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Brahman Capital Portfolio holdings
AUM
$275M
1-Year Est. Return
18.08%
This Fund
S&P 500
This Quarter
Est. Return
-7.72%
1 Year Est. Return
+18.08%
3 Year Est. Return
+16.57%
5 Year Est. Return
+65.78%
10 Year Est. Return
+289.43%
AUM
$3.27B
AUM Growth
-$1.79B
(-35%)
Cap. Flow
-$1.54B
Cap. Flow
% of AUM
-46.92%
Top 10 Holdings %
Top 10 Hldgs %
96.29%
Holding
21
New
–
Increased
6
Reduced
5
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bausch Health
BHC
|
+$461M |
| 2 |
ENDP
Endo International plc
ENDP
|
+$29.9M |
| 3 |
QVCGA
QVC Group Inc Series A
QVCGA
|
+$2.13M |
| 4 |
Dollar Tree
DLTR
|
+$1.64M |
| 5 |
Liberty Global Class C
LBTYK
|
+$1.53M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HP
HPQ
|
+$198M |
| 2 |
VISN
Vistance Networks Inc
VISN
|
+$145M |
| 3 |
AL
Air Lease Corp
AL
|
+$141M |
| 4 |
CTXS
Citrix Systems Inc
CTXS
|
+$122M |
| 5 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$89.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 41.53% |
| 2 | Healthcare | 36.49% |
| 3 | Consumer Staples | 13.23% |
| 4 | Consumer Discretionary | 8.74% |
| 5 | Industrials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Bausch Health
BHC
$1.8B
| $825M | 25.22% |
8,117,753
+4,104,202
| +102% | +$461M |
|
2
SiriusXM
SIRI
$10.3B
| $370M | 11.31% |
9,090,717
-430,426
| -5% | -$17.4M |
|
|
TWC
3
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $356M | 10.89% |
1,920,037
-81,523
| -4% | -$15.1M |
|
4
Charter Communications
CHTR
$16.2B
| $323M | 9.88% |
1,764,926
-83,224
| -5% | -$15.4M |
|
|
QVCGA
5
DELISTED
QVC Group Inc Series A
QVCGA
| $286M | 8.74% |
215,600
+1,623
| +0.8% | +$2.13M |
|
|
ENDP
6
DELISTED
Endo International plc
ENDP
| $238M | 7.27% |
3,884,175
+491,618
| +14% | +$29.9M |
|
|
7
Dollar Tree
DLTR
$24.2B
| $231M | 7.06% |
2,989,800
+23,450
| +0.8% | +$1.64M |
|
8
Spectrum Brands
SPB
$2.04B
| $202M | 6.18% |
1,986,298
-632,900
| -24% | -$60.5M |
|
|
9
Liberty Global Class C
LBTYK
$3.41B
| $188M | 5.76% |
5,321,876
+42,515
| +0.8% | +$1.53M |
|
|
WBA
10
DELISTED
Walgreens Boots Alliance
WBA
| $131M | 4.01% |
1,541,917
+13,117
| +0.9% | +$1.11M |
|
11
Liberty Global Class A
LBTYA
$3.52B
| $121M | 3.71% |
3,282,662
-678,286
| -17% | -$25.6M |
|
|
AL
12
DELISTED
Air Lease Corp
AL
| – | – |
-4,561,000
| Closed | -$141M |
|
|
VISN
13
Vistance Networks Inc
VISN
$2.74B
| – | – |
-4,834,105
| Closed | -$145M |
|
|
14
HP
HPQ
$22.7B
| – | – |
-17,064,188
| Closed | -$198M |
|
15
PUT
iShares Russell 2000 ETF
IWM
$82.2B
| – | – |
-2,650,000
| Closed | -$289M |
|
16
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$774B
| – | – |
-2,500,000
| Closed | -$479M |
|
|
17
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$774B
| – | – |
-1,845,000
| Closed | -$354M |
|
|
CTXS
18
DELISTED
Citrix Systems Inc
CTXS
| – | – |
-2,209,846
| Closed | -$122M |
|
|
LVNTA
19
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| – | – |
-2,214,853
| Closed | -$89.4M |
|
|
CPN
20
DELISTED
Calpine Corporation
CPN
| – | – |
-4,730,636
| Closed | -$69.1M |
|
|
HRG
21
DELISTED
HRG Group, Inc.
HRG
| – | – |
-1,000,060
| Closed | -$11.7M |
|
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Brahman Capital's Q4 2015 Portfolio in Review
As of Q4 2015, Brahman Capital held 21 positions worth $3.27B, down 35% from $5.06B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Brahman Capital withdrew a net $1.54B in Q4 2015, closing 10 positions and reducing 5 holdings. Its most notable exit was HP, an estimated $198M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 42% of assets, up from 27% a quarter earlier, followed by Healthcare and Consumer Staples.
Against the trend, Brahman Capital added an estimated $461M to Bausch Health.
- Brahman Capital added most to Bausch Health in Q4 2015, an estimated $461M increase.
- Brahman Capital's biggest Q4 2015 reduction was Spectrum Brands, cutting an estimated $60.5M.
- Brahman Capital fully exited HP in Q4 2015, selling an estimated $198M.
- Brahman Capital's ten largest holdings make up 96% of its $3.27B portfolio in Q4 2015.
- Brahman Capital opened 0 new positions and closed 10 in Q4 2015.
- Brahman Capital's portfolio value fell 35% quarter-over-quarter to $3.27B.
Based on Brahman Capital's 13F filing for Q4 2015, filed 16 Feb 2016.