AKO Capital

Q3 2021 13F · by Patrick Hargreaves, CEO

As of: Sep 30, 2021
Filed: Nov 3, 2021
US stock: $9.6B · prev $8.9B
Positions: 25 · prev 26
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%

Moves28 since the prior filing

+13.8 pp in · −13.8 pp out

New 2 +9.33 pp
Added 11 +4.43 pp
Trimmed 12 −10.58 pp
Exited 3 −3.21 pp

The book

Concentrated · behaves like 18 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 37% a year, about 2.7 years per position

Low
Moderate
High

Top 5 positions41% of US stock

99952EUR Linde PLC/OLD trimmed−1.96 pp trimmed−1.9611.6%
BKNG Booking Holdings Inc. added+3.42 pp added+3.429.4%
ACN Accenture PLC new+7.45 pp new+7.457.5%
TMO Thermo Fisher Scientific, Inc. added+1.16 pp added+1.166.8%
GOOG Alphabet Inc. Class C added+0.01 pp added+0.016.0%

Positions25 in this filing · 3 exited


99952EURLinde PLC/OLD	11.64%	3,803,347	$1.1B	trimmed−9%	−1.96 pp	12 q
BKNGBooking Holdings Inc.	9.43%	383,420	$910M	added+57%	+3.42 pp	7 q
ACNAccenture PLC	7.45%	2,246,800	$719M	new	+7.45 pp	new
TMOThermo Fisher Scientific, Inc.	6.76%	1,142,461	$653M	added+16%	+1.16 pp	5 q
GOOGAlphabet Inc. Class C	5.98%	216,343	$577M	added+2%	+0.01 pp	13 q
EBAYeBay Inc	5.31%	7,356,250	$513M	added+2%	−0.38 pp	7 q
ALCAlcon Inc.	4.65%	5,545,418	$449M	trimmed−7%	−0.08 pp	10 q
ZTSZoetis Inc.	4.34%	2,156,300	$419M	trimmed−11%	−0.77 pp	10 q
OTISOtis Worldwide Corporation	4.09%	4,795,441	$395M	trimmed−3%	−0.48 pp	6 q
EFXEquifax, Incorporated	4.05%	1,542,628	$391M	added+13%	+0.37 pp	3 q
NKENike, Inc.	4.01%	2,662,625	$387M	trimmed−17%	−1.55 pp	13 q
ELThe Estee Lauder Companies Inc. Class A	3.74%	1,203,075	$361M	trimmed−14%	−1.25 pp	13 q
MCOMoody's Corporation	3.50%	950,897	$338M	trimmed−0%	−0.39 pp	13 q
ICEIntercontinental Exchange Inc.	3.37%	2,834,777	$325M	added+47%	+0.79 pp	5 q
VVISA Inc.	2.97%	1,285,516	$286M	trimmed−35%	−2.26 pp	13 q
DEODiageo plc	2.86%	1,431,895	$276M	added+12%	+0.09 pp	3 q
PGProcter & Gamble Company	2.82%	1,947,105	$272M	added+2%	−0.08 pp	12 q
ALLEAllegion Public Limited Company	2.73%	1,990,730	$263M	added+2%	−0.33 pp	13 q
ADBEAdobe Inc.	2.15%	359,812	$207M	trimmed−24%	−0.97 pp	7 q
RACEFerrari N.V.	2.14%	986,839	$207M	trimmed−8%	−0.34 pp	13 q
CHTRCharter Comm Inc Del CL A New	1.88%	249,743	$182M	new	+1.88 pp	new
MARMarriott International Class A	1.23%	799,021	$118M	trimmed−6%	−0.08 pp	7 q
AKXAnsys Inc	1.05%	296,549	$101M	added+2%	−0.08 pp	13 q
FICOFair Isaac Corporation	1.01%	244,257	$97M	trimmed−5%	−0.45 pp	13 q
PINSPinterest, Inc. Class A	0.84%	1,595,883	$81M	added+3%	−0.54 pp	2 q
LYFTLyft, Inc. Class A	—	−1,953,088	—	exited	−1.33 pp	—
ABEVAmbev S.a.	—	−33,058,851	—	exited	−1.28 pp	—
CLBCore Laboratories Inc.	—	−1,365,005	—	exited	−0.60 pp	—