Capco Asset Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Capco Asset Management, LLC reported 27 stock positions worth $475.4 million. Its top holding was Marriott International Class A (MAR) at 14.2% of the portfolio, followed by Markel (MKL, 11.4%) and Progressive (PGR, 11.3%). Compared with Q1 2025, it opened 9 new positions, added to 4 and reduced 9. The biggest buy was Roper Technologies (ROP, shares +46%) and the biggest sale Progressive (PGR, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- TAMPA, FL
- CIK
- 0001698068
- Portfolio Value
- $475.4M (Q2 2025)
- SEC Filing
- 0001698068-25-000008 ↗ filed Aug 8, 2025
Holdings Value
Holdings 27 stocks · $475.4M
| MAR Marriott International Class A | 14.17% | 246,543 | $67.4M | Reduce -0.7% |
| MKL Markel Group Inc. | 11.36% | 27,039 | $54.0M | Reduce -0.5% |
| PGR Progressive Corp. | 11.29% | 201,074 | $53.7M | Reduce -20.4% |
| MSFT Microsoft Corp. | 10.23% | 97,749 | $48.6M | Reduce -2.0% |
| GOGO Gogo Inc. | 9.13% | 2,955,589 | $43.4M | Reduce -0.4% |
| CHTR Charter Communications Inc. Class A | 8.81% | 102,465 | $41.9M | Reduce -0.7% |
| WBD Warner Bros Discovery Inc. | 7.09% | 2,941,718 | $33.7M | Add +0.5% |
| AMZN Amazon.com Inc. | 6.58% | 142,511 | $31.3M | Add +1.5% |
| ADSK Autodesk Inc. | 5.99% | 91,932 | $28.5M | Reduce -0.9% |
| BUD Anheuser-Busch Inbev-SPN ADR | 5.83% | 403,003 | $27.7M | Reduce -0.8% |
| LRCX Lam Research Corp. | 5.10% | 249,290 | $24.3M | Reduce -0.2% |
| ROP Roper Technologies Inc. | 4.14% | 34,743 | $19.7M | Add +45.6% |
| COST Costco Wholesale Corp. | 0.08% | 380 | $376K | No change |
| LSTR Landstar System Inc. | 0.04% | 1,300 | $181K | No change |
| META Meta Platforms Inc. Class A | 0.02% | 144 | $106K | New |
| CERT Certara Inc. | 0.02% | 8,862 | $104K | New |
| WDAY Workday Inc. Class A | 0.02% | 400 | $96K | New |
| GOOG Alphabet Inc. Class C | 0.02% | 500 | $89K | New |
| MNDY Monday.com Ltd. | 0.02% | 265 | $83K | New |
| TSM Taiwan Semiconductor-SP ADR | 0.02% | 360 | $82K | New |
| WDC Western Digital Corp. | 0.02% | 1,250 | $80K | New |
| FIX Comfort Systems USA Inc. | 0.02% | 145 | $78K | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.01% | 113 | $70K | Add +413.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.01% | 100 | $49K | No change |
| TEAM Atlassian Corp. Class A | 0.01% | 125 | $25K | New |
| FRPH FRP Holdings Inc. filed as FRP HLDGS INC | 0.00% | 200 | $5K | No change |
| AAPL Apple Inc. | 0.00% | 8 | $2K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| PGR Progressive Corp. | Reduce -20.4% | 11.29% | −5.64 |
| MKL Markel Group Inc. | Reduce -0.5% | 11.36% | −0.66 |
| CHTR Charter Communications Inc. Class A | Reduce -0.7% | 8.81% | −0.19 |
| BUD Anheuser-Busch Inbev-SPN ADR | Reduce -0.8% | 5.83% | −0.09 |
| MAR Marriott International Class A | Reduce -0.7% | 14.17% | +0.18 |
| ADSK Autodesk Inc. | Reduce -0.9% | 5.99% | +0.24 |
| LRCX Lam Research Corp. | Reduce -0.2% | 5.10% | +0.81 |
| MSFT Microsoft Corp. | Reduce -2.0% | 10.23% | +1.37 |
| GOGO Gogo Inc. | Reduce -0.4% | 9.13% | +3.07 |
Portfolio Buys Q1 2025 → Q2 2025
| ROP Roper Technologies Inc. | Add +45.6% | 4.14% | +0.82 |
| AMZN Amazon.com Inc. | Add +1.5% | 6.58% | +0.26 |
| META Meta Platforms Inc. Class A | New | 0.02% | +0.02 |
| CERT Certara Inc. | New | 0.02% | +0.02 |
| WDAY Workday Inc. Class A | New | 0.02% | +0.02 |
| GOOG Alphabet Inc. Class C | New | 0.02% | +0.02 |
| MNDY Monday.com Ltd. | New | 0.02% | +0.02 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.02% | +0.02 |
| WDC Western Digital Corp. | New | 0.02% | +0.02 |
| FIX Comfort Systems USA Inc. | New | 0.02% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +413.6% | 0.01% | +0.01 |
| TEAM Atlassian Corp. Class A | New | 0.01% | +0.01 |
| WBD Warner Bros Discovery Inc. | Add +0.5% | 7.09% | −0.34 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 26 | $365.9M | MAR, ROP, MKL, PGR, AMZN |
| Q1 2026 | 27 | $366.6M | MAR, ROP, MKL, PGR, AMZN |
| Q4 2025 | 28 | $408.9M | MAR, MKL, ROP, PGR, MSFT |
| Q3 2025 | 27 | $428.9M | MAR, MKL, PGR, ROP, MSFT |
| Q2 2025 | 27 | $475.4M | MAR, MKL, PGR, MSFT, GOGO |
| Q1 2025 | 18 | $422.8M | PGR, MAR, MKL, CHTR, MSFT |
| Q4 2024 | 18 | $444.9M | PGR, MAR, MKL, MSFT, CHTR |
| Q3 2024 | 18 | $432.7M | PGR, MAR, MSFT, MKL, CHTR |
| Q2 2024 | 18 | $422.6M | PGR, MAR, MSFT, MKL, CHTR |
| Q1 2024 | 18 | $416.9M | PGR, MAR, MSFT, MKL, CHTR |