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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
+22.16%
1 Year Est. Return
+94.03%
3 Year Est. Return
+264.8%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$935M
AUM Growth
+$323M
(+53%)
Cap. Flow
+$273M
Cap. Flow
% of AUM
29.22%
Top 10 Holdings %
Top 10 Hldgs %
55.88%
Holding
58
New
18
Increased
10
Reduced
6
Closed
24
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Etsy
ETSY
|
+$41.9M |
| 2 |
Netflix
NFLX
|
+$39.3M |
| 3 |
Shopify
SHOP
|
+$33.7M |
| 4 |
PENN Entertainment
PENN
|
+$26.8M |
| 5 |
Booking.com
BKNG
|
+$25M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ZNGA
ZYNGA INC. CL A COMMON
ZNGA
|
+$21.9M |
| 2 |
CrowdStrike
CRWD
|
+$21M |
| 3 |
Walmart Inc
WMT
|
+$19.4M |
| 4 |
SMAR
Smartsheet Inc.
SMAR
|
+$17.2M |
| 5 |
ZEN
ZENDESK INC
ZEN
|
+$16.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.65% |
| 2 | Communication Services | 21.29% |
| 3 | Consumer Discretionary | 14.4% |
| 4 | Real Estate | 1.04% |
| 5 | Consumer Staples | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $100M | 10.74% |
+300,000
| New | +$99.4M |
|
2
CALL
Micron Technology
MU
$1.04T
| $55.7M | 5.96% |
1,187,000
+727,000
| +158% | +$35.2M |
|
3
PUT
SPDR Gold Trust
GLD
$131B
| $53.1M | 5.68% |
+300,000
| New | +$53.9M |
|
4
Match Group
MTCH
$8.84B
| $52.5M | 5.61% |
474,300
+70,200
| +17% | +$7.43M |
|
5
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $52.4M | 5.61% |
+350,000
| New | +$52.7M |
|
|
6
Etsy
ETSY
$7.65B
| $49.6M | 5.3% |
407,600
+358,300
| +727% | +$41.9M |
|
7
Spotify
SPOT
$99.2B
| $44.5M | 4.76% |
183,300
+72,800
| +66% | +$18.8M |
|
|
8
PENN Entertainment
PENN
$2.74B
| $39.8M | 4.25% |
+546,950
| New | +$26.8M |
|
|
9
Netflix
NFLX
$292B
| $39.5M | 4.22% |
+790,000
| New | +$39.3M |
|
|
10
Booking.com
BKNG
$138B
| $34.9M | 3.74% |
510,750
+355,750
| +230% | +$25M |
|
|
11
Shopify
SHOP
$148B
| $34.7M | 3.71% |
+339,000
| New | +$33.7M |
|
12
Elastic
ESTC
$6.1B
| $30.4M | 3.25% |
282,000
-99,400
| -26% | -$9.76M |
|
|
13
Micron Technology
MU
$1.04T
| $30.3M | 3.24% |
645,650
+275,250
| +74% | +$13.3M |
|
|
PARA
14
PUT
DELISTED
Paramount Global Class B
PARA
| $30.3M | 3.24% |
+1,080,000
| New | +$28.9M |
|
15
BILL Holdings
BILL
$4.33B
| $24.9M | 2.67% |
248,600
+47,100
| +23% | +$4.29M |
|
16
Shift4
FOUR
$3.84B
| $20.3M | 2.17% |
+420,000
| New | +$18.7M |
|
17
CALL
State Street SPDR S&P Regional Banking ETF
KRE
$4.86B
| $17.8M | 1.91% |
+500,000
| New | +$18.8M |
|
18
Live Nation Entertainment
LYV
$41.2B
| $17.7M | 1.89% |
328,000
+188,000
| +134% | +$9.69M |
|
19
Skyworks Solutions
SWKS
$9.06B
| $17.6M | 1.88% |
+120,900
| New | +$16.8M |
|
|
20
CrowdStrike
CRWD
$187B
| $17M | 1.82% |
495,200
-720,400
| -59% | -$21M |
|
21
Walt Disney
DIS
$165B
| $16.8M | 1.79% |
135,000
+44,000
| +48% | +$5.5M |
|
22
Pinterest
PINS
$12.4B
| $16.4M | 1.75% |
+395,000
| New | +$12.9M |
|
|
ZNGA
23
CALL
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $15.5M | 1.66% |
1,700,000
+50,000
| +3% | +$465K |
|
24
Unity
U
$12.5B
| $14.6M | 1.56% |
+166,700
| New | +$14.1M |
|
|
25
PUT
PENN Entertainment
PENN
$2.74B
| $14.5M | 1.56% |
+200,000
| New | +$9.81M |
|
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Black-and-white Capital's Q3 2020 Portfolio in Review
As of Q3 2020, Black-and-white Capital held 58 positions worth $935M, up 53% from $612M the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Black-and-white Capital deployed $273M of net new capital in Q3 2020, opening 18 new positions and adding to 10 existing holdings. Its largest new stake was Netflix: 790,000 shares worth $39.5M.
By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 35% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was ZYNGA INC. CL A COMMON, an estimated $21.9M trimmed.
- Black-and-white Capital's largest Q3 2020 buy was Netflix: 790,000 shares worth $39.5M.
- Black-and-white Capital added most to Etsy in Q3 2020, an estimated $41.9M increase.
- Black-and-white Capital's biggest Q3 2020 reduction was ZYNGA INC. CL A COMMON, cutting an estimated $21.9M.
- Black-and-white Capital fully exited Walmart Inc in Q3 2020, selling an estimated $19.4M.
- Black-and-white Capital's ten largest holdings make up 56% of its $935M portfolio in Q3 2020.
- Black-and-white Capital opened 18 new positions and closed 24 in Q3 2020.
- Black-and-white Capital's portfolio value rose 53% quarter-over-quarter to $935M.
Based on Black-and-white Capital's 13F filing for Q3 2020, filed 16 Nov 2020.