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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
+10.67%
1 Year Est. Return
+94.03%
3 Year Est. Return
+264.8%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$916M
AUM Growth
+$78.5M
(+9.4%)
Cap. Flow
+$54.7M
Cap. Flow
% of AUM
5.97%
Top 10 Holdings %
Top 10 Hldgs %
49.77%
Holding
61
New
22
Increased
7
Reduced
15
Closed
15
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$20.7M |
| 2 |
PARA
Paramount Global Class B
PARA
|
+$19.3M |
| 3 |
New York Times
NYT
|
+$15.8M |
| 4 |
P
Pandora Media Inc
P
|
+$15M |
| 5 |
CSOD
Cornerstone OnDemand, Inc.
CSOD
|
+$10.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$38M |
| 2 |
Cintas
CTAS
|
+$35M |
| 3 |
Etsy
ETSY
|
+$29.9M |
| 4 |
Spotify
SPOT
|
+$25.4M |
| 5 |
General Motors
GM
|
+$17.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 19.01% |
| 2 | Technology | 9.98% |
| 3 | Consumer Discretionary | 9.19% |
| 4 | Industrials | 6.61% |
| 5 | Materials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Dycom Industries
DY
$12B
| $14.8M | 1.62% |
175,000
-125,000
| -42% | -$10.8M |
|
27
PUT
FedEx
FDX
$72.7B
| $14.4M | 1.58% |
+60,000
| New | +$14.5M |
|
28
PUT
Ford
F
$58.5B
| $13.9M | 1.52% |
1,500,000
-500,000
| -25% | -$5M |
|
29
PUT
Zillow
Z
$7.79B
| $13.5M | 1.47% |
+305,000
| New | +$15.9M |
|
30
PUT
Expeditors International
EXPD
$22B
| $11M | 1.2% |
+150,000
| New | +$11.1M |
|
|
GAP
31
PUT
The Gap Inc
GAP
$7.23B
| $10.1M | 1.1% |
+350,000
| New | +$10.5M |
|
32
CALL
SiriusXM
SIRI
$9.98B
| $9.48M | 1.04% |
+150,000
| New | +$10.4M |
|
33
Advance Auto Parts
AAP
$3.35B
| $8.75M | 0.96% |
+52,000
| New | +$7.99M |
|
|
CZR
34
DELISTED
Caesars Entertainment Corporation
CZR
| $8.51M | 0.93% |
+830,000
| New | +$8.73M |
|
35
PUT
Teradata
TDC
$2.92B
| $7.54M | 0.82% |
200,000
+100,000
| +100% | +$4.03M |
|
|
WW
36
CALL
DELISTED
WW International
WW
| $7.2M | 0.79% |
100,000
-150,000
| -60% | -$12.2M |
|
|
WW
37
DELISTED
WW International
WW
| $6.12M | 0.67% |
+85,000
| New | +$6.9M |
|
38
Match Group
MTCH
$9.19B
| $5.79M | 0.63% |
100,000
-80,000
| -44% | -$3.75M |
|
|
HDP
39
PUT
DELISTED
Hortonworks, Inc.
HDP
| $5.7M | 0.62% |
+250,000
| New | +$5.21M |
|
|
VNE
40
CALL
DELISTED
Veoneer, Inc.
VNE
| $4.41M | 0.48% |
+80,000
| New | +$4.11M |
|
41
Aptiv
APTV
$12B
| $4.36M | 0.48% |
52,000
-16,000
| -24% | -$1.46M |
|
|
WP
42
DELISTED
Worldpay, Inc.
WP
| $3.04M | 0.33% |
+30,000
| New | +$2.74M |
|
43
Western Digital
WDC
$188B
| $2.93M | 0.32% |
66,150
-112,455
| -63% | -$5.7M |
|
|
CHS
44
PUT
DELISTED
Chicos FAS, Inc.
CHS
| $2.6M | 0.28% |
+300,000
| New | +$2.67M |
|
|
I
45
DELISTED
INTELSAT S. A.
I
| $1.5M | 0.16% |
50,000
| – | – |
|
|
MNTV
46
DELISTED
Momentive Global Inc. Common Stock
MNTV
| $561K | 0.06% |
+35,000
| New | +$576K |
|
47
PUT
American Eagle Outfitters
AEO
$2.88B
| – | – |
-450,000
| Closed | -$10.5M |
|
48
Albemarle
ALB
$13.9B
| – | – |
-23,000
| Closed | -$2.17M |
|
49
PUT
A.O. Smith
AOS
$8.17B
| – | – |
-150,000
| Closed | -$8.87M |
|
|
50
Cintas
CTAS
$81.9B
| – | – |
-756,000
| Closed | -$35M |
|
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Black-and-white Capital's Q3 2018 Portfolio in Review
As of Q3 2018, Black-and-white Capital held 61 positions worth $916M, up 9.4% from $837M the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Black-and-white Capital deployed $54.7M of net new capital in Q3 2018, opening 22 new positions and adding to 7 existing holdings. Its largest new stake was Netflix: 570,000 shares worth $21.3M.
By sector, the portfolio is most concentrated in Communication Services at 19% of assets, up from 19% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Meta Platforms (Facebook), an estimated $38M trimmed.
- Black-and-white Capital's largest Q3 2018 buy was Netflix: 570,000 shares worth $21.3M.
- Black-and-white Capital added most to Cornerstone OnDemand, Inc. in Q3 2018, an estimated $10.8M increase.
- Black-and-white Capital's biggest Q3 2018 reduction was Meta Platforms (Facebook), cutting an estimated $38M.
- Black-and-white Capital fully exited Cintas in Q3 2018, selling an estimated $35M.
- Black-and-white Capital's ten largest holdings make up 50% of its $916M portfolio in Q3 2018.
- Black-and-white Capital opened 22 new positions and closed 15 in Q3 2018.
- Black-and-white Capital's portfolio value rose 9.4% quarter-over-quarter to $916M.
Based on Black-and-white Capital's 13F filing for Q3 2018, filed 14 Nov 2018.