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VCP

Varenne Capital Partners Portfolio holdings

AUM $413M
1-Year Est. Return 52.65%
This Fund
S&P 500
This Quarter Est. Return
+3.57%
1 Year Est. Return
+52.65%
3 Year Est. Return
+148.48%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$198M
AUM Growth
-$43.5M
Cap. Flow
-$89.2M
Cap. Flow %
-45.12%
Top 10 Hldgs %
100%
Holding
11
New
1
Increased
1
Reduced
3
Closed
4

Top Buys

Rank Stock Value
1
DG icon
Dollar General
DG
+$3.83M
2
KNBE
KnowBe4, Inc. Class A Common Stock
KNBE
+$1.54M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$64.8M
2
BKNG icon
Booking.com
BKNG
+$14.8M
3
ZEN
ZENDESK INC
ZEN
+$5.2M
4
AVLR
Avalara, Inc.
AVLR
+$3.68M
5
CVET
Covetrus, Inc. Common Stock
CVET
+$3.58M

Sector Composition

Rank Sector Weight
1 Consumer Staples 54.26%
2 Consumer Discretionary 4.57%
3 Communication Services 3.79%
4 Technology 3.03%
5 Energy 2.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DG icon
1
Dollar General
DG
$28.4B
$107M 54.26%
435,550
+15,502
+4% +$3.83M
SBUX icon
2
CALL
Starbucks
SBUX
$119B
$62M 31.37%
187,910
-20,018
-10% -$1.89M
BKNG icon
3
Booking.com
BKNG
$156B
$9.03M 4.57%
111,975
-195,350
-64% -$14.8M
ATVI
4
DELISTED
Activision Blizzard
ATVI
$5.99M 3.03%
78,293
– –
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$4.12T
$5.93M 3%
67,194
-682,362
-91% -$64.8M
LHCG
6
DELISTED
LHC Group LLC
LHCG
$5.89M 2.98%
36,458
– –
KNBE
7
DELISTED
KnowBe4, Inc. Class A Common Stock
KNBE
$1.57M 0.79%
+63,169
New +$1.54M
TXNM
8
TXNM Energy Inc
TXNM
$6.39B
– –
-11,401
Closed -$521K
ZEN
9
DELISTED
ZENDESK INC
ZEN
– –
-68,384
Closed -$5.2M
AVLR
10
DELISTED
Avalara, Inc.
AVLR
– –
-40,124
Closed -$3.68M
CVET
11
DELISTED
Covetrus, Inc. Common Stock
CVET
– –
-171,643
Closed -$3.58M

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Varenne Capital Partners's Q4 2022 Portfolio in Review

As of Q4 2022, Varenne Capital Partners held 11 positions worth $198M, down 18% from $241M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Varenne Capital Partners withdrew a net $89.2M in Q4 2022, closing 4 positions and reducing 3 holdings. Its most notable exit was ZENDESK INC, an estimated $5.2M position sold in full.

By sector, the portfolio is most concentrated in Consumer Staples at 54% of assets, up from 42% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Varenne Capital Partners opened a new position in KnowBe4, Inc. Class A Common Stock worth $1.57M.

  • Varenne Capital Partners's largest Q4 2022 buy was KnowBe4, Inc. Class A Common Stock: 63,169 shares worth $1.57M.
  • Varenne Capital Partners added most to Dollar General in Q4 2022, an estimated $3.83M increase.
  • Varenne Capital Partners's biggest Q4 2022 reduction was Alphabet (Google) Class A, cutting an estimated $64.8M.
  • Varenne Capital Partners fully exited ZENDESK INC in Q4 2022, selling an estimated $5.2M.
  • Varenne Capital Partners's ten largest holdings make up 100% of its $198M portfolio in Q4 2022.
  • Varenne Capital Partners opened 1 new position and closed 4 in Q4 2022.
  • Varenne Capital Partners's portfolio value fell 18% quarter-over-quarter to $198M.

Based on Varenne Capital Partners's 13F filing for Q4 2022, filed 13 Feb 2023.