Durable Capital

Q2 2020 13F · by Henry Ellenbogen, CIO

As of: Jun 30, 2020
Filed: Aug 14, 2020
US stock: $8.0B · prev $4.9B
Positions: 43 · prev 44
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%

Moves51 since the prior filing

+57.6 pp in · −59.5 pp out

New 8 +14.07 pp
Added 32 +43.57 pp
Trimmed 2 −1.27 pp
Exited 9 −58.27 pp

The book

Focused · behaves like 31 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 145% a year, about 0.7 years per position

Low
Moderate
High

Top 5 positions26% of US stock

BFAM Bright Horizons Family Solutions Inc. added+4.06 pp added+4.066.2%
IACI Iac / Interactivecorp (De) Com Stk added+5.12 pp added+5.126.0%
WIX WIX.com Ltd. added+5.47 pp added+5.475.7%
RDFN Redfin Corporation held held4.8%
FSV FirstService Corporation added+2.16 pp added+2.163.6%

Positions43 in this filing · 9 exited


BFAMBright Horizons Family Solutions Inc.	6.22%	4,260,161	$499M	added×4.1	+4.06 pp	2 q
IACIIac / Interactivecorp (De) Com Stk	5.97%	1,483,303	$480M	added×6.4	+5.12 pp	2 q
WIXWIX.com Ltd.	5.67%	1,777,925	$456M	added×18.5	+5.47 pp	2 q
RDFNRedfin Corporation	4.75%	9,093,415	$381M	held	—	2 q
FSVFirstService Corporation	3.65%	2,905,843	$293M	added×3.1	+2.16 pp	2 q
WSTWest Pharmaceutical Services, Inc.	3.51%	1,241,191	$282M	added+32%	+0.59 pp	2 q
KWRQuaker Houghton	3.49%	1,508,330	$280M	added+78%	+1.32 pp	2 q
BKIBlack Knight, Inc.	3.48%	3,851,355	$279M	added×4.4	+2.44 pp	2 q
COUPCoupa Software Incorporated	3.45%	998,531	$277M	added+63%	+1.71 pp	2 q
TWLOTwilio Inc.	3.44%	1,257,186	$276M	added×2.3	+2.44 pp	2 q
VRMVroom, Inc.	3.41%	5,425,934	$274M	new	+3.41 pp	new
INTUIntuit Inc	3.31%	897,225	$266M	added×8.6	+2.82 pp	2 q
ROPRoper Technologies, Inc.	3.16%	653,309	$254M	added+30%	−0.03 pp	2 q
XPXP Inc. Class A	3.14%	6,010,358	$252M	added+9%	+1.06 pp	3 q
MSCIMSCI, Inc.	2.81%	676,982	$226M	added+71%	+0.48 pp	2 q
SHOPShopify Inc. Class A subordinate voting shares	2.75%	232,915	$221M	new	+2.75 pp	new
RHRh	2.56%	824,329	$205M	new	+2.56 pp	new
LIILennox International Inc.	2.55%	880,365	$205M	added×26.7	+2.43 pp	2 q
SAMBoston Beer Company	2.45%	367,086	$197M	new	+2.45 pp	new
DDOGDatadog, Inc. Class A	2.44%	2,250,133	$196M	added×4.2	+2.05 pp	2 q
WCNWaste Connections, Inc.	2.23%	1,908,390	$179M	added×3.1	+1.27 pp	2 q
CARGCarGurus, Inc. Class A	2.10%	6,644,147	$168M	added×2.4	+1.05 pp	2 q
unresolvedAtlassian Corp Plc	2.10%	933,559	$168M	added+13%	−0.21 pp	2 q
IRIngersoll Rand Inc.	1.88%	5,364,757	$151M	added×2.1	+0.58 pp	2 q
IDXXIdexx Laboratories Inc	1.87%	455,834	$150M	added×2.0	+0.75 pp	2 q
RBCRBC Bearings Incorporated	1.74%	1,042,279	$140M	added×2.6	+0.82 pp	2 q
DAYDayforce, Inc.	1.62%	1,638,147	$130M	added+41%	+0.44 pp	2 q
JBHTJB Hunt Transport Services Inc	1.48%	985,129	$119M	new	+1.48 pp	new
MTNVail Resorts, Inc.	1.48%	652,618	$119M	added+10%	−0.29 pp	2 q
EXKExact Sciences Corp	1.26%	1,166,192	$101M	added×11.7	+1.14 pp	2 q
FTCHQFarfetch Limited A	1.23%	5,725,351	$99M	added×3.7	+0.98 pp	2 q
TTCToro Company (The)	1.15%	1,394,157	$92M	added×3.2	+0.58 pp	2 q
EYENational Vision Holdings, Inc.	1.07%	2,816,700	$86M	added×2.6	+0.64 pp	2 q
BURLBurlington Stores, Inc.	1.03%	419,651	$83M	added×2.7	+0.53 pp	2 q
DSGXDescartes Systems Group Inc	0.95%	1,437,194	$76M	added×3.1	+0.63 pp	2 q
GFLGFL Environmental Inc. Subordinate Voting Shares	0.82%	3,492,185	$66M	trimmed−17%	−0.47 pp	2 q
ANGIAngi Inc. Class A	0.77%	5,088,370	$62M	added×2.1	+0.51 pp	2 q
ODFLOld Dominion Freight Line	0.65%	307,646	$52M	trimmed−43%	−0.80 pp	2 q
FOURShift4 Payments, Inc.	0.59%	1,329,148	$47M	new	+0.59 pp	new
CNNECannae Holdings, Inc.	0.55%	1,076,773	$44M	new	+0.55 pp	new
CABOCable One, Inc.	0.48%	21,643	$38M	added+2%	−0.23 pp	2 q
GSHDGoosehead Insurance, Inc. Class A	0.48%	512,612	$39M	added×2.1	+0.26 pp	2 q
BILLBILL Holdings, Inc.	0.28%	250,816	$23M	new	+0.28 pp	new
SPYState Street SPDR S&P 500 ETF Trust	—	−8,378,523	—	exited	−43.91 pp	—
IWMiShares Russell 2000 ETF	—	−4,553,535	—	exited	−10.60 pp	—
TRUTransUnion	—	−798,260	—	exited	−1.07 pp	—
ITGartner, Inc.	—	−493,755	—	exited	−1.00 pp	—
AWIArmstrong World Industries, Inc.	—	−318,566	—	exited	−0.51 pp	—
unresolvedOutfront Media Inc	—	−1,751,699	—	exited	−0.48 pp	—
SVMKSVMK Inc.	—	−1,281,416	—	exited	−0.35 pp	—
ROLRollins, Inc.	—	−300,000	—	exited	−0.22 pp	—
EBEventbrite, Inc. Class A	—	−852,900	—	exited	−0.13 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001798849-20-000008
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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