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 |
UnitedHealth
UNH
|
+$734M |
| 2 |
NBIS
Nebius Group N.V.
NBIS
|
+$340M |
| 3 |
Netflix
NFLX
|
+$323M |
| 4 |
FISV
Fiserv Inc
FISV
|
+$267M |
| 5 |
HDFC Bank
HDB
|
+$263M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$541M |
| 2 |
TIF
Tiffany & Co.
TIF
|
+$452M |
| 3 |
Union Pacific
UNP
|
+$379M |
| 4 |
Wynn Resorts
WYNN
|
+$334M |
| 5 |
Blackstone
BX
|
+$299M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 20.06% |
| 2 | Technology | 19.91% |
| 3 | Financials | 16.27% |
| 4 | Industrials | 14.58% |
| 5 | Consumer Discretionary | 12.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Charter Communications
CHTR
$17.9B
| $1.12B | 8% |
2,304,265
-375,425
| -14% | -$173M |
|
2
Alibaba
BABA
$286B
| $1.09B | 7.83% |
5,158,187
-374,136
| -7% | -$70.2M |
|
|
FISV
3
Fiserv Inc
FISV
$28B
| $892M | 6.39% |
7,714,083
+2,419,458
| +46% | +$267M |
|
4
Microsoft
MSFT
$3.59T
| $842M | 6.03% |
5,339,131
-290,810
| -5% | -$42.7M |
|
|
5
Union Pacific
UNP
$183B
| $841M | 6.02% |
4,650,459
-2,213,278
| -32% | -$379M |
|
|
6
UnitedHealth
UNH
$350B
| $825M | 5.91% |
+2,806,805
| New | +$734M |
|
7
Canadian Pacific Kansas City
CP
$85B
| $694M | 4.97% |
13,608,585
-3,969,525
| -23% | -$186M |
|
8
Adobe
ADBE
$109B
| $617M | 4.42% |
1,869,677
+127,259
| +7% | +$37.4M |
|
9
Vulcan Materials
VMC
$35.8B
| $551M | 3.94% |
3,824,262
+281,679
| +8% | +$40.3M |
|
10
D.R. Horton
DHI
$41.5B
| $512M | 3.66% |
9,700,214
+327,584
| +3% | +$17.5M |
|
|
11
Alphabet (Google) Class C
GOOG
$4.18T
| $503M | 3.6% |
7,522,560
-8,376,980
| -53% | -$541M |
|
12
S&P Global
SPGI
$127B
| $455M | 3.26% |
1,665,744
-251,737
| -13% | -$65.4M |
|
|
13
Netflix
NFLX
$331B
| $448M | 3.2% |
13,833,510
+10,893,450
| +371% | +$323M |
|
14
Mastercard
MA
$509B
| $433M | 3.1% |
1,451,641
-37,219
| -2% | -$10.5M |
|
15
American Express
AXP
$227B
| $407M | 2.91% |
3,267,224
-266,316
| -8% | -$31.8M |
|
16
TransDigm Group
TDG
$66.4B
| $396M | 2.84% |
707,950
-56,244
| -7% | -$30.8M |
|
|
NBIS
17
Nebius Group N.V.
NBIS
$59.6B
| $396M | 2.84% |
+9,106,091
| New | +$340M |
|
|
18
Blackstone
BX
$108B
| $381M | 2.73% |
6,810,012
-5,768,393
| -46% | -$299M |
|
19
Martin Marietta Materials
MLM
$32.1B
| $347M | 2.48% |
1,241,056
-493,917
| -28% | -$132M |
|
20
Thermo Fisher Scientific
TMO
$233B
| $304M | 2.17% |
934,456
+619,097
| +196% | +$188M |
|
21
Meta Platforms (Facebook)
META
$1.4T
| $278M | 1.99% |
1,352,938
-599,552
| -31% | -$116M |
|
|
22
HDFC Bank
HDB
$121B
| $273M | 1.96% |
+8,624,542
| New | +$263M |
|
23
Salesforce
CRM
$171B
| $258M | 1.85% |
1,588,101
-318,529
| -17% | -$49.9M |
|
24
ICICI Bank
IBN
$107B
| $213M | 1.53% |
+14,119,109
| New | +$192M |
|
25
Autodesk
ADSK
$53.6B
| $173M | 1.24% |
940,334
-378,823
| -29% | -$61.4M |
|
Similar funds
John Armitage's Q4 2019 Portfolio in Review
As of Q4 2019, John Armitage held 42 positions worth $14B, up 0.04% from $14B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
John Armitage withdrew a net $1.64B in Q4 2019, closing 9 positions and reducing 18 holdings. Its most notable exit was Tiffany & Co., an estimated $452M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 20% of assets, up from 20% a quarter earlier, followed by Technology and Financials.
Against the trend, John Armitage opened a new position in UnitedHealth worth $825M.
- John Armitage's largest Q4 2019 buy was UnitedHealth: 2,806,805 shares worth $825M.
- John Armitage added most to Netflix in Q4 2019, an estimated $323M increase.
- John Armitage's biggest Q4 2019 reduction was Alphabet (Google) Class C, cutting an estimated $541M.
- John Armitage fully exited Tiffany & Co. in Q4 2019, selling an estimated $452M.
- John Armitage's ten largest holdings make up 57% of its $14B portfolio in Q4 2019.
- John Armitage opened 9 new positions and closed 9 in Q4 2019.
- John Armitage's portfolio value rose 0.04% quarter-over-quarter to $14B.
Based on Egerton Capital (UK)'s 13F filing for Q4 2019, filed 13 Feb 2020.