AltaRock Partners

Q2 2025 13F · by Mark Massey, founder

As of: Jun 30, 2025
Filed: Aug 13, 2025
US stock: $5.5B · prev $5.0B
Positions: 9 · prev 9
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves5 since the prior filing

+6.5 pp in · −9.9 pp out

New 0 0.00 pp
Added 3 +6.46 pp
Trimmed 2 −9.90 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 5 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 23% a year, about 4.4 years per position

Low
Moderate
High

Top 5 positions91% of US stock

TDG TransDigm Group Incorporated held held27.2%
AMZN Amazon.Com Inc added+5.24 pp added+5.2425.1%
MSFT Microsoft Corp held held23.4%
MCO Moody's Corporation added−0.18 pp added−0.188.7%
MA Mastercard Incorporated held held6.0%

Positions9 in this filing · 0 exited


TDGTransDigm Group Incorporated	27.21%	979,950	$1.5B	held	—	43 q
AMZNAmazon.Com Inc	25.14%	6,275,906	$1.4B	added+21%	+5.24 pp	14 q
MSFTMicrosoft Corp	23.42%	2,578,649	$1.3B	held	—	17 q
MCOMoody's Corporation	8.72%	952,254	$478M	added0%	−0.18 pp	43 q
MAMastercard Incorporated	6.01%	586,254	$329M	held	—	43 q
VVISA Inc.	3.47%	535,412	$190M	trimmed−37%	−2.52 pp	43 q
GOOGLAlphabet Inc. Class A	3.36%	1,045,429	$184M	trimmed−70%	−7.38 pp	23 q
HLTHilton Worldwide Holdings Inc.	2.65%	544,596	$145M	added+99%	+1.40 pp	3 q
FICOFair Isaac Corporation	0.02%	670	$1M	held	—	5 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001104659-25-078208
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet