CIK: 0001670104
Total reported value
$2.9B
Reporting period: 2026-03-31 · Number of holdings: 11
BLS CAPITAL FONDSMAEGLERSELSKAB A/S disclosed 11 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.9B and a quarterly turnover rate of 33.9%.
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Bls Capital Fondsmaeglerselskab A/s's disclosed holdings carry a Herfindahl concentration index of 0.108 — mathematically equivalent to about 9 equally-sized positions, close to its 11 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.45), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add SPGI
+163.5% $199.9M
Add MCO
+91.9% $88.1M
Trim OTIS
-6.2% -$70.4M
Add AZO
+19.5% $47.2M
Trim ADP
+6.2% -$46.1M
Trim YUMC
-8.0% -$35.7M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | YUMC | Yum China Holdings INC | Stock-Consumer Disc | 18.88% | -1.13% | -8.05% | |
| 2 | SPGI | S&p Global INC | Stock-Financials | 12.75% | +6.83% | +163.53% | |
| 3 | OTIS | Otis Worldwide CORP | Stock-Industrials | 11.51% | -2.34% | -6.21% | |
| 4 | AZO | Autozone INC | Stock-Consumer Disc | 10.08% | +1.65% | +19.46% | |
| 5 | ADP | Automatic Data Processing | Stock-Tech | 8.15% | -1.53% | +6.17% | |
| 6 | ZTS | Zoetis INC | Stock-Healthcare | 7.87% | -0.56% | -1.06% | |
| 7 | MCO | Moody's CORP | Stock-Financials | 7.70% | +3.02% | +91.88% | |
| 8 | MA | Mastercard INC - A | Stock-Financials | 7.63% | -0.44% | +7.52% | |
| 9 | V | Visa Inc-class A Shares | Stock-Financials | 6.07% | +0.62% | +28.64% | |
| 10 | AJG | Arthur J Gallagher & Co | Stock-Financials | 4.77% | +4.77% | NEW | |
| 11 | CRM | Salesforce INC | Stock-Tech | 4.58% | -0.25% | +33.88% |
Performance for Q3 2026
+2.2%
Performance Last 4 Quarters
-1.6%
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 11 | $2.9B | 34 | |
| 2025-12-31 | 12 | $3.0B | 15 | |
| 2025-09-30 | 11 | $2.9B | 19 | |
| 2025-06-30 | 11 | $3.1B | 0 | |
| 2025-03-31 | 10 | $2.9B | 100 | |
| 2024-12-31 | 11 | $3.3B | 0 | |
| 2024-09-30 | 12 | $3.5B | 0 | |
| 2024-06-30 | 13 | $3.3B | 0 | |
| 2024-03-31 | 12 | $3.9B | 0 | |
| 2023-12-31 | 12 | $4.0B | 0 | |
| 2023-09-30 | 13 | $4.0B | 0 | |
| 2023-06-30 | 13 | $4.3B | 0 | |
| 2023-03-31 | 14 | $3.9B | 0 | |
| 2022-12-31 | 13 | $3.5B | 0 | |
| 2022-09-30 | 13 | $2.4B | 0 | |
| 2022-06-30 | 13 | $2.8B | 0 | |
| 2022-03-31 | 12 | $2.7B | 0 | |
| 2021-12-31 | 12 | $2.8B | 0 | |
| 2021-09-30 | 12 | $2.5B | 0 | |
| 2021-06-30 | 11 | $2.5B | 100 | |
| 2021-03-31 | 12 | $2.4B | 31 | |
| 2020-12-31 | 11 | $2.0B | 36 | |
| 2020-09-30 | 12 | $1.8B | 27 | |
| 2020-06-30 | 12 | $1.8B | 36 | |
| 2020-03-31 | 11 | $1.5B | 63 | |
| 2019-12-31 | 11 | $1.4B | 19 | |
| 2019-09-30 | 11 | $1.2B | 25 | |
| 2019-06-30 | 10 | $973.2M | 32 | |
| 2019-03-31 | 9 | $739.1M | 34 | |
| 2018-12-31 | 9 | $616.8M | 38 | |
| 2018-09-30 | 10 | $743.3M | 29 | |
| 2018-06-30 | 12 | $850.2M | 14 | |
| 2018-03-31 | 12 | $780.8M | 28 | |
| 2017-12-31 | 12 | $803.6M | 13 | |
| 2017-09-30 | 12 | $757.4M | 15 | |
| 2017-06-30 | 12 | $682.1M | 36 | |
| 2017-03-31 | 12 | $520.2M | 67 | |
| 2016-12-31 | 13 | $297.2M | 95 | |
| 2016-09-30 | 12 | $263.2M | 25 | |
| 2016-06-30 | 11 | $234.4M | 30 | |
| 2016-03-31 | 11 | $265.0M | 32 | |
| 2015-12-31 | 13 | $240.6M | — |
Bls Capital Fondsmaeglerselskab A/s's most significant position changes for 2026-03-31: Sold out: Hilton Worldwide Holdings In (HLT); New buy: Arthur J Gallagher & Co (AJG); Sold out: Expeditors Intl Wash INC (EXPD); Add: S&p Global INC (SPGI) — shares +163.53%; Add: Moody's CORP (MCO) — shares +91.88%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPGI | S&p Global INC | +6.8% | +163.53% | Add |
| 2 | MCO | Moody's CORP | +3% | +91.88% | Add |
| 3 | AZO | Autozone INC | +1.7% | +19.46% | Add |
| 4 | V | Visa Inc-class A Shares | +0.6% | +28.64% | Add |
| 5 | CRM | Salesforce INC | -0.3% | +33.88% | Add |
| 6 | MA | Mastercard INC - A | -0.4% | +7.52% | Add |
| 7 | ZTS | Zoetis INC | -0.6% | -1.06% | Trim |
| 8 | YUMC | Yum China Holdings INC | -1.1% | -8.05% | Trim |
| 9 | ADP | Automatic Data Processing | -1.5% | +6.17% | Add |
| 10 | OTIS | Otis Worldwide CORP | -2.3% | -6.21% | Trim |
| 11 | HLT | Hilton Worldwide Holdings In | — | EXIT | Sold out |
| 12 | AJG | Arthur J Gallagher & Co | — | NEW | New buy |
| 13 | EXPD | Expeditors Intl Wash INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-01 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-06 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-10 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-12 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-11 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-12 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-12 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-12 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-12 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-09 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-10 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-08 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-09 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-08 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-08 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-12 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-06 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-11 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-11 | Amendment | View on EDGAR |
| 2017-03-31 | 2017-04-28 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-15 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-13 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-10-13 | Amendment | View on EDGAR |
| 2016-06-30 | 2016-07-19 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-07-19 | Amendment | View on EDGAR |
| 2016-03-31 | 2016-04-28 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-06-16 | Amendment | View on EDGAR |
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