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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
+$818M
Cap. Flow
% of AUM
34.39%
Top 10 Holdings %
Top 10 Hldgs %
78.61%
Holding
36
New
12
Increased
9
Reduced
1
Closed
13
Top Buys
| 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
| 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
| 1 | Technology | 20.13% |
| 2 | Healthcare | 6.34% |
| 3 | Financials | 5.84% |
| 4 | Consumer Discretionary | 5.22% |
| 5 | Real Estate | 3.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
CALL
Applied Materials
AMAT
$419B
| $437M | 18.38% |
19,370,000
-1,370,000
| -7% | -$32.8M |
|
2
PUT
iShares Russell 2000 ETF
IWM
$82B
| $323M | 13.6% |
+2,600,000
| New | +$313M |
|
|
APC
3
CALL
DELISTED
Anadarko Petroleum
APC
| $228M | 9.58% |
+2,750,000
| New | +$225M |
|
|
4
Cadence Design Systems
CDNS
$90.3B
| $167M | 7.03% |
9,068,989
+3,164,859
| +54% | +$57.6M |
|
|
AGN
5
DELISTED
Allergan plc
AGN
| $139M | 5.87% |
468,639
+309,239
| +194% | +$88.2M |
|
6
Intercontinental Exchange
ICE
$79.1B
| $139M | 5.84% |
2,974,000
+115,000
| +4% | +$5.18M |
|
7
Churchill Downs
CHDN
$5.88B
| $124M | 5.22% |
6,482,346
+1,098,420
| +20% | +$18.8M |
|
|
CY
8
DELISTED
Cypress Semiconductor
CY
| $116M | 4.88% |
8,228,831
+6,186,231
| +303% | +$91.6M |
|
|
9
Applied Materials
AMAT
$419B
| $106M | 4.45% |
4,684,749
+3,644,000
| +350% | +$87.3M |
|
|
10
Qorvo
QRVO
$7.5B
| $89.4M | 3.76% |
+1,122,234
| New | +$79.9M |
|
11
CALL
SPDR Gold Trust
GLD
$129B
| $80.7M | 3.4% |
710,200
| – | – |
|
12
PUT
VanEck Semiconductor ETF
SMH
$67.3B
| $77.4M | 3.26% |
+2,800,000
| New | +$77.4M |
|
|
HOUS
13
DELISTED
Anywhere Real Estate
HOUS
| $71.6M | 3.01% |
1,573,514
+361,614
| +30% | +$16.6M |
|
|
14
CALL
Qorvo
QRVO
$7.5B
| $55.8M | 2.35% |
+700,000
| New | +$49.8M |
|
15
Cheniere Energy
LNG
$54.8B
| $45.9M | 1.93% |
592,670
+316,000
| +114% | +$23.6M |
|
16
PUT
Transocean
RIG
$5.67B
| $44M | 1.85% |
3,000,000
+800,000
| +36% | +$13M |
|
|
CY
17
CALL
DELISTED
Cypress Semiconductor
CY
| $42.3M | 1.78% |
+3,000,000
| New | +$44.4M |
|
|
ESV
18
PUT
DELISTED
Ensco Rowan plc
ESV
| $21.1M | 0.89% |
+250,000
| New | +$26.3M |
|
19
Molson Coors Class B
TAP
$7.67B
| $21.1M | 0.89% |
+283,000
| New | +$21.3M |
|
|
MRC
20
DELISTED
MRC Global
MRC
| $17M | 0.72% |
+1,438,700
| New | +$18M |
|
21
Aramark
ARMK
$15B
| $12.7M | 0.53% |
+554,000
| New | +$12.7M |
|
|
KERX
22
DELISTED
Keryx Biopharmaceuticals Inc
KERX
| $11.3M | 0.48% |
+889,000
| New | +$11.4M |
|
|
ACT.PRA
23
DELISTED
ACTAVIS PLC Pfd Conv Ser A (Irl)
ACT.PRA
| $7.59M | 0.32% |
+7,500
| New | +$7.85M |
|
24
PUT
Invesco QQQ Trust
QQQ
$466B
| – | – |
-1,250,000
| Closed | -$129M |
|
25
Radian Group
RDN
$5.22B
| – | – |
-923,155
| Closed | -$15.4M |
|
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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 $818M 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 Technology at 20% of assets, up from 14% a quarter earlier, followed by Healthcare and Financials.
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.