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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
-10.26%
1 Year Est. Return
+94.03%
3 Year Est. Return
+264.8%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.19B
AUM Growth
+$12.1M
(+1%)
Cap. Flow
+$306M
Cap. Flow
% of AUM
25.72%
Top 10 Holdings %
Top 10 Hldgs %
43.65%
Holding
85
New
48
Increased
12
Reduced
5
Closed
20
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Elastic
ESTC
|
+$38.9M |
| 2 |
Walt Disney
DIS
|
+$37.7M |
| 3 |
CrowdStrike
CRWD
|
+$31.4M |
| 4 |
Uber
UBER
|
+$31.3M |
| 5 |
Live Nation Entertainment
LYV
|
+$27.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Snap
SNAP
|
+$46.3M |
| 2 |
AVLR
Avalara, Inc.
AVLR
|
+$44.4M |
| 3 |
Match Group
MTCH
|
+$39.5M |
| 4 |
Meta Platforms (Facebook)
META
|
+$32.7M |
| 5 |
General Motors
GM
|
+$27.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.33% |
| 2 | Communication Services | 12.81% |
| 3 | Consumer Discretionary | 5.27% |
| 4 | Industrials | 1.67% |
| 5 | Real Estate | 0.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$781B
| $90.2M | 7.57% |
+350,000
| New | +$107M |
|
2
PUT
Apple
AAPL
$4.89T
| $76.3M | 6.4% |
1,200,000
+200,000
| +20% | +$14.7M |
|
|
3
Walt Disney
DIS
$165B
| $56.2M | 4.72% |
582,125
+298,325
| +105% | +$37.7M |
|
|
ZNGA
4
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $55.1M | 4.62% |
8,037,300
+157,300
| +2% | +$1.03M |
|
5
PUT
AT&T
T
$165B
| $49.6M | 4.16% |
+2,250,800
| New | +$61.5M |
|
|
MLNX
6
CALL
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $48.5M | 4.07% |
+400,000
| New | +$47M |
|
7
Netflix
NFLX
$292B
| $42.9M | 3.6% |
1,142,500
+526,500
| +85% | +$18.6M |
|
|
8
Live Nation Entertainment
LYV
$41.2B
| $35.1M | 2.95% |
773,100
+440,000
| +132% | +$27.2M |
|
|
9
Elastic
ESTC
$6.1B
| $33.6M | 2.82% |
+602,200
| New | +$38.9M |
|
10
PUT
Target
TGT
$62.1B
| $32.5M | 2.73% |
+350,000
| New | +$38.9M |
|
11
Cloudflare
NET
$93B
| $31.3M | 2.63% |
+1,333,180
| New | +$25.9M |
|
|
12
CrowdStrike
CRWD
$187B
| $31M | 2.6% |
+2,227,200
| New | +$31.4M |
|
13
PUT
VanEck Semiconductor ETF
SMH
$67.6B
| $29.3M | 2.46% |
500,000
+100,000
| +25% | +$6.74M |
|
14
CALL
XPO
XPO
$25B
| $29.3M | 2.46% |
+1,734,836
| New | +$46.4M |
|
15
Marvell Technology
MRVL
$174B
| $27.3M | 2.29% |
1,206,303
+909,403
| +306% | +$21.8M |
|
|
16
Uber
UBER
$134B
| $26.5M | 2.23% |
+950,000
| New | +$31.3M |
|
|
17
CALL
Live Nation Entertainment
LYV
$41.2B
| $26.1M | 2.19% |
+575,000
| New | +$35.5M |
|
|
ZEN
18
DELISTED
ZENDESK INC
ZEN
| $25M | 2.1% |
390,000
-137,600
| -26% | -$10.7M |
|
19
CALL
Aptiv
APTV
$12B
| $24.6M | 2.07% |
+500,000
| New | +$39.2M |
|
|
20
CALL
Elastic
ESTC
$6.1B
| $22.3M | 1.87% |
400,000
+200,000
| +100% | +$12.9M |
|
|
IAA
21
DELISTED
IAA, Inc. Common Stock
IAA
| $22.2M | 1.86% |
740,465
+323,556
| +78% | +$14M |
|
22
Starbucks
SBUX
$118B
| $21.7M | 1.82% |
+330,000
| New | +$26.7M |
|
|
23
XPO
XPO
$25B
| $19.9M | 1.67% |
1,180,816
+14,428
| +1% | +$386K |
|
|
SMAR
24
DELISTED
Smartsheet Inc.
SMAR
| $19.5M | 1.63% |
+469,060
| New | +$21.3M |
|
|
25
PUT
Uber
UBER
$134B
| $16.8M | 1.41% |
+600,000
| New | +$19.7M |
|
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Black-and-white Capital's Q1 2020 Portfolio in Review
As of Q1 2020, Black-and-white Capital held 85 positions worth $1.19B, up 1% from $1.18B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Black-and-white Capital deployed $306M of net new capital in Q1 2020, opening 48 new positions and adding to 12 existing holdings. Its largest new stake was Elastic: 602,200 shares worth $33.6M.
By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 15% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was Avalara, Inc., an estimated $44.4M trimmed.
- Black-and-white Capital's largest Q1 2020 buy was Elastic: 602,200 shares worth $33.6M.
- Black-and-white Capital added most to Walt Disney in Q1 2020, an estimated $37.7M increase.
- Black-and-white Capital's biggest Q1 2020 reduction was Avalara, Inc., cutting an estimated $44.4M.
- Black-and-white Capital fully exited Snap in Q1 2020, selling an estimated $46.3M.
- Black-and-white Capital's ten largest holdings make up 44% of its $1.19B portfolio in Q1 2020.
- Black-and-white Capital opened 48 new positions and closed 20 in Q1 2020.
- Black-and-white Capital's portfolio value rose 1% quarter-over-quarter to $1.19B.
Based on Black-and-white Capital's 13F filing for Q1 2020, filed 15 May 2020.