Ilex Capital Partners (UK) LLP

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Ilex Capital Partners (UK) LLP reported 156 stock positions worth $3.0 billion. Its top holding was Intl Flavors & Fragrances (IFF) at 7.0% of the portfolio, followed by JM Smucker (SJM, 6.6%) and Flutter Entertainment PLC-Di (FLUT, 6.4%). Compared with Q1 2025, it opened 86 new positions, sold out of 119, added to 19 and reduced 51. The biggest buy was a new position in Intl Flavors & Fragrances (IFF) and the biggest sale an exit from Monster Beverage (MNST).

Most Recent 13F
Q2 2026
Location
London, X0
CIK
0001985486
Portfolio Value
$3.0B (Q2 2025)
SEC Filing
0001172661-25-003377 ↗ filed Aug 14, 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 Q1 2025 Q2 2025: $3.0B $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 156 stocks · $3.0B
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 7.02% 2,883,611 $212.1M New
SJM The JM Smucker Co. filed as SMUCKER J M CO 6.61% 2,033,615 $199.7M Add +31.0%
FLUT Flutter Entertainment PLC-Di 6.37% 673,715 $192.5M Add +17.9%
MDLZ Mondelez International Inc. Class A 5.24% 2,348,096 $158.4M Add +110.2%
KDP Keurig Dr Pepper Inc. 4.96% 4,533,660 $149.9M Add +166.3%
DD Dupont DE Nemours Inc. 4.64% 2,043,299 $140.1M Add +175.8%
PG The Procter & Gamble Co. 3.66% 693,377 $110.5M New
ESI Element Solutions Inc. 3.49% 4,656,299 $105.5M Add +61.7%
A Agilent Technologies Inc. 3.20% 819,290 $96.7M New
RACE Ferrari NV 3.19% 197,347 $96.4M Add +1.5%
LIN Linde PLC 2.83% 182,428 $85.6M New
T AT&T Inc. 2.49% 2,598,728 $75.2M New
BG Bunge Global SA 2.37% 891,673 $71.6M Add +383.7%
RPM RPM International Inc. 2.11% 581,318 $63.9M Reduce -14.7%
CL Colgate-Palmolive Co. 2.06% 686,136 $62.4M New
AXTA Axalta Coating Systems Ltd. 2.00% 2,040,129 $60.6M New
PM Philip Morris International 1.90% 315,023 $57.4M Add +4.0%
NKE Nike Inc. Class B 1.87% 795,425 $56.5M Add +2360.7%
CELH Celsius Holdings Inc. 1.85% 1,206,434 $56.0M New
SYK Stryker Corp. 1.75% 133,652 $52.9M New
FMC FMC Corp. 1.74% 1,261,784 $52.7M New
ALC Alcon Inc. filed as ALCON AG 1.74% 594,610 $52.4M New
ARMK Aramark 1.73% 1,245,322 $52.1M New
OLN Olin Corp. 1.67% 2,512,489 $50.5M New
CCI Crown Castle Inc. 1.48% 436,665 $44.9M Reduce -33.3%
GEHC GE Healthcare Technology 1.48% 604,102 $44.7M New
EMN Eastman Chemical Co. 1.41% 569,879 $42.5M New
ACN Accenture PLC Class A 1.33% 134,612 $40.2M New
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 1.32% 494,122 $39.9M Reduce -33.9%
RMD Resmed Inc. 1.30% 152,347 $39.3M New
MOS The Mosaic Co. 1.24% 1,023,663 $37.3M Reduce -29.3%
AGCO Agco Corp. 0.98% 287,492 $29.7M Add +965.4%
BIO Bio-Rad Laboratories-A 0.97% 120,885 $29.2M Add +1790.3%
WLK Westlake Corp. 0.69% 273,564 $20.8M Reduce -60.9%
V Visa Inc. Class A 0.68% 58,082 $20.6M New
BA The Boeing Co. 0.67% 96,650 $20.3M New
AIRO Airo Group Holdings Inc. 0.62% 778,978 $18.8M New
PYPL PayPal Holdings Inc. 0.54% 218,779 $16.3M Add +1592.2%
XYZ Block Inc. 0.50% 223,857 $15.2M New
ILMN Illumina Inc. 0.49% 154,119 $14.7M Add +737.1%
CYBR Cyberark Software Ltd./Israel 0.48% 35,592 $14.5M Add +450.4%
S Sentinelone Inc. Class A 0.47% 778,897 $14.2M Add +379.1%
LBTYK Liberty Global Ltd. Class C 0.46% 1,334,205 $13.8M Reduce -68.8%
WH Wyndham Hotels & Resorts Inc. 0.41% 150,777 $12.2M New
CHKP Check Point Software Tech 0.38% 51,954 $11.5M New
ZS Zscaler Inc. 0.35% 33,534 $10.5M Add +140.7%
LBTYA Liberty Global Ltd. Class A 0.35% 1,042,483 $10.4M New
TOST Toast Inc. Class A 0.34% 231,442 $10.3M New
FER Ferrovial NV 0.25% 144,905 $7.7M New
GE General Electric filed as GE AEROSPACE 0.14% 16,864 $4.3M New
TDG Transdigm Group Inc. 0.14% 2,807 $4.3M New
SO The Southern Co. 0.09% 29,702 $2.7M New
ATO Atmos Energy Corp. 0.09% 17,215 $2.7M New
FOUR SHIFT4 Payments Inc. Class A 0.07% 22,777 $2.3M New
PEP Pepsico Inc. 0.07% 16,790 $2.2M New
XOM Exxon Mobil Corp. 0.07% 19,885 $2.1M New
PNW Pinnacle West Capital 0.07% 23,715 $2.1M Reduce -39.6%
AMAT Applied Materials Inc. 0.07% 11,190 $2.0M New
AWK American Water Works Co. Inc. 0.07% 14,682 $2.0M Reduce -41.6%
ADC Agree Realty Corp. 0.07% 27,642 $2.0M Reduce -42.2%
EOG EOG Resources Inc. 0.07% 16,557 $2.0M New
CVX Chevron Corp. 0.06% 13,562 $1.9M Reduce -39.3%
CPB The Campbell's Company 0.06% 62,520 $1.9M New
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.06% 19,770 $1.9M Reduce -44.3%
D Dominion Energy Inc. 0.06% 33,560 $1.9M Reduce -47.6%
COP Conocophillips 0.06% 20,517 $1.8M Reduce -37.7%
TMUS T-Mobile US Inc. 0.06% 7,517 $1.8M New
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.06% 52,925 $1.8M Reduce -37.2%
SYY Sysco Corp. 0.06% 22,997 $1.7M Reduce -42.8%
OXY Occidental Petroleum Corp. 0.06% 41,080 $1.7M Reduce -41.6%
VLO Valero Energy Corp. 0.06% 12,807 $1.7M Reduce -47.4%
FLO Flowers Foods Inc. 0.06% 107,615 $1.7M Reduce -1.7%
PR Permian Resources Corp. Class A 0.06% 125,495 $1.7M New
MTDR Matador Resources Co. 0.06% 35,255 $1.7M New
HAL Halliburton Co. 0.05% 81,430 $1.7M New
FRPT Freshpet Inc. 0.05% 22,977 $1.6M Reduce -94.9%
CSL Carlisle Cos Inc. 0.05% 4,075 $1.5M New
MPC Marathon Petroleum Corp. 0.05% 8,967 $1.5M New
GPK Graphic Packaging Holding Co. 0.05% 70,172 $1.5M Reduce -38.1%
MSM MSC Industrial Direct Co. Class A 0.05% 17,255 $1.5M New
HCA HCA Healthcare Inc. 0.05% 3,822 $1.5M Reduce -52.7%
CTRA Coterra Energy Inc. 0.05% 57,562 $1.5M New
HUBB Hubbell Inc. 0.05% 3,505 $1.4M New
NOV Nov Inc. 0.05% 113,905 $1.4M New
RGLD Royal Gold Inc. 0.05% 7,853 $1.4M New
AGNC AGNC Investment Corp. 0.04% 145,475 $1.3M New
KR Kroger Co. 0.04% 18,552 $1.3M Reduce -54.6%
ELV Elevance Health Inc. 0.04% 3,407 $1.3M Reduce -55.2%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.04% 7,343 $1.3M New
POOL Pool Corp. 0.04% 4,525 $1.3M New
QCOM Qualcomm Inc. 0.04% 8,200 $1.3M New
UGI Ugi Corp. 0.04% 35,716 $1.3M Reduce -50.3%
NEM Newmont Corp. 0.04% 22,022 $1.3M New
HSIC Henry Schein Inc. 0.04% 17,402 $1.3M New
HPQ HP Inc. 0.04% 51,472 $1.3M New
ACI Albertsons Cos Inc. Class A 0.04% 57,810 $1.2M Reduce -43.1%
WSO Watsco Inc. 0.04% 2,807 $1.2M New
APA Apa Corp. 0.04% 66,002 $1.2M Reduce -40.7%
RHI Robert Half Inc. 0.04% 28,437 $1.2M Reduce -31.8%
TGT Target Corp. 0.04% 11,590 $1.1M Reduce -41.5%

Show all 156 holdings

Portfolio Sells Q1 2025 → Q2 2025
MNST Monster Beverage Corp. Sold out 0.00% −6.69
KO The Coca-Cola Co. Sold out 0.00% −5.63
APD Air Products & Chemicals Inc. Sold out 0.00% −5.44
MKC McCormick & Co.-Non VTG SHRS Sold out 0.00% −3.80
SHW The Sherwin-Williams Co. Sold out 0.00% −3.24
NTR Nutrien Ltd. Sold out 0.00% −3.14
CF CF Industries Holdings Inc. Sold out 0.00% −3.02
ONON On Holding AG Class A Sold out 0.00% −2.49
WLK Westlake Corp. Reduce -60.9% 0.69% −2.17
CTVA Corteva Inc. Sold out 0.00% −1.91
HUN Huntsman Corp. Sold out 0.00% −1.87
LBTYK Liberty Global Ltd. Class C Reduce -68.8% 0.46% −1.64
FRPT Freshpet Inc. Reduce -94.9% 0.05% −1.48
CCI Crown Castle Inc. Reduce -33.3% 1.48% −1.31
ELF Elf Beauty Inc. Sold out 0.00% −1.29
RPM RPM International Inc. Reduce -14.7% 2.11% −1.11
DOW Dow Inc. Sold out 0.00% −0.90
CAG Conagra Brands Inc. Sold out 0.00% −0.76
DB Deutsche Bank AG-Registered Sold out 0.00% −0.71
EL Estee Lauder Companies Class A Reduce -33.9% 1.32% −0.70
CHD Church & Dwight Co. Inc. Sold out 0.00% −0.57
MOS The Mosaic Co. Reduce -29.3% 1.24% −0.36
SARO Standardaero Inc. Sold out 0.00% −0.28
O Realty Income Corp. Sold out 0.00% −0.17
FE Firstenergy Corp. Sold out 0.00% −0.17
VZ Verizon Communications Inc. Sold out 0.00% −0.16
HRL Hormel Foods Corp. Sold out 0.00% −0.14
AMCR Amcor PLC Sold out 0.00% −0.13
TSN Tyson Foods Inc. Class A Sold out 0.00% −0.13
UPS United Parcel Service Class B Sold out 0.00% −0.13
POST Post Holdings Inc. Sold out 0.00% −0.13
SRE Sempra Sold out 0.00% −0.13
PFE Pfizer Inc. Sold out 0.00% −0.12
STLA Stellantis NV Sold out 0.00% −0.12
LMT Lockheed Martin Corp. Sold out 0.00% −0.12
HST Host Hotels & Resorts Inc. Sold out 0.00% −0.12
CMCSA Comcast Corp. Class A Sold out 0.00% −0.12
CLX Clorox Company Sold out 0.00% −0.12
MA Mastercard Inc. Class A Sold out 0.00% −0.12
GPC Genuine Parts Co. Sold out 0.00% −0.12
NEE Nextera Energy Inc. Sold out 0.00% −0.12
GLPI Gaming and Leisure Propertie Sold out 0.00% −0.11
BEN Franklin Templeton Inc. Sold out 0.00% −0.11
BXP BXP Inc. Sold out 0.00% −0.11
PCAR Paccar Inc. Sold out 0.00% −0.11
LKQ LKQ Corp. Sold out 0.00% −0.11
BALL Ball Corp. Sold out 0.00% −0.11
ANET Arista Networks Inc. Sold out 0.00% −0.11
CI The Cigna Group Sold out 0.00% −0.10
MRK Merck & Co. Inc. Sold out 0.00% −0.10

Portfolio Buys Q1 2025 → Q2 2025
IFF Intl Flavors & Fragrances New 7.02% +7.02
PG The Procter & Gamble Co. New 3.66% +3.66
A Agilent Technologies Inc. New 3.20% +3.20
LIN Linde PLC New 2.83% +2.83
KDP Keurig Dr Pepper Inc. Add +166.3% 4.96% +2.58
T AT&T Inc. New 2.49% +2.49
DD Dupont DE Nemours Inc. Add +175.8% 4.64% +2.38
MDLZ Mondelez International Inc. Class A Add +110.2% 5.24% +2.14
CL Colgate-Palmolive Co. New 2.06% +2.06
AXTA Axalta Coating Systems Ltd. New 2.00% +2.00
CELH Celsius Holdings Inc. New 1.85% +1.85
BG Bunge Global SA Add +383.7% 2.37% +1.79
NKE Nike Inc. Class B Add +2360.7% 1.87% +1.79
SYK Stryker Corp. New 1.75% +1.75
FMC FMC Corp. New 1.74% +1.74
ALC Alcon Inc. New 1.74% +1.74
ARMK Aramark New 1.73% +1.73
OLN Olin Corp. New 1.67% +1.67
GEHC GE Healthcare Technology New 1.48% +1.48
EMN Eastman Chemical Co. New 1.41% +1.41
ACN Accenture PLC Class A New 1.33% +1.33
RMD Resmed Inc. New 1.30% +1.30
FLUT Flutter Entertainment PLC-Di Add +17.9% 6.37% +1.19
BIO Bio-Rad Laboratories-A Add +1790.3% 0.97% +0.90
AGCO Agco Corp. Add +965.4% 0.98% +0.88
ESI Element Solutions Inc. Add +61.7% 3.49% +0.83
V Visa Inc. Class A New 0.68% +0.68
BA The Boeing Co. New 0.67% +0.67
AIRO Airo Group Holdings Inc. New 0.62% +0.62
PYPL PayPal Holdings Inc. Add +1592.2% 0.54% +0.50
XYZ Block Inc. New 0.50% +0.50
ILMN Illumina Inc. Add +737.1% 0.49% +0.43
WH Wyndham Hotels & Resorts Inc. New 0.41% +0.41
CYBR Cyberark Software Ltd./Israel Add +450.4% 0.48% +0.39
CHKP Check Point Software Tech New 0.38% +0.38
S Sentinelone Inc. Class A Add +379.1% 0.47% +0.35
LBTYA Liberty Global Ltd. Class A New 0.35% +0.35
TOST Toast Inc. Class A New 0.34% +0.34
FER Ferrovial NV New 0.25% +0.25
ZS Zscaler Inc. Add +140.7% 0.35% +0.24
GE General Electric New 0.14% +0.14
TDG Transdigm Group Inc. New 0.14% +0.14
SO The Southern Co. New 0.09% +0.09
ATO Atmos Energy Corp. New 0.09% +0.09
FOUR SHIFT4 Payments Inc. Class A New 0.07% +0.07
PEP Pepsico Inc. New 0.07% +0.07
XOM Exxon Mobil Corp. New 0.07% +0.07
AMAT Applied Materials Inc. New 0.07% +0.07
EOG EOG Resources Inc. New 0.07% +0.07
CPB The Campbell's Company New 0.06% +0.06

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