Top Ten

Alphabet is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads. Google’s other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue. Sales of hardware such as Chromebooks, the Pixel smartphone, and smart homes products, which include Nest and Google Home, also contribute to other revenue. Alphabet’s operating margin has been 25%-30%, with Google at 30% and other bets operating at a loss.

Atkore manufactures and supplies metal products and electrical raceway solutions. The company offers steel tubes and pipes, electrical conduit, armoured wire and cable, cable trays, metal framing systems, and building components.  Atkore has approximately 4,000 employees and 71 manufacturing and distribution facilities worldwide.

ADP is a provider of payroll and human capital management solutions.  It has almost almost 60,000 employees and a million clients from small businesses to global companies, primarily in the US.

AutoZone is the premier seller of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in the United States. The company derives an increasing proportion of its sales from domestic commercial customers, roughly three quarters in fiscal 2020, and has a growing presence in Mexico and Brazil. AutoZone had 6,549 stores in the U.S. (5,885), Mexico (621), and Brazil (43) as of the end of fiscal 2020.

Chemometec is a Danish company which develops and manufactures patented precision cell counting and evaluation technology.  It sells to customers in the biotech, pharma and academic segments.

Hermes is a French luxury goods company, known primarily for its leather goods such as the Birkin and Kelly handbags. This segment makes up around half of its revenues, with clothes, accessories, silks and textiles being other large contributors to revenue.  It has around 300 stores across the world.

Mastercard, the American financial services multinational is the second largest payment processor in the world.  It operates in over 200 countries and 150 currencies.  Its major brands are MasterCard, Maestro and Cirrus.

Mettler-Toledo is a US incorporated, multinational manufacturer of weighing and precision instruments to the life sciences, industrial and food retail industries.  It is the market leader for weighing instrument and controls, and has around 18,000 employees globally with annual revenues in 2022 of around $4bn.

MSCI is a global provider of equity, fixed income, real estate indexes, multi-asset portfolio analysis tools, ESG and climate products.  In addition, it boasts over $1 trillion in ETF assets linked to MSCI indexes. 

Visa is the world’s largest payments processor.  Outside of China it commands a 50% share of total card payments.  In 2021 it processed over $10 trllion in purchase transactions.