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Blackstart Capital Portfolio holdings

AUM $151M
1-Year Est. Return 14.01%
This Fund
S&P 500
This Quarter Est. Return
+1.2%
1 Year Est. Return
-14.01%
3 Year Est. Return
+9%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$151M
AUM Growth
+$97.3M
Cap. Flow
+$99.1M
Cap. Flow %
65.8%
Top 10 Hldgs %
62.92%
Holding
28
New
10
Increased
9
Reduced
2
Closed
7

Top Buys

Rank Stock Value
1
NI icon
NiSource
NI
+$11.7M
2
FE icon
FirstEnergy
FE
+$11.3M
3
OGE icon
OGE Energy
OGE
+$10.8M
4
NEE icon
NextEra Energy
NEE
+$8.18M
5
EIX icon
Edison International
EIX
+$7.11M

Top Sells

Rank Stock Value
1
DUK icon
Duke Energy
DUK
+$4.99M
2
PNW icon
Pinnacle West Capital
PNW
+$3.59M
3
ALE
Allete
ALE
+$2.58M
4
WEC icon
WEC Energy
WEC
+$2.36M
5
AY
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
+$2.35M

Sector Composition

Rank Sector Weight
1 Utilities 96.52%
2 Miscellaneous 2.68%
3 Energy 0.52%
4 Technology 0.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FE icon
1
FirstEnergy
FE
$26.5B
$15.4M 10.2%
396,056
+274,598
+226% +$11.3M
NI icon
2
NiSource
NI
$19.5B
$11M 7.33%
+485,573
New +$11.7M
CNP icon
3
CenterPoint Energy
CNP
$25.8B
$10.6M 7.06%
569,636
+409,079
+255% +$7.05M
EIX icon
4
Edison International
EIX
$27B
$10.6M 7.05%
195,513
+123,520
+172% +$7.11M
NEE icon
5
NextEra Energy
NEE
$171B
$10.6M 7.04%
176,572
+136,604
+342% +$8.18M
OGE icon
6
OGE Energy
OGE
$9.45B
$10.6M 7.02%
+348,102
New +$10.8M
AES icon
7
AES
AES
$10.5B
$6.7M 4.45%
462,605
+219,087
+90% +$2.88M
NJR icon
8
New Jersey Resources
NJR
$5.44B
$6.44M 4.27%
+197,176
New +$6.53M
PPL
9
PPL Corp
PPL
$25.7B
$6.4M 4.25%
247,784
+133,254
+116% +$3.47M
WTRG icon
10
Essential Utilities
WTRG
$11.7B
$6.39M 4.24%
151,251
+82,604
+120% +$3.49M
ES icon
11
Eversource Energy
ES
$26.7B
$6.37M 4.23%
+76,540
New +$6.34M
ED icon
12
Consolidated Edison
ED
$39.8B
$6.37M 4.23%
+88,565
New +$6.8M
VST icon
13
Vistra
VST
$46B
$6.36M 4.22%
+341,692
New +$6.44M
AQN icon
14
Algonquin Power & Utilities
AQN
$4.36B
$6.35M 4.22%
+491,425
New +$6.72M
EVRG icon
15
Evergy
EVRG
$18.6B
$6.34M 4.21%
106,891
-7,611
-7% -$451K
PCG icon
16
PG&E
PCG
$36.6B
$6.3M 4.19%
710,718
+382,643
+117% +$4.17M
CMS icon
17
CMS Energy
CMS
$21.4B
$6.27M 4.16%
+107,290
New +$6.21M
TXNM
18
TXNM Energy Inc
TXNM
$5.94B
$6.24M 4.15%
162,397
+72,669
+81% +$2.9M
VXX icon
19
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$133M
$4.03M 2.68%
+1,857
New +$4.46M
NFE icon
20
New Fortress Energy
NFE
$83.6M
$783K 0.52%
60,396
-17,459
-22% -$219K
ENPH icon
21
Enphase Energy
ENPH
$4.92B
$419K 0.28%
+8,809
New +$421K
ALE
22
DELISTED
Allete
ALE
– –
-42,508
Closed -$2.58M
AMLP icon
23
Alerian MLP ETF
AMLP
$13.4B
– –
-36,549
Closed -$629K
DUK icon
24
Duke Energy
DUK
$93.8B
– –
-61,630
Closed -$4.99M
PNW icon
25
Pinnacle West Capital
PNW
$11.8B
– –
-47,417
Closed -$3.59M
1
2

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Blackstart Capital's Q2 2020 Portfolio in Review

As of Q2 2020, Blackstart Capital held 28 positions worth $151M, up 183% from $53.3M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Blackstart Capital deployed $99.1M of net new capital in Q2 2020, opening 10 new positions and adding to 9 existing holdings. Its largest new stake was NiSource: 485,573 shares worth $11M.

By sector, the portfolio is most concentrated in Utilities at 97% of assets, up from 96% a quarter earlier, followed by Miscellaneous and Energy.

On the sell side, the largest reduction was Evergy, an estimated $451K trimmed.

  • Blackstart Capital's largest Q2 2020 buy was NiSource: 485,573 shares worth $11M.
  • Blackstart Capital added most to FirstEnergy in Q2 2020, an estimated $11.3M increase.
  • Blackstart Capital's biggest Q2 2020 reduction was Evergy, cutting an estimated $451K.
  • Blackstart Capital fully exited Duke Energy in Q2 2020, selling an estimated $4.99M.
  • Blackstart Capital's ten largest holdings make up 63% of its $151M portfolio in Q2 2020.
  • Blackstart Capital opened 10 new positions and closed 7 in Q2 2020.
  • Blackstart Capital's portfolio value rose 183% quarter-over-quarter to $151M.

Based on Blackstart Capital's 13F filing for Q2 2020, filed 14 Aug 2020.