Capco Asset Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 6, 2026), Capco Asset Management, LLC reported 28 stock positions worth $408.9 million. Its top holding was Marriott International Class A (MAR) at 18.0% of the portfolio, followed by Markel (MKL, 13.7%) and Roper Technologies (ROP, 12.0%). Compared with Q3 2025, it opened 2 new positions, sold out of 1, added to 5 and reduced 13. The biggest buy was a new position in Liberty Broadband-C (LBRDK) and the biggest sale an exit from Warner Bros Discovery (WBD).
- Most Recent 13F
- Q2 2026
- Location
- TAMPA, FL
- CIK
- 0001698068
- Portfolio Value
- $408.9M (Q4 2025)
- SEC Filing
- 0001698068-26-000002 ↗ filed Feb 6, 2026
Holdings Value
Holdings 28 stocks · $408.9M
| MAR Marriott International Class A | 18.01% | 237,357 | $73.6M | Reduce -1.8% |
| MKL Markel Group Inc. | 13.72% | 26,094 | $56.1M | Reduce -1.7% |
| ROP Roper Technologies Inc. | 11.99% | 110,112 | $49.0M | Add +19.4% |
| PGR Progressive Corp. | 10.81% | 194,173 | $44.2M | Reduce -1.5% |
| MSFT Microsoft Corp. | 8.35% | 70,591 | $34.1M | Reduce -1.8% |
| AMZN Amazon.com Inc. | 7.75% | 137,308 | $31.7M | Reduce -1.6% |
| ADSK Autodesk Inc. | 6.40% | 88,339 | $26.1M | Reduce -1.7% |
| LRCX Lam Research Corp. | 6.26% | 149,560 | $25.6M | Reduce -1.8% |
| BUD Anheuser-Busch Inbev-SPN ADR | 4.72% | 301,100 | $19.3M | Reduce -1.8% |
| LBRDK Liberty Broadband-C | 3.94% | 331,214 | $16.1M | New |
| GOGO Gogo Inc. | 3.25% | 2,848,776 | $13.3M | Reduce -1.5% |
| CHTR Charter Communications Inc. Class A | 2.30% | 45,021 | $9.4M | Reduce -55.4% |
| TEAM Atlassian Corp. Class A | 2.19% | 55,119 | $8.9M | Reduce -0.4% |
| COST Costco Wholesale Corp. | 0.08% | 380 | $328K | No change |
| LSTR Landstar System Inc. | 0.05% | 1,300 | $187K | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.03% | 369 | $112K | Add +29.5% |
| CERT Certara Inc. | 0.02% | 11,469 | $101K | Add +41.6% |
| FIX Comfort Systems USA Inc. | 0.02% | 108 | $101K | No change |
| MNDY Monday.com Ltd. | 0.02% | 577 | $85K | Add +79.8% |
| GOOG Alphabet Inc. Class C | 0.02% | 260 | $82K | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.02% | 113 | $77K | No change |
| WDC Western Digital Corp. | 0.02% | 391 | $67K | Reduce -54.5% |
| META Meta Platforms Inc. Class A | 0.01% | 82 | $54K | Add +9.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.01% | 100 | $50K | No change |
| WDAY Workday Inc. Class A | 0.01% | 186 | $40K | Reduce -53.5% |
| DHR Danaher Corp. | 0.01% | 150 | $34K | New |
| FRPH FRP Holdings Inc. filed as FRP HLDGS INC | 0.00% | 200 | $5K | No change |
| AAPL Apple Inc. | 0.00% | 4 | $1K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −5.28 |
| CHTR Charter Communications Inc. Class A | Reduce -55.4% | 2.30% | −4.18 |
| GOGO Gogo Inc. | Reduce -1.5% | 3.25% | −2.55 |
| PGR Progressive Corp. | Reduce -1.5% | 10.81% | −0.54 |
| MSFT Microsoft Corp. | Reduce -1.8% | 8.35% | −0.33 |
| ADSK Autodesk Inc. | Reduce -1.7% | 6.40% | −0.26 |
| WDAY Workday Inc. Class A | Reduce -53.5% | 0.01% | −0.01 |
| WDC Western Digital Corp. | Reduce -54.5% | 0.02% | −0.01 |
| TEAM Atlassian Corp. Class A | Reduce -0.4% | 2.19% | +0.13 |
| BUD Anheuser-Busch Inbev-SPN ADR | Reduce -1.8% | 4.72% | +0.45 |
| AMZN Amazon.com Inc. | Reduce -1.6% | 7.75% | +0.61 |
| LRCX Lam Research Corp. | Reduce -1.8% | 6.26% | +1.51 |
| MKL Markel Group Inc. | Reduce -1.7% | 13.72% | +1.89 |
| MAR Marriott International Class A | Reduce -1.8% | 18.01% | +3.33 |
Portfolio Buys Q3 2025 → Q4 2025
| LBRDK Liberty Broadband-C | New | 3.94% | +3.94 |
| ROP Roper Technologies Inc. | Add +19.4% | 11.99% | +1.26 |
| TSM Taiwan Semiconductor-SP ADR | Add +29.5% | 0.03% | +0.01 |
| DHR Danaher Corp. | New | 0.01% | +0.01 |
| MNDY Monday.com Ltd. | Add +79.8% | 0.02% | +0.01 |
| CERT Certara Inc. | Add +41.6% | 0.02% | +0.00 |
| META Meta Platforms Inc. Class A | Add +9.3% | 0.01% | +0.00 |
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 |