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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
Bank of America
Bank of America
North Carolina
$736M -$184M 24 0.08% Reduced
27
Legal & General Group
Legal & General Group
United Kingdom
$729M +$3.56M 18 0.26% Increased
28
Fundsmith Investment Services
Fundsmith Investment Services
Mauritius
$690M +$45M 2 11.5% Increased
29
Select Equity Group
Select Equity Group
New York
$689M +$119M 3 2.21% Increased
30
Charles Schwab
Charles Schwab
California
$663M +$6.72M 16 0.23% Increased
31
Nuveen
Nuveen
North Carolina
$638M -$136M 17 0.25% Reduced
32
Franklin Resources
Franklin Resources
California
$600M +$27.1M 15 0.3% Increased
33
American Century Companies
American Century Companies
Missouri
$550M -$67.5M 9 0.45% Reduced
34
Pictet Asset Management (Switzerland)
Pictet Asset Management (Switzerland)
Switzerland
$533M -$12.1M 7 0.74% Reduced
35
UBS AM
UBS AM
Illinois
$532M -$18.2M 15 0.28% Reduced
36
Swiss National Bank
Swiss National Bank
Switzerland
$520M +$960K 15 0.35% Increased
37
Wells Fargo
Wells Fargo
California
$507M -$27.3M 25 0.16% Reduced
38
AKO Capital
AKO Capital
United Kingdom
$506M +$2.09M 2 7.09% Increased
39
Alecta Tjanstepension Omsesidigt
Alecta Tjanstepension Omsesidigt
Sweden
$497M +$71M 1 2.86% Increased
40
DZ Bank
DZ Bank
Germany
$456M +$292M 6 0.82% Increased
41
Deutsche Bank
Deutsche Bank
Germany
$449M +$5.73M 19 0.25% Increased
42
AllianceBernstein
AllianceBernstein
Tennessee
$436M +$73M 16 0.2% Increased
43
Capital Research Global Investors
Capital Research Global Investors
California
$425M +$3.11M 1 0.13% Increased
44
Capital International Investors
Capital International Investors
California
$411M +$10.2M 2 0.11% Increased
45
WCM Investment Management
WCM Investment Management
California
$408M -$26.5M 2 1.47% Reduced
46
UBS Group
UBS Group
Switzerland
$395M -$35.4M 26 0.16% Reduced
47
Fayez Sarofim & Co
Fayez Sarofim & Co
Texas
$373M -$11.7M 4 1.36% Reduced
48
BOI
Bank of Italy
Italy
$372M $0 1 15.75% Maintained
49
Wellington Management Group
Wellington Management Group
Massachusetts
$353M +$38M 5 0.07% Increased
50
Winslow Capital Management
Winslow Capital Management
Minnesota
$342M +$70.5M 1 1.83% Increased