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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
Nuveen
Nuveen
North Carolina
$862M -$23.7M 16 0.28% Reduced
27
Ninety One (UK)
Ninety One (UK)
United Kingdom
$842M +$158M 1 2.15% Increased
28
Legal & General Group
Legal & General Group
United Kingdom
$779M +$40.4M 18 0.24% Increased
29
Charles Schwab
Charles Schwab
California
$735M +$38.3M 15 0.22% Increased
30
Select Equity Group
Select Equity Group
New York
$729M +$235M 4 2.36% Increased
31
Franklin Resources
Franklin Resources
California
$708M +$89.8M 16 0.28% Increased
32
Melvin Capital Management
Melvin Capital Management
New York
$696M -$45.6M 3 7.06% Reduced
33
American Century Companies
American Century Companies
Missouri
$692M +$38.2M 9 0.47% Increased
34
Fundsmith Investment Services
Fundsmith Investment Services
Mauritius
$658M +$695M 2 9.03% Increased
35
Pictet Asset Management (Switzerland)
Pictet Asset Management (Switzerland)
Switzerland
$612M -$93.3M 9 0.69% Reduced
36
UBS AM
UBS AM
Illinois
$598M -$135M 15 0.26% Reduced
37
Swiss National Bank
Swiss National Bank
Switzerland
$570M +$51.7M 15 0.32% Increased
38
Wells Fargo
Wells Fargo
California
$562M +$72.9M 24 0.14% Increased
39
AKO Capital
AKO Capital
United Kingdom
$561M +$5.67M 2 6.06% Increased
40
AustralianSuper
AustralianSuper
Australia
$536M -$20.6M 2 2.91% Reduced
41
Parametric Portfolio Associates
Parametric Portfolio Associates
Washington
$531M -$21.5M 16 0.28% Reduced
42
WCM Investment Management
WCM Investment Management
California
$513M -$57.3M 2 1.43% Reduced
43
Capital Research Global Investors
Capital Research Global Investors
California
$503M -$44M 1 0.12% Reduced
44
Deutsche Bank
Deutsche Bank
Germany
$492M +$59.1M 18 0.23% Increased
45
Janus Henderson Group
Janus Henderson Group
$490M -$86.1M 12 0.24% Reduced
46
UBS Group
UBS Group
Switzerland
$467M -$81.1M 24 0.16% Reduced
47
Alecta Tjanstepension Omsesidigt
Alecta Tjanstepension Omsesidigt
Sweden
$454M +$138M 1 2.21% Increased
48
BOI
Bank of Italy
Italy
$451M $0 1 16.07% Maintained
49
AllianceBernstein
AllianceBernstein
Tennessee
$441M -$60.7M 14 0.17% Reduced
50
Capital International Investors
Capital International Investors
California
$431M +$23.3M 1 0.1% Increased