Durable Capital Partners
Durable Capital Partners, led by Henry Ellenbogen, is a renowned investment management firm known for its focus on long-term investments in durable companies. Ellenbogen, a respected figure in the investment community, previously managed the T. Rowe Price New Horizons Fund, where he built a reputation for identifying and investing in high-growth potential companies. Durable Capital Partners emphasizes a deep understanding of business models and market opportunities, aiming to invest in companies with the potential for sustainable growth.
AUM figures shown are calculated by summing the reported market value of all positions in SEC 13F-HR filings — not the fund's actual assets under management.
- Excludes cash, bonds, private equity, short positions, and foreign-listed stocks not required to be reported.
- For PUT and CALL options, the reported Value is the notional value of the underlying shares — not the option premium paid. This significantly overstates the actual capital at risk.
- Actual fund AUM is typically higher and includes strategies, instruments, and positions that never appear in a 13F.
- 13F filings cover institutional managers with ≥$100M in 13F securities. Positions reflect end-of-quarter holdings, disclosed up to 45 days after the period ends.
Data sourced from SEC EDGAR. This tracker is for informational purposes only and does not constitute investment advice.
Portfolio Holdings
Top 30 positions
| Ticker | Issuer | Notional | Port % | @ Filing | Now (EOD) | Since Filing | Allocation |
|---|---|---|---|---|---|---|---|
| RBC | $1.24B | 12.72% | $543.12 | $596.30 | +9.8% | 12.7% | |
| DASH | $642.0M | 6.61% | $150.15 | $194.97 | +29.9% | 6.6% | |
| MELI | $606.6M | 6.24% | $1729.02 | $1817.29 | +5.1% | 6.2% | |
| APG | $598.7M | 6.16% | $40.52 | $41.19 | +1.6% | 6.2% | |
| Q | $587.1M | 6.04% | $115.32 | $139.63 | +21.1% | 6.0% | |
| XPO | $571.2M | 5.88% | $194.55 | $202.50 | +4.1% | 5.9% | |
| FERG | $511.3M | 5.26% | $232.37 | $221.93 | -4.5% | 5.3% | |
| MDLN | $323.3M | 3.33% | $44.50 | $42.83 | -3.8% | 3.3% | |
| CVNA | $313.0M | 3.22% | $62.88 | $68.57 | +9.1% | 3.2% | |
| CLH | $301.4M | 3.10% | $286.73 | $297.40 | +3.7% | 3.1% | |
| ULS | $282.1M | 2.90% | $85.59 | $90.07 | +5.2% | 2.9% | |
| RKT | $275.1M | 2.83% | $14.25 | $14.49 | +1.7% | 2.8% | |
| FOUR | $269.6M | 2.78% | $43.73 | $51.58 | +17.9% | 2.8% | |
| VSEC | $259.0M | 2.67% | $184.32 | $223.01 | +21.0% | 2.7% | |
| AFRM | $258.9M | 2.66% | $45.82 | $83.73 | +82.7% | 2.7% | |
| IWM | $254.8M | 2.62% | $247.41 | $296.12 | +19.7% | 2.6% | |
| PRVA | $248.7M | 2.56% | $20.57 | $26.97 | +31.1% | 2.6% | |
| CPNG | $242.9M | 2.50% | $18.88 | $18.39 | -2.6% | 2.5% | |
| OPCH | $242.0M | 2.49% | $26.92 | $21.48 | -20.2% | 2.5% | |
| TECH | $232.9M | 2.40% | $52.16 | $70.56 | +35.3% | 2.4% | |
| WIX | $183.9M | 1.89% | $90.07 | $51.10 | -43.3% | 1.9% | |
| CRH | $155.3M | 1.60% | $104.74 | $105.93 | +1.1% | 1.6% | |
| YOU | $143.8M | 1.48% | $48.27 | $55.42 | +14.8% | 1.5% | |
| WRBY | $134.8M | 1.39% | $21.07 | $28.17 | +33.7% | 1.4% | |
| SHOP | $115.3M | 1.19% | $118.62 | $123.00 | +3.7% | 1.2% | |
| ENTG | $113.9M | 1.17% | $117.16 | $132.74 | +13.3% | 1.2% | |
| FN | $112.9M | 1.16% | $521.52 | $463.43 | -11.1% | 1.2% | |
| AYI | $99.7M | 1.03% | $280.02 | $337.21 | +20.4% | 1.0% | |
| CIGI | $88.6M | 0.91% | $106.72 | $100.20 | -6.1% | 0.9% | |
| AIT | $78.7M | 0.81% | $264.89 | $315.05 | +18.9% | 0.8% |
Quarter-on-Quarter Activity
Q1 2026 vs. Q4 2025
New Positions (8)
| Ticker | Issuer | Notional | Since Filing |
|---|---|---|---|
| WIX | $183.9M | -43.3% | |
| CRH | $155.3M | +1.1% | |
| ENTG | $113.9M | +13.3% | |
| FN | $112.9M | -11.1% | |
| AIT | $78.7M | +18.9% | |
| FLS | $70.0M | ||
| ESAB | $3.3M | ||
| XMTR | $2.3M |
Exited Positions (8)
| Ticker | Issuer | Notional |
|---|---|---|
| VEEV | $212.5M | |
| DSGX | $149.9M | |
| SRAD | $141.6M | |
| TWLO | $136.8M | |
| APP | $110.1M | |
| BKNG | $97.9M | |
| CBZ | $82.3M | |
| TOST | $81.6M |
Increased (8)
| Ticker | Issuer | Notional | Shares Δ | Since Filing |
|---|---|---|---|---|
| IWM | $231.0M | +961.8% | +19.7% | |
| TECH | $110.0M | +113.3% | +35.3% | |
| Q | $358.4M | +81.7% | +21.1% | |
| VSEC | $107.1M | +59.8% | +21.0% | |
| AFRM | $-15.1M | +53.5% | +82.7% | |
| FERG | $163.7M | +40.4% | -4.5% | |
| ULS | $80.0M | +28.4% | +5.2% | |
| CLH | $105.6M | +25.9% | +3.7% |
Trimmed (8)
| Ticker | Issuer | Notional | Shares Δ | Since Filing |
|---|---|---|---|---|
| AUR | $-19.9M | -78.0% | ||
| CIGI | $-406.8M | -75.4% | -6.1% | |
| AYI | $-193.9M | -56.4% | +20.4% | |
| SHOP | $-213.6M | -52.4% | +3.7% | |
| CPNG | $-333.9M | -47.4% | -2.6% | |
| RBLX | $-57.6M | -44.4% | ||
| XPO | $34.5M | -25.7% | +4.1% | |
| YOU | $22.4M | -14.2% | +14.8% |
Quarter Activity
During the quarter, Durable Capital Partners initiated significant new positions in WIX, CRH, and ENTG, with investments totaling $184 million, $155 million, and $114 million respectively. The fund also exited substantial holdings in VEEV, DSGX, and SRAD, which were valued at $212 million, $150 million, and $142 million at the time of sale. Additionally, there was a notable increase in the fund's position in IWM, rising by $962 million, while the largest reductions were seen in AUR and CIGI, decreasing by $78 million and $75 million respectively.
AI Commentary
<p>Durable Capital Partners maintains a concentrated portfolio with significant investments in industrial and technology sectors. The fund's top holdings include RBC Bearings Inc (RBC) with a 12.7% portfolio weight, followed by DoorDash Inc (DASH) and MercadoLibre Inc (MELI), emphasizing a blend of industrial manufacturing and e-commerce. Other notable holdings are API Group Corp (APG) and Qnity Electronics Inc (Q), which further underscore the fund's focus on industrials and technology. This sector concentration suggests a strategic conviction in these areas, likely driven by expectations of robust growth or fundamental value in these industries.</p> <p>The recent quarterly activity indicates a strategic shift in Durable Capital Partners' investment approach. The fund opened new positions in Wix.com Ltd (WIX), CRH Plc (CRH), and Entegris Inc (ENTG), suggesting a growing interest in technology and materials sectors. Conversely, the closure of positions in Veeva Systems Inc (VEEV) and The Descartes Systems Group Inc (DSGX) might signal a reallocation of resources away from certain tech sub-sectors or a response to valuation concerns. Notably, the fund significantly increased its stake in iShares Russell 2000 ETF (IWM) by 962% and in Bio-Techne Corp (TECH) by 113%, indicating a bullish stance on small-cap stocks and biotechnology, respectively. This could reflect optimism about the growth potential or resilience of these sectors amidst current market dynamics.</p>