Capco Asset Management, LLC
Long book
$366.6M
Q1 2026
Positions
27
Top-10 weight
89%
concentration
Last quarter
+6.6%
SPY +14.8%
Turnover
23%
of book per quarter
Strategy in plain words
auto-generated from filingsCapco Asset Management, LLC is a concentrated fundamental stock-picker, running a $366.6M US long book across 27 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: MARRIOTT INTERNATIONAL -CL A, ROPER TECHNOLOGIES INC, MARKEL GROUP INC, PROGRESSIVE CORP, AMAZON.COM INC.
Over the last 9 quarters its long book ran on average 1.9pp per quarter behind the S&P 500, beating the index in 3 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
+0.8%
Q2 2024
+3.1%
Q3 2024
+3.4%
Q4 2024
+2.1%
Q1 2025
+14.8%
Q2 2025
-2.3%
Q3 2025
+1.6%
Q4 2025
-7.2%
Q1 2026
+6.6%
Sector allocation
Technology 35%
Financials 25%
Services media 16%
Communications 11%
Consumer discretionary 10%
Industrials 3%
Real estate 0%
Long book by quarter
What does Capco Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MAR MARRIOTT INTERNATIONAL -CL A | Services media | 175.3K | $57.3M | 15.6% | -26.1% |
| ROP ROPER TECHNOLOGIES INC | Technology | 150.3K | $53.2M | 14.5% | +36.5% |
| MKL MARKEL GROUP INC | Financials | 25.8K | $49.5M | 13.5% | -1.0% |
| PGR PROGRESSIVE CORP | Financials | 192.0K | $38.1M | 10.4% | -1.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 176.2K | $36.7M | 10.0% | +28.3% |
| MSFT MICROSOFT CORP | Technology | 84.0K | $31.1M | 8.5% | +18.9% |
| ADSK AUTODESK INC | Technology | 88.0K | $21.1M | 5.7% | -0.4% |
| LBRDK LIBERTY BROADBAND-C | Communications | 331.2K | $16.7M | 4.5% | 0.0% |
| TEAM ATLASSIAN CORP-CL A | Technology | 173.9K | $11.9M | 3.2% | +215.4% |
| GOGO GOGO INC | Communications | 2.8M | $11.4M | 3.1% | -0.2% |
| LRCX LAM RESEARCH CORP | Industrials | 46.5K | $9.9M | 2.7% | -68.9% |
| CHTR CHARTER COMMUNICATIONS INC-A | Communications | 44.6K | $9.6M | 2.6% | -0.9% |
| DHR DANAHER CORP | Technology | 44.3K | $8.4M | 2.3% | +29402.7% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 380 | $379K | 0.1% | Held |
| GOOG ALPHABET INC-CL C | Technology | 733 | $210K | 0.1% | +181.9% |
| LSTR LANDSTAR SYSTEM INC | Industrials | 1.3K | $208K | 0.1% | Held |
| META META PLATFORMS INC-CLASS A | Technology | 353 | $202K | 0.1% | +330.5% |
| AVGO BROADCOM INC | Technology | 389 | $120K | 0.0% | New |
| APO APOLLO GLOBAL MANAGEMENT INC | Financials | 829 | $92K | 0.0% | New |
| DORM DORMAN PRODUCTS INC | Industrials | 772 | $81K | 0.0% | New |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 100 | $48K | 0.0% | Held |
| CERT CERTARA INC | Technology | 7.1K | $40K | 0.0% | -38.3% |
| FRPH FRP HOLDINGS INC | Real estate | 200 | $4K | 0.0% | Held |
| AAPL APPLE INC | Technology | 4 | $1K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 8, 2026 | 27 | $366.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 6, 2026 | 28 | $408.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 27 | $428.9M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 8, 2025 | 27 | $475.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 18 | $422.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 18 | $444.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 18 | $432.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 12, 2024 | 18 | $422.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 18 | $416.9M | canonical | SEC ↗ |
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