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IM
Islet Management Portfolio holdings
AUM
$49.1M
1-Year Est. Return
17.59%
This Fund
S&P 500
This Quarter
Est. Return
-13.61%
1 Year Est. Return
+17.59%
3 Year Est. Return
+74.89%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$685M
AUM Growth
-$389M
(-36%)
Cap. Flow
-$224M
Cap. Flow
% of AUM
-32.74%
Top 10 Holdings %
Top 10 Hldgs %
34.9%
Holding
159
New
62
Increased
14
Reduced
19
Closed
57
Top Buys
| 1 |
AGN
Allergan plc
AGN
|
+$26.9M |
| 2 |
Grocery Outlet
GO
|
+$17.9M |
| 3 |
TIF
Tiffany & Co.
TIF
|
+$15.1M |
| 4 |
Xerox
XRX
|
+$14.3M |
| 5 |
Microsoft
MSFT
|
+$14M |
Top Sells
| 1 |
TransDigm Group
TDG
|
+$9.8M |
| 2 |
Canadian Solar
CSIQ
|
+$9.39M |
| 3 |
Baidu
BIDU
|
+$8.85M |
| 4 |
ECHO
EchoStar
ECHO
|
+$8.66M |
| 5 |
Alibaba
BABA
|
+$8.48M |
Sector Composition
| 1 | Technology | 17.65% |
| 2 | Consumer Discretionary | 11.8% |
| 3 | Consumer Staples | 7.23% |
| 4 | Communication Services | 6.56% |
| 5 | Financials | 6.43% |
| 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
| $103M | 15.05% |
400,000
-650,000
| -62% | -$198M |
|
|
AGN
2
DELISTED
Allergan plc
AGN
| $25.3M | 3.69% |
+142,700
| New | +$26.9M |
|
|
3
Grocery Outlet
GO
$934M
| $19.9M | 2.91% |
580,000
+550,000
| +1,833% | +$17.9M |
|
|
TIF
4
DELISTED
Tiffany & Co.
TIF
| $14.9M | 2.17% |
+115,000
| New | +$15.1M |
|
5
Equinix
EQIX
$101B
| $14.1M | 2.05% |
+22,500
| New | +$13.5M |
|
|
6
Microsoft
MSFT
$2.93T
| $13.4M | 1.96% |
+85,000
| New | +$14M |
|
7
Amazon
AMZN
$2.66T
| $12.7M | 1.85% |
130,000
+40,000
| +44% | +$3.87M |
|
8
NextEra Energy
NEE
$185B
| $12M | 1.76% |
+200,000
| New | +$12.6M |
|
|
9
Xerox
XRX
$362M
| $11.9M | 1.74% |
+450,000
| New | +$14.3M |
|
10
Guardant Health
GH
$20.7B
| $11.8M | 1.73% |
170,000
| – | – |
|
11
Fair Isaac
FICO
$29.2B
| $11.5M | 1.68% |
37,500
+10,500
| +39% | +$3.87M |
|
12
PUT
iShares Russell 2000 ETF
IWM
$82.2B
| $11.4M | 1.67% |
+100,000
| New | +$14.9M |
|
|
ZNGA
13
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $11.1M | 1.62% |
+1,625,000
| New | +$10.7M |
|
14
Charter Communications
CHTR
$16.2B
| $10.9M | 1.59% |
+25,000
| New | +$12.2M |
|
15
CALL
Cannae Holdings
CNNE
$657M
| $10.9M | 1.59% |
+325,000
| New | +$12.1M |
|
16
Tradeweb Markets
TW
$21.3B
| $10.5M | 1.53% |
250,000
+10,000
| +4% | +$458K |
|
17
CALL
JD.com
JD
$40B
| $10.1M | 1.48% |
+250,000
| New | +$9.99M |
|
18
Victory Capital Holdings
VCTR
$6.16B
| $8.8M | 1.28% |
+537,900
| New | +$10.6M |
|
19
GDS Holdings
GDS
$6.24B
| $8.75M | 1.28% |
+150,968
| New | +$8.42M |
|
20
Mercado Libre
MELI
$92B
| $8.55M | 1.25% |
+17,500
| New | +$10.8M |
|
21
Fidelity National Information Services
FIS
$21.7B
| $8.52M | 1.24% |
+70,000
| New | +$9.72M |
|
22
Zscaler
ZS
$24.2B
| $8.16M | 1.19% |
+134,000
| New | +$7.38M |
|
|
TWNK
23
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $7.83M | 1.14% |
734,400
+100,000
| +16% | +$1.27M |
|
24
American Tower
AMT
$79.2B
| $7.62M | 1.11% |
+35,000
| New | +$8.15M |
|
25
O'Reilly Automotive
ORLY
$71.3B
| $7.53M | 1.1% |
+375,000
| New | +$9.58M |
|
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Islet Management's Q1 2020 Portfolio in Review
As of Q1 2020, Islet Management held 159 positions worth $685M, down 36% from $1.07B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Islet Management withdrew a net $224M in Q1 2020, closing 57 positions and reducing 19 holdings. Its most notable exit was TransDigm Group, an estimated $9.8M position sold in full.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 8.8% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.
Against the trend, Islet Management opened a new position in Allergan plc worth $25.3M.
- Islet Management's largest Q1 2020 buy was Allergan plc: 142,700 shares worth $25.3M.
- Islet Management added most to Grocery Outlet in Q1 2020, an estimated $17.9M increase.
- Islet Management's biggest Q1 2020 reduction was CrowdStrike, cutting an estimated $6.49M.
- Islet Management fully exited TransDigm Group in Q1 2020, selling an estimated $9.8M.
- Islet Management's ten largest holdings make up 35% of its $685M portfolio in Q1 2020.
- Islet Management opened 62 new positions and closed 57 in Q1 2020.
- Islet Management's portfolio value fell 36% quarter-over-quarter to $685M.
Based on Islet Management's 13F filing for Q1 2020, filed 15 May 2020.