Watsco Class B (WSO.B)

• Sector: Industrials
• Industry: Hardware & Plumbing & Heating Equipment & Supplies

Market Cap: 19.8B

About: Watsco is the largest heating, ventilation, air conditioning, and refrigeration products distributor in North America. The company primarily operates in the United States (90% of 2023 revenue) with significant exposure in the Sunbelt states. Watsco also has operations in Canada (5% of sales) and Latin America (5% of sales). The company's customer base consists of more than 125,000 contractors that serve the replacement and new construction HVACR markets for residential and light commercial applications.

Employees: 7,425

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

100% more first-time investments, than exits

New positions opened: 2 | Existing positions closed: 1

50% more repeat investments, than reductions

Existing positions increased: 3 | Existing positions reduced: 2

9% more funds holding

Funds holding: 11 [Q4 2023] → 12 (+1) [Q1 2024]

5% more capital invested

Capital invested by funds: $11M [Q4 2023] → $11.5M (+$541K) [Q1 2024]

0.01% more ownership

Funds ownership: 0.47% [Q4 2023] → 0.48% (+0.01%) [Q1 2024]