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 |
GE HealthCare
GEHC
|
+$434M |
| 2 |
Interactive Brokers
IBKR
|
+$281M |
| 3 |
APi Group
APG
|
+$142M |
| 4 |
XYZ
Block Inc
XYZ
|
+$137M |
| 5 |
Arch Capital
ACGL
|
+$119M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Visa
V
|
+$258M |
| 2 |
HDFC Bank
HDB
|
+$190M |
| 3 |
SLB Ltd
SLB
|
+$171M |
| 4 |
Meta Platforms (Facebook)
META
|
+$161M |
| 5 |
ICICI Bank
IBN
|
+$156M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.7% |
| 2 | Industrials | 23.39% |
| 3 | Consumer Discretionary | 14.18% |
| 4 | Technology | 12.43% |
| 5 | Communication Services | 10.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Amazon
AMZN
$2.79T
| $900M | 8.7% |
4,992,216
+342,982
| +7% | +$57.3M |
|
2
Canadian Pacific Kansas City
CP
$85B
| $877M | 8.48% |
9,951,877
-1,448,339
| -13% | -$122M |
|
|
3
GE HealthCare
GEHC
$33.8B
| $792M | 7.65% |
8,706,854
+5,210,342
| +149% | +$434M |
|
4
Canadian National Railway
CNI
$78.5B
| $791M | 7.64% |
6,006,248
+697,980
| +13% | +$89.2M |
|
|
5
Visa
V
$693B
| $763M | 7.38% |
2,735,356
-933,144
| -25% | -$258M |
|
|
6
Meta Platforms (Facebook)
META
$1.4T
| $700M | 6.76% |
1,441,137
-359,908
| -20% | -$161M |
|
7
GE Aerospace
GE
$361B
| $592M | 5.72% |
4,224,874
-1,166,747
| -22% | -$137M |
|
8
Microsoft
MSFT
$3.59T
| $584M | 5.64% |
1,387,066
-333,900
| -19% | -$135M |
|
|
FISV
9
Fiserv Inc
FISV
$28B
| $542M | 5.24% |
3,392,276
-56,007
| -2% | -$8.16M |
|
10
First Citizens BancShares
FCNCA
$24.7B
| $488M | 4.72% |
298,463
-4,616
| -2% | -$6.94M |
|
11
RenaissanceRe
RNR
$13.4B
| $437M | 4.22% |
1,858,824
+217,284
| +13% | +$48.2M |
|
12
Alphabet (Google) Class C
GOOG
$4.18T
| $379M | 3.66% |
2,490,553
-972,954
| -28% | -$140M |
|
13
CRH
CRH
$63.2B
| $365M | 3.53% |
4,235,437
+842,172
| +25% | +$64.4M |
|
|
14
Interactive Brokers
IBKR
$42.5B
| $315M | 3.05% |
+11,294,788
| New | +$281M |
|
|
15
Arch Capital
ACGL
$33.9B
| $314M | 3.04% |
3,400,894
+1,403,616
| +70% | +$119M |
|
16
Booking.com
BKNG
$158B
| $293M | 2.83% |
2,020,525
-674,550
| -25% | -$96.1M |
|
17
Cenovus Energy
CVE
$60.7B
| $279M | 2.7% |
13,967,943
-225,108
| -2% | -$3.84M |
|
18
Hilton Worldwide
HLT
$73.5B
| $273M | 2.64% |
1,281,706
-20,665
| -2% | -$4.06M |
|
19
Mastercard
MA
$509B
| $181M | 1.75% |
376,093
-161,911
| -30% | -$74M |
|
|
XYZ
20
Block Inc
XYZ
$49.4B
| $161M | 1.55% |
+1,900,407
| New | +$137M |
|
|
21
APi Group
APG
$17.8B
| $160M | 1.55% |
+6,119,396
| New | +$142M |
|
|
22
ICICI Bank
IBN
$107B
| $160M | 1.55% |
6,063,550
-6,256,660
| -51% | -$156M |
|
|
23
HDFC Bank
HDB
$121B
| – | – |
-5,647,848
| Closed | -$190M |
|
24
Shell
SHEL
$257B
| – | – |
-1,173,260
| Closed | -$77.2M |
|
|
25
SLB Ltd
SLB
$79.9B
| – | – |
-3,295,155
| Closed | -$171M |
|
Similar funds
John Armitage's Q1 2024 Portfolio in Review
As of Q1 2024, John Armitage held 25 positions worth $10.3B, up 12% from $9.23B the previous quarter. Its ten largest holdings account for 68% of the portfolio.
John Armitage withdrew a net $368M in Q1 2024, closing 3 positions and reducing 13 holdings. Its most notable exit was HDFC Bank, an estimated $190M position sold in full.
By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 28% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, John Armitage opened a new position in Interactive Brokers worth $315M.
- John Armitage's largest Q1 2024 buy was Interactive Brokers: 11,294,788 shares worth $315M.
- John Armitage added most to GE HealthCare in Q1 2024, an estimated $434M increase.
- John Armitage's biggest Q1 2024 reduction was Visa, cutting an estimated $258M.
- John Armitage fully exited HDFC Bank in Q1 2024, selling an estimated $190M.
- John Armitage's ten largest holdings make up 68% of its $10.3B portfolio in Q1 2024.
- John Armitage opened 3 new positions and closed 3 in Q1 2024.
- John Armitage's portfolio value rose 12% quarter-over-quarter to $10.3B.
Based on Egerton Capital (UK)'s 13F filing for Q1 2024, filed 13 May 2024.