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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
Cap. Flow
-$590M
Cap. Flow %
-45.68%
Top 10 Hldgs %
46.33%
Holding
159
New
60
Increased
12
Reduced
17
Closed
64

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$36.3M
2
MSFT icon
Microsoft
MSFT
+$22.3M
3
TWTR
Twitter, Inc.
TWTR
+$18M
4
CSCO icon
Cisco
CSCO
+$14.9M
5
NTAP icon
NetApp
NTAP
+$12.5M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$22.3M
2
CHKP icon
Check Point Software Technologies
CHKP
+$19.6M
3
C icon
Citigroup
C
+$16.7M
4
WFC icon
Wells Fargo
WFC
+$16.2M
5
GS icon
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
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$196M 15.14%
1,000,000
-2,750,000
-73% -$523M
QCOR
2
PUT
DELISTED
QUESTCOR PHARMA INC
QCOR
$187M 14.45%
2,019,800
+735,000
+57% +$62.9M
AAPL icon
3
Apple
AAPL
$4.89T
$39.6M 3.06%
+1,705,024
New +$36.3M
BLK icon
4
PUT
Blackrock
BLK
$164B
$32M 2.47%
+100,000
New +$30.6M
CAT icon
5
PUT
Caterpillar
CAT
$409B
$27.2M 2.1%
+250,000
New +$26.2M
MON
6
CALL
DELISTED
Monsanto Co
MON
$24.9M 1.93%
+200,000
New +$23.4M
DFS
7
DELISTED
Discover Financial Services
DFS
$24.8M 1.92%
400,000
-25,000
-6% -$1.46M
CSCO icon
8
Cisco
CSCO
$450B
$23M 1.78%
925,000
+625,000
+208% +$14.9M
MSFT icon
9
Microsoft
MSFT
$2.84T
$22.9M 1.77%
+550,000
New +$22.3M
SUNE
10
DELISTED
SUNEDISON, INC COM
SUNE
$22M 1.7%
973,100
+573,100
+143% +$11.1M
BFH icon
11
CALL
Bread Financial
BFH
$4.21B
$21.8M 1.69%
+97,108
New +$19.8M
V icon
12
PUT
Visa
V
$677B
$21.1M 1.63%
+400,000
New +$20.9M
MSFT icon
13
PUT
Microsoft
MSFT
$2.84T
$20.9M 1.61%
+500,000
New +$20.2M
WYNN icon
14
PUT
Wynn Resorts
WYNN
$10.1B
$20.8M 1.61%
+100,000
New +$20.7M
CSCO icon
15
PUT
Cisco
CSCO
$450B
$19.9M 1.54%
+800,000
New +$19.1M
TWTR
16
DELISTED
Twitter, Inc.
TWTR
$19.5M 1.51%
+475,000
New +$18M
IBM icon
17
PUT
IBM
IBM
$202B
$18.1M 1.4%
104,600
-104,600
-50% -$18.8M
EXPE icon
18
Expedia Group
EXPE
$31.2B
$17.7M 1.37%
225,000
+25,000
+13% +$1.82M
AMTD
19
DELISTED
TD Ameritrade Holding Corp
AMTD
$17.2M 1.33%
550,000
+100,000
+22% +$3.1M
VOYA icon
20
Voya Financial
VOYA
$8.94B
$16.6M 1.28%
456,861
-18,139
-4% -$648K
FSLR icon
21
First Solar
FSLR
$21.8B
$14.2M 1.1%
200,000
+25,000
+14% +$1.65M
AAL icon
22
American Airlines Group
AAL
$9.58B
$14M 1.08%
325,000
+25,000
+8% +$975K
ETFC
23
DELISTED
E*Trade Financial Corporation
ETFC
$13.8M 1.07%
650,000
+125,000
+24% +$2.63M
META icon
24
Meta Platforms (Facebook)
META
$1.51T
$13.5M 1.04%
+200,000
New +$12.3M
PFE icon
25
CALL
Pfizer
PFE
$140B
$13.2M 1.02%
+468,292
New +$13.3M
1
2 3 4 5

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DCM
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AFWA
Ancora Family Wealth Advisors Cleveland, Ohio $293M AUM 15.45% 1-Year Est. Return
EDRS
Edmond de Rothschild (Suisse) Geneva, Switzerland $325M AUM 9.15% 1-Year Est. Return
AT
Acadia Trust Portland, Maine $330M AUM 22.42% 1-Year Est. Return
ACM
Argentus Capital Management Dallas, Texas $284M AUM 12.72% 1-Year Est. Return
MHAM
Monroe Hall Asset Management New York $345M AUM 6.84% 1-Year Est. Return
ZBI
Ziff Brothers Investments New York $267M AUM 49.36% 1-Year Est. Return
TI
Tyrian Investments New York $260M AUM 1.94% 1-Year Est. Return

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.