Stride: A Bit of a Dip, and a Portfolio Ponder

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Right. So, Kadensa Capital sold its entire Stride position. Entirely. Which, let’s be honest, is always a bit alarming. Like finding out your favourite barista has quit. It makes you question everything. Units of Stride stock lost: 157,101. Hours spent staring at the screen, trying to decide if this is a disaster or an opportunity: approximately 6. Number of cups of tea consumed in the process: definitely more than I should admit.

The filing says they offloaded it in Q4. Which, in investment terms, feels like a lifetime ago. It was worth around $23.40 million, apparently, though that figure is probably a bit…optimistic now. Honestly, the market is just exhausting. One minute everything is rosy, the next it’s all doom and gloom. It’s like trying to maintain a sensible diet whilst surrounded by cake.

Kadensa had 2.4% of its portfolio in Stride last quarter. Now, nothing. It’s a clean break. A decisive move. I wonder if they saw something we didn’t. Or maybe they just panicked. It’s easy to do. I once sold a perfectly good pair of boots because I thought they were “last season.” The regret was…substantial.

Portfolio Check-In

Just to remind myself (and you, if you’re still reading) what they’re holding onto. Apparently, they’re big fans of Nvidia ($97.38 million – sensible), Tesla ($60.65 million – a bit riskier, but okay), Taiwan Semiconductor ($60.04 million – solid), Alibaba ($54.29 million – interesting choice), and GE Aerospace ($48.69 million – surprisingly reliable). It’s a fairly predictable mix, really. A bit like my wardrobe – lots of black, a few hopeful splashes of colour that never quite get worn.

Stride’s Little Wobble

As of March 12th, Stride was trading at $84.78. Down 29.1% over the year. Ouch. Underperforming the S&P 500 by 50 percentage points. Double ouch. It’s not a pretty picture, is it? Though, honestly, very few pictures are truly “pretty” when you’re looking at financial data. It’s all just…numbers. And numbers can be cruel.

The Company Itself (A Quick Overview)

Okay, so Stride. They do online learning. K-12, adult education, career training. It’s a big operation. Revenue of $2.52 billion. Net income of $318.94 million. Market cap of $3.59 billion. All very impressive sounding. But numbers only tell you so much. It’s like knowing someone’s age and salary – it doesn’t tell you if they’re a good person.

  • They deliver online courses.
  • They use technology.
  • They serve schools, individuals, employers.

Basically, they’re trying to make education more accessible. Which is a good thing. Though, let’s be real, accessibility doesn’t always equal quality. It’s a delicate balance.

What Does This All Mean?

So, Kadensa sold after Stride had a bit of a tech meltdown last year. Apparently, a platform upgrade went wrong, and they lost 10,000-15,000 enrollments. That’s…significant. Especially when your total enrollment is less than 250,000. It’s like losing a significant portion of your social circle. You notice.

But, and this is the important bit, they seem to have fixed it. Enrollments jumped 8% in the latest quarter. And they’re rolling out a new user experience. Which is promising. I bought a few shares in November, after the stock took a beating. And I’m still holding. Because, honestly, I think the long-term potential outweighs the short-term hiccups.

With only 35% of Americans satisfied with the public school system, options like Stride are only going to become more important. It’s a simple supply and demand situation, really. And I’m a sucker for a good long-term trend. Plus, they’re starting a share repurchase program, which is always a nice gesture. It suggests they believe in their own stock. Which is reassuring.

So, did Kadensa get out before the drop? I have no idea. And frankly, I don’t care. I’m focusing on the future. Because, ultimately, that’s all any of us can do. Hope for the best, prepare for the worst, and try not to panic. It’s a surprisingly effective strategy. Though, it does require a lot of tea.

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2026-03-12 19:12