Ilex Capital Partners (UK) LLP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Ilex Capital Partners (UK) LLP reported 64 stock positions worth $4.1 billion. Its top holding was Pepsico (PEP) at 6.1% of the portfolio, followed by On Class A (ONON, 5.5%) and Procter & Gamble (PG, 5.0%). Compared with Q4 2025, it opened 30 new positions, sold out of 28, added to 21 and reduced 11. The biggest buy was a new position in On Class A (ONON) and the biggest sale an exit from Flutter Entertainment PLC-Di (FLUT).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001985486
- Portfolio Value
- $4.1B (Q1 2026)
- SEC Filing
- 0001985486-26-000011 ↗ filed May 15, 2026
Holdings Value
Holdings 64 stocks · $4.1B
| PEP Pepsico Inc. | 6.08% | 1,588,220 | $246.6M | Add +187.9% |
| ONON On Holding AG Class A filed as ON HLDG AG | 5.52% | 6,586,000 | $224.1M | New |
| PG The Procter & Gamble Co. | 5.04% | 1,414,461 | $204.3M | New |
| HLT Hilton Worldwide Holdings Inc. | 4.65% | 620,787 | $188.8M | Add +95.8% |
| MCD McDonald's Corp. | 4.61% | 601,532 | $187.0M | Add +52.2% |
| MNST Monster Beverage Corp. | 4.25% | 2,377,910 | $172.3M | New |
| BSX Boston Scientific Corp. | 3.46% | 2,234,180 | $140.2M | Add +39.6% |
| A Agilent Technologies Inc. | 3.39% | 1,206,449 | $137.5M | Add +36.7% |
| RACE Ferrari NV | 3.34% | 405,842 | $135.5M | New |
| CMG Chipotle Mexican Grill Inc. | 3.15% | 3,995,566 | $127.9M | New |
| ARMK Aramark | 3.08% | 3,079,043 | $124.8M | New |
| WH Wyndham Hotels & Resorts Inc. | 2.79% | 1,392,756 | $113.1M | Add +139.0% |
| KHC The Kraft Heinz Co. | 2.36% | 4,260,035 | $95.8M | New |
| STZ Constellation Brands Inc. Class A | 2.33% | 630,689 | $94.6M | Reduce -6.7% |
| FRPT Freshpet Inc. | 2.31% | 1,586,297 | $93.5M | Add +73.3% |
| RMD Resmed Inc. | 2.29% | 413,855 | $92.9M | Add +68.2% |
| ALC Alcon Inc. filed as ALCON AG | 2.28% | 1,248,215 | $92.5M | Add +6.0% |
| ROL Rollins Inc. | 2.03% | 1,541,495 | $82.3M | Add +72.3% |
| GEHC GE Healthcare Technology | 1.93% | 1,098,306 | $78.2M | Add +115.2% |
| MO Altria Group Inc. | 1.85% | 1,138,725 | $75.1M | New |
| ILMN Illumina Inc. | 1.84% | 605,343 | $74.6M | Add +103.9% |
| SYK Stryker Corp. | 1.63% | 201,563 | $66.2M | Reduce -16.0% |
| GIS General Mills Inc. | 1.62% | 1,765,541 | $65.7M | Reduce -62.9% |
| NVT Nvent Electric PLC | 1.58% | 542,673 | $64.2M | Add +7.9% |
| TRU Transunion | 1.55% | 909,445 | $62.9M | Add +13.2% |
| WWD Woodward Inc. | 1.48% | 167,787 | $60.1M | New |
| CRH CRH PLC | 1.45% | 560,609 | $58.9M | New |
| MA Mastercard Inc. Class A | 1.39% | 112,593 | $56.3M | New |
| URI United Rentals Inc. | 1.36% | 75,867 | $55.3M | New |
| LLY Eli Lilly & Co. | 1.35% | 59,771 | $55.0M | Add +241.9% |
| T AT&T Inc. | 1.35% | 1,891,997 | $54.8M | Add +87.5% |
| RTX RTX Corp. | 1.18% | 247,798 | $47.8M | New |
| IQV Iqvia Holdings Inc. | 1.16% | 276,395 | $47.1M | New |
| CLX Clorox Company | 1.12% | 438,621 | $45.5M | New |
| TMO Thermo Fisher Scientific Inc. | 1.11% | 92,014 | $45.2M | New |
| UNH Unitedhealth Group Inc. | 1.01% | 151,255 | $40.9M | Reduce -17.4% |
| BYD Boyd Gaming Corp. | 0.96% | 473,595 | $38.9M | New |
| CRL Charles River Laboratories | 0.84% | 196,480 | $33.9M | New |
| TMUS T-Mobile US Inc. | 0.83% | 159,692 | $33.5M | Add +17.4% |
| ACN Accenture PLC Class A | 0.75% | 154,216 | $30.6M | Reduce -38.8% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.73% | 186,470 | $29.5M | Add +13.7% |
| SPOT Spotify Technology SA | 0.72% | 60,499 | $29.3M | New |
| XYZ Block Inc. | 0.62% | 420,515 | $25.3M | Add +66.5% |
| SBUX Starbucks Corp. | 0.60% | 270,262 | $24.2M | Reduce -58.5% |
| CCI Crown Castle Inc. | 0.55% | 273,859 | $22.3M | Reduce -71.7% |
| AFRM Affirm Holdings Inc. | 0.51% | 453,767 | $20.8M | Add +252.7% |
| GOOS Canada Goose Holdings Inc. | 0.51% | 1,873,174 | $20.5M | Reduce -25.1% |
| TEM Tempus AI Inc. Class A | 0.51% | 454,217 | $20.5M | New |
| SHOP Shopify Inc. Class A | 0.44% | 148,896 | $17.7M | Add +101.9% |
| FPS Forgent Power Solutions Class A | 0.40% | 549,002 | $16.1M | New |
| CRM Salesforce Inc. | 0.38% | 82,690 | $15.4M | New |
| FIS Fidelity National Info Serv | 0.35% | 303,759 | $14.2M | New |
| DB Deutsche Bank AG-Registered | 0.29% | 411,441 | $11.9M | New |
| SBAC SBA Communications Corp. | 0.29% | 68,582 | $11.8M | New |
| WMG Warner Music Group Corp. Class A | 0.24% | 382,415 | $9.8M | Reduce -39.7% |
| EVTL Vertical Aerospace Ltd. | 0.13% | 2,322,429 | $5.1M | New |
| CEPV Cantor Equity Partners Class A | 0.11% | 425,000 | $4.3M | Reduce -19.1% |
| SAC Safeguard Acquisition C Class A | 0.10% | 412,400 | $4.1M | Reduce -12.3% |
| IRHO Iron Horse Acquisitions Corp. | 0.10% | 400,000 | $3.9M | No change |
| LOGI Logitech International-Reg | 0.06% | 27,114 | $2.5M | New |
| CCXI Churchill Capital Corp. Class A | 0.03% | 100,000 | $1.0M | No change |
| CEPS Cantor Equity Partners Vi -A | 0.02% | 90,600 | $915K | New |
| APC Arko Petroleum Corp. | 0.02% | 44,903 | $803K | New |
| BWLP BW LPG Ltd. | 0.02% | 38,871 | $687K | New |
Other holdings (13): bonds, preferreds, convertibles and warrants · $796K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RNGTW Range Capital Acquisition Co. | *W EXP 09/29/203 | 349,950 | $116K | No change |
| AEAQW Activate Energy Acquisition | *W EXP 11/10/203 | 336,753 | $103K | No change |
| SAC.WS Safeguard Acquisition Corp. | *W EXP 99/99/999 | 235,050 | $86K | No change |
| MESHW Meshflow Acquisition Corp. | *W EXP 11/20/203 | 239,686 | $72K | Add +0.1% |
| GPACW General Purpose Acquisition | *W EXP 12/03/203 | 299,850 | $72K | No change |
| DSACW Daedalus Spec Acq -30 | *W EXP 11/24/203 | 162,500 | $67K | No change |
| LATAW Galata Acquisition Corp. - 30 | *W EXP 09/12/203 | 200,814 | $60K | No change |
| IRHOR Iron Horse Acquisiti- Rights | RIGHT 07/11/2030 | 400,000 | $57K | No change |
| LFACW Leapfrog Acquisition Corp. | *W EXP 11/10/203 | 221,057 | $55K | No change |
| BLRKW Bluerock Acquisition Corp. | *W EXP 12/12/203 | 133,333 | $39K | No change |
| BLZRW Trailblazer Acqui Corp. -30 | *W EXP 09/30/203 | 95,956 | $38K | No change |
| BCSS.WS Bain Capital GSS Investment | *W EXP 01/01/202 | 40,000 | $25K | No change |
| CCXIW Churchill Capital Corp. Xi | *W EXP 12/10/203 | 10,000 | $8K | No change |
Total filed on the 13F, all lines: $4.1B.
Portfolio Sells Q4 2025 → Q1 2026
| FLUT Flutter Entertainment PLC-Di | Sold out | 0.00% | −7.36 |
| MKC McCormick & Co.-Non VTG SHRS | Sold out | 0.00% | −6.16 |
| KO The Coca-Cola Co. | Sold out | 0.00% | −5.52 |
| CL Colgate-Palmolive Co. | Sold out | 0.00% | −4.66 |
| GIS General Mills Inc. | Reduce -62.9% | 1.62% | −4.63 |
| ELF Elf Beauty Inc. | Sold out | 0.00% | −2.70 |
| CHD Church & Dwight Co. Inc. | Sold out | 0.00% | −2.64 |
| DHR Danaher Corp. | Sold out | 0.00% | −2.37 |
| GE General Electric | Sold out | 0.00% | −2.24 |
| DPZ Domino's Pizza Inc. | Sold out | 0.00% | −1.92 |
| CCI Crown Castle Inc. | Reduce -71.7% | 0.55% | −1.89 |
| SRAD Sportradar Group AG-A | Sold out | 0.00% | −1.77 |
| QGEN Qiagen N.V. | Sold out | 0.00% | −1.32 |
| ACN Accenture PLC Class A | Reduce -38.8% | 0.75% | −1.16 |
| ICLR Icon PLC | Sold out | 0.00% | −1.09 |
| OTIS Otis Worldwide Corp. | Sold out | 0.00% | −1.08 |
| SBUX Starbucks Corp. | Reduce -58.5% | 0.60% | −0.95 |
| EL Estee Lauder Companies Class A | Sold out | 0.00% | −0.83 |
| NTRA Natera Inc. | Sold out | 0.00% | −0.76 |
| SYK Stryker Corp. | Reduce -16.0% | 1.63% | −0.75 |
| UNH Unitedhealth Group Inc. | Reduce -17.4% | 1.01% | −0.70 |
| GPN Global Payments Inc. | Sold out | 0.00% | −0.55 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.54 |
| GOOS Canada Goose Holdings Inc. | Reduce -25.1% | 0.51% | −0.41 |
| WMG Warner Music Group Corp. Class A | Reduce -39.7% | 0.24% | −0.31 |
| STZ Constellation Brands Inc. Class A | Reduce -6.7% | 2.33% | −0.30 |
| MESHU Meshflow Acquisition Corp. | Sold out | 0.00% | −0.20 |
| RANG Range Capital Acquisition Co. | Sold out | 0.00% | −0.20 |
| AEAQU Activate Energy Acquisition | Sold out | 0.00% | −0.19 |
| DSACU Daedalus Special Acquisition | Sold out | 0.00% | −0.18 |
| GPACU General Purpose Acquisition | Sold out | 0.00% | −0.17 |
| LATA Galata Acqu Corp. II Class A | Sold out | 0.00% | −0.17 |
| LFACU Leapfrog Acquisition Corp. | Sold out | 0.00% | −0.13 |
| BLRKU Bluerock Acquisition Corp. | Sold out | 0.00% | −0.11 |
| BLZR Trailblazer Acquisition Class A | Sold out | 0.00% | −0.08 |
| BCSS Bain Capital GSS Inv- A | Sold out | 0.00% | −0.06 |
| CEPV Cantor Equity Partners Class A | Reduce -19.1% | 0.11% | −0.05 |
| SAC Safeguard Acquisition C Class A | Reduce -12.3% | 0.10% | −0.03 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| ONON On Holding AG Class A | New | 5.52% | +5.52 |
| PG The Procter & Gamble Co. | New | 5.04% | +5.04 |
| MNST Monster Beverage Corp. | New | 4.25% | +4.25 |
| PEP Pepsico Inc. | Add +187.9% | 6.08% | +3.84 |
| RACE Ferrari NV | New | 3.34% | +3.34 |
| CMG Chipotle Mexican Grill Inc. | New | 3.15% | +3.15 |
| ARMK Aramark | New | 3.08% | +3.08 |
| KHC The Kraft Heinz Co. | New | 2.36% | +2.36 |
| HLT Hilton Worldwide Holdings Inc. | Add +95.8% | 4.65% | +2.08 |
| MO Altria Group Inc. | New | 1.85% | +1.85 |
| WH Wyndham Hotels & Resorts Inc. | Add +139.0% | 2.79% | +1.54 |
| WWD Woodward Inc. | New | 1.48% | +1.48 |
| CRH CRH PLC | New | 1.45% | +1.45 |
| MA Mastercard Inc. Class A | New | 1.39% | +1.39 |
| URI United Rentals Inc. | New | 1.36% | +1.36 |
| MCD McDonald's Corp. | Add +52.2% | 4.61% | +1.19 |
| RTX RTX Corp. | New | 1.18% | +1.18 |
| IQV Iqvia Holdings Inc. | New | 1.16% | +1.16 |
| CLX Clorox Company | New | 1.12% | +1.12 |
| TMO Thermo Fisher Scientific Inc. | New | 1.11% | +1.11 |
| BYD Boyd Gaming Corp. | New | 0.96% | +0.96 |
| CRL Charles River Laboratories | New | 0.84% | +0.84 |
| LLY Eli Lilly & Co. | Add +241.9% | 1.35% | +0.82 |
| GEHC GE Healthcare Technology | Add +115.2% | 1.93% | +0.74 |
| ILMN Illumina Inc. | Add +103.9% | 1.84% | +0.74 |
| FRPT Freshpet Inc. | Add +73.3% | 2.31% | +0.73 |
| SPOT Spotify Technology SA | New | 0.72% | +0.72 |
| T AT&T Inc. | Add +87.5% | 1.35% | +0.64 |
| RMD Resmed Inc. | Add +68.2% | 2.29% | +0.62 |
| ROL Rollins Inc. | Add +72.3% | 2.03% | +0.51 |
| TEM Tempus AI Inc. Class A | New | 0.51% | +0.51 |
| FPS Forgent Power Solutions Class A | New | 0.40% | +0.40 |
| CRM Salesforce Inc. | New | 0.38% | +0.38 |
| FIS Fidelity National Info Serv | New | 0.35% | +0.35 |
| DB Deutsche Bank AG-Registered | New | 0.29% | +0.29 |
| SBAC SBA Communications Corp. | New | 0.29% | +0.29 |
| AFRM Affirm Holdings Inc. | Add +252.7% | 0.51% | +0.24 |
| XYZ Block Inc. | Add +66.5% | 0.62% | +0.16 |
| NVT Nvent Electric PLC | Add +7.9% | 1.58% | +0.13 |
| EVTL Vertical Aerospace Ltd. | New | 0.13% | +0.13 |
| SHOP Shopify Inc. Class A | Add +101.9% | 0.44% | +0.10 |
| LOGI Logitech International-Reg | New | 0.06% | +0.06 |
| TMUS T-Mobile US Inc. | Add +17.4% | 0.83% | +0.05 |
| CEPS Cantor Equity Partners Vi -A | New | 0.02% | +0.02 |
| APC Arko Petroleum Corp. | New | 0.02% | +0.02 |
| BWLP BW LPG Ltd. | New | 0.02% | +0.02 |
| A Agilent Technologies Inc. | Add +36.7% | 3.39% | −0.00 |
| JKHY Jack Henry & Associates Inc. | Add +13.7% | 0.73% | −0.12 |
| ALC Alcon Inc. | Add +6.0% | 2.28% | −0.38 |
| TRU Transunion | Add +13.2% | 1.55% | −0.40 |
Notes & Other Activity Q4 2025 → Q1 2026
| MESHW Meshflow Acquisition Corp. | *W EXP 11/20/203 | Add +0.1% | 239,686 | $72K |
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 |