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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
101
HSBC Holdings
HSBC Holdings
United Kingdom
$137M -$87.2M 9 0.2% Reduced
102
Antipodes Partners
Antipodes Partners
Australia
$136M -$26.9M 1 6.09% Reduced
103
Adage Capital Partners
Adage Capital Partners
Massachusetts
$131M -$49.8M 7 0.3% Reduced
104
State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System
Florida
$130M -$7.08M 11 0.36% Reduced
105
MP
MSD Partners
New York
$129M -$2.15M 1 6.53% Reduced
106
Los Angeles Capital Management
Los Angeles Capital Management
California
$128M +$93.1M 7 0.72% Increased
107
TCW Group
TCW Group
California
$127M -$6.51M 2 1.03% Reduced
108
William Blair Investment Management
William Blair Investment Management
Illinois
$126M -$12.1M 2 0.48% Reduced
109
Chevy Chase Trust
Chevy Chase Trust
Maryland
$125M -$3.52M 6 0.56% Reduced
110
Marshall Wace Asia
Marshall Wace Asia
Hong Kong
$123M +$31.2M 2 3.81% Increased
111
AAM
Ardevora Asset Management
United Kingdom
$121M -$2.81M 3 3.61% Reduced
112
Putnam Investments
Putnam Investments
Massachusetts
$120M +$782K 4 0.28% Increased
113
CI Investments Inc
CI Investments Inc
Ontario, Canada
$119M +$39.8M 2 1.37% Increased
114
Glenmede Trust
Glenmede Trust
Pennsylvania
$118M -$563K 12 0.49% Reduced
115
BOI
Bank of Italy
Italy
$117M $0 1 6.38% Maintained
116
Gabelli Funds
Gabelli Funds
New York
$116M -$12.2M 6 0.69% Reduced
117
TD Asset Management
TD Asset Management
Ontario, Canada
$115M -$9.75M 8 0.18% Reduced
118
Stonehage Fleming Financial Services
Stonehage Fleming Financial Services
Jersey
$115M -$27.8M 1 7.48% Reduced
119
Causeway Capital Management
Causeway Capital Management
California
$114M +$4.58M 1 1.22% Increased
120
Raymond James & Associates
Raymond James & Associates
Florida
$114M -$3.81M 9 0.2% Reduced
121
BNP Paribas Asset Management
BNP Paribas Asset Management
France
$113M +$13.6M 6 0.95% Increased
122
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
$112M -$4.51M 9 0.57% Reduced
123
ACM
Atlanta Capital Management
Georgia
$111M -$1.62M 2 0.57% Reduced
124
Mackenzie Financial
Mackenzie Financial
Ontario, Canada
$110M -$88.6M 6 0.28% Reduced
125
AL
AJO LP
Pennsylvania
$106M -$1.2M 3 0.49% Reduced