Ilex Capital Partners (UK) LLP

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Ilex Capital Partners (UK) LLP reported 135 stock positions worth $3.1 billion. Its top holding was General Mills (GIS) at 9.5% of the portfolio, followed by Ferrari (RACE, 5.9%) and Procter & Gamble (PG, 5.7%). Compared with Q2 2025, it opened 79 new positions, sold out of 100, added to 20 and reduced 36. The biggest buy was a new position in General Mills (GIS) and the biggest sale an exit from Intl Flavors & Fragrances (IFF).

Most Recent 13F
Q2 2026
Location
London, X0
CIK
0001985486
Portfolio Value
$3.1B (Q3 2025)
SEC Filing
0001172661-25-005016 ↗ filed Nov 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 Q2 2025 Q3 2025: $3.1B $3.1B Q3 2025 Q4 2025: $3.5B Q4 2025 Q1 2026: $4.1B Q1 2026 Q2 2026: $4.9B Q2 2026

Holdings 135 stocks · $3.1B
GIS General Mills Inc. 9.47% 5,880,323 $296.5M New
RACE Ferrari NV 5.87% 380,050 $183.8M Add +92.6%
PG The Procter & Gamble Co. 5.75% 1,171,262 $180.0M Add +68.9%
LIN Linde PLC 4.77% 314,219 $149.3M Add +72.2%
RPM RPM International Inc. 3.90% 1,035,630 $122.1M Add +78.2%
TMUS T-Mobile US Inc. 3.61% 472,536 $113.1M Add +6186.2%
DAR Darling Ingredients Inc. 3.20% 3,251,180 $100.4M New
DD Dupont DE Nemours Inc. 3.10% 1,246,276 $97.1M Reduce -39.0%
MDLZ Mondelez International Inc. Class A 2.86% 1,433,145 $89.5M Reduce -39.0%
FLUT Flutter Entertainment PLC-Di 2.66% 328,209 $83.4M Reduce -51.3%
KO The Coca-Cola Co. 2.64% 1,248,586 $82.8M New
APD Air Products & Chemicals Inc. 2.61% 300,212 $81.9M New
A Agilent Technologies Inc. 2.59% 632,777 $81.2M Reduce -22.8%
CRH CRH PLC 2.49% 652,455 $78.0M New
ADM Archer-Daniels-Midland Co. 2.40% 1,259,667 $75.3M New
SYK Stryker Corp. 2.19% 185,752 $68.7M Add +39.0%
ILMN Illumina Inc. 2.07% 682,407 $64.8M Add +342.8%
COO The Cooper Cos Inc. 1.92% 875,384 $60.0M New
ELF Elf Beauty Inc. 1.82% 429,130 $56.9M New
GEHC GE Healthcare Technology 1.81% 754,477 $56.7M Add +24.9%
ECL Ecolab Inc. 1.76% 201,150 $55.1M New
CTVA Corteva Inc. 1.73% 802,843 $54.3M New
LLY Eli Lilly & Co. 1.72% 70,717 $54.0M New
ACN Accenture PLC Class A 1.59% 201,730 $49.7M Add +49.9%
ONON On Holding AG Class A filed as ON HLDG AG 1.41% 1,042,808 $44.2M New
AGCO Agco Corp. 1.39% 405,269 $43.4M Add +41.0%
MO Altria Group Inc. 1.38% 654,581 $43.2M New
BA The Boeing Co. 1.35% 196,305 $42.4M Add +103.1%
TRU Transunion 1.31% 488,476 $40.9M New
FLY Firefly Aerospace Inc. 1.23% 1,316,471 $38.6M New
UNH Unitedhealth Group Inc. 1.11% 100,397 $34.7M Add +2928.6%
WH Wyndham Hotels & Resorts Inc. 1.07% 418,246 $33.4M Add +177.4%
ROL Rollins Inc. 1.03% 547,587 $32.2M New
SRAD Sportradar Group AG-A 1.00% 1,167,364 $31.4M New
DPZ Domino's Pizza Inc. 0.95% 69,057 $29.8M New
BIO Bio-Rad Laboratories-A 0.90% 100,558 $28.2M Reduce -16.8%
CCI Crown Castle Inc. 0.88% 285,255 $27.5M Reduce -34.7%
MAR Marriott International Class A 0.83% 99,221 $25.8M New
SBAC SBA Communications Corp. 0.82% 132,622 $25.6M New
RMD Resmed Inc. 0.81% 92,885 $25.4M Reduce -39.0%
V Visa Inc. Class A 0.80% 73,777 $25.2M Add +27.0%
CHD Church & Dwight Co. Inc. 0.78% 277,617 $24.3M New
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.65% 231,354 $20.4M Reduce -53.2%
AIRO Airo Group Holdings Inc. 0.63% 1,030,288 $19.8M Add +32.3%
GPN Global Payments Inc. 0.58% 218,707 $18.2M New
ESI Element Solutions Inc. 0.58% 718,623 $18.1M Reduce -84.6%
TOST Toast Inc. Class A 0.37% 315,335 $11.5M Add +36.3%
MOS The Mosaic Co. 0.35% 312,084 $10.8M Reduce -69.5%
GOOS Canada Goose Holdings Inc. 0.35% 784,765 $10.8M New
FIS Fidelity National Info Serv 0.33% 154,910 $10.2M New
WLK Westlake Corp. 0.27% 110,691 $8.5M Reduce -59.5%
LATAU Galata Acquisition Corp. II 0.19% 600,600 $6.0M New
EVEX Eve Holding Inc. filed as EVE HLDG INC 0.17% 1,420,649 $5.4M New
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.14% 47,277 $4.2M New
BLZRU Trailblazer Acquisition Corp. 0.09% 287,871 $2.9M New
NOV Nov Inc. 0.07% 165,475 $2.2M Add +45.3%
BCSS.U Bain Capital GSS Investment 0.06% 200,000 $2.0M New
CAG Conagra Brands Inc. 0.06% 106,050 $1.9M New
FLO Flowers Foods Inc. 0.06% 137,352 $1.8M Add +27.6%
HAL Halliburton Co. 0.05% 69,787 $1.7M Reduce -14.3%
LYB Lyondellbasell Indu Class A 0.05% 32,767 $1.6M New
AVAV Aerovironment Inc. 0.05% 4,853 $1.5M New
WU Western Union Co. 0.05% 188,987 $1.5M New
MTDR Matador Resources Co. 0.05% 31,802 $1.4M Reduce -9.8%
CNC Centene Corp. 0.04% 37,085 $1.3M New
KLAR Klarna Group PLC 0.04% 34,619 $1.3M New
HUN Huntsman Corp. 0.04% 137,195 $1.2M New
LEN Lennar Corp. Class A 0.04% 9,365 $1.2M New
AESI Atlas Energy Solutions Inc. 0.04% 97,125 $1.1M Add +38.1%
WEN The Wendy's Co. 0.03% 116,570 $1.1M New
CIVI Civitas Resources Inc. 0.03% 30,445 $989K Add +0.3%
APA Apa Corp. 0.03% 39,415 $957K Reduce -40.3%
ALC Alcon Inc. filed as ALCON AG 0.03% 12,623 $940K Reduce -97.9%
ACI Albertsons Cos Inc. Class A 0.03% 51,572 $903K Reduce -10.8%
CNH CNH Industrial NV 0.03% 74,857 $812K New
CHRD Chord Energy Corp. 0.02% 7,650 $760K New
WHR Whirlpool Corp. 0.02% 9,540 $750K Reduce -0.8%
RHI Robert Half Inc. 0.02% 20,625 $701K Reduce -27.5%
MOH Molina Healthcare Inc. 0.02% 3,497 $669K New
STZ Constellation Brands Inc. Class A 0.02% 4,955 $667K New
CLF Cleveland-Cliffs Inc. 0.02% 54,637 $667K New
MAN Manpowergroup Inc. 0.02% 17,230 $653K New
FHB First Hawaiian Inc. 0.02% 26,252 $652K New
CTRA Coterra Energy Inc. 0.02% 27,435 $649K Reduce -52.3%
MTN Vail Resorts Inc. 0.02% 4,307 $644K New
GPK Graphic Packaging Holding Co. 0.02% 31,462 $616K Reduce -55.2%
OMC Omnicom Group 0.02% 7,502 $612K New
FMC FMC Corp. 0.02% 18,077 $608K Reduce -98.6%
PSKY Paramount Skydance Class B 0.02% 31,915 $604K New
OLN Olin Corp. 0.02% 24,087 $602K Reduce -99.0%
F Ford Motor Co. filed as FORD MTR CO 0.02% 50,197 $600K New
VAC Marriott Vacations World 0.02% 8,942 $595K New
PRGO Perrigo Co. PLC 0.02% 25,765 $574K New
ACHC Acadia Healthcare Co. Inc. 0.02% 22,922 $568K Reduce -25.6%
ARE Alexandria Real Estate Equit 0.02% 6,732 $561K New
SIRI Sirius XM Holdings Inc. 0.02% 23,367 $544K New
OZK Bank Ozk 0.02% 9,712 $495K New
BAX Baxter International Inc. 0.02% 21,127 $481K New
HRI Herc Holdings Inc. filed as HERC HLDGS INC 0.02% 4,122 $481K New
UGI Ugi Corp. 0.02% 14,187 $472K Reduce -60.3%
LEA Lear Corp. 0.01% 4,670 $470K Reduce -13.1%
VLY Valley National Bancorp 0.01% 44,165 $468K New
PLTK Playtika Holding Corp. 0.01% 118,855 $462K New
MUSA Murphy USA Inc. 0.01% 1,177 $457K Reduce -45.1%
CNXC Concentrix Corp. 0.01% 9,845 $454K Reduce -29.8%
OVV Ovintiv Inc. 0.01% 11,180 $451K New
CZR Caesars Entertainment Inc. 0.01% 16,517 $446K New
SAM Boston Beer Company Inc. Class A 0.01% 2,045 $432K New
ELV Elevance Health Inc. 0.01% 1,335 $431K Reduce -60.8%
PENN Penn Entertainment Inc. 0.01% 22,382 $431K New
CLVT Clarivate PLC 0.01% 109,227 $418K Reduce -17.7%
POST Post Holdings Inc. filed as POST HLDGS INC 0.01% 3,877 $417K New
NWL Newell Brands Inc. 0.01% 79,307 $416K New
OXY Occidental Petroleum Corp. 0.01% 8,307 $393K Reduce -79.8%
LKQ LKQ Corp. 0.01% 12,707 $388K New
BLDR Builders Firstsource Inc. 0.01% 3,155 $383K New
NXST Nexstar Media Group Inc. 0.01% 1,840 $364K Reduce -64.9%
KMX Carmax Inc. 0.01% 6,987 $314K New
HOG Harley-Davidson Inc. 0.01% 10,860 $303K Reduce -70.5%
TFSL TFS Financial Corp. 0.01% 22,655 $298K New
JBLU Jetblue Airways Corp. 0.01% 58,050 $286K New
FRPT Freshpet Inc. 0.01% 5,007 $276K Reduce -78.2%
M Macy's Inc. 0.01% 15,377 $276K Reduce -78.2%
QDEL Quidelortho Corp. 0.01% 8,942 $263K New
XRAY Dentsply Sirona Inc. 0.01% 20,535 $261K New
CE Celanese Corp. 0.01% 6,047 $254K New
BHF Brighthouse Financial Inc. 0.01% 4,682 $249K New
AAP Advance Auto Parts Inc. 0.01% 3,870 $238K Reduce -68.7%
LCID Lucid Group Inc. 0.01% 9,675 $230K Reduce -62.7%
CC The Chemours Co. 0.01% 14,482 $229K New
SMG Scotts Miracle-Gro Co. 0.01% 3,987 $227K New
GLOB Globant SA 0.01% 3,865 $222K New
BXP BXP Inc. 0.01% 2,807 $209K New
FRO Frontline PLC 0.01% 9,014 $206K New
OGN Organon & Co. 0.01% 14,575 $156K New

Portfolio Sells Q2 2025 → Q3 2025
IFF Intl Flavors & Fragrances Sold out 0.00% −7.02
SJM The JM Smucker Co. Sold out 0.00% −6.61
KDP Keurig Dr Pepper Inc. Sold out 0.00% −4.96
FLUT Flutter Entertainment PLC-Di Reduce -51.3% 2.66% −3.71
ESI Element Solutions Inc. Reduce -84.6% 0.58% −2.91
T AT&T Inc. Sold out 0.00% −2.49
MDLZ Mondelez International Inc. Class A Reduce -39.0% 2.86% −2.38
BG Bunge Global SA Sold out 0.00% −2.37
CL Colgate-Palmolive Co. Sold out 0.00% −2.06
AXTA Axalta Coating Systems Ltd. Sold out 0.00% −2.00
PM Philip Morris International Sold out 0.00% −1.90
NKE Nike Inc. Class B Sold out 0.00% −1.87
CELH Celsius Holdings Inc. Sold out 0.00% −1.85
ARMK Aramark Sold out 0.00% −1.73
FMC FMC Corp. Reduce -98.6% 0.02% −1.72
ALC Alcon Inc. Reduce -97.9% 0.03% −1.71
OLN Olin Corp. Reduce -99.0% 0.02% −1.65
DD Dupont DE Nemours Inc. Reduce -39.0% 3.10% −1.54
EMN Eastman Chemical Co. Sold out 0.00% −1.41
MOS The Mosaic Co. Reduce -69.5% 0.35% −0.89
EL Estee Lauder Companies Class A Reduce -53.2% 0.65% −0.67
A Agilent Technologies Inc. Reduce -22.8% 2.59% −0.61
CCI Crown Castle Inc. Reduce -34.7% 0.88% −0.61
PYPL PayPal Holdings Inc. Sold out 0.00% −0.54
XYZ Block Inc. Sold out 0.00% −0.50
RMD Resmed Inc. Reduce -39.0% 0.81% −0.49
CYBR Cyberark Software Ltd./Israel Sold out 0.00% −0.48
S Sentinelone Inc. Class A Sold out 0.00% −0.47
LBTYK Liberty Global Ltd. Class C Sold out 0.00% −0.46
WLK Westlake Corp. Reduce -59.5% 0.27% −0.42
CHKP Check Point Software Tech Sold out 0.00% −0.38
ZS Zscaler Inc. Sold out 0.00% −0.35
LBTYA Liberty Global Ltd. Class A Sold out 0.00% −0.35
FER Ferrovial NV Sold out 0.00% −0.25
GE General Electric Sold out 0.00% −0.14
TDG Transdigm Group Inc. Sold out 0.00% −0.14
SO The Southern Co. Sold out 0.00% −0.09
ATO Atmos Energy Corp. Sold out 0.00% −0.09
FOUR SHIFT4 Payments Inc. Class A Sold out 0.00% −0.07
PEP Pepsico Inc. Sold out 0.00% −0.07
XOM Exxon Mobil Corp. Sold out 0.00% −0.07
PNW Pinnacle West Capital Sold out 0.00% −0.07
AMAT Applied Materials Inc. Sold out 0.00% −0.07
AWK American Water Works Co. Inc. Sold out 0.00% −0.07
ADC Agree Realty Corp. Sold out 0.00% −0.07
EOG EOG Resources Inc. Sold out 0.00% −0.07
BIO Bio-Rad Laboratories-A Reduce -16.8% 0.90% −0.07
CVX Chevron Corp. Sold out 0.00% −0.06
CPB The Campbell's Company Sold out 0.00% −0.06
TROW T Rowe Price Group Inc. Sold out 0.00% −0.06

Portfolio Buys Q2 2025 → Q3 2025
GIS General Mills Inc. New 9.47% +9.47
TMUS T-Mobile US Inc. Add +6186.2% 3.61% +3.55
DAR Darling Ingredients Inc. New 3.20% +3.20
RACE Ferrari NV Add +92.6% 5.87% +2.68
KO The Coca-Cola Co. New 2.64% +2.64
APD Air Products & Chemicals Inc. New 2.61% +2.61
CRH CRH PLC New 2.49% +2.49
ADM Archer-Daniels-Midland Co. New 2.40% +2.40
PG The Procter & Gamble Co. Add +68.9% 5.75% +2.09
LIN Linde PLC Add +72.2% 4.77% +1.93
COO The Cooper Cos Inc. New 1.92% +1.92
ELF Elf Beauty Inc. New 1.82% +1.82
RPM RPM International Inc. Add +78.2% 3.90% +1.78
ECL Ecolab Inc. New 1.76% +1.76
CTVA Corteva Inc. New 1.73% +1.73
LLY Eli Lilly & Co. New 1.72% +1.72
ILMN Illumina Inc. Add +342.8% 2.07% +1.58
ONON On Holding AG Class A New 1.41% +1.41
MO Altria Group Inc. New 1.38% +1.38
TRU Transunion New 1.31% +1.31
FLY Firefly Aerospace Inc. New 1.23% +1.23
UNH Unitedhealth Group Inc. Add +2928.6% 1.11% +1.07
ROL Rollins Inc. New 1.03% +1.03
SRAD Sportradar Group AG-A New 1.00% +1.00
DPZ Domino's Pizza Inc. New 0.95% +0.95
MAR Marriott International Class A New 0.83% +0.83
SBAC SBA Communications Corp. New 0.82% +0.82
CHD Church & Dwight Co. Inc. New 0.78% +0.78
BA The Boeing Co. Add +103.1% 1.35% +0.68
WH Wyndham Hotels & Resorts Inc. Add +177.4% 1.07% +0.66
GPN Global Payments Inc. New 0.58% +0.58
SYK Stryker Corp. Add +39.0% 2.19% +0.44
AGCO Agco Corp. Add +41.0% 1.39% +0.40
GOOS Canada Goose Holdings Inc. New 0.35% +0.35
GEHC GE Healthcare Technology Add +24.9% 1.81% +0.33
FIS Fidelity National Info Serv New 0.33% +0.33
ACN Accenture PLC Class A Add +49.9% 1.59% +0.26
LATAU Galata Acquisition Corp. II New 0.19% +0.19
EVEX Eve Holding Inc. New 0.17% +0.17
CF CF Industries Holdings Inc. New 0.14% +0.14
V Visa Inc. Class A Add +27.0% 0.80% +0.12
BLZRU Trailblazer Acquisition Corp. New 0.09% +0.09
BCSS.U Bain Capital GSS Investment New 0.06% +0.06
CAG Conagra Brands Inc. New 0.06% +0.06
LYB Lyondellbasell Indu Class A New 0.05% +0.05
AVAV Aerovironment Inc. New 0.05% +0.05
WU Western Union Co. New 0.05% +0.05
CNC Centene Corp. New 0.04% +0.04
KLAR Klarna Group PLC New 0.04% +0.04
HUN Huntsman Corp. New 0.04% +0.04

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