AKO Capital

Q2 2017 13F · by Nicolai Tangen, founder

As of: Jun 30, 2017
Filed: Aug 1, 2017
US stock: $1.1B · prev $1.1B
Positions: 17 · prev 18
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves18 since the prior filing

+3.7 pp in · −3.6 pp out

New 0 0.00 pp
Added 9 +3.65 pp
Trimmed 8 −1.26 pp
Exited 1 −2.37 pp

The book

Very concentrated · behaves like 6 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 19% a year, about 5.3 years per position

Low
Moderate
High

Top 5 positions57% of US stock

RACE Ferrari N.V. trimmed+0.16 pp trimmed+0.1636.1%
V VISA Inc. trimmed−0.19 pp trimmed−0.195.9%
EL The Estee Lauder Companies Inc. Class A added+1.78 pp added+1.785.8%
ALLE Allegion Public Limited Company trimmed−0.82 pp trimmed−0.825.0%
USB U.S. Bancorp added+1.03 pp added+1.034.6%

Positions17 in this filing · 1 exited


RACEFerrari N.V.	36.11%	4,844,596	$407M	trimmed−11%	+0.16 pp	3 q
VVISA Inc.	5.91%	710,746	$67M	trimmed−7%	−0.19 pp	3 q
ELThe Estee Lauder Companies Inc. Class A	5.79%	680,484	$65M	added+29%	+1.78 pp	3 q
ALLEAllegion Public Limited Company	5.01%	697,036	$57M	trimmed−19%	−0.82 pp	3 q
USBU.S. Bancorp	4.63%	1,006,549	$52M	added+29%	+1.03 pp	3 q
PXGBXPraxair Inc	4.54%	386,117	$51M	added+6%	+0.67 pp	3 q
NKENike, Inc.	4.47%	855,034	$50M	added+18%	+0.84 pp	3 q
FICOFair Isaac Corporation	4.43%	358,063	$50M	trimmed−3%	+0.13 pp	3 q
MARMarriott International Class A	4.33%	486,651	$49M	trimmed−13%	−0.42 pp	3 q
CTSHCognizant Technology Solutions	4.20%	713,337	$47M	added+31%	+1.29 pp	3 q
GOOGAlphabet Inc. Class C	4.16%	51,624	$47M	added+7%	+0.56 pp	3 q
MCOMoody's Corporation	3.75%	347,510	$42M	added+2%	+0.31 pp	3 q
AKXAnsys Inc	3.49%	323,266	$39M	trimmed−8%	+0.11 pp	3 q
CLColgate-Palmolive Company	3.31%	503,568	$37M	trimmed−1%	−0.02 pp	3 q
CLBCore Laboratories Inc.	2.79%	310,226	$31M	added+3%	−0.34 pp	3 q
unresolvedMonsanto Co	2.27%	216,176	$26M	trimmed−11%	−0.21 pp	3 q
GRFSGrifois, S.A.	0.83%	12,341,363	$9M	added+6%	−2.49 pp	2 q
HOGHarley-Davidson, Inc.	—	−435,298	—	exited	−2.37 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001376879-17-000006
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet