AKO Capital

Q2 2023 13F · by Patrick Hargreaves, CEO

As of: Jun 30, 2023
Filed: Aug 1, 2023
US stock: $6.6B · prev $6.6B
Positions: 24 · 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%

Moves26 since the prior filing

+14.3 pp in · −14.3 pp out

New 2 +9.22 pp
Added 5 +5.10 pp
Trimmed 17 −7.88 pp
Exited 2 −6.38 pp

The book

Concentrated · behaves like 18 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 54% a year, about 1.9 years per position

Low
Moderate
High

Top 5 positions40% of US stock

BKNG Booking Holdings Inc. trimmed−5.34 pp trimmed−5.348.6%
ACN Accenture PLC trimmed+0.33 pp trimmed+0.338.5%
ALC Alcon Inc. trimmed+1.03 pp trimmed+1.038.1%
LIN Linde plc new+7.18 pp new+7.187.2%
ICE Intercontinental Exchange Inc. trimmed+0.49 pp trimmed+0.497.1%

Positions24 in this filing · 2 exited


BKNGBooking Holdings Inc.	8.60%	210,652	$569M	trimmed−39%	−5.34 pp	14 q
ACNAccenture PLC	8.47%	1,815,155	$560M	trimmed−3%	+0.33 pp	8 q
ALCAlcon Inc.	8.13%	6,519,134	$538M	trimmed−1%	+1.03 pp	17 q
LINLinde plc	7.18%	1,245,704	$475M	new	+7.18 pp	new
ICEIntercontinental Exchange Inc.	7.12%	4,166,459	$471M	trimmed−0%	+0.49 pp	12 q
VVISA Inc.	6.94%	1,932,769	$459M	trimmed−5%	−0.04 pp	20 q
MSFTMicrosoft Corp	5.54%	1,076,682	$367M	trimmed−18%	−0.23 pp	4 q
RACEFerrari N.V.	4.58%	928,095	$303M	trimmed−1%	+0.70 pp	20 q
FICOFair Isaac Corporation	4.38%	357,780	$290M	trimmed−4%	+0.38 pp	20 q
AKXAnsys Inc	4.16%	832,377	$275M	added+11%	+0.36 pp	20 q
ALLEAllegion Public Limited Company	4.01%	2,210,537	$265M	trimmed−4%	+0.26 pp	20 q
MCOMoody's Corporation	3.92%	745,497	$259M	added+83%	+2.02 pp	20 q
OTISOtis Worldwide Corporation	3.48%	2,584,903	$230M	trimmed−4%	+0.01 pp	13 q
CPRTCopart Inc	3.46%	2,507,818	$229M	added+55%	+1.61 pp	2 q
INTUIntuit Inc	3.27%	471,470	$216M	added+17%	+0.54 pp	4 q
EFXEquifax, Incorporated	2.78%	782,012	$184M	trimmed−4%	+0.26 pp	10 q
TMOThermo Fisher Scientific, Inc.	2.73%	345,573	$180M	trimmed−44%	−2.66 pp	12 q
PGProcter & Gamble Company	2.16%	939,542	$143M	trimmed−4%	−0.06 pp	19 q
MRSHMarsh	2.04%	715,777	$135M	new	+2.04 pp	new
URIUnited Rentals, Inc.	1.78%	264,693	$118M	added+32%	+0.57 pp	2 q
ELThe Estee Lauder Companies Inc. Class A	1.75%	590,004	$116M	trimmed−3%	−0.53 pp	20 q
MARMarriott International Class A	1.26%	454,543	$83M	trimmed−28%	−0.34 pp	14 q
DGDollar General Corp.	1.16%	450,666	$77M	trimmed−56%	−2.12 pp	6 q
ZTSZoetis Inc.	1.14%	436,385	$75M	trimmed−4%	−0.02 pp	17 q
99952EURLinde PLC/OLD	—	−945,222	—	exited	−5.11 pp	—
ADBEAdobe Inc.	—	−216,689	—	exited	−1.27 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001376879-23-000006
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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