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LB Partners Portfolio holdings

AUM $112M
1-Year Est. Return 11%
This Fund
S&P 500
This Quarter Est. Return
+16.85%
1 Year Est. Return
+11%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$120M
AUM Growth
+$22.1M
Cap. Flow
+$7.39M
Cap. Flow %
6.15%
Top 10 Hldgs %
82.65%
Holding
27
New
5
Increased
3
Reduced
4
Closed
1

Top Buys

Rank Stock Value
1
RELY icon
Remitly
RELY
+$7.34M
2
PTON icon
Peloton Interactive
PTON
+$2.13M
3
TH icon
Target Hospitality
TH
+$1.4M
4
COF icon
Capital One
COF
+$1.26M
5
SPT icon
Sprout Social
SPT
+$805K

Top Sells

Rank Stock Value
1
SPOT icon
Spotify
SPOT
+$3.16M
2
ESTC icon
Elastic
ESTC
+$752K
3
GOGO icon
Gogo Inc
GOGO
+$716K
4
BSM icon
Black Stone Minerals
BSM
+$477K
5
DFS
Discover Financial Services
DFS
+$312K

Sector Composition

Rank Sector Weight
1 Communication Services 63.2%
2 Financials 15.54%
3 Consumer Discretionary 6.23%
4 Technology 5.37%
5 Real Estate 2.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WOW
1
DELISTED
WideOpenWest
WOW
$35.6M 29.67%
6,587,126
+135,975
+2% +$603K
GOGO icon
2
Gogo Inc
GOGO
$515M
$17.5M 14.58%
1,820,000
-75,606
-4% -$716K
TIGO icon
3
Millicom
TIGO
$15.8B
$12.3M 10.26%
502,000
+2,000
+0.4% +$44.8K
AXP icon
4
American Express
AXP
$223B
$7.41M 6.17%
32,000
– –
RELY icon
5
Remitly
RELY
$4.74B
$5.74M 4.78%
+473,270
New +$7.34M
BABA icon
6
Alibaba
BABA
$269B
$5.47M 4.56%
76,000
– –
DFS
7
DELISTED
Discover Financial Services
DFS
$4.75M 3.96%
36,350
-2,500
-6% -$312K
FRPH icon
8
FRP Holdings
FRPH
$449M
$3.59M 2.99%
125,802
– –
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$3.91T
$3.46M 2.88%
19,000
– –
LQDA icon
10
Liquidia Corp
LQDA
$7.67B
$3.4M 2.83%
282,947
– –
GOOG icon
11
Alphabet (Google) Class C
GOOG
$3.9T
$3.15M 2.63%
17,200
– –
OPFI icon
12
OppFi
OPFI
$770M
$3.12M 2.6%
920,970
+11,948
+1% +$36.3K
LBRDK icon
13
Liberty Broadband Class C
LBRDK
$4.15B
$2.74M 2.28%
50,000
– –
PTON icon
14
Peloton Interactive
PTON
$2.63B
$2.01M 1.67%
+595,014
New +$2.13M
BSM icon
15
Black Stone Minerals
BSM
$3.11B
$1.86M 1.55%
119,000
-29,800
-20% -$477K
KKR icon
16
KKR & Co
KKR
$89.2B
$1.8M 1.5%
17,100
– –
COF icon
17
Capital One
COF
$124B
$1.25M 1.04%
+9,000
New +$1.26M
TH icon
18
Target Hospitality
TH
$1.61B
$1.17M 0.97%
+134,000
New +$1.4M
SPOT icon
19
Spotify
SPOT
$99.2B
$1.1M 0.91%
3,500
-10,500
-75% -$3.16M
SD icon
20
SandRidge Energy
SD
$510M
$1.01M 0.84%
78,300
– –
SPT icon
21
Sprout Social
SPT
$455M
$714K 0.59%
+20,000
New +$805K
SPGI icon
22
S&P Global
SPGI
$126B
$335K 0.28%
750
– –
SGOL icon
23
abrdn Physical Gold Shares ETF
SGOL
$6.92B
$244K 0.2%
11,000
– –
TFPM icon
24
Triple Flag Precious Metals
TFPM
$6B
$231K 0.19%
14,913
– –
MTA
25
Metalla Royalty & Streaming
MTA
$704M
$100K 0.08%
36,000
– –
1
2

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LB Partners's Q2 2024 Portfolio in Review

As of Q2 2024, LB Partners held 27 positions worth $120M, up 23% from $98M the previous quarter. Its ten largest holdings account for 83% of the portfolio.

LB Partners deployed $7.39M of net new capital in Q2 2024, opening 5 new positions and adding to 3 existing holdings. Its largest new stake was Remitly: 473,270 shares worth $5.74M.

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

On the sell side, the largest reduction was Spotify, an estimated $3.16M trimmed.

  • LB Partners's largest Q2 2024 buy was Remitly: 473,270 shares worth $5.74M.
  • LB Partners added most to WideOpenWest in Q2 2024, an estimated $603K increase.
  • LB Partners's biggest Q2 2024 reduction was Spotify, cutting an estimated $3.16M.
  • LB Partners fully exited Elastic in Q2 2024, selling an estimated $752K.
  • LB Partners's ten largest holdings make up 83% of its $120M portfolio in Q2 2024.
  • LB Partners opened 5 new positions and closed 1 in Q2 2024.
  • LB Partners's portfolio value rose 23% quarter-over-quarter to $120M.

Based on LB Partners's 13F filing for Q2 2024, filed 29 Jul 2024.