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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
-2.61%
1 Year Est. Return
+7.41%
3 Year Est. Return
+63.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.44B
AUM Growth
-$334M
(-19%)
Cap. Flow
-$297M
Cap. Flow
% of AUM
-20.59%
Top 10 Holdings %
Top 10 Hldgs %
79.92%
Holding
34
New
10
Increased
6
Reduced
4
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ILG
ILG, Inc Common Stock
ILG
|
+$81M |
| 2 |
Eagle Materials
EXP
|
+$78M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$54.7M |
| 4 |
Nexstar Media Group
NXST
|
+$46.5M |
| 5 |
VeriSign
VRSN
|
+$44M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Churchill Downs
CHDN
|
+$135M |
| 2 |
HAWK
Blackhawk Network Holdings, Inc. Common Stock
HAWK
|
+$96.2M |
| 3 |
Peabody Energy
BTU
|
+$85.2M |
| 4 |
PXD
Pioneer Natural Resource Co.
PXD
|
+$71.2M |
| 5 |
PE
PARSLEY ENERGY INC
PE
|
+$52.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 15.64% |
| 2 | Materials | 10.75% |
| 3 | Healthcare | 7.89% |
| 4 | Technology | 7.44% |
| 5 | Industrials | 4.18% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
JPMorgan Chase
JPM
$907B
| – | – |
-380,600
| Closed | -$40.7M |
|
27
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$774B
| – | – |
-2,300,000
| Closed | -$614M |
|
28
Warner Bros
WBD
$67.4B
| – | – |
-555,000
| Closed | -$12.4M |
|
|
LGF.B
29
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| – | – |
-219,391
| Closed | -$6.96M |
|
|
LGF.A
30
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| – | – |
-100,000
| Closed | -$3.38M |
|
|
PXD
31
DELISTED
Pioneer Natural Resource Co.
PXD
| – | – |
-412,055
| Closed | -$71.2M |
|
|
PE
32
DELISTED
PARSLEY ENERGY INC
PE
| – | – |
-1,775,000
| Closed | -$52.3M |
|
|
TFCFA
33
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| – | – |
-320,000
| Closed | -$11.1M |
|
|
HAWK
34
DELISTED
Blackhawk Network Holdings, Inc. Common Stock
HAWK
| – | – |
-2,699,129
| Closed | -$96.2M |
|
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Three Bays Capital's Q1 2018 Portfolio in Review
As of Q1 2018, Three Bays Capital held 34 positions worth $1.44B, down 19% from $1.78B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Three Bays Capital withdrew a net $297M in Q1 2018, closing 13 positions and reducing 4 holdings. Its most notable exit was Blackhawk Network Holdings, Inc. Common Stock, an estimated $96.2M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 16% of assets, up from 11% a quarter earlier, followed by Materials and Healthcare.
Against the trend, Three Bays Capital opened a new position in ILG, Inc Common Stock worth $80.5M.
- Three Bays Capital's largest Q1 2018 buy was ILG, Inc Common Stock: 2,588,504 shares worth $80.5M.
- Three Bays Capital added most to Nexstar Media Group in Q1 2018, an estimated $46.5M increase.
- Three Bays Capital's biggest Q1 2018 reduction was Churchill Downs, cutting an estimated $135M.
- Three Bays Capital fully exited Blackhawk Network Holdings, Inc. Common Stock in Q1 2018, selling an estimated $96.2M.
- Three Bays Capital's ten largest holdings make up 80% of its $1.44B portfolio in Q1 2018.
- Three Bays Capital opened 10 new positions and closed 13 in Q1 2018.
- Three Bays Capital's portfolio value fell 19% quarter-over-quarter to $1.44B.
Based on Three Bays Capital's 13F filing for Q1 2018, filed 15 May 2018.