Durable Capital

Q4 2021 13F · by Henry Ellenbogen, CIO

As of: Dec 31, 2021
Filed: Feb 14, 2022
US stock: $12.8B · prev $13.2B
Positions: 59 · prev 65
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%

Moves63 since the prior filing

+13.6 pp in · −13.3 pp out

New 4 +3.38 pp
Added 17 +10.19 pp
Trimmed 32 −11.50 pp
Exited 10 −1.83 pp

The book

Focused · behaves like 33 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 46% a year, about 2.2 years per position

Low
Moderate
High

Top 5 positions26% of US stock

INTU Intuit Inc added+1.38 pp added+1.386.6%
JBHT JB Hunt Transport Services Inc trimmed+0.99 pp trimmed+0.995.2%
FSV FirstService Corporation trimmed+0.37 pp trimmed+0.374.8%
SHOP Shopify Inc. Class A subordinate voting shares trimmed−0.68 pp trimmed−0.684.8%
MSCI MSCI, Inc. added+0.48 pp added+0.484.6%

Positions59 in this filing · 10 exited


INTUIntuit Inc	6.58%	1,309,106	$842M	added+3%	+1.38 pp	8 q
JBHTJB Hunt Transport Services Inc	5.23%	3,274,436	$669M	trimmed−2%	+0.99 pp	7 q
FSVFirstService Corporation	4.84%	3,152,276	$619M	trimmed−4%	+0.37 pp	8 q
SHOPShopify Inc. Class A subordinate voting shares	4.83%	448,722	$618M	trimmed−16%	−0.68 pp	7 q
MSCIMSCI, Inc.	4.58%	956,595	$586M	added+7%	+0.48 pp	8 q
CFLTConfluent, Inc. Class A	4.09%	6,863,959	$523M	added+14%	+1.44 pp	3 q
WRBYWarby Parker Inc.	3.78%	10,402,912	$484M	added+32%	+0.61 pp	2 q
MTNVail Resorts, Inc.	3.66%	1,430,023	$469M	added+26%	+0.78 pp	4 q
ROPRoper Technologies, Inc.	3.54%	922,357	$454M	added+20%	+0.94 pp	8 q
WSTWest Pharmaceutical Services, Inc.	3.15%	859,210	$403M	held	—	8 q
RHRh	2.77%	660,407	$354M	trimmed−16%	−1.21 pp	7 q
DDOGDatadog, Inc. Class A	2.66%	1,914,308	$341M	added×20.6	+2.56 pp	2 q
KWRQuaker Houghton	2.64%	1,464,443	$338M	trimmed−2%	−0.05 pp	8 q
BKIBlack Knight, Inc.	2.62%	4,037,988	$335M	trimmed−32%	−0.64 pp	8 q
IRIngersoll Rand Inc.	2.60%	5,379,462	$333M	trimmed−1%	+0.53 pp	8 q
RDFNRedfin Corporation	2.60%	8,662,502	$333M	trimmed−3%	−0.80 pp	8 q
DAYDayforce, Inc.	2.44%	2,986,485	$312M	added+4%	−0.01 pp	8 q
DASHDoorDash, Inc. Class A	2.26%	1,939,962	$289M	trimmed−10%	−1.09 pp	5 q
TWLOTwilio Inc.	2.18%	1,057,585	$279M	trimmed−5%	−0.50 pp	8 q
CPNGCoupang, Inc.	2.14%	9,330,823	$274M	added+10%	+0.35 pp	4 q
YOUClear Secure, Inc.	2.10%	8,566,942	$269M	held	—	3 q
RBCRBC Bearings Incorporated	1.98%	1,251,919	$253M	trimmed−11%	−0.29 pp	8 q
DUOLDuolingo, Inc. Class A	1.68%	2,032,902	$215M	added×2.6	+0.70 pp	2 q
WCNWaste Connections, Inc.	1.55%	1,459,832	$199M	trimmed−4%	+0.11 pp	8 q
PTONPeloton Interactive, Inc. Class A	1.52%	5,434,782	$194M	new	+1.52 pp	new
ONONOn Holding AG	1.47%	5,141,356	$188M	trimmed−20%	+0.05 pp	2 q
CWANClearwater Analytics Hds-a	1.41%	8,037,371	$180M	added+14%	+0.07 pp	2 q
SAMBoston Beer Company	1.16%	294,536	$149M	trimmed−37%	−0.63 pp	7 q
AFRMAffirm Holdings, Inc. Class A	1.13%	1,441,576	$145M	trimmed−40%	−1.05 pp	4 q
BURLBurlington Stores, Inc.	1.12%	491,554	$143M	added+52%	+0.43 pp	8 q
XPXP Inc. Class A	1.11%	4,959,518	$143M	trimmed−8%	−0.53 pp	9 q
EYENational Vision Holdings, Inc.	1.09%	2,896,397	$139M	added+30%	+0.13 pp	8 q
PPLIPeople Incorporated	1.08%	1,056,465	$138M	trimmed−28%	−0.36 pp	3 q
unresolvedColfax Corp	1.07%	2,967,359	$136M	trimmed−38%	−0.60 pp	2 q
COUPCoupa Software Incorporated	1.04%	844,533	$133M	trimmed−22%	−0.76 pp	8 q
DSGXDescartes Systems Group Inc	1.04%	1,609,332	$133M	added+18%	+0.20 pp	8 q
unresolvedAgilon Health Inc	0.96%	4,556,335	$123M	trimmed−29%	−0.31 pp	3 q
TOSTToast, Inc.	0.82%	3,155,302	$104M	trimmed−14%	−0.49 pp	2 q
GSHDGoosehead Insurance, Inc. Class A	0.76%	749,492	$97M	trimmed−9%	−0.19 pp	8 q
FOURShift4 Payments, Inc.	0.69%	1,516,938	$88M	trimmed−52%	−1.15 pp	7 q
SGRYSurgery Partners, Inc.	0.66%	1,593,229	$85M	new	+0.66 pp	new
SGSweetgreen, Inc.	0.64%	2,631,327	$82M	new	+0.64 pp	new
XMTRXometry, Inc. Class A	0.58%	1,445,516	$74M	held	—	3 q
EXFYExpensify, Inc. Class A	0.56%	1,623,692	$71M	new	+0.56 pp	new
WIXWIX.com Ltd.	0.56%	455,590	$72M	trimmed−28%	−0.38 pp	8 q
UPWKUpwork Inc.	0.49%	1,823,822	$62M	trimmed−22%	−0.31 pp	3 q
DOCSDoximity, Inc.	0.42%	1,066,187	$53M	added+42%	−0.04 pp	3 q
FTCHQFarfetch Limited A	0.40%	1,540,747	$52M	trimmed−28%	−0.21 pp	8 q
SRADSportradar Group AG Class A	0.31%	2,263,224	$40M	added×2.3	+0.14 pp	2 q
unresolvedCazoo Group Ltd	0.24%	5,127,547	$30M	held	—	2 q
ACCDAccolade, Inc.	0.22%	1,057,390	$28M	trimmed−15%	−0.18 pp	6 q
XMQualtrics International Inc. Class A	0.22%	798,577	$28M	held	—	4 q
VRMVroom, Inc.	0.19%	2,256,636	$24M	trimmed−46%	−0.51 pp	7 q
4KSVimeo Inc	0.16%	1,162,940	$21M	trimmed−33%	−0.22 pp	3 q
CARGCarGurus, Inc. Class A	0.13%	511,561	$17M	added+22%	+0.03 pp	8 q
unresolvedAbcam Plc ADR	0.09%	500,000	$12M	held	—	5 q
unresolvedWheels Up Experience Inc	0.09%	2,412,500	$11M	trimmed−4%	−0.03 pp	2 q
BFAMBright Horizons Family Solutions Inc.	0.05%	51,086	$6M	trimmed−83%	−0.26 pp	8 q
ALHCAlignment Healthcare, Inc.	0.03%	271,118	$4M	trimmed−78%	−0.12 pp	4 q
SOFISoFi Technologies, Inc.	—	−3,597,334	—	exited	−0.43 pp	—
MNDYmonday.com Ltd.	—	−150,000	—	exited	−0.37 pp	—
DNUTKrispy Kreme, Inc.	—	−2,421,191	—	exited	−0.26 pp	—
ACVAACV Auctions Inc.	—	−1,688,020	—	exited	−0.23 pp	—
BILLBILL Holdings, Inc.	—	−76,388	—	exited	−0.15 pp	—
LFSTLifeStance Health Group, Inc.	—	−1,325,747	—	exited	−0.15 pp	—
IDXXIdexx Laboratories Inc	—	−25,402	—	exited	−0.12 pp	—
GFLGFL Environmental Inc. Subordinate Voting Shares	—	−264,194	—	exited	−0.07 pp	—
LTCHLatch Inc	—	−583,764	—	exited	−0.05 pp	—
TTCToro Company (The)	—	−1,247	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 5 unresolved
Accession: 0001798849-22-000023
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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