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Three Bays Capital Portfolio holdings
AUM
$848M
1-Year Est. Return
7.41%
This Fund
S&P 500
This Quarter
Est. Return
+5%
1 Year Est. Return
+7.41%
3 Year Est. Return
+63.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.38B
AUM Growth
+$808M
(+51%)
Cap. Flow
+$253M
Cap. Flow
% of AUM
10.65%
Top 10 Holdings %
Top 10 Hldgs %
78.61%
Holding
36
New
12
Increased
9
Reduced
1
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CY
Cypress Semiconductor
CY
|
+$91.6M |
| 2 |
AGN
Allergan plc
AGN
|
+$88.2M |
| 3 |
Applied Materials
AMAT
|
+$87.3M |
| 4 |
Qorvo
QRVO
|
+$79.9M |
| 5 |
Cadence Design Systems
CDNS
|
+$57.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CODE
SPANSION INC, CLASS A COMMON STOCK
CODE
|
+$57.8M |
| 2 |
RFMD
RF MICRO DEVICES INC
RFMD
|
+$49.2M |
| 3 |
AGN
Allergan Inc
AGN
|
+$40.9M |
| 4 |
TIM SA
TIMB
|
+$40.1M |
| 5 |
TQNT
TRIQUINT SEMICONDUCTOR INC
TQNT
|
+$39.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 55.4% |
| 2 | Technology | 20.13% |
| 3 | Healthcare | 6.34% |
| 4 | Financials | 5.84% |
| 5 | Consumer Discretionary | 5.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Snap-on
SNA
$19.8B
| – | – |
-94,504
| Closed | -$12.9M |
|
|
27
TIM SA
TIMB
$8.76B
| – | – |
-1,806,800
| Closed | -$40.1M |
|
28
CALL
United States Oil Fund
USO
$1.95B
| – | – |
-68,750
| Closed | -$11.2M |
|
29
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$4.06B
| – | – |
-42,500
| Closed | -$8.14M |
|
30
YPF Sociedad Anonima ADS
YPF
$20.6B
| – | – |
-314,400
| Closed | -$8.32M |
|
|
VER
31
DELISTED
VEREIT, Inc.
VER
| – | – |
-320,000
| Closed | -$14.5M |
|
|
NSR
32
PUT
DELISTED
Neustar Inc
NSR
| – | – |
-430,000
| Closed | -$12M |
|
|
CODE
33
DELISTED
SPANSION INC, CLASS A COMMON STOCK
CODE
| – | – |
-1,688,688
| Closed | -$57.8M |
|
|
RFMD
34
DELISTED
RF MICRO DEVICES INC
RFMD
| – | – |
-2,965,296
| Closed | -$49.2M |
|
|
TQNT
35
DELISTED
TRIQUINT SEMICONDUCTOR INC
TQNT
| – | – |
-1,438,400
| Closed | -$39.6M |
|
|
AGN
36
DELISTED
Allergan Inc
AGN
| – | – |
-192,400
| Closed | -$40.9M |
|
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Three Bays Capital's Q1 2015 Portfolio in Review
As of Q1 2015, Three Bays Capital held 36 positions worth $2.38B, up 51% from $1.57B the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Three Bays Capital deployed $253M of net new capital in Q1 2015, opening 12 new positions and adding to 9 existing holdings. Its largest new stake was Qorvo: 1,122,234 shares worth $89.4M.
By sector, the portfolio is most concentrated in Miscellaneous at 55% of assets, down from 57% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the most notable exit was SPANSION INC, CLASS A COMMON STOCK, an estimated $57.8M sold.
- Three Bays Capital's largest Q1 2015 buy was Qorvo: 1,122,234 shares worth $89.4M.
- Three Bays Capital added most to Cypress Semiconductor in Q1 2015, an estimated $91.6M increase.
- Three Bays Capital fully exited SPANSION INC, CLASS A COMMON STOCK in Q1 2015, selling an estimated $57.8M.
- Three Bays Capital's ten largest holdings make up 79% of its $2.38B portfolio in Q1 2015.
- Three Bays Capital opened 12 new positions and closed 13 in Q1 2015.
- Three Bays Capital's portfolio value rose 51% quarter-over-quarter to $2.38B.
Based on Three Bays Capital's 13F filing for Q1 2015, filed 15 May 2015.