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Islet Management Portfolio holdings
AUM
$49.1M
1-Year Est. Return
17.59%
This Fund
S&P 500
This Quarter
Est. Return
+0.24%
1 Year Est. Return
+17.59%
3 Year Est. Return
+74.89%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$800M
AUM Growth
-$73.9M
(-8.5%)
Cap. Flow
-$62.9M
Cap. Flow
% of AUM
-7.86%
Top 10 Holdings %
Top 10 Hldgs %
55.91%
Holding
120
New
36
Increased
16
Reduced
10
Closed
56
Top Buys
| 1 |
Norfolk Southern
NSC
|
+$18.4M |
| 2 |
Baker Hughes
BKR
|
+$18.3M |
| 3 |
Adobe
ADBE
|
+$17.5M |
| 4 |
Microsoft
MSFT
|
+$17.2M |
| 5 |
Middleby
MIDD
|
+$12.5M |
Top Sells
| 1 |
Walt Disney
DIS
|
+$14M |
| 2 |
Uber
UBER
|
+$13.9M |
| 3 |
Petrobras
PBR
|
+$13.6M |
| 4 |
Live Nation Entertainment
LYV
|
+$11.9M |
| 5 |
Alibaba
BABA
|
+$11.9M |
Sector Composition
| 1 | Industrials | 15.08% |
| 2 | Technology | 13.2% |
| 3 | Communication Services | 6.95% |
| 4 | Financials | 5% |
| 5 | Energy | 3.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$774B
| $193M | 24.1% |
650,000
+200,000
| +44% | +$59.1M |
|
2
PUT
Invesco QQQ Trust
QQQ
$466B
| $56.6M | 7.08% |
300,000
| – | – |
|
|
3
CALL
Middleby
MIDD
$6.25B
| $29.2M | 3.65% |
+250,000
| New | +$30.7M |
|
4
Boeing
BA
$169B
| $28.6M | 3.57% |
75,100
+100
| +0.1% | +$35.7K |
|
5
TransDigm Group
TDG
$68.9B
| $26M | 3.25% |
50,000
-16,000
| -24% | -$8.2M |
|
|
WWE
6
CALL
DELISTED
World Wrestling Entertainment
WWE
| $24.9M | 3.11% |
350,000
+300,000
| +600% | +$21.5M |
|
|
7
Middleby
MIDD
$6.25B
| $23.6M | 2.94% |
201,500
+101,500
| +102% | +$12.5M |
|
|
8
CALL
Boeing
BA
$169B
| $22.8M | 2.85% |
60,000
-40,000
| -40% | -$14.3M |
|
|
9
Baker Hughes
BKR
$56.1B
| $22.7M | 2.84% |
979,790
+779,790
| +390% | +$18.3M |
|
10
Netflix
NFLX
$313B
| $20.1M | 2.51% |
750,000
+200,000
| +36% | +$6.26M |
|
11
Fair Isaac
FICO
$28.8B
| $19.7M | 2.47% |
65,000
+32,500
| +100% | +$11M |
|
|
12
Adobe
ADBE
$93.5B
| $19.3M | 2.42% |
70,000
+60,000
| +600% | +$17.5M |
|
|
13
Norfolk Southern
NSC
$75.9B
| $18M | 2.24% |
+100,000
| New | +$18.4M |
|
|
14
Microsoft
MSFT
$2.98T
| $17.4M | 2.17% |
+125,000
| New | +$17.2M |
|
|
OPTU
15
Optimum Communications Inc
OPTU
$348M
| $14.3M | 1.79% |
500,000
+250,000
| +100% | +$6.81M |
|
16
Mastercard
MA
$487B
| $12.2M | 1.53% |
+45,000
| New | +$12.4M |
|
17
Frontdoor
FTDR
$5.33B
| $12.1M | 1.52% |
250,000
+125,000
| +100% | +$6.04M |
|
18
PUT
iShares China Large-Cap ETF
FXI
$4.6B
| $11.9M | 1.49% |
+300,000
| New | +$12.2M |
|
|
WWE
19
DELISTED
World Wrestling Entertainment
WWE
| $10.7M | 1.33% |
150,000
-115,000
| -43% | -$8.24M |
|
20
Invitation Homes
INVH
$18.1B
| $10.5M | 1.31% |
+354,000
| New | +$9.96M |
|
|
FBM
21
DELISTED
Foundation Building Materials, Inc. Common Stock
FBM
| $10.2M | 1.27% |
+655,400
| New | +$11.4M |
|
|
CONE
22
DELISTED
CyrusOne Inc Common Stock
CONE
| $9.49M | 1.19% |
120,000
| – | – |
|
|
SDC
23
DELISTED
SmileDirectClub, Inc. Class A Common Stock
SDC
| $9.02M | 1.13% |
+650,000
| New | +$10.8M |
|
24
Credicorp
BAP
$30.8B
| $8.97M | 1.12% |
+43,057
| New | +$9.33M |
|
25
Sherwin-Williams
SHW
$83.4B
| $8.25M | 1.03% |
+45,000
| New | +$7.65M |
|
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UCIG
VCM
FGIM
DCM
WGRM
Islet Management's Q3 2019 Portfolio in Review
As of Q3 2019, Islet Management held 120 positions worth $800M, down 8.5% from $874M the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Islet Management withdrew a net $62.9M in Q3 2019, closing 56 positions and reducing 10 holdings. Its most notable exit was Walt Disney, an estimated $14M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 15% of assets, up from 12% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Islet Management opened a new position in Norfolk Southern worth $18M.
- Islet Management's largest Q3 2019 buy was Norfolk Southern: 100,000 shares worth $18M.
- Islet Management added most to Baker Hughes in Q3 2019, an estimated $18.3M increase.
- Islet Management's biggest Q3 2019 reduction was ServiceNow, cutting an estimated $10.3M.
- Islet Management fully exited Walt Disney in Q3 2019, selling an estimated $14M.
- Islet Management's ten largest holdings make up 56% of its $800M portfolio in Q3 2019.
- Islet Management opened 36 new positions and closed 56 in Q3 2019.
- Islet Management's portfolio value fell 8.5% quarter-over-quarter to $800M.
Based on Islet Management's 13F filing for Q3 2019, filed 14 Nov 2019.