Durable Capital

Q2 2024 13F · by Henry Ellenbogen, CIO

As of: Jun 30, 2024
Filed: Aug 14, 2024
US stock: $12.2B · prev $12.9B
Positions: 49 · prev 53
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

+14.7 pp in · −14.6 pp out

New 4 +3.07 pp
Added 22 +11.60 pp
Trimmed 22 −11.58 pp
Exited 8 −3.02 pp

The book

Focused · behaves like 29 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 55% a year, about 1.8 years per position

Low
Moderate
High

Top 5 positions29% of US stock

Positions49 in this filing · 8 exited


INTUIntuit Inc	7.64%	1,416,101	$931M	trimmed−1%	+0.46 pp	18 q
ROPRoper Technologies, Inc.	5.87%	1,268,797	$715M	added+6%	+0.68 pp	18 q
RBCRBC Bearings Incorporated	5.30%	2,392,576	$645M	added+2%	+0.39 pp	18 q
DUOLDuolingo, Inc. Class A	5.04%	2,943,622	$614M	trimmed−5%	−0.27 pp	12 q
BFAMBright Horizons Family Solutions Inc.	4.92%	5,450,019	$600M	added+9%	+0.53 pp	6 q
FSVFirstService Corporation	4.42%	3,534,869	$539M	added+16%	+0.52 pp	18 q
BKNGBooking Holdings Inc.	4.24%	130,497	$517M	added+4%	+0.71 pp	7 q
HUBSHubspot, Inc.	3.97%	819,106	$483M	trimmed−25%	−1.33 pp	10 q
CPNGCoupang, Inc.	3.87%	22,527,909	$472M	added×2.4	+2.59 pp	2 q
TOSTToast, Inc.	3.84%	18,174,146	$468M	added+14%	+0.76 pp	12 q
FOURShift4 Payments, Inc.	2.99%	4,968,955	$364M	added+4%	+0.55 pp	17 q
WSTWest Pharmaceutical Services, Inc.	2.81%	1,040,524	$343M	added+1%	−0.35 pp	18 q
DSGXDescartes Systems Group Inc	2.75%	3,455,887	$335M	trimmed−5%	+0.17 pp	18 q
CHEChemed Corporation	2.45%	550,204	$299M	trimmed−4%	−0.39 pp	7 q
CPRTCopart Inc	2.16%	4,857,125	$263M	added+11%	+0.20 pp	6 q
TEAMAtlassian Corporation Class A	2.02%	1,389,703	$246M	trimmed−33%	−1.13 pp	7 q
CIGIColliers International Group Inc. Subordinate Voting Shares	1.96%	2,137,705	$239M	added+6%	+0.05 pp	6 q
SSNCSS&C Technologies Inc	1.91%	3,717,692	$233M	trimmed−22%	−0.45 pp	5 q
RHRh	1.78%	885,048	$216M	added+37%	+0.03 pp	17 q
VEEVVeeva Systems Inc.	1.77%	1,177,095	$215M	added+25%	+0.08 pp	4 q
MNDYmonday.com Ltd.	1.70%	859,813	$207M	new	+1.70 pp	new
MOHMolina Healthcare, Inc.	1.59%	651,327	$194M	trimmed−25%	−1.17 pp	10 q
ODFLOld Dominion Freight Line	1.54%	1,060,816	$187M	added×7.1	+1.28 pp	5 q
SHOPShopify Inc. Class A subordinate voting shares	1.52%	2,794,802	$185M	added×2.5	+0.86 pp	3 q
JBHTJB Hunt Transport Services Inc	1.44%	1,096,496	$175M	trimmed−66%	−3.53 pp	17 q
TTCToro Company (The)	1.44%	1,878,515	$176M	added×2.4	+0.89 pp	10 q
DOCSDoximity, Inc.	1.43%	6,218,067	$174M	added+40%	+0.50 pp	3 q
BIRKBirkenstock Holding plc	1.40%	3,123,640	$170M	trimmed−23%	−0.08 pp	3 q
ROLRollins, Inc.	1.37%	3,415,400	$167M	trimmed−1%	+0.14 pp	10 q
ENTGEntegris Inc	1.34%	1,209,401	$164M	added+66%	+0.55 pp	5 q
PRVAPrivia Health Group, Inc.	1.30%	9,090,909	$158M	held	—	5 q
MSCIMSCI, Inc.	1.25%	316,599	$153M	trimmed−43%	−1.18 pp	18 q
ACHCAcadia Healthcare Company, Inc.	1.23%	2,217,791	$150M	added+59%	+0.37 pp	9 q
PTCPtc, Inc	1.06%	710,316	$129M	trimmed−9%	−0.09 pp	3 q
AVTRAvantor, Inc.	1.05%	6,037,845	$128M	trimmed−29%	−0.63 pp	2 q
DDOGDatadog, Inc. Class A	0.91%	858,880	$111M	trimmed−14%	−0.04 pp	12 q
IRIngersoll Rand Inc.	0.90%	1,201,176	$109M	trimmed−20%	−0.21 pp	18 q
WRBYWarby Parker Inc.	0.90%	6,851,967	$110M	added+65%	+0.46 pp	12 q
CVNACarvana Co.	0.89%	840,131	$108M	new	+0.89 pp	new
GGGGraco Inc	0.77%	1,182,481	$94M	trimmed−19%	−0.29 pp	3 q
WCNWaste Connections, Inc.	0.59%	411,641	$72M	trimmed−48%	−0.46 pp	18 q
SAIASaia, Inc.	0.57%	145,447	$69M	added+6%	−0.05 pp	4 q
SGRYSurgery Partners, Inc.	0.56%	2,881,227	$69M	trimmed−40%	−0.55 pp	11 q
LFSTLifeStance Health Group, Inc.	0.50%	12,395,085	$61M	added+20%	0.00 pp	5 q
AURAurora Innovation, Inc. Class A	0.31%	13,606,038	$38M	trimmed−32%	−0.13 pp	4 q
ALHCAlignment Healthcare, Inc.	0.26%	3,980,949	$31M	new	+0.26 pp	new
YOUClear Secure, Inc.	0.23%	1,510,316	$28M	trimmed−56%	−0.34 pp	13 q
VSECVSE Corp	0.22%	305,860	$27M	new	+0.22 pp	new
GSHDGoosehead Insurance, Inc. Class A	0.02%	38,256	$2M	trimmed−81%	−0.08 pp	18 q
PCTYPaylocity Holding Corporation	—	−717,243	—	exited	−0.96 pp	—
TDYTeledyne Technologies Incorporated	—	−219,630	—	exited	−0.73 pp	—
ITGartner, Inc.	—	−148,882	—	exited	−0.55 pp	—
DASHDoorDash, Inc. Class A	—	−290,644	—	exited	−0.31 pp	—
PPLIPeople Incorporated	—	−601,567	—	exited	−0.25 pp	—
IWMiShares Russell 2000 ETF	—	−66,096	—	exited	−0.11 pp	—
SPYState Street SPDR S&P 500 ETF Trust	—	−14,306	—	exited	−0.06 pp	—
unresolvedAgilon Health Inc	—	−976,133	—	exited	−0.05 pp	—