Cantillon Capital

Q2 2020 13F · by William von Mueffling, CEO

As of: Jun 30, 2020
Filed: Jul 31, 2020
US stock: $11.5B · prev $9.0B
Positions: 36 · prev 36
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%

Moves37 since the prior filing

+2.5 pp in · −2.5 pp out

New 1 +2.36 pp
Added 35 +0.18 pp
Trimmed 0 0.00 pp
Exited 1 −2.55 pp

The book

Focused · behaves like 28 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 8.0% a year, about 12.5 years per position

Low
Moderate
High

Top 5 positions27% of US stock

SPGI S&P Global Inc. added+0.47 pp added+0.477.5%
ADI Analog Devices, Inc. added+0.42 pp added+0.425.3%
FIS Fidelity National Information Services, Inc. added−0.68 pp added−0.684.8%
AMT American Tower Corporation added−0.30 pp added−0.304.7%
V VISA Inc. added−0.22 pp added−0.224.4%

Positions36 in this filing · 1 exited


SPGIS&P Global Inc.	7.55%	2,638,926	$869M	added+1%	+0.47 pp	17 q
ADIAnalog Devices, Inc.	5.32%	4,990,949	$612M	added+1%	+0.42 pp	29 q
FISFidelity National Information Services, Inc.	4.77%	4,093,145	$549M	added+1%	−0.68 pp	29 q
AMTAmerican Tower Corporation	4.71%	2,098,625	$543M	added+1%	−0.30 pp	18 q
VVISA Inc.	4.39%	2,614,580	$505M	added+1%	−0.22 pp	19 q
GOOGLAlphabet Inc. Class A	4.18%	339,104	$481M	added+1%	−0.14 pp	19 q
WTWWillis Towers Watson Public Limited Company	4.05%	2,369,569	$467M	added+1%	−0.36 pp	18 q
ECLEcolab, Inc.	3.85%	2,225,634	$443M	added+1%	+0.05 pp	29 q
ICEIntercontinental Exchange Inc.	3.57%	4,481,010	$410M	added+1%	−0.39 pp	23 q
ZTSZoetis Inc.	3.52%	2,953,392	$405M	added+1%	−0.28 pp	19 q
EFXEquifax, Incorporated	3.45%	2,313,199	$398M	added+1%	+0.42 pp	15 q
AVGOBroadcom Inc.	3.22%	1,174,830	$371M	added+1%	+0.17 pp	9 q
AAgilent Technologies Inc.	3.19%	4,157,384	$367M	added+1%	−0.07 pp	19 q
TMOThermo Fisher Scientific, Inc.	3.09%	980,848	$355M	added+1%	+0.05 pp	8 q
ADSKAutodesk Inc	2.70%	1,298,765	$311M	added+1%	+0.48 pp	3 q
VRSNVeriSign Inc	2.69%	1,498,044	$310M	added+1%	−0.26 pp	12 q
CBRECbre Group, Inc.	2.67%	6,806,916	$308M	added+1%	−0.14 pp	18 q
CMECME Group Inc.	2.62%	1,853,069	$301M	added+1%	−0.89 pp	23 q
BDXBecton, Dickinson and Co.	2.52%	1,214,279	$291M	added+1%	−0.54 pp	15 q
AONAon plc Class A	2.36%	1,411,632	$272M	new	+2.36 pp	new
FASTFastenal Co	2.32%	6,221,215	$267M	added+1%	+0.19 pp	9 q
BCBrunswick Corporation	2.31%	4,157,277	$266M	added+11%	+0.84 pp	5 q
TNETTrinet Group, Inc.	2.15%	4,064,072	$248M	added+1%	+0.47 pp	17 q
GOOGAlphabet Inc. Class C	2.09%	169,842	$240M	added+1%	−0.07 pp	25 q
AMATApplied Materials Inc	2.08%	3,968,872	$240M	added+63%	+0.84 pp	2 q
SSNCSS&C Technologies Inc	2.05%	4,182,652	$236M	added+1%	+0.05 pp	16 q
METAMeta Platforms, Inc. Class A	2.04%	1,032,789	$235M	added+1%	+0.15 pp	10 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	1.88%	3,814,765	$217M	added+1%	−0.12 pp	12 q
MCOMoody's Corporation	1.43%	600,295	$165M	added+1%	+0.04 pp	7 q
ENTGEntegris Inc	1.36%	2,660,905	$157M	added+1%	+0.05 pp	4 q
MSFTMicrosoft Corp	1.19%	674,367	$137M	added+1%	+0.03 pp	2 q
PRIPrimerica, Inc.	1.08%	1,068,871	$125M	added+8%	+0.11 pp	17 q
CACCCredit Acceptance Corp	1.06%	292,165	$122M	added+1%	+0.24 pp	29 q
IBKRInteractive Brokers Group, Inc. Class A	0.91%	2,514,083	$105M	added+1%	−0.28 pp	13 q
AWIArmstrong World Industries, Inc.	0.87%	1,281,030	$100M	added+1%	−0.24 pp	9 q
GRAW.R. Grace & Co.	0.74%	1,686,006	$86M	added+1%	+0.09 pp	2 q
unresolvedAon PLC	—	−1,398,175	—	exited	−2.55 pp	—