Estuary Capital Management LP

Hedge Fund • Long/Short

Estuary Capital Management LP is a Long/Short Hedge Fund based in Wayzata, MN led by Andrew H. Warford, reporting $865.5M in AUM as of Q3 2025 with 34% Healthcare concentration and 78% concentrated in top 10 holdings.

Managing PartnerAndrew H. Warford

Portfolio Value: $563.2M
Positions: 16
Top Holding: DG at 8.74%
Last Reported: Q3 2025

Address308 Walker Avenue South, Wayzata, MN, 55391, United States

Top Holdings

Largest long holdings in Estuary Capital Management LP's portfolio (78.4% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Dollar General DG	Discount Stores Consumer Defensive	$49.2M	8.74%	+$12.0M Bought	0.22% 476.4K shares	Q4 2023 Held for 1y 11m
2 Dollar Tree DLTR	Discount Stores Consumer Defensive	$48.9M	8.69%	+$5.1M Bought	0.25% 518.4K shares	Q4 2023 Held for 1y 11m
3 Jazz Pharmaceuticals JAZZ	Biotechnology Healthcare	$47.9M	8.50%	-$9.8M Sold	0.60% 363.1K shares	Q4 2023 Held for 1y 11m
4 ICF International ICFI	Consulting Services Industrials	$47.4M	8.42%	+$4.7M Bought	2.77% 511.0K shares	Q2 2025 Held for 5 months
5 Booz Allen Hamilton BAH	Consulting Services Industrials	$47.4M	8.41%	+$1.9M Bought	0.38% 473.9K shares	Q2 2025 Held for 5 months
6 The Cooper Companies, Inc. COO	Medical - Instruments & Supplies Healthcare	$42.7M	7.58%	+$42.7M New	0.31% 622.2K shares	Q3 2025 Held for 2 months
7 UnitedHealth Group UNH	Medical - Healthcare Plans Healthcare	$42.4M	7.54%	+$2.7M Bought	0.01% 122.9K shares	Q1 2025 Held for 8 months
8 Global Payments GPN	Specialty Business Services Industrials	$41.7M	7.40%	-$7.2M Sold	0.21% 501.9K shares	Q4 2023 Held for 1y 11m
9 CACI International CACI	Information Technology Services Technology	$37.5M	6.66%	-$11.6M Sold	0.34% 75.2K shares	Q2 2025 Held for 5 months
10 Fox Factory Holding Corp. FOXF	Auto - Parts Consumer Cyclical	$36.6M	6.49%	+$36.6M New	3.60% 1.5M shares	Q3 2025 Held for 2 months

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Estuary Capital Management LP's latest filing

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Market Value

$563.2M

Prior: $513.0M

Q/Q Change

+9.79%

+$50.2M

Net Flows % of MV

+2.53%

Turnover Ratio

29.65%

New Purchases

6 stocks

$147.6M

Added To

5 stocks

+$26.5M

Sold Out Of

3 stocks

$68.8M

Reduced Holdings

5 stocks

-$91.0M

Increased Positions

Position	Shares Δ	Change
1 The Cooper Companies, Inc. COO	New	0 → 622.2K +$42.7M
2 Fox Factory Holding Corp. FOXF	New	0 → 1.5M +$36.6M
3 QuidelOrtho Corporation QDEL	New	0 → 970.9K +$28.6M
4 Monro, Inc. MNRO	New	0 → 996.0K +$17.9M
5 U-Haul Holding UHAL	New	0 → 214.2K +$12.2M

Decreased Positions

Position	Shares Δ	Change
1 Fair Isaac FICO	Sold	18.9K → 0 −$34.6M
2 Stanley Black & Decker SWK	Sold	295.5K → 0 −$20.0M
3 Teradyne, Inc. TER	Sold	158.1K → 0 −$14.2M
4 Universal Health Services UHS	-59.7%	259.3K → 104.5K −$31.7M
5 Advance Auto Parts AAP	-49.24%	1.0M → 517.1K −$30.8M