AKO Capital

Q1 2025 13F · by Patrick Hargreaves, CEO

As of: Mar 31, 2025
Filed: May 14, 2025
US stock: $7.7B · prev $7.2B
Positions: 26 · prev 27
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%

Moves29 since the prior filing

+10.3 pp in · −10.3 pp out

New 2 +8.67 pp
Added 16 +1.59 pp
Trimmed 8 −3.97 pp
Exited 3 −6.30 pp

The book

Concentrated · behaves like 19 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 34% a year, about 2.9 years per position

Low
Moderate
High

Top 5 positions37% of US stock

ALC Alcon Inc. added+1.84 pp added+1.848.7%
V VISA Inc. added+0.41 pp added+0.418.1%
FLUT Flutter Entertainment plc new+7.42 pp new+7.427.4%
MRSH Marsh added+0.67 pp added+0.676.7%
GE GE Aerospace trimmed+0.19 pp trimmed+0.196.4%

Positions26 in this filing · 3 exited


ALCAlcon Inc.	8.73%	7,115,571	$673M	added+21%	+1.84 pp	24 q
VVISA Inc.	8.08%	1,775,973	$622M	added+1%	+0.41 pp	27 q
FLUTFlutter Entertainment plc	7.42%	2,590,673	$572M	new	+7.42 pp	new
MRSHMarsh	6.72%	2,121,730	$518M	added+3%	+0.67 pp	8 q
GEGE Aerospace	6.40%	2,466,267	$494M	trimmed−8%	+0.19 pp	7 q
MSFTMicrosoft Corp	6.09%	1,250,718	$470M	added+9%	−0.57 pp	11 q
ICEIntercontinental Exchange Inc.	5.11%	2,282,427	$394M	trimmed−12%	−0.26 pp	19 q
ACNAccenture PLC	5.01%	1,238,638	$387M	trimmed−6%	−1.37 pp	15 q
MCOMoody's Corporation	5.00%	826,734	$385M	added+27%	+0.73 pp	27 q
INTUIntuit Inc	4.43%	555,811	$341M	trimmed−7%	−0.73 pp	11 q
BKNGBooking Holdings Inc.	4.31%	72,052	$332M	trimmed−1%	−0.67 pp	21 q
WATWaters Corp	4.24%	887,215	$327M	added+9%	+0.06 pp	7 q
CPRTCopart Inc	3.73%	5,081,145	$288M	added+16%	+0.25 pp	9 q
FICOFair Isaac Corporation	3.60%	150,660	$278M	added+1%	−0.49 pp	27 q
AMZNAmazon.Com Inc	3.55%	1,437,908	$274M	added+2%	−0.72 pp	4 q
ZTSZoetis Inc.	3.26%	1,523,960	$251M	added+1%	−0.13 pp	24 q
ADIAnalog Devices, Inc.	3.25%	1,243,847	$251M	added+7%	−0.18 pp	5 q
RACEFerrari N.V.	3.23%	585,118	$249M	trimmed−6%	−0.42 pp	27 q
EFXEquifax, Incorporated	2.41%	762,905	$186M	added+5%	−0.15 pp	17 q
TMOThermo Fisher Scientific, Inc.	2.15%	332,845	$166M	added+6%	−0.11 pp	19 q
CRMSalesforce, Inc.	1.25%	359,908	$97M	new	+1.25 pp	new
ILMNIllumina Inc	0.92%	889,714	$71M	added+80%	+0.01 pp	2 q
LINLinde plc	0.51%	84,991	$40M	trimmed−34%	−0.23 pp	8 q
CDNSCadence Design Systems	0.45%	137,409	$35M	trimmed−39%	−0.48 pp	7 q
BAHBooz Allen Hamilton Holding Corporation	0.13%	93,472	$10M	added+1%	−0.03 pp	2 q
CNICanadian National Railway	0.02%	19,073	$2M	added+74%	0.00 pp	4 q
PGProcter & Gamble Company	—	−1,172,423	—	exited	−2.72 pp	—
WMGWarner Music Group Corp. Class A	—	−4,323,994	—	exited	−1.85 pp	—
MSCIMSCI, Inc.	—	−208,903	—	exited	−1.73 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001376879-25-000005
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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