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WEC
White Elm Capital Portfolio holdings
AUM
$118M
1-Year Est. Return
42.18%
This Fund
S&P 500
This Quarter
Est. Return
-0.09%
1 Year Est. Return
+42.18%
3 Year Est. Return
+103.09%
5 Year Est. Return
+136.27%
10 Year Est. Return
–
AUM
$1.11B
AUM Growth
-$105M
(-8.7%)
Cap. Flow
-$74.4M
Cap. Flow
% of AUM
-6.72%
Top 10 Holdings %
Top 10 Hldgs %
53.12%
Holding
33
New
4
Increased
8
Reduced
11
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gilead Sciences
GILD
|
+$32M |
| 2 |
Dollar General
DG
|
+$20.5M |
| 3 |
AFSI
AmTrust Financial Services, Inc.
AFSI
|
+$15.2M |
| 4 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$15M |
| 5 |
AAMC
Altisource Asset Management Corp
AAMC
|
+$13M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ONIT
Onity Group
ONIT
|
+$35M |
| 2 |
Altisource Portfolio Solutions
ASPS
|
+$31.6M |
| 3 |
Dollar Tree
DLTR
|
+$29.4M |
| 4 |
Domino's
DPZ
|
+$19.3M |
| 5 |
Crown Castle
CCI
|
+$18.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 20.73% |
| 2 | Communication Services | 18.9% |
| 3 | Consumer Discretionary | 14.06% |
| 4 | Technology | 10.82% |
| 5 | Financials | 10.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AFSI
1
DELISTED
AmTrust Financial Services, Inc.
AFSI
| $77.1M | 6.96% |
3,872,446
+716,814
| +23% | +$15.2M |
|
2
SBA Communications
SBAC
$18.6B
| $67.5M | 6.09% |
608,971
-25,300
| -4% | -$2.73M |
|
3
Charter Communications
CHTR
$16.7B
| $64.6M | 5.83% |
427,040
-66,900
| -14% | -$10.6M |
|
|
4
Altisource Portfolio Solutions
ASPS
$58.1M
| $58M | 5.23% |
71,881
-38,713
| -35% | -$31.6M |
|
|
AAMC
5
DELISTED
Altisource Asset Management Corp
AAMC
| $56.3M | 5.08% |
141,760
+33,067
| +30% | +$13M |
|
|
DISCK
6
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $56M | 5.05% |
1,502,186
+28,800
| +2% | +$1.17M |
|
7
Liberty Global Class C
LBTYK
$3.4B
| $55.1M | 4.97% |
1,660,558
+68,233
| +4% | +$2.3M |
|
8
Meta Platforms (Facebook)
META
$1.51T
| $54.3M | 4.9% |
687,544
-152,900
| -18% | -$11.2M |
|
|
ONIT
9
Onity Group
ONIT
$341M
| $50.2M | 4.53% |
127,890
-77,382
| -38% | -$35M |
|
10
Carter's
CRI
$1.45B
| $49.5M | 4.47% |
638,670
| – | – |
|
|
11
Crown Castle
CCI
$33.1B
| $47.9M | 4.33% |
595,324
-240,978
| -29% | -$18.6M |
|
|
QVCGA
12
DELISTED
QVC Group Inc Series A
QVCGA
| $47.8M | 4.32% |
40,848
| – | – |
|
|
ZNGA
13
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $41.2M | 3.71% |
15,244,407
-116,600
| -0.8% | -$349K |
|
14
Visa
V
$697B
| $41M | 3.7% |
768,800
+128,800
| +20% | +$6.92M |
|
15
TransDigm Group
TDG
$73.2B
| $37.6M | 3.39% |
203,995
-19,600
| -9% | -$3.5M |
|
16
Booking.com
BKNG
$154B
| $36.4M | 3.28% |
785,000
-25,000
| -3% | -$1.23M |
|
17
Guidewire Software
GWRE
$13.3B
| $35.7M | 3.22% |
805,376
-189,451
| -19% | -$8.01M |
|
|
18
Gilead Sciences
GILD
$167B
| $34.8M | 3.14% |
+327,200
| New | +$32M |
|
19
Golar LNG
GLNG
$4.95B
| $33M | 2.98% |
496,951
+27,700
| +6% | +$1.75M |
|
20
Salesforce
CRM
$149B
| $28.5M | 2.57% |
495,504
-243,400
| -33% | -$13.7M |
|
21
Mastercard
MA
$497B
| $24M | 2.17% |
324,610
| – | – |
|
22
Liberty Global Class A
LBTYA
$3.49B
| $21.6M | 1.95% |
616,022
+244,312
| +66% | +$8.71M |
|
|
HSNI
23
DELISTED
HSN, Inc.
HSNI
| $21.2M | 1.91% |
345,172
| – | – |
|
|
24
Dollar General
DG
$27.8B
| $21M | 1.89% |
+342,900
| New | +$20.5M |
|
|
AMCC
25
DELISTED
Applied Micro Circuits Corporation New
AMCC
| $14.5M | 1.31% |
2,075,991
+433,400
| +26% | +$3.75M |
|
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White Elm Capital's Q3 2014 Portfolio in Review
As of Q3 2014, White Elm Capital held 33 positions worth $1.11B, down 8.7% from $1.21B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
White Elm Capital withdrew a net $74.4M in Q3 2014, closing 4 positions and reducing 11 holdings. Its most notable exit was Dollar Tree, an estimated $29.4M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 21% of assets, down from 23% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, White Elm Capital opened a new position in Gilead Sciences worth $34.8M.
- White Elm Capital's largest Q3 2014 buy was Gilead Sciences: 327,200 shares worth $34.8M.
- White Elm Capital added most to AmTrust Financial Services, Inc. in Q3 2014, an estimated $15.2M increase.
- White Elm Capital's biggest Q3 2014 reduction was Onity Group, cutting an estimated $35M.
- White Elm Capital fully exited Dollar Tree in Q3 2014, selling an estimated $29.4M.
- White Elm Capital's ten largest holdings make up 53% of its $1.11B portfolio in Q3 2014.
- White Elm Capital opened 4 new positions and closed 4 in Q3 2014.
- White Elm Capital's portfolio value fell 8.7% quarter-over-quarter to $1.11B.
Based on White Elm Capital's 13F filing for Q3 2014, filed 14 Nov 2014.