<SEC-DOCUMENT>0001420506-24-000865.txt : 20240514
<SEC-HEADER>0001420506-24-000865.hdr.sgml : 20240514
<ACCEPTANCE-DATETIME>20240514161052
ACCESSION NUMBER:		0001420506-24-000865
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240331
FILED AS OF DATE:		20240514
DATE AS OF CHANGE:		20240514
EFFECTIVENESS DATE:		20240514

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RDST Capital LLC
		CENTRAL INDEX KEY:			0001912187
		ORGANIZATION NAME:           	
		IRS NUMBER:				813168257
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-22317
		FILM NUMBER:		24944439

	BUSINESS ADDRESS:	
		STREET 1:		1700 WESTLAKE AVE N
		STREET 2:		SUITE 200
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98109
		BUSINESS PHONE:		206 332-1227

	MAIL ADDRESS:	
		STREET 1:		1700 WESTLAKE AVE N
		STREET 2:		SUITE 200
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98109
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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        <credentials>
          <cik>0001912187</cik>
          <ccc>XXXXXXXX</ccc>
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      <periodOfReport>03-31-2024</periodOfReport>
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      <reportCalendarOrQuarter>03-31-2024</reportCalendarOrQuarter>
      <!--Amendment-->
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      <!--Institutional Investment Manager-->
      <filingManager>
        <name>RDST Capital LLC</name>
        <address>
          <ns1:street1>1700 WESTLAKE AVE N</ns1:street1>
          <ns1:street2>SUITE 200</ns1:street2>
          <ns1:city>SEATTLE</ns1:city>
          <ns1:stateOrCountry>WA</ns1:stateOrCountry>
          <ns1:zipCode>98109</ns1:zipCode>
        </address>
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    <signatureBlock>
      <name>Brian D. Pirie</name>
      <title>Managing Member</title>
      <phone>206 332-1227</phone>
      <signature>Brian D. Pirie, Managing Member</signature>
      <city>SEATTLE</city>
      <stateOrCountry>WA</stateOrCountry>
      <signatureDate>05-14-2024</signatureDate>
    </signatureBlock>
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      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>18</tableEntryTotal>
      <tableValueTotal>402191849</tableValueTotal>
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<DOCUMENT>
<TYPE>INFORMATION TABLE
<SEQUENCE>2
<FILENAME>Form13F_InfoTable.xml
<DESCRIPTION>INFORMATION TABLE FOR RDST CAPITAL LLC (7472)
<TEXT>
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	<infoTable>
		<nameOfIssuer>ALPHABET INC</nameOfIssuer>
		<titleOfClass>CAP STK CL A</titleOfClass>
		<cusip>02079K305</cusip>
		<value>20879656</value>
		<shrsOrPrnAmt>
			<sshPrnamt>138340</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>107130</Sole>
			<Shared>0</Shared>
			<None>31210</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>AMAZON COM INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>023135106</cusip>
		<value>5355482</value>
		<shrsOrPrnAmt>
			<sshPrnamt>29690</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>22620</Sole>
			<Shared>0</Shared>
			<None>7070</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>AMERICOLD REALTY TRUST INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>03064D108</cusip>
		<value>37268109</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1495510</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1158115</Sole>
			<Shared>0</Shared>
			<None>337395</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>APOLLO GLOBAL MGMT INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>03769M106</cusip>
		<value>34537331</value>
		<shrsOrPrnAmt>
			<sshPrnamt>307135</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>237955</Sole>
			<Shared>0</Shared>
			<None>69180</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ARES MANAGEMENT CORPORATION</nameOfIssuer>
		<titleOfClass>CL A COM STK</titleOfClass>
		<cusip>03990B101</cusip>
		<value>10092517</value>
		<shrsOrPrnAmt>
			<sshPrnamt>75895</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>58800</Sole>
			<Shared>0</Shared>
			<None>17095</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>BLUE OWL CAPITAL INC</nameOfIssuer>
		<titleOfClass>COM CL A</titleOfClass>
		<cusip>09581B103</cusip>
		<value>32231646</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1708995</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1322095</Sole>
			<Shared>0</Shared>
			<None>386900</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>DUCOMMUN INC DEL</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>264147109</cusip>
		<value>23736254</value>
		<shrsOrPrnAmt>
			<sshPrnamt>462695</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>354900</Sole>
			<Shared>0</Shared>
			<None>107795</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ENTEGRIS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>29362U104</cusip>
		<value>8722615</value>
		<shrsOrPrnAmt>
			<sshPrnamt>62065</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>48180</Sole>
			<Shared>0</Shared>
			<None>13885</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>GALLAGHER ARTHUR J &amp; CO</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>363576109</cusip>
		<value>33880420</value>
		<shrsOrPrnAmt>
			<sshPrnamt>135500</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>104930</Sole>
			<Shared>0</Shared>
			<None>30570</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MASTERCARD INCORPORATED</nameOfIssuer>
		<titleOfClass>CL A</titleOfClass>
		<cusip>57636Q104</cusip>
		<value>2489717</value>
		<shrsOrPrnAmt>
			<sshPrnamt>5170</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>3940</Sole>
			<Shared>0</Shared>
			<None>1230</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>594918104</cusip>
		<value>39469847</value>
		<shrsOrPrnAmt>
			<sshPrnamt>93815</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>72650</Sole>
			<Shared>0</Shared>
			<None>21165</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>RESTAURANT BRANDS INTL INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>76131D103</cusip>
		<value>41796341</value>
		<shrsOrPrnAmt>
			<sshPrnamt>526071</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>407386</Sole>
			<Shared>0</Shared>
			<None>118685</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>RTX CORPORATION</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>75513E101</cusip>
		<value>32167832</value>
		<shrsOrPrnAmt>
			<sshPrnamt>329825</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>255415</Sole>
			<Shared>0</Shared>
			<None>74410</None>
		</votingAuthority>
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		<nameOfIssuer>SALESFORCE INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>79466L302</cusip>
		<value>28801843</value>
		<shrsOrPrnAmt>
			<sshPrnamt>95630</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>74055</Sole>
			<Shared>0</Shared>
			<None>21575</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>SHERWIN WILLIAMS CO</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>824348106</cusip>
		<value>11453207</value>
		<shrsOrPrnAmt>
			<sshPrnamt>32975</sshPrnamt>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>25125</Sole>
			<Shared>0</Shared>
			<None>7850</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer>
		<titleOfClass>TR UNIT</titleOfClass>
		<cusip>78462F103</cusip>
		<value>4446095</value>
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			<sshPrnamt>8500</sshPrnamt>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>8500</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>UNION PAC CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>907818108</cusip>
		<value>32648437</value>
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			<sshPrnamt>132755</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>102805</Sole>
			<Shared>0</Shared>
			<None>29950</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>VISA INC</nameOfIssuer>
		<titleOfClass>COM CL A</titleOfClass>
		<cusip>92826C839</cusip>
		<value>2214500</value>
		<shrsOrPrnAmt>
			<sshPrnamt>7935</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>6045</Sole>
			<Shared>0</Shared>
			<None>1890</None>
		</votingAuthority>
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</SEC-DOCUMENT>