Managers / Q4 2023 · view latest →
STADIUM CAPITAL MANAGEMENT LLC
CIK 0001105087 · 199 ELM STREET, NEW CANAAN, CT, 06840-5321 · (203) 972-8235
Summary
Stadium Capital Management LLC reported $119M in U.S.-listed holdings across 10 positions for Q4 2023.
The portfolio is heavily concentrated: SL2 alone accounts for 25.1% of reported value.
Compared with Q3 2023, the fund opened 2 new positions and exited 4.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 100.0% · $119M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| DVDOUBLEVERIFY HOLDINGS INC | NEW | +154.1K | 154.1K | +$6M | $6M |
| NAVINavient Corp | NEW | +126.6K | 126.6K | +$2M | $2M |
| ASOAcademy Sports & Outdoors | SOLD OUT | −49.8K | 0 | −$2M | $0 |
| KFYKorn Ferry | SOLD OUT | −45.8K | 0 | −$2M | $0 |
| Amarin Corp PLC | SOLD OUT | −1.89M | 0 | −$2M | $0 |
| TNETTriNet Group Inc | SOLD OUT | −14.1K | 0 | −$2M | $0 |
| RHRH | ADDED | +9.4K | 26.2K | +$3M | $8M |
| BLDRBuilders FirstSource Inc | ADDED | +53.8K | 155.0K | +$13M | $26M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SL2Sleep Number Corphistory → | COM | 25.15% | $30M | 2.02M |
| 2 | BLDRBuilders FirstSource Inchistory → | COM | 21.69% | $26M | 155.0K |
| 3 | GDDYGoDaddy Inchistory → | CL A | 19.10% | $23M | 214.7K |
| 4 | PGT Innovations Inc | COM | 15.94% | $19M | 467.3K |
| 5 | RHRHhistory → | COM | 6.40% | $8M | 26.2K |
| 6 | GTLBGitlab Inchistory → | CLASS A COM | 4.88% | $6M | 92.4K |
| 7 | DVDOUBLEVERIFY HOLDINGS INChistory → | COM | 4.75% | $6M | 154.1K |
| 8 | NAVINavient Corphistory → | COM | 1.98% | $2M | 126.6K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $41M | 6 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $86M | 6 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $94M | 7 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $109M | 7 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $109M | 9 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $118M | 10 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $133M | 11 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $91M | 9 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $126M | 9 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $119M | 10 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $111M | 10 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $118M | 15 | Aug 23, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2023REVEALED | $147M | 10 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $147M | 11 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $168M | 11 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $184M | 10 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $211M | 10 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $266M | 10 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $229M | 11 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $207M | 11 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $214M | 10 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $200M | 9 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $211M | 14 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $249M | 13 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $176M | 14 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $74M | 8 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $166M | 10 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $217M | 11 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $188M | 14 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $242M | 15 | Feb 14, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.