AKO Capital

Q1 2023 13F · by Patrick Hargreaves, CEO

As of: Mar 31, 2023
Filed: Apr 25, 2023
US stock: $6.6B · prev $6.2B
Positions: 24 · prev 23
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

+9.8 pp in · −9.8 pp out

New 2 +3.06 pp
Added 8 +6.75 pp
Trimmed 14 −4.81 pp
Exited 1 −5.03 pp

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

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

Low
Moderate
High

Top 5 positions43% of US stock

BKNG Booking Holdings Inc. trimmed+1.82 pp trimmed+1.8213.9%
ACN Accenture PLC trimmed−0.14 pp trimmed−0.148.1%
ALC Alcon Inc. added+0.87 pp added+0.877.1%
V VISA Inc. trimmed−0.47 pp trimmed−0.477.0%
ICE Intercontinental Exchange Inc. trimmed−0.61 pp trimmed−0.616.6%

Positions24 in this filing · 1 exited


BKNGBooking Holdings Inc.	13.94%	345,454	$916M	trimmed−7%	+1.82 pp	13 q
ACNAccenture PLC	8.14%	1,871,312	$535M	trimmed−3%	−0.14 pp	7 q
ALCAlcon Inc.	7.10%	6,604,162	$467M	added+17%	+0.87 pp	16 q
VVISA Inc.	6.98%	2,035,255	$459M	trimmed−8%	−0.47 pp	19 q
ICEIntercontinental Exchange Inc.	6.63%	4,174,767	$435M	trimmed−4%	−0.61 pp	11 q
MSFTMicrosoft Corp	5.77%	1,315,623	$379M	added+59%	+2.56 pp	3 q
TMOThermo Fisher Scientific, Inc.	5.39%	614,284	$354M	trimmed−5%	−0.37 pp	11 q
99952EURLinde PLC/OLD	5.11%	945,222	$336M	added+10%	+0.59 pp	18 q
FICOFair Isaac Corporation	4.00%	373,951	$263M	trimmed−4%	+0.22 pp	19 q
RACEFerrari N.V.	3.88%	941,937	$255M	trimmed−1%	+0.59 pp	19 q
AKXAnsys Inc	3.80%	751,160	$250M	added+13%	+1.21 pp	19 q
ALLEAllegion Public Limited Company	3.75%	2,309,553	$246M	trimmed−11%	−0.65 pp	19 q
OTISOtis Worldwide Corporation	3.47%	2,701,121	$228M	trimmed−4%	−0.11 pp	12 q
DGDollar General Corp.	3.28%	1,024,115	$216M	added+10%	−0.44 pp	5 q
INTUIntuit Inc	2.73%	402,964	$180M	added+24%	+0.68 pp	3 q
EFXEquifax, Incorporated	2.52%	816,735	$166M	trimmed−32%	−1.26 pp	9 q
ELThe Estee Lauder Companies Inc. Class A	2.28%	608,980	$150M	trimmed−30%	−1.23 pp	19 q
PGProcter & Gamble Company	2.22%	981,695	$146M	trimmed−4%	−0.29 pp	18 q
MCOMoody's Corporation	1.90%	408,217	$125M	added+100%	+0.98 pp	19 q
CPRTCopart Inc	1.85%	1,618,162	$122M	new	+1.85 pp	new
MARMarriott International Class A	1.60%	634,335	$105M	trimmed−4%	0.00 pp	13 q
ADBEAdobe Inc.	1.27%	216,689	$84M	trimmed−67%	−2.31 pp	13 q
URIUnited Rentals, Inc.	1.21%	200,433	$79M	new	+1.21 pp	new
ZTSZoetis Inc.	1.16%	456,040	$76M	added+26%	+0.30 pp	16 q
GOOGAlphabet Inc. Class C	—	−3,511,205	—	exited	−5.03 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001376879-23-000005
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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