British-Irish hedge fund manager John Armitage was recently declared one of Ireland’s top nine billionaires with an estimated net worth of roughly $3 billion. Armitage founded Egerton Capital in 1994 and brought the research-intensive approach to investing. As of April 2022, the hedge fund has approximately $20.4 billion in assets under management. Armitage is currently serving as the CIO and portfolio manager of the firm.
Egerton Capital employs a fundamental bottom-up approach while investing in companies in order to create a diversified portfolio. The hedge fund also invests in companies outside of the US and targets quality companies with attractive valuations, presenting solid growth potential. The fund mainly invests in large-cap companies after rigorous research while analyzing accessible information. In 2018, Egerton Capital was one of the top 20 performing hedge funds, earning $14.7 billion from 1995 to 2018, as reported by Reuters.
Apart from his investment philosophy, Armitage is also known for keeping political affiliations after he made considerable donations to the political parties in the UK during an election campaign in 2016. He gave £3.1 million to Conservatives, with an additional donation of £500,000 when Boris Johnson became Prime Minister.
As of Q1 2022, Egerton Capital holds a 13F portfolio value of roughly $19 billion, down from $21.5 billion in the previous quarter. The hedge fund made major investments in services, technology, and finance sectors, with healthcare and industrial goods representing a small portion of John Armitage’s portfolio. Some of the hedge fund's major holdings include Mastercard Incorporated (NYSE:MA), Microsoft Corporation (NASDAQ:MSFT), and Amazon.com, Inc. (NASDAQ:AMZN).
6. Linde plc (NYSE:LIN)
Egerton Capital’s Stake Value: $1,052,110,000
Percentage of Egerton Capital’s 13F Portfolio: 4.99%
Number of Hedge Fund Holders: 46
Linde plc (NYSE:LIN) is a multinational company specializing in industrial gas production, medical gas and air separation, physical plant engineering, and logistics services, headquartered in Dublin, Ireland. Linde plc (NYSE:LIN) stock represents 4.99% of Egerton Capital’s Q3 portfolio, with the fund owning 3.5 million shares of the company, worth $1.05 billion.
Offering a forward yield of 1.34%, Linde plc (NYSE:LIN) declared a quarterly dividend per share of $1.06, in line with previous. The company paid the dividend on December 16 to shareholders of record on December 3.
Linde plc (NYSE:LIN) published its third quarter financial results on October 28, posting earnings per share of $2.73, beating estimates by $0.07. The $7.67 billion revenue exceeded estimates by $140.09 million.
Societe Generale analyst Peter Clark on January 4 raised the price target on Linde plc (NYSE:LIN) to $400 from $365 and reiterated a Buy rating on the shares. Linde plc (NYSE:LIN) is entering its sixth consecutive year as one of the analyst's top sector picks, and the company is set for "structurally stronger growth and profitability, and even lower earnings volatility than it currently enjoys."
46 hedge funds in the Q3 database of Insider Monkey were bullish on Linde plc (NYSE:LIN), down from 55 funds in the preceding quarter. Nicolai Tangen’s Ako Capital is the largest Linde plc (NYSE:LIN) stakeholder, with 3.80 million shares worth $1.12 billion.
In addition to Alphabet Inc. (NASDAQ:GOOG) and Meta Platforms, Inc. (NASDAQ:FB), Linde plc (NYSE:LIN) is a notable stock from John Armitage's third quarter portfolio.
7. The Charles Schwab Corporation (NYSE:SCHW)
Egerton Capital’s Stake Value: $1,039,011,000
Percentage of Egerton Capital’s 13F Portfolio: 4.93%
Number of Hedge Fund Holders: 59
The Charles Schwab Corporation (NYSE:SCHW), a California-based multinational financial services company, is one of the top stock picks of John Armitage’s Q3 portfolio. Egerton Capital boosted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 127% in the third quarter, owning a total of 14.2 million shares worth $1.03 billion, representing 4.93% of the fund’s 13F securities.
The Charles Schwab Corporation (NYSE:SCHW), on October 26, declared a $0.18 per share quarterly dividend, in line with previous, paid on November 26.
On October 15, The Charles Schwab Corporation (NYSE:SCHW) published its Q3 results. The company posted earnings per share of $0.84, exceeding estimates by $0.03. The quarterly revenue came in at $4.57 billion, up 86.68% year-over-year, surpassing estimates by $47.10 million. The Charles Schwab Corporation (NYSE:SCHW) is expecting balance sheet growth in Q4, and the company’s assets climbed to $7.98 trillion in October.
Deutsche Bank analyst Brian Bedell raised the price target on The Charles Schwab Corporation (NYSE:SCHW) to $120 from $100 and kept a Buy rating on the shares on December 17. The analyst heads into 2022 "even more constructive than at the start of 2021" on the brokers, asset managers, and exchanges sector.
David Blood and Al Gore’s Generation Investment Management is one of the leading stakeholders of The Charles Schwab Corporation (NYSE:SCHW), with 12.9 million shares worth $940.4 million. Overall, 59 hedge funds reported owning stakes worth $4.5 billion in The Charles Schwab Corporation (NYSE:SCHW) in Q3 2021.
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