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Cowbird Capital Portfolio holdings
AUM
$87M
1-Year Est. Return
10.91%
This Fund
S&P 500
This Quarter
Est. Return
-8.79%
1 Year Est. Return
+10.91%
3 Year Est. Return
+21.33%
5 Year Est. Return
+278.89%
10 Year Est. Return
–
AUM
$148M
AUM Growth
+$28.4M
(+24%)
Cap. Flow
+$38.3M
Cap. Flow
% of AUM
25.85%
Top 10 Holdings %
Top 10 Hldgs %
89.73%
Holding
17
New
6
Increased
1
Reduced
5
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Upwork
UPWK
|
+$13.5M |
| 2 |
SMAR
Smartsheet Inc.
SMAR
|
+$10.1M |
| 3 |
Align Technology
ALGN
|
+$8.87M |
| 4 |
TechTarget
TTGT
|
+$7.58M |
| 5 |
DOCU
DocuSign
DOCU
|
+$5.52M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pegasystems
PEGA
|
+$10.4M |
| 2 |
QADA
QAD Inc.
QADA
|
+$9.68M |
| 3 |
Frontdoor
FTDR
|
+$9M |
| 4 |
TLND
Talend S.A. American Depositary Shares
TLND
|
+$8.69M |
| 5 |
IQVIA
IQV
|
+$6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 34.8% |
| 2 | Consumer Discretionary | 15.44% |
| 3 | Healthcare | 12.69% |
| 4 | Communication Services | 7.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
Invesco QQQ Trust
QQQ
$455B
| $41.8M | 28.26% |
+221,500
| New | +$42M |
|
|
2
Upwork
UPWK
$1.09B
| $11.8M | 7.98% |
+887,092
| New | +$13.5M |
|
3
Yext
YEXT
$501M
| $11.5M | 7.79% |
725,187
-100,087
| -12% | -$1.91M |
|
4
Etsy
ETSY
$7.65B
| $11.5M | 7.77% |
203,633
-23,368
| -10% | -$1.37M |
|
|
5
Frontdoor
FTDR
$5.02B
| $11.3M | 7.66% |
233,525
-186,343
| -44% | -$9M |
|
|
6
IQVIA
IQV
$34.7B
| $11.1M | 7.48% |
74,070
-38,523
| -34% | -$6M |
|
|
AYX
7
DELISTED
Alteryx Inc
AYX
| $9.49M | 6.41% |
88,346
-29,890
| -25% | -$3.71M |
|
8
Twilio
TWLO
$29.1B
| $8.92M | 6.03% |
81,134
+12,845
| +19% | +$1.67M |
|
|
9
Align Technology
ALGN
$12B
| $7.72M | 5.21% |
+42,653
| New | +$8.87M |
|
|
SMAR
10
DELISTED
Smartsheet Inc.
SMAR
| $7.61M | 5.14% |
+211,132
| New | +$10.1M |
|
|
11
TechTarget
TTGT
$246M
| $7.43M | 5.02% |
+329,835
| New | +$7.58M |
|
|
DOCU
12
DocuSign
DOCU
$9.63B
| $6.53M | 4.41% |
+105,397
| New | +$5.52M |
|
13
PUT
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$249M
| $1.24M | 0.84% |
19
| – | – |
|
|
14
Pegasystems
PEGA
$4.41B
| – | – |
-291,626
| Closed | -$10.4M |
|
|
BFX
15
PUT
DELISTED
BowFlex Inc.
BFX
| – | – |
-94,500
| Closed | -$209K |
|
|
TLND
16
DELISTED
Talend S.A. American Depositary Shares
TLND
| – | – |
-225,068
| Closed | -$8.69M |
|
|
QADA
17
DELISTED
QAD Inc.
QADA
| – | – |
-240,822
| Closed | -$9.68M |
|
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Cowbird Capital's Q3 2019 Portfolio in Review
As of Q3 2019, Cowbird Capital held 17 positions worth $148M, up 24% from $120M the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Cowbird Capital deployed $38.3M of net new capital in Q3 2019, opening 6 new positions and adding to 1 existing holding. Its largest new stake was Upwork: 887,092 shares worth $11.8M.
By sector, the portfolio is most concentrated in Technology at 35% of assets, down from 56% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was Frontdoor, an estimated $9M trimmed.
- Cowbird Capital's largest Q3 2019 buy was Upwork: 887,092 shares worth $11.8M.
- Cowbird Capital added most to Twilio in Q3 2019, an estimated $1.67M increase.
- Cowbird Capital's biggest Q3 2019 reduction was Frontdoor, cutting an estimated $9M.
- Cowbird Capital fully exited Pegasystems in Q3 2019, selling an estimated $10.4M.
- Cowbird Capital's ten largest holdings make up 90% of its $148M portfolio in Q3 2019.
- Cowbird Capital opened 6 new positions and closed 4 in Q3 2019.
- Cowbird Capital's portfolio value rose 24% quarter-over-quarter to $148M.
Based on Cowbird Capital's 13F filing for Q3 2019, filed 14 Nov 2019.