BC
Blackstart Capital Portfolio holdings
AUM
$151M
Turnover
60.71%
1-Year Est. Return
14.01%
This Fund
S&P 500
This Quarter
Est. Return
+6.57%
1 Year Est. Return
-14.01%
3 Year Est. Return
+9%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$190M
AUM Growth
-$43.6M
(-19%)
Cap. Flow
-$54.1M
Cap. Flow
% of AUM
-28.49%
Top 10 Holdings %
Top 10 Hldgs %
56.59%
Holding
35
New
13
Increased
5
Reduced
10
Closed
7
Avg Time Held
0.4
years
Top 10 Avg Time Held
0.1
years
Top 20 Avg Time Held
0.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Water Works
AWK
|
+$12.4M |
| 2 |
Southern Company
SO
|
+$12.2M |
| 3 |
American Electric Power
AEP
|
+$12.1M |
| 4 |
AES
AES
|
+$8.57M |
| 5 |
SJI
South Jersey Industries, Inc.
SJI
|
+$6.19M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NiSource
NI
|
+$21.2M |
| 2 |
CenterPoint Energy
CNP
|
+$20.8M |
| 3 |
Evergy
EVRG
|
+$16.7M |
| 4 |
FirstEnergy
FE
|
+$14.8M |
| 5 |
Entergy
ETR
|
+$12.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Utilities | 92.83% |
| 2 | Energy | 6.56% |
| 3 | Industrials | 0.4% |
| 4 | Technology | 0.2% |
| 5 | Miscellaneous | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Williams Companies
WMB
$88.9B
| $778K | 0.41% |
+32,345
| New | +$815K |
2019 Q3
0 quarters
|
|
27
DELISTED
TPI Composites
TPIC
| $768K | 0.4% |
40,961
-192,170
| -82% | -$4.1M |
2019 Q2
1 quarter
|
|
28
SolarEdge
SEDG
$1.87B
| $388K | 0.2% |
4,638
-60,715
| -93% | -$4.53M |
2019 Q2
1 quarter
|
|
|
29
CenterPoint Energy
CNP
$26.1B
| – | – |
-725,211
| Closed | -$20.8M | – |
|
|
30
Evergy
EVRG
$19B
| – | – |
-277,276
| Closed | -$16.7M | – |
|
31
Cheniere Energy
LNG
$57.7B
| – | – |
-60,510
| Closed | -$4.14M | – |
|
32
Alliant Energy
LNT
$17.5B
| – | – |
-180,960
| Closed | -$8.88M | – |
|
|
33
NiSource
NI
$19.8B
| – | – |
-735,521
| Closed | -$21.2M | – |
|
34
Pinnacle West Capital
PNW
$12.4B
| – | – |
-61,766
| Closed | -$5.81M | – |
|
35
Sunrun
RUN
$1.76B
| – | – |
-136,318
| Closed | -$2.56M | – |
|
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Blackstart Capital's Q3 2019 Portfolio in Review
As of Q3 2019, Blackstart Capital held 35 positions worth $190M, down 19% from $234M the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Blackstart Capital withdrew a net $54.1M in Q3 2019, closing 7 positions and reducing 10 holdings. Its most notable exit was NiSource, an estimated $21.2M position sold in full.
By sector, the portfolio is most concentrated in Utilities at 93% of assets, up from 89% a quarter earlier, followed by Energy and Industrials.
Against the trend, Blackstart Capital opened a new position in American Water Works worth $12.8M.
- Blackstart Capital's largest Q3 2019 buy was American Water Works: 102,727 shares worth $12.8M.
- Blackstart Capital added most to Edison International in Q3 2019, an estimated $4.44M increase.
- Blackstart Capital's biggest Q3 2019 reduction was FirstEnergy, cutting an estimated $14.8M.
- Blackstart Capital fully exited NiSource in Q3 2019, selling an estimated $21.2M.
- Blackstart Capital's ten largest holdings make up 57% of its $190M portfolio in Q3 2019.
- Blackstart Capital opened 13 new positions and closed 7 in Q3 2019.
- Blackstart Capital's portfolio value fell 19% quarter-over-quarter to $190M.
Based on Blackstart Capital's 13F filing for Q3 2019, filed 14 Nov 2019.