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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
TIAA CREF Investment Management
TIAA CREF Investment Management
New York
$477M -$146M 12 0.3% Reduced
27
Deutsche Bank
Deutsche Bank
Germany
$474M -$74.9M 14 0.34% Reduced
28
Ameriprise
Ameriprise
Minnesota
$459M -$59.8M 11 0.26% Reduced
29
Flossbach Von Storch
Flossbach Von Storch
Germany
$448M +$4.76M 2 7.48% Increased
30
UBS AM
UBS AM
Illinois
$426M +$23.9M 10 0.46% Increased
31
Invesco
Invesco
Georgia
$422M -$92M 12 0.15% Reduced
32
VOYA Investment Management
VOYA Investment Management
Georgia
$400M -$3M 12 0.76% Reduced
33
JP Morgan Chase
JP Morgan Chase
New York
$385M +$158M 13 0.09% Increased
34
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
$363M -$53.3M 7 0.68% Reduced
35
AQR Capital Management
AQR Capital Management
Connecticut
$359M +$34.5M 11 0.55% Increased
36
APG Asset Management
APG Asset Management
Netherlands
$357M +$87.5M 6 0.63% Increased
37
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
$348M +$9.99M 13 0.19% Increased
38
ABI
Abrams Bison Investments
Maryland
$337M +$69.7M 1 36.75% Increased
39
Janus Henderson Investors US
Janus Henderson Investors US
Colorado
$326M -$101M 8 0.27% Reduced
40
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
$322M +$73.3M 14 0.18% Increased
41
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$314M -$76.4M 14 0.47% Reduced
42
Fundsmith LLP
Fundsmith LLP
United Kingdom
$304M +$101M 1 4.15% Increased
43
Jennison Associates
Jennison Associates
New York
$300M +$5.41M 2 0.32% Increased
44
GRQ
Gardner Russo & Quinn
Pennsylvania
$295M -$708K 2 2.45% Reduced
45
Lazard Asset Management
Lazard Asset Management
New York
$288M -$82.8M 3 0.57% Reduced
46
Capital World Investors
Capital World Investors
California
$285M +$63.1M 2 0.07% Increased
47
SAM
Southeastern Asset Management
Tennessee
$283M +$6.6M 1 2.71% Increased
48
Credit Suisse
Credit Suisse
Switzerland
$280M +$38.9M 13 0.27% Increased
49
AllianceBernstein
AllianceBernstein
Tennessee
$268M -$44.6M 12 0.23% Reduced
50
AL
AJO LP
Pennsylvania
$263M -$7.08M 2 1.13% Reduced