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Precept Management Portfolio holdings

AUM $126M
1-Year Est. Return 36.77%
This Fund
S&P 500
This Quarter Est. Return
+27.33%
1 Year Est. Return
+36.77%
3 Year Est. Return
+110.35%
5 Year Est. Return
+336.28%
10 Year Est. Return
–
AUM
$222M
AUM Growth
-$34.4M
Cap. Flow
-$71.7M
Cap. Flow %
-32.31%
Top 10 Hldgs %
50.78%
Holding
63
New
26
Increased
9
Reduced
11
Closed
11

Top Buys

Rank Stock Value
1
IWM icon
iShares Russell 2000 ETF
IWM
+$6.46M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$5.93M
3
NOW icon
ServiceNow
NOW
+$4.84M
4
FIS icon
Fidelity National Information Services
FIS
+$3.06M
5
ZS icon
Zscaler
ZS
+$2.69M

Top Sells

Rank Stock Value
1
GLUU
Glu Mobile Inc.
GLUU
+$2.36M
2
QTNA
Quantenna Communications, Inc. Common Stock
QTNA
+$2.3M
3
DBX icon
Dropbox
DBX
+$1.91M
4
WWE
World Wrestling Entertainment
WWE
+$1.9M
5
MSFT icon
Microsoft
MSFT
+$1.31M

Sector Composition

Rank Sector Weight
1 Technology 34.35%
2 Energy 12.51%
3 Consumer Discretionary 7.61%
4 Financials 5.75%
5 Consumer Staples 2.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VCEL icon
51
Vericel Corp
VCEL
$2.38B
$637K 0.29%
36,400
-33,600
-48% -$614K
MIME
52
DELISTED
Mimecast Limited
MIME
$616K 0.28%
+13,000
New +$546K
LSAK icon
53
Lesaka Technologies
LSAK
$409M
– –
-49,900
Closed -$206K
QQQ icon
54
CALL
Invesco QQQ Trust
QQQ
$466B
– –
-250,000
Closed -$38.6M
QQQ icon
55
PUT
Invesco QQQ Trust
QQQ
$466B
– –
-250,000
Closed -$38.6M
STZ icon
56
Constellation Brands
STZ
$22.7B
– –
-2,000
Closed -$322K
TSEM icon
57
Tower Semiconductor
TSEM
$26.5B
– –
-79,900
Closed -$1.18M
TSEM icon
58
PUT
Tower Semiconductor
TSEM
$26.5B
– –
-75,000
Closed -$1.11M
UPLD icon
59
CALL
Upland Software
UPLD
$15.8M
– –
-5,000
Closed -$1.36M
SVVC
60
DELISTED
Firsthand Technology Value Fund, Inc. Common Stock
SVVC
– –
-25,000
Closed -$280K
WWE
61
DELISTED
World Wrestling Entertainment
WWE
– –
-25,400
Closed -$1.9M
JCP
62
PUT
DELISTED
J.C. Penney Company, Inc.
JCP
– –
-70,000
Closed -$73K
QTNA
63
DELISTED
Quantenna Communications, Inc. Common Stock
QTNA
– –
-160,000
Closed -$2.3M
1 2
3

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Precept Management's Q1 2019 Portfolio in Review

As of Q1 2019, Precept Management held 63 positions worth $222M, down 13% from $256M the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Precept Management withdrew a net $71.7M in Q1 2019, closing 11 positions and reducing 11 holdings. Its most notable exit was Quantenna Communications, Inc. Common Stock, an estimated $2.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 34% of assets, up from 20% a quarter earlier, followed by Energy and Consumer Discretionary.

Against the trend, Precept Management opened a new position in iShares Russell 2000 ETF worth $6.58M.

  • Precept Management's largest Q1 2019 buy was iShares Russell 2000 ETF: 43,000 shares worth $6.58M.
  • Precept Management added most to Invesco QQQ Trust in Q1 2019, an estimated $5.93M increase.
  • Precept Management's biggest Q1 2019 reduction was Glu Mobile Inc., cutting an estimated $2.36M.
  • Precept Management fully exited Quantenna Communications, Inc. Common Stock in Q1 2019, selling an estimated $2.3M.
  • Precept Management's ten largest holdings make up 51% of its $222M portfolio in Q1 2019.
  • Precept Management opened 26 new positions and closed 11 in Q1 2019.
  • Precept Management's portfolio value fell 13% quarter-over-quarter to $222M.

Based on Precept Management's 13F filing for Q1 2019, filed 15 May 2019.