Bristol Gate Capital Partners
Bristolgate US Equity Strategy
US
Sep 2025 → Sep 2026
Our archive holds 3 letters from this strategy, behind 4 investment theses and positions in 21 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in 2 years · follow all of Bristol Gate Capital Partners for every strategy.
What it bought and sold
Garmin, which we purchased at the end of the quarter, is a vertically integrated designer and manufacturer of GPS-enabled devices.
We sold Verisk given better prospects for returns and dividend growth elsewhere.
The strategy benefited from our disciplined rebalancing process, as these names were trimmed at the end of June after having significant gains in the second quarter.
The strategy benefited from our disciplined rebalancing process, as these names were trimmed at the end of June after having significant gains in the second quarter.
The additions were funded by the sales of UnitedHealth, Domino’s Pizza, Carrier and Old Dominion Freight Line, which all faced lower dividend growth predictions.
We switched from Carrier Global (CARR) to Trane Technologies (TT).
The additions were funded by the sales of UnitedHealth, Domino’s Pizza, Carrier and Old Dominion Freight Line, which all faced lower dividend growth predictions.
The additions were funded by the sales of UnitedHealth, Domino’s Pizza, Carrier and Old Dominion Freight Line, which all faced lower dividend growth predictions.
We switched from Carrier Global (CARR) to Trane Technologies (TT).
Also held
Its investment theses
- GarminSep 2026Garmin has diversified end markets, vertical integration, strong capital returns, and room for durable free-cash-flow and dividend growth.
- WalmartMar 2026Walmart is a leading global retailer with omnichannel growth, AI-enabled efficiency gains, and structural margin expansion.
- Targa ResourcesMar 2026Targa Resources is a fee-based midstream energy infrastructure company positioned to benefit from Permian production growth and strong dividend growth.
- AmphenolSep 2025Amphenol is a high-quality, defensible franchise with strong growth potential and robust dividend growth driven by its proprietary technology and demand in the Information and Datacom segment.