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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
+35.04%
1 Year Est. Return
+94.03%
3 Year Est. Return
+264.8%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.2B
AUM Growth
+$266M
(+28%)
Cap. Flow
-$84.6M
Cap. Flow
% of AUM
-7.05%
Top 10 Holdings %
Top 10 Hldgs %
55.36%
Holding
56
New
22
Increased
5
Reduced
10
Closed
19
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Western Digital
WDC
|
+$38.6M |
| 2 |
RingCentral
RNG
|
+$32.5M |
| 3 |
Booking.com
BKNG
|
+$25.8M |
| 4 |
Walt Disney
DIS
|
+$22.6M |
| 5 |
MNDT
Mandiant, Inc. Common Stock
MNDT
|
+$21.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Etsy
ETSY
|
+$49.6M |
| 2 |
Spotify
SPOT
|
+$42.5M |
| 3 |
Match Group
MTCH
|
+$27.3M |
| 4 |
Shopify
SHOP
|
+$26.4M |
| 5 |
BILL Holdings
BILL
|
+$24.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 48.32% |
| 2 | Technology | 22.08% |
| 3 | Communication Services | 16% |
| 4 | Consumer Discretionary | 13.18% |
| 5 | Financials | 0.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
Amazon
AMZN
$2.65T
| $114M | 9.49% |
+700,000
| New | +$112M |
|
|
2
CALL
Western Digital
WDC
$150B
| $89.2M | 7.43% |
+2,130,030
| New | +$70.7M |
|
|
3
Booking.com
BKNG
$129B
| $75.3M | 6.27% |
845,250
+334,500
| +65% | +$25.8M |
|
4
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$795B
| $74.8M | 6.23% |
200,000
-100,000
| -33% | -$35.5M |
|
5
CALL
Netflix
NFLX
$318B
| $61.1M | 5.09% |
+1,130,000
| New | +$57.3M |
|
6
PUT
iShares Russell 2000 ETF
IWM
$76.5B
| $58.8M | 4.9% |
300,000
-50,000
| -14% | -$8.75M |
|
|
7
Walt Disney
DIS
$185B
| $52.9M | 4.41% |
292,175
+157,175
| +116% | +$22.6M |
|
|
8
Western Digital
WDC
$150B
| $48.7M | 4.06% |
+1,164,159
| New | +$38.6M |
|
9
Live Nation Entertainment
LYV
$39.9B
| $47.1M | 3.92% |
641,085
+313,085
| +95% | +$19.8M |
|
10
Elastic
ESTC
$8.93B
| $42.9M | 3.57% |
293,740
+11,740
| +4% | +$1.44M |
|
|
11
Match Group
MTCH
$10B
| $40.5M | 3.38% |
268,120
-206,180
| -43% | -$27.3M |
|
|
ZNGA
12
CALL
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $40.4M | 3.36% |
4,093,000
+2,393,000
| +141% | +$21.5M |
|
|
13
RingCentral
RNG
$6.14B
| $39.7M | 3.3% |
+104,645
| New | +$32.5M |
|
14
Micron Technology
MU
$1.05T
| $35.3M | 2.94% |
470,145
-175,505
| -27% | -$10.6M |
|
|
15
Netflix
NFLX
$318B
| $35.3M | 2.94% |
652,800
-137,200
| -17% | -$6.96M |
|
16
PUT
Roku
ROKU
$23B
| $33.2M | 2.76% |
+100,000
| New | +$26.2M |
|
|
MNDT
17
DELISTED
Mandiant, Inc. Common Stock
MNDT
| $32.1M | 2.67% |
+1,391,700
| New | +$21.4M |
|
|
MNDT
18
CALL
DELISTED
Mandiant, Inc. Common Stock
MNDT
| $32.1M | 2.67% |
+1,390,400
| New | +$21.4M |
|
|
19
CALL
Micron Technology
MU
$1.05T
| $30.1M | 2.5% |
400,000
-787,000
| -66% | -$47.5M |
|
20
PENN Entertainment
PENN
$2.37B
| $27.2M | 2.27% |
315,130
-231,820
| -42% | -$16.5M |
|
|
21
CALL
PENN Entertainment
PENN
$2.37B
| $25.5M | 2.12% |
+295,000
| New | +$21.1M |
|
22
DraftKings
DKNG
$12.1B
| $19.5M | 1.63% |
+419,570
| New | +$20M |
|
|
EVBG
23
DELISTED
Everbridge, Inc. Common Stock
EVBG
| $19.3M | 1.61% |
+129,630
| New | +$16.6M |
|
24
Las Vegas Sands
LVS
$26.6B
| $15.6M | 1.3% |
+262,250
| New | +$14M |
|
25
Airbnb
ABNB
$98.8B
| $10.7M | 0.89% |
+72,665
| New | +$10.7M |
|
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Black-and-white Capital's Q4 2020 Portfolio in Review
As of Q4 2020, Black-and-white Capital held 56 positions worth $1.2B, up 28% from $935M the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Black-and-white Capital withdrew a net $84.6M in Q4 2020, closing 19 positions and reducing 10 holdings. Its most notable exit was Etsy, an estimated $49.6M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 48% of assets, up from 40% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Black-and-white Capital opened a new position in Western Digital worth $48.7M.
- Black-and-white Capital's largest Q4 2020 buy was Western Digital: 1,164,159 shares worth $48.7M.
- Black-and-white Capital added most to Booking.com in Q4 2020, an estimated $25.8M increase.
- Black-and-white Capital's biggest Q4 2020 reduction was Spotify, cutting an estimated $42.5M.
- Black-and-white Capital fully exited Etsy in Q4 2020, selling an estimated $49.6M.
- Black-and-white Capital's ten largest holdings make up 55% of its $1.2B portfolio in Q4 2020.
- Black-and-white Capital opened 22 new positions and closed 19 in Q4 2020.
- Black-and-white Capital's portfolio value rose 28% quarter-over-quarter to $1.2B.
Based on Black-and-white Capital's 13F filing for Q4 2020, filed 16 Feb 2021.