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 |
Evolent Health
EVH
|
+$55.9M |
| 2 |
West Pharmaceutical
WST
|
+$47M |
| 3 |
Alarm.com
ALRM
|
+$45.3M |
| 4 |
Globant
GLOB
|
+$38.4M |
| 5 |
Analog Devices
ADI
|
+$24.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ZLTQ
ZELTIQ Aesthetics, Inc.
ZLTQ
|
+$70.1M |
| 2 |
Cognex
CGNX
|
+$62.5M |
| 3 |
Stericycle Inc
SRCL
|
+$42.1M |
| 4 |
Veeva Systems
VEEV
|
+$25.1M |
| 5 |
Neogen
NEOG
|
+$24.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.74% |
| 2 | Industrials | 22.29% |
| 3 | Healthcare | 20.34% |
| 4 | Consumer Discretionary | 10.85% |
| 5 | Consumer Staples | 6.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
NATI
1
DELISTED
National Instruments Corp
NATI
| $224M | 4.28% |
5,566,077
-144,991
| -3% | -$5.27M |
2013 Q2
16 quarters
|
|
2
Grand Canyon Education
LOPE
$2.97B
| $194M | 3.72% |
2,479,209
-281,399
| -10% | -$21.5M |
2013 Q2
16 quarters
|
|
3
CoStar Group
CSGP
$12.2B
| $157M | 3% |
5,955,000
-743,900
| -11% | -$18.1M |
2013 Q2
16 quarters
|
|
4
DELISTED
Ultimate Software Group Inc
ULTI
| $153M | 2.92% |
727,149
-16,442
| -2% | -$3.46M |
2013 Q2
16 quarters
|
|
|
ATHN
5
DELISTED
Athenahealth, Inc.
ATHN
| $145M | 2.78% |
1,033,842
-23,300
| -2% | -$2.91M |
2013 Q2
16 quarters
|
|
6
Healthcare Services Group
HCSG
$1.71B
| $139M | 2.65% |
2,961,768
-75,096
| -2% | -$3.47M |
2014 Q1
13 quarters
|
|
7
Chemed
CHE
$7.06B
| $137M | 2.63% |
671,291
-65,773
| -9% | -$13.1M |
2013 Q2
16 quarters
|
|
8
Protolabs
PRLB
$1.62B
| $132M | 2.53% |
1,967,865
-53,777
| -3% | -$3.25M |
2013 Q2
16 quarters
|
|
9
HEICO Corp
HEI
$48.2B
| $116M | 2.23% |
3,166,908
-83,685
| -3% | -$3.08M |
2015 Q1
9 quarters
|
|
10
PRA Group
PRAA
$450M
| $113M | 2.17% |
2,994,231
-81,576
| -3% | -$2.84M |
2013 Q2
16 quarters
|
|
11
Five Below
FIVE
$14B
| $110M | 2.09% |
2,218,288
-56,700
| -2% | -$2.79M |
2013 Q2
16 quarters
|
|
12
RB Global
RBA
$17.4B
| $105M | 2% |
3,640,160
+565,290
| +18% | +$17.5M |
2013 Q2
16 quarters
|
|
|
13
Veeva Systems
VEEV
$49.5B
| $100M | 1.9% |
1,623,293
-435,094
| -21% | -$25.1M |
2015 Q4
6 quarters
|
|
14
Gentex
GNTX
$3.99B
| $88.8M | 1.7% |
4,681,052
-131,924
| -3% | -$2.57M |
2013 Q2
16 quarters
|
|
15
DELISTED
Beacon Roofing Supply, Inc.
BECN
| $83.9M | 1.6% |
1,712,097
-43,597
| -2% | -$2.14M |
2013 Q2
16 quarters
|
|
16
Fastenal
FAST
$62.9B
| $81.9M | 1.57% |
7,526,544
-41,424
| -0.5% | -$465K |
2013 Q2
16 quarters
|
|
17
Verisk Analytics
VRSK
$26.2B
| $80.7M | 1.54% |
956,153
+286,844
| +43% | +$23.2M |
2014 Q2
12 quarters
|
|
|
ELLI
18
DELISTED
Ellie Mae Inc
ELLI
| $79.3M | 1.52% |
721,119
-27,916
| -4% | -$3.02M |
2015 Q4
6 quarters
|
|
19
United Natural Foods
UNFI
$2.84B
| $78.1M | 1.49% |
2,129,232
-276,038
| -11% | -$11.1M |
2013 Q2
16 quarters
|
|
20
DELISTED
IHS Markit Ltd. Common Shares
INFO
| $73.4M | 1.4% |
1,667,493
-13,550
| -0.8% | -$604K |
2016 Q3
3 quarters
|
|
21
Rollins
ROL
$18.5B
| $72.5M | 1.39% |
4,006,715
+1,404
| +0% | +$25.2K |
2013 Q2
16 quarters
|
|
22
Maximus
MMS
$3.46B
| $72.2M | 1.38% |
1,153,253
-45,506
| -4% | -$2.82M |
2013 Q2
16 quarters
|
|
23
DELISTED
Ansys
ANSS
| $71.1M | 1.36% |
584,018
-3,057
| -0.5% | -$360K |
2013 Q2
16 quarters
|
|
24
Pegasystems
PEGA
$5.16B
| $70.8M | 1.35% |
2,425,360
-132,020
| -5% | -$3.48M |
2013 Q2
16 quarters
|
|
25
Bio-Techne
TECH
$11.4B
| $68.8M | 1.32% |
2,342,068
-77,120
| -3% | -$2.11M |
2013 Q2
16 quarters
|
|
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Riverbridge Partners's Q2 2017 Portfolio in Review
As of Q2 2017, Riverbridge Partners held 145 positions worth $5.23B, up 5% from $4.98B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Riverbridge Partners's Q2 2017 filing shows 10 new, 12 increased, 104 reduced and 6 closed positions. Its largest new stake was Evolent Health: 2,322,594 shares worth $58.9M. The largest sale was ZELTIQ Aesthetics, Inc., an estimated $70.1M.
By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 25% a quarter earlier, followed by Industrials and Healthcare.
- Riverbridge Partners's largest Q2 2017 buy was Evolent Health: 2,322,594 shares worth $58.9M.
- Riverbridge Partners added most to Verisk Analytics in Q2 2017, an estimated $23.2M increase.
- Riverbridge Partners's biggest Q2 2017 reduction was Cognex, cutting an estimated $62.5M.
- Riverbridge Partners fully exited ZELTIQ Aesthetics, Inc. in Q2 2017, selling an estimated $70.1M.
- Riverbridge Partners's ten largest holdings make up 29% of its $5.23B portfolio in Q2 2017.
- Riverbridge Partners opened 10 new positions and closed 6 in Q2 2017.
- Riverbridge Partners's portfolio value rose 5% quarter-over-quarter to $5.23B.
Based on Riverbridge Partners's 13F filing for Q2 2017, filed 24 Jul 2017.