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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
+16.73%
1 Year Est. Return
+36.77%
3 Year Est. Return
+110.35%
5 Year Est. Return
+336.28%
10 Year Est. Return
–
AUM
$247M
AUM Growth
-$161M
Cap. Flow
-$37.8M
Cap. Flow %
-15.33%
Top 10 Hldgs %
62.49%
Holding
84
New
18
Increased
8
Reduced
14
Closed
32

Top Buys

Rank Stock Value
1
TYL icon
Tyler Technologies
TYL
+$4.33M
2
WD icon
Walker & Dunlop
WD
+$2.19M
3
PYPL icon
PayPal
PYPL
+$2.07M
4
J icon
Jacobs Solutions
J
+$1.84M
5
KRE icon
State Street SPDR S&P Regional Banking ETF
KRE
+$1.55M

Top Sells

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$9.73M
2
MSFT icon
Microsoft
MSFT
+$7.53M
3
NXRT
NexPoint Residential Trust
NXRT
+$3.73M
4
BJ icon
BJs Wholesale Club
BJ
+$3.49M
5
XIFR
XPLR Infrastructure LP
XIFR
+$3.06M

Sector Composition

Rank Sector Weight
1 Technology 39.59%
2 Miscellaneous 23.53%
3 Healthcare 11.82%
4 Consumer Discretionary 8.07%
5 Energy 6.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AKTS
51
DELISTED
Akoustis Technologies Inc
AKTS
$245K 0.1%
20,000
– –
GME icon
52
GameStop
GME
$8.6B
$19K 0.01%
4,000
-504,000
-99% -$1.73M
AMD icon
53
CALL
Advanced Micro Devices
AMD
$780B
– –
-150,000
Closed -$12.3M
AMT icon
54
American Tower
AMT
$81.9B
– –
-6,000
Closed -$1.45M
AMZN icon
55
PUT
Amazon
AMZN
$2.79T
– –
-100,000
Closed -$15.7M
BAC icon
56
CALL
Bank of America
BAC
$438B
– –
-100,000
Closed -$2.41M
BAC icon
57
Bank of America
BAC
$438B
– –
-100
Closed -$2K
BJ icon
58
BJs Wholesale Club
BJ
$11.8B
– –
-84,000
Closed -$3.49M
BKNG icon
59
Booking.com
BKNG
$145B
– –
-26,250
Closed -$1.8M
CCI icon
60
Crown Castle
CCI
$32.3B
– –
-9,000
Closed -$1.5M
CRL icon
61
CALL
Charles River Laboratories
CRL
$13.8B
– –
-100,000
Closed -$22.6M
CRL icon
62
PUT
Charles River Laboratories
CRL
$13.8B
– –
-70,000
Closed -$15.9M
CRM icon
63
CALL
Salesforce
CRM
$213B
– –
-100,000
Closed -$25.1M
CRM icon
64
PUT
Salesforce
CRM
$213B
– –
-90,000
Closed -$22.6M
CYRX icon
65
PUT
CryoPort
CYRX
$801M
– –
-30,000
Closed -$1.42M
FIS icon
66
Fidelity National Information Services
FIS
$21.6B
– –
-20,000
Closed -$2.94M
HROW icon
67
Harrow
HROW
$1.44B
– –
-84,264
Closed -$471K
IWM icon
68
PUT
iShares Russell 2000 ETF
IWM
$80.5B
– –
-70,000
Closed -$10.5M
MCFT icon
69
MasterCraft Boat Holdings
MCFT
$585M
– –
-75,000
Closed -$1.31M
MSFT icon
70
CALL
Microsoft
MSFT
$3.71T
– –
-30,000
Closed -$6.31M
MSFT icon
71
PUT
Microsoft
MSFT
$3.71T
– –
-30,000
Closed -$6.31M
NOC icon
72
Northrop Grumman
NOC
$73.2B
– –
-3,500
Closed -$1.1M
NOW icon
73
PUT
ServiceNow
NOW
$146B
– –
-185,000
Closed -$17.9M
NREF
74
NexPoint Real Estate Finance
NREF
$335M
– –
-60,000
Closed -$881K
NXRT
75
NexPoint Residential Trust
NXRT
$608M
– –
-84,000
Closed -$3.73M
1 2
3
4

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Precept Management's Q4 2020 Portfolio in Review

As of Q4 2020, Precept Management held 84 positions worth $247M, down 39% from $408M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Precept Management withdrew a net $37.8M in Q4 2020, closing 32 positions and reducing 14 holdings. Its most notable exit was NexPoint Residential Trust, an estimated $3.73M position sold in full.

By sector, the portfolio is most concentrated in Technology at 40% of assets, up from 25% a quarter earlier, followed by Miscellaneous and Healthcare.

Against the trend, Precept Management opened a new position in PayPal worth $2.34M.

  • Precept Management's largest Q4 2020 buy was PayPal: 10,000 shares worth $2.34M.
  • Precept Management added most to Tyler Technologies in Q4 2020, an estimated $4.33M increase.
  • Precept Management's biggest Q4 2020 reduction was Salesforce, cutting an estimated $9.73M.
  • Precept Management fully exited NexPoint Residential Trust in Q4 2020, selling an estimated $3.73M.
  • Precept Management's ten largest holdings make up 62% of its $247M portfolio in Q4 2020.
  • Precept Management opened 18 new positions and closed 32 in Q4 2020.
  • Precept Management's portfolio value fell 39% quarter-over-quarter to $247M.

Based on Precept Management's 13F filing for Q4 2020, filed 16 Feb 2021.