Durable Capital

Q1 2020 13F · by Henry Ellenbogen, CIO

As of: Mar 31, 2020
Filed: May 15, 2020
US stock: $4.9B · prev $3.2B
Positions: 44 · prev 3
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%

Moves43 since the prior filing

+4.5 pp in · 0.0 pp out

New 41 +43.43 pp
Added 2 −38.89 pp
Trimmed 0 0.00 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 5 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.0% a year

Low
Moderate
High

Top 5 positions63% of US stock

SPY State Street SPDR S&P 500 ETF Trust added−33.93 pp added−33.9343.9%
IWM iShares Russell 2000 ETF added−4.96 pp added−4.9610.6%
ROP Roper Technologies, Inc. new+3.19 pp new+3.193.2%
WST West Pharmaceutical Services, Inc. new+2.92 pp new+2.922.9%
RDFN Redfin Corporation new+2.85 pp new+2.852.9%

Positions44 in this filing · 0 exited


SPYState Street SPDR S&P 500 ETF Trust	43.91%	8,378,523	$2.2B	added+8%	−33.93 pp	2 q
IWMiShares Russell 2000 ETF	10.60%	4,553,535	$521M	added+51%	−4.96 pp	2 q
ROPRoper Technologies, Inc.	3.19%	502,645	$157M	new	+3.19 pp	new
WSTWest Pharmaceutical Services, Inc.	2.92%	942,821	$144M	new	+2.92 pp	new
RDFNRedfin Corporation	2.85%	9,093,415	$140M	new	+2.85 pp	new
MSCIMSCI, Inc.	2.33%	396,073	$114M	new	+2.33 pp	new
unresolvedAtlassian Corp Plc	2.31%	826,554	$113M	new	+2.31 pp	new
KWRQuaker Houghton	2.17%	845,994	$107M	new	+2.17 pp	new
BFAMBright Horizons Family Solutions Inc.	2.16%	1,043,028	$106M	new	+2.16 pp	new
XPXP Inc. Class A	2.08%	5,500,000	$102M	held	—	2 q
MTNVail Resorts, Inc.	1.77%	590,814	$87M	new	+1.77 pp	new
COUPCoupa Software Incorporated	1.74%	611,055	$85M	new	+1.74 pp	new
FSVFirstService Corporation	1.49%	947,969	$73M	new	+1.49 pp	new
ODFLOld Dominion Freight Line	1.45%	543,882	$71M	new	+1.45 pp	new
IRIngersoll Rand Inc.	1.30%	2,569,140	$64M	new	+1.30 pp	new
GFLGFL Environmental Inc. Subordinate Voting Shares	1.29%	4,210,424	$63M	new	+1.29 pp	new
DAYDayforce, Inc.	1.18%	1,159,358	$58M	new	+1.18 pp	new
IDXXIdexx Laboratories Inc	1.12%	227,540	$55M	new	+1.12 pp	new
TRUTransUnion	1.07%	798,260	$53M	new	+1.07 pp	new
CARGCarGurus, Inc. Class A	1.05%	2,714,288	$51M	new	+1.05 pp	new
BKIBlack Knight, Inc.	1.04%	883,153	$51M	new	+1.04 pp	new
ITGartner, Inc.	1.00%	493,755	$49M	new	+1.00 pp	new
TWLOTwilio Inc.	1.00%	550,338	$49M	new	+1.00 pp	new
WCNWaste Connections, Inc.	0.96%	609,955	$47M	new	+0.96 pp	new
RBCRBC Bearings Incorporated	0.92%	399,048	$45M	new	+0.92 pp	new
IACIIac / Interactivecorp (De) Com Stk	0.85%	233,077	$42M	new	+0.85 pp	new
CABOCable One, Inc.	0.71%	21,255	$35M	new	+0.71 pp	new
TTCToro Company (The)	0.57%	431,856	$28M	new	+0.57 pp	new
AWIArmstrong World Industries, Inc.	0.51%	318,566	$25M	new	+0.51 pp	new
BURLBurlington Stores, Inc.	0.50%	156,593	$25M	new	+0.50 pp	new
INTUIntuit Inc	0.49%	103,807	$24M	new	+0.49 pp	new
unresolvedOutfront Media Inc	0.48%	1,751,699	$24M	new	+0.48 pp	new
EYENational Vision Holdings, Inc.	0.43%	1,090,552	$21M	new	+0.43 pp	new
DDOGDatadog, Inc. Class A	0.39%	534,472	$19M	new	+0.39 pp	new
SVMKSVMK Inc.	0.35%	1,281,416	$17M	new	+0.35 pp	new
DSGXDescartes Systems Group Inc	0.32%	456,815	$16M	new	+0.32 pp	new
ANGIAngi Inc. Class A	0.26%	2,441,685	$13M	new	+0.26 pp	new
FTCHQFarfetch Limited A	0.25%	1,564,620	$12M	new	+0.25 pp	new
GSHDGoosehead Insurance, Inc. Class A	0.22%	243,616	$11M	new	+0.22 pp	new
ROLRollins, Inc.	0.22%	300,000	$11M	new	+0.22 pp	new
WIXWIX.com Ltd.	0.20%	96,136	$10M	new	+0.20 pp	new
EBEventbrite, Inc. Class A	0.13%	852,900	$6M	new	+0.13 pp	new
EXKExact Sciences Corp	0.12%	99,439	$6M	new	+0.12 pp	new
LIILennox International Inc.	0.12%	32,914	$6M	new	+0.12 pp	new