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BAWC
Black-and-white Capital Portfolio holdings
AUM
$967M
1-Year Est. Return
94.03%
This Fund
S&P 500
This Quarter
Est. Return
+12.06%
1 Year Est. Return
+94.03%
3 Year Est. Return
+264.8%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$837M
AUM Growth
+$202M
(+32%)
Cap. Flow
-$45.4M
Cap. Flow
% of AUM
-5.42%
Top 10 Holdings %
Top 10 Hldgs %
52.4%
Holding
51
New
19
Increased
10
Reduced
10
Closed
12
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Spotify
SPOT
|
+$24.1M |
| 2 |
PPLI
People Inc
PPLI
|
+$22.7M |
| 3 |
ZNGA
ZYNGA INC. CL A COMMON
ZNGA
|
+$18.8M |
| 4 |
General Motors
GM
|
+$15.6M |
| 5 |
Aptiv
APTV
|
+$6.34M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Etsy
ETSY
|
+$29.3M |
| 2 |
Domino's
DPZ
|
+$28.6M |
| 3 |
Western Digital
WDC
|
+$28.2M |
| 4 |
Micron Technology
MU
|
+$14.1M |
| 5 |
Dycom Industries
DY
|
+$10.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 40.75% |
| 2 | Communication Services | 18.92% |
| 3 | Technology | 14.35% |
| 4 | Consumer Discretionary | 13.24% |
| 5 | Industrials | 12.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Western Digital
WDC
$150B
| $10.4M | 1.25% |
178,605
-443,205
| -71% | -$28.2M |
|
27
CALL
XPO
XPO
$20.4B
| $10M | 1.2% |
289,139
-289,140
| -50% | -$10.5M |
|
28
PUT
NetApp
NTAP
$37.6B
| $9.42M | 1.13% |
+120,000
| New | +$8.44M |
|
29
PUT
A.O. Smith
AOS
$7.73B
| $8.87M | 1.06% |
+150,000
| New | +$9.45M |
|
|
HDP
30
CALL
DELISTED
Hortonworks, Inc.
HDP
| $7.29M | 0.87% |
400,000
+372,500
| +1,355% | +$6.7M |
|
31
Match Group
MTCH
$10B
| $6.97M | 0.83% |
180,000
+50,000
| +38% | +$2.1M |
|
|
32
Aptiv
APTV
$9B
| $6.23M | 0.74% |
+68,000
| New | +$6.34M |
|
33
PUT
Fastenal
FAST
$56.3B
| $5.78M | 0.69% |
+480,000
| New | +$6.21M |
|
34
PUT
Kroger
KR
$36.4B
| $5.69M | 0.68% |
+200,000
| New | +$5.03M |
|
35
PUT
Teradata
TDC
$2.71B
| $4.01M | 0.48% |
+100,000
| New | +$4.03M |
|
|
36
Domino's
DPZ
$9.97B
| $2.82M | 0.34% |
10,000
-113,000
| -92% | -$28.6M |
|
37
Albemarle
ALB
$12.9B
| $2.17M | 0.26% |
23,000
-29,000
| -56% | -$2.78M |
|
|
SMAR
38
DELISTED
Smartsheet Inc.
SMAR
| $1.3M | 0.16% |
+50,000
| New | +$1.19M |
|
|
I
39
DELISTED
INTELSAT S. A.
I
| $833K | 0.1% |
+50,000
| New | +$647K |
|
40
PUT
Adobe
ADBE
$99.6B
| – | – |
-75,000
| Closed | -$16.2M |
|
41
PUT
Bath & Body Works
BBWI
$3.37B
| – | – |
-309,250
| Closed | -$9.55M |
|
42
PUT
Cisco
CSCO
$425B
| – | – |
-300,000
| Closed | -$12.9M |
|
43
CALL
Cintas
CTAS
$79.8B
| – | – |
-400,000
| Closed | -$17.1M |
|
44
Dropbox
DBX
$8.21B
| – | – |
-45,000
| Closed | -$1.41M |
|
|
45
CALL
Dycom Industries
DY
$8.67B
| – | – |
-75,000
| Closed | -$8.07M |
|
46
CALL
Meta Platforms (Facebook)
META
$1.72T
| – | – |
-100,000
| Closed | -$16M |
|
|
47
Micron Technology
MU
$1.05T
| – | – |
-270,000
| Closed | -$14.1M |
|
|
TGNA
48
DELISTED
TEGNA Inc
TGNA
| – | – |
-455,000
| Closed | -$5.18M |
|
|
TRUE
49
CALL
DELISTED
TrueCar
TRUE
| – | – |
-200,000
| Closed | -$1.89M |
|
|
LGF.A
50
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| – | – |
-160,000
| Closed | -$4.13M |
|
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Black-and-white Capital's Q2 2018 Portfolio in Review
As of Q2 2018, Black-and-white Capital held 51 positions worth $837M, up 32% from $635M the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Black-and-white Capital withdrew a net $45.4M in Q2 2018, closing 12 positions and reducing 10 holdings. Its most notable exit was Micron Technology, an estimated $14.1M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 41% of assets, up from 21% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Black-and-white Capital opened a new position in Spotify worth $25.4M.
- Black-and-white Capital's largest Q2 2018 buy was Spotify: 151,000 shares worth $25.4M.
- Black-and-white Capital added most to People Inc in Q2 2018, an estimated $22.7M increase.
- Black-and-white Capital's biggest Q2 2018 reduction was Etsy, cutting an estimated $29.3M.
- Black-and-white Capital fully exited Micron Technology in Q2 2018, selling an estimated $14.1M.
- Black-and-white Capital's ten largest holdings make up 52% of its $837M portfolio in Q2 2018.
- Black-and-white Capital opened 19 new positions and closed 12 in Q2 2018.
- Black-and-white Capital's portfolio value rose 32% quarter-over-quarter to $837M.
Based on Black-and-white Capital's 13F filing for Q2 2018, filed 14 Aug 2018.