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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
+2.33%
1 Year Est. Return
+42.18%
3 Year Est. Return
+103.09%
5 Year Est. Return
+136.27%
10 Year Est. Return
–
AUM
$865M
AUM Growth
-$43.8M
(-4.8%)
Cap. Flow
-$59.6M
Cap. Flow
% of AUM
-6.89%
Top 10 Holdings %
Top 10 Hldgs %
54.62%
Holding
28
New
2
Increased
6
Reduced
16
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Synchrony
SYF
|
+$10.4M |
| 2 |
AFSI
AmTrust Financial Services, Inc.
AFSI
|
+$7.29M |
| 3 |
Liberty Global Class C
LBTYK
|
+$6.02M |
| 4 |
Liberty Latin America Class C
LILAK
|
+$5.83M |
| 5 |
BEAV
B/E Aerospace Inc
BEAV
|
+$3.89M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Crown Castle
CCI
|
+$18.7M |
| 2 |
Charter Communications
CHTR
|
+$15.5M |
| 3 |
Dollar General
DG
|
+$12.1M |
| 4 |
Amazon
AMZN
|
+$11M |
| 5 |
SBA Communications
SBAC
|
+$8.62M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 26.67% |
| 2 | Communication Services | 19.38% |
| 3 | Technology | 13.09% |
| 4 | Financials | 12.48% |
| 5 | Industrials | 9.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AFSI
1
DELISTED
AmTrust Financial Services, Inc.
AFSI
| $58.7M | 6.79% |
2,396,276
+286,137
| +14% | +$7.29M |
|
2
Expedia Group
EXPE
$35.2B
| $53.9M | 6.23% |
507,097
+12,400
| +3% | +$1.35M |
|
|
3
Charter Communications
CHTR
$16.6B
| $53.6M | 6.2% |
234,380
-72,197
| -24% | -$15.5M |
|
|
4
SBA Communications
SBAC
$18.9B
| $53.4M | 6.17% |
494,459
-84,995
| -15% | -$8.62M |
|
|
5
Liberty Global Class C
LBTYK
$3.38B
| $48.3M | 5.59% |
1,686,337
+190,889
| +13% | +$6.02M |
|
6
TransDigm Group
TDG
$73B
| $44.9M | 5.19% |
170,261
-14,381
| -8% | -$3.51M |
|
|
QVCGA
7
DELISTED
QVC Group Inc Series A
QVCGA
| $42.2M | 4.88% |
34,287
| – | – |
|
8
Visa
V
$704B
| $41.3M | 4.78% |
557,000
-19,400
| -3% | -$1.52M |
|
|
9
Amazon
AMZN
$2.49T
| $40.2M | 4.65% |
1,124,760
-324,000
| -22% | -$11M |
|
10
Corpay
CPAY
$25.2B
| $35.9M | 4.15% |
250,880
-50,100
| -17% | -$7.45M |
|
|
HSNI
11
DELISTED
HSN, Inc.
HSNI
| $33.5M | 3.88% |
685,326
| – | – |
|
12
Booking.com
BKNG
$154B
| $33.5M | 3.87% |
669,975
-42,525
| -6% | -$2.21M |
|
13
Meta Platforms (Facebook)
META
$1.51T
| $31.9M | 3.69% |
279,567
-29,200
| -9% | -$3.36M |
|
14
Guidewire Software
GWRE
$13.2B
| $31.2M | 3.6% |
504,825
| – | – |
|
|
UNVR
15
DELISTED
Univar Solutions Inc.
UNVR
| $29.2M | 3.38% |
1,544,232
-74,063
| -5% | -$1.35M |
|
16
Mastercard
MA
$496B
| $29.1M | 3.37% |
330,860
-26,650
| -7% | -$2.54M |
|
17
SEI Investments
SEIC
$12.4B
| $28.5M | 3.29% |
591,712
-60,500
| -9% | -$2.91M |
|
18
Verisk Analytics
VRSK
$28.1B
| $27.4M | 3.17% |
338,071
-22,700
| -6% | -$1.78M |
|
19
Carter's
CRI
$1.46B
| $27.3M | 3.16% |
256,799
-16,400
| -6% | -$1.69M |
|
|
AMCC
20
DELISTED
Applied Micro Circuits Corporation New
AMCC
| $23.8M | 2.75% |
3,706,542
-434,090
| -10% | -$2.77M |
|
21
Salesforce
CRM
$150B
| $22.4M | 2.59% |
281,804
-28,900
| -9% | -$2.27M |
|
|
22
Liberty Latin America Class C
LILAK
$1.64B
| $20.2M | 2.33% |
726,095
+175,793
| +32% | +$5.83M |
|
|
23
Dollar General
DG
$27.8B
| $18M | 2.08% |
191,300
-140,100
| -42% | -$12.1M |
|
|
BEAV
24
DELISTED
B/E Aerospace Inc
BEAV
| $13.9M | 1.61% |
301,390
+81,413
| +37% | +$3.89M |
|
|
25
Liberty Latin America Class A
LILA
$1.66B
| $11.3M | 1.31% |
546,557
+97,568
| +22% | +$2.3M |
|
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White Elm Capital's Q2 2016 Portfolio in Review
As of Q2 2016, White Elm Capital held 28 positions worth $865M, down 4.8% from $909M the previous quarter. Its ten largest holdings account for 55% of the portfolio.
White Elm Capital withdrew a net $59.6M in Q2 2016, closing 1 position and reducing 16 holdings. Its most notable exit was Crown Castle, an estimated $18.7M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 27% of assets, up from 26% a quarter earlier, followed by Communication Services and Technology.
Against the trend, White Elm Capital opened a new position in Synchrony worth $9.06M.
- White Elm Capital's largest Q2 2016 buy was Synchrony: 358,200 shares worth $9.06M.
- White Elm Capital added most to AmTrust Financial Services, Inc. in Q2 2016, an estimated $7.29M increase.
- White Elm Capital's biggest Q2 2016 reduction was Charter Communications, cutting an estimated $15.5M.
- White Elm Capital fully exited Crown Castle in Q2 2016, selling an estimated $18.7M.
- White Elm Capital's ten largest holdings make up 55% of its $865M portfolio in Q2 2016.
- White Elm Capital opened 2 new positions and closed 1 in Q2 2016.
- White Elm Capital's portfolio value fell 4.8% quarter-over-quarter to $865M.
Based on White Elm Capital's 13F filing for Q2 2016, filed 15 Aug 2016.