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Durable Capital

Q4 2023 13F · by Henry Ellenbogen, CIO

As of
Dec 31, 2023
Filed
Feb 14, 2024
US stock
$12.7B · prev $10.9B
Positions
52 · prev 52
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%

Moves56 since the prior filing

The book

Focused · behaves like 29 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Moderate turnover · 48% a year, about 2.1 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions29% of US stock

  1. INTU Intuit Inc added+0.49 pp added+0.497.1%
  2. DUOL Duolingo, Inc. Class A trimmed−0.11 pp trimmed−0.115.7%
  3. RBC RBC Bearings Incorporated added+0.69 pp added+0.695.6%
  4. ROP Roper Technologies, Inc. trimmed−2.05 pp trimmed−2.055.4%
  5. JBHT JB Hunt Transport Services Inc added+0.48 pp added+0.485.2%

Positions52 in this filing · 8 exited

INTUIntuit Inc7.09%1,436,371$898Madded+2%+0.49 pp16 q
DUOLDuolingo, Inc. Class A5.72%3,195,402$725Mtrimmed−17%−0.11 pp10 q
RBCRBC Bearings Incorporated5.61%2,493,613$710Madded+9%+0.69 pp16 q
ROPRoper Technologies, Inc.5.40%1,255,681$685Mtrimmed−25%−2.05 pp16 q
JBHTJB Hunt Transport Services Inc5.24%3,322,913$664Madded+20%+0.48 pp15 q
HUBSHubspot, Inc.5.16%1,125,113$653Madded+8%+0.46 pp8 q
TEAMAtlassian Corporation Class A4.20%2,239,362$533Madded+31%+1.04 pp5 q
BFAMBright Horizons Family Solutions Inc.3.95%5,312,607$501Madded+20%+0.65 pp4 q
BKNGBooking Holdings Inc.3.80%135,584$481Mtrimmed−7%−0.29 pp5 q
FSVFirstService Corporation3.65%2,855,795$463Mtrimmed−5%−0.35 pp16 q
MOHMolina Healthcare, Inc.3.39%1,188,143$429Mtrimmed−24%−1.30 pp8 q
WSTWest Pharmaceutical Services, Inc.3.17%1,138,730$401Mtrimmed−5%−0.95 pp16 q
FOURShift4 Payments, Inc.2.80%4,768,807$355Madded+14%+0.69 pp15 q
MSCIMSCI, Inc.2.61%583,438$330Mheld—16 q
DSGXDescartes Systems Group Inc2.56%3,853,875$324Madded+9%+0.19 pp16 q
CHEChemed Corporation2.33%505,427$296Madded+5%+0.04 pp5 q
TDYTeledyne Technologies Incorporated2.02%573,355$256Madded0%−0.11 pp8 q
TOSTToast, Inc.1.96%13,582,931$248Madded+6%−0.22 pp10 q
BIRKBirkenstock Holding plc1.79%4,658,655$227Mnew+1.79 ppnew
SSNCSS&C Technologies Inc1.72%3,575,795$219Madded+61%+0.65 pp3 q
PRVAPrivia Health Group, Inc.1.65%9,090,909$209Mheld—3 q
VEEVVeeva Systems Inc.1.42%936,650$180Madded+5%−0.23 pp2 q
RHRh1.39%603,136$176Madded+15%+0.12 pp15 q
SGRYSurgery Partners, Inc.1.38%5,477,303$175Madded+2%−0.06 pp9 q
CIGIColliers International Group Inc. Subordinate Voting Shares1.31%1,315,928$166Madded+26%+0.40 pp4 q
WCNWaste Connections, Inc.1.26%1,067,359$159Mtrimmed−52%−1.45 pp16 q
IRIngersoll Rand Inc.1.18%1,933,832$150Mheld—16 q
IWMiShares Russell 2000 ETF1.15%725,852$146Madded×2.6+0.70 pp5 q
CPRTCopart Inc1.09%2,821,956$138Mheld—4 q
ITGartner, Inc.1.09%305,945$138Mtrimmed−23%−0.16 pp3 q
ROLRollins, Inc.1.08%3,124,289$136Madded+2%+0.03 pp8 q
ACHCAcadia Healthcare Company, Inc.1.06%1,733,303$135Madded+15%+0.09 pp7 q
YOUClear Secure, Inc.1.06%6,513,950$135Mtrimmed−22%−0.39 pp11 q
PTCPtc, Inc0.98%709,319$124Mnew+0.98 ppnew
TTCToro Company (The)0.92%1,218,162$117Mtrimmed−39%−0.60 pp8 q
GGGGraco Inc0.91%1,328,299$115Mnew+0.91 ppnew
WRBYWarby Parker Inc.0.71%6,412,215$90Mtrimmed−34%−0.45 pp10 q
AURAurora Innovation, Inc. Class A0.69%19,970,914$87Madded×3.5+0.57 pp2 q
SPYState Street SPDR S&P 500 ETF Trust0.62%165,052$78Mnew+0.62 ppnew
GWREGuidewire Software, Inc.0.54%630,256$69Mnew+0.54 ppnew
DDOGDatadog, Inc. Class A0.52%542,659$66Mtrimmed−21%−0.05 pp10 q
PPLIPeople Incorporated0.52%1,264,083$66Madded+42%+0.11 pp11 q
SAIASaia, Inc.0.52%149,527$66Madded+99%+0.25 pp2 q
LFSTLifeStance Health Group, Inc.0.47%7,597,519$59Madded×5.3+0.38 pp3 q
DOCSDoximity, Inc.0.44%1,986,603$56Mnew+0.44 ppnew
SHOPShopify Inc. Class A subordinate voting shares0.38%625,143$49Mnew+0.38 ppnew
ENTGEntegris Inc0.37%392,555$47Madded×2.7+0.24 pp3 q
ODFLOld Dominion Freight Line0.34%107,003$43Madded+35%+0.04 pp3 q
DASHDoorDash, Inc. Class A0.25%323,434$32Mnew+0.25 ppnew
unresolvedAgilon Health Inc0.21%2,089,260$26Mtrimmed−64%−0.73 pp11 q
GSHDGoosehead Insurance, Inc. Class A0.18%294,913$22Mtrimmed−62%−0.34 pp16 q
CWANClearwater Analytics Hds-a0.13%796,686$16Mtrimmed−87%−0.99 pp10 q
XPXP Inc. Class A—−5,075,082—exited−1.07 pp—
HUMHumana Inc.—−155,393—exited−0.69 pp—
ENOVEnovis Corporation—−822,883—exited−0.40 pp—
KWRQuaker Houghton—−234,807—exited−0.34 pp—
PCTYPaylocity Holding Corporation—−152,342—exited−0.25 pp—
BSYBentley Systems, Incorporated Class B—−451,504—exited−0.21 pp—
FTCHQFarfetch Limited A—−2,323,620—exited−0.04 pp—
CAVACAVA Group, Inc.—−117,442—exited−0.03 pp—

Source

Form
13F-HR
Reading
0 defects · 1 unresolved
Accession
0001798849-24-000003
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet