CIK: 0001656001
Total reported value
$24.3M
Reporting period: 2023-09-30 · Number of holdings: 18
Bishop Rock Capital, L.P. disclosed 18 holdings in its latest 13F filing for the period ending 2023-09-30, with total reported value of $24.3M and a quarterly turnover rate of 0.0%.
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Bishop Rock Capital, L.P.'s disclosed holdings carry a Herfindahl concentration index of 0.075 — mathematically equivalent to about 13 equally-sized positions, close to its 18 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.61), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
New buy ICE
Sold out WCN
Sold out AFG
Add SHW
+140.1% $994.3K
Sold out SRCLEUR
Add SPY
-44.5% -$2.4M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 11.44% | +3.90% | -44.46% | |
| 2 | ICE | Intercontinental Exchange In | Stock-Financials | 7.99% | +7.99% | NEW | |
| 3 | MRSH | Marsh & Mclennan Cos | Stock-Financials | 7.94% | +0.43% | -63.15% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 7.93% | +0.41% | -59.88% | |
| 5 | AJG | Arthur J Gallagher & Co | Stock-Financials | 7.93% | +0.36% | -64.39% | |
| 6 | AKX | Ansys INC | Stock-Other | 7.92% | +0.44% | -58.56% | |
| 7 | V | Visa Inc-class A Shares | Stock-Financials | 7.91% | +0.39% | -61.68% | |
| 8 | CP | Canadian Pacific Kansas City | Stock-Industrials | 7.90% | +0.29% | -60.24% | |
| 9 | SPGI | S&p Global INC | Stock-Financials | 7.89% | +0.42% | -59.14% | |
| 10 | SHW | Sherwin-williams Co/the | Stock-Materials | 7.21% | +6.11% | +140.08% | |
| 11 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 6.93% | +1.14% | -56.18% | |
| 12 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.58% | +0.79% | -53.55% | |
| 13 | MA | Mastercard INC - A | Stock-Financials | 2.56% | -0.10% | -66.24% | |
| 14 | MSCI | Msci INC | Stock-Financials | 1.64% | -0.26% | -72.11% | |
| 15 | TYL | Tyler Technologies INC | Stock-Tech | 1.31% | -0.46% | -71.83% | |
| 16 | AON | Aon plc | Stock-Financials | 1.19% | +0.18% | -55.62% | |
| 17 | ICLR | ICON Public Limited Company | Stock-Healthcare | 0.89% | +0.18% | -55.02% | |
| 18 | IQV | Iqvia Holdings INC | Stock-Healthcare | 0.84% | +0.08% | -55.04% |
Performance for Q3 2026
+6.4%
Performance Last 4 Quarters
+9.6%
Based on 59% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2023-09-30 | 18 | $24.3M | 0 | |
| 2023-06-30 | 23 | $69.0M | 0 | |
| 2023-03-31 | 23 | $64.5M | 0 | |
| 2022-12-31 | 26 | $75.1M | 0 | |
| 2022-09-30 | 27 | $144.3M | 0 | |
| 2022-06-30 | 23 | $528.6M | 0 | |
| 2022-03-31 | 28 | $252.2M | 0 | |
| 2021-12-31 | 34 | $334.7M | 0 | |
| 2021-09-30 | 34 | $309.1M | 0 | |
| 2021-06-30 | 33 | $324.9M | 95 | |
| 2021-03-31 | 29 | $294.4M | 30 | |
| 2020-12-31 | 28 | $315.8M | 26 | |
| 2020-09-30 | 23 | $297.3M | 23 | |
| 2020-06-30 | 23 | $304.5M | 32 | |
| 2020-03-31 | 22 | $268.3M | 43 | |
| 2019-12-31 | 22 | $416.4M | 8 | |
| 2019-09-30 | 22 | $388.1M | 100 | |
| 2019-06-30 | 23 | $310.2M | 100 | |
| 2019-03-31 | 22 | $288.2M | 59 | |
| 2018-12-31 | 22 | $156.4M | 16 | |
| 2018-09-30 | 26 | $149.5M | 13 | |
| 2018-06-30 | 24 | $132.6M | 15 | |
| 2018-03-31 | 22 | $124.4M | 17 | |
| 2017-12-31 | 26 | $114.7M | 34 | |
| 2017-09-30 | 27 | $140.2M | 43 | |
| 2017-06-30 | 26 | $194.8M | 36 | |
| 2017-03-31 | 26 | $211.9M | 39 | |
| 2016-12-31 | 23 | $186.7M | 0 |
Bishop Rock Capital, L.P.'s most significant position changes for 2023-09-30: Sold out: Waste Connections INC (WCN); Sold out: American Financial Group INC (AFG); Sold out: Stericycle INC (SRCLEUR); Sold out: Firstservice CORP (FSV); New buy: Intercontinental Exchange In (ICE).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ICE | Intercontinental Exchange In | +8% | NEW | New buy |
| 2 | SHW | Sherwin-williams Co/the | +6.1% | +140.08% | Add |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | +3.9% | -44.46% | Trim |
| 4 | VOO | Vanguard S&p 500 ETF | +1.1% | -56.18% | Trim |
| 5 | GOOGL | Alphabet Inc-cl A | +0.8% | -53.55% | Trim |
| 6 | AKX | Ansys INC | +0.4% | -58.56% | Trim |
| 7 | MRSH | Marsh & Mclennan Cos | +0.4% | -63.15% | Trim |
| 8 | SPGI | S&p Global INC | +0.4% | -59.14% | Trim |
| 9 | MSFT | Microsoft CORP | +0.4% | -59.88% | Trim |
| 10 | V | Visa Inc-class A Shares | +0.4% | -61.68% | Trim |
| 11 | AJG | Arthur J Gallagher & Co | +0.4% | -64.39% | Trim |
| 12 | CP | Canadian Pacific Kansas City | +0.3% | -60.24% | Trim |
| 13 | AON | Aon plc | +0.2% | -55.62% | Trim |
| 14 | ICLR | ICON Public Limited Company | +0.2% | -55.02% | Trim |
| 15 | IQV | Iqvia Holdings INC | +0.1% | -55.04% | Trim |
| 16 | MA | Mastercard INC - A | -0.1% | -66.24% | Trim |
| 17 | MSCI | Msci INC | -0.3% | -72.11% | Trim |
| 18 | TYL | Tyler Technologies INC | -0.5% | -71.83% | Trim |
| 19 | DHR | Danaher CORP | -0.6% | EXIT | Sold out |
| 20 | DSGX | Descartes Systems Grp/the | -0.7% | EXIT | Sold out |
| 21 | FSV | Firstservice CORP | -2.9% | EXIT | Sold out |
| 22 | SRCLEUR | Stericycle INC | -4.1% | EXIT | Sold out |
| 23 | AFG | American Financial Group INC | -6.4% | EXIT | Sold out |
| 24 | WCN | Waste Connections INC | -7.6% | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-19 | Amendment | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-14 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-13 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-13 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
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