Egerton Capital

Q2 2020 13F · by John Armitage, CIO

As of: Jun 30, 2020
Filed: Aug 3, 2022
US stock: $13.5B · prev $9.7B
Positions: 28 · prev 26
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%

Moves32 since the prior filing

+18.5 pp in · −18.5 pp out

New 6 +14.13 pp
Added 8 +4.38 pp
Trimmed 14 −12.61 pp
Exited 4 −5.86 pp

The book

Concentrated · behaves like 20 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 43% a year, about 2.3 years per position

Low
Moderate
High

Top 5 positions37% of US stock

Revealed late, restated

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

Positions28 in this filing · 4 exited


AMZNAmazon.Com Inc	8.81%	429,649	$1.2B	trimmed−0%	+0.12 pp	2 q
CHTRCharter Comm Inc Del CL A New	8.40%	2,216,851	$1.1B	added+6%	−1.03 pp	8 q
BABAAlibaba Group Holding Limited	6.90%	4,306,251	$929M	added+67%	+1.71 pp	12 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	6.22%	2,836,863	$837M	added+57%	+1.56 pp	3 q
MSFTMicrosoft Corp	6.19%	4,092,387	$833M	added+1%	−0.39 pp	20 q
unresolvedCanadian Pac Ry Ltd	5.93%	3,128,855	$799M	trimmed−2%	−1.33 pp	16 q
PYPLPayPal Holdings, Inc.	4.83%	3,728,605	$650M	new	+4.83 pp	new
NFLXNetFlix Inc	4.70%	1,391,151	$633M	trimmed−6%	−1.02 pp	4 q
METAMeta Platforms, Inc. Class A	4.45%	2,635,766	$599M	added+7%	+0.19 pp	5 q
99952EURLinde PLC/OLD	4.43%	2,810,613	$596M	trimmed−3%	−0.74 pp	2 q
UNPUnion Pacific Corp.	4.38%	3,489,828	$590M	trimmed−5%	−0.95 pp	10 q
GOOGAlphabet Inc. Class C	4.15%	395,570	$559M	trimmed−5%	−0.88 pp	11 q
DHID.R. Horton Inc.	3.85%	9,335,737	$518M	added+56%	+1.75 pp	5 q
ADBEAdobe Inc.	3.71%	1,146,443	$499M	trimmed−28%	−1.52 pp	14 q
TMUST-Mobile US, Inc.	3.25%	4,200,400	$437M	new	+3.25 pp	new
GPNGlobal Payments, Inc.	3.18%	2,524,955	$428M	new	+3.18 pp	new
FISVFiserv, Inc.	2.76%	3,801,668	$371M	trimmed−41%	−3.62 pp	6 q
MTCHMatch Group, Inc	2.05%	2,577,169	$276M	trimmed−0%	+0.29 pp	3 q
NBISNebius Group N.V. Class A	2.03%	5,449,768	$273M	trimmed−22%	−0.44 pp	3 q
KKRKKR & Co. Inc.	1.78%	7,759,541	$240M	added+53%	+0.55 pp	8 q
BXBlackstone Inc.	1.61%	3,828,926	$217M	trimmed−26%	−0.83 pp	4 q
AIYActivision Blizzard Inc	1.60%	2,830,922	$215M	new	+1.60 pp	new
MAMastercard Incorporated	1.21%	549,112	$162M	trimmed−25%	−0.63 pp	25 q
LBBath & Body Works, Inc.	0.96%	8,645,380	$129M	added+13%	+0.04 pp	2 q
CCitigroup Inc.	0.79%	2,082,969	$106M	trimmed−30%	−0.51 pp	2 q
TSCOTractor Supply Co	0.71%	723,800	$95M	new	+0.71 pp	new
PGRProgressive Corporation	0.59%	988,184	$79M	trimmed−34%	−0.55 pp	2 q
BXMTBlackstone Mortgage Trust, Inc. (NEW)	0.56%	3,124,490	$75M	new	+0.56 pp	new
VMCVulcan Materials Company(Holding Company)	—	−1,818,421	—	exited	−2.03 pp	—
AXPAmerican Express Company	—	−1,981,715	—	exited	−1.75 pp	—
SPGIS&P Global Inc.	—	−505,106	—	exited	−1.28 pp	—
MOAltria Group, Inc.	—	−2,009,991	—	exited	−0.80 pp	—