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 |
Alibaba
BABA
|
+$476M |
| 2 |
Broadcom
AVGO
|
+$196M |
| 3 |
Cooper Companies
COO
|
+$173M |
| 4 |
Applied Materials
AMAT
|
+$144M |
| 5 |
Equinix
EQIX
|
+$132M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AABA
Altaba Inc
AABA
|
+$265M |
| 2 |
Charter Communications
CHTR
|
+$220M |
| 3 |
Mohawk Industries
MHK
|
+$207M |
| 4 |
Allegion
ALLE
|
+$103M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$96.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 26.27% |
| 2 | Technology | 21.55% |
| 3 | Communication Services | 21.15% |
| 4 | Industrials | 8.4% |
| 5 | Materials | 7.46% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Comcast
CMCSA
$95.3B
| $911M | 8.14% |
23,666,488
+2,135,142
| +10% | +$84.1M |
|
|
2
Charter Communications
CHTR
$17.9B
| $904M | 8.09% |
2,488,401
-592,226
| -19% | -$220M |
|
|
3
Applied Materials
AMAT
$391B
| $881M | 7.88% |
16,919,928
+3,184,994
| +23% | +$144M |
|
4
S&P Global
SPGI
$127B
| $656M | 5.87% |
4,198,448
+34,484
| +0.8% | +$5.24M |
|
5
Constellation Brands
STZ
$23.2B
| $613M | 5.48% |
3,071,057
+353,490
| +13% | +$70M |
|
|
ATVI
6
DELISTED
Activision Blizzard
ATVI
| $584M | 5.23% |
9,059,804
-857,262
| -9% | -$53.5M |
|
7
Mastercard
MA
$509B
| $511M | 4.57% |
3,620,648
-303,118
| -8% | -$40.1M |
|
|
8
Alibaba
BABA
$286B
| $507M | 4.53% |
+2,935,794
| New | +$476M |
|
|
PX
9
DELISTED
Praxair Inc
PX
| $473M | 4.23% |
3,384,973
+655,456
| +24% | +$87.4M |
|
|
SCHW
10
Charles Schwab
SCHW
$194B
| $467M | 4.17% |
10,669,116
-52,755
| -0.5% | -$2.19M |
|
11
Meta Platforms (Facebook)
META
$1.4T
| $431M | 3.86% |
2,524,870
+651,625
| +35% | +$109M |
|
12
Bank of America
BAC
$431B
| $418M | 3.74% |
16,509,429
-82,623
| -0.5% | -$2.01M |
|
13
Microsoft
MSFT
$3.59T
| $382M | 3.42% |
5,130,833
+1,162,667
| +29% | +$84.9M |
|
14
Southwest Airlines
LUV
$19.8B
| $373M | 3.33% |
6,655,689
-937,113
| -12% | -$52.6M |
|
|
15
Broadcom
AVGO
$1.75T
| $362M | 3.24% |
14,930,240
+7,914,600
| +113% | +$196M |
|
16
Martin Marietta Materials
MLM
$32.1B
| $361M | 3.23% |
1,750,380
-217,485
| -11% | -$46M |
|
17
Alaska Air
ALK
$4.51B
| $341M | 3.05% |
4,476,494
+1,524,149
| +52% | +$125M |
|
18
JPMorgan Chase
JPM
$935B
| $232M | 2.07% |
2,424,646
-982,925
| -29% | -$90.6M |
|
|
19
Equinix
EQIX
$105B
| $217M | 1.94% |
487,173
+293,842
| +152% | +$132M |
|
20
TransUnion
TRU
$16.2B
| $216M | 1.93% |
4,574,259
+2,444,617
| +115% | +$112M |
|
21
HDFC Bank
HDB
$121B
| $216M | 1.93% |
8,965,200
-55,260
| -0.6% | -$1.31M |
|
22
Adobe
ADBE
$109B
| $199M | 1.78% |
1,335,421
+337,678
| +34% | +$50.4M |
|
23
Canadian Pacific Kansas City
CP
$85B
| $187M | 1.68% |
5,578,635
-1,068,080
| -16% | -$34M |
|
24
Morgan Stanley
MS
$336B
| $174M | 1.56% |
3,617,157
+311,102
| +9% | +$14.4M |
|
|
25
Cooper Companies
COO
$14.9B
| $168M | 1.5% |
+2,825,960
| New | +$173M |
|
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John Armitage's Q3 2017 Portfolio in Review
As of Q3 2017, John Armitage held 37 positions worth $11.2B, up 12% from $9.97B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
John Armitage deployed $689M of net new capital in Q3 2017, opening 6 new positions and adding to 14 existing holdings. Its largest new stake was Alibaba: 2,935,794 shares worth $507M.
By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 27% a quarter earlier, followed by Technology and Communication Services.
On the sell side, the largest reduction was Charter Communications, an estimated $220M trimmed.
- John Armitage's largest Q3 2017 buy was Alibaba: 2,935,794 shares worth $507M.
- John Armitage added most to Broadcom in Q3 2017, an estimated $196M increase.
- John Armitage's biggest Q3 2017 reduction was Charter Communications, cutting an estimated $220M.
- John Armitage fully exited Altaba Inc in Q3 2017, selling an estimated $265M.
- John Armitage's ten largest holdings make up 58% of its $11.2B portfolio in Q3 2017.
- John Armitage opened 6 new positions and closed 5 in Q3 2017.
- John Armitage's portfolio value rose 12% quarter-over-quarter to $11.2B.
Based on Egerton Capital (UK)'s 13F filing for Q3 2017, filed 3 Nov 2017.