Durable Capital

Q3 2023 13F · by Henry Ellenbogen, CIO

As of: Sep 30, 2023
Filed: Nov 14, 2023
US stock: $10.9B · prev $11.4B
Positions: 52 · prev 50
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

+7.4 pp in · −6.9 pp out

New 5 +2.33 pp
Added 15 +5.02 pp
Trimmed 20 −2.56 pp
Exited 3 −4.30 pp

The book

Focused · behaves like 28 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 30% a year, about 3.4 years per position

Low
Moderate
High

Top 5 positions30% of US stock

ROP Roper Technologies, Inc. held held7.5%
INTU Intuit Inc trimmed+0.81 pp trimmed+0.816.6%
DUOL Duolingo, Inc. Class A trimmed+0.62 pp trimmed+0.625.8%
RBC RBC Bearings Incorporated added+0.72 pp added+0.724.9%
JBHT JB Hunt Transport Services Inc added+0.53 pp added+0.534.8%

Positions52 in this filing · 3 exited


ROPRoper Technologies, Inc.	7.45%	1,684,142	$816M	held	—	15 q
INTUIntuit Inc	6.60%	1,413,916	$722M	trimmed−2%	+0.81 pp	15 q
DUOLDuolingo, Inc. Class A	5.83%	3,844,297	$638M	trimmed−8%	+0.62 pp	9 q
RBCRBC Bearings Incorporated	4.92%	2,297,979	$538M	added+4%	+0.72 pp	15 q
JBHTJB Hunt Transport Services Inc	4.76%	2,762,286	$521M	added+4%	+0.53 pp	14 q
HUBSHubspot, Inc.	4.70%	1,045,032	$515M	added+9%	+0.20 pp	7 q
MOHMolina Healthcare, Inc.	4.69%	1,566,039	$513M	added+10%	+0.94 pp	7 q
WSTWest Pharmaceutical Services, Inc.	4.12%	1,202,069	$451M	trimmed−6%	−0.17 pp	15 q
BKNGBooking Holdings Inc.	4.09%	145,114	$448M	trimmed−3%	+0.56 pp	4 q
FSVFirstService Corporation	4.00%	3,008,868	$438M	trimmed−10%	−0.51 pp	15 q
BFAMBright Horizons Family Solutions Inc.	3.30%	4,439,516	$362M	added+64%	+1.11 pp	3 q
TEAMAtlassian Corporation Class A	3.16%	1,715,229	$346M	trimmed−4%	+0.54 pp	4 q
MSCIMSCI, Inc.	2.74%	583,438	$299M	trimmed−14%	−0.05 pp	15 q
WCNWaste Connections, Inc.	2.71%	2,205,428	$296M	held	—	15 q
DSGXDescartes Systems Group Inc	2.37%	3,530,806	$259M	held	—	15 q
CHEChemed Corporation	2.29%	483,068	$251M	added+6%	+0.12 pp	4 q
TOSTToast, Inc.	2.18%	12,758,570	$239M	added+7%	−0.18 pp	9 q
TDYTeledyne Technologies Incorporated	2.13%	571,443	$233M	held	—	7 q
FOURShift4 Payments, Inc.	2.11%	4,167,388	$231M	added+13%	−0.09 pp	14 q
PRVAPrivia Health Group, Inc.	1.91%	9,090,909	$209M	held	—	2 q
VEEVVeeva Systems Inc.	1.65%	889,698	$181M	new	+1.65 pp	new
TTCToro Company (The)	1.52%	2,004,787	$167M	trimmed−7%	−0.40 pp	7 q
YOUClear Secure, Inc.	1.45%	8,337,077	$159M	trimmed−27%	−0.88 pp	10 q
SGRYSurgery Partners, Inc.	1.44%	5,373,188	$157M	held	—	8 q
RHRh	1.27%	525,164	$139M	added+7%	−0.15 pp	14 q
ITGartner, Inc.	1.25%	396,868	$136M	added×2.4	+0.73 pp	2 q
WRBYWarby Parker Inc.	1.16%	9,641,933	$127M	trimmed−4%	+0.12 pp	9 q
IRIngersoll Rand Inc.	1.13%	1,933,832	$123M	held	—	15 q
CWANClearwater Analytics Hds-a	1.12%	6,352,149	$123M	trimmed−17%	+0.05 pp	9 q
CPRTCopart Inc	1.11%	2,821,956	$122M	held	—	3 q
SSNCSS&C Technologies Inc	1.07%	2,222,591	$117M	added+11%	0.00 pp	2 q
XPXP Inc. Class A	1.07%	5,075,082	$117M	trimmed−25%	−0.32 pp	16 q
ROLRollins, Inc.	1.05%	3,066,588	$114M	added×14.6	+0.97 pp	7 q
ACHCAcadia Healthcare Company, Inc.	0.97%	1,511,067	$106M	added+9%	0.00 pp	6 q
unresolvedAgilon Health Inc	0.94%	5,813,508	$103M	trimmed−4%	+0.02 pp	10 q
CIGIColliers International Group Inc. Subordinate Voting Shares	0.91%	1,040,676	$99M	added+12%	+0.11 pp	3 q
HUMHumana Inc.	0.69%	155,393	$76M	held	—	4 q
DDOGDatadog, Inc. Class A	0.57%	684,641	$62M	trimmed−54%	−0.70 pp	9 q
GSHDGoosehead Insurance, Inc. Class A	0.52%	767,260	$57M	trimmed−15%	+0.02 pp	15 q
IWMiShares Russell 2000 ETF	0.45%	276,718	$49M	held	—	4 q
PPLIPeople Incorporated	0.41%	887,438	$45M	trimmed−11%	−0.14 pp	10 q
ENOVEnovis Corporation	0.40%	822,883	$43M	trimmed−46%	−0.46 pp	6 q
KWRQuaker Houghton	0.34%	234,807	$38M	trimmed−74%	−1.21 pp	15 q
ODFLOld Dominion Freight Line	0.30%	79,469	$33M	held	—	2 q
SAIASaia, Inc.	0.27%	75,091	$30M	new	+0.27 pp	new
PCTYPaylocity Holding Corporation	0.25%	152,342	$28M	new	+0.25 pp	new
BSYBentley Systems, Incorporated Class B	0.21%	451,504	$23M	trimmed−66%	−0.42 pp	7 q
ENTGEntegris Inc	0.13%	147,657	$14M	held	—	2 q
AURAurora Innovation, Inc. Class A	0.12%	5,748,967	$14M	new	+0.12 pp	new
LFSTLifeStance Health Group, Inc.	0.09%	1,444,207	$10M	added+53%	+0.01 pp	2 q
FTCHQFarfetch Limited A	0.04%	2,323,620	$5M	new	+0.04 pp	new
CAVACAVA Group, Inc.	0.03%	117,442	$4M	trimmed−41%	−0.04 pp	2 q
unresolvedAbcam Plc ADR	—	−14,372,447	—	exited	−3.09 pp	—
EFXEquifax, Incorporated	—	−309,848	—	exited	−0.64 pp	—
ONONOn Holding AG	—	−1,958,198	—	exited	−0.57 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001798849-23-000010
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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