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 |
Comcast
CMCSA
|
+$481M |
| 2 |
Visa
V
|
+$422M |
| 3 |
T-Mobile US
TMUS
|
+$387M |
| 4 |
Mastercard
MA
|
+$333M |
| 5 |
Vulcan Materials
VMC
|
+$308M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$642M |
| 2 |
Alibaba
BABA
|
+$570M |
| 3 |
Adobe
ADBE
|
+$499M |
| 4 |
Netflix
NFLX
|
+$226M |
| 5 |
Linde
LIN
|
+$172M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 33.42% |
| 2 | Consumer Discretionary | 19.37% |
| 3 | Financials | 14.07% |
| 4 | Industrials | 13.01% |
| 5 | Technology | 7.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
FISV
26
Fiserv Inc
FISV
$28B
| $226M | 1.39% |
2,190,709
-1,610,959
| -42% | -$160M |
|
27
Martin Marietta Materials
MLM
$32.1B
| $217M | 1.34% |
+920,500
| New | +$199M |
|
28
Boston Beer
SAM
$1.91B
| $108M | 0.67% |
+122,460
| New | +$96.7M |
|
|
ATVI
29
DELISTED
Activision Blizzard
ATVI
| $107M | 0.66% |
1,326,175
-1,504,747
| -53% | -$122M |
|
30
eBay
EBAY
$46.3B
| $104M | 0.64% |
+1,992,807
| New | +$110M |
|
31
Tractor Supply
TSCO
$18.2B
| $101M | 0.62% |
3,510,700
-108,300
| -3% | -$3.11M |
|
32
Blackstone Mortgage Trust
BXMT
$2.41B
| $87.3M | 0.54% |
3,972,692
+848,202
| +27% | +$19.9M |
|
33
Blackstone
BX
$108B
| $79.9M | 0.49% |
1,530,953
-2,297,973
| -60% | -$123M |
|
34
NVR
NVR
$16.9B
| $79.4M | 0.49% |
+19,447
| New | +$75.1M |
|
35
TSMC
TSM
$2.17T
| $34.2M | 0.21% |
+421,953
| New | +$32.1M |
|
|
36
Adobe
ADBE
$109B
| – | – |
-1,146,443
| Closed | -$499M |
|
37
Citigroup
C
$221B
| – | – |
-2,082,969
| Closed | -$106M |
|
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John Armitage's Q3 2020 Portfolio in Review
As of Q3 2020, John Armitage held 37 positions worth $16.2B, up 20% from $13.5B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
John Armitage deployed $635M of net new capital in Q3 2020, opening 9 new positions and adding to 11 existing holdings. Its largest new stake was Comcast: 11,061,725 shares worth $512M.
By sector, the portfolio is most concentrated in Communication Services at 33% of assets, up from 29% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was Amazon, an estimated $642M trimmed.
- John Armitage's largest Q3 2020 buy was Comcast: 11,061,725 shares worth $512M.
- John Armitage added most to T-Mobile US in Q3 2020, an estimated $387M increase.
- John Armitage's biggest Q3 2020 reduction was Amazon, cutting an estimated $642M.
- John Armitage fully exited Adobe in Q3 2020, selling an estimated $499M.
- John Armitage's ten largest holdings make up 54% of its $16.2B portfolio in Q3 2020.
- John Armitage opened 9 new positions and closed 2 in Q3 2020.
- John Armitage's portfolio value rose 20% quarter-over-quarter to $16.2B.
Based on Egerton Capital (UK)'s 13F filing for Q3 2020, filed 9 Nov 2020.