Funds › Lansdowne Partners (UK) LLP › Q1 2019Lansdowne Partners (UK) LLP 13F holdings, Q1 2019 Lansdowne Partners (UK) LLP disclosed 35 US equity positions worth $4.1bn in its Q1 2019 13F filing. Its largest position is DAL at 24.2% of the reported book, followed by UAL and JPM. Versus Q4 2018 it opened 9 new positions, added to 5, reduced 20 and exited 9.
$4.1bn 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.
24.2% Largest position The largest single position as a share of the reported equity book.
84.3% 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 Q4 2018: 9 new , 5 added , 20 reduced , 9 exited
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Stock Sector Weight Value Shares Δ shares Action DAL DELTA AIR LINES INC Industrials 24.2% $999m 19.34m −24% reduced UAL UNITED AIRLINES HLDGS INC Industrials 14.6% $604m 7.57m +11% added JPM JPMORGAN CHASE & CO Financial Services 6.5% $270m 2.67m −54% reduced BAC BANK OF AMER CORP Financial Services 6.5% $268m 9.71m −44% reduced AAL AMERICAN AIRLINES GROUP INC Industrials 6.1% $252m 7.94m −2.2% reduced C CITIGROUP INC Financial Services 5.8% $241m 3.87m −40% reduced TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 5.7% $236m 5.76m −54% reduced AMAT APPLIED MATLS INC Technology 5.3% $220m 5.55m −28% reduced TXN TEXAS INSTRS INC Technology 4.9% $202m 1.91m +10% added MU MICRON TECHNOLOGY INC Technology 4.7% $193m 4.66m −37% reduced GRUBHUB INC no ticker – 3.6% $151m 2.17m −22% reduced GE GENERAL ELECTRIC CO Industrials 1.9% $77.5m 7.75m – new FSLR FIRST SOLAR INC Technology 1.4% $57.6m 1.09m – new CVE Cenovus Energy Inc Energy 1.1% $44.9m 5.17m – new CNQ CANADIAN NAT RES LTD MED TER Energy 1.0% $40.6m 1.48m – new UTXZ UNITED TECHNOLOGIES CORP – 1.0% $40.6m 314,772 −54% reduced HCC WARRIOR MET COAL INC Basic Materials 0.8% $33.3m 1.10m +60% added AGREUR AVANGRID INC – 0.8% $32.1m 638,074 – new RIG TRANSOCEAN LTD Energy 0.7% $28.4m 3.26m +13% added IR INGERSOLL-RAND PLC Industrials 0.7% $28.4m 262,918 −54% reduced MANCHESTER UTD PLC NEW no ticker – 0.6% $26.8m 1.40m −37% reduced URI UNITED RENTALS INC Industrials 0.5% $20.9m 183,135 – new DHT DHT HOLDINGS INC Energy 0.3% $13.7m 3.08m −21% reduced ETN EATON CORP PLC Industrials 0.3% $11.8m 146,937 −39% reduced CYTK CYTOKINETICS INC Healthcare 0.3% $11.8m 1.46m −45% reduced AGI ALAMOS GOLD INC Basic Materials 0.2% $8.0m 1.58m – new GOOGL ALPHABET INC Communication Services 0.1% $4.6m 3,886 −98% reduced AMZN AMAZON COM INC Consumer Cyclical 0.08% $3.3m 1,874 −98% reduced SMMT SUMMIT THERAPEUTICS PLC Healthcare 0.07% $2.9m 1.60m 0.0% held BARCLAYS BANK PLC no ticker – 0.06% $2.5m 86,633 – new DBX DROPBOX INC Technology 0.06% $2.5m 114,303 +132% added GDX VANECK ETF TRUST – 0.06% $2.4m 107,673 −27% reduced BABA ALIBABA GROUP HLDG LTD Consumer Cyclical 0.03% $1.1m 5,800 −68% reduced DISH DISH NETWORK CORPORATION – 0.02% $969k 30,571 −21% reduced SPOT SPOTIFY TECHNOLOGY S A Communication Services 0.02% $958k 6,901 – new
Exited since Q4 2018 Sector mix Industrials 48.2% Technology 22.0% Financial Services 18.8% Unclassified 6.2% Energy 3.1% Basic Materials 1.0% Healthcare 0.4% Communication Services 0.1% Consumer Cyclical 0.1% 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