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FCM
Freshford Capital Management Portfolio holdings
AUM
$292M
1-Year Est. Return
48.67%
This Fund
S&P 500
This Quarter
Est. Return
+10.22%
1 Year Est. Return
+48.67%
3 Year Est. Return
+97.29%
5 Year Est. Return
+99.48%
10 Year Est. Return
+574.38%
AUM
$578M
AUM Growth
+$29.4M
(+5.4%)
Cap. Flow
-$47.9M
Cap. Flow
% of AUM
-8.3%
Top 10 Holdings %
Top 10 Hldgs %
83.8%
Holding
18
New
3
Increased
4
Reduced
9
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LBRDA
Liberty Broadband Class A
LBRDA
|
+$21.7M |
| 2 |
CHNG
Change Healthcare Inc. Common Stock
CHNG
|
+$15.1M |
| 3 |
PRSP
Perspecta Inc. Common Stock
PRSP
|
+$5.55M |
| 4 |
Zimmer Biomet
ZBH
|
+$2.4M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$1.76M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CVET
Covetrus, Inc. Common Stock
CVET
|
+$30.7M |
| 2 |
Resideo Technologies
REZI
|
+$20M |
| 3 |
Charter Communications
CHTR
|
+$14.2M |
| 4 |
CERN
Cerner Corp
CERN
|
+$12.7M |
| 5 |
HMHC
Houghton Mifflin Harcourt Company
HMHC
|
+$9.77M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 26.15% |
| 2 | Communication Services | 25.21% |
| 3 | Industrials | 16.53% |
| 4 | Consumer Staples | 8.55% |
| 5 | Energy | 7.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CVET
1
DELISTED
Covetrus, Inc. Common Stock
CVET
| $108M | 18.68% |
4,422,233
-1,422,165
| -24% | -$30.7M |
|
|
2
Resideo Technologies
REZI
$2.84B
| $95.5M | 16.53% |
8,681,170
-1,580,205
| -15% | -$20M |
|
|
LBRDA
3
DELISTED
Liberty Broadband Class A
LBRDA
| $64.7M | 11.21% |
456,453
+160,275
| +54% | +$21.7M |
|
4
Constellation Brands
STZ
$21.1B
| $49.4M | 8.55% |
260,645
-10,270
| -4% | -$1.87M |
|
5
Cheniere Energy
LNG
$56B
| $44.7M | 7.73% |
965,485
-15,202
| -2% | -$771K |
|
|
LSXMK
6
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $29.2M | 5.06% |
1,139,757
-9,218
| -0.8% | -$250K |
|
7
PUT
Penumbra
PEN
$12.5B
| $25.8M | 4.46% |
+132,500
| New | +$27.9M |
|
|
8
Zimmer Biomet
ZBH
$18.8B
| $25.2M | 4.35% |
190,310
+18,398
| +11% | +$2.4M |
|
|
PRSP
9
DELISTED
Perspecta Inc. Common Stock
PRSP
| $23.7M | 4.11% |
1,220,510
+262,907
| +27% | +$5.55M |
|
|
CERN
10
DELISTED
Cerner Corp
CERN
| $18M | 3.12% |
249,323
-177,755
| -42% | -$12.7M |
|
|
11
Alphabet (Google) Class A
GOOGL
$4.22T
| $17.7M | 3.07% |
242,140
+23,100
| +11% | +$1.76M |
|
|
CHNG
12
DELISTED
Change Healthcare Inc. Common Stock
CHNG
| $17.2M | 2.98% |
+1,187,750
| New | +$15.1M |
|
13
Liberty Media Series C
FWONK
$23.8B
| $17.1M | 2.97% |
488,471
-19,247
| -4% | -$677K |
|
14
Valvoline
VVV
$3.61B
| $16.8M | 2.91% |
884,323
-145,729
| -14% | -$3.01M |
|
|
PPLI
15
People Inc
PPLI
$2.85B
| $16.8M | 2.91% |
257,403
-8,088
| -3% | -$555K |
|
|
PRSP
16
CALL
DELISTED
Perspecta Inc. Common Stock
PRSP
| $7.8M | 1.35% |
+401,300
| New | +$8.47M |
|
|
17
Charter Communications
CHTR
$16.8B
| – | – |
-27,840
| Closed | -$14.2M |
|
|
HMHC
18
DELISTED
Houghton Mifflin Harcourt Company
HMHC
| – | – |
-5,395,008
| Closed | -$9.77M |
|
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Freshford Capital Management's Q3 2020 Portfolio in Review
As of Q3 2020, Freshford Capital Management held 18 positions worth $578M, up 5.4% from $548M the previous quarter. Its ten largest holdings account for 84% of the portfolio.
Freshford Capital Management withdrew a net $47.9M in Q3 2020, closing 2 positions and reducing 9 holdings. Its most notable exit was Charter Communications, an estimated $14.2M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 26% of assets, down from 28% a quarter earlier, followed by Communication Services and Industrials.
Against the trend, Freshford Capital Management opened a new position in Change Healthcare Inc. Common Stock worth $17.2M.
- Freshford Capital Management's largest Q3 2020 buy was Change Healthcare Inc. Common Stock: 1,187,750 shares worth $17.2M.
- Freshford Capital Management added most to Liberty Broadband Class A in Q3 2020, an estimated $21.7M increase.
- Freshford Capital Management's biggest Q3 2020 reduction was Covetrus, Inc. Common Stock, cutting an estimated $30.7M.
- Freshford Capital Management fully exited Charter Communications in Q3 2020, selling an estimated $14.2M.
- Freshford Capital Management's ten largest holdings make up 84% of its $578M portfolio in Q3 2020.
- Freshford Capital Management opened 3 new positions and closed 2 in Q3 2020.
- Freshford Capital Management's portfolio value rose 5.4% quarter-over-quarter to $578M.
Based on Freshford Capital Management's 13F filing for Q3 2020, filed 13 Nov 2020.