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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 | |
|---|---|---|---|---|---|---|
|
ZNGA
1
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $45.2M | 7.64% |
11,500,000
| – | – |
|
|
PARA
2
CALL
DELISTED
Paramount Global Class B
PARA
| $43.7M | 7.39% |
1,000,000
| – | – |
|
|
PPLI
3
People Inc
PPLI
$3.1B
| $36.6M | 6.19% |
1,119,081
-279,771
| -20% | -$9.39M |
|
|
4
Meta Platforms (Facebook)
META
$1.51T
| $36.2M | 6.12% |
276,000
+151,000
| +121% | +$21.9M |
|
5
CALL
Papa John's
PZZA
$999M
| $35.8M | 6.06% |
900,000
-450,000
| -33% | -$22.7M |
|
6
CALL
General Motors
GM
$74.7B
| $33.5M | 5.65% |
1,000,000
-90,000
| -8% | -$3.11M |
|
|
CSOD
7
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $32.8M | 5.54% |
650,000
+59,000
| +10% | +$2.99M |
|
|
8
Netflix
NFLX
$292B
| $26.8M | 4.52% |
1,000,000
+430,000
| +75% | +$12.9M |
|
|
9
CALL
Meta Platforms (Facebook)
META
$1.51T
| $26.2M | 4.43% |
+200,000
| New | +$29M |
|
10
Live Nation Entertainment
LYV
$41.2B
| $19.9M | 3.37% |
405,000
+50,000
| +14% | +$2.64M |
|
|
HDP
11
DELISTED
Hortonworks, Inc.
HDP
| $19.5M | 3.29% |
1,350,000
+480,000
| +55% | +$8.28M |
|
12
Etsy
ETSY
$7.65B
| $19M | 3.22% |
400,000
-200,000
| -33% | -$9.41M |
|
|
13
PUT
Etsy
ETSY
$7.65B
| $19M | 3.22% |
400,000
-25,000
| -6% | -$1.18M |
|
|
14
General Motors
GM
$74.7B
| $16.7M | 2.83% |
500,000
-260,000
| -34% | -$8.97M |
|
|
15
Madison Square Garden
MSGS
$9.54B
| $14.7M | 2.49% |
+77,110
| New | +$15M |
|
16
New York Times
NYT
$11.6B
| $14.7M | 2.49% |
660,000
| – | – |
|
|
17
CALL
XPO
XPO
$25B
| $14.3M | 2.41% |
+722,849
| New | +$20M |
|
|
ATVI
18
CALL
DELISTED
Activision Blizzard
ATVI
| $14M | 2.36% |
+300,000
| New | +$18M |
|
19
PUT
Home Depot
HD
$332B
| $13.7M | 2.32% |
+80,000
| New | +$14.3M |
|
20
PUT
Urban Outfitters
URBN
$5.99B
| $11.6M | 1.96% |
+350,000
| New | +$13.1M |
|
21
PUT
Ford
F
$57.3B
| $11.5M | 1.94% |
1,500,000
| – | – |
|
|
22
SiriusXM
SIRI
$10B
| $11.4M | 1.93% |
+200,000
| New | +$12.2M |
|
|
ZNGA
23
CALL
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $9.82M | 1.66% |
2,500,000
-4,000,000
| -62% | -$15.1M |
|
|
SNBR
24
PUT
DELISTED
Sleep Number
SNBR
| $9.52M | 1.61% |
+300,000
| New | +$10.6M |
|
|
WWE
25
DELISTED
World Wrestling Entertainment
WWE
| $8.97M | 1.52% |
+120,000
| New | +$9.01M |
|
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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.