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Luxury & Affluent Consumer

Luxury sells scarcity and heritage rather than utility, which lets prices rise faster than costs. Demand concentrates in a narrow band of very wealthy customers and in a few travelling nationalities.

40 stocks

# Name Holding Trade Value Theme
Stocks
% of
Portfolio
Status
26
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$492M +$77.2M 12 0.52% Increased
27
Deutsche Bank
Deutsche Bank
Germany
$478M -$126M 12 0.37% Reduced
28
Citadel Advisors
Citadel Advisors
Florida
$475M +$32.1M 12 0.45% Increased
29
BP
BBR Partners
New York
$468M -$2.69M 2 68.06% Reduced
30
Capital World Investors
Capital World Investors
California
$452M -$189M 2 0.13% Reduced
31
Franklin Resources
Franklin Resources
California
$430M -$18.2M 6 0.21% Reduced
32
UBS AM
UBS AM
Illinois
$406M -$105M 10 0.45% Reduced
33
Invesco
Invesco
Georgia
$403M -$16M 11 0.17% Reduced
34
Flossbach Von Storch
Flossbach Von Storch
Germany
$379M +$21.6M 2 6.59% Increased
35
Ameriprise
Ameriprise
Minnesota
$353M -$70.9M 11 0.22% Reduced
36
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
$352M -$8.44M 6 0.74% Reduced
37
HSBC Holdings
HSBC Holdings
United Kingdom
$343M -$1.12M 8 0.86% Reduced
38
GRQ
Gardner Russo & Quinn
Pennsylvania
$329M -$12.3M 2 2.97% Reduced
39
Waddell & Reed Financial
Waddell & Reed Financial
Kansas
$322M -$143M 5 0.53% Reduced
40
Putnam Investments
Putnam Investments
Massachusetts
$320M +$25.7M 7 0.72% Increased
41
AQR Capital Management
AQR Capital Management
Connecticut
$318M +$119M 11 0.64% Increased
42
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
$309M +$27.4M 13 0.2% Increased
43
WP
Wedgewood Partners
Missouri
$304M -$13.3M 1 4.43% Reduced
44
Principal Financial Group
Principal Financial Group
Iowa
$300M -$17.3M 11 0.47% Reduced
45
GC
Greenlight Capital
New York
$298M +$145M 1 4.93% Increased
46
AIG
American International Group
New York
$297M -$5.73M 13 1.3% Reduced
47
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
$293M -$1.33M 12 0.35% Reduced
48
Janus Henderson Investors US
Janus Henderson Investors US
Colorado
$291M +$73M 8 0.26% Increased
49
PCM
Pennant Capital Management
New Jersey
$287M +$6.77M 1 6.07% Increased
50
Renaissance Technologies
Renaissance Technologies
New York
$283M +$108M 12 0.68% Increased