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 |
CSX Corp
CSX
|
+$427M |
| 3 |
Booking.com
BKNG
|
+$348M |
| 4 |
Tenaris
TS
|
+$252M |
| 5 |
EA
Electronic Arts
EA
|
+$233M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Charter Communications
CHTR
|
+$677M |
| 2 |
Southwest Airlines
LUV
|
+$588M |
| 3 |
Applied Materials
AMAT
|
+$448M |
| 4 |
Adobe
ADBE
|
+$215M |
| 5 |
HDFC Bank
HDB
|
+$166M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 22.36% |
| 2 | Technology | 20.33% |
| 3 | Financials | 18.25% |
| 4 | Industrials | 12.24% |
| 5 | Consumer Discretionary | 10.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TFCFA
1
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $1.33B | 10.2% |
26,833,499
+12,957,606
| +93% | +$512M |
|
2
Microsoft
MSFT
$3.59T
| $734M | 5.61% |
7,444,214
+365,082
| +5% | +$35.4M |
|
|
PX
3
DELISTED
Praxair Inc
PX
| $676M | 5.17% |
4,277,482
-20,965
| -0.5% | -$3.24M |
|
4
UnitedHealth
UNH
$350B
| $675M | 5.16% |
2,749,772
+583,898
| +27% | +$140M |
|
5
S&P Global
SPGI
$127B
| $669M | 5.11% |
3,279,421
+6,704
| +0.2% | +$1.32M |
|
6
Alibaba
BABA
$286B
| $651M | 4.97% |
3,506,268
+1,078,571
| +44% | +$206M |
|
|
7
Adobe
ADBE
$109B
| $584M | 4.47% |
2,395,418
-910,171
| -28% | -$215M |
|
8
Alphabet (Google) Class C
GOOG
$4.18T
| $583M | 4.46% |
10,453,220
-965,560
| -8% | -$52.2M |
|
|
EA
9
DELISTED
Electronic Arts
EA
| $570M | 4.36% |
4,041,717
+1,794,024
| +80% | +$233M |
|
10
Bank of America
BAC
$431B
| $559M | 4.28% |
19,842,384
-1,345,602
| -6% | -$40.1M |
|
|
ATVI
11
DELISTED
Activision Blizzard
ATVI
| $556M | 4.25% |
7,286,230
+1,642,285
| +29% | +$116M |
|
|
SCHW
12
Charles Schwab
SCHW
$194B
| $545M | 4.17% |
10,671,657
+25,723
| +0.2% | +$1.42M |
|
13
Canadian Pacific Kansas City
CP
$85B
| $511M | 3.91% |
13,964,025
+2,742,335
| +24% | +$101M |
|
14
Union Pacific
UNP
$183B
| $465M | 3.55% |
3,279,188
+10,130
| +0.3% | +$1.41M |
|
|
15
CSX Corp
CSX
$95.6B
| $441M | 3.37% |
+20,729,532
| New | +$427M |
|
16
Meta Platforms (Facebook)
META
$1.4T
| $438M | 3.35% |
2,254,063
+592,856
| +36% | +$107M |
|
17
Wynn Resorts
WYNN
$10.3B
| $375M | 2.87% |
2,240,740
-495,988
| -18% | -$91.6M |
|
|
18
Booking.com
BKNG
$158B
| $335M | 2.56% |
+4,135,950
| New | +$348M |
|
19
Mastercard
MA
$509B
| $313M | 2.4% |
1,595,167
+152,222
| +11% | +$28.6M |
|
20
Salesforce
CRM
$171B
| $276M | 2.11% |
2,027,107
-783,409
| -28% | -$99.9M |
|
|
21
Tenaris
TS
$26.6B
| $248M | 1.9% |
+6,810,741
| New | +$252M |
|
22
GoDaddy
GDDY
$12.3B
| $228M | 1.74% |
3,228,049
-1,093,532
| -25% | -$74.4M |
|
23
Constellation Brands
STZ
$23.2B
| $210M | 1.61% |
960,790
+152,026
| +19% | +$34.3M |
|
24
Cintas
CTAS
$81.6B
| $184M | 1.41% |
3,981,148
-1,102,556
| -22% | -$49.6M |
|
25
TransUnion
TRU
$16.2B
| $175M | 1.34% |
2,440,560
-1,298,896
| -35% | -$86.6M |
|
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John Armitage's Q2 2018 Portfolio in Review
As of Q2 2018, John Armitage held 37 positions worth $13.1B, up 6.4% from $12.3B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
John Armitage's Q2 2018 filing shows 5 new, 14 increased, 12 reduced and 6 closed positions. Its largest new stake was CSX Corp: 20,729,532 shares worth $441M. The largest sale was Charter Communications, an estimated $677M.
By sector, the portfolio is most concentrated in Communication Services at 22% of assets, up from 19% a quarter earlier, followed by Technology and Financials.
- John Armitage's largest Q2 2018 buy was CSX Corp: 20,729,532 shares worth $441M.
- John Armitage added most to Twenty-First Century Fox, Inc. Class A in Q2 2018, an estimated $512M increase.
- John Armitage's biggest Q2 2018 reduction was Applied Materials, cutting an estimated $448M.
- John Armitage fully exited Charter Communications in Q2 2018, selling an estimated $677M.
- John Armitage's ten largest holdings make up 54% of its $13.1B portfolio in Q2 2018.
- John Armitage opened 5 new positions and closed 6 in Q2 2018.
- John Armitage's portfolio value rose 6.4% quarter-over-quarter to $13.1B.
Based on Egerton Capital (UK)'s 13F filing for Q2 2018, filed 7 Aug 2018.