Nicolai Tangen, AKO Capital

Portfolio USD 4,292,009,000 across 22 positions as of 2026 Q2; history from 2019 Q1. Source: quarterly 13F filings via dataroma.com.

Positions, 2026 Q2

• ALC Alcon Inc.: 15% of portfolio, USD 651,941,000, add +3.84%
• SUNB Sunbelt Rentals Holdings Inc: 11% of portfolio, USD 454,457,000, add +90.72%
• V Visa Inc.: 7.9% of portfolio, USD 337,987,000, reduce -17%
• RACE Ferrari NV: 7.7% of portfolio, USD 328,940,000, reduce -4.33%
• GE GE Aerospace: 6.7% of portfolio, USD 288,302,000, reduce -22.61%
• AMZN Amazon.com Inc.: 6.3% of portfolio, USD 272,145,000, reduce -34.04%
• ADI Analog Devices: 5.7% of portfolio, USD 245,007,000, reduce -40.08%
• MSFT Microsoft Corp.: 5.5% of portfolio, USD 234,340,000, reduce -14.55%
• CSCO Cisco Systems: 5.4% of portfolio, USD 231,587,000, reduce -35.22%
• CP Canadian Pacific Kansas City: 4.9% of portfolio, USD 210,215,000, reduce -11.71%
• MCO Moody's Corp.: 4.5% of portfolio, USD 193,814,000, reduce -16.23%
• APD Air Products & Chemicals: 3.8% of portfolio, USD 162,234,000, add +137.13%
• FICO Fair Isaac Corp.: 2.9% of portfolio, USD 123,802,000, reduce -18.55%
• ICE Intercontinental Exchange Inc.: 2.9% of portfolio, USD 123,542,000, reduce -46.27%
• WMB Williams Cos.: 2.6% of portfolio, USD 110,478,000, reduce -16.32%
• MA Mastercard Inc.: 2.3% of portfolio, USD 97,554,000, add +22.08%
• WAT Waters Corp.: 1.8% of portfolio, USD 76,267,000, reduce -75.11%
• CSL Carlisle Companies: 1.6% of portfolio, USD 69,435,000, reduce -4.95%
• LIN Linde plc: 0.8% of portfolio, USD 33,622,000, reduce -51.88%
• EFX Equifax Inc.: 0.5% of portfolio, USD 21,338,000, reduce -66.7%
• CPRT Copart Inc.: 0.4% of portfolio, USD 18,509,000, add +139.57%
• SYK Stryker Corp.: 0.2% of portfolio, USD 6,493,000, reduce -91.75%

Portfolio value, all published quarters

• 2019 Q1: USD 3,311,698,253
• 2019 Q2: USD 3,933,290,026
• 2019 Q3: USD 4,107,481,509
• 2019 Q4: USD 4,647,787,584
• 2020 Q1: USD 4,745,007,045
• 2020 Q2: USD 5,728,142,435
• 2020 Q3: USD 6,373,101,336
• 2020 Q4: USD 7,757,864,472
• 2021 Q1: USD 8,091,645,758
• 2021 Q2: USD 8,873,194,812
• 2021 Q3: USD 9,648,846,331
• 2021 Q4: USD 10,269,957,090
• 2022 Q1: USD 9,264,388,272
• 2022 Q2: USD 7,139,856,028
• 2022 Q3: USD 6,060,745,434
• 2022 Q4: USD 6,189,177,381
• 2023 Q1: USD 6,572,725,786
• 2023 Q2: USD 6,612,543,928
• 2023 Q3: USD 6,131,447,538
• 2023 Q4: USD 7,026,154,339
• 2024 Q1: USD 7,060,029,443
• 2024 Q2: USD 7,277,363,978
• 2024 Q3: USD 7,670,875,390
• 2024 Q4: USD 7,236,034,340
• 2025 Q1: USD 7,707,224,627
• 2025 Q2: USD 7,922,959,515
• 2025 Q3: USD 7,035,147,038
• 2025 Q4: USD 6,567,718,141
• 2026 Q1: USD 5,107,885,113
• 2026 Q2: USD 4,292,009,000