SANDERS MORRIS HARRIS Bets on Cintas (CTAS) With a 49K Share Purchase
Key Points
Acquired 49,220 shares of Cintas; estimated trade value of $10.10 million
The position accounts for 1.3% of fund AUM as of September 30, 2025
Post-trade stake: 49,220 shares valued at $10.10 million as of September 30, 2025, according to the SEC Form 13F filing
Position is outside the fund’s top five holdings
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What happened
According to a U.S. Securities and Exchange Commission (SEC) filing dated October 6, 2025, SANDERS MORRIS HARRIS LLC established a new stake in Cintas Corporation (NASDAQ:CTAS) during the third quarter. The fund purchased approximately 49,220 shares, with an estimated transaction value of $10.10 million. This brings the firm’s total reportable positions to 309 as of September 30, 2025.
What else to know
This is a new position for the fund and now represents 1.3% of its 13F reportable assets under management as of September 30, 2025
Top holdings after the filing:
NASDAQ:QQQ: $300.76 million (20% of AUM) as of September 30, 2025
NYSE:BX: $94.80 million (12% of AUM) as of September 30, 2025
NASDAQ:NVDA: $34.86 million (4.6% of AUM) as of September 30, 2025
NASDAQ:CSWC: $29.92 million (3.9% of AUM) as of September 30, 2025
NASDAQ:AAPL: $28.99 million (3.8% of AUM)
As of October 6, 2025, shares of Cintas were priced at $199.04, down 2.66% for the year ended October 6, 2025, and underperforming the S&P 500 by 20.21 percentage points
Company overview
| Metric | Value |
|---|---|
| Price (as of market close October 6, 2025) | $199.04 |
| Market capitalization | $80.20 billion |
| Revenue (TTM) | $10.56 billion |
| Net income (TTM) | $1.85 billion |
Company snapshot
Provides uniform rental, facility services, first aid and safety services, and fire protection products.
Generates revenue through recurring rental contracts, direct sales of uniforms and facility supplies, and value-added safety and compliance solutions.
Serves a diverse client base ranging from small businesses to large corporations across the United States, Canada, and Latin America.
Cintas Corporation is a leading provider of corporate identity uniforms and business services, with over $10.56 billion in trailing twelve-month revenue. The company operates a recurring revenue model through its rental and service contracts. It has a broad service portfolio and an extensive distribution network within the specialty business services sector.
Foolish take
In two years, Sanders Morris Harris' portfolio has grown from $487 million to $758 million. The strong performance in recent years makes it a fund worth paying attention to.
Its Cintas position isn't in the top five, but it is significant. At the end of September, it was the 11th largest position in a portfolio that contained over 300 stocks.
Sanders Morris Harris takes a highly diversified approach to portfolio management. Only 11 stocks made up more than 1% of the overall portfolio at the end of September.
It's not hard to see why Sanders Morris Harris wants Cintas in its portfolio. With revenue that reached $9.6 billion last year, it's far and away the nation's largest provider of uniforms and facility services.
Economies of scale allow Cintas to generate profits while offering its customers competitive prices that smaller competitors have a hard time matching. This durable advantage could allow its bottom line to steadily rise for decades to come.
Glossary
Form 13F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
Assets Under Management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Position: The amount of a particular security or investment held by an individual or institution.
Stake: The ownership interest or share an investor holds in a company or fund.
Trailing Twelve Months (TTM): The 12-month period ending with the most recent quarterly report.
Reportable Positions: Investment holdings that must be disclosed to regulators, typically due to size or regulatory requirements.
Recurring Rental Contracts: Agreements where clients pay regularly for ongoing use of products or services, such as uniforms or equipment.
Distribution Network: The system of facilities and channels a company uses to deliver products or services to customers.
Specialty Business Services Sector: Industry segment focused on providing specialized support services to businesses, such as facility management or safety solutions.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Blackstone, and Nvidia. The Motley Fool recommends Cintas. The Motley Fool has a disclosure policy.
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