In its second-quarter 2026 13F filing, John Armitage's Egerton Capital reported a total portfolio value of $10.35 billion. The fund maintained a concentrated portfolio with its top two holdings, Visa (V) and Alphabet (GOOG), accounting for over 25% of its value. Other significant top positions included Amphenol (APH), Amazon (AMZN), and Moody's Corp (MCO), reflecting a continued focus on high-quality growth companies in the technology and financial services sectors.
The most notable changes show Egerton increasing its conviction in key technology and industrial names. The firm significantly added to its stakes in Amphenol, Amazon, Nvidia (NVDA), and Medallion (MDLN), making them all top-10 holdings. The fund also initiated several new positions, with the largest being a new stake in semiconductor equipment giant Applied Materials (AMAT), alongside new buys in Equifax (EFX) and S&P Global (SPGI), signaling a fresh interest in market data and credit reporting firms.
Conversely, the filing revealed a significant reduction in exposure to ride-sharing and industrial gases, with major cuts to Uber (UBER) and Linde PLC. Egerton also completely exited several high-profile positions, including industrial manufacturer Carpenter Technology (CRS), derivatives marketplace CME Group, and energy producer Canadian Natural Resources (CNQ). This regulatory filing represents a snapshot of holdings as of June 30, 2026, and may not reflect current positions.