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Palestra Capital Management Portfolio holdings

AUM $2.57B
1-Year Est. Return 29.93%
This Fund
S&P 500
This Quarter Est. Return
+12.6%
1 Year Est. Return
+29.93%
3 Year Est. Return
+164.38%
5 Year Est. Return
+171.56%
10 Year Est. Return
+984.02%
AUM
$4.76B
AUM Growth
-$314M
Cap. Flow
-$641M
Cap. Flow %
-13.46%
Top 10 Hldgs %
55.97%
Holding
45
New
15
Increased
5
Reduced
10
Closed
14

Top Buys

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$209M
2
GM icon
General Motors
GM
+$176M
3
BFH icon
Bread Financial
BFH
+$155M
4
XYZ
Block Inc
XYZ
+$155M
5
ENTG icon
Entegris
ENTG
+$143M

Top Sells

Rank Stock Value
1
STZ icon
Constellation Brands
STZ
+$193M
2
CPAY icon
Corpay
CPAY
+$177M
3
ADI icon
Analog Devices
ADI
+$167M
4
LBRDK icon
Liberty Broadband Class C
LBRDK
+$163M
5
AMD icon
Advanced Micro Devices
AMD
+$153M

Sector Composition

Rank Sector Weight
1 Technology 34.11%
2 Consumer Discretionary 21.06%
3 Communication Services 18.16%
4 Financials 11.51%
5 Industrials 6.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSFT icon
1
Microsoft
MSFT
$2.96T
$340M 7.14%
1,443,072
+82,400
+6% +$19.1M
GOOGL icon
2
Alphabet (Google) Class A
GOOGL
$4.1T
$323M 6.77%
3,129,340
-706,800
-18% -$69.8M
FIS icon
3
Fidelity National Information Services
FIS
$23.3B
$301M 6.32%
2,143,073
-30,470
-1% -$4.16M
DISH
4
DELISTED
DISH Network Corp.
DISH
$291M 6.11%
8,041,527
-1,651,078
-17% -$55M
AVTR icon
5
Avantor
AVTR
$8.35B
$281M 5.9%
9,718,195
+886,699
+10% +$25.6M
OPTU
6
Optimum Communications Inc
OPTU
$300M
$252M 5.28%
7,734,636
-1,027,086
-12% -$35.8M
NUAN
7
DELISTED
Nuance Communications, Inc.
NUAN
$251M 5.27%
5,749,300
+857,625
+18% +$39.4M
UBER icon
8
Uber
UBER
$143B
$220M 4.62%
4,041,142
-1,198,630
-23% -$66.9M
ATVI
9
DELISTED
Activision Blizzard
ATVI
$206M 4.33%
+2,218,795
New +$209M
BKNG icon
10
Booking.com
BKNG
$153B
$201M 4.22%
2,157,850
+370,500
+21% +$32.9M
BBWI icon
11
Bath & Body Works
BBWI
$4.15B
$197M 4.14%
3,941,472
-883,461
-18% -$36.4M
BFH icon
12
Bread Financial
BFH
$4.28B
$193M 4.06%
+2,160,178
New +$155M
GM icon
13
General Motors
GM
$80.9B
$190M 3.99%
+3,311,567
New +$176M
TRU icon
14
TransUnion
TRU
$16.5B
$187M 3.93%
2,080,295
+316,554
+18% +$28.6M
CIT
15
DELISTED
CIT Group Inc.
CIT
$168M 3.52%
3,259,504
-368,355
-10% -$16.5M
CSX icon
16
CSX Corp
CSX
$95.1B
$164M 3.43%
5,090,610
-854,265
-14% -$26.1M
LVS icon
17
Las Vegas Sands
LVS
$32B
$157M 3.28%
2,575,810
-663,519
-20% -$38.8M
ENTG icon
18
Entegris
ENTG
$18B
$156M 3.27%
+1,391,805
New +$143M
XYZ
19
Block Inc
XYZ
$49.2B
$150M 3.15%
+662,040
New +$155M
EXPE icon
20
Expedia Group
EXPE
$35.1B
$150M 3.14%
870,106
-330,900
-28% -$50.9M
NSC icon
21
Norfolk Southern
NSC
$77B
$126M 2.64%
+468,780
New +$119M
ETSY icon
22
Etsy
ETSY
$8.1B
$109M 2.28%
+539,800
New +$113M
DISH
23
CALL
DELISTED
DISH Network Corp.
DISH
$54.3M 1.14%
1,500,000
– –
CCVI.U
24
DELISTED
Churchill Capital Corp VI Units, each consisting of one share of Class A common stock, and one-fifth of one redeemable warrant
CCVI.U
$34.8M 0.73%
+3,459,110
New +$37.4M
DISCK
25
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$32M 0.67%
+867,000
New +$36.8M
1
2

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Palestra Capital Management's Q1 2021 Portfolio in Review

As of Q1 2021, Palestra Capital Management held 45 positions worth $4.76B, down 6.2% from $5.08B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Palestra Capital Management withdrew a net $641M in Q1 2021, closing 14 positions and reducing 10 holdings. Its most notable exit was Constellation Brands, an estimated $193M position sold in full.

By sector, the portfolio is most concentrated in Technology at 34% of assets, down from 36% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Palestra Capital Management opened a new position in Activision Blizzard worth $206M.

  • Palestra Capital Management's largest Q1 2021 buy was Activision Blizzard: 2,218,795 shares worth $206M.
  • Palestra Capital Management added most to Nuance Communications, Inc. in Q1 2021, an estimated $39.4M increase.
  • Palestra Capital Management's biggest Q1 2021 reduction was Alphabet (Google) Class A, cutting an estimated $69.8M.
  • Palestra Capital Management fully exited Constellation Brands in Q1 2021, selling an estimated $193M.
  • Palestra Capital Management's ten largest holdings make up 56% of its $4.76B portfolio in Q1 2021.
  • Palestra Capital Management opened 15 new positions and closed 14 in Q1 2021.
  • Palestra Capital Management's portfolio value fell 6.2% quarter-over-quarter to $4.76B.

Based on Palestra Capital Management's 13F filing for Q1 2021, filed 17 May 2021.