Riverbridge Partners LLC Q2 2023 vs. Q3 2023 13F Holdings Comparison

Introduction:

In the world of investment, keeping track of changes in fund holdings is crucial for investors and asset management firms alike. Riverbridge Partners LLC is no exception. In this article, we will analyze the changes in Riverbridge Partners LLC's holdings from Q2 2023 to Q3 2023. We will explore the companies it invested in and divested from, as well as the percentage changes in holdings and their market values.

Globant S.A. - A Slight Decrease in Holdings:

Riverbridge Partners LLC reduced its holdings in Globant S.A., a leading technology services company, by 1.4% from Q2 2023 to Q3 2023. The number of shares held decreased from 1,498,698 to 1,379,812. Despite the decrease in shares, the market value of the holdings increased slightly from $269,346,000 to $272,995,000.

RB Global, Inc. - A Significant Reduction in Holdings:

Riverbridge Partners LLC made a considerable reduction in its holdings in RB Global, Inc., an investment holding company. The fund reduced its holdings by 8.1% from Q2 2023 to Q3 2023. The number of shares dropped from 4,066,248 to 3,585,850. The market value of the holdings also decreased from $243,974,000 to $224,115,000.

Five Below, Inc. - A Substantial Dip in Holdings:

Riverbridge Partners LLC experienced a significant drop in holdings of Five Below, Inc., a popular discount retailer. The fund reduced its holdings by 20.1% from Q2 2023 to Q3 2023. The number of shares held decreased from 1,393,037 to 1,358,843. Consequently, the market value of the holdings also decreased from $273,787,000 to $218,637,000.

Grand Canyon Education, Inc. - A Modest Increase in Holdings:

Riverbridge Partners LLC slightly increased its holdings in Grand Canyon Education, Inc., a for-profit education company. The fund increased its holdings by 3.8% from Q2 2023 to Q3 2023. The number of shares held rose from 1,909,644 to 1,749,937. The market value of the holdings increased from $197,094,000 to $204,532,000.

Microsoft Corporation - A Decrease in Holdings:

Riverbridge Partners LLC decreased its holdings in Microsoft Corporation, a multinational technology corporation, by 11% from Q2 2023 to Q3 2023. The number of shares held decreased from 669,185 to 642,006. The market value of the holdings also decreased from $227,884,000 to $202,713,000.

Workiva, Inc. - A Reduction in Holdings:

Riverbridge Partners LLC made a reduction in its holdings of Workiva, Inc., a cloud-based productivity platform, by 8.9% from Q2 2023 to Q3 2023. The number of shares dropped from 2,094,779 to 1,914,897. The market value of the holdings decreased from $212,955,000 to $194,055,000.

West Pharmaceutical Services - A Significant Decrease in Holdings:

Riverbridge Partners LLC experienced a significant decrease in its holdings of West Pharmaceutical Services, a global supplier of pharmaceutical packaging and delivery systems. The fund reduced its holdings by 16.9% from Q2 2023 to Q3 2023. The number of shares held dropped from 563,503 to 477,540. Consequently, the market value of the holdings decreased from $215,522,000 to $179,177,000.

CoStar Group, Inc. - A Substantial Reduction in Holdings:

Riverbridge Partners LLC made a substantial reduction in its holdings of CoStar Group, Inc., a provider of commercial real estate information and analytics. The fund reduced its holdings by 22.3% from Q2 2023 to Q3 2023. The number of shares dropped from 2,567,355 to 2,308,820. The market value of the holdings also decreased from $228,494,000 to $177,525,000.

HEICO Corporation - A Significant Decrease in Holdings:

Riverbridge Partners LLC experienced a significant decrease in its holdings of HEICO Corporation, a manufacturer of aerospace, defense, and electronic related products. The fund reduced its holdings by 18.8% from Q2 2023 to Q3 2023. The number of shares held dropped from 1,198,169 to 1,063,178. Consequently, the market value of the holdings decreased from $212,004,000 to $172,160,000.

Fastenal Company - A Notable Decrease in Holdings:

Riverbridge Partners LLC made a notable reduction in its holdings of Fastenal Company, a distributor of industrial and construction supplies. The fund reduced its holdings by 19.3% from Q2 2023 to Q3 2023. The number of shares held dropped from 3,339,974 to 2,909,997. The market value of the holdings also decreased from $197,025,000 to $159,002,000.

Paylocity Holding Corporation - A Slight Decrease in Holdings:

Riverbridge Partners LLC slightly reduced its holdings in Paylocity Holding Corporation, a provider of cloud-based payroll and human capital management software solutions. The fund decreased its holdings by 10.7% from Q2 2023 to Q3 2023. The number of shares held dropped from 921,207 to 835,657. Consequently, the market value of the holdings decreased from $169,990,000 to $151,838,000.

Conclusion:

In conclusion, Riverbridge Partners LLC made various changes to its 13F holdings from Q2 2023 to Q3 2023. The fund experienced both increases and decreases in holdings across different companies. While some companies witnessed a slight reduction, others experienced significant decreases. It's important to note that these changes in holdings reflect the investment strategy and outlook of Riverbridge Partners LLC during this period.