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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
+8.4%
1 Year Est. Return
+94.03%
3 Year Est. Return
+264.8%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.18B
AUM Growth
+$107M
(+10%)
Cap. Flow
-$62M
Cap. Flow
% of AUM
-5.26%
Top 10 Holdings %
Top 10 Hldgs %
57.51%
Holding
59
New
17
Increased
9
Reduced
11
Closed
22
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ZEN
ZENDESK INC
ZEN
|
+$28.4M |
| 2 |
Live Nation Entertainment
LYV
|
+$22.6M |
| 3 |
Netflix
NFLX
|
+$18.3M |
| 4 |
IAA
IAA, Inc. Common Stock
IAA
|
+$17.6M |
| 5 |
XPO
XPO
|
+$17M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SiriusXM
SIRI
|
+$36.8M |
| 2 |
ZNGA
ZYNGA INC. CL A COMMON
ZNGA
|
+$34.8M |
| 3 |
WWE
World Wrestling Entertainment
WWE
|
+$31.5M |
| 4 |
Madison Square Garden
MSGS
|
+$17.1M |
| 5 |
GRUB
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
|
+$14.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 53.55% |
| 2 | Communication Services | 19.79% |
| 3 | Technology | 15.34% |
| 4 | Consumer Discretionary | 7.78% |
| 5 | Industrials | 2.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
PUT
Children's Place
PLCE
$44.9M
| $12.5M | 1.06% |
200,000
+50,000
| +33% | +$3.65M |
|
27
PUT
Dick's Sporting Goods
DKS
$11B
| $11.1M | 0.94% |
+225,000
| New | +$9.57M |
|
|
28
SiriusXM
SIRI
$9.63B
| $11M | 0.93% |
153,680
-546,320
| -78% | -$36.8M |
|
|
EXPR
29
PUT
DELISTED
Express, Inc.
EXPR
| $9.74M | 0.83% |
+100,000
| New | +$7.86M |
|
|
LOGM
30
DELISTED
LogMein, Inc.
LOGM
| $9.63M | 0.82% |
+112,300
| New | +$8.33M |
|
31
Dollar Tree
DLTR
$21.1B
| $9.62M | 0.82% |
+102,300
| New | +$10.7M |
|
|
GAP
32
PUT
The Gap Inc
GAP
$7.09B
| $8.84M | 0.75% |
+500,000
| New | +$8.51M |
|
33
Marvell Technology
MRVL
$206B
| $7.89M | 0.67% |
296,900
-103,100
| -26% | -$2.61M |
|
34
MGM Resorts International
MGM
$9.66B
| $7.64M | 0.65% |
+229,600
| New | +$7M |
|
|
WWE
35
DELISTED
World Wrestling Entertainment
WWE
| $6.64M | 0.56% |
102,300
-497,700
| -83% | -$31.5M |
|
|
BBBY
36
CALL
DELISTED
Bed Bath & Beyond Inc
BBBY
| $3.46M | 0.29% |
200,000
-100,000
| -33% | -$1.4M |
|
37
Urban Outfitters
URBN
$6.6B
| $2.78M | 0.24% |
+100,000
| New | +$2.78M |
|
38
PUT
Amazon
AMZN
$2.65T
| – | – |
-1,000,000
| Closed | -$86.8M |
|
39
BorgWarner
BWA
$12.7B
| – | – |
-340,800
| Closed | -$11M |
|
40
Chegg
CHGG
$81.5M
| – | – |
-200,000
| Closed | -$5.99M |
|
41
Dropbox
DBX
$8.21B
| – | – |
-300,000
| Closed | -$6.05M |
|
42
PUT
Meta Platforms (Facebook)
META
$1.72T
| – | – |
-500,000
| Closed | -$89M |
|
|
43
Madison Square Garden
MSGS
$9.48B
| – | – |
-91,130
| Closed | -$17.1M |
|
44
CALL
Match Group
MTCH
$10B
| – | – |
-150,000
| Closed | -$10.7M |
|
45
New York Times
NYT
$11.7B
| – | – |
-400,000
| Closed | -$11.4M |
|
|
P
46
Everpure Inc
P
$32.5B
| – | – |
-370,000
| Closed | -$6.27M |
|
47
CALL
Roku
ROKU
$23B
| – | – |
-100,000
| Closed | -$10.2M |
|
|
SFIX
48
PUT
Stitch Fix
SFIX
$388M
| – | – |
-300,000
| Closed | -$5.78M |
|
49
PUT
Signet Jewelers
SIG
$3.94B
| – | – |
-400,000
| Closed | -$6.7M |
|
50
CALL
Snap
SNAP
$9.67B
| – | – |
-1,500,000
| Closed | -$23.7M |
|
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Black-and-white Capital's Q4 2019 Portfolio in Review
As of Q4 2019, Black-and-white Capital held 59 positions worth $1.18B, up 10% from $1.07B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Black-and-white Capital withdrew a net $62M in Q4 2019, closing 22 positions and reducing 11 holdings. Its most notable exit was Madison Square Garden, an estimated $17.1M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 54% of assets, up from 47% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Black-and-white Capital opened a new position in Live Nation Entertainment worth $23.8M.
- Black-and-white Capital's largest Q4 2019 buy was Live Nation Entertainment: 333,100 shares worth $23.8M.
- Black-and-white Capital added most to ZENDESK INC in Q4 2019, an estimated $28.4M increase.
- Black-and-white Capital's biggest Q4 2019 reduction was SiriusXM, cutting an estimated $36.8M.
- Black-and-white Capital fully exited Madison Square Garden in Q4 2019, selling an estimated $17.1M.
- Black-and-white Capital's ten largest holdings make up 58% of its $1.18B portfolio in Q4 2019.
- Black-and-white Capital opened 17 new positions and closed 22 in Q4 2019.
- Black-and-white Capital's portfolio value rose 10% quarter-over-quarter to $1.18B.
Based on Black-and-white Capital's 13F filing for Q4 2019, filed 14 Feb 2020.