3%	+0.03 pp	26 q
ZTSZoetis Inc.	1.34%	1,254,465	$207M	trimmed−3%	+0.07 pp	38 q
TWTradeweb Markets Inc. Class A	1.12%	1,163,200	$173M	trimmed−3%	+0.17 pp	8 q
ALCAlcon Inc.	0.90%	1,464,533	$139M	new	+0.90 pp	new
ORCLOracle Corp	0.80%	888,795	$124M	trimmed−3%	−0.12 pp	5 q