Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供参考 · 非买入清单
AKO Capital
quality_growth
D
Reliability improving可靠性走强
leaderboard rank榜单排名 #41WATCH观察
Book持仓规模
$4.3B
long US listed only仅美股多头
Positions持仓数
22
91% resolved已解析
Top-10 concentration前十集中度
76%
% of book占组合%
Turnover换手
LOW
14.0% per quarter每季
Median excess中位超额
-31%
buys vs SPY, since filing买入相对SPY，自披露起 · n 85
Hit rate胜率
21%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: Materials (Equal-Weight) — added APD (+3.8pp of book this quarter)核心倾向：材料（等权） — 本季度加仓 APD（占组合 +3.8pp）
Materials (Equal-Weight)材料（等权）
+3.8pp
4.6% of book held占组合持有
· 2 names标的
· US Sectors (EW)
APD
Payments & Fintech支付与金融科技
+2.3pp
10.1% of book held占组合持有
· 2 names标的
· Financials
MA
Financials (Equal-Weight)金融（等权）
+2.3pp
17.5% of book held占组合持有
· 4 names标的
· US Sectors (EW)
MA
Industrials (Equal-Weight)工业（等权）
+0.4pp
7.7% of book held占组合持有
· 3 names标的
· US Sectors (EW)
CPRT
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新披露的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开披露日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: improving走强 · 13 scored quarters已评分季度 · 8% positive为正 · recent-4 median近4季中位 -3% vs all-time对全期 -39%
Median excess by quarter各季度中位超额: ▁▂▃▄▆▄▅▃▇▇▇█ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-06-30 | 6 | -61% | 17% | +5% |
| 2023-09-30 | 8 | -86% | 12% | +6% |
| 2023-12-31 | 10 | -68% | 10% | -10% |
| 2024-03-31 | 8 | -56% | 12% | -3% |
| 2024-06-30 | 10 | -39% | 30% | -2% |
| 2024-09-30 | 6 | -19% | 17% | +2% |
| 2024-12-31 | 8 | -49% | 12% | +5% |
| 2025-03-31 | 5 | -30% | 20% | -22% |
| 2025-06-30 | 3 | -50% | 0% | -14% |
| 2025-09-30 | 3 | -7% | 33% | -12% |
| 2025-12-31 | 3 | -1% | 33% | -5% |
| 2026-03-31 | 11 | -4% | 36% | +4% |
| 2026-06-30 | 4 | +1% | 50% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新披露；季度环比变化对上季Current weights当前权重 · 2026-06-30
Unclassified
22.9%
▲ +1.3pp
Technology
19.4%
▼ -0.9pp
Financial
17.5%
▼ -1.1pp
Consumer Cyclical
16.9%
▲ +1.7pp
Industrials
14.2%
▲ +1.5pp
Basic Materials
4.6%
▲ +1.9pp
Energy
2.6%
▲ +0.0pp
Healthcare
1.9%
▼ -4.4pp
Theme categories主题类别
US Sectors (EW) 17.7%
AI & Technology 11.8%
Semiconductors & Hardware 11.1%
Financials 10.2%
Industrials & Defense 6.7%
Energy & Power 2.6%
Rotating into (QoQ)轮入（环比）
Basic Materials +1.9pp
Consumer Cyclical +1.7pp
Industrials +1.5pp
Rotating out of (QoQ)轮出（环比）
Healthcare -4.4pp
Financial -1.1pp
Technology -0.9pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-06-30 | Unclassified 23% · Technology 19% · Financial 18% |
| 2026-03-31 | Unclassified 22% · Technology 20% · Financial 19% |
| 2025-12-31 | Unclassified 29% · Technology 23% · Financial 19% |
| 2025-09-30 | Unclassified 29% · Technology 23% · Financial 18% |
| 2025-06-30 | Unclassified 28% · Technology 24% · Financial 18% |
| 2025-03-31 | Unclassified 26% · Technology 24% · Financial 18% |
| 2024-12-31 | Technology 27% · Financial 19% · Unclassified 17% |
| 2024-09-30 | Technology 27% · Financial 18% · Unclassified 18% |
| 2024-06-30 | Technology 29% · Financial 17% · Unclassified 16% |
| 2024-03-31 | Technology 22% · Financial 18% · Unclassified 16% |
| 2023-12-31 | Technology 23% · Unclassified 19% · Financial 17% |
| 2023-09-30 | Technology 24% · Unclassified 19% · Financial 17% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至披露日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。20 positions shown项持仓 · resolved已解析 20/22 (91%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自披露 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  SUNB |
Sunbelt Rentals Holdings Inc | 10.6% | $454M | add | +91% | 2q | 80 · HIGH | Consumer Cyclical | — | -7% |
| 2 |  V |
Visa Inc | 7.9% | $338M | trim | -17% | — | 68 · MODERATE | Financial | Payments & Fintech, Financials (Equal-Weight) | +6% |
| 3 |  GE |
Ge Aerospace | 6.7% | $288M | trim | -23% | — | 66 · MODERATE | Industrials | Defense & Aerospace, Industrials (Equal-Weight) | -12% |
| 4 |  AMZN |
Amazon Com Inc | 6.3% | $272M | trim | -34% | — | 65 · MODERATE | Consumer Cyclical | Magnificent Seven, Consumer Discretionary (Equal-Weight) | -4% |
| 5 |  ADI |
Analog Devices Inc | 5.7% | $245M | trim | -40% | — | 63 · MODERATE | Technology | Non-AI Tech & Hardware, Technology (Equal-Weight) | -4% |
| 6 |  MSFT |
Microsoft Corp | 5.5% | $234M | trim | -15% | — | 61 · MODERATE | Technology | Magnificent Seven, AI Software & Platforms, Quantum Computing | +4% |
| 7 |  CSCO |
Cisco Sys Inc | 5.4% | $232M | trim | -35% | — | 60 · MODERATE | Technology | Non-AI Tech & Hardware, Technology (Equal-Weight) | -8% |
| 8 |  CP |
Canadian Pacific Kansas City | 4.9% | $210M | trim | -12% | — | 58 · MODERATE | Industrials | Rail | -3% |
| 9 |  MCO |
Moodys Corp | 4.5% | $194M | trim | -16% | — | 56 · MODERATE | Financial | Financials (Equal-Weight) | +2% |
| 10 | APD |
Air Products And Chemicals I | 3.8% | $162M | add | +137% | 2q | 54 · MODERATE | Basic Materials | Materials (Equal-Weight) | -3% |
| 11 |  FICO |
Fair Isaac Corp | 2.9% | $124M | trim | -18% | — | 28 · LOW | Technology | Technology (Equal-Weight) | -3% |
| 12 |  ICE |
Intercontinental Exchange In | 2.9% | $124M | trim | -46% | — | 28 · LOW | Financial | Financials (Equal-Weight) | +6% |
| 13 |  WMB |
Williams Cos Inc | 2.6% | $110M | trim | -16% | — | 24 · LOW | Energy | US Energy Complex, Energy (Equal-Weight) | +1% |
| 14 | MA |
Mastercard Incorporated | 2.3% | $98M | add | +22% | 3q | 37 · LOW | Financial | Payments & Fintech, Financials (Equal-Weight) | +4% |
| 15 |  WAT |
Waters Corp | 1.8% | $76M | trim | -75% | — | 20 · LOW | Healthcare | Health Care (Equal-Weight) | -2% |
| 16 |  CSL |
Carlisle Cos Inc | 1.6% | $69M | hold | -5% | — | 19 · LOW | Industrials | — | -11% |
| 17 |  LIN |
Linde Plc | 0.8% | $34M | trim | -52% | — | 17 · LOW | Basic Materials | Materials (Equal-Weight) | -1% |
| 18 |  EFX |
Equifax Inc | 0.5% | $21M | trim | -67% | — | 15 · LOW | Industrials | Industrials (Equal-Weight) | -3% |
| 19 | CPRT |
Copart Inc | 0.4% | $19M | add | +140% | 1q | 18 · LOW | Industrials | Industrials (Equal-Weight) | +4% |
| 20 |  SYK |
Stryker Corporation | 0.1% | $6M | trim | -92% | — | 12 · LOW | Healthcare | Health Care (Equal-Weight) | -17% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本披露周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (4)
| SUNB add |
10.6% | -7% |
| APD add |
3.8% | -3% |
| MA add |
2.3% | +4% |
| CPRT add |
0.4% | +4% |
Rotated out of轮出 (19)
| V trim |
-17% | +6% |
| GE trim |
-23% | -12% |
| AMZN trim |
-34% | -4% |
| ADI trim |
-40% | -4% |
| MSFT trim |
-15% | +4% |
| CSCO trim |
-35% | -8% |
| CP trim |
-12% | -3% |
| MCO trim |
-16% | +2% |
| FICO trim |
-18% | -3% |
| ICE trim |
-46% | +6% |
| WMB trim |
-16% | +1% |
| WAT trim |
-75% | -2% |
| LIN trim |
-52% | -1% |
| EFX trim |
-67% | -3% |
| SYK trim |
-92% | -17% |
 BKNG exit |
-100% | -16% |
 CRM exit |
-100% | +36% |
 MRSH exit |
-100% | -4% |
 RELX exit |
-100% | +0% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以披露日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, reported long positions from managers with at least $100M in Section 13(f) securities. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量披露日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。