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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
Pacer Advisors
Pacer Advisors
Pennsylvania
$738M -$51.6M 7 1.59% Reduced
27
Legal & General Group
Legal & General Group
United Kingdom
$672M -$24.4M 15 0.18% Reduced
28
Deutsche Bank
Deutsche Bank
Germany
$658M +$19.3M 14 0.26% Increased
29
Capital Research Global Investors
Capital Research Global Investors
California
$633M -$206M 3 0.13% Reduced
30
American Century Companies
American Century Companies
Missouri
$626M +$230M 14 0.36% Increased
31
VanEck Associates
VanEck Associates
New York
$593M -$71.5M 4 0.76% Reduced
32
Independent Franchise Partners
Independent Franchise Partners
United Kingdom
$589M +$194M 1 4.42% Increased
33
DZ Bank
DZ Bank
Germany
$578M -$24.9M 4 0.59% Reduced
34
Barclays
Barclays
United Kingdom
$551M +$164M 18 0.15% Increased
35
Wellington Management Group
Wellington Management Group
Massachusetts
$539M -$105M 6 0.1% Reduced
36
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
$490M +$18.9M 20 0.27% Increased
37
UBS AM
UBS AM
Illinois
$484M -$14.3M 13 0.11% Reduced
38
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
$481M +$191M 7 0.63% Increased
39
Capital International Investors
Capital International Investors
California
$475M +$6.53M 1 0.09% Increased
40
Select Equity Group
Select Equity Group
New York
$449M -$199M 1 1.78% Reduced
41
Massachusetts Financial Services
Massachusetts Financial Services
Massachusetts
$439M -$19.7M 2 0.14% Reduced
42
Victory Capital Management
Victory Capital Management
Texas
$388M -$62.1M 12 0.38% Reduced
43
Credit Agricole
Credit Agricole
France
$386M +$29.3M 8 1.13% Increased
44
Nuveen
Nuveen
North Carolina
$380M -$88.9M 16 0.11% Reduced
45
Pictet Asset Management
Pictet Asset Management
Switzerland
$379M -$24.8M 9 0.41% Reduced
46
Fundsmith LLP
Fundsmith LLP
United Kingdom
$366M -$16.4M 1 1.56% Reduced
47
WCM Investment Management
WCM Investment Management
California
$362M -$61.7M 2 0.85% Reduced
48
Wells Fargo
Wells Fargo
California
$361M +$104M 18 0.08% Increased
49
Banco Santander
Banco Santander
Spain
$338M +$7.39M 4 4.06% Increased
50
William Blair Investment Management
William Blair Investment Management
Illinois
$337M +$23.8M 4 0.82% Increased