BLS CAPITAL FONDSMAEGLERSELSKAB A/S
Long book
$2.94B
Q1 2026
Positions
11
Top-10 weight
95%
concentration
Last quarter
-0.7%
SPY +14.8%
Turnover
23%
of book per quarter
Strategy in plain words
auto-generated from filingsBLS CAPITAL FONDSMAEGLERSELSKAB A/S is a concentrated fundamental stock-picker, running a $2.94B US long book across 11 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: YUM CHINA HOLDINGS INC, S&P GLOBAL INC, OTIS WORLDWIDE CORP, AUTOZONE INC, AUTOMATIC DATA PROCESSING.
Over the last 9 quarters its long book ran on average 4.1pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-8.7%
Q2 2024
+16.5%
Q3 2024
+1.4%
Q4 2024
+6.1%
Q1 2025
-1.9%
Q2 2025
-2.0%
Q3 2025
+0.8%
Q4 2025
-7.9%
Q1 2026
-0.7%
Sector allocation
Services media 34%
Consumer discretionary 29%
Technology 13%
Industrials 12%
Healthcare 8%
Financials 5%
Long book by quarter
What does BLS CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| YUMC YUM CHINA HOLDINGS INC | Consumer discretionary | 11.4M | $554.7M | 18.9% | -8.0% |
| SPGI S&P GLOBAL INC | Services media | 880.6K | $374.6M | 12.8% | +163.5% |
| OTIS OTIS WORLDWIDE CORP | Industrials | 4.4M | $338.2M | 11.5% | -6.2% |
| AZO AUTOZONE INC | Consumer discretionary | 87.7K | $296.1M | 10.1% | +19.5% |
| ADP AUTOMATIC DATA PROCESSING | Technology | 1.2M | $239.4M | 8.2% | +6.2% |
| ZTS ZOETIS INC | Healthcare | 2.0M | $231.2M | 7.9% | -1.1% |
| MCO MOODY'S CORP | Services media | 518.2K | $226.1M | 7.7% | +91.9% |
| MA MASTERCARD INC - A | Services media | 448.7K | $224.2M | 7.6% | +7.5% |
| V VISA INC-CLASS A SHARES | Services media | 590.2K | $178.4M | 6.1% | +28.6% |
| AJG ARTHUR J GALLAGHER & CO | Financials | 647.0K | $140.1M | 4.8% | New |
| CRM SALESFORCE INC | Technology | 720.7K | $134.5M | 4.6% | +33.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 1, 2026 | 11 | $2.94B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 12 | $2.95B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 11 | $2.91B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 11 | $3.10B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 10 | $2.91B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 6, 2025 | 11 | $3.26B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 12 | $3.46B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 13 | $3.34B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 12 | $3.92B | canonical | SEC ↗ |
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