We break down the stocks Stockbridge bought, sold, and held in Q1 2024, including their holdings at the end of the quarter. All data sourced from Stockbridge's 13F filed on May 15, 2024.
Who is Stockbridge?
Stockbridge is the public equity investment arm of Berkshire Partners, a Boston-based private equity firm established in 1984. The firm focuses on building long-term concentrated positions in high-quality growth companies with sustainable competitive advantages. Stockbridge leverages Berkshire's extensive private equity experience to identify public companies with exceptional management teams and compelling business models.
Berkshirepartners.com/stockbridge
Wikipedia
Interview with Stockbridge's Rob Small on Transdigm
Portfolio Changes in Q1 2024
New positions
Stockbridge did not initiate any new positions during Q1 2024.
Bought
Stockbridge significantly increased their position in Waste Connections (WCN) by adding over 1.3 million shares, more than doubling their stake to $401.5 million. The firm also added to existing positions in Lamb Weston Holdings (LW) with over 600,000 additional shares, New York Times (NYT) with approximately 428,000 shares, Guidewire Software (GWRE) with about 282,000 shares, Amazon (AMZN) with nearly 200,000 shares, and Microsoft (MSFT) with around 75,000 shares.
Sold
Stockbridge completely liquidated their position in Advanced Drainage Systems (WMS), selling all 762,895 shares worth $107.3 million. The firm also made significant reductions to existing holdings, trimming over 1.1 million shares of Uber (UBER), reducing their Vulcan Materials (VMC) position by 335,584 shares, cutting TransDigm (TDG) by 253,890 shares, and making smaller trims to Thermo Fisher (TMO) and Charter Communications (CHTR).
Holdings at the end of Q1 2024
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| TDG | TransDigm | 19.5% | Trimmed (-25%) | $948.39M |
| AMZN | Amazon | 9.7% | Added (+8%) | $471.64M |
| VMC | Vulcan Materials | 9.7% | Trimmed (-16%) | $469.9M |
| MSFT | Microsoft | 8.8% | Added (+8%) | $425.18M |
| TMO | Thermo Fisher | 8.4% | Trimmed (-3%) | $409.42M |
| GWRE | Guidewire Software | 8.3% | Added (+9%) | $403.71M |
| WCN | Waste Connections | 8.3% | Added (+135%) | $401.47M |
| LW | Lamb Weston Holdings | 8.3% | Added (+19%) | $401.4M |
| NYT | New York Times | 7.2% | Added (+6%) | $349.05M |
| LBRDK | Liberty Broadband | 4.5% | $216.78M | |
| CHTR | Charter Communications | 3.3% | Trimmed (-2%) | $160.92M |
| UBER | Uber | 2.5% | Trimmed (-42%) | $123.56M |
| URI | United Rentals | 1.5% | $72.53M | |
| WMS | Advanced Drainage Systems | 0.0% | Exited | $0 |
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