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 | |
|---|---|---|---|---|---|---|
1
Adobe
ADBE
$109B
| $714M | 5.81% |
3,305,589
+373,515
| +13% | +$75.9M |
|
2
Charter Communications
CHTR
$17.9B
| $677M | 5.51% |
2,174,268
-8,846
| -0.4% | -$3.11M |
|
3
Microsoft
MSFT
$3.59T
| $646M | 5.26% |
7,079,132
+1,376,422
| +24% | +$126M |
|
4
Bank of America
BAC
$431B
| $635M | 5.17% |
21,187,986
+4,618,854
| +28% | +$145M |
|
5
S&P Global
SPGI
$127B
| $625M | 5.09% |
3,272,717
+734,833
| +29% | +$136M |
|
|
PX
6
DELISTED
Praxair Inc
PX
| $620M | 5.05% |
4,298,447
+84,471
| +2% | +$13.1M |
|
|
7
Applied Materials
AMAT
$391B
| $615M | 5% |
11,057,737
-4,433,463
| -29% | -$247M |
|
8
Alphabet (Google) Class C
GOOG
$4.18T
| $589M | 4.79% |
11,418,780
+2,575,840
| +29% | +$142M |
|
|
9
Southwest Airlines
LUV
$19.8B
| $588M | 4.78% |
10,259,924
+2,949,407
| +40% | +$177M |
|
|
SCHW
10
Charles Schwab
SCHW
$194B
| $556M | 4.52% |
10,645,934
+289,493
| +3% | +$15.5M |
|
|
TFCFA
11
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $509M | 4.14% |
+13,875,893
| New | +$512M |
|
|
12
Wynn Resorts
WYNN
$10.3B
| $499M | 4.06% |
+2,736,728
| New | +$473M |
|
13
UnitedHealth
UNH
$350B
| $463M | 3.77% |
2,165,874
+492,530
| +29% | +$112M |
|
14
Alibaba
BABA
$286B
| $446M | 3.63% |
2,427,697
-633,947
| -21% | -$119M |
|
|
15
Union Pacific
UNP
$183B
| $439M | 3.58% |
+3,269,058
| New | +$440M |
|
16
Canadian Pacific Kansas City
CP
$85B
| $396M | 3.22% |
11,221,690
+3,543,530
| +46% | +$128M |
|
|
ATVI
17
DELISTED
Activision Blizzard
ATVI
| $381M | 3.1% |
5,643,945
-5,407,072
| -49% | -$382M |
|
18
Salesforce
CRM
$171B
| $327M | 2.66% |
2,810,516
-70,705
| -2% | -$8.12M |
|
|
EA
19
DELISTED
Electronic Arts
EA
| $273M | 2.22% |
2,247,693
+492,389
| +28% | +$59.7M |
|
|
WP
20
DELISTED
Worldpay, Inc.
WP
| $266M | 2.16% |
3,232,051
+1,960,465
| +154% | +$156M |
|
21
Meta Platforms (Facebook)
META
$1.4T
| $265M | 2.16% |
1,661,207
-645,742
| -28% | -$116M |
|
|
22
GoDaddy
GDDY
$12.3B
| $265M | 2.16% |
4,321,581
+3,367,853
| +353% | +$190M |
|
23
Mastercard
MA
$509B
| $253M | 2.06% |
1,442,945
-682,976
| -32% | -$117M |
|
24
Cintas
CTAS
$81.6B
| $217M | 1.76% |
5,083,704
-1,058,072
| -17% | -$43.9M |
|
25
TransUnion
TRU
$16.2B
| $212M | 1.73% |
3,739,456
-448,974
| -11% | -$25.9M |
|
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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.