Ilex Capital Partners (UK) LLP

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Ilex Capital Partners (UK) LLP reported 189 stock positions worth $2.4 billion. Its top holding was JM Smucker (SJM) at 7.5% of the portfolio, followed by Monster Beverage (MNST, 6.7%) and Coca-Cola (KO, 5.6%). Compared with Q4 2024, it opened 174 new positions, sold out of 16, added to 10 and reduced 5. The biggest buy was a new position in Flutter Entertainment PLC-Di (FLUT) and the biggest sale Kimberly-Clark (KMB, shares −100%).

Most Recent 13F
Q2 2026
Location
London, X0
CIK
0001985486
Portfolio Value
$2.4B (Q1 2025)
SEC Filing
0001172661-25-002303 ↗ filed May 15, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $1.0B Q1 2024 Q2 2024: $975.9M Q2 2024 Q3 2024: $1.5B Q3 2024 Q4 2024: $1.6B Q4 2024 Q1 2025: $2.4B $2.4B Q1 2025 Q2 2025: $3.0B Q2 2025 Q3 2025: $3.1B Q3 2025 Q4 2025: $3.5B Q4 2025 Q1 2026: $4.1B Q1 2026 Q2 2026: $4.9B Q2 2026

Holdings 189 stocks · $2.4B
SJM The JM Smucker Co. filed as SMUCKER J M CO 7.51% 1,551,955 $183.8M Add +61.8%
MNST Monster Beverage Corp. 6.69% 2,793,825 $163.5M Add +388.4%
KO The Coca-Cola Co. 5.63% 1,921,572 $137.6M Reduce -1.5%
APD Air Products & Chemicals Inc. 5.44% 450,808 $133.0M Add +96.9%
FLUT Flutter Entertainment PLC-Di 5.18% 571,530 $126.6M New
MKC McCormick & Co.-Non VTG SHRS 3.80% 1,127,883 $92.8M New
RACE Ferrari NV 3.37% 194,474 $82.4M New
SHW The Sherwin-Williams Co. 3.24% 226,617 $79.1M Add +83.0%
RPM RPM International Inc. 3.22% 681,189 $78.8M New
NTR Nutrien Ltd. 3.14% 1,545,755 $76.8M New
MDLZ Mondelez International Inc. Class A 3.10% 1,116,932 $75.8M New
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 3.02% 945,893 $73.9M Add +501.8%
WLK Westlake Corp. 2.86% 699,007 $69.9M Add +359.8%
CCI Crown Castle Inc. 2.79% 655,055 $68.3M Add +77.7%
ESI Element Solutions Inc. 2.66% 2,879,034 $65.1M Add +77.1%
ONON On Holding AG Class A filed as ON HLDG AG 2.49% 1,385,465 $60.8M New
KDP Keurig Dr Pepper Inc. 2.38% 1,702,582 $58.3M New
DD Dupont DE Nemours Inc. 2.26% 740,958 $55.3M Add +38.2%
LBTYK Liberty Global Ltd. Class C 2.09% 4,271,880 $51.1M New
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 2.02% 747,782 $49.4M New
PM Philip Morris International 1.97% 302,785 $48.1M New
CTVA Corteva Inc. 1.91% 742,952 $46.8M New
HUN Huntsman Corp. 1.87% 2,900,632 $45.8M New
MOS The Mosaic Co. 1.60% 1,447,471 $39.1M Add +669.9%
FRPT Freshpet Inc. 1.53% 451,227 $37.5M New
ELF Elf Beauty Inc. 1.29% 502,830 $31.6M New
DOW Dow Inc. 0.90% 633,050 $22.1M New
CAG Conagra Brands Inc. 0.76% 692,917 $18.5M Reduce -86.1%
DB Deutsche Bank AG-Registered 0.71% 731,925 $17.3M New
BG Bunge Global SA 0.58% 184,337 $14.1M Reduce -78.6%
CHD Church & Dwight Co. Inc. 0.57% 125,696 $13.8M New
SARO Standardaero Inc. 0.28% 252,891 $6.7M New
O Realty Income Corp. 0.17% 73,372 $4.3M New
FE Firstenergy Corp. 0.17% 103,300 $4.2M New
VZ Verizon Communications Inc. 0.16% 85,445 $3.9M New
PNW Pinnacle West Capital 0.15% 39,252 $3.7M New
CVX Chevron Corp. 0.15% 22,325 $3.7M New
AWK American Water Works Co. Inc. 0.15% 25,155 $3.7M New
ADC Agree Realty Corp. 0.15% 47,805 $3.7M New
D Dominion Energy Inc. 0.15% 64,055 $3.6M New
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.14% 84,277 $3.5M New
OXY Occidental Petroleum Corp. 0.14% 70,352 $3.5M New
COP Conocophillips 0.14% 32,945 $3.5M New
HRL Hormel Foods Corp. 0.14% 107,335 $3.3M New
ELV Elevance Health Inc. 0.14% 7,607 $3.3M New
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.13% 35,472 $3.3M New
AMCR Amcor PLC 0.13% 335,937 $3.3M New
VLO Valero Energy Corp. 0.13% 24,345 $3.2M New
TSN Tyson Foods Inc. Class A 0.13% 49,115 $3.1M New
UPS United Parcel Service Class B 0.13% 28,150 $3.1M New
POST Post Holdings Inc. filed as POST HLDGS INC 0.13% 26,442 $3.1M New
SRE Sempra 0.13% 43,097 $3.1M New
SYY Sysco Corp. 0.12% 40,205 $3.0M New
PFE Pfizer Inc. 0.12% 118,007 $3.0M New
S Sentinelone Inc. Class A 0.12% 162,585 $3.0M New
STLA Stellantis NV 0.12% 266,585 $3.0M New
GPK Graphic Packaging Holding Co. 0.12% 113,415 $2.9M New
LMT Lockheed Martin Corp. 0.12% 6,570 $2.9M New
HST Host Hotels & Resorts Inc. 0.12% 204,255 $2.9M New
CMCSA Comcast Corp. Class A 0.12% 78,272 $2.9M New
CLX Clorox Company 0.12% 19,582 $2.9M Reduce -89.9%
MA Mastercard Inc. Class A 0.12% 5,240 $2.9M New
GPC Genuine Parts Co. 0.12% 24,060 $2.9M New
NEE Nextera Energy Inc. 0.12% 40,155 $2.8M New
HCA HCA Healthcare Inc. 0.11% 8,080 $2.8M New
KR Kroger Co. 0.11% 40,890 $2.8M New
GLPI Gaming and Leisure Propertie 0.11% 54,361 $2.8M New
ZS Zscaler Inc. 0.11% 13,932 $2.8M New
BEN Franklin Templeton Inc. 0.11% 142,245 $2.7M New
BXP BXP Inc. 0.11% 40,627 $2.7M New
PCAR Paccar Inc. 0.11% 27,880 $2.7M New
LKQ LKQ Corp. 0.11% 62,210 $2.6M New
BALL Ball Corp. 0.11% 50,672 $2.6M New
ANET Arista Networks Inc. 0.11% 33,370 $2.6M New
CI The Cigna Group 0.10% 7,782 $2.6M New
MRK Merck & Co. Inc. 0.10% 28,372 $2.5M New
AGCO Agco Corp. 0.10% 26,985 $2.5M New
STZ Constellation Brands Inc. Class A 0.10% 13,580 $2.5M New
BMY Bristol-Myers Squibb Co. 0.10% 40,532 $2.5M New
RVTY Revvity Inc. 0.10% 23,052 $2.4M New
DINO HF Sinclair Corp. 0.10% 73,022 $2.4M New
UGI Ugi Corp. 0.10% 71,882 $2.4M New
GNTX Gentex Corp. 0.10% 100,970 $2.4M New
APA Apa Corp. 0.10% 111,375 $2.3M New
MAN Manpowergroup Inc. 0.09% 40,115 $2.3M New
NOW ServiceNow Inc. 0.09% 2,892 $2.3M New
BAX Baxter International Inc. 0.09% 66,695 $2.3M New
RHI Robert Half Inc. 0.09% 41,720 $2.3M New
TSCO Tractor Supply Company 0.09% 40,840 $2.3M New
WU Western Union Co. 0.09% 212,665 $2.2M New
STWD Starwood Property Trust Inc. 0.09% 113,297 $2.2M New
ACI Albertsons Cos Inc. Class A 0.09% 101,607 $2.2M New
REGN Regeneron Pharmaceuticals 0.09% 3,475 $2.2M New
CYBR Cyberark Software Ltd./Israel 0.09% 6,466 $2.2M New
ARW Arrow Electronics Inc. 0.09% 20,867 $2.2M New
TTC Toro Co. 0.09% 29,710 $2.2M New
HII Huntington Ingalls Industrie 0.09% 10,577 $2.2M New
FIS Fidelity National Info Serv 0.09% 28,854 $2.2M New
MUSA Murphy USA Inc. 0.09% 4,535 $2.1M New
WEN The Wendy's Co. 0.09% 142,470 $2.1M New

Show all 189 holdings

Portfolio Sells Q4 2024 → Q1 2025
KMB Kimberly-Clark Corp. Reduce -99.7% 0.02% −8.87
CAG Conagra Brands Inc. Reduce -86.1% 0.76% −8.09
ECL Ecolab Inc. Sold out 0.00% −4.86
CL Colgate-Palmolive Co. Sold out 0.00% −4.01
BG Bunge Global SA Reduce -78.6% 0.58% −3.71
TMO Thermo Fisher Scientific Inc. Sold out 0.00% −3.65
MAR Marriott International Class A Sold out 0.00% −3.51
ALC Alcon Inc. Sold out 0.00% −3.26
TAP Molson Coors Beverage Co. Class B Sold out 0.00% −3.15
GIS General Mills Inc. Sold out 0.00% −2.67
LULU Lululemon Athletica Inc. Sold out 0.00% −2.62
IFF Intl Flavors & Fragrances Sold out 0.00% −2.34
FMC FMC Corp. Sold out 0.00% −2.28
GEHC GE Healthcare Technology Sold out 0.00% −2.22
A Agilent Technologies Inc. Sold out 0.00% −2.21
KO The Coca-Cola Co. Reduce -1.5% 5.63% −2.14
OLN Olin Corp. Sold out 0.00% −2.12
CLX Clorox Company Reduce -89.9% 0.12% −1.90
DKNG Draftkings Inc. Class A Sold out 0.00% −1.85
V Visa Inc. Class A Sold out 0.00% −1.54
SBAC SBA Communications Corp. Sold out 0.00% −0.60

Portfolio Buys Q4 2024 → Q1 2025
FLUT Flutter Entertainment PLC-Di New 5.18% +5.18
MNST Monster Beverage Corp. Add +388.4% 6.69% +4.76
MKC McCormick & Co.-Non VTG SHRS New 3.80% +3.80
RACE Ferrari NV New 3.37% +3.37
RPM RPM International Inc. New 3.22% +3.22
NTR Nutrien Ltd. New 3.14% +3.14
MDLZ Mondelez International Inc. Class A New 3.10% +3.10
ONON On Holding AG Class A New 2.49% +2.49
KDP Keurig Dr Pepper Inc. New 2.38% +2.38
CF CF Industries Holdings Inc. Add +501.8% 3.02% +2.16
LBTYK Liberty Global Ltd. Class C New 2.09% +2.09
EL Estee Lauder Companies Class A New 2.02% +2.02
PM Philip Morris International New 1.97% +1.97
CTVA Corteva Inc. New 1.91% +1.91
HUN Huntsman Corp. New 1.87% +1.87
WLK Westlake Corp. Add +359.8% 2.86% +1.74
FRPT Freshpet Inc. New 1.53% +1.53
MOS The Mosaic Co. Add +669.9% 1.60% +1.30
ELF Elf Beauty Inc. New 1.29% +1.29
APD Air Products & Chemicals Inc. Add +96.9% 5.44% +1.19
DOW Dow Inc. New 0.90% +0.90
SJM The JM Smucker Co. Add +61.8% 7.51% +0.75
DB Deutsche Bank AG-Registered New 0.71% +0.71
CCI Crown Castle Inc. Add +77.7% 2.79% +0.65
CHD Church & Dwight Co. Inc. New 0.57% +0.57
SHW The Sherwin-Williams Co. Add +83.0% 3.24% +0.54
SARO Standardaero Inc. New 0.28% +0.28
O Realty Income Corp. New 0.17% +0.17
FE Firstenergy Corp. New 0.17% +0.17
VZ Verizon Communications Inc. New 0.16% +0.16
PNW Pinnacle West Capital New 0.15% +0.15
CVX Chevron Corp. New 0.15% +0.15
AWK American Water Works Co. Inc. New 0.15% +0.15
ADC Agree Realty Corp. New 0.15% +0.15
D Dominion Energy Inc. New 0.15% +0.15
SLB SLB Ltd. New 0.14% +0.14
OXY Occidental Petroleum Corp. New 0.14% +0.14
COP Conocophillips New 0.14% +0.14
HRL Hormel Foods Corp. New 0.14% +0.14
ELV Elevance Health Inc. New 0.14% +0.14
TROW T Rowe Price Group Inc. New 0.13% +0.13
AMCR Amcor PLC New 0.13% +0.13
VLO Valero Energy Corp. New 0.13% +0.13
TSN Tyson Foods Inc. Class A New 0.13% +0.13
UPS United Parcel Service Class B New 0.13% +0.13
POST Post Holdings Inc. New 0.13% +0.13
SRE Sempra New 0.13% +0.13
SYY Sysco Corp. New 0.12% +0.12
PFE Pfizer Inc. New 0.12% +0.12
S Sentinelone Inc. Class A New 0.12% +0.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 143$4.9BPG, FLUT, MDLZ, KDP, YUM
Q1 2026 64$4.1BPEP, ONON, PG, HLT, MCD
Q4 2025 62$3.5BFLUT, GIS, MKC, KO, CL
Q3 2025 135$3.1BGIS, RACE, PG, LIN, RPM
Q2 2025 156$3.0BIFF, SJM, FLUT, MDLZ, KDP
Q1 2025 189$2.4BSJM, MNST, KO, APD, FLUT
Q4 2024 31$1.6BKMB, CAG, KO, SJM, ECL
Q3 2024 25$1.5BMDLZ, K, ALC, KMB, CLX
Q2 2024 20$975.9MKO, KDP, TMO, STZ, IFF
Q1 2024 19$1.0BPG, KO, KHC, IFF, ALC