AKO Capital Portfolio holdings
AKO Capital is a London investment partnership that runs long-only and long-short equity funds, founded in 2005 by Nicolai Tangen. Tangen later became chief executive of Norges Bank Investment Management, which manages Norway's sovereign wealth fund. AKO began with European stocks and has also run global equity funds since 2013. It looks for high-quality listed companies and holds them for the long term, using put options to hedge against market falls. Its main owner is the AKO Foundation, a charity, and its investors include endowments, charitable foundations, institutional investors and sovereign wealth funds.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sunbelt Rentals Holdings
SUNB
|
+$217M |
| 2 |
Air Products & Chemicals
APD
|
+$93.1M |
| 3 |
Alcon
ALC
|
+$25.1M |
| 4 |
Mastercard
MA
|
+$17.1M |
| 5 |
Copart
CPRT
|
+$12.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$210M |
| 2 |
Waters Corp
WAT
|
+$209M |
| 3 |
Analog Devices
ADI
|
+$163M |
| 4 |
Amazon
AMZN
|
+$148M |
| 5 |
Intercontinental Exchange
ICE
|
+$130M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 24.75% |
| 2 | Technology | 19.45% |
| 3 | Financials | 17.54% |
| 4 | Healthcare | 17.12% |
| 5 | Consumer Discretionary | 14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
RELX
RELX
$69.6B
| – | – |
-23,447
| Closed | -$777K | – |
|
27
Flutter Entertainment
FLUT
$14.3B
| – | – |
-487,027
| Closed | -$49.7M | – |
|
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AKO Capital's Q2 2026 Portfolio in Review
As of Q2 2026, AKO Capital held 27 positions worth $4.29B, down 16% from $5.11B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
AKO Capital withdrew a net $1.23B in Q2 2026, closing 5 positions and reducing 17 holdings. Its most notable exit was Booking.com, an estimated $210M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 25% of assets, up from 17% a quarter earlier, followed by Technology and Financials.
Against the trend, AKO Capital added an estimated $217M to Sunbelt Rentals Holdings.
- AKO Capital added most to Sunbelt Rentals Holdings in Q2 2026, an estimated $217M increase.
- AKO Capital's biggest Q2 2026 reduction was Waters Corp, cutting an estimated $209M.
- AKO Capital fully exited Booking.com in Q2 2026, selling an estimated $210M.
- AKO Capital's ten largest holdings make up 76% of its $4.29B portfolio in Q2 2026.
- AKO Capital opened 0 new positions and closed 5 in Q2 2026.
- AKO Capital's portfolio value fell 16% quarter-over-quarter to $4.29B.
Based on AKO Capital's 13F filing for Q2 2026, filed 12 Aug 2026.