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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
+37.67%
1 Year Est. Return
+36.77%
3 Year Est. Return
+110.35%
5 Year Est. Return
+336.28%
10 Year Est. Return
–
AUM
$523M
AUM Growth
-$284M
Cap. Flow
-$397M
Cap. Flow %
-75.92%
Top 10 Hldgs %
40.61%
Holding
150
New
25
Increased
18
Reduced
22
Closed
61

Top Buys

Rank Stock Value
1
IWM icon
iShares Russell 2000 ETF
IWM
+$12.7M
2
CRL icon
Charles River Laboratories
CRL
+$12M
3
HEI icon
HEICO Corp
HEI
+$6.46M
4
FIVN icon
FIVE9
FIVN
+$5.84M
5
NOW icon
ServiceNow
NOW
+$3.53M

Top Sells

Rank Stock Value
1
OKTA icon
Okta
OKTA
+$4.92M
2
EGIO
Edgio, Inc. Common Stock
EGIO
+$3.71M
3
AMD icon
Advanced Micro Devices
AMD
+$2.65M
4
FRO icon
Frontline
FRO
+$2.31M
5
CMBT
CMB.TECH NV
CMBT
+$2.14M

Sector Composition

Rank Sector Weight
1 Technology 12.98%
2 Healthcare 5.44%
3 Consumer Discretionary 3.75%
4 Energy 2.64%
5 Industrials 2.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TNK icon
126
Teekay Tankers
TNK
$2.5B
– –
-33,000
Closed -$734K
UGI icon
127
PUT
UGI
UGI
$7.84B
– –
-40,000
Closed -$1.07M
ULTA icon
128
Ulta Beauty
ULTA
$20.9B
– –
-7,000
Closed -$1.23M
UPLD icon
129
PUT
Upland Software
UPLD
$14.9M
– –
-5,000
Closed -$1.34M
USO icon
130
CALL
United States Oil Fund
USO
$2.24B
– –
-125,000
Closed -$33.7M
USO icon
131
United States Oil Fund
USO
$2.24B
– –
-13
Closed -$3K
USO icon
132
PUT
United States Oil Fund
USO
$2.24B
– –
-125,000
Closed -$33.7M
VCEL icon
133
Vericel Corp
VCEL
$2.36B
– –
-100,100
Closed -$918K
WMB icon
134
PUT
Williams Companies
WMB
$91B
– –
-300,000
Closed -$4.25M
XOP icon
135
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.37B
– –
-10,750
Closed -$354K
CMBT
136
CMB.TECH NV
CMBT
$4.4B
– –
-190,000
Closed -$2.14M
XIFR
137
CALL
XPLR Infrastructure LP
XIFR
$1.15B
– –
-50,000
Closed -$2.15M
INFN
138
DELISTED
Infinera Corporation Common Stock
INFN
– –
-116,000
Closed -$615K
MRO
139
PUT
DELISTED
Marathon Oil Corporation
MRO
– –
-84,000
Closed -$276K
EGIO
140
DELISTED
Edgio, Inc. Common Stock
EGIO
– –
-16,250
Closed -$3.71M
ETRN
141
PUT
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
– –
-125,000
Closed -$629K
AMJ
142
DELISTED
JP Morgan Alerian MLP Index ETN 5/24/24
AMJ
– –
-110,000
Closed -$993K
CPE
143
DELISTED
Callon Petroleum Company
CPE
– –
-130,000
Closed -$712K
RETA
144
CALL
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-130,000
Closed -$18.8M
LHCG
145
CALL
DELISTED
LHC Group LLC
LHCG
– –
-50,000
Closed -$7.01M
LHCG
146
DELISTED
LHC Group LLC
LHCG
– –
-1,000
Closed -$140K
CATM
147
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
– –
-30,000
Closed -$628K
CRC
148
PUT
DELISTED
California Resources Corporation
CRC
– –
-350,000
Closed -$350K
REGI
149
DELISTED
Renewable Energy Group, Inc.
REGI
– –
-50,000
Closed -$1.03M
VG
150
DELISTED
Vonage Holdings Corporation
VG
– –
-50,000
Closed -$362K
2 3 4 5
6

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Precept Management's Q2 2020 Portfolio in Review

As of Q2 2020, Precept Management held 150 positions worth $523M, down 35% from $807M the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Precept Management withdrew a net $397M in Q2 2020, closing 61 positions and reducing 22 holdings. Its most notable exit was Edgio, Inc. Common Stock, an estimated $3.71M position sold in full.

By sector, the portfolio is most concentrated in Technology at 13% of assets, up from 6.1% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, Precept Management opened a new position in iShares Russell 2000 ETF worth $13.9M.

  • Precept Management's largest Q2 2020 buy was iShares Russell 2000 ETF: 97,000 shares worth $13.9M.
  • Precept Management added most to Charles River Laboratories in Q2 2020, an estimated $12M increase.
  • Precept Management's biggest Q2 2020 reduction was Okta, cutting an estimated $4.92M.
  • Precept Management fully exited Edgio, Inc. Common Stock in Q2 2020, selling an estimated $3.71M.
  • Precept Management's ten largest holdings make up 41% of its $523M portfolio in Q2 2020.
  • Precept Management opened 25 new positions and closed 61 in Q2 2020.
  • Precept Management's portfolio value fell 35% quarter-over-quarter to $523M.

Based on Precept Management's 13F filing for Q2 2020, filed 14 Aug 2020.