AKO Capital

Q1 2022 13F · by Patrick Hargreaves, CEO

As of: Mar 31, 2022
Filed: May 4, 2022
US stock: $9.3B · prev $10.3B
Positions: 25 · prev 24
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

+9.1 pp in · −9.1 pp out

New 1 +2.07 pp
Added 14 +7.00 pp
Trimmed 10 −9.09 pp
Exited 0 0.00 pp

The book

Concentrated · behaves like 19 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 36% a year, about 2.8 years per position

Low
Moderate
High

Top 5 positions38% of US stock

BKNG Booking Holdings Inc. trimmed−2.41 pp trimmed−2.419.8%
ACN Accenture PLC trimmed−1.68 pp trimmed−1.688.3%
TMO Thermo Fisher Scientific, Inc. trimmed−0.30 pp trimmed−0.307.7%
99952EUR Linde PLC/OLD trimmed−2.80 pp trimmed−2.806.9%
GOOG Alphabet Inc. Class C added+0.80 pp added+0.805.3%

Positions25 in this filing · 0 exited


BKNGBooking Holdings Inc.	9.82%	387,435	$910M	trimmed−26%	−2.41 pp	9 q
ACNAccenture PLC	8.31%	2,283,374	$770M	trimmed−8%	−1.68 pp	3 q
TMOThermo Fisher Scientific, Inc.	7.69%	1,206,538	$713M	trimmed−2%	−0.30 pp	7 q
99952EURLinde PLC/OLD	6.90%	1,991,704	$639M	trimmed−31%	−2.80 pp	14 q
GOOGAlphabet Inc. Class C	5.33%	176,616	$493M	added+10%	+0.80 pp	15 q
EFXEquifax, Incorporated	5.27%	2,057,417	$488M	added+25%	+0.59 pp	5 q
ICEIntercontinental Exchange Inc.	5.23%	3,668,867	$485M	trimmed−4%	+0.13 pp	7 q
ALCAlcon Inc.	4.60%	5,347,787	$426M	added+1%	+0.05 pp	12 q
NKENike, Inc.	3.99%	2,745,126	$369M	added+15%	+0.13 pp	15 q
ELThe Estee Lauder Companies Inc. Class A	3.80%	1,293,422	$352M	added+1%	−0.81 pp	15 q
DEODiageo plc	3.69%	1,681,674	$342M	trimmed−3%	−0.04 pp	5 q
ADBEAdobe Inc.	3.62%	735,652	$335M	added+96%	+1.55 pp	9 q
ZTSZoetis Inc.	3.54%	1,738,652	$328M	trimmed−3%	−0.72 pp	12 q
PGProcter & Gamble Company	3.24%	1,963,031	$300M	trimmed−22%	−0.75 pp	14 q
OTISOtis Worldwide Corporation	3.23%	3,889,448	$299M	added+4%	+0.07 pp	8 q
VVISA Inc.	3.14%	1,313,661	$291M	added×2.3	+1.92 pp	15 q
EBAYeBay Inc	2.97%	4,802,031	$275M	trimmed−3%	−0.22 pp	9 q
MCOMoody's Corporation	2.42%	665,538	$225M	trimmed−7%	−0.30 pp	15 q
RACEFerrari N.V.	2.26%	951,880	$209M	added+1%	−0.13 pp	15 q
ALLEAllegion Public Limited Company	2.12%	1,792,835	$197M	added+55%	+0.63 pp	15 q
DGDollar General Corp.	2.07%	860,433	$192M	new	+2.07 pp	new
FICOFair Isaac Corporation	1.95%	388,211	$181M	added+53%	+0.88 pp	15 q
CHTRCharter Comm Inc Del CL A New	1.79%	304,258	$166M	added+80%	+0.72 pp	3 q
AKXAnsys Inc	1.73%	505,822	$161M	added+48%	+0.39 pp	15 q
MARMarriott International Class A	1.28%	672,505	$118M	added+1%	+0.21 pp	9 q