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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
Select Equity Group
Select Equity Group
New York
$668M -$13.1M 3 2.33% Reduced
27
Bank of America
Bank of America
North Carolina
$646M -$5.84M 25 0.08% Reduced
28
Fundsmith Investment Services
Fundsmith Investment Services
Mauritius
$612M -$899K 2 10.58% Reduced
29
Charles Schwab
Charles Schwab
California
$597M +$3.06M 16 0.21% Increased
30
Legal & General Group
Legal & General Group
United Kingdom
$596M -$55.8M 19 0.23% Reduced
31
Franklin Resources
Franklin Resources
California
$595M +$38.9M 14 0.32% Increased
32
Alecta Tjanstepension Omsesidigt
Alecta Tjanstepension Omsesidigt
Sweden
$559M +$162M 1 3.41% Increased
33
Nuveen
Nuveen
North Carolina
$539M -$19.2M 17 0.22% Reduced
34
Citadel Advisors
Citadel Advisors
Florida
$503M +$338M 17 0.11% Increased
35
Swiss National Bank
Swiss National Bank
Switzerland
$472M -$2.29M 15 0.34% Reduced
36
Pictet Asset Management (Switzerland)
Pictet Asset Management (Switzerland)
Switzerland
$470M -$29.9M 7 0.7% Reduced
37
DZ Bank
DZ Bank
Germany
$467M +$96.5M 5 0.85% Increased
38
American Century Companies
American Century Companies
Missouri
$460M -$29.7M 10 0.4% Reduced
39
Wells Fargo
Wells Fargo
California
$440M -$14.2M 24 0.14% Reduced
40
AKO Capital
AKO Capital
United Kingdom
$431M -$32.9M 2 7.12% Reduced
41
AllianceBernstein
AllianceBernstein
Tennessee
$424M +$21.4M 16 0.21% Increased
42
Lazard Asset Management
Lazard Asset Management
New York
$419M +$156M 12 0.61% Increased
43
Deutsche Bank
Deutsche Bank
Germany
$417M +$11.6M 18 0.25% Increased
44
Wellington Management Group
Wellington Management Group
Massachusetts
$399M +$63.2M 7 0.08% Increased
45
WCM Investment Management
WCM Investment Management
California
$396M -$18.2M 2 1.42% Reduced
46
UBS AM
UBS AM
Illinois
$392M -$84.5M 14 0.22% Reduced
47
Capital Research Global Investors
Capital Research Global Investors
California
$391M -$43.1M 1 0.13% Reduced
48
BOI
Bank of Italy
Italy
$382M $0 1 16.79% Maintained
49
Millennium Management
Millennium Management
New York
$371M +$93.7M 18 0.22% Increased
50
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
$364M +$114M 11 0.54% Increased