Egerton Capital

Q1 2020 13F · by John Armitage, CIO

As of: Mar 31, 2020
Filed: Aug 3, 2022
US stock: $9.7B · prev $14.0B
Positions: 26 · prev 33
Options notional: $0
Documents: 1· 1 amendment

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves38 since the prior filing

+27.5 pp in · −27.5 pp out

New 5 +17.22 pp
Added 6 +10.29 pp
Trimmed 15 −10.30 pp
Exited 12 −17.23 pp

The book

Concentrated · behaves like 18 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 91% a year, about 1.1 years per position

Low
Moderate
High

Top 5 positions38% of US stock

CHTR Charter Comm Inc Del CL A New trimmed+1.43 pp trimmed+1.439.4%
AMZN Amazon.Com Inc new+8.69 pp new+8.698.7%
unresolved Canadian Pac Ry Ltd added+2.29 pp added+2.297.3%
MSFT Microsoft Corp trimmed+0.55 pp trimmed+0.556.6%
FISV Fiserv, Inc. trimmed−0.01 pp trimmed−0.016.4%

Revealed late, restated

restated 0 rows corrected by the filer · US stock 0.00%; later quarters recomputed 13F-HR/A · Aug 3, 2022 ↗

Positions26 in this filing · 12 exited


CHTRCharter Comm Inc Del CL A New	9.43%	2,091,327	$912M	trimmed−9%	+1.43 pp	7 q
AMZNAmazon.Com Inc	8.69%	431,297	$841M	new	+8.69 pp	new
unresolvedCanadian Pac Ry Ltd	7.26%	3,198,454	$702M	added+18%	+2.29 pp	15 q
MSFTMicrosoft Corp	6.58%	4,035,081	$636M	trimmed−24%	+0.55 pp	19 q
FISVFiserv, Inc.	6.38%	6,495,846	$617M	trimmed−16%	−0.01 pp	5 q
NFLXNetFlix Inc	5.72%	1,474,491	$554M	added+7%	+2.52 pp	3 q
UNPUnion Pacific Corp.	5.33%	3,655,613	$516M	trimmed−21%	−0.69 pp	9 q
ADBEAdobe Inc.	5.23%	1,591,371	$506M	trimmed−15%	+0.81 pp	13 q
BABAAlibaba Group Holding Limited	5.19%	2,584,233	$503M	trimmed−50%	−2.64 pp	11 q
99952EURLinde PLC/OLD	5.17%	2,890,209	$500M	new	+5.17 pp	new
GOOGAlphabet Inc. Class C	5.03%	418,126	$486M	added+11%	+1.43 pp	10 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	4.66%	1,808,044	$451M	trimmed−36%	−1.25 pp	2 q
METAMeta Platforms, Inc. Class A	4.26%	2,473,105	$413M	added+83%	+2.27 pp	4 q
NBISNebius Group N.V. Class A	2.47%	7,030,735	$239M	trimmed−23%	−0.37 pp	2 q
BXBlackstone Inc.	2.44%	5,176,710	$236M	trimmed−24%	−0.29 pp	3 q
DHID.R. Horton Inc.	2.10%	5,973,847	$203M	trimmed−38%	−1.56 pp	4 q
VMCVulcan Materials Company(Holding Company)	2.03%	1,818,421	$197M	trimmed−52%	−1.91 pp	6 q
MAMastercard Incorporated	1.84%	735,038	$178M	trimmed−49%	−1.26 pp	24 q
MTCHMatch Group, Inc	1.76%	2,578,886	$170M	added×3.6	+1.34 pp	2 q
AXPAmerican Express Company	1.75%	1,981,715	$170M	trimmed−39%	−1.16 pp	6 q
CCitigroup Inc.	1.30%	2,981,856	$126M	new	+1.30 pp	new
SPGIS&P Global Inc.	1.28%	505,106	$124M	trimmed−70%	−1.98 pp	16 q
KKRKKR & Co. Inc.	1.23%	5,083,695	$119M	added+34%	+0.44 pp	7 q
PGRProgressive Corporation	1.14%	1,494,060	$110M	new	+1.14 pp	new
LBBath & Body Works, Inc.	0.92%	7,667,887	$89M	new	+0.92 pp	new
MOAltria Group, Inc.	0.80%	2,009,991	$78M	trimmed−7%	+0.03 pp	2 q
TDGTransDigm Group Incorporated	—	−707,950	—	exited	−2.84 pp	—
MLMMartin Marietta Materials	—	−1,241,056	—	exited	−2.48 pp	—
TMOThermo Fisher Scientific, Inc.	—	−934,456	—	exited	−2.17 pp	—
HDBHDFC Bank Limited	—	−4,312,271	—	exited	−1.96 pp	—
CRMSalesforce, Inc.	—	−1,588,101	—	exited	−1.85 pp	—
IBNICICI Bank Limited	—	−14,119,109	—	exited	−1.53 pp	—
ADSKAutodesk Inc	—	−940,334	—	exited	−1.24 pp	—
WYNNWynn Resorts Ltd	—	−998,507	—	exited	−0.99 pp	—
AVTRAvantor, Inc.	—	−7,362,154	—	exited	−0.96 pp	—
RTNRaytheon Company	—	−480,041	—	exited	−0.76 pp	—
LKNCYLuckin Coffee Inc SP/	—	−1,124,100	—	exited	−0.32 pp	—
IQVIQVIA Holdings Inc.	—	−121,463	—	exited	−0.13 pp	—