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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
+18.03%
1 Year Est. Return
+36.77%
3 Year Est. Return
+110.35%
5 Year Est. Return
+336.28%
10 Year Est. Return
–
AUM
$101M
AUM Growth
-$33.8M
Cap. Flow
-$44.7M
Cap. Flow %
-44.28%
Top 10 Hldgs %
56.36%
Holding
63
New
14
Increased
8
Reduced
14
Closed
18

Top Buys

Rank Stock Value
1
GLUU
Glu Mobile Inc.
GLUU
+$4.38M
2
NOW icon
ServiceNow
NOW
+$2.29M
3
EEFT icon
Euronet Worldwide
EEFT
+$2.12M
4
TRUE
TrueCar
TRUE
+$2.08M
5
LOPE icon
Grand Canyon Education
LOPE
+$2.05M

Top Sells

Rank Stock Value
1
MTDR icon
Matador Resources
MTDR
+$5.15M
2
ZNGA
ZYNGA INC. CL A COMMON
ZNGA
+$4.76M
3
LSAK icon
Lesaka Technologies
LSAK
+$3.63M
4
LGIH icon
LGI Homes
LGIH
+$3.44M
5
PR
Permian Resources
PR
+$3.32M

Sector Composition

Rank Sector Weight
1 Technology 54.38%
2 Industrials 7.94%
3 Healthcare 7.46%
4 Communication Services 4.77%
5 Consumer Discretionary 3.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLUU
1
DELISTED
Glu Mobile Inc.
GLUU
$9.53M 9.44%
4,200,000
+2,030,100
+94% +$4.38M
TSEM icon
2
Tower Semiconductor
TSEM
$26.5B
$9.09M 9%
394,500
+246
+0.1% +$5.4K
STMP
3
DELISTED
Stamps.com, Inc.
STMP
$8.29M 8.2%
70,000
+15,000
+27% +$1.85M
OCLR
4
DELISTED
Oclaro Inc.
OCLR
$5.6M 5.54%
570,000
-230,000
-29% -$2.16M
TYL icon
5
Tyler Technologies
TYL
$13.1B
$5.41M 5.36%
35,000
-15,000
-30% -$2.28M
ON icon
6
ON Semiconductor
ON
$34B
$4.63M 4.59%
299,000
+56,000
+23% +$812K
AAPL icon
7
Apple
AAPL
$4.9T
$4.58M 4.54%
127,600
+39,600
+45% +$1.3M
LOPE icon
8
Grand Canyon Education
LOPE
$3.72B
$3.94M 3.9%
55,000
+33,000
+150% +$2.05M
UPLD icon
9
Upland Software
UPLD
$15.8M
$3.13M 3.1%
19,728
-272
-1% -$33K
NVRO
10
DELISTED
NEVRO CORP.
NVRO
$2.71M 2.68%
28,900
– –
AMZN icon
11
Amazon
AMZN
$2.66T
$2.62M 2.59%
59,000
– –
GOOG icon
12
Alphabet (Google) Class C
GOOG
$4.22T
$2.5M 2.47%
60,200
– –
TRUE
13
DELISTED
TrueCar
TRUE
$2.32M 2.3%
+150,000
New +$2.08M
EEFT icon
14
Euronet Worldwide
EEFT
$3.1B
$2.31M 2.29%
+27,000
New +$2.12M
NOW icon
15
ServiceNow
NOW
$106B
$2.3M 2.28%
+131,500
New +$2.29M
COHR
16
DELISTED
Coherent Inc
COHR
$2.06M 2.04%
+10,000
New +$1.75M
PRIM icon
17
Primoris Services
PRIM
$4.66B
$2.04M 2.02%
88,000
– –
WIX icon
18
WIX.com
WIX
$2.15B
$2.04M 2.02%
+30,000
New +$1.76M
CUTR
19
DELISTED
Cutera, Inc.
CUTR
$1.9M 1.89%
92,000
+5,000
+6% +$98.6K
CXW icon
20
CoreCivic
CXW
$3.03B
$1.89M 1.87%
60,000
-100,000
-63% -$3.06M
MIDD icon
21
Middleby
MIDD
$6.02B
$1.77M 1.76%
+13,000
New +$1.77M
GEO icon
22
The GEO Group
GEO
$3.94B
$1.76M 1.74%
57,000
-33,000
-37% -$949K
CCS icon
23
Century Communities
CCS
$1.89B
$1.57M 1.56%
62,000
– –
CDNS icon
24
Cadence Design Systems
CDNS
$91B
$1.57M 1.55%
50,000
-3,000
-6% -$87.5K
LONE
25
DELISTED
Lonestar Resources US Inc. Class A Common Stock
LONE
$1.5M 1.48%
296,000
-31,897
-10% -$203K
1
2 3

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Precept Management's Q1 2017 Portfolio in Review

As of Q1 2017, Precept Management held 63 positions worth $101M, down 25% from $135M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Precept Management withdrew a net $44.7M in Q1 2017, closing 18 positions and reducing 14 holdings. Its most notable exit was Matador Resources, an estimated $5.15M position sold in full.

By sector, the portfolio is most concentrated in Technology at 54% of assets, up from 42% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Precept Management opened a new position in ServiceNow worth $2.3M.

  • Precept Management's largest Q1 2017 buy was ServiceNow: 131,500 shares worth $2.3M.
  • Precept Management added most to Glu Mobile Inc. in Q1 2017, an estimated $4.38M increase.
  • Precept Management's biggest Q1 2017 reduction was LGI Homes, cutting an estimated $3.44M.
  • Precept Management fully exited Matador Resources in Q1 2017, selling an estimated $5.15M.
  • Precept Management's ten largest holdings make up 56% of its $101M portfolio in Q1 2017.
  • Precept Management opened 14 new positions and closed 18 in Q1 2017.
  • Precept Management's portfolio value fell 25% quarter-over-quarter to $101M.

Based on Precept Management's 13F filing for Q1 2017, filed 15 May 2017.