Durable Capital Partners Holds 2.4M Shares of RBC Bearings
Ticker: RBC · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1324948
| Field | Detail |
|---|---|
| Company | Rbc Bearings Inc (RBC) |
| Form Type | SC 13G/A |
| Filed Date | Feb 12, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**Durable Capital Partners still owns a big chunk of RBC Bearings, signaling confidence.**
AI Summary
Durable Capital Partners LP, a Delaware-based investment firm, filed an amended SC 13G/A on February 12, 2024, disclosing its ownership of 2,416,738 shares of RBC Bearings Incorporated Class A Common Stock as of December 31, 2023. This represents a significant stake in the company, indicating Durable Capital Partners' continued confidence in RBC Bearings. For investors, this filing shows a major institutional investor maintaining a substantial position, which could be seen as a positive signal for the stock's long-term prospects.
Why It Matters
This filing confirms a major institutional investor's continued significant stake in RBC Bearings, which can influence market perception and investor confidence in the stock.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional holding, which generally reduces volatility and risk.
Analyst Insight
A smart investor would note this continued institutional holding as a sign of confidence, potentially reinforcing a long-term bullish outlook on RBC Bearings, but should also conduct their own due diligence.
Key Numbers
- 2,416,738 — Shares Beneficially Owned (Represents the total number of RBC Bearings shares held by Durable Capital Partners LP as of December 31, 2023.)
- December 31, 2023 — Date of Event (The specific date for which the ownership data is reported in the filing.)
- February 12, 2024 — Filing Date (The date the SC 13G/A amendment was filed with the SEC.)
- 75524B104 — CUSIP Number (Unique identifier for RBC Bearings Incorporated Class A Common Stock.)
Key Players & Entities
- Durable Capital Partners LP (company) — the reporting person and institutional investor
- RBC Bearings Incorporated (company) — the subject company whose stock is being reported
- Delaware (company) — place of organization for Durable Capital Partners LP
- Class A Common Stock, $0.01 per share (company) — the type of securities held
Forward-Looking Statements
- Durable Capital Partners LP will maintain a significant stake in RBC Bearings Incorporated. (Durable Capital Partners LP) — medium confidence, target: Q2 2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, which is filed by institutional investors who acquire more than 5% of a company's stock but do not intend to influence or control the company. The '/A' indicates it's an amendment to a previously filed statement, updating the ownership information as of December 31, 2023, in this case.
Who is the reporting person in this SC 13G/A filing?
The reporting person is Durable Capital Partners LP, an investment firm organized in Delaware, as stated on the cover page and in Item 1 of the filing.
How many shares of RBC Bearings Incorporated does Durable Capital Partners LP beneficially own?
Durable Capital Partners LP beneficially owns 2,416,738 shares of RBC Bearings Incorporated Class A Common Stock, as detailed in Item 9 of the filing's cover page.
What is the date of the event that required this filing?
The date of the event which required the filing of this statement is December 31, 2023, as specified on the cover page of the SC 13G/A.
Under which rule was this Schedule 13G/A filed?
This Schedule 13G/A was filed under Rule 13d-1(b), as indicated by the checked box on the cover page of the filing.
Filing Stats: 1,031 words · 4 min read · ~3 pages · Grade level 8.4 · Accepted 2024-02-12 17:29:22
Key Financial Figures
- $0.01 — Name of Issuer) Class A Common Stock, $0.01 per share (Title of Class of Securiti
Filing Documents
- rbcbearings_sc13ga-123123.htm (SC 13G/A) — 68KB
- 0001999371-24-001950.txt ( ) — 69KB
(a). Name of Issuer
Item 1(a). Name of Issuer : RBC Bearings Incorporated (the “Issuer”) Item 1(b). Address of Issuer’s Principal Executive Offices : One Tribology Center Oxford, CT 06478 Item 2(a). Names of Person Filing : The name of the person filing this report is: Durable Capital Partners LP (the “Reporting Person”) Item 2(b). Address of Principal Business Office or, if None, Residence : The address of the principal business office of the Reporting Person is: 4747 Bethesda Avenue, Suite 1002 Bethesda, Maryland 20814 Item 2(c). Citizenship or Place of Organization : The Reporting Person is a limited partnership organized under the laws of the State of Delaware. Item 2(d). Title of Class of Securities : Class A common stock, $0.01 per share (“Common Stock”) Item 2(e). CUSIP Number : 75524B104 Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment advisor in accordance with §240.13d-1(b)(1)(ii)(E). (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F). (g) A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G). (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (j) A non-U.S. institution that is the functional equivalent of any of the institutions listed in §