Element Capital Management Portfolio holdings
Element Capital is a global macro hedge fund firm. It forms its market views by combining fundamental research, computer-driven signals and relative value analysis. Jeffrey Talpins, its founder, chief executive and chief investment officer, launched its flagship hedge fund in April 2005. The firm began operating as an investment adviser in June 2007. It trades mainly in bonds, currencies, stocks, credit and commodities. Its funds are meant for sophisticated and institutional investors.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dynegy, Inc.
DYN
|
+$18.3M |
| 2 |
H&R Block
HRB
|
+$14M |
| 3 |
ICPT
Intercept Pharmaceuticals, Inc.
ICPT
|
+$13.9M |
| 4 |
J.M. Smucker
SJM
|
+$11.7M |
| 5 |
US Foods
USFD
|
+$10.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FedEx
FDX
|
+$30.5M |
| 2 |
Dollar General
DG
|
+$28.1M |
| 3 |
Comcast
CMCSA
|
+$13.6M |
| 4 |
Urban Outfitters
URBN
|
+$5.88M |
| 5 |
Walmart Inc
WMT
|
+$3.44M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 47.84% |
| 2 | Consumer Staples | 10.04% |
| 3 | Healthcare | 8.05% |
| 4 | Financials | 7.8% |
| 5 | Industrials | 5.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
D.R. Horton
DHI
$39.2B
| $64.3M | 9.72% |
2,042,698
-2,599
| -0.1% | -$79.3K |
2014 Q4
6 quarters
|
|
2
Lennar Class A
LEN
$19.9B
| $50.3M | 7.6% |
1,146,417
+131
| +0% | +$5.73K |
2014 Q4
6 quarters
|
|
3
NVR
NVR
$15.4B
| $42.2M | 6.37% |
23,678
| – | – |
2014 Q4
6 quarters
|
|
4
Pultegroup
PHM
$23.4B
| $38.8M | 5.87% |
1,991,309
| – | – |
2014 Q4
6 quarters
|
|
5
Toll Brothers
TOL
$13.6B
| $27.1M | 4.09% |
1,005,774
| – | – |
2014 Q4
6 quarters
|
|
6
Altria Group
MO
$130B
| $18.6M | 2.81% |
270,037
+107,906
| +67% | +$6.91M |
2015 Q2
4 quarters
|
|
|
7
DELISTED
Dynegy, Inc.
DYN
| $18.1M | 2.74% |
+1,052,081
| New | +$18.3M |
2016 Q2
0 quarters
|
|
|
CAA
8
DELISTED
CalAtlantic Group, Inc.
CAA
| $17.6M | 2.66% |
479,201
| – | – |
2014 Q4
6 quarters
|
|
9
Verizon
VZ
$193B
| $17.6M | 2.66% |
314,736
-16,169
| -5% | -$839K |
2015 Q3
3 quarters
|
|
|
10
H&R Block
HRB
$6.17B
| $14.5M | 2.19% |
+629,338
| New | +$14M |
2016 Q2
0 quarters
|
|
|
ICPT
11
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $13.6M | 2.06% |
+95,512
| New | +$13.9M |
2016 Q2
0 quarters
|
|
|
12
J.M. Smucker
SJM
$14.1B
| $13.5M | 2.03% |
+88,300
| New | +$11.7M |
2016 Q2
0 quarters
|
|
13
Wells Fargo
WFC
$257B
| $13M | 1.97% |
274,803
+7,381
| +3% | +$360K |
2015 Q4
2 quarters
|
|
|
MGP
14
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
| $11.7M | 1.77% |
+440,000
| New | +$10.5M |
2016 Q2
0 quarters
|
|
|
15
US Foods
USFD
$23.2B
| $10.8M | 1.63% |
+444,000
| New | +$10.8M |
2016 Q2
0 quarters
|
|
16
DELISTED
Tri Pointe Homes
TPH
| $10.7M | 1.61% |
902,892
| – | – |
2015 Q4
2 quarters
|
|
|
CY
17
DELISTED
Cypress Semiconductor
CY
| $9.5M | 1.44% |
+900,000
| New | +$8.58M |
2016 Q2
0 quarters
|
|
18
CVS Health
CVS
$115B
| $8.91M | 1.35% |
93,050
-8,341
| -8% | -$831K |
2015 Q2
4 quarters
|
|
19
KB Home
KBH
$2.94B
| $8.59M | 1.3% |
565,030
+1,000
| +0.2% | +$14K |
2014 Q4
6 quarters
|
|
20
DELISTED
TopBuild
BLD
| $8.59M | 1.3% |
237,309
| – | – |
2015 Q4
2 quarters
|
|
21
Meritage Homes
MTH
$4.17B
| $8.59M | 1.3% |
457,570
| – | – |
2014 Q4
6 quarters
|
|
22
UnitedHealth
UNH
$363B
| $6.13M | 0.93% |
43,401
+16,945
| +64% | +$2.26M |
2016 Q1
1 quarter
|
|
23
Red Rock Resorts
RRR
$2.93B
| $5.99M | 0.91% |
+272,500
| New | +$5.55M |
2016 Q2
0 quarters
|
|
24
DELISTED
M.D.C. Holdings, Inc.
MDC
| $5.9M | 0.89% |
336,889
| – | – |
2014 Q4
6 quarters
|
|
25
US Bancorp
USB
$94.2B
| $5.88M | 0.89% |
145,881
-6,438
| -4% | -$268K |
2015 Q2
4 quarters
|
|
Similar funds
Element Capital Management's Q2 2016 Portfolio in Review
As of Q2 2016, Element Capital Management held 242 positions worth $662M, down 1.9% from $674M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Element Capital Management withdrew a net $28.8M in Q2 2016, closing 54 positions and reducing 107 holdings. Its most notable exit was FedEx, an estimated $30.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 48% of assets, up from 45% a quarter earlier, followed by Consumer Staples and Healthcare.
Against the trend, Element Capital Management opened a new position in Dynegy, Inc. worth $18.1M.
- Element Capital Management's largest Q2 2016 buy was Dynegy, Inc.: 1,052,081 shares worth $18.1M.
- Element Capital Management added most to Altria Group in Q2 2016, an estimated $6.91M increase.
- Element Capital Management's biggest Q2 2016 reduction was Dollar General, cutting an estimated $28.1M.
- Element Capital Management fully exited FedEx in Q2 2016, selling an estimated $30.5M.
- Element Capital Management's ten largest holdings make up 47% of its $662M portfolio in Q2 2016.
- Element Capital Management opened 29 new positions and closed 54 in Q2 2016.
- Element Capital Management's portfolio value fell 1.9% quarter-over-quarter to $662M.
Based on Element Capital Management's 13F filing for Q2 2016, filed 15 Aug 2016.