Stockbridge Partners was launched in 2007 and invests in marketable securities. It has a long-term focus and invests primarily in growth stocks with sustainable earnings. Headquartered in Boston, Massachusetts, Stockbridge Partners, LLC is a subsidiary of Berkshire Partners LLC. The fund is managed by Robert Small who joined Berkshire Partners in 1992 and has been at the helm since 2007. We like to take a look at Stockbridge Partners’ 13F holdings because of their long-term focus and concentrated portfolio. These funds are easier to monkey and they usually perform better than other funds with short investment horizons.
Stockbridge Partners’ total 13F portfolio was worth $1.40 billion as at the end of last year, an increase of 18.6% over the third quarter.
In its latest 13F filing, Stockbridge Partners has disclosed holding 1.05 million shares, worth $168.30 million, in Transdigm Group Inc (NYSE:TDG), which represent the largest stake in terms of value. Stephen Mandel’s Lone Pine Capital is also a significant shareholder of Transdigm, owning 2.77 million shares, worth $445.81 million.
The fund’s second largest position is LPL Financial Holdings (NASDAQ:LPLA). The investment advisory firm recorded a fifth consecutive year of growth, with earnings per share of $2.44 for 2013. James Noonan, Anand Parekh, and Chao Ku are among LPLA shareholders.
On the third spot is Mattress Firm Holding Corp (NASDAQ:MFRM), the specialty retailer of mattresses and other related accessories. In its latest 13F, Stockbridge disclosed owning 2.75 million shares of this Texas based company. The value of the fund’s stake amounts to $118.28 million.
In MSCI Inc. (NYSE:MSCI) the fund holds 2.55 million shares, worth $111.44 million. The stake has been reduced from 2.84 million shares held in the third quarter. The company provides investment decision support tools. Recently the New York based company announced to expand its presence in Latin America and opened its new office in Santiago, Chile.
And the fifth largest position in Stockbridge’s equity portfolio is represented by Visa Inc (NYSE:V), a global provider of payments technology. The fund’s stake in the company remained flat over the quarter, at approximately 483,600 shares. The value of the position, however, increased to $107.68 million at the end of last year, from $92.96 million reported earlier.