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Three Bays Capital Portfolio holdings
AUM
$848M
Turnover
51.72%
1-Year Est. Return
7.41%
This Fund
S&P 500
This Quarter Est. Return
-3.54%
1 Year Est. Return
+7.41%
3 Year Est. Return
+63.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$848M
AUM Growth
-$1.73B
(-67%)
Cap. Flow
-$153M
Cap. Flow % of AUM
Cap. Flow %
-18.06%
Top 10 Holdings %
Top 10 Hldgs %
69.99%
Holding
29
New
5
Increased
7
Reduced
5
Closed
10
Avg Time Held
Equity + Options
0.6
years
Top 10 Avg Time Held
Equity + Options
0.4
years
Top 20 Avg Time Held
Equity + Options
0.5
years
Avg Time Held Equity only
0.6
years
Top 10 Avg Time Held Equity only
0.4
years
Top 20 Avg Time Held Equity only
0.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
MGM Resorts International
MGM
|
+$62M |
| 2 |
Xerox
XRX
|
+$56.6M |
| 3 |
Hello Group
MOMO
|
+$55.6M |
| 4 |
Wynn Resorts
WYNN
|
+$34.3M |
| 5 |
MDCO
Medicines Co
MDCO
|
+$18.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sinclair Inc
SBGI
|
+$80.2M |
| 2 |
Intercontinental Exchange
ICE
|
+$57.4M |
| 3 |
EGN
Energen
EGN
|
+$56.4M |
| 4 |
Nexstar Media Group
NXST
|
+$53.3M |
| 5 |
ADSW
Advanced Disposal Services Inc
ADSW
|
+$50.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 20.65% |
| 2 | Healthcare | 19.09% |
| 3 | Communication Services | 17.24% |
| 4 | Materials | 15.14% |
| 5 | Miscellaneous | 10.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$812B
| – | – |
-3,590,000
| Closed | -$974M | – |
|
27
PUT
State Street SPDR S&P Retail ETF
XRT
$398M
| – | – |
-1,600,000
| Closed | -$77.7M | – |
|
|
ADSW
28
DELISTED
Advanced Disposal Services Inc
ADSW
| – | – |
-2,040,700
| Closed | -$50.6M | – |
|
|
EGN
29
DELISTED
Energen
EGN
| – | – |
-774,200
| Closed | -$56.4M | – |
|
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Three Bays Capital's Q3 2018 Portfolio in Review
As of Q3 2018, Three Bays Capital held 29 positions worth $848M, down 67% from $2.57B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Three Bays Capital withdrew a net $153M in Q3 2018, closing 10 positions and reducing 5 holdings. Its most notable exit was Sinclair Inc, an estimated $80.2M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 21% of assets, up from 6.7% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Three Bays Capital opened a new position in MGM Resorts International worth $59.7M.
- Three Bays Capital's largest Q3 2018 buy was MGM Resorts International: 2,138,000 shares worth $59.7M.
- Three Bays Capital added most to Medicines Co in Q3 2018, an estimated $18.4M increase.
- Three Bays Capital's biggest Q3 2018 reduction was VeriSign, cutting an estimated $49M.
- Three Bays Capital fully exited Sinclair Inc in Q3 2018, selling an estimated $80.2M.
- Three Bays Capital's ten largest holdings make up 70% of its $848M portfolio in Q3 2018.
- Three Bays Capital opened 5 new positions and closed 10 in Q3 2018.
- Three Bays Capital's portfolio value fell 67% quarter-over-quarter to $848M.
Based on Three Bays Capital's 13F filing for Q3 2018, filed 14 Nov 2018.