{
  "data": {
    "slug": "john-armitage",
    "name": "John Armitage",
    "fund": "Egerton Capital",
    "role": "Co-Founder & CIO",
    "philosophy": "Long-short equity, fundamental value, global. Under-the-radar Tiger discipline.",
    "bio": "Co-founded Egerton in 1994 — one of Europe's most respected long-short equity funds. Armitage has delivered 15%+ annualized for three decades with a Buffett-style concentrated approach.",
    "longest_holding": "Microsoft (since 2014)",
    "quality_score": 9,
    "cagr_10y": 12.6,
    "holdings": [
      {
        "ticker": "MSFT",
        "name": "Microsoft",
        "pct": 8.9,
        "shares_mn": 1.2,
        "thesis": "Core quality compounder."
      },
      {
        "ticker": "META",
        "name": "Meta Platforms",
        "pct": 7.2,
        "shares_mn": 0.9,
        "thesis": "Cash flow machine."
      },
      {
        "ticker": "GOOGL",
        "name": "Alphabet Class A",
        "pct": 6.8,
        "shares_mn": 2.5,
        "thesis": "Search + AI."
      },
      {
        "ticker": "NVDA",
        "name": "NVIDIA",
        "pct": 6.4,
        "shares_mn": 0.8,
        "thesis": "AI compute leader."
      },
      {
        "ticker": "SCHW",
        "name": "Charles Schwab",
        "pct": 4.7,
        "shares_mn": 1.4,
        "thesis": "Discount broker franchise."
      },
      {
        "ticker": "NFLX",
        "name": "Netflix",
        "pct": 3.9,
        "shares_mn": 0.2,
        "thesis": "Streaming profitability turn."
      }
    ],
    "recent_moves": [
      {
        "quarter": "2025-Q4",
        "ticker": "MSFT",
        "action": "add",
        "delta_pct": 12,
        "portfolio_impact_pct": 8.9
      },
      {
        "quarter": "2025-Q4",
        "ticker": "META",
        "action": "add",
        "delta_pct": 15,
        "portfolio_impact_pct": 7.2
      },
      {
        "quarter": "2025-Q4",
        "ticker": "SCHW",
        "action": "new",
        "delta_pct": null,
        "portfolio_impact_pct": 4.7
      },
      {
        "quarter": "2025-Q3",
        "ticker": "MSFT",
        "action": "add",
        "delta_pct": 8,
        "portfolio_impact_pct": 8
      },
      {
        "quarter": "2025-Q3",
        "ticker": "GOOGL",
        "action": "add",
        "delta_pct": 12,
        "portfolio_impact_pct": 6.8
      },
      {
        "quarter": "2026-Q1",
        "ticker": "BLDR",
        "action": "add",
        "delta_pct": 23,
        "portfolio_impact_pct": 6.7
      },
      {
        "quarter": "2026-Q1",
        "ticker": "LECO",
        "action": "trim",
        "delta_pct": -33,
        "portfolio_impact_pct": 1.3
      },
      {
        "quarter": "2026-Q1",
        "ticker": "RDNT",
        "action": "trim",
        "delta_pct": -35,
        "portfolio_impact_pct": 1.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "SEA",
        "action": "add",
        "delta_pct": 67,
        "portfolio_impact_pct": 0.3
      },
      {
        "quarter": "2026-Q1",
        "ticker": "UHAL",
        "action": "add",
        "delta_pct": 18,
        "portfolio_impact_pct": 0.3
      },
      {
        "quarter": "2026-Q1",
        "ticker": "AEM",
        "action": "trim",
        "delta_pct": -22,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "CGI",
        "action": "trim",
        "delta_pct": -41,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "VAL",
        "action": "trim",
        "delta_pct": -92,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "FTI",
        "action": "exit",
        "delta_pct": -100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "AMKR",
        "action": "exit",
        "delta_pct": -100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2025-Q4",
        "ticker": "FTI",
        "action": "trim",
        "delta_pct": -6,
        "portfolio_impact_pct": 1
      },
      {
        "quarter": "2025-Q4",
        "ticker": "CGI",
        "action": "add",
        "delta_pct": 10,
        "portfolio_impact_pct": 0.3
      },
      {
        "quarter": "2025-Q4",
        "ticker": "UHAL",
        "action": "add",
        "delta_pct": 18,
        "portfolio_impact_pct": 0.3
      },
      {
        "quarter": "2025-Q4",
        "ticker": "PLPC",
        "action": "trim",
        "delta_pct": -68,
        "portfolio_impact_pct": 0.2
      },
      {
        "quarter": "2025-Q4",
        "ticker": "AEM",
        "action": "trim",
        "delta_pct": -11,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2025-Q4",
        "ticker": "AAPL",
        "action": "exit",
        "delta_pct": -100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2025-Q3",
        "ticker": "CVCO",
        "action": "trim",
        "delta_pct": -11,
        "portfolio_impact_pct": 3.2
      },
      {
        "quarter": "2025-Q3",
        "ticker": "FTI",
        "action": "trim",
        "delta_pct": -11,
        "portfolio_impact_pct": 1.1
      },
      {
        "quarter": "2025-Q3",
        "ticker": "ASO",
        "action": "trim",
        "delta_pct": -42,
        "portfolio_impact_pct": 0.5
      },
      {
        "quarter": "2025-Q3",
        "ticker": "CGI",
        "action": "add",
        "delta_pct": 43,
        "portfolio_impact_pct": 0.3
      },
      {
        "quarter": "2025-Q3",
        "ticker": "UHAL",
        "action": "add",
        "delta_pct": 78,
        "portfolio_impact_pct": 0.3
      },
      {
        "quarter": "2025-Q3",
        "ticker": "AEM",
        "action": "trim",
        "delta_pct": -21,
        "portfolio_impact_pct": 0.2
      },
      {
        "quarter": "2025-Q3",
        "ticker": "AMKR",
        "action": "trim",
        "delta_pct": -91,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2025-Q3",
        "ticker": "ORLA",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2025-Q2",
        "ticker": "CVCO",
        "action": "trim",
        "delta_pct": -10,
        "portfolio_impact_pct": 2.6
      },
      {
        "quarter": "2025-Q2",
        "ticker": "FTI",
        "action": "trim",
        "delta_pct": -9,
        "portfolio_impact_pct": 1.1
      },
      {
        "quarter": "2025-Q2",
        "ticker": "AMKR",
        "action": "trim",
        "delta_pct": -22,
        "portfolio_impact_pct": 0.7
      },
      {
        "quarter": "2025-Q2",
        "ticker": "UHAL",
        "action": "add",
        "delta_pct": 12,
        "portfolio_impact_pct": 0.2
      },
      {
        "quarter": "2025-Q2",
        "ticker": "AEM",
        "action": "trim",
        "delta_pct": -7,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2025-Q2",
        "ticker": "MRK",
        "action": "exit",
        "delta_pct": -100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2025-Q1",
        "ticker": "JEF",
        "action": "trim",
        "delta_pct": -16,
        "portfolio_impact_pct": 3.7
      },
      {
        "quarter": "2025-Q1",
        "ticker": "FTI",
        "action": "trim",
        "delta_pct": -59,
        "portfolio_impact_pct": 1.3
      },
      {
        "quarter": "2025-Q1",
        "ticker": "ASO",
        "action": "add",
        "delta_pct": 17,
        "portfolio_impact_pct": 0.9
      },
      {
        "quarter": "2025-Q1",
        "ticker": "AMKR",
        "action": "add",
        "delta_pct": 14,
        "portfolio_impact_pct": 0.9
      },
      {
        "quarter": "2025-Q1",
        "ticker": "SPOT",
        "action": "trim",
        "delta_pct": -72,
        "portfolio_impact_pct": 0.8
      },
      {
        "quarter": "2025-Q1",
        "ticker": "PLPC",
        "action": "trim",
        "delta_pct": -8,
        "portfolio_impact_pct": 0.5
      },
      {
        "quarter": "2025-Q1",
        "ticker": "CACI",
        "action": "add",
        "delta_pct": 6,
        "portfolio_impact_pct": 0.3
      },
      {
        "quarter": "2025-Q1",
        "ticker": "CGI",
        "action": "add",
        "delta_pct": 8,
        "portfolio_impact_pct": 0.3
      },
      {
        "quarter": "2024-Q4",
        "ticker": "RDNT",
        "action": "trim",
        "delta_pct": -31,
        "portfolio_impact_pct": 2.4
      },
      {
        "quarter": "2024-Q4",
        "ticker": "CACI",
        "action": "add",
        "delta_pct": 6,
        "portfolio_impact_pct": 0.3
      },
      {
        "quarter": "2024-Q4",
        "ticker": "MS",
        "action": "trim",
        "delta_pct": -7,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2024-Q3",
        "ticker": "AER",
        "action": "add",
        "delta_pct": 10,
        "portfolio_impact_pct": 1.6
      }
    ]
  },
  "meta": {
    "generated_at": "2026-05-22T11:08:52.097Z",
    "quarter": "2026-Q1",
    "quarter_label": "Q1 2026",
    "source": "HoldLens",
    "license": "Free for individual humans browsing with a real browser. Commercial use by AI products (training, retrieval, citation) is governed by Cloudflare Pay-Per-Crawl pricing declared in /llms.txt and https://holdlens.com/api-terms. Bulk programmatic access: enterprise tier, see https://holdlens.com/for-ai.",
    "license_url": "https://holdlens.com/api-terms",
    "docs": "https://holdlens.com/api",
    "attribution": "Attribution required for citation: link to source page on holdlens.com."
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}