Ilex Capital Partners (UK) LLP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Ilex Capital Partners (UK) LLP reported 62 stock positions worth $3.5 billion. Its top holding was Flutter Entertainment PLC-Di (FLUT) at 7.4% of the portfolio, followed by General Mills (GIS, 6.2%) and McCormick & Co.-Non VTG SHRS (MKC, 6.2%). Compared with Q3 2025, it opened 32 new positions, sold out of 105, added to 22 and reduced 6. The biggest buy was a new position in McCormick & Co.-Non VTG SHRS (MKC) and the biggest sale an exit from Ferrari (RACE).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001985486
- Portfolio Value
- $3.5B (Q4 2025)
- SEC Filing
- 0001172661-26-000930 ↗ filed Feb 17, 2026
Holdings Value
Holdings 62 stocks · $3.5B
| FLUT Flutter Entertainment PLC-Di | 7.36% | 1,210,764 | $260.4M | Add +268.9% |
| GIS General Mills Inc. | 6.24% | 4,752,431 | $221.0M | Reduce -19.2% |
| MKC McCormick & Co.-Non VTG SHRS | 6.16% | 3,201,107 | $218.0M | New |
| KO The Coca-Cola Co. | 5.52% | 2,795,352 | $195.4M | Add +123.9% |
| CL Colgate-Palmolive Co. | 4.66% | 2,087,190 | $164.9M | New |
| BSX Boston Scientific Corp. | 4.31% | 1,600,801 | $152.6M | New |
| MCD McDonald's Corp. | 3.41% | 395,208 | $120.8M | New |
| A Agilent Technologies Inc. | 3.39% | 882,549 | $120.1M | Add +39.5% |
| ELF Elf Beauty Inc. | 2.70% | 1,257,126 | $95.6M | Add +192.9% |
| ALC Alcon Inc. filed as ALCON AG | 2.66% | 1,178,072 | $94.1M | Add +9232.7% |
| CHD Church & Dwight Co. Inc. | 2.64% | 1,112,847 | $93.3M | Add +300.9% |
| STZ Constellation Brands Inc. Class A | 2.63% | 675,589 | $93.2M | Add +13534.5% |
| HLT Hilton Worldwide Holdings Inc. | 2.57% | 316,998 | $91.1M | New |
| CCI Crown Castle Inc. | 2.43% | 969,212 | $86.1M | Add +239.8% |
| SYK Stryker Corp. | 2.38% | 239,863 | $84.3M | Add +29.1% |
| DHR Danaher Corp. | 2.37% | 366,522 | $83.9M | New |
| GE General Electric filed as GE AEROSPACE | 2.24% | 257,284 | $79.3M | New |
| PEP Pepsico Inc. | 2.24% | 551,655 | $79.2M | New |
| TRU Transunion | 1.95% | 803,217 | $68.9M | Add +64.4% |
| DPZ Domino's Pizza Inc. | 1.92% | 163,347 | $68.1M | Add +136.5% |
| ACN Accenture PLC Class A | 1.91% | 251,888 | $67.6M | Add +24.9% |
| SRAD Sportradar Group AG-A | 1.77% | 2,642,232 | $62.8M | Add +126.3% |
| UNH Unitedhealth Group Inc. | 1.71% | 183,194 | $60.5M | Add +82.5% |
| RMD Resmed Inc. | 1.67% | 246,006 | $59.3M | Add +164.8% |
| FRPT Freshpet Inc. | 1.58% | 915,161 | $55.8M | Add +18177.6% |
| SBUX Starbucks Corp. | 1.55% | 651,046 | $54.8M | New |
| ROL Rollins Inc. | 1.52% | 894,382 | $53.7M | Add +63.3% |
| NVT Nvent Electric PLC | 1.45% | 503,037 | $51.3M | New |
| QGEN Qiagen N.V. | 1.32% | 1,020,725 | $46.6M | New |
| WH Wyndham Hotels & Resorts Inc. | 1.24% | 582,774 | $44.0M | Add +39.3% |
| GEHC GE Healthcare Technology | 1.18% | 510,468 | $41.9M | Reduce -32.3% |
| ILMN Illumina Inc. | 1.10% | 296,923 | $38.9M | Reduce -56.5% |
| ICLR Icon PLC | 1.09% | 211,898 | $38.6M | New |
| OTIS Otis Worldwide Corp. | 1.08% | 436,749 | $38.2M | New |
| GOOS Canada Goose Holdings Inc. | 0.92% | 2,501,177 | $32.4M | Add +218.7% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.85% | 164,026 | $29.9M | New |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.83% | 281,571 | $29.5M | Add +21.7% |
| TMUS T-Mobile US Inc. | 0.78% | 136,081 | $27.6M | Reduce -71.2% |
| NTRA Natera Inc. | 0.76% | 117,702 | $27.0M | New |
| T AT&T Inc. | 0.71% | 1,009,148 | $25.1M | New |
| GPN Global Payments Inc. | 0.55% | 253,041 | $19.6M | Add +15.7% |
| WMG Warner Music Group Corp. Class A | 0.55% | 634,496 | $19.5M | New |
| V Visa Inc. Class A | 0.54% | 54,708 | $19.2M | Reduce -25.9% |
| LLY Eli Lilly & Co. | 0.53% | 17,484 | $18.8M | Reduce -75.3% |
| XYZ Block Inc. | 0.46% | 252,579 | $16.4M | New |
| SHOP Shopify Inc. Class A | 0.34% | 73,746 | $11.9M | New |
| AFRM Affirm Holdings Inc. | 0.27% | 128,675 | $9.6M | New |
| MESHU Meshflow Acquisition Corp. | 0.20% | 719,058 | $7.2M | New |
| RANG Range Capital Acquisition Co. | 0.20% | 699,900 | $7.0M | New |
| AEAQU Activate Energy Acquisition | 0.19% | 673,506 | $6.7M | New |
| DSACU Daedalus Special Acquisition | 0.18% | 650,000 | $6.5M | New |
| GPACU General Purpose Acquisition | 0.17% | 599,700 | $6.0M | New |
| LATA Galata Acqu Corp. II Class A | 0.17% | 602,444 | $6.0M | Add +0.3% |
| CEPV Cantor Equity Partners Class A | 0.15% | 525,000 | $5.4M | New |
| SAC.U Safeguard Acquisition Corp. | 0.13% | 470,100 | $4.7M | New |
| LFACU Leapfrog Acquisition Corp. | 0.13% | 442,114 | $4.4M | New |
| BLRKU Bluerock Acquisition Corp. | 0.11% | 400,000 | $4.0M | New |
| IRHOU Iron Horse Acquisition II Co. | 0.11% | 400,000 | $4.0M | New |
| BLZR Trailblazer Acquisition Class A | 0.08% | 287,870 | $2.9M | No change |
| BCSS Bain Capital GSS Inv- A | 0.06% | 200,000 | $2.0M | No change |
| CCXIU Churchill Capital Corp. Xi | 0.03% | 100,000 | $1.0M | New |
| CMCSA Comcast Corp. Class A | 0.01% | 13,917 | $416K | New |
Other holdings (4): bonds, preferreds, convertibles and warrants · $4.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RNGTW Range Capital Acquisition Co. | *W EXP 09/29/203 | 349,950 | $2.3M | New |
| LATAW Galata Acquisition Corp. - 30 | *W EXP 09/12/203 | 200,814 | $1.2M | Add +0.4% |
| BLZRW Trailblazer Acqui Corp. -30 | *W EXP 09/30/203 | 95,956 | $960K | No change |
| BCSS.WS Bain Capital GSS Investment | *W EXP 01/01/202 | 40,000 | $174K | No change |
Total filed on the 13F, all lines: $3.5B.
Portfolio Sells Q3 2025 → Q4 2025
| RACE Ferrari NV | Sold out | 0.00% | −5.87 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −5.75 |
| LIN Linde PLC | Sold out | 0.00% | −4.77 |
| RPM RPM International Inc. | Sold out | 0.00% | −3.90 |
| GIS General Mills Inc. | Reduce -19.2% | 6.24% | −3.22 |
| DAR Darling Ingredients Inc. | Sold out | 0.00% | −3.20 |
| DD Dupont DE Nemours Inc. | Sold out | 0.00% | −3.10 |
| MDLZ Mondelez International Inc. Class A | Sold out | 0.00% | −2.86 |
| TMUS T-Mobile US Inc. | Reduce -71.2% | 0.78% | −2.83 |
| APD Air Products & Chemicals Inc. | Sold out | 0.00% | −2.61 |
| CRH CRH PLC | Sold out | 0.00% | −2.49 |
| ADM Archer-Daniels-Midland Co. | Sold out | 0.00% | −2.40 |
| COO The Cooper Cos Inc. | Sold out | 0.00% | −1.92 |
| ECL Ecolab Inc. | Sold out | 0.00% | −1.76 |
| CTVA Corteva Inc. | Sold out | 0.00% | −1.73 |
| ONON On Holding AG Class A | Sold out | 0.00% | −1.41 |
| AGCO Agco Corp. | Sold out | 0.00% | −1.39 |
| MO Altria Group Inc. | Sold out | 0.00% | −1.38 |
| BA The Boeing Co. | Sold out | 0.00% | −1.35 |
| FLY Firefly Aerospace Inc. | Sold out | 0.00% | −1.23 |
| LLY Eli Lilly & Co. | Reduce -75.3% | 0.53% | −1.19 |
| ILMN Illumina Inc. | Reduce -56.5% | 1.10% | −0.97 |
| BIO Bio-Rad Laboratories-A | Sold out | 0.00% | −0.90 |
| MAR Marriott International Class A | Sold out | 0.00% | −0.83 |
| SBAC SBA Communications Corp. | Sold out | 0.00% | −0.82 |
| AIRO Airo Group Holdings Inc. | Sold out | 0.00% | −0.63 |
| GEHC GE Healthcare Technology | Reduce -32.3% | 1.18% | −0.63 |
| ESI Element Solutions Inc. | Sold out | 0.00% | −0.58 |
| TOST Toast Inc. Class A | Sold out | 0.00% | −0.37 |
| MOS The Mosaic Co. | Sold out | 0.00% | −0.35 |
| FIS Fidelity National Info Serv | Sold out | 0.00% | −0.33 |
| WLK Westlake Corp. | Sold out | 0.00% | −0.27 |
| V Visa Inc. Class A | Reduce -25.9% | 0.54% | −0.26 |
| EVEX Eve Holding Inc. | Sold out | 0.00% | −0.17 |
| CF CF Industries Holdings Inc. | Sold out | 0.00% | −0.14 |
| NOV Nov Inc. | Sold out | 0.00% | −0.07 |
| CAG Conagra Brands Inc. | Sold out | 0.00% | −0.06 |
| FLO Flowers Foods Inc. | Sold out | 0.00% | −0.06 |
| HAL Halliburton Co. | Sold out | 0.00% | −0.05 |
| LYB Lyondellbasell Indu Class A | Sold out | 0.00% | −0.05 |
| AVAV Aerovironment Inc. | Sold out | 0.00% | −0.05 |
| WU Western Union Co. | Sold out | 0.00% | −0.05 |
| MTDR Matador Resources Co. | Sold out | 0.00% | −0.05 |
| CNC Centene Corp. | Sold out | 0.00% | −0.04 |
| KLAR Klarna Group PLC | Sold out | 0.00% | −0.04 |
| HUN Huntsman Corp. | Sold out | 0.00% | −0.04 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.04 |
| AESI Atlas Energy Solutions Inc. | Sold out | 0.00% | −0.04 |
| WEN The Wendy's Co. | Sold out | 0.00% | −0.03 |
| CIVI Civitas Resources Inc. | Sold out | 0.00% | −0.03 |
Portfolio Buys Q3 2025 → Q4 2025
| MKC McCormick & Co.-Non VTG SHRS | New | 6.16% | +6.16 |
| FLUT Flutter Entertainment PLC-Di | Add +268.9% | 7.36% | +4.70 |
| CL Colgate-Palmolive Co. | New | 4.66% | +4.66 |
| BSX Boston Scientific Corp. | New | 4.31% | +4.31 |
| MCD McDonald's Corp. | New | 3.41% | +3.41 |
| KO The Coca-Cola Co. | Add +123.9% | 5.52% | +2.88 |
| ALC Alcon Inc. | Add +9232.7% | 2.66% | +2.63 |
| STZ Constellation Brands Inc. Class A | Add +13534.5% | 2.63% | +2.61 |
| HLT Hilton Worldwide Holdings Inc. | New | 2.57% | +2.57 |
| DHR Danaher Corp. | New | 2.37% | +2.37 |
| GE General Electric | New | 2.24% | +2.24 |
| PEP Pepsico Inc. | New | 2.24% | +2.24 |
| CHD Church & Dwight Co. Inc. | Add +300.9% | 2.64% | +1.86 |
| FRPT Freshpet Inc. | Add +18177.6% | 1.58% | +1.57 |
| CCI Crown Castle Inc. | Add +239.8% | 2.43% | +1.56 |
| SBUX Starbucks Corp. | New | 1.55% | +1.55 |
| NVT Nvent Electric PLC | New | 1.45% | +1.45 |
| QGEN Qiagen N.V. | New | 1.32% | +1.32 |
| ICLR Icon PLC | New | 1.09% | +1.09 |
| OTIS Otis Worldwide Corp. | New | 1.08% | +1.08 |
| DPZ Domino's Pizza Inc. | Add +136.5% | 1.92% | +0.97 |
| ELF Elf Beauty Inc. | Add +192.9% | 2.70% | +0.89 |
| RMD Resmed Inc. | Add +164.8% | 1.67% | +0.86 |
| JKHY Jack Henry & Associates Inc. | New | 0.85% | +0.85 |
| A Agilent Technologies Inc. | Add +39.5% | 3.39% | +0.80 |
| SRAD Sportradar Group AG-A | Add +126.3% | 1.77% | +0.77 |
| NTRA Natera Inc. | New | 0.76% | +0.76 |
| T AT&T Inc. | New | 0.71% | +0.71 |
| TRU Transunion | Add +64.4% | 1.95% | +0.64 |
| UNH Unitedhealth Group Inc. | Add +82.5% | 1.71% | +0.60 |
| GOOS Canada Goose Holdings Inc. | Add +218.7% | 0.92% | +0.57 |
| WMG Warner Music Group Corp. Class A | New | 0.55% | +0.55 |
| ROL Rollins Inc. | Add +63.3% | 1.52% | +0.49 |
| XYZ Block Inc. | New | 0.46% | +0.46 |
| SHOP Shopify Inc. Class A | New | 0.34% | +0.34 |
| ACN Accenture PLC Class A | Add +24.9% | 1.91% | +0.32 |
| AFRM Affirm Holdings Inc. | New | 0.27% | +0.27 |
| MESHU Meshflow Acquisition Corp. | New | 0.20% | +0.20 |
| RANG Range Capital Acquisition Co. | New | 0.20% | +0.20 |
| AEAQU Activate Energy Acquisition | New | 0.19% | +0.19 |
| SYK Stryker Corp. | Add +29.1% | 2.38% | +0.19 |
| DSACU Daedalus Special Acquisition | New | 0.18% | +0.18 |
| EL Estee Lauder Companies Class A | Add +21.7% | 0.83% | +0.18 |
| WH Wyndham Hotels & Resorts Inc. | Add +39.3% | 1.24% | +0.18 |
| GPACU General Purpose Acquisition | New | 0.17% | +0.17 |
| CEPV Cantor Equity Partners Class A | New | 0.15% | +0.15 |
| SAC.U Safeguard Acquisition Corp. | New | 0.13% | +0.13 |
| LFACU Leapfrog Acquisition Corp. | New | 0.13% | +0.13 |
| BLRKU Bluerock Acquisition Corp. | New | 0.11% | +0.11 |
| IRHOU Iron Horse Acquisition II Co. | New | 0.11% | +0.11 |
Notes & Other Activity Q3 2025 → Q4 2025
| RNGTW Range Capital Acquisition Co. | *W EXP 09/29/203 | New | 349,950 | $2.3M |
| LATAW Galata Acquisition Corp. - 30 | *W EXP 09/12/203 | Add +0.4% | 200,814 | $1.2M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 143 | $4.9B | PG, FLUT, MDLZ, KDP, YUM |
| Q1 2026 | 64 | $4.1B | PEP, ONON, PG, HLT, MCD |
| Q4 2025 | 62 | $3.5B | FLUT, GIS, MKC, KO, CL |
| Q3 2025 | 135 | $3.1B | GIS, RACE, PG, LIN, RPM |
| Q2 2025 | 156 | $3.0B | IFF, SJM, FLUT, MDLZ, KDP |
| Q1 2025 | 189 | $2.4B | SJM, MNST, KO, APD, FLUT |
| Q4 2024 | 31 | $1.6B | KMB, CAG, KO, SJM, ECL |
| Q3 2024 | 25 | $1.5B | MDLZ, K, ALC, KMB, CLX |
| Q2 2024 | 20 | $975.9M | KO, KDP, TMO, STZ, IFF |
| Q1 2024 | 19 | $1.0B | PG, KO, KHC, IFF, ALC |