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EGM
Espalier Global Management Portfolio holdings
AUM
$308M
1-Year Est. Return
14.19%
This Fund
S&P 500
This Quarter
Est. Return
+5.03%
1 Year Est. Return
+14.19%
3 Year Est. Return
+97.16%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.29B
AUM Growth
-$499M
(-28%)
Cap. Flow
-$590M
Cap. Flow
% of AUM
-45.68%
Top 10 Holdings %
Top 10 Hldgs %
46.33%
Holding
159
New
60
Increased
12
Reduced
17
Closed
64
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$36.3M |
| 2 |
Microsoft
MSFT
|
+$22.3M |
| 3 |
TWTR
Twitter, Inc.
TWTR
|
+$18M |
| 4 |
Cisco
CSCO
|
+$14.9M |
| 5 |
NetApp
NTAP
|
+$12.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$22.3M |
| 2 |
Check Point Software Technologies
CHKP
|
+$19.6M |
| 3 |
Citigroup
C
|
+$16.7M |
| 4 |
Wells Fargo
WFC
|
+$16.2M |
| 5 |
Goldman Sachs
GS
|
+$12.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.01% |
| 2 | Financials | 11.46% |
| 3 | Communication Services | 3.58% |
| 4 | Industrials | 3.01% |
| 5 | Consumer Discretionary | 3% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
JPMorgan Chase
JPM
$939B
| $13M | 1% |
225,000
-25,000
| -10% | -$1.41M |
|
|
27
NetApp
NTAP
$32.9B
| $12.8M | 0.99% |
+350,000
| New | +$12.5M |
|
28
CALL
PACCAR
PCAR
$69.6B
| $12.6M | 0.97% |
+300,000
| New | +$12.8M |
|
29
H&R Block
HRB
$5.18B
| $11.7M | 0.91% |
350,000
-25,000
| -7% | -$744K |
|
30
PUT
Las Vegas Sands
LVS
$30.5B
| $11.4M | 0.88% |
+150,000
| New | +$11.4M |
|
31
Ally Financial
ALLY
$13.1B
| $11.4M | 0.88% |
+475,000
| New | +$11.5M |
|
|
SPWR
32
DELISTED
SunPower Corporation Common Stock
SPWR
| $11.3M | 0.87% |
419,925
+332,122
| +378% | +$7.27M |
|
|
LVLT
33
DELISTED
Level 3 Communications Inc
LVLT
| $11M | 0.85% |
+250,000
| New | +$10.5M |
|
34
American International
AIG
$41.9B
| $10.9M | 0.84% |
200,000
-100,000
| -33% | -$5.29M |
|
|
TWTR
35
CALL
DELISTED
Twitter, Inc.
TWTR
| $10.2M | 0.79% |
+250,000
| New | +$9.46M |
|
|
TIBX
36
CALL
DELISTED
TIBCO SOFTWARE INC
TIBX
| $10.1M | 0.78% |
+500,000
| New | +$9.97M |
|
37
CALL
Blackstone
BX
$104B
| $10M | 0.78% |
305,700
+203,800
| +200% | +$6.29M |
|
|
38
Blackstone
BX
$104B
| $10M | 0.78% |
305,700
-50,950
| -14% | -$1.57M |
|
|
GRMN
39
Garmin
GRMN
$46.9B
| $9.74M | 0.75% |
160,000
-90,000
| -36% | -$5.17M |
|
40
Dick's Sporting Goods
DKS
$18.4B
| $9.31M | 0.72% |
+200,000
| New | +$9.77M |
|
41
Intuit
INTU
$81.1B
| $9.26M | 0.72% |
+115,000
| New | +$8.87M |
|
42
Western Digital
WDC
$179B
| $9.23M | 0.71% |
+132,300
| New | +$8.87M |
|
43
Bank of America
BAC
$435B
| $9.22M | 0.71% |
+600,000
| New | +$9.32M |
|
|
ATVI
44
DELISTED
Activision Blizzard
ATVI
| $8.92M | 0.69% |
+400,000
| New | +$8.22M |
|
|
YHOO
45
DELISTED
Yahoo Inc
YHOO
| $8.78M | 0.68% |
+250,000
| New | +$8.73M |
|
46
CALL
American Airlines Group
AAL
$9.58B
| $8.59M | 0.66% |
+200,000
| New | +$7.8M |
|
|
HAWK
47
CALL
DELISTED
Blackhawk Network Holdings, Inc. Common Stock
HAWK
| $8.47M | 0.65% |
+300,000
| New | +$7.44M |
|
48
PUT
Home Depot
HD
$332B
| $8.1M | 0.63% |
+100,000
| New | +$7.89M |
|
49
Delta Air Lines
DAL
$55.9B
| $7.74M | 0.6% |
200,000
-150,000
| -43% | -$5.66M |
|
50
NextEra Energy
NEE
$187B
| $7.69M | 0.59% |
+300,000
| New | +$7.3M |
|
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Espalier Global Management's Q2 2014 Portfolio in Review
As of Q2 2014, Espalier Global Management held 159 positions worth $1.29B, down 28% from $1.79B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Espalier Global Management withdrew a net $590M in Q2 2014, closing 64 positions and reducing 17 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $22.3M position sold in full.
By sector, the portfolio is most concentrated in Technology at 16% of assets, up from 8.7% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Espalier Global Management opened a new position in Apple worth $39.6M.
- Espalier Global Management's largest Q2 2014 buy was Apple: 1,705,024 shares worth $39.6M.
- Espalier Global Management added most to Cisco in Q2 2014, an estimated $14.9M increase.
- Espalier Global Management's biggest Q2 2014 reduction was Delta Air Lines, cutting an estimated $5.66M.
- Espalier Global Management fully exited Alphabet (Google) Class C in Q2 2014, selling an estimated $22.3M.
- Espalier Global Management's ten largest holdings make up 46% of its $1.29B portfolio in Q2 2014.
- Espalier Global Management opened 60 new positions and closed 64 in Q2 2014.
- Espalier Global Management's portfolio value fell 28% quarter-over-quarter to $1.29B.
Based on Espalier Global Management's 13F filing for Q2 2014, filed 14 Aug 2014.