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Thrax Management Portfolio holdings

AUM $547M
1-Year Est. Return 26.41%
This Fund
S&P 500
This Quarter Est. Return
+16.89%
1 Year Est. Return
+26.41%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$280M
AUM Growth
-$368M
Cap. Flow
-$228M
Cap. Flow %
-81.31%
Top 10 Hldgs %
55.56%
Holding
225
New
95
Increased
12
Reduced
24
Closed
90

Top Buys

Rank Stock Value
1
EA icon
Electronic Arts
EA
+$17.2M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$16.1M
3
QCOM icon
Qualcomm
QCOM
+$6.95M
4
AVGO icon
Broadcom
AVGO
+$6.87M
5
JOYY
JOYY Inc
JOYY
+$6.41M

Top Sells

Rank Stock Value
1
K
Kellanova
K
+$48.3M
2
YHOO
Yahoo Inc
YHOO
+$36.7M
3
AMZN icon
Amazon
AMZN
+$31.1M
4
CRM icon
Salesforce
CRM
+$13.5M
5
CHTR icon
Charter Communications
CHTR
+$12.7M

Sector Composition

Rank Sector Weight
1 Communication Services 37.05%
2 Technology 28.84%
3 Consumer Discretionary 15.11%
4 Financials 6.43%
5 Consumer Staples 1.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPLK
201
PUT
DELISTED
Splunk Inc
SPLK
– –
-10,000
Closed -$542K
ZEN
202
DELISTED
ZENDESK INC
ZEN
– –
-155,797
Closed -$4.11M
TWTR
203
PUT
DELISTED
Twitter, Inc.
TWTR
– –
-80,000
Closed -$1.35M
SC
204
PUT
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
– –
-330,000
Closed -$3.41M
ONDK
205
PUT
DELISTED
On Deck Capital, Inc.
ONDK
– –
-20,000
Closed -$103K
JCP
206
PUT
DELISTED
J.C. Penney Company, Inc.
JCP
– –
-230,000
Closed -$2.04M
S
207
PUT
DELISTED
Sprint Corporation
S
– –
-270,000
Closed -$1.22M
KEYW
208
CALL
DELISTED
The KEYW Holding Corporation
KEYW
– –
-50,000
Closed -$497K
P
209
PUT
DELISTED
Pandora Media Inc
P
– –
-50,000
Closed -$623K
PAY
210
DELISTED
Verifone Systems Inc
PAY
– –
-73,904
Closed -$1.37M
PAY
211
PUT
DELISTED
Verifone Systems Inc
PAY
– –
-100,000
Closed -$1.85M
IPXL
212
PUT
DELISTED
Impax Laboratories, Inc.
IPXL
– –
-50,000
Closed -$1.44M
LVLT
213
DELISTED
Level 3 Communications Inc
LVLT
– –
-11,433
Closed -$589K
KATE
214
DELISTED
Kate Spade & Company
KATE
– –
-145,680
Closed -$3M
YHOO
215
DELISTED
Yahoo Inc
YHOO
– –
-977,541
Closed -$36.7M
AVG
216
CALL
DELISTED
AVG Technologies N.V.
AVG
– –
-60,000
Closed -$9.32M
RAX
217
PUT
DELISTED
Rackspace Hosting Inc
RAX
– –
-130,000
Closed -$2.71M
OUTR
218
PUT
DELISTED
OUTERWALL INC
OUTR
– –
-40,000
Closed -$1.68M
MFRM
219
PUT
DELISTED
MATTRESS FIRM HLDG CORP COM STK (DE)
MFRM
– –
-20,000
Closed -$671K
CY
220
CALL
DELISTED
Cypress Semiconductor
CY
– –
-110,000
Closed -$1.16M
QIHU
221
PUT
DELISTED
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
– –
-50,000
Closed -$3.65M
5 6 7 8
9

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Thrax Management's Q3 2016 Portfolio in Review

As of Q3 2016, Thrax Management held 225 positions worth $280M, down 57% from $648M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Thrax Management withdrew a net $228M in Q3 2016, closing 90 positions and reducing 24 holdings. Its most notable exit was Kellanova, an estimated $48.3M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 37% of assets, up from 11% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Thrax Management opened a new position in Electronic Arts worth $18.4M.

  • Thrax Management's largest Q3 2016 buy was Electronic Arts: 214,883 shares worth $18.4M.
  • Thrax Management added most to Alphabet (Google) Class C in Q3 2016, an estimated $16.1M increase.
  • Thrax Management's biggest Q3 2016 reduction was Amazon, cutting an estimated $31.1M.
  • Thrax Management fully exited Kellanova in Q3 2016, selling an estimated $48.3M.
  • Thrax Management's ten largest holdings make up 56% of its $280M portfolio in Q3 2016.
  • Thrax Management opened 95 new positions and closed 90 in Q3 2016.
  • Thrax Management's portfolio value fell 57% quarter-over-quarter to $280M.

Based on Thrax Management's 13F filing for Q3 2016, filed 14 Nov 2016.