John Armitage portfolio & holdings
Egerton Capital
Historical clone performance and limitations
John Armitage (Egerton Capital) discloses a $10.35B portfolio across 23 US-listed positions in the latest 13F filing (2026Q2, filed Jul 21, 2026). The largest holding is V at 14.1% of the book.
A material reported change · Q2 2026
John Armitage increased reported AMZN shares by 51.2%.
Holdings as of Jun 30, 2026 · filed Jul 21, 2026. Position at period end: 8.2% of the reported portfolio. The filing does not reveal the trade date, price, or reason.
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Holdings (23) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | V | 14.1% | $1.46B | |||
| 2 | GOOG | 11.2% | $1.16B | |||
| 3 | APH | 8.3% | $858M | |||
| 4 | AMZN | 8.2% | $852M | |||
| 5 | MCO | 7.5% | $772M | |||
| 6 | NVDA | 6.6% | $684M | |||
| 7 | MDLN | 6.3% | $650M | |||
| 8 | VMC | 5.6% | $582M | |||
| 9 | CRH | 4.5% | $469M | |||
| 10 | AMAT | 3.6% | $377M | |||
| 11 | IBKR | 3.5% | $359M | |||
| 12 | DVN | 3.0% | $312M | |||
| 13 | FERG | 2.3% | $239M | |||
| 14 | EFX | 2.3% | $235M | |||
| 15 | EMBJ | 2.1% | $216M | |||
| 16 | MA | 1.8% | $187M | |||
| 17 | LAMR | 1.6% | $170M | |||
| 18 | UBER | 1.6% | $167M | |||
| 19 | LIN | 1.5% | $156M | |||
| 20 | AWI | 1.4% | $148M | |||
| 21 | SPGI | 1.4% | $143M | |||
| 22 | VST | 0.7% | $77M | |||
| 23 | RIOT | 0.7% | $72M |
- 1Vport14.1%val$1.46BVisa Inc-class A Sharesthis Q hold·27q
- 2GOOGport11.2%val$1.16BAlphabet Inc-cl Cthis Q hold·38q
- 3APHport8.3%val$858MAmphenol Corp-cl Athis Q +69%·6q
- 4AMZNport8.2%val$852MAmazon.com Incthis Q +51%·23q
- 5MCOport7.5%val$772MMoody's Corpthis Q hold·4q
- 6NVDAport6.6%val$684MNvidia Corpthis Q +28%·4q
- 7MDLNport6.3%val$650MMedline Inc-cl Athis Q +277%·2q
- 8VMCport5.6%val$582MVulcan Materials COthis Q hold·15q
- 9CRHport4.5%val$469MCrh Plcthis Q +59%·11q
- 10AMATport3.6%val$377MApplied Materials Incthis Q New·13q
- 11IBKRport3.5%val$359MInteractive Brokers Gro-cl Athis Q -34%·10q
- 12DVNport3.0%val$312MDevon Energy Corpthis Q hold·2q
- 13FERGport2.3%val$239MFerguson Enterprises Incthis Q +59%·5q
- 14EFXport2.3%val$235MEquifax Incthis Q New·3q
- 15EMBJport2.1%val$216MEmbraer Sa-spon Adrthis Q hold·6q
- 16MAport1.8%val$187MMastercard Inc - Athis Q -21%·40q
- 17LAMRport1.6%val$170MLamar Advertising Co-athis Q hold·4q
- 18UBERport1.6%val$167MUber Technologies Incthis Q -50%·5q
- 19LINport1.5%val$156MLinde Plcthis Q -72%·3q
- 20AWIport1.4%val$148MArmstrong World Industriesthis Q +107%·2q
- 21SPGIport1.4%val$143MS&p Global Incthis Q New·16q
- 22VSTport0.7%val$77MVistra Corpthis Q New·—1q
- 23RIOTport0.7%val$72MRiot Platforms Incthis Q New·—1q
2026Q2 moves, by size (22)(expand ↓)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| APH | Amphenol Corp-cl A | ADD | 8.3% | +69% | $858M |
| AMZN | Amazon.com Inc | ADD | 8.2% | +51% | $852M |
| NVDA | Nvidia Corp | ADD | 6.6% | +28% | $684M |
| MDLN | Medline Inc-cl A | ADD | 6.3% | +277% | $650M |
| LIN | Linde Plc | TRIM | 1.5% | -72% | $156M |
| CRS | Carpenter Technology | EXIT | 5.8% | -100% | $0 |
| IBKR | Interactive Brokers Gro-cl A | TRIM | 3.5% | -34% | $359M |
| CRH | Crh Plc | ADD | 4.5% | +59% | $469M |
| CME | Cme Group Inc | EXIT | 3.9% | -100% | $0 |
| UBER | Uber Technologies Inc | TRIM | 1.6% | -50% | $167M |
| AMAT | Applied Materials Inc | NEW | 3.6% | +100% | $377M |
| CNQ | Canadian Natural Resources | EXIT | 3.1% | -100% | $0 |
| MA | Mastercard Inc - A | TRIM | 1.8% | -21% | $187M |
| FERG | Ferguson Enterprises Inc | ADD | 2.3% | +59% | $239M |
| EFX | Equifax Inc | NEW | 2.3% | +100% | $235M |
| AWI | Armstrong World Industries | ADD | 1.4% | +107% | $148M |
| SPGI | S&p Global Inc | NEW | 1.4% | +100% | $143M |
| G0450A105 | Arch Cap Group Ltd | EXIT | 1.2% | -100% | $0 |
| G7496G103 | Renaissancere Hldgs Ltd | EXIT | 1.0% | -100% | $0 |
| NYT | New York Times Co-a | EXIT | 0.9% | -100% | $0 |
| VST | Vistra Corp | NEW | 0.7% | +100% | $77M |
| RIOT | Riot Platforms Inc | NEW | 0.7% | +100% | $72M |
- ADDAPH8.3%Amphenol Corp-cl AΔ +69%·$858M
- ADDAMZN8.2%Amazon.com IncΔ +51%·$852M
- ADDNVDA6.6%Nvidia CorpΔ +28%·$684M
- ADDMDLN6.3%Medline Inc-cl AΔ +277%·$650M
- TRIMLIN1.5%Linde PlcΔ -72%·$156M
- EXITCRS5.8%Carpenter TechnologyΔ -100%·$0
- TRIMIBKR3.5%Interactive Brokers Gro-cl AΔ -34%·$359M
- ADDCRH4.5%Crh PlcΔ +59%·$469M
- EXITCME3.9%Cme Group IncΔ -100%·$0
- TRIMUBER1.6%Uber Technologies IncΔ -50%·$167M
- NEWAMAT3.6%Applied Materials IncΔ +100%·$377M
- EXITCNQ3.1%Canadian Natural ResourcesΔ -100%·$0
- TRIMMA1.8%Mastercard Inc - AΔ -21%·$187M
- ADDFERG2.3%Ferguson Enterprises IncΔ +59%·$239M
- NEWEFX2.3%Equifax IncΔ +100%·$235M
- ADDAWI1.4%Armstrong World IndustriesΔ +107%·$148M
- NEWSPGI1.4%S&p Global IncΔ +100%·$143M
- EXITG0450A1051.2%Arch Cap Group LtdΔ -100%·$0
- EXITG7496G1031.0%Renaissancere Hldgs LtdΔ -100%·$0
- EXITNYT0.9%New York Times Co-aΔ -100%·$0
- NEWVST0.7%Vistra CorpΔ +100%·$77M
- NEWRIOT0.7%Riot Platforms IncΔ +100%·$72M
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.
2026Q2 brief
John Armitage's Egerton Capital ran a notably active 2026Q2, reshaping a concentrated $10.35B book (23 positions, top-5 at 49.3%) with a clear pivot toward secular-growth and infrastructure themes. The standout move is MDLN, which surged to a 6.3% weight after a staggering +277% addition, signaling high conviction in the modular/housing play. Armitage also aggressively built APH (+69%, now 8.3% of the book) and AMZN (+51%, 8.2%), while topping up CRH (+59%, 4.5%) and FERG (+59%, 2.3%) — doubling down on infrastructure/construction materials in tandem, a thematic pair consistent with long-cycle capex spending. New positions in AMAT (3.6%) and EFX (2.3%) add semiconductor equipment and data/credit exposure, and a small initiation in RIOT (0.7%) is a rare speculative flier for Egerton. On the exit side, the complete disposal of CRS, CME, CNQ, and both reinsurance names (ARCH CAP GROUP LTD, RENAISSANCERE HLDG) strips out energy, specialty finance, and insurance entirely — a decisive sector rotation away from defensives and commodities. LIN was also largely liquidated (-72%). Watch whether MDLN graduates into a true top-5 holding next quarter, which would confirm Armitage's highest-conviction new thesis.
AI-generated. Not investment advice.
Filing history
John Armitage's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.
| Quarter | Positions | Portfolio value |
|---|---|---|
| Q2 2026 — what changed → | 23 | $10.35B |
| Q1 2026 — what changed → | 24 | $9.01B |
| Q4 2025 — what changed → | 23 | $9.20B |
| Q3 2025 — what changed → | 24 | $9.48B |
| Q2 2025 — what changed → | 25 | $9.75B |
| Q1 2025 — what changed → | 27 | $8.67B |
| Q4 2024 holdings | 30 | $8.65B |
| Q3 2024 holdings | 30 | $9.91B |
| Q2 2024 holdings | 26 | $9.90B |
| Q1 2024 holdings | 22 | $10.35B |
| Q4 2023 holdings | 22 | $9.23B |
| Q3 2023 holdings | 22 | $8.62B |
Values as disclosed at each quarter end. Older filings on EDGAR.
Manager evidence
41 material decisions, preserved in sequence.
See what John Armitage bought, added, trimmed, or exited across eight quarters—plus disclosure lag, SEC sources, and observed outcomes versus SPY. No guru grade.
Open John Armitage's decision evidence →Frequently asked questions
- What stocks does John Armitage own?
- As of 2026Q2, John Armitage's 13F discloses 23 positions worth $10.35B. The top five holdings: V (14.1%), GOOG (11.2%), APH (8.3%), AMZN (8.2%), MCO (7.5%). 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 2026Q2, the filing shows 5 new positions and 7 additions to existing holdings. The largest positions touched by buying: APH, AMZN, NVDA, MDLN, CRH.
- How big is John Armitage's portfolio?
- $10.35B across 23 positions per the latest 13F (filed Jul 21, 2026). The top five holdings account for 49% of the disclosed book.
Similar portfolios
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001581811). Not investment advice.