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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
+56.76%
1 Year Est. Return
+94.03%
3 Year Est. Return
+264.8%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$612M
AUM Growth
-$579M
(-49%)
Cap. Flow
-$791M
Cap. Flow
% of AUM
-129.2%
Top 10 Holdings %
Top 10 Hldgs %
51.21%
Holding
89
New
24
Increased
3
Reduced
13
Closed
49
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Match Group
MTCH
|
+$25.8M |
| 2 |
Walmart Inc
WMT
|
+$20M |
| 3 |
Spotify
SPOT
|
+$18.9M |
| 4 |
Roku
ROKU
|
+$18.2M |
| 5 |
Micron Technology
MU
|
+$17.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walt Disney
DIS
|
+$54.2M |
| 2 |
Netflix
NFLX
|
+$42.9M |
| 3 |
ZNGA
ZYNGA INC. CL A COMMON
ZNGA
|
+$34.4M |
| 4 |
XPO
XPO
|
+$28.3M |
| 5 |
Live Nation Entertainment
LYV
|
+$27.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 35.45% |
| 2 | Communication Services | 17.85% |
| 3 | Consumer Discretionary | 5.6% |
| 4 | Consumer Staples | 4.1% |
| 5 | Industrials | 1.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Match Group
MTCH
$8.84B
| $43.3M | 7.06% |
404,100
+308,700
| +324% | +$25.8M |
|
|
ZNGA
2
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $36.6M | 5.98% |
3,840,000
-4,197,300
| -52% | -$34.4M |
|
3
PUT
Apple
AAPL
$4.89T
| $36.5M | 5.96% |
400,000
-800,000
| -67% | -$62M |
|
4
Elastic
ESTC
$6.1B
| $35.2M | 5.74% |
381,400
-220,800
| -37% | -$16.1M |
|
5
CrowdStrike
CRWD
$187B
| $30.5M | 4.98% |
1,215,600
-1,011,600
| -45% | -$20.3M |
|
|
6
PUT
CrowdStrike
CRWD
$187B
| $30.1M | 4.91% |
+1,200,000
| New | +$24.1M |
|
|
7
Spotify
SPOT
$99.2B
| $28.5M | 4.66% |
+110,500
| New | +$18.9M |
|
|
DISH
8
CALL
DELISTED
DISH Network Corp.
DISH
| $25.4M | 4.14% |
+735,000
| New | +$20.4M |
|
|
9
CALL
Match Group
MTCH
$8.84B
| $24M | 3.92% |
+224,000
| New | +$18.7M |
|
|
10
CALL
Micron Technology
MU
$1.04T
| $23.7M | 3.87% |
+460,000
| New | +$21.7M |
|
11
Cloudflare
NET
$93B
| $20.3M | 3.31% |
564,000
-769,180
| -58% | -$21.5M |
|
|
12
Walmart Inc
WMT
$871B
| $19.4M | 3.17% |
+486,300
| New | +$20M |
|
|
13
Micron Technology
MU
$1.04T
| $19.1M | 3.12% |
+370,400
| New | +$17.5M |
|
|
14
Roku
ROKU
$21.1B
| $18.5M | 3.03% |
+159,000
| New | +$18.2M |
|
15
BILL Holdings
BILL
$4.33B
| $18.2M | 2.97% |
+201,500
| New | +$13M |
|
|
SMAR
16
DELISTED
Smartsheet Inc.
SMAR
| $17.2M | 2.8% |
337,000
-132,060
| -28% | -$6.72M |
|
|
ZEN
17
DELISTED
ZENDESK INC
ZEN
| $16.9M | 2.76% |
190,600
-199,400
| -51% | -$15.4M |
|
|
ZNGA
18
CALL
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $15.7M | 2.57% |
1,650,000
+1,150,000
| +230% | +$9.43M |
|
|
19
CALL
XPO
XPO
$25B
| $15.4M | 2.52% |
578,279
-1,156,557
| -67% | -$27.7M |
|
|
20
Walt Disney
DIS
$165B
| $10.1M | 1.66% |
91,000
-491,125
| -84% | -$54.2M |
|
21
PUT
DraftKings
DKNG
$11.4B
| $9.98M | 1.63% |
+300,000
| New | +$8.29M |
|
22
General Motors
GM
$74.7B
| $9.97M | 1.63% |
+394,000
| New | +$9.58M |
|
23
Booking.com
BKNG
$138B
| $9.87M | 1.61% |
+155,000
| New | +$9.44M |
|
|
24
PUT
Cloudflare
NET
$93B
| $9.71M | 1.58% |
+270,000
| New | +$7.54M |
|
25
Aptiv
APTV
$12B
| $9.2M | 1.5% |
118,025
-112,325
| -49% | -$7.73M |
|
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Black-and-white Capital's Q2 2020 Portfolio in Review
As of Q2 2020, Black-and-white Capital held 89 positions worth $612M, down 49% from $1.19B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Black-and-white Capital withdrew a net $791M in Q2 2020, closing 49 positions and reducing 13 holdings. Its most notable exit was Netflix, an estimated $42.9M position sold in full.
By sector, the portfolio is most concentrated in Technology at 35% of assets, up from 24% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Black-and-white Capital opened a new position in Walmart Inc worth $19.4M.
- Black-and-white Capital's largest Q2 2020 buy was Walmart Inc: 486,300 shares worth $19.4M.
- Black-and-white Capital added most to Match Group in Q2 2020, an estimated $25.8M increase.
- Black-and-white Capital's biggest Q2 2020 reduction was Walt Disney, cutting an estimated $54.2M.
- Black-and-white Capital fully exited Netflix in Q2 2020, selling an estimated $42.9M.
- Black-and-white Capital's ten largest holdings make up 51% of its $612M portfolio in Q2 2020.
- Black-and-white Capital opened 24 new positions and closed 49 in Q2 2020.
- Black-and-white Capital's portfolio value fell 49% quarter-over-quarter to $612M.
Based on Black-and-white Capital's 13F filing for Q2 2020, filed 14 Aug 2020.