# Capco Asset Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1698068. Source: https://holderbook.com/funds/1698068-capco-asset-management-llc/

- Reported value: $365.9M
- Positions: 26
- Weight of the ten largest: 90.1%
- Filed: 2026-08-05

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $63.8M | 172,034 | 17.4% | 31 |
| ROPER TECHNOLOGIES INC | [ROP](https://holderbook.com/stocks/ROP/) | $50.0M | 147,619 | 13.7% | 31 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $49.5M | 25,322 | 13.5% | 21 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $41.6M | 190,253 | 11.4% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $41.2M | 173,009 | 11.3% | 26 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $30.9M | 82,756 | 8.4% | 31 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $16.8M | 86,494 | 4.6% | 28 |
| ATLASSIAN CORPORATION | [TEAM](https://holderbook.com/stocks/TEAM/) | $13.2M | 169,604 | 3.6% | 5 |
| ANHEUSER BUSCH INBEV SA/NV | [BUD](https://holderbook.com/stocks/BUD/) | $11.8M | 143,187 | 3.2% | 31 |
| LIBERTY BROADBAND CORP | [LBRDK](https://holderbook.com/stocks/LBRDK/) | $11.0M | 331,875 | 3.0% | 3 |
| GOGO INC | [GOGO](https://holderbook.com/stocks/GOGO/) | $8.7M | 2,818,662 | 2.4% | 18 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $8.6M | 17,140 | 2.3% | 31 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $8.5M | 44,530 | 2.3% | 3 |
| CHARTER COMMUNICATIONS INC | [CHTR](https://holderbook.com/stocks/CHTR/) | $6.0M | 42,349 | 1.6% | 26 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $2.4M | 5,486 | 0.6% | 8 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $385.9K | 808 | 0.1% | 5 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $355.5K | 380 | 0.1% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $339.1K | 602 | 0.1% | 5 |
| LANDSTAR SYS INC | [LSTR](https://holderbook.com/stocks/LSTR/) | $268.9K | 1,300 | 0.1% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $215.2K | 609 | 0.1% | 5 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $168.1K | 445 | 0.0% | 2 |
| DORMAN PRODS INC | [DORM](https://holderbook.com/stocks/DORM/) | $105.3K | 772 | 0.0% | 2 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $98.1K | 829 | 0.0% | 2 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $84.4K | 113 | 0.0% | 10 |
| FRP HLDGS INC | [FRPH](https://holderbook.com/stocks/FRPH/) | $5.0K | 200 | 0.0% | 23 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.2K | 4 | 0.0% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +3.9% | +14.8% | -10.9% | 100% |
| Q1 2026 | -7.9% | -4.6% | -3.2% | 100% |
| Q4 2025 | +1.6% | +2.4% | -0.8% | 100% |
| Q3 2025 | -2.4% | +7.8% | -10.2% | 100% |
| Q2 2025 | +14.6% | +10.5% | +4.1% | 100% |
| Q1 2025 | +1.6% | -4.6% | +6.2% | 100% |
| Q4 2024 | +3.4% | +2.1% | +1.2% | 100% |
| Q3 2024 | +3.0% | +5.4% | -2.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $365.9M | 26 |
| Q1 2026 | $366.6M | 27 |
| Q4 2025 | $408.9M | 28 |
| Q3 2025 | $428.9M | 27 |
| Q2 2025 | $475.4M | 27 |
| Q1 2025 | $422.8M | 18 |
| Q4 2024 | $444.9M | 18 |
| Q3 2024 | $432.7M | 18 |
| Q2 2024 | $422.6M | 18 |
| Q1 2024 | $416.9M | 18 |
| Q4 2023 | $416.7M | 17 |
| Q3 2023 | $385.6M | 20 |