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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
+6.6%
1 Year Est. Return
+7.41%
3 Year Est. Return
+63.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.18B
AUM Growth
+$671M
(+45%)
Cap. Flow
+$621M
Cap. Flow
% of AUM
28.52%
Top 10 Holdings %
Top 10 Hldgs %
77.63%
Holding
33
New
16
Increased
3
Reduced
3
Closed
9
Top Buys
| 1 |
Amazon
AMZN
|
+$98.9M |
| 2 |
Hilton Worldwide
HLT
|
+$91M |
| 3 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$88.2M |
| 4 |
IQVIA
IQV
|
+$86.5M |
| 5 |
Bank of America
BAC
|
+$82.4M |
Top Sells
| 1 |
YHOO
Yahoo Inc
YHOO
|
+$105M |
| 2 |
CY
Cypress Semiconductor
CY
|
+$76.9M |
| 3 |
United Airlines
UAL
|
+$69.4M |
| 4 |
Sensata Technologies
ST
|
+$69.4M |
| 5 |
Broadcom
AVGO
|
+$68.5M |
Sector Composition
| 1 | Consumer Discretionary | 21.82% |
| 2 | Financials | 10.12% |
| 3 | Healthcare | 9.11% |
| 4 | Technology | 4.18% |
| 5 | Communication Services | 2.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$774B
| $648M | 29.78% |
+2,900,000
| New | +$634M |
|
2
Churchill Downs
CHDN
$5.85B
| $232M | 10.65% |
9,243,762
+1,251,390
| +16% | +$30.6M |
|
3
CALL
State Street Financial Select Sector SPDR ETF
XLF
$54.8B
| $140M | 6.41% |
+6,000,000
| New | +$129M |
|
|
4
IQVIA
IQV
$34.4B
| $117M | 5.37% |
1,537,324
+1,128,324
| +276% | +$86.5M |
|
|
5
CALL
Broadcom
AVGO
$1.76T
| $106M | 4.87% |
6,000,000
| – | – |
|
|
6
Hilton Worldwide
HLT
$73.1B
| $101M | 4.64% |
+1,237,744
| New | +$91M |
|
|
7
Amazon
AMZN
$2.66T
| $94.6M | 4.35% |
+2,524,000
| New | +$98.9M |
|
|
8
Bank of America
BAC
$430B
| $94.6M | 4.34% |
+4,279,000
| New | +$82.4M |
|
|
ZAYO
9
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $88.5M | 4.07% |
+2,693,000
| New | +$88.2M |
|
10
Intercontinental Exchange
ICE
$79B
| $68.7M | 3.16% |
1,217,330
-619,400
| -34% | -$34.3M |
|
|
CSC
11
DELISTED
Computer Sciences
CSC
| $64.5M | 2.96% |
+1,086,000
| New | +$62.7M |
|
|
CY
12
DELISTED
Cypress Semiconductor
CY
| $60.8M | 2.79% |
5,317,762
-7,013,500
| -57% | -$76.9M |
|
13
Wells Fargo
WFC
$265B
| $57.2M | 2.63% |
+1,037,250
| New | +$52.2M |
|
|
14
CALL
Wells Fargo
WFC
$265B
| $49.6M | 2.28% |
+900,000
| New | +$45.3M |
|
|
AGN
15
DELISTED
Allergan plc
AGN
| $44.6M | 2.05% |
212,297
+45,900
| +28% | +$9.51M |
|
16
HCA Healthcare
HCA
$82.3B
| $36.8M | 1.69% |
+496,700
| New | +$37.2M |
|
|
17
Broadcom
AVGO
$1.76T
| $30.3M | 1.39% |
1,711,410
-3,952,090
| -70% | -$68.5M |
|
18
WisdomTree Japan Hedged Equity Fund
DXJ
$7.05B
| $29M | 1.33% |
+586,000
| New | +$27.5M |
|
19
Marriott International
MAR
$96.6B
| $27.7M | 1.27% |
+335,000
| New | +$25.2M |
|
20
Televisa
TV
$1.43B
| $24.2M | 1.11% |
+1,157,000
| New | +$26.6M |
|
21
Alphabet (Google) Class A
GOOGL
$4.23T
| $22M | 1.01% |
+556,000
| New | +$22.2M |
|
22
Expedia Group
EXPE
$32.3B
| $19.9M | 0.92% |
+176,000
| New | +$21.5M |
|
|
LCAHU
23
DELISTED
Landcadia Holdings, Inc. Unit
LCAHU
| $10.4M | 0.48% |
1,000,000
| – | – |
|
24
PUT
GameStop
GME
$9.82B
| $10.1M | 0.46% |
+1,600,000
| New | +$9.88M |
|
25
PUT
iShares US Real Estate ETF
IYR
$4.83B
| – | – |
-2,000,000
| Closed | -$161M |
|
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Three Bays Capital's Q4 2016 Portfolio in Review
As of Q4 2016, Three Bays Capital held 33 positions worth $2.18B, up 45% from $1.51B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Three Bays Capital deployed $621M of net new capital in Q4 2016, opening 16 new positions and adding to 3 existing holdings. Its largest new stake was Amazon: 2,524,000 shares worth $94.6M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 13% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was Cypress Semiconductor, an estimated $76.9M trimmed.
- Three Bays Capital's largest Q4 2016 buy was Amazon: 2,524,000 shares worth $94.6M.
- Three Bays Capital added most to IQVIA in Q4 2016, an estimated $86.5M increase.
- Three Bays Capital's biggest Q4 2016 reduction was Cypress Semiconductor, cutting an estimated $76.9M.
- Three Bays Capital fully exited Yahoo Inc in Q4 2016, selling an estimated $105M.
- Three Bays Capital's ten largest holdings make up 78% of its $2.18B portfolio in Q4 2016.
- Three Bays Capital opened 16 new positions and closed 9 in Q4 2016.
- Three Bays Capital's portfolio value rose 45% quarter-over-quarter to $2.18B.
Based on Three Bays Capital's 13F filing for Q4 2016, filed 14 Feb 2017.