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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
+$146M
Cap. Flow
% of AUM
17.48%
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 | Communication Services | 18.82% |
| 2 | Consumer Discretionary | 13.24% |
| 3 | Industrials | 12.47% |
| 4 | Technology | 12.14% |
| 5 | Materials | 0.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Meta Platforms (Facebook)
META
$1.51T
| $65.1M | 7.78% |
335,000
+20,000
| +6% | +$3.61M |
|
|
2
Etsy
ETSY
$7.65B
| $52.7M | 6.3% |
1,250,000
-900,000
| -42% | -$29.3M |
|
|
3
General Motors
GM
$74.7B
| $49.1M | 5.86% |
1,245,000
+395,000
| +46% | +$15.6M |
|
|
PPLI
4
People Inc
PPLI
$3.1B
| $47M | 5.61% |
1,723,386
+828,121
| +93% | +$22.7M |
|
|
ZNGA
5
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $44.8M | 5.35% |
11,000,000
+4,800,000
| +77% | +$18.8M |
|
6
XPO
XPO
$25B
| $41.1M | 4.91% |
1,185,472
-159,026
| -12% | -$5.77M |
|
7
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $40.9M | 4.89% |
+250,000
| New | +$40M |
|
8
Cintas
CTAS
$82.4B
| $35M | 4.18% |
756,000
-64,000
| -8% | -$2.88M |
|
|
9
CALL
General Motors
GM
$74.7B
| $31.5M | 3.77% |
+800,000
| New | +$31.5M |
|
10
CALL
Walt Disney
DIS
$165B
| $31.4M | 3.76% |
+300,000
| New | +$30.7M |
|
|
11
CALL
Western Digital
WDC
$179B
| $31M | 3.7% |
529,200
+396,900
| +300% | +$25.3M |
|
|
12
Dycom Industries
DY
$12.9B
| $28.4M | 3.39% |
300,000
-100,000
| -25% | -$10.2M |
|
|
ATVI
13
DELISTED
Activision Blizzard
ATVI
| $25.6M | 3.05% |
335,000
-105,000
| -24% | -$7.43M |
|
|
14
Spotify
SPOT
$99.2B
| $25.4M | 3.04% |
+151,000
| New | +$24.1M |
|
|
WW
15
CALL
DELISTED
WW International
WW
| $25.3M | 3.02% |
+250,000
| New | +$19.6M |
|
16
PUT
Netflix
NFLX
$292B
| $23.5M | 2.81% |
+600,000
| New | +$20.5M |
|
17
PUT
Ford
F
$57.3B
| $22.1M | 2.65% |
+2,000,000
| New | +$22.9M |
|
|
18
PUT
Etsy
ETSY
$7.65B
| $21.1M | 2.52% |
+500,000
| New | +$16.3M |
|
|
HDP
19
DELISTED
Hortonworks, Inc.
HDP
| $19.5M | 2.33% |
1,070,000
+220,000
| +26% | +$3.95M |
|
|
CSOD
20
CALL
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $19M | 2.27% |
+400,000
| New | +$18.7M |
|
|
CSOD
21
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $18.5M | 2.22% |
391,000
-159,000
| -29% | -$7.42M |
|
|
ZNGA
22
CALL
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $18.3M | 2.19% |
4,500,000
+2,500,000
| +125% | +$9.81M |
|
23
PUT
VanEck Semiconductor ETF
SMH
$67.6B
| $15.4M | 1.84% |
+300,000
| New | +$15.7M |
|
24
Live Nation Entertainment
LYV
$41.2B
| $13.1M | 1.57% |
270,000
+70,000
| +35% | +$3M |
|
25
PUT
American Eagle Outfitters
AEO
$2.85B
| $10.5M | 1.25% |
+450,000
| New | +$9.98M |
|
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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 deployed $146M of net new capital in Q2 2018, opening 19 new positions and adding to 10 existing holdings. Its largest new stake was Spotify: 151,000 shares worth $25.4M.
By sector, the portfolio is most concentrated in Communication Services at 19% of assets, up from 16% a quarter earlier, followed by Consumer Discretionary and Industrials.
On the sell side, the largest reduction was Etsy, an estimated $29.3M trimmed.
- 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.