Stockbridge Partners 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.
New positions: Stockbridge initiated a new position in Veeva Systems Inc. (VEEV), purchasing 652,840 shares valued at approximately $137.3 million.
Bought: The firm increased its stakes in Guidewire Software, Inc. (GWRE) (+205,382 shares), Vulcan Materials Company (VMC) (+177,918 shares), Waste Connections, Inc. (WCN) (+127,454 shares), and Microsoft Corporation (MSFT) (+87,452 shares).
Sold: Stockbridge completely liquidated its positions in Charter Communications, Inc. (CHTR) (272,520 shares) and Procore Technologies, Inc. (PCOR) (486,794 shares), while significantly reducing stakes in The New York Times Company (NYT) (-1,936,050 shares) and Liberty Broadband Corporation (LBRDK) (-1,921,125 shares), and making smaller reductions in Hilton Worldwide Holdings Inc. (HLT), Amazon.com, Inc. (AMZN), TransDigm Group Incorporated (TDG), Thermo Fisher Scientific Inc. (TMO), and Deere & Company (DE).
Website: berkshirepartners.com/stockbridge
Wikipedia: en.wikipedia.org/wiki/Berkshire_Partners
| Ticker | Company | Weight | Shares | Value | Q4 Return |
|---|---|---|---|---|---|
| TDG | TransDigm Group Incorporated | 18.0% | ▼ Trimmed | $846,904,215 | - 15.98% |
| AMZN | Amazon.com, Inc. | 15.4% | ▼ Trimmed | $727,437,127 | + 16.11% |
| GWRE | Guidewire Software, Inc. | 9.6% | ▲ Added | $451,601,713 | - 0.20% |
| VMC | Vulcan Materials Company | 9.5% | ▲ Added | $449,247,565 | + 14.37% |
| DE | Deere & Company | 7.9% | ▼ Trimmed | $373,833,052 | + 1.30% |
| HLT | Hilton Worldwide Holdings Inc. | 7.8% | ▼ Trimmed | $368,982,445 | + 3.65% |
| MSFT | Microsoft Corporation | 7.6% | ▲ Added | $356,896,695 | + 9.24% |
| WCN | Waste Connections, Inc. | 7.2% | ▲ Added | $337,749,053 | + 2.59% |
| TMO | Thermo Fisher Scientific Inc. | 6.3% | ▼ Trimmed | $294,753,474 | - 17.36% |
| NYT | The New York Times Company | 4.8% | ▼ Trimmed | $228,302,283 | - 35.13% |
| LBRDK | Liberty Broadband Corporation | 3.0% | ▼ Trimmed | $139,555,763 | - 52.33% |
| VEEV | Veeva Systems Inc. | 2.9% | ▲ New | $137,259,610 | |
| CHTR | Charter Communications, Inc. | 0.0% | ▼ Liquidated | $0 | |
| PCOR | Procore Technologies, Inc. | 0.0% | ▼ Liquidated | $0 |
New Positions
Veeva Systems Inc. VEEV
Stockbridge bought 652,840 shares of Veeva Systems Inc. in Q4 2024. Veeva Systems Inc. has demonstrated strong growth over the past 12 months, with revenue increasing 16% year-over-year to $2.75 billion in fiscal 2025 and earnings surging 35.8% to $714 million. The company maintains a premium valuation with a forward P/E ratio of 33.05, reflecting confidence in its cloud-based life sciences software leadership. Analysts project continued momentum with a 5.1% upside to their average price target of $253.44.
- EPS grew 13% annually over the last three years, outpacing the healthcare services sector average of 10.6%.
- Q4 2025 revenue reached $720.9 million (+14% YoY), driven by strong adoption of Veeva Commercial Cloud and Crossix analytics platforms.
- 27 analysts maintain a Buy rating with earnings expected to grow 14.5% annually through 2028.
