SEC 13F Intelligence

Notable Investors / Q1 2026

John Armitage’s Portfolio — Egerton Capital (UK) LLP

Co-Founder & CIO, Egerton Capital

CIK 0001581811 · STRATTON HOUSE, 5 STRATTON STREET, LONDON, X0, W1J 8LA · 44(0)2074103680

About John Armitage

John Armitage co-founded London's Egerton Capital in 1994 and quietly compiled one of Europe's finest long/short equity records — low drama, high compounding — while remaining one of the least public major fund managers.

Egerton's 13F shows a focused quality-growth book: global franchises listed in the U.S. — airlines excepted when cycle risk looms — held in size and traded with unusual discipline.

Portfolio data below is from Egerton Capital (UK) LLP’s SEC 13F filings. View the full filer page →

Reported Value
$9.0B
Q1 2026
Positions
24
Filings on Record
44
2019–present window
Filed
May 13, 2026
original filing

Summary

Egerton Capital (UK) LLP reported $9.0B in U.S.-listed holdings across 24 positions for Q1 2026.

Its largest position, V, represents 13.8% of the portfolio.

Compared with Q4 2025, the fund opened 7 new positions and exited 6.

Portfolio Metrics

Turnover
+37.8%
vs prior filed quarter
Top-10 Concentration
+68.7%
share of reported value
Largest Position
+13.8%
Visa
New / Exited
7 / 6
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $12.0BQ4 ’18Q1 ’19: $14.2BQ2 ’19: $13.7BQ3 ’19: $14.0BQ4 ’19: $14.0BQ4 ’19Q1 ’20: $9.7BQ2 ’20: $13.5BQ3 ’20: $16.2BQ4 ’20: $17.7BQ4 ’20Q1 ’21: $19.0BQ2 ’21: $20.1BQ3 ’21: $21.0BQ4 ’21: $21.4BQ4 ’21Q1 ’22: $19.0BQ2 ’22: $14.8BQ3 ’22: $12.9BQ4 ’22: $11.6BQ4 ’22Q1 ’23: $9.3BQ2 ’23: $9.7BQ3 ’23: $8.6BQ4 ’23: $9.2BQ4 ’23Q1 ’24: $10.3BQ2 ’24: $9.9BQ3 ’24: $9.9BQ4 ’24: $8.6BQ4 ’24Q1 ’25: $8.7BQ2 ’25: $9.7BQ3 ’25: $9.5BQ4 ’25: $9.2BQ4 ’25Q1 ’26: $9.0Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 85.2%Other: 11.3%ADR: 2.0%REIT: 1.5%
  • Common Stock · 85.2% · $7.7B
  • Other · 11.3% · $1.0B
  • ADR · 2.0% · $177M
  • REIT · 1.5% · $138M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LINDE PLCNEW+1.07M1.07M+$530M$530M
NVDANVIDIA CORPORATIONNEW+2.68M2.68M+$467M$467M
DVNDEVON ENERGY CORP NEWNEW+6.53M6.53M+$328M$328M
CRCCANADIAN NAT RES LTD MED TERNEW+5.69M5.69M+$277M$277M
MDLNMEDLINE INCNEW+4.37M4.37M+$194M$194M
ARCH CAP GROUP LTDNEW+1.12M1.12M+$107M$107M
AWIARMSTRONG WORLD INDS INC NEWNEW+448.0K448.0K+$74M$74M
GOOGALPHABET INCADDED+2.38M3.46M+$654M$992M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

24 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VVISA INChistory →COM CL A13.79%$1.2B4.11M
2GOOGALPHABET INChistory →CAP STK CL C11.01%$992M3.46M
3DUTMOODYS CORPhistory →COM7.48%$674M1.55M
4LINDE PLCSHS5.88%$530M1.07M
5CRSCARPENTER TECHNOLOGY CORPhistory →COM5.82%$525M1.33M
6AMZNAMAZON COM INChistory →COM5.46%$492M2.36M
7VMCVULCAN MATLS COhistory →COM5.35%$482M1.77M
8NVDANVIDIA CORPORATIONhistory →COM5.18%$467M2.68M
9IBKRINTERACTIVE BROKERS GROUP INhistory →COM CL A4.67%$421M6.28M
10APHAMPHENOL CORPhistory →CL A4.03%$363M2.87M
11CMECME GROUP INChistory →COM3.88%$349M1.18M
12UBERUBER TECHNOLOGIES INChistory →COM3.71%$335M4.65M
13DVNDEVON ENERGY CORP NEWhistory →COM3.64%$328M6.53M
14CRH PLCORD3.22%$290M2.76M
15CRCCANADIAN NAT RES LTD MED TERhistory →COM3.07%$277M5.69M
16MAMASTERCARD INCORPORATEDhistory →CL A2.55%$230M459.7K
17MDLNMEDLINE INChistory →COM CL A2.16%$194M4.37M
18EMBJEMBRAER S.A.history →SPONSORED ADS1.96%$177M2.98M
19FERGFERGUSON ENTERPRISES INChistory →COMMON STOCK NEW1.64%$148M634.3K
20LAMRLAMAR ADVERTISING COhistory →CL A1.53%$138M1.09M
21ARCH CAP GROUP LTDORD1.19%$107M1.12M
22RENAISSANCERE HLDGS LTDCOM1.05%$94M317.3K
23NYTNEW YORK TIMES CO MTN BEhistory →CL A0.90%$81M971.9K
24AWIARMSTRONG WORLD INDS INC NEWhistory →COM0.82%$74M448.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$9.0B24May 13, 202613F-HRchanges · EDGAR ↗
Q4 2025$9.2B23Feb 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$9.5B24Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$9.7B25Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$8.7B27May 6, 202513F-HRchanges · EDGAR ↗
Q4 2024$8.6B30Feb 10, 202513F-HRchanges · EDGAR ↗
Q3 2024$9.9B30Nov 5, 202413F-HRchanges · EDGAR ↗
Q2 2024$9.9B26Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$10.3B22May 13, 202413F-HRchanges · EDGAR ↗
Q4 2023$9.2B22Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$8.6B22Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$9.7B23Aug 10, 202313F-HRchanges · EDGAR ↗
Q1 2023$9.3B25May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022$11.6B21Feb 7, 202313F-HRchanges · EDGAR ↗
Q3 2022$12.9B23Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$14.8B26Aug 9, 202213F-HRchanges · EDGAR ↗
Q1 2022$19.0B29May 9, 202213F-HRchanges · EDGAR ↗
Q4 2021$21.4B32Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$21.0B34Nov 8, 202113F-HRchanges · EDGAR ↗
Q2 2021$20.1B31Aug 12, 202113F-HRchanges · EDGAR ↗
Q1 2021$19.0B35May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$17.7B34Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$16.2B35Nov 9, 202013F-HRchanges · EDGAR ↗
Q2 2020$13.5B28Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$9.7B26May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$14.0B33Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$14.0B33Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$13.7B31Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$14.2B26May 9, 201913F-HRchanges · EDGAR ↗
Q4 2018$12.0B26Feb 12, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • Egerton Capital (US), LP028-22583

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.