Henry Ellenbogen portfolio & holdings
Durable Capital Partners
Historical clone performance and limitations
Henry Ellenbogen (Durable Capital Partners) discloses a $10.28B portfolio across 36 US-listed positions in the latest 13F filing (2026Q2, filed Aug 14, 2026). The largest holding is RBC at 10.7% of the book.
Q2 2026 reported changes: 4 new positions, 8 additions, 11 reductions, and 5 exits.
Holdings as of Jun 30, 2026; filed Aug 14, 2026. 13F filings do not reveal trade dates, prices, or reasons.
Open this manager's SEC filings ↗Latticework Follow
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Holdings (36) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | RBC | 10.7% | $1.10B | |||
| 2 | DASH | 7.5% | $767M | |||
| 3 | Q | 7.2% | $744M | |||
| 4 | FERG | 6.9% | $707M | |||
| 5 | MELI | 5.1% | $524M | |||
| 6 | APG | 5.0% | $514M | |||
| 7 | XPO | 4.8% | $498M | |||
| 8 | CVNA | 4.3% | $442M | |||
| 9 | MAIR | 3.9% | $398M | |||
| 10 | TWLO | 3.7% | $381M | |||
| 11 | AFRM | 3.5% | $361M | |||
| 12 | G3323L100 | 3.3% | $339M | |||
| 13 | PRVA | 2.9% | $299M | |||
| 14 | ULS | 2.9% | $299M | |||
| 15 | CRH | 2.8% | $285M | |||
| 16 | SHOP | 2.6% | $267M | |||
| 17 | CLH | 2.6% | $267M | |||
| 18 | RKT | 2.5% | $260M | |||
| 19 | VSEC | 2.2% | $224M | |||
| 20 | FLS | 2.1% | $216M | |||
| 21 | FOUR | 2.1% | $215M | |||
| 22 | WRBY | 1.9% | $194M | |||
| 23 | OPCH | 1.3% | $129M | |||
| 24 | MDLN | 1.0% | $104M | |||
| 25 | XMTR | 1.0% | $98M | |||
| 26 | WIX | 0.9% | $93M | |||
| 27 | GSHD | 0.9% | $89M | |||
| 28 | AUR | 0.7% | $74M | |||
| 29 | CPNG | 0.7% | $67M | |||
| 30 | ANDG | 0.6% | $63M | |||
| 31 | AIT | 0.5% | $55M | |||
| 32 | ENTG | 0.5% | $53M | |||
| 33 | ROL | 0.5% | $49M | |||
| 34 | AGL | 0.5% | $47M | |||
| 35 | TECH | 0.3% | $35M | |||
| 36 | AYI | 0.3% | $26M |
- 1RBCport10.7%val$1.10BRbc Bearings Incthis Q -25%·26q
- 2DASHport7.5%val$767MDoordash Inc - Athis Q hold·17q
- 3Qport7.2%val$744MQnity Electronics Incthis Q hold·3q
- 4FERGport6.9%val$707MFerguson Enterprises Incthis Q +36%·5q
- 5MELIport5.1%val$524MMercadolibre Incthis Q hold·6q
- 6APGport5.0%val$514MApi Group Corpthis Q hold·8q
- 7XPOport4.8%val$498MXpo Incthis Q hold·7q
- 8CVNAport4.3%val$442MCarvana COthis Q +35%·9q
- 9MAIRport3.9%val$398MMadison Air Solutions Corp-athis Q New·—1q
- 10TWLOport3.7%val$381MTwilio Inc - Athis Q New·10q
- 11AFRMport3.5%val$361MAffirm Holdings Incthis Q -22%·13q
- 12G3323L100port3.3%val$339MFabrinetthis Q +179%·2q
- 13PRVAport2.9%val$299MPrivia Health Group Incthis Q hold·13q
- 14ULSport2.9%val$299MUL Solutions Inc - Class Athis Q hold·3q
- 15CRHport2.8%val$285MCrh Plcthis Q +80%·2q
- 16SHOPport2.6%val$267MShopify Inc - Class Athis Q +140%·21q
- 17CLHport2.6%val$267MClean Harbors Incthis Q hold·4q
- 18RKTport2.5%val$260MRocket Cos Inc-class Athis Q hold·4q
- 19VSECport2.2%val$224MVse Corpthis Q -30%·9q
- 20FLSport2.1%val$216MFlowserve Corpthis Q +206%·2q
- 21FOURport2.1%val$215MShift4 Payments Inc-class Athis Q -28%·25q
- 22WRBYport1.9%val$194MWarby Parker Inc-class Athis Q hold·20q
- 23OPCHport1.3%val$129MOption Care Health Incthis Q -31%·7q
- 24MDLNport1.0%val$104MMedline Inc-cl Athis Q -64%·3q
- 25XMTRport1.0%val$98MXometry Inc-athis Q +1732%·10q
- 26WIXport0.9%val$93MWix Com Ltdthis Q hold·13q
- 27GSHDport0.9%val$89MGoosehead Insurance Inc -Athis Q hold·23q
- 28AURport0.7%val$74MAurora Innovation Incthis Q +633%·12q
- 29CPNGport0.7%val$67MCoupang Incthis Q -70%·19q
- 30ANDGport0.6%val$63MAndersen Group Inc - Athis Q hold·3q
- 31AITport0.5%val$55MApplied Industrial Tech Incthis Q -45%·2q
- 32ENTGport0.5%val$53MEntegris Incthis Q -70%·12q
- 33ROLport0.5%val$49MRollins Incthis Q New·13q
- 34AGLport0.5%val$47MAgilon Health Incthis Q New·—1q
- 35TECHport0.3%val$35MBio-techne Corpthis Q -89%·4q
- 36AYIport0.3%val$26MAcuity Incthis Q -81%·8q
2026Q2 moves, by size (28)(expand ↓)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| RBC | Rbc Bearings Inc | TRIM | 10.7% | -25% | $1.10B |
| FERG | Ferguson Enterprises Inc | ADD | 6.9% | +36% | $707M |
| CVNA | Carvana CO | ADD | 4.3% | +35% | $442M |
| MAIR | Madison Air Solutions Corp-a | NEW | 3.9% | +100% | $398M |
| TWLO | Twilio Inc - A | NEW | 3.7% | +100% | $381M |
| AFRM | Affirm Holdings Inc | TRIM | 3.5% | -22% | $361M |
| MDLN | Medline Inc-cl A | TRIM | 1.0% | -64% | $104M |
| G3323L100 | Fabrinet | ADD | 3.3% | +179% | $339M |
| FOUR | Shift4 Payments Inc-class A | TRIM | 2.1% | -28% | $215M |
| CRH | Crh Plc | ADD | 2.8% | +80% | $285M |
| VSEC | Vse Corp | TRIM | 2.2% | -30% | $224M |
| IWM | Ishares Russell 2000 Etf | EXIT | 2.6% | -100% | $0 |
| SHOP | Shopify Inc - Class A | ADD | 2.6% | +140% | $267M |
| CPNG | Coupang Inc | TRIM | 0.7% | -70% | $67M |
| OPCH | Option Care Health Inc | TRIM | 1.3% | -31% | $129M |
| TECH | Bio-techne Corp | TRIM | 0.3% | -89% | $35M |
| FLS | Flowserve Corp | ADD | 2.1% | +206% | $216M |
| YOU | Clear Secure Inc -class A | EXIT | 1.5% | -100% | $0 |
| ENTG | Entegris Inc | TRIM | 0.5% | -70% | $53M |
| AYI | Acuity Inc | TRIM | 0.3% | -81% | $26M |
| XMTR | Xometry Inc-a | ADD | 1.0% | +1732% | $98M |
| CIGI | Colliers Intl Gr-subord Vot | EXIT | 0.9% | -100% | $0 |
| AIT | Applied Industrial Tech Inc | TRIM | 0.5% | -45% | $55M |
| AUR | Aurora Innovation Inc | ADD | 0.7% | +633% | $74M |
| ROL | Rollins Inc | NEW | 0.5% | +100% | $49M |
| AGL | Agilon Health Inc | NEW | 0.5% | +100% | $47M |
| RBLX | Roblox Corp -class A | EXIT | 0.4% | -100% | $0 |
| ESAB | Esab Corp | EXIT | <0.1% | -100% | $0 |
- TRIMRBC10.7%Rbc Bearings IncΔ -25%·$1.10B
- ADDFERG6.9%Ferguson Enterprises IncΔ +36%·$707M
- ADDCVNA4.3%Carvana COΔ +35%·$442M
- NEWMAIR3.9%Madison Air Solutions Corp-aΔ +100%·$398M
- NEWTWLO3.7%Twilio Inc - AΔ +100%·$381M
- TRIMAFRM3.5%Affirm Holdings IncΔ -22%·$361M
- TRIMMDLN1.0%Medline Inc-cl AΔ -64%·$104M
- ADDG3323L1003.3%FabrinetΔ +179%·$339M
- TRIMFOUR2.1%Shift4 Payments Inc-class AΔ -28%·$215M
- ADDCRH2.8%Crh PlcΔ +80%·$285M
- TRIMVSEC2.2%Vse CorpΔ -30%·$224M
- EXITIWM2.6%Ishares Russell 2000 EtfΔ -100%·$0
- ADDSHOP2.6%Shopify Inc - Class AΔ +140%·$267M
- TRIMCPNG0.7%Coupang IncΔ -70%·$67M
- TRIMOPCH1.3%Option Care Health IncΔ -31%·$129M
- TRIMTECH0.3%Bio-techne CorpΔ -89%·$35M
- ADDFLS2.1%Flowserve CorpΔ +206%·$216M
- EXITYOU1.5%Clear Secure Inc -class AΔ -100%·$0
- TRIMENTG0.5%Entegris IncΔ -70%·$53M
- TRIMAYI0.3%Acuity IncΔ -81%·$26M
- ADDXMTR1.0%Xometry Inc-aΔ +1732%·$98M
- EXITCIGI0.9%Colliers Intl Gr-subord VotΔ -100%·$0
- TRIMAIT0.5%Applied Industrial Tech IncΔ -45%·$55M
- ADDAUR0.7%Aurora Innovation IncΔ +633%·$74M
- NEWROL0.5%Rollins IncΔ +100%·$49M
- NEWAGL0.5%Agilon Health IncΔ +100%·$47M
- EXITRBLX0.4%Roblox Corp -class AΔ -100%·$0
- EXITESAB<0.1%Esab CorpΔ -100%·$0
About Henry Ellenbogen
Henry Ellenbogen ran T. Rowe Price's New Horizons Fund from 2010 to 2019, compiling a strong record in growth-oriented small- and mid-cap investing before leaving to found Durable Capital Partners in 2020. His style is concentrated growth — the current 13F spans 37 positions and roughly $9.7B in disclosed long equity, with the top five names (led by RBC, DoorDash, MercadoLibre, APi Group, and Quanta Services) accounting for about 38% of the book. The defining characteristic is a long-duration orientation: Ellenbogen looks for durable compounders across software, fintech, and infrastructure services, often initiating in private rounds before companies list. That pre-IPO and late-stage private activity is the most important gap between the 13F and reality — positions can be established, sized, or partly exited well before public disclosure captures them. The clone backtest's roughly -13% annualized excess return versus SPY over six-plus years reflects both the disclosure lag and the fact that the private book isn't visible in filings at all.
2026Q2 brief
Henry Ellenbogen's $10.3B Durable Capital portfolio saw aggressive rotation this quarter, with two standout new positions dominating the narrative: MAIR (3.9% of portfolio) and TWLO (3.7%), signaling fresh conviction in a mid-cap airline and cloud communications name. Simultaneously, Ellenbogen dramatically scaled existing bets—FLS surged 206% in share count to 2.1%, FABRINET jumped 179% to 3.3%, and SHOP expanded 140% to 2.6%—suggesting a deliberate tilt toward infrastructure and industrial-tech themes. The IWM exit is telling: after running a hedge via the small-cap ETF, Ellenbogen converted that exposure into single-name picks like MAIR and CRH (+80%, 2.8%). On the trim side, RBC was cut ~25% yet remains the top holding at 10.7%, while MDLN was nearly eliminated (-64%). The exits of YOU and RBLX clean up speculative growth. Top-5 concentration sits at 37.4%, slightly tighter than prior quarters. Watch next filing: whether TWLO and MAIR get meaningfully added to—or if they were opportunistic starters that fade.
AI-generated. Not investment advice.
Filing history
Henry Ellenbogen's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.
| Quarter | Positions | Portfolio value |
|---|---|---|
| Q2 2026 — what changed → | 36 | $10.28B |
| Q1 2026 — what changed → | 37 | $9.71B |
| Q4 2025 — what changed → | 40 | $10.57B |
| Q3 2025 — what changed → | 48 | $13.50B |
| Q2 2025 — what changed → | 44 | $13.21B |
| Q1 2025 — what changed → | 51 | $11.19B |
| Q4 2024 holdings | 46 | $12.26B |
| Q3 2024 holdings | 48 | $13.67B |
| Q2 2024 holdings | 49 | $12.18B |
| Q1 2024 holdings | 53 | $12.91B |
| Q4 2023 holdings | 52 | $12.67B |
| Q3 2023 holdings | 52 | $10.94B |
Values as disclosed at each quarter end. Older filings on EDGAR.
Manager evidence
9 material decisions, preserved in sequence.
See what Henry Ellenbogen bought, added, trimmed, or exited across eight quarters—plus disclosure lag, SEC sources, and observed outcomes versus SPY. No guru grade.
Open Henry Ellenbogen's decision evidence →Frequently asked questions
- What stocks does Henry Ellenbogen own?
- As of 2026Q2, Henry Ellenbogen's 13F discloses 36 positions worth $10.28B. The top five holdings: RBC (10.7%), DASH (7.5%), Q (7.2%), FERG (6.9%), MELI (5.1%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Henry Ellenbogen buy this quarter?
- In 2026Q2, the filing shows 4 new positions and 8 additions to existing holdings. The largest positions touched by buying: FERG, CVNA, MAIR, TWLO, CRH.
- How big is Henry Ellenbogen's portfolio?
- $10.28B across 36 positions per the latest 13F (filed Aug 14, 2026). The top five holdings account for 37% of the disclosed book.
Similar portfolios
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001798849). Not investment advice.