Riverbridge Partners Portfolio holdings
Riverbridge Partners is a growth-focused asset manager, founded in 1987, that buys stocks of high-quality companies it expects to grow in value over time. It looks for well-managed businesses with steady unit growth and strong free cash flow that can fund their own expansion, and it expects them to build their earnings power over long periods. Riverbridge also runs income strategies aimed at high, stable income, and in December 2012 it launched the Riverbridge Growth Fund, a mutual fund it advises. The firm is mainly owned by a holding company that gives its investment team and other key staff a stake, with a minority stake held by an affiliate of Lincoln Peak Capital, a private firm that partners with asset managers to help them stay independent. Its clients include institutions, mutual funds, individuals and financial advisers.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
IHS Markit Ltd. Common Shares
INFO
|
+$78.1M |
| 2 |
WAGE
WageWorks, Inc.
WAGE
|
+$26.9M |
| 3 |
NATI
National Instruments Corp
NATI
|
+$20.7M |
| 4 |
United Natural Foods
UNFI
|
+$12.3M |
| 5 |
ATHN
Athenahealth, Inc.
ATHN
|
+$11.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FLTX
Fleetmatics Group PLC
FLTX
|
+$94M |
| 2 |
IHS INC CL-A COM STK
IHS
|
+$73.6M |
| 3 |
CVT
CVENT, INC.
CVT
|
+$28.3M |
| 4 |
LKQ Corp
LKQ
|
+$25.1M |
| 5 |
EXAM
EXAMWORKS GROUP INC COM STK (DE)
EXAM
|
+$23.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.9% |
| 2 | Healthcare | 23.99% |
| 3 | Industrials | 22.24% |
| 4 | Consumer Discretionary | 11.05% |
| 5 | Consumer Staples | 5.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
CPHD
1
DELISTED
Cepheid Inc
CPHD
| $189M | 3.79% |
3,594,910
-84,265
| -2% | -$3.36M |
2013 Q2
13 quarters
|
|
2
DELISTED
Ultimate Software Group Inc
ULTI
| $167M | 3.34% |
816,388
-18,222
| -2% | -$3.85M |
2013 Q2
13 quarters
|
|
3
CoStar Group
CSGP
$12.2B
| $159M | 3.19% |
7,362,700
-156,140
| -2% | -$3.32M |
2013 Q2
13 quarters
|
|
|
NATI
4
DELISTED
National Instruments Corp
NATI
| $158M | 3.17% |
5,577,134
+738,941
| +15% | +$20.7M |
2013 Q2
13 quarters
|
|
5
RB Global
RBA
$17.4B
| $146M | 2.92% |
4,166,852
-72,998
| -2% | -$2.38M |
2013 Q2
13 quarters
|
|
|
ATHN
6
DELISTED
Athenahealth, Inc.
ATHN
| $135M | 2.71% |
1,072,483
+92,178
| +9% | +$11.7M |
2013 Q2
13 quarters
|
|
7
Healthcare Services Group
HCSG
$1.67B
| $133M | 2.66% |
3,360,126
-52,231
| -2% | -$2.05M |
2014 Q1
10 quarters
|
|
8
Gentex
GNTX
$3.99B
| $124M | 2.48% |
7,048,313
-143,732
| -2% | -$2.48M |
2013 Q2
13 quarters
|
|
9
Grand Canyon Education
LOPE
$2.96B
| $122M | 2.44% |
3,015,095
-56,003
| -2% | -$2.33M |
2013 Q2
13 quarters
|
|
10
Protolabs
PRLB
$1.62B
| $114M | 2.28% |
1,902,885
+150,739
| +9% | +$8.67M |
2013 Q2
13 quarters
|
|
11
Chemed
CHE
$6.97B
| $114M | 2.28% |
807,527
-15,116
| -2% | -$2.1M |
2013 Q2
13 quarters
|
|
12
HEICO Corp
HEI
$47.9B
| $102M | 2.03% |
3,581,987
+320,481
| +10% | +$9.05M |
2015 Q1
6 quarters
|
|
|
LLTC
13
DELISTED
Linear Technology Corp
LLTC
| $101M | 2.03% |
1,708,423
-57,498
| -3% | -$3.22M |
2013 Q2
13 quarters
|
|
14
PRA Group
PRAA
$450M
| $101M | 2.01% |
2,910,581
-59,643
| -2% | -$1.76M |
2013 Q2
13 quarters
|
|
|
ABCO
15
DELISTED
Advisory Board Co
ABCO
| $96.5M | 1.93% |
2,157,006
-41,694
| -2% | -$1.71M |
2013 Q2
13 quarters
|
|
16
Veeva Systems
VEEV
$49.5B
| $94.1M | 1.88% |
2,279,422
+297,689
| +15% | +$11.5M |
2015 Q4
3 quarters
|
|
17
Fastenal
FAST
$62.9B
| $83.5M | 1.67% |
7,997,548
-250,104
| -3% | -$2.66M |
2013 Q2
13 quarters
|
|
|
18
DELISTED
IHS Markit Ltd. Common Shares
INFO
| $82.1M | 1.64% |
+2,185,552
| New | +$78.1M |
2016 Q3
0 quarters
|
|
19
Five Below
FIVE
$14B
| $81.5M | 1.63% |
2,022,952
+232,643
| +13% | +$10.8M |
2013 Q2
13 quarters
|
|
20
DELISTED
Beacon Roofing Supply, Inc.
BECN
| $80.9M | 1.62% |
1,922,773
-34,205
| -2% | -$1.56M |
2013 Q2
13 quarters
|
|
21
Dorman Products
DORM
$4.02B
| $77.7M | 1.56% |
1,216,144
-21,484
| -2% | -$1.32M |
2014 Q1
10 quarters
|
|
22
Maximus
MMS
$3.44B
| $76.9M | 1.54% |
1,359,755
-25,879
| -2% | -$1.51M |
2013 Q2
13 quarters
|
|
23
Neogen
NEOG
$2.64B
| $75.3M | 1.51% |
3,590,635
-79,253
| -2% | -$1.7M |
2013 Q2
13 quarters
|
|
24
Bio-Techne
TECH
$11.4B
| $75M | 1.5% |
2,740,196
-54,704
| -2% | -$1.5M |
2013 Q2
13 quarters
|
|
|
25
United Natural Foods
UNFI
$2.85B
| $74.1M | 1.48% |
1,851,683
+267,643
| +17% | +$12.3M |
2013 Q2
13 quarters
|
|
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Riverbridge Partners's Q3 2016 Portfolio in Review
As of Q3 2016, Riverbridge Partners held 139 positions worth $5B, up 3.6% from $4.82B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Riverbridge Partners's Q3 2016 filing shows 6 new, 31 increased, 87 reduced and 8 closed positions. Its largest new stake was IHS Markit Ltd. Common Shares: 2,185,552 shares worth $82.1M. The largest sale was Fleetmatics Group PLC, an estimated $94M.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 26% a quarter earlier, followed by Healthcare and Industrials.
- Riverbridge Partners's largest Q3 2016 buy was IHS Markit Ltd. Common Shares: 2,185,552 shares worth $82.1M.
- Riverbridge Partners added most to National Instruments Corp in Q3 2016, an estimated $20.7M increase.
- Riverbridge Partners's biggest Q3 2016 reduction was Fleetmatics Group PLC, cutting an estimated $94M.
- Riverbridge Partners fully exited IHS INC CL-A COM STK in Q3 2016, selling an estimated $73.6M.
- Riverbridge Partners's ten largest holdings make up 29% of its $5B portfolio in Q3 2016.
- Riverbridge Partners opened 6 new positions and closed 8 in Q3 2016.
- Riverbridge Partners's portfolio value rose 3.6% quarter-over-quarter to $5B.
Based on Riverbridge Partners's 13F filing for Q3 2016, filed 24 Oct 2016.