Capco Asset Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Capco Asset Management, LLC reported 27 stock positions worth $428.9 million. Its top holding was Marriott International Class A (MAR) at 14.7% of the portfolio, followed by Markel (MKL, 11.8%) and Progressive (PGR, 11.4%). Compared with Q2 2025, it added to 3 and reduced 18. The biggest buy was Roper Technologies (ROP, shares +166%) and the biggest sale Gogo (GOGO, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- TAMPA, FL
- CIK
- 0001698068
- Portfolio Value
- $428.9M (Q3 2025)
- SEC Filing
- 0001698068-25-000013 ↗ filed Nov 12, 2025
Holdings Value
Holdings 27 stocks · $428.9M
| MAR Marriott International Class A | 14.68% | 241,732 | $63.0M | Reduce -1.9% |
| MKL Markel Group Inc. | 11.83% | 26,552 | $50.7M | Reduce -1.8% |
| PGR Progressive Corp. | 11.35% | 197,126 | $48.7M | Reduce -2.0% |
| ROP Roper Technologies Inc. | 10.73% | 92,253 | $46.0M | Add +165.5% |
| MSFT Microsoft Corp. | 8.68% | 71,850 | $37.2M | Reduce -26.5% |
| AMZN Amazon.com Inc. | 7.14% | 139,546 | $30.6M | Reduce -2.1% |
| ADSK Autodesk Inc. | 6.66% | 89,897 | $28.6M | Reduce -2.2% |
| CHTR Charter Communications Inc. Class A | 6.47% | 100,932 | $27.8M | Reduce -1.5% |
| GOGO Gogo Inc. | 5.80% | 2,893,373 | $24.9M | Reduce -2.1% |
| WBD Warner Bros Discovery Inc. | 5.28% | 1,160,143 | $22.7M | Reduce -60.6% |
| LRCX Lam Research Corp. | 4.75% | 152,219 | $20.4M | Reduce -38.9% |
| BUD Anheuser-Busch Inbev-SPN ADR | 4.26% | 306,625 | $18.3M | Reduce -23.9% |
| TEAM Atlassian Corp. Class A | 2.06% | 55,334 | $8.8M | Add +44167.2% |
| COST Costco Wholesale Corp. | 0.08% | 380 | $352K | No change |
| LSTR Landstar System Inc. | 0.04% | 1,300 | $159K | No change |
| WDC Western Digital Corp. | 0.02% | 860 | $103K | Reduce -31.2% |
| CERT Certara Inc. | 0.02% | 8,102 | $99K | Reduce -8.6% |
| WDAY Workday Inc. Class A | 0.02% | 400 | $96K | No change |
| FIX Comfort Systems USA Inc. | 0.02% | 108 | $89K | Reduce -25.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.02% | 285 | $80K | Reduce -20.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.02% | 113 | $75K | No change |
| GOOG Alphabet Inc. Class C | 0.01% | 260 | $63K | Reduce -48.0% |
| MNDY Monday.com Ltd. | 0.01% | 321 | $62K | Add +21.1% |
| META Meta Platforms Inc. Class A | 0.01% | 75 | $55K | Reduce -47.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.01% | 100 | $50K | No change |
| FRPH FRP Holdings Inc. filed as FRP HLDGS INC | 0.00% | 200 | $5K | No change |
| AAPL Apple Inc. | 0.00% | 4 | $1K | Reduce -50.0% |
Portfolio Sells Q2 2025 → Q3 2025
| GOGO Gogo Inc. | Reduce -2.1% | 5.80% | −3.33 |
| CHTR Charter Communications Inc. Class A | Reduce -1.5% | 6.47% | −2.34 |
| WBD Warner Bros Discovery Inc. | Reduce -60.6% | 5.28% | −1.81 |
| BUD Anheuser-Busch Inbev-SPN ADR | Reduce -23.9% | 4.26% | −1.56 |
| MSFT Microsoft Corp. | Reduce -26.5% | 8.68% | −1.55 |
| LRCX Lam Research Corp. | Reduce -38.9% | 4.75% | −0.35 |
| META Meta Platforms Inc. Class A | Reduce -47.9% | 0.01% | −0.01 |
| GOOG Alphabet Inc. Class C | Reduce -48.0% | 0.01% | −0.00 |
| AAPL Apple Inc. | Reduce -50.0% | 0.00% | −0.00 |
| CERT Certara Inc. | Reduce -8.6% | 0.02% | +0.00 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -20.8% | 0.02% | +0.00 |
| FIX Comfort Systems USA Inc. | Reduce -25.5% | 0.02% | +0.00 |
| WDC Western Digital Corp. | Reduce -31.2% | 0.02% | +0.01 |
| PGR Progressive Corp. | Reduce -2.0% | 11.35% | +0.06 |
| MKL Markel Group Inc. | Reduce -1.8% | 11.83% | +0.47 |
| MAR Marriott International Class A | Reduce -1.9% | 14.68% | +0.51 |
| AMZN Amazon.com Inc. | Reduce -2.1% | 7.14% | +0.57 |
| ADSK Autodesk Inc. | Reduce -2.2% | 6.66% | +0.67 |
Portfolio Buys Q2 2025 → Q3 2025
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 |