Jackson Square Partners Cuts Grocery Outlet Stake to 4.4%

TL;DR

**Jackson Square Partners just trimmed its GO stake to 4.4%.**

AI Summary

Jackson Square Partners, LLC, an investment adviser based in San Francisco, has updated its holdings in Grocery Outlet Holding Corp. (GO) as of December 31, 2023. The firm now beneficially owns 4,423,704 shares, representing 4.4% of the company's common stock, down from a previous filing. This matters to investors because a significant institutional investor has reduced its stake, which could signal a change in their outlook on the company's future performance.

Why It Matters

A reduction in ownership by a major institutional investor like Jackson Square Partners can sometimes indicate a less bullish outlook on the stock, potentially influencing other investors' decisions.

Risk Assessment

Risk Level: medium — While not a massive sell-off, a reduction by a large institutional holder introduces some uncertainty about their conviction in the stock.

Analyst Insight

Investors should monitor future institutional filings for Grocery Outlet Holding Corp. to see if other major holders are also adjusting their positions, and consider this alongside the company's upcoming earnings reports.

Key Numbers

• 4,423,704 — Shares Beneficially Owned (This is the total number of shares of Grocery Outlet Holding Corp. common stock that Jackson Square Partners, LLC beneficially owns.)
• 4.4% — Percentage of Class (This represents the percentage of Grocery Outlet Holding Corp.'s common stock that Jackson Square Partners, LLC now owns, indicating a reduction from previous filings.)
• 3,642,723 — Sole Voting Power Shares (This is the number of shares over which Jackson Square Partners, LLC has sole voting power.)
• 0 — Shared Voting Power Shares (Jackson Square Partners, LLC has no shared voting power over any shares.)
• 12/31/2023 — Date of Event (This is the effective date for the reported ownership change.)

Key Players & Entities

• Jackson Square Partners, LLC (company) — the reporting person and investment adviser
• Grocery Outlet Holding Corp. (company) — the issuer of the securities
• 4,423,704 (dollar_amount) — shares beneficially owned by Jackson Square Partners, LLC
• 4.4% (dollar_amount) — percentage of class beneficially owned by Jackson Square Partners, LLC
• December 31, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Other institutional investors may review their positions in Grocery Outlet Holding Corp. following this disclosure. (Grocery Outlet Holding Corp.) — medium confidence, target: Q1 2024
• Jackson Square Partners, LLC will continue to adjust its stake in Grocery Outlet Holding Corp. based on market conditions and company performance. (Jackson Square Partners, LLC) — high confidence, target: Next 12 months

FAQ

From the Filing

0001104659-24-012560.txt : 20240209 0001104659-24-012560.hdr.sgml : 20240209 20240209063708 ACCESSION NUMBER: 0001104659-24-012560 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Grocery Outlet Holding Corp. CENTRAL INDEX KEY: 0001771515 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 471874201 STATE OF INCORPORATION: DE FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-91396 FILM NUMBER: 24611079 BUSINESS ADDRESS: STREET 1: 5650 HOLLIS STREET CITY: EMERYVILLE STATE: CA ZIP: 94608 BUSINESS PHONE: (510) 845-1999 MAIL ADDRESS: STREET 1: 5650 HOLLIS STREET CITY: EMERYVILLE STATE: CA ZIP: 94608 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Jackson Square Partners, LLC CENTRAL INDEX KEY: 0001605911 ORGANIZATION NAME: IRS NUMBER: 800945254 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: ONE LETTERMAN DRIVE STREET 2: BUILDING A, SUITE A3-200 CITY: SAN FRANCISCO STATE: CA ZIP: 94129 BUSINESS PHONE: 4152164700 MAIL ADDRESS: STREET 1: ONE LETTERMAN DRIVE STREET 2: BUILDING A, SUITE A3-200 CITY: SAN FRANCISCO STATE: CA ZIP: 94129 SC 13G/A 1 tm245549d1_sc13ga.htm SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 SCHEDULE 13G* (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO § 240.13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO § 240.13d-2 (Amendment No. 5)* Grocery Outlet Holding Corp (Name of Issuer) Common (Title of Class of Securities) 39874R101 (CUSIP Number) 12/31/2023 (Date of Event Which Requires Filing of the Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: x Rule 13d-1(b) ¨ Rule 13d-1(c) ¨ Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1. NAME OF REPORTING PERSONS Jackson Square Partners, LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) ¨ (b) ¨ 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 3,642,723 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 4,423,704 8. SHARED DISPOSITIVE POWER None 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,423,704 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ¨ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.46% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA Item 1(a). Name of Issuer: Grocery Outlet Holding Corp Item 1(b). Address of Issuer’s Principal Executive Offices: 5650 Hollis Street Emeryville, CA 94608 Item 2(a). Name of Person Filing: Jackson Square Partners, LLC Item 2(b). Address of Principal Business Office or, if none, Residence: One Letterman Drive Building A, Suite A3-200 San Francisco, CA 94129 Item 2(c). Citizenship: Delaware Item 2(d). Title of Class of Securities: Common Item 2(e). CUSIP Number: 39874R101 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