Nicolai Tangen – AKO Capital Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the AKO Capital portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 13, 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 Q2 2025, the filing reported:

New Buys – None reported

Increases – Alcon (ALC), Flutter Entertainment (FLUT), Copart, Inc. (CPRT), Equifax, Inc. (EFX), Intuit Inc. (INTU), and 7 more

Reductions – Booking Holdings Inc. Common St (BKNG), Linde (LIN), Booz Allen Hamilton Holding Cor (BAH), Cadence Design Systems, Inc. (CDNS), Zoetis Inc. (ZTS), and 7 more

Complete Exits – Accenture plc (ACN)

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

AKO Capital Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q2 2022Jun 30, 2022	MAR Marriott International	Marriott International	Buy	+10,278+1.5%	$92.86K	682,783
Q2 2022Jun 30, 2022	ACN Accenture plc	Accenture plc	Buy	+7,779+0.3%	$636.14K	2,291,153
Q2 2022Jun 30, 2022	TMO Thermo Fisher Scientific Inc	Thermo Fisher Scientific Inc	Buy	+5,962+0.5%	$658.73K	1,212,500
Q2 2022Jun 30, 2022	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+5,852+0.5%	$330.89K	1,299,274
Q2 2022Jun 30, 2022	RACE Ferrari	Ferrari	Buy	+3,044+0.3%	$175.13K	954,924
Q2 2022Jun 30, 2022	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Sell	-42,160-10.9%	$603.88K	345,275
Q2 2022Jun 30, 2022	CHTR Charter Communications, Inc.	Charter Communications, Inc.	Sell	-49,067-16.1%	$119.56K	255,191
Q2 2022Jun 30, 2022	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-131,743-74.6%	$98.16K	44,873
Q2 2022Jun 30, 2022	ZTS Zoetis Inc.	Zoetis Inc.	Sell	-277,443-16.0%	$251.17K	1,461,209
Q2 2022Jun 30, 2022	MCO Moody's Corporation	Moody's Corporation	Sell	-367,136-55.2%	$81.16K	298,402
Q2 2022Jun 30, 2022	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Sell	-390,916-10.1%	$247.24K	3,498,532
Q2 2022Jun 30, 2022	ALC Alcon	Alcon	Sell	-657,631-12.3%	$327.65K	4,690,156
Q2 2022Jun 30, 2022	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell	-759,400-38.7%	$173.07K	1,203,631
Q2 2022Jun 30, 2022	NKE Nike, Inc.	Nike, Inc.	Sell	-831,658-30.3%	$195.56K	1,913,468
Q2 2022Jun 30, 2022	EBAY eBay Inc.	eBay Inc.	Sell	-2,662,047-55.4%	$89.17K	2,139,984
Q1 2022Mar 31, 2022	DG Dollar General Corporation	Dollar General Corporation	Buy - Position Entry	+860,433	$191.56K	860,433
Q1 2022Mar 31, 2022	V Visa Inc.	Visa Inc.	Buy	+733,422+126.4%	$291.33K	1,313,661
Q1 2022Mar 31, 2022	G0176J109 Allegion	Allegion	Buy	+636,425+55.0%	$196.82K	1,792,835
Q1 2022Mar 31, 2022	EFX Equifax, Inc.	Equifax, Inc.	Buy	+415,080+25.3%	$487.81K	2,057,417
Q1 2022Mar 31, 2022	NKE Nike, Inc.	Nike, Inc.	Buy	+365,077+15.3%	$369.38K	2,745,126
Q1 2022Mar 31, 2022	ADBE Adobe Inc.	Adobe Inc.	Buy	+361,134+96.4%	$335.18K	735,652
Q1 2022Mar 31, 2022	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Buy	+165,193+4.4%	$299.29K	3,889,448
Q1 2022Mar 31, 2022	ANSS ANSYS, Inc.	ANSYS, Inc.	Buy	+163,085+47.6%	$160.67K	505,822
Q1 2022Mar 31, 2022	CHTR Charter Communications, Inc.	Charter Communications, Inc.	Buy	+135,554+80.4%	$165.98K	304,258
Q1 2022Mar 31, 2022	FICO Fair Isaac Corporation	Fair Isaac Corporation	Buy	+133,949+52.7%	$181.09K	388,211
Q1 2022Mar 31, 2022	ALC Alcon	Alcon	Buy	+26,710+0.5%	$426.08K	5,347,787
Q1 2022Mar 31, 2022	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+15,810+9.8%	$493.29K	176,616
Q1 2022Mar 31, 2022	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+15,308+1.2%	$352.23K	1,293,422
Q1 2022Mar 31, 2022	MAR Marriott International	Marriott International	Buy	+7,701+1.2%	$118.19K	672,505
Q1 2022Mar 31, 2022	RACE Ferrari	Ferrari	Buy	+4,746+0.5%	$209.10K	951,880

Page 12 of 27 • 792 total trades

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