London & Capital Asset Management Ltd
Long book
$9.18B
Q1 2026
Positions
223
Top-10 weight
47%
concentration
Last quarter
+16.9%
SPY +14.8%
Turnover
17%
of book per quarter
Strategy in plain words
auto-generated from filingsLondon & Capital Asset Management Ltd is a diversified fundamental manager, running a $9.18B US long book across 223 positions.
The portfolio is moderately concentrated (top 10 ≈ 47% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: AMAZON.COM INC, VISA INC-CLASS A SHARES, MICROSOFT CORP, ALPHABET INC-CL A, FERGUSON ENTERPRISES INC.
Over the last 9 quarters its long book ran on average 0.8pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.7%
Q2 2024
+6.1%
Q3 2024
-2.7%
Q4 2024
-2.0%
Q1 2025
+6.8%
Q2 2025
+7.7%
Q3 2025
+4.9%
Q4 2025
-5.2%
Q1 2026
+16.9%
Sector allocation
Financials 26%
Technology 24%
Consumer discretionary 15%
Industrials 12%
Services media 12%
Other 5%
Materials 3%
Utilities 2%
Long book by quarter
What does London & own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AMZN AMAZON.COM INC | Consumer discretionary | 2.4M | $507.4M | 5.5% | +5.5% |
| V VISA INC-CLASS A SHARES | Services media | 1.5M | $468.0M | 5.1% | +5.0% |
| MSFT MICROSOFT CORP | Technology | 1.2M | $458.1M | 5.0% | +1.9% |
| GOOGL ALPHABET INC-CL A | Technology | 1.5M | $442.7M | 4.8% | -13.6% |
| FERG FERGUSON ENTERPRISES INC | Consumer discretionary | 1.9M | $435.1M | 4.7% | +5.1% |
| CME CME GROUP INC | Financials | 1.5M | $431.2M | 4.7% | +0.1% |
| GEV GE VERNOVA INC | Industrials | 461.2K | $402.6M | 4.4% | -3.9% |
| IBKR INTERACTIVE BROKERS GRO-CL A | Financials | 5.9M | $396.7M | 4.3% | +0.9% |
| GE GENERAL ELECTRIC | Industrials | 1.4M | $392.5M | 4.3% | -0.3% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 793.5K | $390.4M | 4.3% | +0.9% |
| MRSH MARSH & MCLENNAN COS | Financials | 2.0M | $350.9M | 3.8% | +6.5% |
| ICE INTERCONTINENTAL EXCHANGE IN | Financials | 2.2M | $348.7M | 3.8% | +6.5% |
| SNPS SYNOPSYS INC | Technology | 786.8K | $311.9M | 3.4% | +10.0% |
| AMD ADVANCED MICRO DEVICES | Technology | 1.5M | $301.9M | 3.3% | +19.9% |
| YUMC YUM CHINA HOLDINGS INC | Consumer discretionary | 6.2M | $301.2M | 3.3% | -1.7% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 1.6M | $282.7M | 3.1% | +9.5% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 1.1M | $270.3M | 2.9% | -3.1% |
| UNH UNITEDHEALTH GROUP INC | Financials | 880.6K | $238.2M | 2.6% | -6.2% |
| GRAB GRAB HOLDINGS LTD - CL A | Services media | 62.7M | $229.0M | 2.5% | +6509.4% |
| URI UNITED RENTALS INC | Services media | 287.1K | $208.9M | 2.3% | +4.2% |
| VMC VULCAN MATERIALS CO | Materials | 419.6K | $114.3M | 1.2% | +13.7% |
| EXP EAGLE MATERIALS INC | Industrials | 533.0K | $101.1M | 1.1% | New |
| SLB SLB LTD | Energy | 1.7M | $84.8M | 0.9% | -8.8% |
| GOOG ALPHABET INC-CL C | Technology | 295.3K | $84.7M | 0.9% | -12.6% |
| LNG CHENIERE ENERGY INC | Utilities | 257.5K | $73.0M | 0.8% | +21.9% |
| MELI MERCADOLIBRE INC | Services media | 38.9K | $67.2M | 0.7% | +20.8% |
| GEHC GE HEALTHCARE TECHNOLOGY | Healthcare | 925.3K | $65.8M | 0.7% | -23.0% |
| WEC WEC ENERGY GROUP INC | Utilities | 513.7K | $59.5M | 0.6% | +3.7% |
| NEM NEWMONT CORP | Materials | 530.2K | $57.4M | 0.6% | -21.5% |
| QCOM QUALCOMM INC | Technology | 418.3K | $53.8M | 0.6% | -29.1% |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 630.1K | $49.6M | 0.5% | +6.9% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 69.1K | $33.1M | 0.4% | +5.2% |
| ZTS ZOETIS INC | Healthcare | 276.8K | $32.7M | 0.4% | -13.6% |
| PWR QUANTA SERVICES INC | Industrials | 49.0K | $26.9M | 0.3% | -19.6% |
| AAPL APPLE INC | Technology | 99.2K | $25.2M | 0.3% | -10.0% |
| WPM WHEATON PRECIOUS METALS CORP | Materials | 184.8K | $24.2M | 0.3% | Held |
| AXP AMERICAN EXPRESS CO | Financials | 76.9K | $23.3M | 0.3% | -37.7% |
| CCJ CAMECO CORP | Materials | 185.6K | $20.2M | 0.2% | Held |
| AIG AMERICAN INTERNATIONAL GROUP | Financials | 238.7K | $18.0M | 0.2% | -1.0% |
| TPL TEXAS PACIFIC LAND CORP | Financials | 22.0K | $10.4M | 0.1% | Held |
| PCAR PACCAR INC | Industrials | 88.4K | $10.2M | 0.1% | +0.5% |
| ORLY O'REILLY AUTOMOTIVE INC | Consumer discretionary | 87.6K | $8.1M | 0.1% | -82.8% |
| INTU INTUIT INC | Technology | 18.7K | $8.1M | 0.1% | -85.4% |
| KO COCA-COLA CO/THE | Consumer staples | 99.3K | $7.6M | 0.1% | -13.7% |
| MA MASTERCARD INC - A | Services media | 10.2K | $5.1M | 0.1% | -10.8% |
| NVDA NVIDIA CORP | Technology | 27.9K | $4.9M | 0.1% | -8.7% |
| TSLA TESLA INC | Industrials | 11.9K | $4.4M | 0.0% | -0.9% |
| CVX CHEVRON CORP | Energy | 18.0K | $3.7M | 0.0% | +27.1% |
| XOM EXXON MOBIL CORP | Energy | 19.0K | $3.2M | 0.0% | -22.2% |
| JPM JPMORGAN CHASE & CO | Financials | 10.6K | $3.1M | 0.0% | -23.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 223 | $9.18B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 239 | $9.66B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 81 | $1.40B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 96 | $1.32B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 95 | $1.17B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 91 | $1.17B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 83 | $1.26B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 76 | $1.18B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 77 | $1.31B | canonical | SEC ↗ |
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