John Armitage
Egerton Capital
John Armitage (Egerton Capital) discloses a $9.01B portfolio across 24 US-listed positions in the latest 13F filing (2026Q1, filed May 13, 2026). The largest holding is V at 13.8% of the book. The biggest move of the quarter: added 26% to the V share count (position now $1.24B). Latticework's clone backtest puts this 13F book at -0.2%/yr vs SPY over 12.0 years.
About John Armitage
John Armitage co-founded London-based Egerton Capital in 1994 after leaving GLG Partners, and has built one of Europe's larger long/short equity funds over three decades, running assets reported at times above $15B across public and private strategies. The U.S. long book — reflected in the 13F — is concentrated by most standards, with roughly 44% of reported equity exposure sitting in five names as of the latest filing, led by Visa, Alphabet, and Moody's; the portfolio tilts toward wide-moat compounders rather than deep cyclicals or event-driven situations. The critical caveat for 13F readers is that Egerton runs a genuine long/short book, meaning the filed longs represent only one leg of the strategy: short positions, non-U.S. equity exposure, and derivatives hedges are invisible in the filing. The clone backtest showing near-flat excess return versus SPY over twelve years is consistent with this dynamic — the gross long sleeve is not designed to be harvested in isolation.
2026Q1 brief
Egerton's $9.0B concentrated book underwent a dramatic reshaping in 2026Q1 — six exits including MSFT (previously 9.2% of the portfolio), BSX (5.6%), and COF (5.5%) freed up enormous capital, which was redeployed into a bold Google double-down (GOOG +221% to 11.0%), a near-doubling of MCO (to 7.5%), and a fresh 5.9% position in industrial gas giant LIN. The simultaneous initiation of NVDA (5.2%), DVN (3.6%), and CNQ (3.1%) signals a deliberate pivot: Armitage appears to be rotating out of premium-multiple US tech/financials and into a barbell of AI infrastructure (GOOG, NVDA), quality compounders (MCO, LIN), and energy (DVN, CNQ) — a notably contrarian energy tilt few super-investors are making. V was further added to at 13.8%, cementing it as the anchor. The near-60% trim of AMZN while tripling Google is a pointed statement on relative value within mega-cap tech. Watch whether Armitage continues building the energy sleeve (DVN/CNQ) or pivots back in 2026Q2.
AI-generated. Not investment advice.
In the news
all news →No recent news mentions of John Armitage.
Headlines via Google News. Links open in a new tab.
Holdings (24) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | V | 13.8% | $1.24B | |||
| 2 | GOOG | 11.0% | $992M | |||
| 3 | MCO | 7.5% | $674M | |||
| 4 | LIN | 5.9% | $530M | |||
| 5 | CRS | 5.8% | $525M | |||
| 6 | AMZN | 5.5% | $492M | |||
| 7 | VMC | 5.3% | $482M | |||
| 8 | NVDA | 5.2% | $467M | |||
| 9 | IBKR | 4.7% | $421M | |||
| 10 | APH | 4.0% | $363M | |||
| 11 | CME | 3.9% | $349M | |||
| 12 | UBER | 3.7% | $335M | |||
| 13 | DVN | 3.6% | $328M | |||
| 14 | CRH | 3.2% | $290M | |||
| 15 | CNQ | 3.1% | $277M | |||
| 16 | MA | 2.5% | $230M | |||
| 17 | MDLN | 2.2% | $194M | |||
| 18 | EMBJ | 2.0% | $177M | |||
| 19 | FERG | 1.6% | $148M | |||
| 20 | LAMR | 1.5% | $138M | |||
| 21 | G0450A105 | 1.2% | $107M | |||
| 22 | G7496G103 | 1.0% | $94M | |||
| 23 | NYT | 0.9% | $81M | |||
| 24 | AWI | 0.8% | $74M |
- 1Vport13.8%val$1.24BVisa Inc-class A Sharesthis Q +26%·27q
- 2GOOGport11.0%val$992MAlphabet Inc-cl Cthis Q +221%·38q
- 3MCOport7.5%val$674MMoody's Corpthis Q +100%·4q
- 4LINport5.9%val$530MLinde Plcthis Q New·2q
- 5CRSport5.8%val$525MCarpenter Technologythis Q hold·5q
- 6AMZNport5.5%val$492MAmazon.com Incthis Q -60%·22q
- 7VMCport5.3%val$482MVulcan Materials COthis Q +84%·14q
- 8NVDAport5.2%val$467MNvidia Corpthis Q New·4q
- 9IBKRport4.7%val$421MInteractive Brokers Gro-cl Athis Q hold·9q
- 10APHport4.0%val$363MAmphenol Corp-cl Athis Q -23%·5q
- 11CMEport3.9%val$349MCme Group Incthis Q hold·8q
- 12UBERport3.7%val$335MUber Technologies Incthis Q +74%·4q
- 13DVNport3.6%val$328MDevon Energy Corpthis Q New·—1q
- 14CRHport3.2%val$290MCrh Plcthis Q +22%·10q
- 15CNQport3.1%val$277MCanadian Natural Resourcesthis Q New·—1q
- 16MAport2.5%val$230MMastercard Inc - Athis Q hold·40q
- 17MDLNport2.2%val$194MMedline Inc-cl Athis Q New·—1q
- 18EMBJport2.0%val$177MEmbraer Sa-spon Adrthis Q hold·5q
- 19FERGport1.6%val$148MFerguson Enterprises Incthis Q -37%·4q
- 20LAMRport1.5%val$138MLamar Advertising Co-athis Q +51%·3q
- 21G0450A105port1.2%val$107MArch Cap Group Ltdthis Q New·10q
- 22G7496G103port1.0%val$94MRenaissancere Hldgs Ltdthis Q -35%·10q
- 23NYTport0.9%val$81MNew York Times Co-athis Q -31%·2q
- 24AWIport0.8%val$74MArmstrong World Industriesthis Q New·—1q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| AMZN | Amazon.com Inc | TRIM | 5.5% | -60% | $492M |
| V | Visa Inc-class A Shares | ADD | 13.8% | +26% | $1.24B |
| GOOG | Alphabet Inc-cl C | ADD | 11.0% | +221% | $992M |
| MSFT | Microsoft Corp | EXIT | 9.2% | -100% | $0 |
| MCO | Moody's Corp | ADD | 7.5% | +100% | $674M |
| LIN | Linde Plc | NEW | 5.9% | +100% | $530M |
| BSX | Boston Scientific Corp | EXIT | 5.6% | -100% | $0 |
| COF | Capital One Financial Corp | EXIT | 5.5% | -100% | $0 |
| APH | Amphenol Corp-cl A | TRIM | 4.0% | -23% | $363M |
| VMC | Vulcan Materials CO | ADD | 5.3% | +84% | $482M |
| NVDA | Nvidia Corp | NEW | 5.2% | +100% | $467M |
| UBER | Uber Technologies Inc | ADD | 3.7% | +74% | $335M |
| DVN | Devon Energy Corp | NEW | 3.6% | +100% | $328M |
| CRH | Crh Plc | ADD | 3.2% | +22% | $290M |
| CNQ | Canadian Natural Resources | NEW | 3.1% | +100% | $277M |
| WYNN | Wynn Resorts Ltd | EXIT | 2.7% | -100% | $0 |
| FERG | Ferguson Enterprises Inc | TRIM | 1.6% | -37% | $148M |
| G7997R103 | Seagate Technology Hldngs PL | EXIT | 2.2% | -100% | $0 |
| MDLN | Medline Inc-cl A | NEW | 2.2% | +100% | $194M |
| LAMR | Lamar Advertising Co-a | ADD | 1.5% | +51% | $138M |
| G7496G103 | Renaissancere Hldgs Ltd | TRIM | 1.0% | -35% | $94M |
| G0450A105 | Arch Cap Group Ltd | NEW | 1.2% | +100% | $107M |
| NYT | New York Times Co-a | TRIM | 0.9% | -31% | $81M |
| LPLA | Lpl Financial Holdings Inc | EXIT | 1.0% | -100% | $0 |
| AWI | Armstrong World Industries | NEW | 0.8% | +100% | $74M |
- TRIMAMZN5.5%Amazon.com IncΔ -60%·$492M
- ADDV13.8%Visa Inc-class A SharesΔ +26%·$1.24B
- ADDGOOG11.0%Alphabet Inc-cl CΔ +221%·$992M
- EXITMSFT9.2%Microsoft CorpΔ -100%·$0
- ADDMCO7.5%Moody's CorpΔ +100%·$674M
- NEWLIN5.9%Linde PlcΔ +100%·$530M
- EXITBSX5.6%Boston Scientific CorpΔ -100%·$0
- EXITCOF5.5%Capital One Financial CorpΔ -100%·$0
- TRIMAPH4.0%Amphenol Corp-cl AΔ -23%·$363M
- ADDVMC5.3%Vulcan Materials COΔ +84%·$482M
- NEWNVDA5.2%Nvidia CorpΔ +100%·$467M
- ADDUBER3.7%Uber Technologies IncΔ +74%·$335M
- NEWDVN3.6%Devon Energy CorpΔ +100%·$328M
- ADDCRH3.2%Crh PlcΔ +22%·$290M
- NEWCNQ3.1%Canadian Natural ResourcesΔ +100%·$277M
- EXITWYNN2.7%Wynn Resorts LtdΔ -100%·$0
- TRIMFERG1.6%Ferguson Enterprises IncΔ -37%·$148M
- EXITG7997R1032.2%Seagate Technology Hldngs PLΔ -100%·$0
- NEWMDLN2.2%Medline Inc-cl AΔ +100%·$194M
- ADDLAMR1.5%Lamar Advertising Co-aΔ +51%·$138M
- TRIMG7496G1031.0%Renaissancere Hldgs LtdΔ -35%·$94M
- NEWG0450A1051.2%Arch Cap Group LtdΔ +100%·$107M
- TRIMNYT0.9%New York Times Co-aΔ -31%·$81M
- EXITLPLA1.0%Lpl Financial Holdings IncΔ -100%·$0
- NEWAWI0.8%Armstrong World IndustriesΔ +100%·$74M
Frequently asked questions
- What stocks does John Armitage own?
- As of 2026Q1, John Armitage's 13F discloses 24 positions worth $9.01B. The top five holdings: V (13.8%), GOOG (11.0%), MCO (7.5%), LIN (5.9%), CRS (5.8%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did John Armitage buy this quarter?
- In 2026Q1, the filing shows 7 new positions and 7 additions to existing holdings. The largest positions touched by buying: V, GOOG, MCO, LIN, VMC.
- How big is John Armitage's portfolio?
- $9.01B across 24 positions per the latest 13F (filed May 13, 2026). The top five holdings account for 44% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001581811). Not investment advice.