Durable Capital Partners Amends Warby Parker Stake

TL;DR

**Durable Capital Partners updated their Warby Parker stock ownership, watch for market reaction.**

AI Summary

Durable Capital Partners LP, an investment firm based in Bethesda, MD, filed an amendment to its SC 13G on February 12, 2024, indicating a change in its beneficial ownership of Warby Parker Inc. Class A common stock as of December 31, 2023. This filing, Amendment No. 3, updates their previous disclosures regarding their stake in the ophthalmic goods company. This matters to investors because changes in institutional ownership can signal shifts in confidence or investment strategy from major players, potentially influencing stock price and market perception.

Why It Matters

This filing shows an update to a significant institutional investor's position in Warby Parker, which can influence market sentiment and potentially impact the stock's trading activity.

Risk Assessment

Risk Level: low — This is a routine amendment to an ownership filing and does not inherently signal a high-risk event for the company.

Analyst Insight

Investors should monitor subsequent filings from Durable Capital Partners LP to understand the full extent of their ownership changes and consider how this might align with their own investment thesis for Warby Parker Inc.

Key Players & Entities

• Durable Capital Partners LP (company) — the reporting person filing the SC 13G/A
• Warby Parker Inc. (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• February 12, 2024 (date) — the filing date of the SC 13G/A
• Delaware (company) — place of organization for Durable Capital Partners LP

FAQ

Key Financial Figures

• $0.0001 — Name of Issuer) Class A common stock, $0.0001 per share (Title of Class of Securiti

Filing Documents

• warby_sc13ga-123123.htm (SC 13G/A) — 63KB
• 0001999371-24-001948.txt ( ) — 65KB

(a). Name

Item 1(a). Name of Issuer : Warby Parker Inc. (the “Issuer”)

(b). Address

Item 1(b). Address of Issuer’s Principal Executive Offices : Warby Parker Inc. 233 Spring Street, 6th Floor East New York, New York 10013

(a). Names

Item 2(a). Names of Person Filing : The name of the person filing this report is: Durable Capital Partners LP (the “Reporting Person”)

(b). Address

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

(c). Citizenship

Item 2(c). Citizenship or Place of Organization : The Reporting Person is a limited partnership organized under the laws of the State of Delaware.

(d). Title

Item 2(d). Title of Class of Securities : Class A common stock, $0.0001 per share (“Common Stock”)

(e). CUSIP

Item 2(e). CUSIP Number : 93403J106

If

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 § 240.13d-1 (b)(1)(ii)(A) through (I), so long as the non-U.S. institution is subject to a regulatory scheme that is substantially comparable to the regulatory scheme applicable to the equivalent U.S. institution. (k) Group, in accordance with §240.13d-1(b)(1)(ii)(K).

Ownership

Item 4. Ownership . The information required by this item with respect to the Reporting Person is set forth in Rows 5 through 9 and 11 of the cover page to this Schedule 13G. The ownership percentages reported are based on 97,925,389 outstanding shares of Common Stock as of November 6, 2023, as reported in the Issuer’s Form 10-Q filed on November 8, 2023. Durable Capital Master Fund LP directly holds 6,412,215 shares of Common Stock (the “Shares”). The Reporting Person, as the investment adviser to Durable Capital Master Fund LP, has sole power to direct the vote and disposition of the Shares. Durable Capital Partners GP LLC (“Durable GP”) is the general partner of the Reporting Person, and Henry Ellenbogen is the chief investment officer of the Reporting Person and the managing member of Durable GP.

Ownership

Item 5. Ownership of Five Percent or Less of a Class . Inapplicable.

Ownership

Item 6. Ownership of More than Five Percent on Behalf of Another Person . See disclosure of relationships among parties under Item 4. The economic benefits of the Shares are shared based on agreements among the parties.

Identification

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person . See control and Shares holding disclosure in Item 4.

Identification

Item 8. Identification and Classification of Members of the Group . Inapplicable.

Notice

Item 9. Notice of Dissolution of Group . Inapplicable.

Certification

Item 10. Certification . By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. SIGNATURE After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this Date: February 12, 2024 DURABLE CAPITAL PARTNERS LP By: /s/ Julie Jack Name: Julie Jack Title: Authorized Person

View Full Filing

View this SC 13G/A filing on SEC EDGAR