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 |
Wells Fargo
WFC
|
+$339M |
| 2 |
DaVita
DVA
|
+$187M |
| 3 |
CF Industries
CF
|
+$171M |
| 4 |
American Airlines Group
AAL
|
+$159M |
| 5 |
Charter Communications
CHTR
|
+$158M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MON
Monsanto Co
MON
|
+$422M |
| 2 |
Booking.com
BKNG
|
+$270M |
| 3 |
ONIT
Onity Group
ONIT
|
+$217M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$177M |
| 5 |
Mastercard
MA
|
+$161M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 37.17% |
| 2 | Communication Services | 29.38% |
| 3 | Technology | 13.58% |
| 4 | Industrials | 5.42% |
| 5 | Consumer Discretionary | 3.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Wells Fargo
WFC
$254B
| $578M | 8.81% |
11,627,465
+7,268,972
| +167% | +$339M |
|
2
Walt Disney
DIS
$186B
| $565M | 8.61% |
7,057,139
-364,947
| -5% | -$28.3M |
|
3
American Express
AXP
$227B
| $497M | 7.56% |
5,515,424
-1,083,772
| -16% | -$96.8M |
|
|
TFCFA
4
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $410M | 6.25% |
12,839,375
-4,438,095
| -26% | -$145M |
|
5
Comcast
CMCSA
$95.3B
| $392M | 5.97% |
15,662,382
+90,228
| +0.6% | +$2.35M |
|
6
Visa
V
$693B
| $365M | 5.56% |
6,760,056
+2,359,460
| +54% | +$131M |
|
7
American International
AIG
$39.8B
| $331M | 5.04% |
6,618,384
+1,484,917
| +29% | +$73.8M |
|
8
Moody's
MCO
$87.2B
| $279M | 4.26% |
3,523,187
-318,162
| -8% | -$24.9M |
|
9
Qualcomm
QCOM
$169B
| $274M | 4.17% |
3,473,163
-1,362,222
| -28% | -$103M |
|
|
10
DaVita
DVA
$11.1B
| $244M | 3.72% |
3,544,846
+2,820,646
| +389% | +$187M |
|
|
GRMN
11
Garmin
GRMN
$56.9B
| $244M | 3.71% |
4,407,358
+457,401
| +12% | +$22.6M |
|
|
12
CF Industries
CF
$19.6B
| $233M | 3.55% |
4,468,060
+3,511,560
| +367% | +$171M |
|
|
13
Charter Communications
CHTR
$17.9B
| $213M | 3.24% |
1,727,819
+1,205,556
| +231% | +$158M |
|
14
Cognizant
CTSH
$27.9B
| $189M | 2.88% |
3,731,298
+306,442
| +9% | +$15.3M |
|
|
FISV
15
Fiserv Inc
FISV
$28B
| $186M | 2.83% |
6,549,168
-1,045,828
| -14% | -$29.9M |
|
16
Delta Air Lines
DAL
$54.2B
| $185M | 2.82% |
5,339,709
-415,800
| -7% | -$13.4M |
|
|
HOUS
17
DELISTED
Anywhere Real Estate
HOUS
| $182M | 2.77% |
4,182,504
+1,470,966
| +54% | +$68.6M |
|
|
18
American Airlines Group
AAL
$9.15B
| $171M | 2.6% |
+4,668,955
| New | +$159M |
|
19
Liberty Global Class A
LBTYA
$3.63B
| $155M | 2.36% |
4,507,841
-263,742
| -6% | -$9.27M |
|
20
Bank of America
BAC
$431B
| $143M | 2.17% |
8,287,491
-454,969
| -5% | -$7.65M |
|
21
Nike
NKE
$60.5B
| $142M | 2.17% |
3,851,232
+550,826
| +17% | +$20.8M |
|
22
Intercontinental Exchange
ICE
$90.5B
| $130M | 1.97% |
+3,273,950
| New | +$138M |
|
23
Liberty Global Class C
LBTYK
$3.55B
| $126M | 1.92% |
+3,832,534
| New | +$128M |
|
|
MHFI
24
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $118M | 1.8% |
+1,549,228
| New | +$121M |
|
25
Omnicom Group
OMC
$24B
| $68.3M | 1.04% |
+940,782
| New | +$69.2M |
|
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John Armitage's Q1 2014 Portfolio in Review
As of Q1 2014, John Armitage held 38 positions worth $6.57B, down 0.96% from $6.63B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
John Armitage's Q1 2014 filing shows 8 new, 12 increased, 9 reduced and 9 closed positions. Its largest new stake was American Airlines Group: 4,668,955 shares worth $171M. The largest sale was Monsanto Co, an estimated $422M.
By sector, the portfolio is most concentrated in Financials at 37% of assets, up from 32% a quarter earlier, followed by Communication Services and Technology.
- John Armitage's largest Q1 2014 buy was American Airlines Group: 4,668,955 shares worth $171M.
- John Armitage added most to Wells Fargo in Q1 2014, an estimated $339M increase.
- John Armitage's biggest Q1 2014 reduction was Twenty-First Century Fox, Inc. Class A, cutting an estimated $145M.
- John Armitage fully exited Monsanto Co in Q1 2014, selling an estimated $422M.
- John Armitage's ten largest holdings make up 60% of its $6.57B portfolio in Q1 2014.
- John Armitage opened 8 new positions and closed 9 in Q1 2014.
- John Armitage's portfolio value fell 0.96% quarter-over-quarter to $6.57B.
Based on Egerton Capital (UK)'s 13F filing for Q1 2014, filed 13 May 2014.