Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供参考 · 非买入清单
Egerton Capital
quality_growth
B
Reliability improving可靠性走强
leaderboard rank榜单排名 #21FADE淡出
Book持仓规模
$10.4B
long US listed only仅美股多头
Positions持仓数
23
100% resolved已解析
Top-10 concentration前十集中度
76%
% of book占组合%
Turnover换手
LOW
23.7% per quarter每季
Median excess中位超额
-8%
buys vs SPY, since filing买入相对SPY，自披露起 · n 138
Hit rate胜率
36%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: AI Infrastructure — added APH, NVDA, AMAT (+18.5pp of book this quarter)核心倾向：AI 基础设施 — 本季度加仓 APH、NVDA、AMAT（占组合 +18.5pp）
AI InfrastructureAI 基础设施
+18.5pp
18.5% of book held占组合持有
· 3 names标的
· AI & Technology
APH
NVDA
AMAT
Technology (Equal-Weight)信息技术（等权）
+18.5pp
18.5% of book held占组合持有
· 3 names标的
· US Sectors (EW)
APHNVDAAMAT
Magnificent Seven七巨头
+14.8pp
14.8% of book held占组合持有
· 2 names标的
· AI & Technology
AMZNNVDA
Materials (Equal-Weight)材料（等权）
+10.2pp
11.7% of book held占组合持有
· 3 names标的
· US Sectors (EW)
VMC
CRH
Financials (Equal-Weight)金融（等权）
+8.8pp
28.2% of book held占组合持有
· 5 names标的
· US Sectors (EW)
MCO
SPGI
Non-AI Tech & Hardware非AI科技与硬件
+8.3pp
8.3% of book held占组合持有
· 1 names标的
· Semiconductors & Hardware
APH
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新披露的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开披露日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: improving走强 · 13 scored quarters已评分季度 · 8% positive为正 · recent-4 median近4季中位 -3% vs all-time对全期 -15%
Median excess by quarter各季度中位超额: █▄▁▃▃▂▃▃▅▅▅▅ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-06-30 | 11 | -29% | 27% | -0% |
| 2023-09-30 | 7 | +14% | 57% | -4% |
| 2023-12-31 | 9 | -9% | 33% | +4% |
| 2024-03-31 | 7 | -36% | 29% | -6% |
| 2024-06-30 | 9 | -17% | 44% | +5% |
| 2024-09-30 | 11 | -19% | 27% | -4% |
| 2024-12-31 | 10 | -24% | 20% | +7% |
| 2025-03-31 | 13 | -15% | 38% | -6% |
| 2025-06-30 | 10 | -19% | 30% | -7% |
| 2025-09-30 | 9 | -1% | 33% | +2% |
| 2025-12-31 | 13 | -2% | 46% | -2% |
| 2026-03-31 | 13 | -5% | 46% | -3% |
| 2026-06-30 | 16 | -4% | 31% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新披露；季度环比变化对上季Current weights当前权重 · 2026-06-30
Financial
28.9%
▼ -4.5pp
Technology
20.1%
▲ +7.2pp
Basic Materials
11.7%
▼ -2.8pp
Communication Services
11.2%
▼ -0.7pp
Healthcare
8.4%
▲ +4.2pp
Consumer Cyclical
8.2%
▲ +2.8pp
Industrials
6.0%
▼ -2.3pp
Energy
3.0%
▼ -3.7pp
Real Estate
1.6%
▲ +0.1pp
Utilities
0.7%
▲ +0.7pp
Theme categories主题类别
US Sectors (EW) 39.1%
AI & Technology 26.8%
Financials 15.9%
Energy & Power 3.8%
Industrials 2.3%
Artificial Intelligence 0.7%
Rotating into (QoQ)轮入（环比）
Technology +7.2pp
Healthcare +4.2pp
Consumer Cyclical +2.8pp
Rotating out of (QoQ)轮出（环比）
Financial -4.5pp
Energy -3.7pp
Basic Materials -2.8pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-06-30 | Financial 29% · Technology 20% · Basic Materials 12% |
| 2026-03-31 | Financial 33% · Basic Materials 14% · Technology 13% |
| 2025-12-31 | Financial 36% · Consumer Cyclical 17% · Technology 17% |
| 2025-09-30 | Financial 33% · Technology 15% · Industrials 13% |
| 2025-06-30 | Financial 38% · Industrials 18% · Technology 13% |
| 2025-03-31 | Financial 40% · Unclassified 13% · Industrials 11% |
| 2024-12-31 | Financial 37% · Unclassified 13% · Industrials 11% |
| 2024-09-30 | Financial 33% · Industrials 12% · Communication Services 11% |
| 2024-06-30 | Financial 29% · Industrials 17% · Consumer Cyclical 14% |
| 2024-03-31 | Financial 28% · Industrials 23% · Consumer Cyclical 14% |
| 2023-12-31 | Financial 26% · Industrials 23% · Consumer Cyclical 14% |
| 2023-09-30 | Financial 30% · Industrials 26% · Communication Services 15% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至披露日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。23 positions shown项持仓 · resolved已解析 23/23 (100%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自披露 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  V |
Visa Inc | 14.1% | $1.5B | hold | +4% | — | 70 · HIGH | Financial | Payments & Fintech, Financials (Equal-Weight) | +4% |
| 2 |  GOOG |
Alphabet Inc | 11.2% | $1.2B | hold | -5% | — | 68 · MODERATE | Communication Services | Communication Services (Equal-Weight) | -2% |
| 3 | APH |
Amphenol Corp | 8.3% | $858M | add | +70% | 1q | 72 · HIGH | Technology | AI Infrastructure, Non-AI Tech & Hardware, Technology (Equal-Weight) | -2% |
| 4 | AMZN |
Amazon Com Inc | 8.2% | $852M | add | +51% | 1q | 70 · HIGH | Consumer Cyclical | Magnificent Seven, Consumer Discretionary (Equal-Weight) | +1% |
| 5 | MCO |
Moodys Corp | 7.5% | $772M | add | +10% | 3q | 79 · HIGH | Financial | Financials (Equal-Weight) | -4% |
| 6 | NVDA |
Nvidia Corporation | 6.6% | $684M | add | +28% | 2q | 72 · HIGH | Technology | Magnificent Seven, AI Infrastructure, AI Semiconductors | +0% |
| 7 |  MDLN |
Medline Inc | 6.3% | $650M | add | +277% | 2q | 71 · HIGH | Healthcare | — | -14% |
| 8 | VMC |
Vulcan Matls Co | 5.6% | $582M | add | +11% | 3q | 74 · HIGH | Basic Materials | Materials (Equal-Weight) | -11% |
| 9 | CRH |
Crh Plc | 4.5% | $469M | add | +59% | 2q | 68 · MODERATE | Basic Materials | Materials (Equal-Weight) | -13% |
| 10 | AMAT |
Applied Matls Inc | 3.6% | $377M | new | — | 1q | 61 · MODERATE | Technology | AI Infrastructure, Semiconductor Equipment (WFE), Technology (Equal-Weight) | -26% |
| 11 |  IBKR |
Interactive Brokers Group In | 3.5% | $359M | trim | -34% | — | 30 · LOW | Financial | Financials (Equal-Weight) | -5% |
| 12 |  DVN |
Devon Energy Corp New | 3.0% | $312M | add | +16% | 2q | 38 · LOW | Energy | US Energy Complex, Energy (Equal-Weight) | +11% |
| 13 |  FERG |
Ferguson Enterprises Inc | 2.3% | $239M | add | +59% | 1q | 32 · LOW | Industrials | Industrial Distribution & Capital Goods | -4% |
| 14 |  EFX |
Equifax Inc | 2.3% | $235M | new | — | 1q | 30 · LOW | Industrials | Industrials (Equal-Weight) | -2% |
| 15 |  EMBJ |
Embraer S.a. | 2.1% | $216M | add | +14% | 1q | 29 · LOW | Healthcare | — | +13% |
| 16 |  MA |
Mastercard Incorporated | 1.8% | $187M | trim | -21% | — | 22 · LOW | Financial | Payments & Fintech, Financials (Equal-Weight) | +5% |
| 17 |  LAMR |
Lamar Advertising Co | 1.6% | $170M | hold | +0% | — | 21 · LOW | Real Estate | — | -9% |
| 18 |  UBER |
Uber Technologies Inc | 1.6% | $167M | trim | -50% | — | 19 · LOW | Technology | Industrials (Equal-Weight) | -0% |
| 19 |  LIN |
Linde Plc | 1.5% | $156M | trim | -72% | — | 18 · LOW | Basic Materials | Materials (Equal-Weight) | -9% |
| 20 |  AWI |
Armstrong World Inds Inc New | 1.4% | $148M | add | +106% | 2q | 26 · LOW | Industrials | — | +6% |
| 21 | SPGI |
S&p Global Inc | 1.4% | $143M | new | — | 1q | 10 · LOW | Financial | Financials (Equal-Weight) | -4% |
| 22 |  VST |
Vistra Corp | 0.7% | $77M | new | — | 1q | 8 · LOW | Utilities | Power & Grid Buildout, Nuclear & SMR Power, Utilities (Equal-Weight) | -15% |
| 23 |  RIOT |
Riot Platforms Inc | 0.7% | $72M | new | — | 1q | 6 · LOW | Financial | AI Neoclouds & HPC Hosting | -4% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本披露周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (16)
| APH add |
8.3% | -2% |
| AMZN add |
8.2% | +1% |
| MCO add |
7.5% | -4% |
| NVDA add |
6.6% | +0% |
| MDLN add |
6.3% | -14% |
| VMC add |
5.6% | -11% |
| CRH add |
4.5% | -13% |
| AMAT new |
3.6% | -26% |
| DVN add |
3.0% | +11% |
| FERG add |
2.3% | -4% |
| EFX new |
2.3% | -2% |
| EMBJ add |
2.1% | +13% |
| AWI add |
1.4% | +6% |
| SPGI new |
1.4% | -4% |
| VST new |
0.7% | -15% |
| RIOT new |
0.7% | -4% |
Rotated out of轮出 (9)
| IBKR trim |
-34% | -5% |
| MA trim |
-21% | +5% |
| UBER trim |
-50% | -0% |
| LIN trim |
-72% | -9% |
 CME exit |
-100% | +14% |
 CNQ exit |
-100% | +10% |
 CRS exit |
-100% | -30% |
 NYT exit |
-100% | -11% |
 RNR exit |
-100% | +0% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以披露日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, reported long positions from managers with at least $100M in Section 13(f) securities. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量披露日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。