# Nicolai Tangen — AKO Capital

Portfolio USD 4,292,009,000 · 22 positions · 2026 Q2 · history from 2019 Q1.
Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/AKO

## Positions (2026 Q2)

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

## Moves this quarter (27)

- ALC Alcon Inc.: +3.84% (USD 651,941,000)
- SUNB Sunbelt Rentals Holdings Inc: +90.72% (USD 454,457,000)
- V Visa Inc.: -17% (USD 337,987,000)
- RACE Ferrari NV: -4.33% (USD 328,940,000)
- GE GE Aerospace: -22.61% (USD 288,302,000)
- AMZN Amazon.com Inc.: -34.04% (USD 272,145,000)
- ADI Analog Devices: -40.08% (USD 245,007,000)
- MSFT Microsoft Corp.: -14.55% (USD 234,340,000)
- CSCO Cisco Systems: -35.22% (USD 231,587,000)
- CP Canadian Pacific Kansas City: -11.71% (USD 210,215,000)
- BKNG Booking Holdings Inc.: sold (USD 210,188,311)
- MCO Moody's Corp.: -16.23% (USD 193,814,000)
- APD Air Products & Chemicals: +137.13% (USD 162,234,000)
- FICO Fair Isaac Corp.: -18.55% (USD 123,802,000)
- ICE Intercontinental Exchange Inc.: -46.27% (USD 123,542,000)
- WMB Williams Cos.: -16.32% (USD 110,478,000)
- MA Mastercard Inc.: +22.08% (USD 97,554,000)
- WAT Waters Corp.: -75.11% (USD 76,267,000)
- CSL Carlisle Companies: -4.95% (USD 69,435,000)
- CRM Salesforce.com: sold (USD 66,231,449)
- FLUT Flutter Entertainment Plc: sold (USD 49,652,403)
- MRSH Marsh: sold (USD 45,361,858)
- LIN Linde plc: -51.88% (USD 33,622,000)
- EFX Equifax Inc.: -66.7% (USD 21,338,000)
- CPRT Copart Inc.: +139.57% (USD 18,509,000)
- SYK Stryker Corp.: -91.75% (USD 6,493,000)
- RELX RELX plc: sold (USD 777,034)

## Portfolio value by quarter

- 2019 Q1: USD 3,311,698,253 (19 positions)
- 2019 Q2: USD 3,933,290,026 (21 positions)
- 2019 Q3: USD 4,107,481,509 (21 positions)
- 2019 Q4: USD 4,647,787,584 (21 positions)
- 2020 Q1: USD 4,745,007,045 (25 positions)
- 2020 Q2: USD 5,728,142,435 (24 positions)
- 2020 Q3: USD 6,373,101,336 (25 positions)
- 2020 Q4: USD 7,757,864,472 (26 positions)
- 2021 Q1: USD 8,091,645,758 (27 positions)
- 2021 Q2: USD 8,873,194,812 (26 positions)
- 2021 Q3: USD 9,648,846,331 (25 positions)
- 2021 Q4: USD 10,269,957,090 (24 positions)
- 2022 Q1: USD 9,264,388,272 (25 positions)
- 2022 Q2: USD 7,139,856,028 (25 positions)
- 2022 Q3: USD 6,060,745,434 (24 positions)
- 2022 Q4: USD 6,189,177,381 (23 positions)
- 2023 Q1: USD 6,572,725,786 (24 positions)
- 2023 Q2: USD 6,612,543,928 (24 positions)
- 2023 Q3: USD 6,131,447,538 (27 positions)
- 2023 Q4: USD 7,026,154,339 (29 positions)
- 2024 Q1: USD 7,060,029,443 (27 positions)
- 2024 Q2: USD 7,277,363,978 (26 positions)
- 2024 Q3: USD 7,670,875,390 (25 positions)
- 2024 Q4: USD 7,236,034,340 (27 positions)
- 2025 Q1: USD 7,707,224,627 (26 positions)
- 2025 Q2: USD 7,922,959,515 (25 positions)
- 2025 Q3: USD 7,035,147,038 (23 positions)
- 2025 Q4: USD 6,567,718,141 (22 positions)
- 2026 Q1: USD 5,107,885,113 (27 positions)
- 2026 Q2: USD 4,292,009,000 (22 positions)