In its second-quarter 13F filing for the period ending June 30, 2026, William Von Mueffling's Cantillon Capital Management reported a portfolio value of $665.11 million. The filing revealed a highly active quarter with 38 high-signal changes, characterized by a significant consolidation of the portfolio through deep cuts in share counts and several complete exits from long-held positions.
The most notable changes involved massive reductions in the firm's top holdings. Cantillon cut its stake in Broadcom (AVGO) by approximately 95%, from 4.06 million shares to just over 186,000. Despite the drastic reduction in shares, Broadcom's weight in the portfolio rose to 10.61%, making it the top holding. Similar patterns of significant share reductions paired with increased portfolio weight were observed in other top positions, including Alphabet (GOOGL), Taiwan Semiconductor (TSM), Interactive Brokers (IBKR), and Applied Materials (AMAT), suggesting strong price appreciation for these stocks during the quarter.
Beyond these major reductions, Cantillon also liquidated its entire stake in five companies. The firm exited its positions in Thermo Fisher Scientific (TMO), Aon PLC (AON), Equifax (EFX), IQVIA Holdings (IQV), and American Tower (AMT). These moves underscore a strategic shift, removing several established names and further concentrating the fund's capital in its highest-conviction technology and financial holdings.