Nicolai Tangen's Top Holdings: Alcon AG, Amazon, and Key Portfolio Stocks as of March 31, 2026

Nicolai Tangen, managing director at AKO Capital, held a portfolio valued at $4.9 million as of March 31, 2026. His top holdings included a diverse range of stocks, with Alcon AG (ALC) leading at 13.62% allocation, followed by Amazon (AMZN) at 7.06% and Visa (V) at 7.02%. Below is a detailed breakdown of his top holdings and their performance changes from the previous period.

Nicolai Tangen's portfolio featured a strong position in Alcon AG (ALC), holding 9.32 million shares valued at $695,604. This represented a 16.93% increase in shares from the prior period, highlighting confidence in the Swiss pharmaceutical company.

Amazon (AMZN) was another significant holding, with 1.73 million shares valued at $360,551. Tangen's stake in the e-commerce giant decreased by 4.25% in terms of shares, indicating a slight reduction in exposure.

Visa (V) saw a substantial reduction in holdings, with a 25.11% decrease in shares from the prior period. Despite this, Visa still allocated 7.02% of Tangen's portfolio as of March 31, 2026.

Analog Devices (ADI) experienced a significant decline, with a 15.83% reduction in shares. This stock allocated 6.41% of the portfolio, reflecting a major shift in Tangen's position.

Ferrari (RACE) showed strong growth, with a 46.38% increase in shares. This Italian luxury automaker represented 6.08% of the portfolio, showcasing Tangen's confidence in its performance.

Intercontinental Exchange (ICE) faced a notable decrease, with a 10.39% reduction in shares. This stock allocated 5.75% of the portfolio, indicating a moderate adjustment in Tangen's strategy.

GE Aerospace (GE) saw a significant reduction, with a 24.53% decrease in shares. This industrial company held 5.54% of the portfolio, reflecting a major shift in Tangen's position.

Microsoft (MSFT) experienced a substantial decline, with a 31.22% reduction in shares. Despite this, the tech giant still allocated 5.33% of the portfolio as of March 31, 2026.

Waters Corporation (WAT) showed modest growth, with a 1.24% increase in shares. This healthcare company represented 4.76% of the portfolio, indicating steady confidence.

Cisco Systems (CSCO) represented a unique situation, as Tangen held 3.04 million shares purchased entirely in the current period (100.0% increase). This stock allocated 4.62% of the portfolio, suggesting a recent addition to his holdings.

Overall, Tangen's portfolio demonstrated a mix of strategic increases and decreases across various sectors, from pharmaceuticals and e-commerce to financial services and technology.