On January 16, Louisbourg Investments disclosed a new position in Boyd Group Services during the fourth quarter.(BYDG.F 4.68%).(BYDG.F 4.68%), acquiring 46,456 shares in an estimated $7.27 million trade based on quarterly average pricing.
What happened
According to a filing with the U.S. Securities and Exchange Commission dated January 16, Louisbourg Investments initiated a new position in Boyd Group Services during the fourth quarter, buying up 46,456 shares worth about $7.27 million.(BYDG.F 4.68%) during the fourth quarter, buying up 46,456 shares worth $7.27 million.(BYDG.F 4.68%), acquiring 46,456 shares. The estimated value of the trade was $7.27 million based on the average closing price during the quarter. The fund’s position in Boyd Group Services was valued at $7.27 million at quarter end, up from zero in the prior period.
What else to know
The new position represents 1.45% of Louisbourg’s 13F assets under management at quarter-end.
Top holdings after the filing:
- NYSE: CNI: $28.72 million (5.7% of AUM)
- NASDAQ: GOOGL: $14.78 million (2.9% of AUM)
- NASDAQ: MSFT: $13.29 million (2.6% of AUM)
- NYSEMKT: IVV: $12.25 million (2.4% of AUM)
- NYSE: WPM: $10.80 million (2.2% of AUM)
As of January 15, shares of Boyd Group Services were priced at $162.66.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.10 billion |
| Net income (TTM) | $16.07 million |
| Dividend yield | 0.3% |
| Price (as of January 15) | $162.66 |
Company snapshot
- Boyd Group Services operates non-franchised collision repair centers and retail auto glass outlets across North America, with services including collision repair, glass replacement, and calibration.
- The company generates revenue primarily from insurance-paid vehicle repairs and auto glass services, leveraging a network of branded service centers and third-party administrator offerings.
- It serves insurance companies and individual vehicle owners as its core customer base.
Boyd Group Services is a leading provider of collision repair and auto glass services, operating under multiple well-known trade names in both the United States and Canada. The company has established a broad geographic footprint and a scalable business model focused on insurance-driven repair volume.
What this transaction means for investors
Boyd Group operates a scaled, insurance-driven collision repair platform, a niche where volume, geographic density, and insurer relationships matter far more than branding or consumer whim. Repair demand is tied to miles driven and accident frequency, not discretionary spending cycles, which gives the business a defensive backbone even when auto sales slow.
Shares are currently priced about 17% above their November IPO price of $141, and recent financials reinforce that bullish setup. Third-quarter results showed steady revenue growth supported by same-store sales gains and continued expansion of repair locations across North America. Margins remain pressured by labor and parts costs, but management has demonstrated the ability to navigate inflation through pricing discipline and insurer negotiations.
At roughly 1.45% of reported assets, this is a meaningful but not aggressive allocation, consistent with a fund that favors durable cash generators like Canadian National, Microsoft, and Wheaton Precious Metals. For long-term investors, this looks less like an IPO trade and more like early positioning in a business designed to compound quietly over time.
