Nicolai Tangen - AKO Capital 13F Activity & Position Changes (Q1 2020)

According to the SEC 13F filed on Aug 12, 2026, the AKO Capital portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2020. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2020, the filing reported:

New Buys - Adobe Inc., Booking Holdings Inc. Common St, eBay Inc., Marriott International

Increases - Ambev S.A., Alcon, American Express Company, Check Point, CME Group Inc., and 7 more

Reductions - ANSYS, Inc., Edwards Lifesciences Corporatio, Fair Isaac Corporation, Allegion, Alphabet Inc., and 2 more

Complete Exits - None reported

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2020	ABEV Ambev S.A.	Ambev S.A.	Buy	+7,975,590	+20.4%	$108.25K	47,067,531
Q1 2020	ADBE Adobe Inc.	Adobe Inc.	Buy - Position Entry	+324,517	-	$103.27K	324,517
Q1 2020	ALC Alcon	Alcon	Buy	+15,442	+0.5%	$144.28K	2,824,344
Q1 2020	ANSS ANSYS, Inc.	ANSYS, Inc.	Sell	-45,086	-5.3%	$188.46K	810,662
Q1 2020	AXP American Express Company	American Express Company	Buy	+259,564	+20.5%	$130.67K	1,526,357
Q1 2020	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Buy - Position Entry	+49,443	-	$66.52K	49,443
Q1 2020	CHKP Check Point	Check Point	Buy	+776,543	+99.4%	$156.64K	1,558,021
Q1 2020	CME CME Group Inc.	CME Group Inc.	Buy	+10,219	+1.4%	$129.00K	746,059
Q1 2020	EBAY eBay Inc.	eBay Inc.	Buy - Position Entry	+5,649,338	-	$169.82K	5,649,338
Q1 2020	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+222,680	+23.7%	$185.12K	1,161,793
Q1 2020	EW Edwards Lifesciences Corporatio	Edwards Lifesciences Corporatio	Sell	-74,855	-9.0%	$142.14K	753,568
Q1 2020	FICO Fair Isaac Corporation	Fair Isaac Corporation	Sell	-51,779	-12.6%	$110.07K	357,729
Q1 2020	G0176J109 Allegion	Allegion	Sell	-108,078	-5.5%	$170.58K	1,853,751
Q1 2020	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-24,290	-13.3%	$183.58K	157,878
Q1 2020	GRFS Grifols, S.A.	Grifols, S.A.	Buy	+835,287	+6.7%	$266.69K	13,241,833
Q1 2020	MAR Marriott International	Marriott International	Buy - Position Entry	+1,458,967	-	$109.14K	1,458,967
Q1 2020	MCO Moody's Corporation	Moody's Corporation	Buy	+58,701	+12.3%	$113.58K	537,023
Q1 2020	NKE Nike, Inc.	Nike, Inc.	Sell	-1,056,035	-41.5%	$123.22K	1,489,273
Q1 2020	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+470,065	+29.2%	$228.71K	2,079,180
Q1 2020	RACE Ferrari	Ferrari	Buy	+101,747	+4.2%	$395.27K	2,552,822
Q1 2020	V Visa Inc.	Visa Inc.	Buy	+427,498	+31.3%	$288.98K	1,793,542
Q1 2020	VRSK Verisk Analytics, Inc.	Verisk Analytics, Inc.	Sell	-70,120	-7.2%	$126.01K	904,078
Q1 2020	ZTS Zoetis Inc.	Zoetis Inc.	Buy	+161,532	+13.4%	$161.13K	1,369,150