CIK: 0001698068
Total reported value
$366.6M
Reporting period: 2026-03-31 · Number of holdings: 27
Capco Asset Management, LLC disclosed 27 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $366.6M and a quarterly turnover rate of 22.3%.
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Capco Asset Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.102 — mathematically equivalent to about 10 equally-sized positions, well below its 27 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.35), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.8 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Trim LRCX
-68.9% -$15.7M
Add ROP
+36.5% $4.2M
Trim MAR
-26.1% -$16.3M
Add DHR
+29402.7% $8.4M
Add AMZN
+28.3% $5.0M
Trim 03524a108
-51.6% -$9.2M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MAR | Marriott International -cl A | Stock-Consumer Disc | 15.64% | -2.37% | -26.13% | |
| 2 | ROP | Roper Technologies INC | Stock-Tech | 14.51% | +2.52% | +36.49% | |
| 3 | MKL | Markel Group INC | Stock-Financials | 13.49% | -0.23% | -0.98% | |
| 4 | PGR | Progressive CORP | Stock-Financials | 10.38% | -0.43% | -1.13% | |
| 5 | AMZN | Amazon.com INC | Stock-Consumer Disc | 10.01% | +2.26% | +28.29% | |
| 6 | MSFT | Microsoft CORP | Stock-Tech | 8.48% | +0.13% | +18.93% | |
| 7 | ADSK | Autodesk INC | Stock-Tech | 5.75% | -0.65% | -0.39% | |
| 8 | LBRDK | Liberty Broadband-c | Stock-Comm Services | 4.54% | +0.60% | -0.01% | |
| 9 | TEAM | Atlassian Corp-cl A | Stock-Tech | 3.24% | +1.05% | +215.45% | |
| 10 | ✓ | Gogo INC | Stock-Other | 3.12% | -0.13% | -0.21% | |
| 11 | ✓ | Anheuser-Busch InBev SA/NV | Stock-Other | 2.76% | -1.96% | -51.60% | |
| 12 | LRCX | Lam Research CORP | Stock-Tech | 2.71% | -3.55% | -68.93% | |
| 13 | ✓ | Charter Communications, Inc. | Stock-Other | 2.63% | +0.33% | -0.89% | |
| 14 | DHR | Danaher CORP | Stock-Healthcare | 2.29% | +2.28% | +29402.67% | |
| 15 | ✓ | Costco Wholesale Corporation | Stock-Other | 0.10% | +0.02% | — | |
| 16 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.07% | +0.04% | +118.97% | |
| 17 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.06% | +0.04% | +181.92% | |
| 18 | LSTR | Landstar System INC | Stock-Industrials | 0.06% | +0.01% | — | |
| 19 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.06% | +0.05% | +330.49% | |
| 20 | ✓ | Broadcom Inc. | Stock-Other | 0.03% | +0.03% | NEW | |
| 21 | APO | Apollo Global Management INC | Stock-Financials | 0.03% | +0.03% | NEW | |
| 22 | DORM | Dorman Products INC | Stock-Consumer Disc | 0.02% | +0.02% | NEW | |
| 23 | ✓ | State Street SPDR S&P 500 ETF Trust | ETF-Large Cap & Growth | 0.02% | — | — | |
| 24 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.01% | — | — | |
| 25 | ✓ | Certara INC Common Stock | Stock-Other | 0.01% | -0.01% | -38.31% | |
| 26 | ✓ | Frp Hldgs INC | Stock-Other | — | — | — | |
| 27 | AAPL | Apple INC | Stock-Tech | — | — | — |
Performance for Q3 2026
+4.6%
Performance Last 4 Quarters
+13%
Based on 84% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 27 | $366.6M | 22 | |
| 2025-12-31 | 28 | $408.9M | 25 | |
| 2025-09-30 | 27 | $428.9M | 23 | |
| 2025-06-30 | 27 | $475.4M | 0 | |
| 2025-03-31 | 18 | $422.8M | 100 | |
| 2024-12-31 | 18 | $444.9M | 0 | |
| 2024-09-30 | 18 | $432.7M | 0 | |
| 2024-06-30 | 18 | $422.6M | 0 | |
| 2024-03-31 | 18 | $416.9M | 0 | |
| 2023-12-31 | 17 | $416.7M | 0 | |
| 2023-09-30 | 20 | $385.6M | 0 | |
| 2023-06-30 | 20 | $388.5M | 0 | |
| 2023-03-31 | 20 | $382.3M | 0 | |
| 2022-12-31 | 20 | $354.0M | 0 | |
| 2022-09-30 | 20 | $298.4M | 0 | |
| 2022-06-30 | 23 | $331.3M | 0 | |
| 2022-03-31 | 25 | $387.7M | 0 | |
| 2021-12-31 | 26 | $362.5M | 0 | |
| 2021-09-30 | 27 | $341.3M | 0 | |
| 2021-06-30 | 28 | $341.3M | 100 | |
| 2021-03-31 | 25 | $295.8M | 14 | |
| 2020-12-31 | 25 | $290.1M | 19 | |
| 2020-09-30 | 23 | $251.8M | 25 | |
| 2020-06-30 | 22 | $233.1M | 27 | |
| 2020-03-31 | 22 | $211.0M | 49 | |
| 2019-12-31 | 21 | $220.9M | 17 | |
| 2019-09-30 | 22 | $200.8M | 17 | |
| 2019-06-30 | 20 | $181.0M | 20 | |
| 2019-03-31 | 22 | $173.3M | 13 | |
| 2018-12-31 | 21 | $152.1M | 19 | |
| 2018-09-30 | 23 | $155.9M | 17 | |
| 2018-06-30 | 21 | $141.0M | 9 | |
| 2018-03-31 | 21 | $136.7M | 9 | |
| 2017-12-31 | 19 | $133.4M | 12 | |
| 2017-09-30 | 19 | $120.6M | 10 | |
| 2017-06-30 | 17 | $114.2M | 9 | |
| 2017-03-31 | 17 | $119.6M | 14 | |
| 2016-12-31 | 17 | $109.9M | — |
Capco Asset Management, LLC's most significant position changes for 2026-03-31: New buy: Broadcom Inc.; Sold out: Comfort Systems USA INC (FIX); New buy: Apollo Global Management INC (APO); Sold out: ; New buy: Dorman Products INC (DORM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ROP | Roper Technologies INC | +2.5% | +36.49% | Add |
| 2 | DHR | Danaher CORP | +2.3% | +29402.67% | Add |
| 3 | AMZN | Amazon.com INC | +2.3% | +28.29% | Add |
| 4 | TEAM | Atlassian Corp-cl A | +1.1% | +215.45% | Add |
| 5 | LBRDK | Liberty Broadband-c | +0.6% | -0.01% | Trim |
| 6 | ✓ | Charter Communications, Inc. | +0.3% | -0.89% | Trim |
| 7 | MSFT | Microsoft CORP | +0.1% | +18.93% | Add |
| 8 | META | Meta Platforms Inc-class A | +0.1% | +330.49% | Add |
| 9 | TSM | Taiwan Semiconductor-sp Adr | 0% | +118.97% | Add |
| 10 | GOOG | Alphabet Inc-cl C | 0% | +181.92% | Add |
| 11 | ✓ | Costco Wholesale Corporation | 0% | — | Unchanged |
| 12 | LSTR | Landstar System INC | 0% | — | Unchanged |
| 13 | ✓ | State Street SPDR S&P 500 ETF Trust | — | — | Unchanged |
| 14 | BRK-B | Berkshire Hathaway Inc-cl B | — | — | Unchanged |
| 15 | ✓ | Frp Hldgs INC | — | — | Unchanged |
| 16 | AAPL | Apple INC | — | — | Unchanged |
| 17 | ✓ | Certara INC Common Stock | 0% | -38.31% | Trim |
| 18 | ✓ | Gogo INC | -0.1% | -0.21% | Trim |
| 19 | MKL | Markel Group INC | -0.2% | -0.98% | Trim |
| 20 | PGR | Progressive CORP | -0.4% | -1.13% | Trim |
| 21 | ADSK | Autodesk INC | -0.7% | -0.39% | Trim |
| 22 | ✓ | Anheuser-Busch InBev SA/NV | -2% | -51.60% | Trim |
| 23 | MAR | Marriott International -cl A | -2.4% | -26.13% | Trim |
| 24 | LRCX | Lam Research CORP | -3.6% | -68.93% | Trim |
| 25 | ✓ | Broadcom Inc. | — | NEW | New buy |
| 26 | FIX | Comfort Systems USA INC | — | EXIT | Sold out |
| 27 | APO | Apollo Global Management INC | — | NEW | New buy |
| 28 | ✓ | — | EXIT | Sold out | |
| 29 | DORM | Dorman Products INC | — | NEW | New buy |
| 30 | WDC | Western Digital CORP | — | EXIT | Sold out |
| 31 | ✓ | Workday, Inc. | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-08 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-06 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-12 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-08 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-12 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-11 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-12 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-10 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-07 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-03 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-10 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-10 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-07 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-08 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-06 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-07 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-09 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-07 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-04 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-05 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-06 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-05 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-06 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-08 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-03 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-06 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-06 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-06 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-03 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-06 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-03 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-03 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-20 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
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