AKO Capital

Q1 2020 13F · by Patrick Hargreaves, CEO

As of: Mar 31, 2020
Filed: May 6, 2020
US stock: $4.7B · prev $4.6B
Positions: 25 · prev 21
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%

Moves25 since the prior filing

+9.4 pp in · −9.4 pp out

New 4 +9.46 pp
Added 14 −0.10 pp
Trimmed 7 −9.37 pp
Exited 0 0.00 pp

The book

Concentrated · behaves like 18 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 15% a year, about 6.8 years per position

Low
Moderate
High

Top 5 positions40% of US stock

99952EUR Linde PLC/OLD added+1.93 pp added+1.9314.0%
RACE Ferrari N.V. added−0.42 pp added−0.428.3%
V VISA Inc. added+0.57 pp added+0.576.1%
UTXZ RTX Corporation added−0.03 pp added−0.035.9%
GRFS Grifois, S.A. added−0.60 pp added−0.605.6%

Positions25 in this filing · 0 exited


99952EURLinde PLC/OLD	13.97%	3,772,932	$663M	added+44%	+1.93 pp	6 q
RACEFerrari N.V.	8.33%	2,552,822	$395M	added+4%	−0.42 pp	7 q
VVISA Inc.	6.09%	1,793,542	$289M	added+31%	+0.57 pp	7 q
UTXZRTX Corporation	5.93%	2,983,253	$281M	added+61%	−0.03 pp	7 q
GRFSGrifois, S.A.	5.62%	13,241,833	$267M	added+7%	−0.60 pp	7 q
PGProcter & Gamble Company	4.82%	2,079,180	$229M	added+29%	+0.50 pp	6 q
AKXAnsys Inc	3.97%	810,662	$188M	trimmed−5%	−0.77 pp	7 q
ELThe Estee Lauder Companies Inc. Class A	3.90%	1,161,793	$185M	added+24%	−0.27 pp	7 q
GOOGAlphabet Inc. Class C	3.87%	157,878	$184M	trimmed−13%	−1.37 pp	7 q
ALLEAllegion Public Limited Company	3.59%	1,853,751	$171M	trimmed−6%	−1.67 pp	7 q
EBAYeBay Inc	3.58%	5,649,338	$170M	new	+3.58 pp	new
ZTSZoetis Inc.	3.40%	1,369,150	$161M	added+13%	−0.04 pp	4 q
CHKPCheck Point Software Technologies Ltd	3.30%	1,558,021	$157M	added+99%	+1.43 pp	2 q
ALCAlcon Inc.	3.04%	2,824,344	$144M	added+1%	−0.38 pp	4 q
EWEdwards Lifesciences Corp	3.00%	753,568	$142M	trimmed−9%	−1.16 pp	7 q
AXPAmerican Express Company	2.75%	1,526,357	$131M	added+20%	−0.64 pp	7 q
CMECME Group Inc.	2.72%	746,059	$129M	added+1%	−0.46 pp	7 q
VRSKVerisk Analytics, Inc.	2.66%	904,078	$126M	trimmed−7%	−0.47 pp	5 q
NKENike, Inc.	2.60%	1,489,273	$123M	trimmed−41%	−2.95 pp	7 q
MCOMoody's Corporation	2.39%	537,023	$114M	added+12%	−0.05 pp	7 q
FICOFair Isaac Corporation	2.32%	357,729	$110M	trimmed−13%	−0.98 pp	7 q
MARMarriott International Class A	2.30%	1,458,967	$109M	new	+2.30 pp	new
ABEVAmbev S.a.	2.28%	47,067,531	$108M	added+20%	−1.64 pp	7 q
ADBEAdobe Inc.	2.18%	324,517	$103M	new	+2.18 pp	new
BKNGBooking Holdings Inc.	1.40%	49,443	$67M	new	+1.40 pp	new