AKO Capital

Q4 2021 13F · by Patrick Hargreaves, CEO

As of: Dec 31, 2021
Filed: Feb 4, 2022
US stock: $10.3B · prev $9.6B
Positions: 24 · prev 25
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

+12.1 pp in · −12.1 pp out

New 0 0.00 pp
Added 11 +12.11 pp
Trimmed 13 −11.26 pp
Exited 1 −0.84 pp

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 34% a year, about 3.0 years per position

Low
Moderate
High

Top 5 positions45% of US stock

BKNG Booking Holdings Inc. added+2.80 pp added+2.8012.2%
ACN Accenture PLC added+2.54 pp added+2.5410.0%
99952EUR Linde PLC/OLD trimmed−1.94 pp trimmed−1.949.7%
TMO Thermo Fisher Scientific, Inc. added+1.23 pp added+1.238.0%
ICE Intercontinental Exchange Inc. added+1.73 pp added+1.735.1%

Positions24 in this filing · 1 exited


BKNGBooking Holdings Inc.	12.23%	523,490	$1.3B	added+37%	+2.80 pp	8 q
ACNAccenture PLC	9.99%	2,474,492	$1.0B	added+10%	+2.54 pp	2 q
99952EURLinde PLC/OLD	9.70%	2,866,640	$996M	trimmed−25%	−1.94 pp	13 q
TMOThermo Fisher Scientific, Inc.	7.99%	1,229,899	$821M	added+8%	+1.23 pp	6 q
ICEIntercontinental Exchange Inc.	5.10%	3,828,454	$524M	added+35%	+1.73 pp	6 q
EFXEquifax, Incorporated	4.68%	1,642,337	$481M	added+6%	+0.63 pp	4 q
ELThe Estee Lauder Companies Inc. Class A	4.61%	1,278,114	$473M	added+6%	+0.87 pp	14 q
ALCAlcon Inc.	4.55%	5,321,077	$467M	trimmed−4%	−0.10 pp	11 q
GOOGAlphabet Inc. Class C	4.53%	160,806	$465M	trimmed−26%	−1.45 pp	14 q
ZTSZoetis Inc.	4.26%	1,791,968	$437M	trimmed−17%	−0.08 pp	11 q
PGProcter & Gamble Company	3.99%	2,504,218	$410M	added+29%	+1.17 pp	13 q
NKENike, Inc.	3.86%	2,380,049	$397M	trimmed−11%	−0.15 pp	14 q
DEODiageo plc	3.73%	1,738,289	$383M	added+21%	+0.87 pp	4 q
EBAYeBay Inc	3.19%	4,932,095	$328M	trimmed−33%	−2.12 pp	8 q
OTISOtis Worldwide Corporation	3.16%	3,724,255	$324M	trimmed−22%	−0.93 pp	7 q
MCOMoody's Corporation	2.72%	716,213	$280M	trimmed−25%	−0.78 pp	14 q
RACEFerrari N.V.	2.39%	947,134	$245M	trimmed−4%	+0.25 pp	14 q
ADBEAdobe Inc.	2.07%	374,518	$212M	added+4%	−0.08 pp	8 q
ALLEAllegion Public Limited Company	1.49%	1,156,410	$153M	trimmed−42%	−1.24 pp	14 q
AKXAnsys Inc	1.34%	342,737	$137M	added+16%	+0.29 pp	14 q
VVISA Inc.	1.22%	580,239	$126M	trimmed−55%	−1.75 pp	14 q
CHTRCharter Comm Inc Del CL A New	1.07%	168,704	$110M	trimmed−32%	−0.81 pp	2 q
FICOFair Isaac Corporation	1.07%	254,262	$110M	added+4%	+0.06 pp	14 q
MARMarriott International Class A	1.07%	664,804	$110M	trimmed−17%	−0.16 pp	8 q
PINSPinterest, Inc. Class A	—	−1,595,883	—	exited	−0.84 pp	—