← Holdings
WSC

WillScot Hdgs

2 managers · $135M total
Data: SEC EDGAR 13F · 2026Q2
Manager holders · last 5 qtrsⓘ
2
2025Q2 – 2026Q2 · +1 QoQ
Total position
$135M
Combined value across tracked managers
Net move this quarter
↓ Trimming
Weighted by holders' share change
HolderQ actionValue% of port.Style
Baillie GiffordⓘTrim-6.85%$121M0.11%Long-term growth / Global allocation
MarathonAdd+11.6%$14M0.57%Capital cycle / Contrarian value
What managers sayⓘ
2026-10-18Baillie GiffordBearMonks’ musings: harnessing growth, but not hostage to AIDetail →
2026-07-01The Monks Investment Trust (Baillie Gifford)BullMonks Valuation - 31 May 2026Detail →
Earnings Callsⓘ
Q2 2026August 13, 2026
›
### Summary ConclusionThis quarter's results exceeded expectations, primarily driven by robust demand for large-scale projects and improved execution of internal commercial strategies, which restored organic revenue growth.
### Key DataTotal revenue $612 million, +4% YoY; rental and service revenue +6%; modular activations +16%; order book +13%.
### Business ProgressDemand for large-scale projects (data centers, infrastructure, manufacturing) remained strong, with enterprise customer revenue +21%. The team added approximately 5% in sales headcount and launched new products such as climate-controlled storage and Clearspan industrial tents, which are expected to grow at around 20% by year-end. On the operational side, modular work orders and refurbishment activities +17%, supporting higher activation volumes. Additionally, 2,000 units were moved in and out of the World Cup host city and successfully redeployed. Safety performance continued to improve.
### Guidance and OutlookFull-year revenue guidance raised to approximately $2.3 billion (+$50 million), and adjusted EBITDA raised to approximately $920 million. Q3 revenue is expected at $585 million, with adjusted EBITDA of approximately $232 million (margin 39.7%). Q4 margins are expected to be flat or positive YoY. Net capital expenditure raised to $375 million to support demand for large-scale projects.
### Risk/Highlight SignalsManagement's tone was positive, emphasizing "activity levels not seen in years" and "internally driven growth," but acknowledged ongoing headwinds in the small-ticket transaction business and the need for caution amid economic uncertainty.
FinancialsⓘFY2025 · Source: SEC EDGAR 10-K

5y revenue CAGR 8% · latest net margin -2.3% · FCF consistently positive

Revenue$2.28B
Rev. YoY-4.8%
Gross margin51%
Net margin-2.3%
Net income-$0.05B
Free cash flow$0.74B
Operating cash flow$0.76B
ROE-6.2%

Source: SEC EDGAR company filings (10-K). Foreign issuers (20-F/IFRS) not yet covered.