Stadium Capital Management 13F annual report

Stadium Capital Management is an investment fund managing more than $119 billion ran by Alexander Seaver. There are currently 8 companies in Mr. Seaver’s portfolio. The largest investments include Sleep Number Corp and Builders Firstsource Inc, together worth $55.9 billion.

$119 billion Assets Under Management (AUM)

As of 7th February 2024, Stadium Capital Management’s top holding is 2,023,178 shares of Sleep Number Corp currently worth over $30 billion and making up 25.2% of the portfolio value. Relative to the number of outstanding shares of Sleep Number Corp, Stadium Capital Management owns less than approximately 0.1% of the company. In addition, the fund holds 155,017 shares of Builders Firstsource Inc worth $25.9 billion, whose value grew 20.0% in the past six months. The third-largest holding is Godaddy Inc worth $22.8 billion and the next is PGT Innovations Inc worth $19 billion, with 467,348 shares owned.

Currently, Stadium Capital Management's portfolio is worth at least $119 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Stadium Capital Management

The Stadium Capital Management office and employees reside in New Canaan, Connecticut. According to the last 13-F report filed with the SEC, Alexander Seaver serves as the Managing Director at Stadium Capital Management.

Recent trades

In the most recent 13F filing, Stadium Capital Management revealed that it had opened a new position in DoubleVerify and bought 154,058 shares worth $5.67 billion. This means they effectively own approximately 0.1% of the company. DoubleVerify makes up 16.5% of the fund's Technology sector allocation and has grown its share price by 50.6% in the past year.

The investment fund also strengthened its position in Sleep Number Corp by buying 20,951 additional shares. This makes their stake in Sleep Number Corp total 2,023,178 shares worth $30 billion. Sleep Number Corp dropped 69.9% in the past year.

On the other hand, there are companies that Stadium Capital Management is getting rid of from its portfolio. Stadium Capital Management closed its position in Academy Sports & Outdoors on 14th February 2024. It sold the previously owned 49,846 shares for $2.36 billion. Alexander Seaver also disclosed a decreased stake in Godaddy Inc by 0.5%. This leaves the value of the investment at $22.8 billion and 214,691 shares.

One of the smallest hedge funds

The two most similar investment funds to Stadium Capital Management are Ballew Advisors, Inc and Hauser Brothers Gmbh. They manage $119 billion and $119 billion respectively.

Alexander Seaver investment strategy

Stadium Capital Management’s portfolio is diversified across 4 sectors. Currently, their heaviest sector is Materials — making up 37.7% of the total portfolio value. The fund focuses on investments in the United States as 100.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 13% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $5.66 billion.

The complete list of Stadium Capital Management trades based on 13F SEC filings

These positions were updated on February 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Sleep Number Corp	1.05% 2,023,178	$30,003,730,000	25.18%
Builders Firstsource Inc	53.15% 155,017	$25,878,538,000	21.72%
Godaddy Inc	45.82% 214,691	$22,791,597,000	19.13%
PGT Innovations Inc	0.38% 467,348	$19,021,064,000	15.96%
RH	56.47% 26,184	$7,632,112,000	6.40%
GitLab Inc.	No change 92,383	$5,816,434,000	4.88%
DoubleVerify Holdings, Inc.	Opened 154,058	$5,666,253,000	4.75%
Navient Corp	Opened 126,585	$2,357,013,000	1.98%
Academy Sports & Outdoors, Inc.	Closed 49,846	$2,356,220,000
Korn Ferry	Closed 45,845	$2,174,887,000
Amarin Corp Plc	Closed 1,890,097	$1,738,889,000
TriNet Group Inc	Closed 14,080	$1,640,038,000
No transactions found
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