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BC
Balestra Capital Portfolio holdings
AUM
$42.5M
This Fund
S&P 500
This Quarter
Est. Return
+2.37%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$617M
AUM Growth
+$274M
(+80%)
Cap. Flow
-$206M
Cap. Flow
% of AUM
-33.32%
Top 10 Holdings %
Top 10 Hldgs %
92.9%
Holding
22
New
6
Increased
2
Reduced
8
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AerCap
AER
|
+$7.48M |
| 2 |
Valero Energy
VLO
|
+$6.89M |
| 3 |
BKCC
BlackRock Capital Investment Corporation
BKCC
|
+$1.44M |
| 4 |
MidCap Financial Investment
MFIC
|
+$353K |
| 5 |
PARA
Paramount Global Class B
PARA
|
+$42.9K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Comcast
CMCSA
|
+$36.5M |
| 2 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$31.4M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$27.4M |
| 4 |
GE Aerospace
GE
|
+$24.9M |
| 5 |
The GEO Group
GEO
|
+$24.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 77% |
| 2 | Financials | 7.44% |
| 3 | Communication Services | 6.29% |
| 4 | Industrials | 5.06% |
| 5 | Energy | 2.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$808B
| $215M | 34.87% |
+1,100,000
| New | +$209M |
|
|
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$808B
| $196M | 31.7% |
+1,000,000
| New | +$190M |
|
3
CALL
iShares Russell 2000 ETF
IWM
$78.5B
| $63.9M | 10.35% |
+540,000
| New | +$61.3M |
|
|
4
MidCap Financial Investment
MFIC
$745M
| $23.9M | 3.87% |
924,977
+14,310
| +2% | +$353K |
|
5
Oaktree Specialty Lending
OCSL
$1.12B
| $20.5M | 3.33% |
696,613
-443,522
| -39% | -$12.5M |
|
6
Boeing
BA
$166B
| $12M | 1.95% |
94,652
-155,348
| -62% | -$20.3M |
|
|
7
GE Aerospace
GE
$336B
| $11.5M | 1.86% |
91,018
-195,892
| -68% | -$24.9M |
|
|
8
Comcast
CMCSA
$89.4B
| $10.7M | 1.74% |
400,000
-1,420,000
| -78% | -$36.5M |
|
|
TFCFA
9
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $10.3M | 1.66% |
292,100
-922,900
| -76% | -$31.4M |
|
10
eBay
EBAY
$47.9B
| $9.76M | 1.58% |
463,320
-487,080
| -51% | -$10.6M |
|
|
YHOO
11
DELISTED
Yahoo Inc
YHOO
| $9.74M | 1.58% |
277,411
-272,589
| -50% | -$9.52M |
|
|
PARA
12
DELISTED
Paramount Global Class B
PARA
| $9.05M | 1.47% |
145,700
+720
| +0.5% | +$42.9K |
|
|
13
Alphabet (Google) Class C
GOOG
$4.1T
| $8.77M | 1.42% |
305,837
-1,009,073
| -77% | -$27.4M |
|
|
14
AerCap
AER
$22.2B
| $7.75M | 1.26% |
+169,224
| New | +$7.48M |
|
|
15
Valero Energy
VLO
$112B
| $6.26M | 1.01% |
+125,000
| New | +$6.89M |
|
|
BKCC
16
DELISTED
BlackRock Capital Investment Corporation
BKCC
| $1.48M | 0.24% |
+162,803
| New | +$1.44M |
|
17
SPDR Gold Trust
GLD
$147B
| $320K | 0.05% |
2,500
| – | – |
|
18
Vanguard High Dividend Yield ETF
VYM
$82.7B
| $225K | 0.04% |
3,400
| – | – |
|
19
Chevron
CVX
$420B
| $222K | 0.04% |
1,700
| – | – |
|
|
20
CALL
eBay
EBAY
$47.9B
| – | – |
-950,400
| Closed | -$536K |
|
|
21
The GEO Group
GEO
$4.14B
| – | – |
-1,141,508
| Closed | -$24.5M |
|
22
General Motors
GM
$75.1B
| – | – |
-707,325
| Closed | -$24.3M |
|
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Balestra Capital's Q2 2014 Portfolio in Review
As of Q2 2014, Balestra Capital held 22 positions worth $617M, up 80% from $344M the previous quarter. Its ten largest holdings account for 93% of the portfolio.
Balestra Capital withdrew a net $206M in Q2 2014, closing 3 positions and reducing 8 holdings. Its most notable exit was The GEO Group, an estimated $24.5M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 77% of assets, up from 0.31% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Balestra Capital opened a new position in AerCap worth $7.75M.
- Balestra Capital's largest Q2 2014 buy was AerCap: 169,224 shares worth $7.75M.
- Balestra Capital added most to MidCap Financial Investment in Q2 2014, an estimated $353K increase.
- Balestra Capital's biggest Q2 2014 reduction was Comcast, cutting an estimated $36.5M.
- Balestra Capital fully exited The GEO Group in Q2 2014, selling an estimated $24.5M.
- Balestra Capital's ten largest holdings make up 93% of its $617M portfolio in Q2 2014.
- Balestra Capital opened 6 new positions and closed 3 in Q2 2014.
- Balestra Capital's portfolio value rose 80% quarter-over-quarter to $617M.
Based on Balestra Capital's 13F filing for Q2 2014, filed 1 Aug 2014.