Nicolai Tangen - AKO Capital 13F Activity & Position Changes (Q1 2025)

As of Mar 31, 2025, the AKO Capital portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 14, 2025. 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 2025, the filing reported:

New Buys - Salesforce, Inc., Flutter Entertainment

Increases - Analog Devices, Inc., Alcon, Amazon.com, Inc., Booz Allen Hamilton Holding Cor, Canadian National Railway Compa, and 11 more

Reductions - Accenture plc, Booking Holdings Inc. Common St, Cadence Design Systems, Inc., GE Aerospace, Intercontinental Exchange Inc., and 3 more

Complete Exits - MSCI Inc., Procter & Gamble Company (The), Warner Music Group Corp.

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 2025	ACN Accenture plc	Accenture plc	Sell	-72,827	-5.6%	$386.50K	1,238,638
Q1 2025	ADI Analog Devices, Inc.	Analog Devices, Inc.	Buy	+76,623	+6.6%	$250.85K	1,243,847
Q1 2025	ALC Alcon	Alcon	Buy	+1,239,291	+21.1%	$672.56K	7,115,571
Q1 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+29,593	+2.1%	$273.58K	1,437,908
Q1 2025	BAH Booz Allen Hamilton Holding Cor	Booz Allen Hamilton Holding Cor	Buy	+982	+1.1%	$9.78K	93,472
Q1 2025	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Sell	-418	-0.6%	$331.94K	72,052
Q1 2025	CDNS Cadence Design Systems, Inc.	Cadence Design Systems, Inc.	Sell	-86,535	-38.6%	$34.95K	137,409
Q1 2025	CNI Canadian National Railway Compa	Canadian National Railway Compa	Buy	+8,081	+73.5%	$1.86K	19,073
Q1 2025	CPRT Copart, Inc.	Copart, Inc.	Buy	+689,683	+15.7%	$287.54K	5,081,145
Q1 2025	CRM Salesforce, Inc.	Salesforce, Inc.	Buy - Position Entry	+359,908	-	$96.58K	359,908
Q1 2025	EFX Equifax, Inc.	Equifax, Inc.	Buy	+36,659	+5.0%	$185.81K	762,905
Q1 2025	FICO Fair Isaac Corporation	Fair Isaac Corporation	Buy	+2,058	+1.4%	$277.84K	150,660
Q1 2025	FLUT Flutter Entertainment	Flutter Entertainment	Buy - Position Entry	+2,590,673	-	$571.76K	2,590,673
Q1 2025	GE GE Aerospace	GE Aerospace	Sell	-226,790	-8.4%	$493.62K	2,466,267
Q1 2025	ICE Intercontinental Exchange Inc.	Intercontinental Exchange Inc.	Sell	-323,230	-12.4%	$393.72K	2,282,427
Q1 2025	ILMN Illumina, Inc.	Illumina, Inc.	Buy	+394,428	+79.6%	$70.59K	889,714
Q1 2025	INTU Intuit Inc.	Intuit Inc.	Sell	-38,668	-6.5%	$341.26K	555,811
Q1 2025	LIN Linde	Linde	Sell	-43,071	-33.6%	$39.58K	84,991
Q1 2025	MCO Moody's Corporation	Moody's Corporation	Buy	+173,347	+26.5%	$385.00K	826,734
Q1 2025	MMC Marsh & McLennan Companies, Inc	Marsh & McLennan Companies, Inc	Buy	+58,902	+2.9%	$517.77K	2,121,730
Q1 2025	MSCI MSCI Inc.	MSCI Inc.	Sell - Position Exit	-208,903	-100.0%	$0.00	-
Q1 2025	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+107,983	+9.4%	$469.51K	1,250,718
Q1 2025	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell - Position Exit	-1,172,423	-100.0%	$0.00	-
Q1 2025	RACE Ferrari	Ferrari	Sell	-34,604	-5.6%	$248.67K	585,118
Q1 2025	TMO Thermo Fisher Scientific Inc	Thermo Fisher Scientific Inc	Buy	+19,061	+6.1%	$165.62K	332,845
Q1 2025	V Visa Inc.	Visa Inc.	Buy	+18,828	+1.1%	$622.41K	1,775,973
Q1 2025	WAT Waters Corporation	Waters Corporation	Buy	+71,836	+8.8%	$327.00K	887,215
Q1 2025	WMG Warner Music Group Corp.	Warner Music Group Corp.	Sell - Position Exit	-4,323,994	-100.0%	$0.00	-
Q1 2025	ZTS Zoetis Inc.	Zoetis Inc.	Buy	+18,022	+1.2%	$250.92K	1,523,960