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LB Partners Portfolio holdings

AUM $112M
1-Year Est. Return 11%
This Fund
S&P 500
This Quarter Est. Return
-0.21%
1 Year Est. Return
+11%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$98M
AUM Growth
+$6.85M
Cap. Flow
+$5.21M
Cap. Flow %
5.31%
Top 10 Hldgs %
84.25%
Holding
30
New
2
Increased
4
Reduced
4
Closed
8

Top Buys

Rank Stock Value
1
WOW
WideOpenWest
WOW
+$12.4M
2
DFS
Discover Financial Services
DFS
+$4.45M
3
GOGO icon
Gogo Inc
GOGO
+$4.04M
4
LBRDK icon
Liberty Broadband Class C
LBRDK
+$3.31M
5
OPFI icon
OppFi
OPFI
+$2M

Top Sells

Rank Stock Value
1
RELY icon
Remitly
RELY
+$5.63M
2
CHTR icon
Charter Communications
CHTR
+$3.89M
3
SAVE
Spirit Airlines, Inc.
SAVE
+$3.15M
4
SPOT icon
Spotify
SPOT
+$2.58M
5
AXP icon
American Express
AXP
+$1.66M

Sector Composition

Rank Sector Weight
1 Communication Services 63.4%
2 Financials 17.03%
3 Consumer Discretionary 5.61%
4 Healthcare 4.26%
5 Real Estate 3.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WOW
1
DELISTED
WideOpenWest
WOW
$23.4M 23.82%
6,451,151
+3,475,190
+117% +$12.4M
GOGO icon
2
Gogo Inc
GOGO
$515M
$16.6M 16.98%
1,895,606
+448,918
+31% +$4.04M
TIGO icon
3
Millicom
TIGO
$15.8B
$10.1M 10.32%
500,000
– –
AXP icon
4
American Express
AXP
$223B
$7.29M 7.43%
32,000
-8,000
-20% -$1.66M
BABA icon
5
Alibaba
BABA
$269B
$5.5M 5.61%
76,000
+1,000
+1% +$73.3K
DFS
6
DELISTED
Discover Financial Services
DFS
$5.09M 5.2%
+38,850
New +$4.45M
LQDA icon
7
Liquidia Corp
LQDA
$7.67B
$4.17M 4.26%
282,947
– –
FRPH icon
8
FRP Holdings
FRPH
$449M
$3.86M 3.94%
125,802
– –
SPOT icon
9
Spotify
SPOT
$99.2B
$3.69M 3.77%
14,000
-11,000
-44% -$2.58M
GOOGL icon
10
Alphabet (Google) Class A
GOOGL
$3.91T
$2.87M 2.93%
19,000
– –
LBRDK icon
11
Liberty Broadband Class C
LBRDK
$4.15B
$2.86M 2.92%
+50,000
New +$3.31M
GOOG icon
12
Alphabet (Google) Class C
GOOG
$3.9T
$2.62M 2.67%
17,200
– –
BSM icon
13
Black Stone Minerals
BSM
$3.11B
$2.38M 2.43%
148,800
-23,018
-13% -$364K
OPFI icon
14
OppFi
OPFI
$770M
$2.27M 2.32%
909,022
+589,022
+184% +$2M
KKR icon
15
KKR & Co
KKR
$89.2B
$1.72M 1.75%
17,100
– –
SD icon
16
SandRidge Energy
SD
$510M
$1.14M 1.16%
78,300
– –
SPT icon
17
PUT
Sprout Social
SPT
$455M
– –
0
– –
ESTC icon
18
Elastic
ESTC
$6.1B
$752K 0.77%
7,500
-2,500
-25% -$288K
SPGI icon
19
S&P Global
SPGI
$126B
$319K 0.33%
750
– –
SGOL icon
20
abrdn Physical Gold Shares ETF
SGOL
$6.92B
$234K 0.24%
11,000
– –
TFPM icon
21
Triple Flag Precious Metals
TFPM
$6B
$215K 0.22%
14,913
– –
MTA
22
Metalla Royalty & Streaming
MTA
$704M
$112K 0.11%
36,000
– –
AGNC icon
23
AGNC Investment
AGNC
$12.3B
– –
-10,000
Closed -$235K
AR icon
24
Antero Resources
AR
$10.9B
– –
-20,000
Closed -$454K
OPTU
25
Optimum Communications Inc
OPTU
$316M
– –
-503,500
Closed -$1.64M
1
2

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LB Partners's Q1 2024 Portfolio in Review

As of Q1 2024, LB Partners held 30 positions worth $98M, up 7.5% from $91.2M the previous quarter. Its ten largest holdings account for 84% of the portfolio.

LB Partners deployed $5.21M of net new capital in Q1 2024, opening 2 new positions and adding to 4 existing holdings. Its largest new stake was Discover Financial Services: 38,850 shares worth $5.09M.

By sector, the portfolio is most concentrated in Communication Services at 63% of assets, up from 56% a quarter earlier, followed by Financials and Consumer Discretionary.

On the sell side, the largest reduction was Spotify, an estimated $2.58M trimmed.

  • LB Partners's largest Q1 2024 buy was Discover Financial Services: 38,850 shares worth $5.09M.
  • LB Partners added most to WideOpenWest in Q1 2024, an estimated $12.4M increase.
  • LB Partners's biggest Q1 2024 reduction was Spotify, cutting an estimated $2.58M.
  • LB Partners fully exited Remitly in Q1 2024, selling an estimated $5.63M.
  • LB Partners's ten largest holdings make up 84% of its $98M portfolio in Q1 2024.
  • LB Partners opened 2 new positions and closed 8 in Q1 2024.
  • LB Partners's portfolio value rose 7.5% quarter-over-quarter to $98M.

Based on LB Partners's 13F filing for Q1 2024, filed 1 May 2024.