# Spouting Rock Asset Management, LLC

> Institutional holdings reported to the SEC as of Q4 2023 on Form 13F. CIK 1771174. Source: https://holderbook.com/funds/1771174-spouting-rock-asset-management-llc/

- Reported value: $273.2M
- Positions: 118
- Weight of the ten largest: 54.9%
- Filed: 2024-02-16

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $22.5M | 148,250 | 8.2% | 7 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $22.2M | 51,966 | 8.1% | 17 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $20.6M | 41,618 | 7.5% | 4 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $18.0M | 34,126 | 6.6% | 7 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $16.4M | 116,353 | 6.0% | 7 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $11.4M | 19,137 | 4.2% | 5 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $11.4M | 33,822 | 4.2% | 4 |
| FLOOR & DECOR HLDGS INC | [FND](https://holderbook.com/stocks/FND/) | $11.1M | 99,755 | 4.1% | 7 |
| PARKER-HANNIFIN CORP | [PH](https://holderbook.com/stocks/PH/) | $9.0M | 19,551 | 3.3% | 4 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $7.5M | 38,885 | 2.7% | 17 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $6.3M | 9,484 | 2.3% | 7 |
| DOMINOS PIZZA INC | [DPZ](https://holderbook.com/stocks/DPZ/) | $5.8M | 14,065 | 2.1% | 4 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $5.5M | 14,752 | 2.0% | 17 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $5.4M | 38,518 | 2.0% | 7 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $4.5M | 40,779 | 1.6% | 4 |
| CROWN CASTLE INC | [CCI](https://holderbook.com/stocks/CCI/) | $4.5M | 38,727 | 1.6% | 17 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $3.5M | 15,229 | 1.3% | 7 |
| AXON ENTERPRISE INC | [AXON](https://holderbook.com/stocks/AXON/) | $3.1M | 11,958 | 1.1% | 7 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $3.0M | 5,592 | 1.1% | 4 |
| MSCI INC | [MSCI](https://holderbook.com/stocks/MSCI/) | $2.9M | 5,078 | 1.1% | 4 |
| ALPS ETF TR | [AMLP](https://holderbook.com/stocks/AMLP/) | $2.3M | 53,255 | 0.8% | 8 |
| RYMAN HOSPITALITY PPTYS INC | [RHP](https://holderbook.com/stocks/RHP/) | $2.3M | 20,450 | 0.8% | 9 |
| HUBSPOT INC | [HUBS](https://holderbook.com/stocks/HUBS/) | $2.1M | 3,677 | 0.8% | 7 |
| RAPID7 INC | [RPD](https://holderbook.com/stocks/RPD/) | $2.0M | 35,361 | 0.7% | 5 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $1.9M | 8,237 | 0.7% | 4 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $1.7M | 12,973 | 0.6% | 17 |
| CALIFORNIA RES CORP | [CRC](https://holderbook.com/stocks/CRC/) | $1.6M | 29,648 | 0.6% | 10 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $1.6M | 2,681 | 0.6% | 7 |
| FTI CONSULTING INC | [FCN](https://holderbook.com/stocks/FCN/) | $1.5M | 7,440 | 0.5% | 13 |
| MEDPACE HLDGS INC | [MEDP](https://holderbook.com/stocks/MEDP/) | $1.5M | 4,813 | 0.5% | 13 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $1.5M | 8,826 | 0.5% | 7 |
| TENABLE HLDGS INC | [TENB](https://holderbook.com/stocks/TENB/) | $1.4M | 30,884 | 0.5% | 11 |
| GIBRALTAR INDS INC | [ROCK](https://holderbook.com/stocks/ROCK/) | $1.4M | 17,935 | 0.5% | 13 |
| ALTA EQUIPMENT GROUP INC | [ALTG](https://holderbook.com/stocks/ALTG/) | $1.4M | 112,445 | 0.5% | 7 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.4M | 3,875 | 0.5% | 7 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.4M | 13,739 | 0.5% | 8 |
| GRAY MEDIA INC | [GTN](https://holderbook.com/stocks/GTN/) | $1.4M | 151,815 | 0.5% | 10 |
| MAKEMYTRIP LIMITED MAURITIUS | [MMYT](https://holderbook.com/stocks/MMYT/) | $1.4M | 28,843 | 0.5% | 10 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $1.3M | 8,691 | 0.5% | 7 |
| WEATHERFORD INTL PLC | [WFRD](https://holderbook.com/stocks/WFRD/) | $1.2M | 12,711 | 0.5% | 5 |
| NV5 GLOBAL INC | [NVEE](https://holderbook.com/stocks/NVEE/) | $1.2M | 11,176 | 0.5% | 13 |
| SONIC AUTOMOTIVE INC | [SAH](https://holderbook.com/stocks/SAH/) | $1.2M | 21,981 | 0.5% | 10 |
| HA SUSTAINABLE INFRA CAP INC | [HASI](https://holderbook.com/stocks/HASI/) | $1.2M | 44,530 | 0.4% | 13 |
| PAPA JOHNS INTL INC | [PZZA](https://holderbook.com/stocks/PZZA/) | $1.2M | 15,636 | 0.4% | 5 |
| HANCOCK WHITNEY CORPORATION | [HWC](https://holderbook.com/stocks/HWC/) | $1.2M | 24,444 | 0.4% | 8 |
| MGP INGREDIENTS INC NEW | [MGPI](https://holderbook.com/stocks/MGPI/) | $1.2M | 12,006 | 0.4% | 13 |
| PERFICIENT INC | [PRFT](https://holderbook.com/stocks/PRFT/) | $1.2M | 17,966 | 0.4% | 13 |
| SUPER MICRO COMPUTER INC | [SMCIXXXX](https://holderbook.com/stocks/SMCIXXXX/) | $1.2M | 4,059 | 0.4% | 4 |
| TALOS ENERGY INC | [TALO](https://holderbook.com/stocks/TALO/) | $1.1M | 77,180 | 0.4% | 7 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.1M | 4,131 | 0.4% | 2 |
| RH | [RH](https://holderbook.com/stocks/RH/) | $1.1M | 3,620 | 0.4% | 4 |
| ANSYS INC | [ANSS](https://holderbook.com/stocks/ANSS/) | $1.0M | 2,852 | 0.4% | 4 |
| TANDEM DIABETES CARE INC | [TNDM](https://holderbook.com/stocks/TNDM/) | $1.0M | 34,926 | 0.4% | 17 |
| GREEN PLAINS INC | [GPRE](https://holderbook.com/stocks/GPRE/) | $1.0M | 40,095 | 0.4% | 10 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $1.0M | 1,416 | 0.4% | 3 |
| DEXCOM INC | [DXCM](https://holderbook.com/stocks/DXCM/) | $990.0K | 7,978 | 0.4% | 4 |
| HARBORONE BANCORP INC NEW | [HONE](https://holderbook.com/stocks/HONE/) | $980.4K | 81,833 | 0.4% | 12 |
| POOL CORP | [POOL](https://holderbook.com/stocks/POOL/) | $974.0K | 2,443 | 0.4% | 2 |
| CONSTELLATION BRANDS INC | [STZ](https://holderbook.com/stocks/STZ/) | $971.8K | 4,020 | 0.4% | 7 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $958.3K | 6,184 | 0.4% | 15 |
| LIVENT CORP | [LTHM](https://holderbook.com/stocks/LTHM/) | $908.3K | 50,517 | 0.3% | 4 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $870.9K | 5,908 | 0.3% | 1 |
| EXACT SCIENCES CORP | [EXAS](https://holderbook.com/stocks/EXAS/) | $847.4K | 11,454 | 0.3% | 4 |
| TELADOC HEALTH INC | [TDOC](https://holderbook.com/stocks/TDOC/) | $842.6K | 39,100 | 0.3% | 4 |
| EPR PPTYS | [EPR](https://holderbook.com/stocks/EPR/) | $836.8K | 17,271 | 0.3% | 8 |
| HOWMET AEROSPACE INC | [HWM](https://holderbook.com/stocks/HWM/) | $814.1K | 15,042 | 0.3% | 4 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $806.6K | 3,159 | 0.3% | 4 |
| STRATEGY INC | [MSTR](https://holderbook.com/stocks/MSTR/) | $802.8K | 1,271 | 0.3% | 2 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $794.5K | 2,917 | 0.3% | 7 |
| AGREE RLTY CORP | [ADC](https://holderbook.com/stocks/ADC/) | $788.2K | 12,521 | 0.3% | 13 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $776.9K | 2,214 | 0.3% | 2 |
| HEALTHEQUITY INC | [HQY](https://holderbook.com/stocks/HQY/) | $706.7K | 10,659 | 0.3% | 3 |
| ENPHASE ENERGY INC | [ENPH](https://holderbook.com/stocks/ENPH/) | $692.3K | 5,239 | 0.3% | 2 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $674.8K | 7,236 | 0.2% | 1 |
| BROWN & BROWN INC | [BRO](https://holderbook.com/stocks/BRO/) | $660.6K | 9,290 | 0.2% | 7 |
| CRISPR THERAPEUTICS AG | [CRSP](https://holderbook.com/stocks/CRSP/) | $626.5K | 10,008 | 0.2% | 8 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $601.9K | 2,030 | 0.2% | 4 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $585.0K | 3,922 | 0.2% | 7 |
| FIRST SOLAR INC | [FSLR](https://holderbook.com/stocks/FSLR/) | $579.4K | 3,363 | 0.2% | 1 |
| STARWOOD PPTY TR INC | [STWD](https://holderbook.com/stocks/STWD/) | $576.5K | 27,425 | 0.2% | 1 |
| NNN REIT INC | [NNN](https://holderbook.com/stocks/NNN/) | $550.8K | 12,780 | 0.2% | 1 |
| HEICO CORP NEW | [HEI](https://holderbook.com/stocks/HEI/) | $516.4K | 2,887 | 0.2% | 7 |
| THE TRADE DESK INC | [TTD](https://holderbook.com/stocks/TTD/) | $481.1K | 6,685 | 0.2% | 8 |
| TOLL BROTHERS INC | [TOL](https://holderbook.com/stocks/TOL/) | $474.7K | 4,618 | 0.2% | 1 |
| TAKE-TWO INTERACTIVE SOFTWAR | [TTWO](https://holderbook.com/stocks/TTWO/) | $473.8K | 2,944 | 0.2% | 1 |
| TREX INC | [TREX](https://holderbook.com/stocks/TREX/) | $443.0K | 5,351 | 0.2% | 2 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $425.4K | 12,635 | 0.2% | 1 |
| CALLAWAY GOLF CO | [CALY](https://holderbook.com/stocks/CALY/) | $412.2K | 28,742 | 0.2% | 1 |
| NOODLES & CO | [NDLS](https://holderbook.com/stocks/NDLS/) | $381.5K | 121,096 | 0.1% | 17 |
| NEXGEN ENERGY LTD | [NXE](https://holderbook.com/stocks/NXE/) | $379.5K | 54,217 | 0.1% | 1 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $357.8K | 4,193 | 0.1% | 2 |
| AUGMEDIX INC | [AUGX](https://holderbook.com/stocks/AUGX/) | $340.5K | 58,212 | 0.1% | 7 |
| INVITATION HOMES INC | [INVH](https://holderbook.com/stocks/INVH/) | $332.9K | 9,759 | 0.1% | 2 |
| DIAMONDBACK ENERGY INC | [FANG](https://holderbook.com/stocks/FANG/) | $324.7K | 2,094 | 0.1% | 1 |
| IMAX CORP | [IMAX](https://holderbook.com/stocks/IMAX/) | $297.2K | 19,787 | 0.1% | 4 |
| AUTOZONE INC | [AZO](https://holderbook.com/stocks/AZO/) | $292.2K | 113 | 0.1% | 3 |
| RXO INC | [RXO](https://holderbook.com/stocks/RXO/) | $271.1K | 11,656 | 0.1% | 5 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $270.5K | 3,000 | 0.1% | 1 |
| ISHARES TR | [IWO](https://holderbook.com/stocks/IWO/) | $261.8K | 1,038 | 0.1% | 1 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $248.9K | 565 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2023 | +12.3% | +11.2% | +1.2% | 100% |
| Q3 2023 | -3.2% | -3.6% | +0.4% | 100% |
| Q2 2023 | +10.0% | +8.3% | +1.7% | 100% |
| Q1 2023 | +4.8% | +7.0% | -2.3% | 100% |
| Q4 2022 | +1.9% | +7.1% | -5.1% | 99% |
| Q3 2022 | -2.2% | -5.3% | +3.2% | 100% |
| Q2 2022 | -15.8% | -16.5% | +0.7% | 100% |
| Q1 2022 | -7.0% | -4.9% | -2.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2023 | $273.2M | 118 |
| Q3 2023 | $312.9M | 152 |
| Q2 2023 | $276.1M | 157 |
| Q1 2023 | $283.6M | 175 |
| Q4 2022 | $134.7M | 140 |
| Q3 2022 | $130.1M | 142 |
| Q2 2022 | $154.0M | 133 |
| Q1 2022 | $119.7M | 56 |
| Q4 2021 | $127.5M | 59 |
| Q3 2021 | $200.6M | 101 |
| Q2 2021 | $325.8M | 204 |
| Q1 2021 | $322.8M | 205 |