Cantillon Capital

Q4 2015 13F · by William von Mueffling, CEO

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

+12.6 pp in · −12.6 pp out

Concentrated · behaves like 17 equal-sized positions

Moderate turnover · 49% a year, about 2.0 years per position


FISFidelity National Information Services, Inc.	9.21%	8,077,562	$490M	added0%	−2.31 pp	11 q
BIDUBaidu, Inc.	7.92%	2,228,224	$421M	added+1%	+1.43 pp	11 q
ADIAnalog Devices, Inc.	7.83%	7,522,273	$416M	added0%	−1.19 pp	11 q
unresolvedWillis Group Holdings Public	7.64%	8,369,380	$407M	added+1%	+0.37 pp	10 q
GOOGLAlphabet Inc. Class A	7.39%	504,895	$393M	new	+7.39 pp	new
ECLEcolab, Inc.	7.12%	3,310,797	$379M	added+2%	−0.49 pp	11 q
unresolvedMcGraw Hill	6.23%	3,361,766	$331M	added+75%	+2.69 pp	4 q
GOOGAlphabet Inc. Class C	5.69%	398,383	$302M	trimmed−55%	−6.15 pp	7 q
unresolvedSensata Technologies Hldng NV	5.20%	5,997,486	$276M	added0%	−0.44 pp	6 q
HOGHarley-Davidson, Inc.	5.19%	6,075,329	$276M	added0%	−1.90 pp	11 q
ICEIntercontinental Exchange Inc.	5.12%	1,062,440	$272M	added0%	−0.18 pp	5 q
CMECME Group Inc.	4.37%	2,563,605	$232M	added+60%	+1.21 pp	5 q
AAgilent Technologies Inc.	3.78%	4,804,300	$201M	new	+3.78 pp	new
AXPAmerican Express Company	2.78%	2,121,750	$148M	added0%	−0.56 pp	4 q
MSMMSC Industrial Direct Co., Inc. Class A	2.40%	2,267,714	$128M	added0%	−0.54 pp	9 q
CMPRCimpress PLC (Ireland)	2.39%	1,564,203	$127M	added0%	−0.14 pp	5 q
ZTSZoetis Inc.	2.03%	2,258,100	$108M	new	+2.03 pp	new
VVISA Inc.	1.97%	1,348,665	$105M	new	+1.97 pp	new
GWWW.W. Grainger, Inc.	1.89%	495,283	$100M	trimmed−40%	−1.89 pp	10 q
CACCCredit Acceptance Corp	1.78%	442,898	$95M	added0%	−0.07 pp	11 q
2663134DBitauto Holdings Ltd-adr	1.06%	1,996,529	$56M	added0%	−0.20 pp	6 q
ABEVAmbev S.a.	1.03%	12,335,978	$55M	added0%	−0.25 pp	9 q
unresolvedSirona Dental Systems Inc	—	−2,281,527	—	exited	−4.54 pp	—