John Armitage Egerton Capital (UK)
John Armitage is the chief investment officer of Egerton Capital, a London-based long/short equity firm. Egerton is known for fundamental research and a portfolio of high-quality global companies, often with a growth-at-a-reasonable-price tilt. Institutional investors follow the firm for its long track record in developed-market equities.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$512M |
| 2 |
Wynn Resorts
WYNN
|
+$473M |
| 3 |
Union Pacific
UNP
|
+$440M |
| 4 |
GoDaddy
GDDY
|
+$190M |
| 5 |
Southwest Airlines
LUV
|
+$177M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Constellation Brands
STZ
|
+$396M |
| 2 |
ATVI
Activision Blizzard
ATVI
|
+$382M |
| 3 |
Equinix
EQIX
|
+$261M |
| 4 |
Applied Materials
AMAT
|
+$247M |
| 5 |
Martin Marietta Materials
MLM
|
+$202M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.5% |
| 2 | Financials | 21.3% |
| 3 | Communication Services | 18.82% |
| 4 | Industrials | 14.04% |
| 5 | Consumer Discretionary | 7.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Constellation Brands
STZ
$23.2B
| $184M | 1.5% |
808,764
-1,796,231
| -69% | -$396M |
|
27
Morgan Stanley
MS
$336B
| $169M | 1.38% |
3,136,354
-177,273
| -5% | -$9.81M |
|
28
HDFC Bank
HDB
$121B
| $166M | 1.35% |
6,727,984
-1,480,588
| -18% | -$37.3M |
|
29
Broadcom
AVGO
$1.75T
| $166M | 1.35% |
7,039,640
-4,814,400
| -41% | -$121M |
|
30
Alaska Air
ALK
$4.51B
| $53.2M | 0.43% |
858,731
-3,036,296
| -78% | -$201M |
|
31
Blackstone Mortgage Trust
BXMT
$2.41B
| $40.8M | 0.33% |
1,298,933
-72,274
| -5% | -$2.27M |
|
32
Honeywell
HON
$68.4B
| $32.6M | 0.27% |
249,538
-19,771
| -7% | -$2.74M |
|
|
33
Equinix
EQIX
$105B
| – | – |
-576,694
| Closed | -$261M |
|
|
PPLI
34
People Inc
PPLI
$2.86B
| – | – |
-1,987,243
| Closed | -$43.4M |
|
|
35
Martin Marietta Materials
MLM
$32.1B
| – | – |
-916,019
| Closed | -$202M |
|
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John Armitage's Q1 2018 Portfolio in Review
As of Q1 2018, John Armitage held 35 positions worth $12.3B, up 7.6% from $11.4B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
John Armitage deployed $562M of net new capital in Q1 2018, opening 3 new positions and adding to 13 existing holdings. Its largest new stake was Twenty-First Century Fox, Inc. Class A: 13,875,893 shares worth $509M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 28% a quarter earlier, followed by Financials and Communication Services.
On the sell side, the largest reduction was Constellation Brands, an estimated $396M trimmed.
- John Armitage's largest Q1 2018 buy was Twenty-First Century Fox, Inc. Class A: 13,875,893 shares worth $509M.
- John Armitage added most to GoDaddy in Q1 2018, an estimated $190M increase.
- John Armitage's biggest Q1 2018 reduction was Constellation Brands, cutting an estimated $396M.
- John Armitage fully exited Equinix in Q1 2018, selling an estimated $261M.
- John Armitage's ten largest holdings make up 51% of its $12.3B portfolio in Q1 2018.
- John Armitage opened 3 new positions and closed 3 in Q1 2018.
- John Armitage's portfolio value rose 7.6% quarter-over-quarter to $12.3B.
Based on Egerton Capital (UK)'s 13F filing for Q1 2018, filed 11 May 2018.