On October 17, 2025, Manitou Funding Administration Ltd. disclosed in a Securities and Alternate Fee submitting for the interval ended Q3 2025 that it bought 30,004 shares of The Dwelling Depot.
This was an estimated $11.80 million commerce based mostly on the common worth for the quarter.
What occurred
Based on a submitting with the Securities and Alternate Fee dated October 17, 2025, Manitou Funding Administration Ltd. lowered its stake in The Dwelling Depot by 30,004 shares throughout Q3 2025.
The estimated worth of the shares bought was $11.80 million, calculated utilizing the common closing worth for the quarter.
The fund held 37,869 shares after the transaction.
What else to know
The transfer was a discount; Dwelling Depot now represents 2.68% of Manitou’s 13F belongings beneath administration.
Manitou Funding Administration’s prime holdings after the submitting:
- Berkshire Hathaway: $84.91 million (14.8% of AUM) as of September 30, 2025
- Alphabet: $81.33 million (14.2% of AUM) as of September 30, 2025
- Idexx Laboratories: $60.74 million (10.6% of AUM) as of September 30, 2025
- Microsoft: $53.19 million (9.3% of AUM) as of September 30, 2025
- Amazon: $47.31 million (8.3% of AUM) as of September 30, 2025
As of October 16, 2025, shares had been priced at $387.39, down 7.46% over the previous 12 months, underperforming the S&P 500 by 19 share factors over the previous 12 months.
Firm Overview
MetricValueRevenue (TTM)$165.05 billionNet Earnings (TTM)$14.63 billionDividend Yield2.33percentValue (as of market shut 2025-10-16)$387.39
Firm Snapshot
The Dwelling Depot:
- Gives constructing supplies, dwelling enchancment merchandise, garden and backyard provides, décor, and set up providers; generates income from in-store and on-line retail gross sales, instrument leases, and set up tasks.
- Operates a large-scale retail mannequin with each bodily shops and e-commerce platforms, incomes income by direct product gross sales and value-added providers.
- Serves householders, skilled contractors, property managers, and specialty trades throughout the USA.
The Dwelling Depot, Inc. is a number one dwelling enchancment retailer with a nationwide presence and a diversified product portfolio.
The corporate leverages its in depth retailer community and strong on-line platforms to serve each shopper {and professional} markets.
Silly take
Manitou Funding Administration has held The Dwelling Depot for quite a few years previous to final quarter’s gross sales.
Dwelling Depot accounted for six.3% of the agency’s portfolio as just lately as late 2024. Nevertheless, the inventory has jumped 34% within the final two years alone, and it regarded like Manitou wished to money in on a portion of its holding whereas the inventory was again close to all-time highs.
Mentioned one other manner, the inventory was buying and selling at 29 occasions earnings over the last quarter — which equaled its highest ranges seen over the past decade. This lofty valuation and Dwelling Depot’s rising worth might have been sufficient for the agency to resolve to pare down its holding to 2.7% of its portfolio.
From a Silly investing perspective, Dwelling Depot stays a top-tier compounder — albeit at a barely lofty valuation immediately.
Just lately spending roughly $22 billion buying distributors adjoining to its core dwelling enchancment operations, Dwelling Depot nonetheless affords traders mid-single digit gross sales progress charges, a rising dividend, and ample inventory buybacks.
That mentioned, the inventory now boasts a market capitalization of practically $400 billion, so traders should not plan on this being a fast multibagger. Reasonably, it appears to be like like a great dividend progress inventory that ought to hold chugging alongside, particularly if decrease rates of interest come to fruition.
Glossary
AUM (Property Underneath Administration): The full market worth of investments managed on behalf of purchasers by a fund or agency.
13F belongings: U.S. fairness securities reported by institutional funding managers in quarterly SEC Kind 13F filings.
Reportable U.S. fairness belongings: U.S. shares that institutional managers should disclose in regulatory filings, usually massive, publicly traded equities.
Stake: The possession curiosity or variety of shares held in a specific firm by an investor or fund.
Prime holdings: The most important investments in a fund’s portfolio, normally ranked by market worth.
Dividend yield: Annual dividends per share divided by the share worth, expressed as a share.
TTM: The 12-month interval ending with the newest quarterly report.
Quarter (Q3 2025): The third three-month interval of 2025, usually July by September.
Submitting: An official doc submitted to a regulatory company, usually disclosing monetary or possession data.
Discount (in place): Promoting a part of an funding, reducing the variety of shares or worth held.
Josh Kohn-Lindquist has positions in Alphabet and Idexx Laboratories. The Motley Idiot has positions in and recommends Alphabet, Amazon, Berkshire Hathaway, Dwelling Depot, and Microsoft. The Motley Idiot recommends Idexx Laboratories and recommends the next choices: lengthy January 2026 $395 calls on Microsoft and brief January 2026 $405 calls on Microsoft. The Motley Idiot has a disclosure coverage.
