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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
-4.92%
1 Year Est. Return
+14.19%
3 Year Est. Return
+97.16%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$90.6M
AUM Growth
-$664M
Cap. Flow
-$659M
Cap. Flow %
-727.54%
Top 10 Hldgs %
62.9%
Holding
78
New
20
Increased
1
Reduced
10
Closed
45

Top Buys

Rank Stock Value
1
PAY
Verifone Systems Inc
PAY
+$2.98M
2
MA icon
Mastercard
MA
+$2.36M
3
EXPE icon
Expedia Group
EXPE
+$2.3M
4
CY
Cypress Semiconductor
CY
+$2.27M
5
FDC
First Data Corporation
FDC
+$2.17M

Top Sells

Rank Stock Value
1
NFLX icon
Netflix
NFLX
+$5.28M
2
SYF icon
Synchrony
SYF
+$3.4M
3
MJN
Mead Johnson Nutrition Company
MJN
+$3.19M
4
SCHW
Charles Schwab
SCHW
+$2.8M
5
NOC icon
Northrop Grumman
NOC
+$2.47M

Sector Composition

Rank Sector Weight
1 Financials 14.44%
2 Technology 11.99%
3 Communication Services 3.03%
4 Consumer Discretionary 2.49%
5 Industrials 2.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BABA icon
1
PUT
Alibaba
BABA
$269B
$12.7M 13.99%
159,400
-125,600
-44% -$9.83M
BKNG icon
2
CALL
Booking.com
BKNG
$138B
$8.74M 9.64%
+175,000
New +$9.08M
MA icon
3
CALL
Mastercard
MA
$477B
$8.3M 9.16%
94,300
-5,700
-6% -$544K
XLF icon
4
CALL
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
$5.39M 5.95%
+268,611
New +$5.44M
DHR icon
5
CALL
Danaher
DHR
$135B
$4.76M 5.25%
+70,077
New +$4.58M
NFLX icon
6
CALL
Netflix
NFLX
$292B
$4.57M 5.05%
500,000
– –
CAVM
7
CALL
DELISTED
Cavium, Inc.
CAVM
$3.86M 4.26%
+100,000
New +$4.95M
V icon
8
CALL
Visa
V
$677B
$3.49M 3.85%
47,100
-2,900
-6% -$227K
CTSH icon
9
PUT
Cognizant
CTSH
$21.5B
$2.7M 2.97%
+47,100
New +$2.85M
V icon
10
Visa
V
$677B
$2.52M 2.78%
33,945
-28,555
-46% -$2.24M
CY
11
DELISTED
Cypress Semiconductor
CY
$2.51M 2.77%
+237,867
New +$2.27M
EXPE icon
12
Expedia Group
EXPE
$31.2B
$2.25M 2.49%
+21,195
New +$2.3M
PAY
13
DELISTED
Verifone Systems Inc
PAY
$2.19M 2.41%
+117,865
New +$2.98M
MA icon
14
Mastercard
MA
$477B
$2.18M 2.4%
+24,750
New +$2.36M
JPM icon
15
JPMorgan Chase
JPM
$939B
$2.11M 2.33%
33,944
-16,056
-32% -$1M
FDC
16
DELISTED
First Data Corporation
FDC
$2M 2.21%
+181,007
New +$2.17M
BAC icon
17
Bank of America
BAC
$435B
$1.99M 2.19%
149,791
-50,209
-25% -$705K
LRCX icon
18
CALL
Lam Research
LRCX
$382B
$1.98M 2.19%
+236,000
New +$1.9M
LRCX icon
19
Lam Research
LRCX
$382B
$1.98M 2.19%
+235,720
New +$1.89M
NXPI icon
20
NXP Semiconductors
NXPI
$68B
$1.85M 2.04%
23,572
-16,428
-41% -$1.41M
SYF icon
21
Synchrony
SYF
$23.7B
$1.79M 1.97%
70,700
-116,800
-62% -$3.4M
ETFC
22
DELISTED
E*Trade Financial Corporation
ETFC
$1.66M 1.83%
+70,717
New +$1.79M
ORBC
23
DELISTED
ORBCOMM, Inc.
ORBC
$1.52M 1.68%
153,298
+15,798
+11% +$152K
SHOP icon
24
CALL
Shopify
SHOP
$148B
$1.45M 1.6%
471,000
-29,000
-6% -$84.7K
EPAY
25
DELISTED
Bottomline Technologies Inc
EPAY
$1.27M 1.4%
+59,024
New +$1.54M
1
2 3 4

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EDRS
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AT
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ACM
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MHAM
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ZBI
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Espalier Global Management's Q2 2016 Portfolio in Review

As of Q2 2016, Espalier Global Management held 78 positions worth $90.6M, down 88% from $755M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Espalier Global Management withdrew a net $659M in Q2 2016, closing 45 positions and reducing 10 holdings. Its most notable exit was Netflix, an estimated $5.28M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 3.6% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Espalier Global Management opened a new position in Verifone Systems Inc worth $2.19M.

  • Espalier Global Management's largest Q2 2016 buy was Verifone Systems Inc: 117,865 shares worth $2.19M.
  • Espalier Global Management added most to ORBCOMM, Inc. in Q2 2016, an estimated $152K increase.
  • Espalier Global Management's biggest Q2 2016 reduction was Synchrony, cutting an estimated $3.4M.
  • Espalier Global Management fully exited Netflix in Q2 2016, selling an estimated $5.28M.
  • Espalier Global Management's ten largest holdings make up 63% of its $90.6M portfolio in Q2 2016.
  • Espalier Global Management opened 20 new positions and closed 45 in Q2 2016.
  • Espalier Global Management's portfolio value fell 88% quarter-over-quarter to $90.6M.

Based on Espalier Global Management's 13F filing for Q2 2016, filed 12 Aug 2016.