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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
-14.77%
1 Year Est. Return
+94.03%
3 Year Est. Return
+264.8%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$592M
AUM Growth
-$324M
(-35%)
Cap. Flow
-$203M
Cap. Flow
% of AUM
-34.23%
Top 10 Holdings %
Top 10 Hldgs %
56.91%
Holding
58
New
12
Increased
5
Reduced
12
Closed
22
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$21.9M |
| 2 |
Madison Square Garden
MSGS
|
+$15M |
| 3 |
Netflix
NFLX
|
+$12.9M |
| 4 |
SiriusXM
SIRI
|
+$12.2M |
| 5 |
WWE
World Wrestling Entertainment
WWE
|
+$9.01M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
XPO
XPO
|
+$28.4M |
| 2 |
Dycom Industries
DY
|
+$14.8M |
| 3 |
PARA
Paramount Global Class B
PARA
|
+$14.6M |
| 4 |
ATVI
Activision Blizzard
ATVI
|
+$11.7M |
| 5 |
P
Pandora Media Inc
P
|
+$10.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 30.72% |
| 2 | Technology | 12.37% |
| 3 | Consumer Discretionary | 8.33% |
| 4 | Industrials | 0.44% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Advance Auto Parts
AAP
$3.35B
| $7.87M | 1.33% |
50,000
-2,000
| -4% | -$334K |
|
|
CZR
27
DELISTED
Caesars Entertainment Corporation
CZR
| $5.64M | 0.95% |
830,000
| – | – |
|
28
Domo
DOMO
$174M
| $5.01M | 0.85% |
+255,000
| New | +$4.5M |
|
|
P
29
DELISTED
Pandora Media Inc
P
| $4.85M | 0.82% |
600,000
-1,180,000
| -66% | -$10.2M |
|
30
PUT
Children's Place
PLCE
$54.3M
| $4.5M | 0.76% |
+50,000
| New | +$6.23M |
|
31
Match Group
MTCH
$9.19B
| $4.28M | 0.72% |
100,000
| – | – |
|
32
PUT
Signet Jewelers
SIG
$3.61B
| $3.81M | 0.64% |
+120,000
| New | +$6.02M |
|
|
ATVI
33
DELISTED
Activision Blizzard
ATVI
| $3.49M | 0.59% |
75,000
-195,000
| -72% | -$11.7M |
|
|
PARA
34
DELISTED
Paramount Global Class B
PARA
| $3.28M | 0.55% |
75,000
-275,000
| -79% | -$14.6M |
|
|
35
XPO
XPO
$23.6B
| $2.62M | 0.44% |
133,004
-1,023,554
| -89% | -$28.4M |
|
|
I
36
DELISTED
INTELSAT S. A.
I
| $1.07M | 0.18% |
50,000
| – | – |
|
37
Aptiv
APTV
$12B
| – | – |
-52,000
| Closed | -$4.36M |
|
|
38
Dycom Industries
DY
$12B
| – | – |
-175,000
| Closed | -$14.8M |
|
39
PUT
Expeditors International
EXPD
$22B
| – | – |
-150,000
| Closed | -$11M |
|
40
PUT
FedEx
FDX
$72.7B
| – | – |
-60,000
| Closed | -$14.4M |
|
|
PPLI
41
PUT
People Inc
PPLI
$3.09B
| – | – |
-811,334
| Closed | -$31.4M |
|
42
PUT
iShares Russell 2000 ETF
IWM
$79.8B
| – | – |
-300,000
| Closed | -$50.6M |
|
|
43
PUT
Meta Platforms (Facebook)
META
$1.42T
| – | – |
-110,000
| Closed | -$18.1M |
|
|
44
PUT
Netflix
NFLX
$299B
| – | – |
-418,000
| Closed | -$15.6M |
|
|
45
CALL
SiriusXM
SIRI
$9.97B
| – | – |
-150,000
| Closed | -$9.48M |
|
46
PUT
Teradata
TDC
$2.92B
| – | – |
-200,000
| Closed | -$7.54M |
|
47
CALL
Western Digital
WDC
$188B
| – | – |
-529,200
| Closed | -$23.4M |
|
|
48
Western Digital
WDC
$188B
| – | – |
-66,150
| Closed | -$2.93M |
|
|
WW
49
CALL
DELISTED
WW International
WW
| – | – |
-100,000
| Closed | -$7.2M |
|
|
WW
50
DELISTED
WW International
WW
| – | – |
-85,000
| Closed | -$6.12M |
|
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Black-and-white Capital's Q4 2018 Portfolio in Review
As of Q4 2018, Black-and-white Capital held 58 positions worth $592M, down 35% from $916M the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Black-and-white Capital withdrew a net $203M in Q4 2018, closing 22 positions and reducing 12 holdings. Its most notable exit was Dycom Industries, an estimated $14.8M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 31% of assets, up from 19% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Black-and-white Capital opened a new position in Madison Square Garden worth $14.7M.
- Black-and-white Capital's largest Q4 2018 buy was Madison Square Garden: 77,110 shares worth $14.7M.
- Black-and-white Capital added most to Meta Platforms (Facebook) in Q4 2018, an estimated $21.9M increase.
- Black-and-white Capital's biggest Q4 2018 reduction was XPO, cutting an estimated $28.4M.
- Black-and-white Capital fully exited Dycom Industries in Q4 2018, selling an estimated $14.8M.
- Black-and-white Capital's ten largest holdings make up 57% of its $592M portfolio in Q4 2018.
- Black-and-white Capital opened 12 new positions and closed 22 in Q4 2018.
- Black-and-white Capital's portfolio value fell 35% quarter-over-quarter to $592M.
Based on Black-and-white Capital's 13F filing for Q4 2018, filed 14 Feb 2019.