John Armitage's Egerton Capital has completely sold off its position in semiconductor equipment manufacturer Applied Materials (AMAT), according to a recent quarterly filing. The disclosure, which reflects holdings as of September 30, 2026, revealed the sale of all 521.07K shares, previously valued at approximately $376.73 million.
This is a notable reversal, as the stake represented a significant 3.64% of Egerton's reported portfolio. Investors should note that 13F filings are submitted to the SEC up to 45 days after a quarter ends, so these trades occurred at an undetermined time between July 1 and September 30. The exit follows a period where Applied Materials had been a positive contributor to the firm's performance, particularly in the run-up to its strong third-quarter earnings report in August.