Nicolai Tangen's AKO Capital exited Canadian Pacific Kansas City Limited (CP) during 2026 Q3, according to the 13F-HR filed with the SEC on November 13, 2026, selling all 2.43M shares. The position had been worth about $210M at the prior quarter-end and carried 4.9% of the book. CP had been in the portfolio for 1 year, since the quarter ended September 30, 2025.
What did the 2026 Q3 filing report for CP?
As of September 30, 2026, from the 13F-HR filed November 13, 2026.
| Before | After | |
|---|---|---|
| Shares | 2.43M | 0 |
| Reported value | $210M | $0 |
| Portfolio weight | 4.9% | 0% |
| Held since | 2025 Q3 | sold out in 2026 Q3 |
| Quarters held | 4 |
What did Nicolai Tangen sell?
Nicolai Tangen sold 2.43M shares of CP between the quarter ended June 30, 2026 and September 30, 2026. The CP exit was the 3rd largest of the quarter's 23 position changes by percent change to portfolio.
Where does CP sit in the Nicolai Tangen portfolio?
Before the sale, CP carried 4.9% of the Nicolai Tangen portfolio, about the fund's average stock position of 6%. The largest stock position is ALC at 17.68%. Next come SUNB at 15.81% and RACE at 9.25%. The three largest stocks together are 42.74% of the book. Across the 2026 Q3 portfolio, Nicolai Tangen reported 18 stock positions, with 1 opened and 5 closed. The total portfolio value is about $3.15B, down 26% from the prior quarter.
How long has Nicolai Tangen held CP?
Nicolai Tangen held CP for 1 year, from the quarter ended September 30, 2025 to June 30, 2026. The weight peaked at 4.9% in 2026 Q2. Last quarter the fund had already cut the position by 12%, so the exit finishes a two-quarter unwind. Every reported trade is on the Nicolai Tangen CP trade history page.
FAQ
How many CP shares did Nicolai Tangen sell?
Nicolai Tangen sold all 2.43M shares of CP it reported a quarter earlier, worth about $210M.
When did Nicolai Tangen first buy CP?
Nicolai Tangen first reported CP in the quarter ended September 30, 2025.
How much of the Nicolai Tangen portfolio was CP?
CP was 4.9% of the Nicolai Tangen portfolio at the prior quarter-end, and 0% after the sale.