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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
-4.35%
1 Year Est. Return
+10.91%
3 Year Est. Return
+21.33%
5 Year Est. Return
+278.89%
10 Year Est. Return
–
AUM
$191M
AUM Growth
-$50.5M
Cap. Flow
-$28.1M
Cap. Flow %
-14.69%
Top 10 Hldgs %
100%
Holding
13
New
4
Increased
–
Reduced
6
Closed
3

Top Buys

Rank Stock Value
1
LZ icon
LegalZoom.com
LZ
+$26.5M
2
EB
Eventbrite
EB
+$22.2M
3
ALGN icon
Align Technology
ALGN
+$21.6M
4
HDSN
Hudson Technologies
HDSN
+$594K

Top Sells

Rank Stock Value
1
PANW icon
Palo Alto Networks
PANW
+$25.4M
2
SMCI icon
Super Micro Computer
SMCI
+$23.2M
3
TOST icon
Toast
TOST
+$20.2M
4
DRVN icon
Driven Brands
DRVN
+$16.8M
5
XPEL icon
XPEL
XPEL
+$8.6M

Sector Composition

Rank Sector Weight
1 Industrials 28.53%
2 Consumer Discretionary 26.67%
3 Communication Services 22.31%
4 Healthcare 22.11%
5 Materials 0.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TH icon
1
Target Hospitality
TH
$1.78B
$30.9M 16.16%
1,944,259
-77,891
-4% -$1.1M
GLBE icon
2
Global E Online
GLBE
$6.81B
$24.4M 12.79%
614,671
-63,446
-9% -$2.55M
XPEL icon
3
XPEL
XPEL
$1.42B
$24.4M 12.76%
316,053
-107,047
-25% -$8.6M
LZ icon
4
LegalZoom.com
LZ
$998M
$23.6M 12.37%
+2,158,964
New +$26.5M
PGNY icon
5
Progyny
PGNY
$1.97B
$23.1M 12.12%
680,463
-20,757
-3% -$784K
EB
6
DELISTED
Eventbrite
EB
$21.4M 11.18%
+2,166,415
New +$22.2M
FWONK icon
7
Liberty Media Series C
FWONK
$26.3B
$21.2M 11.13%
341,082
-3,920
-1% -$269K
ALGN icon
8
Align Technology
ALGN
$11.5B
$19.1M 9.99%
+62,515
New +$21.6M
DRVN icon
9
Driven Brands
DRVN
$2.17B
$2.13M 1.12%
169,491
-921,007
-84% -$16.8M
HDSN
10
Hudson Technologies
HDSN
$237M
$732K 0.38%
+55,000
New +$594K
PANW icon
11
Palo Alto Networks
PANW
$292B
– –
-198,680
Closed -$25.4M
SMCI icon
12
Super Micro Computer
SMCI
$24.1B
– –
-929,130
Closed -$23.2M
TOST icon
13
Toast
TOST
$21.2B
– –
-895,523
Closed -$20.2M

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IFA
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ETIA
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FWM
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GIM
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YSP
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EL
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DC
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Cowbird Capital's Q3 2023 Portfolio in Review

As of Q3 2023, Cowbird Capital held 13 positions worth $191M, down 21% from $241M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Cowbird Capital withdrew a net $28.1M in Q3 2023, closing 3 positions and reducing 6 holdings. Its most notable exit was Palo Alto Networks, an estimated $25.4M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 29% of assets, up from 11% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Cowbird Capital opened a new position in LegalZoom.com worth $23.6M.

  • Cowbird Capital's largest Q3 2023 buy was LegalZoom.com: 2,158,964 shares worth $23.6M.
  • Cowbird Capital's biggest Q3 2023 reduction was Driven Brands, cutting an estimated $16.8M.
  • Cowbird Capital fully exited Palo Alto Networks in Q3 2023, selling an estimated $25.4M.
  • Cowbird Capital's ten largest holdings make up 100% of its $191M portfolio in Q3 2023.
  • Cowbird Capital opened 4 new positions and closed 3 in Q3 2023.
  • Cowbird Capital's portfolio value fell 21% quarter-over-quarter to $191M.

Based on Cowbird Capital's 13F filing for Q3 2023, filed 14 Nov 2023.