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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
+1.79%
1 Year Est. Return
-14.01%
3 Year Est. Return
+9%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$439M
AUM Growth
+$29.9M
Cap. Flow
+$23.1M
Cap. Flow %
5.26%
Top 10 Hldgs %
52.4%
Holding
36
New
3
Increased
14
Reduced
11
Closed
8

Top Buys

Rank Stock Value
1
NI icon
NiSource
NI
+$31.9M
2
PEG icon
Public Service Enterprise Group
PEG
+$23.1M
3
CNP icon
CenterPoint Energy
CNP
+$16.2M
4
TELL
Tellurian Inc.
TELL
+$12.5M
5
PPL
PPL Corp
PPL
+$7.92M

Top Sells

Rank Stock Value
1
EE
El Paso Electric Company
EE
+$17.8M
2
DUK icon
Duke Energy
DUK
+$14.9M
3
KMI icon
Kinder Morgan
KMI
+$9.25M
4
SJI
South Jersey Industries, Inc.
SJI
+$7.85M
5
TXNM
TXNM Energy Inc
TXNM
+$7.15M

Sector Composition

Rank Sector Weight
1 Utilities 87.75%
2 Energy 11.33%
3 Real Estate 0.92%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NI icon
1
NiSource
NI
$19.5B
$30.1M 6.85%
+1,206,738
New +$31.9M
FE icon
2
FirstEnergy
FE
$26.5B
$28.9M 6.59%
778,776
+152,161
+24% +$5.56M
D icon
3
Dominion Energy
D
$57.7B
$25.1M 5.73%
357,655
-44,436
-11% -$3.15M
PPL
4
PPL Corp
PPL
$25.7B
$23.5M 5.35%
802,048
+271,216
+51% +$7.92M
PEG icon
5
Public Service Enterprise Group
PEG
$36.5B
$23.3M 5.31%
+441,648
New +$23.1M
SRE icon
6
Sempra
SRE
$55.1B
$21.1M 4.8%
370,290
-33,476
-8% -$1.94M
AEP icon
7
American Electric Power
AEP
$66.6B
$20.3M 4.62%
286,379
-72,460
-20% -$5.16M
LNT icon
8
Alliant Energy
LNT
$17.6B
$20.1M 4.58%
472,334
-10,948
-2% -$470K
EVRG icon
9
Evergy
EVRG
$18.6B
$19.7M 4.48%
358,093
-62,863
-15% -$3.56M
ETR icon
10
Entergy
ETR
$49.3B
$18M 4.09%
443,064
-18,130
-4% -$750K
AEE icon
11
Ameren
AEE
$29.4B
$17.2M 3.92%
272,194
-39,057
-13% -$2.46M
TELL
12
DELISTED
Tellurian Inc.
TELL
$16.1M 3.66%
1,789,319
+1,514,341
+551% +$12.5M
CNP icon
13
CenterPoint Energy
CNP
$25.8B
$16M 3.64%
+577,734
New +$16.2M
HE icon
14
Hawaiian Electric Industries
HE
$1.97B
$15M 3.43%
422,528
+73,000
+21% +$2.57M
POR icon
15
Portland General Electric
POR
$5.83B
$15M 3.42%
328,968
-125
-0% -$5.69K
NRG icon
16
NRG Energy
NRG
$23.4B
$14.1M 3.21%
376,755
+53,739
+17% +$1.8M
PNW icon
17
Pinnacle West Capital
PNW
$11.8B
$13.7M 3.13%
173,533
+18,636
+12% +$1.5M
SR icon
18
Spire
SR
$4.88B
$13.3M 3.02%
180,482
+80,407
+80% +$5.95M
OGE icon
19
OGE Energy
OGE
$9.45B
$13M 2.97%
359,235
+45,122
+14% +$1.64M
LNG icon
20
Cheniere Energy
LNG
$58.3B
$12.8M 2.93%
184,852
+40,075
+28% +$2.58M
WMB icon
21
Williams Companies
WMB
$90.2B
$12.6M 2.88%
464,930
+130,470
+39% +$3.79M
XIFR
22
XPLR Infrastructure LP
XIFR
$1.11B
$10.6M 2.43%
219,505
+55,149
+34% +$2.62M
BKH icon
23
Black Hills Corp
BKH
$5.55B
$8.63M 1.96%
148,480
+3,856
+3% +$232K
SJI
24
DELISTED
South Jersey Industries, Inc.
SJI
$8.18M 1.86%
231,974
-231,257
-50% -$7.85M
DUK icon
25
Duke Energy
DUK
$93.8B
$7.58M 1.73%
94,717
-183,952
-66% -$14.9M
1
2

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SCM
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SC
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Blackstart Capital's Q3 2018 Portfolio in Review

As of Q3 2018, Blackstart Capital held 36 positions worth $439M, up 7.3% from $409M the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Blackstart Capital deployed $23.1M of net new capital in Q3 2018, opening 3 new positions and adding to 14 existing holdings. Its largest new stake was NiSource: 1,206,738 shares worth $30.1M.

By sector, the portfolio is most concentrated in Utilities at 88% of assets, up from 87% a quarter earlier, followed by Energy and Real Estate.

On the sell side, the largest reduction was Duke Energy, an estimated $14.9M trimmed.

  • Blackstart Capital's largest Q3 2018 buy was NiSource: 1,206,738 shares worth $30.1M.
  • Blackstart Capital added most to Tellurian Inc. in Q3 2018, an estimated $12.5M increase.
  • Blackstart Capital's biggest Q3 2018 reduction was Duke Energy, cutting an estimated $14.9M.
  • Blackstart Capital fully exited El Paso Electric Company in Q3 2018, selling an estimated $17.8M.
  • Blackstart Capital's ten largest holdings make up 52% of its $439M portfolio in Q3 2018.
  • Blackstart Capital opened 3 new positions and closed 8 in Q3 2018.
  • Blackstart Capital's portfolio value rose 7.3% quarter-over-quarter to $439M.

Based on Blackstart Capital's 13F filing for Q3 2018, filed 14 Nov 2018.