Egerton Capital · SEC Form 13F for Sep 30, 2026 · filed Oct 20, 2026
John Armitage
$9.8 billion in 23 stocks
Visa is 15% of it, and five stocks make up 52%. Against Q2 2026: opened 4, added to 6, trimmed 4, sold out of 4.
Copying these filings against the S&P 500
Return per year, May 14, 2014 – Nov 11, 2026, dividends included. Calculated Nov 12, 2026; later filings are not in it. A simulation, not the fund’s return, and the gap changes a lot with the dates.
How this is calculated
We compare two imaginary portfolios over the same dates. One buys an S&P 500 fund (SPY) and keeps it. The other copies this investor: on the first trading day after each 13F filing becomes public, it sells what it holds and buys what the filing lists, in the same proportions, at that day’s closing price. It leaves out options, holds no cash and does not trade between filings.
We use daily prices from Yahoo Finance, dividends included, and check each against the price in the filings before using it. Some holdings have no daily prices, mostly companies that were later bought or delisted, and bonds. For those we use the price from each quarterly filing, which leaves out dividends. For this investor that is 9% of the copy.
Filings come out up to 45 days after the quarter ends, so the copy is always acting on old news. A holding first revealed in a corrected filing counts from the day the correction was filed. Shorts, cash, non-US listings, fees, costs and taxes are left out. The start date is simply where our data begins. This is not a prediction.
Calculation and data limitsWhat changed in Q3 2026
Change in shares since Q2 2026. Changes under 20% are in grey.
Opened4
Intercontinental Exchange Inc2.27% of portfolioMeta Platforms1.42% of portfolioThermo Fisher Scientific1.36% of portfolioWalt Disney1.00% of portfolioAdded to6 + 3 smaller
S&P Global+125%Amphenol+120%Vistra Corp+96.0%Devon Energy Corp+43.3%Linde PLC+33.6%Amazon+31.9%Nvidia+9.5%Armstrong World Industries+7.3%and 1 more in the holdings below
Trimmed4 + 6 smaller
Vulcan Materials Co−48.9%Alphabet (Class C)−36.2%Interactive Brokers Gro (Class A)−23.5%Lamar Advertising Co (Class A)−20.4%Medline Inc (Class A)−19.4%Crh PLC−17.2%Visa−4.3%Mastercard−4.3%and 2 more in the holdings below
Sold out4
Applied Materials Incwas 3.64%Equifax Incwas 2.27%Uberwas 1.62%Riot Platforms Incwas 0.69%The portfolio in one line
Each block is a holding, as wide as its share of the portfolio.
opened or added 20% or more trimmed 20% or more otherwise
23 matching positions
| Company | Weight | This quarter | Reported value | 8 quarters |
|---|---|---|---|---|
VisaVPosition detailsQuote on Yahoo Finance ↗ 4,079,226 reported shares · $359.33 per unit · $1,465,788,279 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 14.93% | Reduce -4.35% | $1.47B | |
AmazonAMZNPosition detailsQuote on Yahoo Finance ↗ 4,714,127 reported shares · $249.15 per unit · $1,174,524,742 reported value Previous recorded weight: 8.23% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 11.96% | Add +31.92% | $1.17B | |
AmphenolAPHPosition detailsQuote on Yahoo Finance ↗ 10,708,713 reported shares · $84.30 per unit · $902,744,506 reported value Previous recorded weight: 8.29% 7 recorded quarters of position-weight history; not proof of continuous ownership. | 9.19% | Add +120.04% | $903M | |
NvidiaNVDAPosition detailsQuote on Yahoo Finance ↗ 3,741,971 reported shares · $228.38 per unit · $854,591,337 reported value 3 recorded quarters of position-weight history; not proof of continuous ownership. | 8.70% | Add +9.48% | $855M | |
Moody’sMCOPosition detailsQuote on Yahoo Finance ↗ 1,637,246 reported shares · $454.13 per unit · $743,522,526 reported value 4 recorded quarters of position-weight history; not proof of continuous ownership. | 7.57% | Reduce -3.93% | $744M | |
Alphabet (Class C)GOOGPosition detailsQuote on Yahoo Finance ↗ 2,099,142 reported shares · $340.74 per unit · $715,261,645 reported value Previous recorded weight: 11.23% 7 recorded quarters of position-weight history; not proof of continuous ownership. | 7.28% | Reduce -36.23% | $715M | |
Devon Energy CorpDVNPosition detailsQuote on Yahoo Finance ↗ 10,829,392 reported shares · $46.04 per unit · $498,585,208 reported value Previous recorded weight: 3.02% 3 recorded quarters of position-weight history; not proof of continuous ownership. | 5.08% | Add +43.28% | $499M | |
Medline Inc (Class A)MDLNPosition detailsQuote on Yahoo Finance ↗ 13,283,017 reported shares · $34.70 per unit · $460,920,690 reported value 3 recorded quarters of position-weight history; not proof of continuous ownership. | 4.69% | Reduce -19.35% | $461M | |
S&P GlobalSPGIPosition detailsQuote on Yahoo Finance ↗ 790,364 reported shares · $394.47 per unit · $311,774,887 reported value Previous recorded weight: 1.39% 2 recorded quarters of position-weight history; not proof of continuous ownership. | 3.17% | Add +124.59% | $312M | |
Crh PLCCRHPosition detailsQuote on Yahoo Finance ↗ 3,631,232 reported shares · $82.80 per unit · $300,666,010 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 3.06% | Reduce -17.17% | $301M | |
Interactive Brokers Gro (Class A)IBKRPosition detailsQuote on Yahoo Finance ↗ 3,160,704 reported shares · $85.42 per unit · $269,987,336 reported value Previous recorded weight: 3.47% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 2.75% | Reduce -23.46% | $270M | |
Vulcan Materials CoVMCPosition detailsQuote on Yahoo Finance ↗ 1,007,912 reported shares · $244.63 per unit · $246,565,513 reported value Previous recorded weight: 5.62% 4 recorded quarters of position-weight history; not proof of continuous ownership. | 2.51% | Reduce -48.88% | $247M | |
Embraer Sa-Spon ADREMBJPosition detailsQuote on Yahoo Finance ↗ 3,242,138 reported shares · $75.32 per unit · $244,197,834 reported value 6 recorded quarters of position-weight history; not proof of continuous ownership. | 2.49% | Reduce -4.20% | $244M | |
Ferguson Enterprises IncFERGPosition detailsQuote on Yahoo Finance ↗ 1,060,203 reported shares · $222.62 per unit · $236,022,392 reported value 6 recorded quarters of position-weight history; not proof of continuous ownership. | 2.40% | Add +5.39% | $236M | |
Intercontinental Exchange IncICEPosition detailsQuote on Yahoo Finance ↗ 1,467,474 reported shares · $152.03 per unit · $223,100,072 reported value Previous recorded weight: 0.00% 5 recorded quarters of position-weight history; not proof of continuous ownership. | 2.27% | New position | $223M | |
MastercardMAPosition detailsQuote on Yahoo Finance ↗ 347,692 reported shares · $551.47 per unit · $191,741,707 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.95% | Reduce -4.35% | $192M | |
Linde PLCLINPosition detailsQuote on Yahoo Finance ↗ 401,932 reported shares · $474.65 per unit · $190,777,024 reported value Previous recorded weight: 1.51% 3 recorded quarters of position-weight history; not proof of continuous ownership. | 1.94% | Add +33.60% | $191M | |
Armstrong World IndustriesAWIPosition detailsQuote on Yahoo Finance ↗ 993,344 reported shares · $161.93 per unit · $160,852,194 reported value 3 recorded quarters of position-weight history; not proof of continuous ownership. | 1.64% | Add +7.34% | $161M | |
Meta PlatformsMETAPosition detailsQuote on Yahoo Finance ↗ 192,860 reported shares · $725.18 per unit · $139,858,215 reported value Previous recorded weight: 0.00% 5 recorded quarters of position-weight history; not proof of continuous ownership. | 1.42% | New position | $140M | |
Thermo Fisher ScientificTMOPosition detailsQuote on Yahoo Finance ↗ 198,227 reported shares · $675.05 per unit · $133,813,136 reported value Previous recorded weight: 0.00% —1 recorded quarters of position-weight history; not proof of continuous ownership. | 1.36% | New position | $134M | |
Vistra CorpVSTPosition detailsQuote on Yahoo Finance ↗ 951,011 reported shares · $138.35 per unit · $131,572,372 reported value Previous recorded weight: 0.74% 2 recorded quarters of position-weight history; not proof of continuous ownership. | 1.34% | Add +95.98% | $132M | |
Lamar Advertising Co (Class A)LAMRPosition detailsQuote on Yahoo Finance ↗ 867,591 reported shares · $144.11 per unit · $125,028,539 reported value Previous recorded weight: 1.64% 5 recorded quarters of position-weight history; not proof of continuous ownership. | 1.27% | Reduce -20.45% | $125M | |
Walt DisneyDISPosition detailsQuote on Yahoo Finance ↗ 933,073 reported shares · $104.90 per unit · $97,879,358 reported value Previous recorded weight: 0.00% —1 recorded quarters of position-weight history; not proof of continuous ownership. | 1.00% | New position | $98M |
How to read this table
- Weight is a holding’s share of the reported portfolio, not of everything the manager runs.
- Price per unit is the reported value divided by the reported shares at quarter end.
- Some filings state dollar values in thousands. Those are shown here in dollars.
- Share changes compare two filings. They can reflect splits or corrections as well as trades.
- Every change is listed here. Across the site, an investor counts as adding or reducing only when the change is 20% or more, or a position is opened or closed.
- “N/A” means the two filings could not be compared, not that nothing changed.
- Filings do not show trade dates or reasons.
Source: SEC Form 13F for Sep 30, 2026, filed Oct 20, 2026 · Form 13F 0001581811-26-000009 ↗SEC filing index ↗ · A filing lists long US-listed positions at quarter end. It is not a live portfolio and gives no reasons for a change.
About John Armitage
John Armitage co-founded Egerton Capital in London in 1994. Egerton manages long-only equity portfolios as well as portfolios that can take both long and short positions. Its 13F gives a partial view of those strategies. Firm background ↗
In its portfolio for the quarter ended Mar 31, 2014, Egerton Capital’s largest reported positions included Wells Fargo & Co, Disney Walt Co, American Express Co. Historical filing ↗
In the filing dated Oct 20, 2026, Egerton Capital reported as Egerton Capital (UK) LLP with an office in LONDON. Philip Niel, General Counsel and Chief Compliance Officer, signed the filing. SEC cover page ↗
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