John Armitage - Egerton Capital UK Investment Strategy & Portfolio Analysis

As of Mar 31, 2026, John Armitage's Egerton Capital UK portfolio reflects a opportunistic approach across 22 reported 13F positions. Portfolio returns are primarily driven by a small set of mega-cap compounders, with the top five holdings accounting for approximately 45% of total exposure and Visa alone contributing ~14%. While the portfolio includes 22 positions, economic outcomes are highly concentrated in a narrow set of financials and technology names. Exposure to high-growth and technology-oriented segments is moderate relative to peers, with performance weighted across financials, communication services, and industrials. The portfolio maintains moderate turnover, consistent with periodic rebalancing rather than a fully static book. Distinctive traits include Moderate Turnover, Structurally Diversified.