Funds › Lansdowne Partners (UK) LLP › Q4 2018Lansdowne Partners (UK) LLP 13F holdings, Q4 2018 Lansdowne Partners (UK) LLP disclosed 35 US equity positions worth $5.4bn in its Q4 2018 13F filing. Its largest position is DAL at 23.4% of the reported book, followed by UAL and JPM. Versus Q3 2018 it opened 5 new positions, added to 8, reduced 16 and exited 9.
$5.4bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
35 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
23.4% Largest position The largest single position as a share of the reported equity book.
84.9% Top 10 weight The ten largest positions together, as a share of the reported equity book.
9 Effective positions 1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
49 Quarters on file since Q2 2014 Quarters for which this manager's 13F holdings are on record. Holdings Against Q3 2018: 5 new , 8 added , 16 reduced , 9 exited
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Stock Sector Weight Value Shares Δ shares Action DAL DELTA AIR LINES INC Industrials 23.4% $1.3bn 25.40m −3.5% reduced UAL UNITED AIRLINES HLDGS INC Industrials 10.6% $572m 6.84m +31% added JPM JPMORGAN CHASE & CO Financial Services 10.4% $563m 5.77m −28% reduced TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 8.6% $467m 12.64m −37% reduced BAC BANK OF AMER CORP Financial Services 7.9% $425m 17.26m −37% reduced C CITIGROUP INC Financial Services 6.2% $338m 6.48m −17% reduced AAL AMERICAN AIRLINES GROUP INC Industrials 4.8% $261m 8.12m +9.9% added AMAT APPLIED MATLS INC Technology 4.6% $251m 7.68m −0.9% reduced MU MICRON TECHNOLOGY INC Technology 4.3% $235m 7.40m – new GRUBHUB INC no ticker – 3.9% $212m 2.77m +18% added GOOGL ALPHABET INC Communication Services 3.3% $180m 172,485 −62% reduced AMZN AMAZON COM INC Consumer Cyclical 3.1% $170m 112,910 −60% reduced TXN TEXAS INSTRS INC Technology 3.0% $163m 1.73m −63% reduced UTXZ UNITED TECHNOLOGIES CORP – 1.4% $73.3m 688,340 −9.1% reduced IR INGERSOLL-RAND PLC Industrials 1.0% $52.6m 576,274 +44% added MANCHESTER UTD PLC NEW no ticker – 0.8% $42.3m 2.23m −16% reduced APC3EUR ANADARKO PETE CORP – 0.4% $23.4m 534,590 – new RIG TRANSOCEAN LTD Energy 0.4% $19.9m 2.87m +96% added CYTK CYTOKINETICS INC Healthcare 0.3% $16.7m 2.65m 0.0% held HCC WARRIOR MET COAL INC Basic Materials 0.3% $16.5m 683,987 −16% reduced ETN EATON CORP PLC Industrials 0.3% $16.5m 239,905 −4.2% reduced DHT DHT HOLDINGS INC Energy 0.3% $15.2m 3.88m +6.4% added BKNG BOOKING HOLDINGS INC Consumer Cyclical 0.07% $3.8m 2,177 +34% added UNH UNITEDHEALTH GROUP INC Healthcare 0.06% $3.4m 13,618 −37% reduced MSFT MICROSOFT CORP Technology 0.06% $3.3m 32,058 0.0% held GDX VANECK ETF TRUST – 0.06% $3.1m 147,789 – new ENSCO PLC no ticker – 0.05% $2.7m 767,032 −79% reduced BABA ALIBABA GROUP HLDG LTD Consumer Cyclical 0.05% $2.5m 18,143 −99% reduced SWK STANLEY BLACK & DECKER INC Industrials 0.05% $2.5m 20,527 0.0% held PYPL PAYPAL HLDGS INC Financial Services 0.04% $2.3m 27,172 – new SMMT SUMMIT THERAPEUTICS PLC Healthcare 0.03% $1.8m 1.60m 0.0% held ZAYOEUR ZAYO GROUP HLDGS INC – 0.02% $1.3m 56,641 0.0% held TSLA TESLA INC Consumer Cyclical 0.02% $1.1m 3,386 – new DBX DROPBOX INC Technology 0.02% $1.0m 49,353 0.0% held DISH DISH NETWORK CORPORATION – 0.02% $960k 38,463 +50% added
Exited since Q3 2018 Sector mix Industrials 40.1% Financial Services 24.5% Technology 20.7% Unclassified 6.6% Communication Services 3.3% Consumer Cyclical 3.3% Energy 0.6% Healthcare 0.4% Basic Materials 0.3% Book over time Every quarter on file (49) Where Lansdowne Partners (UK) LLP was early Concentration and tenure
18.1% Median largest position, all quarters The largest single position as a share of the reported equity book.
90.3% Median top 10 weight, all quarters The ten largest positions together, as a share of the reported equity book.
Concentrated Style, by median largest position
2 Median completed holding, quarters