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BC
Balestra Capital Portfolio holdings
AUM
$42.5M
This Fund
S&P 500
This Quarter
Est. Return
+0.57%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$311M
AUM Growth
-$58.9M
(-16%)
Cap. Flow
-$62.8M
Cap. Flow
% of AUM
-20.22%
Top 10 Holdings %
Top 10 Hldgs %
99.12%
Holding
20
New
5
Increased
5
Reduced
1
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CoreCivic
CXW
|
+$36.9M |
| 2 |
Expedia Group
EXPE
|
+$36.9M |
| 3 |
The GEO Group
GEO
|
+$28M |
| 4 |
MidCap Financial Investment
MFIC
|
+$10.6M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$8.87M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$37.2M |
| 2 |
Western Union
WU
|
+$35.2M |
| 3 |
RTN
Raytheon Company
RTN
|
+$34.7M |
| 4 |
General Dynamics
GD
|
+$33.8M |
| 5 |
Oracle
ORCL
|
+$30.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 30.52% |
| 2 | Industrials | 21.15% |
| 3 | Technology | 11.71% |
| 4 | Consumer Discretionary | 11.5% |
| 5 | Financials | 10.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Comcast
CMCSA
$79.1B
| $53.6M | 17.25% |
2,376,332
+400,000
| +20% | +$8.71M |
|
|
2
Alphabet (Google) Class C
GOOG
$3.9T
| $41.3M | 13.27% |
1,891,062
+401,500
| +27% | +$8.87M |
|
|
3
CoreCivic
CXW
$3.1B
| $38M | 12.24% |
+1,100,743
| New | +$36.9M |
|
4
SAP
SAP
$187B
| $36.4M | 11.71% |
492,194
| – | – |
|
|
5
Expedia Group
EXPE
$31.2B
| $35.7M | 11.5% |
+690,000
| New | +$36.9M |
|
6
Philip Morris
PM
$301B
| $29.8M | 9.59% |
344,237
-100,000
| -23% | -$8.74M |
|
|
7
The GEO Group
GEO
$4.13B
| $27.7M | 8.91% |
+1,249,733
| New | +$28M |
|
|
8
MidCap Financial Investment
MFIC
$784M
| $26.9M | 8.65% |
1,099,514
+435,166
| +66% | +$10.6M |
|
9
Blackstone Mortgage Trust
BXMT
$2.82B
| $12.3M | 3.96% |
488,123
+72,260
| +17% | +$1.84M |
|
10
Ares Capital
ARCC
$13.5B
| $6.37M | 2.05% |
+368,426
| New | +$6.45M |
|
11
SPDR Gold Trust
GLD
$131B
| $2.33M | 0.75% |
20,000
+15,000
| +300% | +$1.93M |
|
12
Chevron
CVX
$388B
| $207K | 0.07% |
1,700
| – | – |
|
13
iShares MSCI Emerging Markets ETF
EEM
$28B
| $200K | 0.06% |
+20,000
| New | +$792K |
|
|
14
CALL
iShares MSCI Emerging Markets ETF
EEM
$28B
| – | – |
-61,364
| Closed | -$2.7M |
|
|
15
General Dynamics
GD
$105B
| – | – |
-431,171
| Closed | -$33.8M |
|
|
16
Microsoft
MSFT
$2.84T
| – | – |
-1,078,220
| Closed | -$37.2M |
|
|
17
Oracle
ORCL
$331B
| – | – |
-1,000,000
| Closed | -$30.7M |
|
18
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| – | – |
-55,650
| Closed | -$20.6M |
|
|
19
Western Union
WU
$2.57B
| – | – |
-2,060,133
| Closed | -$35.2M |
|
|
RTN
20
DELISTED
Raytheon Company
RTN
| – | – |
-525,000
| Closed | -$34.7M |
|
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Balestra Capital's Q3 2013 Portfolio in Review
As of Q3 2013, Balestra Capital held 20 positions worth $311M, down 16% from $370M the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Balestra Capital withdrew a net $62.8M in Q3 2013, closing 7 positions and reducing 1 holding. Its most notable exit was Microsoft, an estimated $37.2M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 31% of assets, up from 20% a quarter earlier, followed by Industrials and Technology.
Against the trend, Balestra Capital opened a new position in CoreCivic worth $38M.
- Balestra Capital's largest Q3 2013 buy was CoreCivic: 1,100,743 shares worth $38M.
- Balestra Capital added most to MidCap Financial Investment in Q3 2013, an estimated $10.6M increase.
- Balestra Capital's biggest Q3 2013 reduction was Philip Morris, cutting an estimated $8.74M.
- Balestra Capital fully exited Microsoft in Q3 2013, selling an estimated $37.2M.
- Balestra Capital's ten largest holdings make up 99% of its $311M portfolio in Q3 2013.
- Balestra Capital opened 5 new positions and closed 7 in Q3 2013.
- Balestra Capital's portfolio value fell 16% quarter-over-quarter to $311M.
Based on Balestra Capital's 13F filing for Q3 2013, filed 7 Nov 2013.