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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
+8.53%
1 Year Est. Return
+42.18%
3 Year Est. Return
+103.09%
5 Year Est. Return
+136.27%
10 Year Est. Return
–
AUM
$790M
AUM Growth
-$75.1M
(-8.7%)
Cap. Flow
-$127M
Cap. Flow
% of AUM
-16.06%
Top 10 Holdings %
Top 10 Hldgs %
55.67%
Holding
30
New
3
Increased
5
Reduced
21
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Atlassian
TEAM
|
+$22.8M |
| 2 |
Synchrony
SYF
|
+$11.6M |
| 3 |
Veeva Systems
VEEV
|
+$11.1M |
| 4 |
BEAV
B/E Aerospace Inc
BEAV
|
+$6.67M |
| 5 |
PayPal
PYPL
|
+$4.49M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HSNI
HSN, Inc.
HSNI
|
+$33.5M |
| 2 |
QVCGA
QVC Group Inc Series A
QVCGA
|
+$27M |
| 3 |
TransDigm Group
TDG
|
+$13.6M |
| 4 |
Corpay
CPAY
|
+$11.8M |
| 5 |
Salesforce
CRM
|
+$11.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 19.96% |
| 2 | Communication Services | 19.71% |
| 3 | Financials | 15.9% |
| 4 | Technology | 14.03% |
| 5 | Industrials | 9.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AFSI
1
DELISTED
AmTrust Financial Services, Inc.
AFSI
| $56.8M | 7.19% |
2,115,898
-280,378
| -12% | -$7.2M |
|
2
Charter Communications
CHTR
$16.5B
| $50.9M | 6.44% |
188,480
-45,900
| -20% | -$11.6M |
|
3
SBA Communications
SBAC
$18.6B
| $49.6M | 6.29% |
442,659
-51,800
| -10% | -$5.86M |
|
4
Expedia Group
EXPE
$35.3B
| $49M | 6.2% |
419,697
-87,400
| -17% | -$9.88M |
|
5
Liberty Global Class C
LBTYK
$3.39B
| $45M | 5.69% |
1,360,537
-325,800
| -19% | -$10.1M |
|
6
Amazon
AMZN
$2.49T
| $42.6M | 5.39% |
1,016,760
-108,000
| -10% | -$4.13M |
|
7
Visa
V
$701B
| $42.5M | 5.38% |
513,600
-43,400
| -8% | -$3.47M |
|
8
Booking.com
BKNG
$153B
| $35.4M | 4.48% |
601,225
-68,750
| -10% | -$3.83M |
|
|
9
TransDigm Group
TDG
$73.1B
| $35.2M | 4.46% |
121,861
-48,400
| -28% | -$13.6M |
|
10
Meta Platforms (Facebook)
META
$1.51T
| $32.9M | 4.16% |
256,167
-23,400
| -8% | -$2.9M |
|
|
11
Corpay
CPAY
$25.1B
| $30.7M | 3.89% |
176,980
-73,900
| -29% | -$11.8M |
|
12
Mastercard
MA
$496B
| $28.4M | 3.59% |
278,760
-52,100
| -16% | -$5M |
|
|
UNVR
13
DELISTED
Univar Solutions Inc.
UNVR
| $28.3M | 3.59% |
1,296,532
-247,700
| -16% | -$4.86M |
|
14
Guidewire Software
GWRE
$13.1B
| $28.3M | 3.58% |
471,525
-33,300
| -7% | -$2.05M |
|
15
SEI Investments
SEIC
$12.4B
| $28.1M | 3.55% |
615,109
+23,397
| +4% | +$1.1M |
|
|
16
Atlassian
TEAM
$25.2B
| $23.4M | 2.96% |
+780,465
| New | +$22.8M |
|
|
BEAV
17
DELISTED
B/E Aerospace Inc
BEAV
| $22.7M | 2.87% |
439,282
+137,892
| +46% | +$6.67M |
|
|
18
Synchrony
SYF
$25B
| $21.9M | 2.77% |
782,000
+423,800
| +118% | +$11.6M |
|
19
Carter's
CRI
$1.45B
| $21.2M | 2.69% |
244,799
-12,000
| -5% | -$1.2M |
|
20
Verisk Analytics
VRSK
$27.7B
| $19M | 2.4% |
233,171
-104,900
| -31% | -$8.68M |
|
|
AMCC
21
DELISTED
Applied Micro Circuits Corporation New
AMCC
| $18.9M | 2.4% |
2,722,043
-984,499
| -27% | -$6.83M |
|
22
Dollar General
DG
$27.7B
| $16.7M | 2.12% |
239,100
+47,800
| +25% | +$4.05M |
|
23
Liberty Latin America Class C
LILAK
$1.64B
| $13.8M | 1.75% |
576,682
-149,413
| -21% | -$4M |
|
|
24
Veeva Systems
VEEV
$32.6B
| $11.8M | 1.5% |
+286,500
| New | +$11.1M |
|
|
QVCGA
25
DELISTED
QVC Group Inc Series A
QVCGA
| $9.49M | 1.2% |
9,771
-24,516
| -72% | -$27M |
|
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White Elm Capital's Q3 2016 Portfolio in Review
As of Q3 2016, White Elm Capital held 30 positions worth $790M, down 8.7% from $865M the previous quarter. Its ten largest holdings account for 56% of the portfolio.
White Elm Capital withdrew a net $127M in Q3 2016, closing 1 position and reducing 21 holdings. Its most notable exit was HSN, Inc., an estimated $33.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 20% of assets, down from 27% a quarter earlier, followed by Communication Services and Financials.
Against the trend, White Elm Capital opened a new position in Atlassian worth $23.4M.
- White Elm Capital's largest Q3 2016 buy was Atlassian: 780,465 shares worth $23.4M.
- White Elm Capital added most to Synchrony in Q3 2016, an estimated $11.6M increase.
- White Elm Capital's biggest Q3 2016 reduction was QVC Group Inc Series A, cutting an estimated $27M.
- White Elm Capital fully exited HSN, Inc. in Q3 2016, selling an estimated $33.5M.
- White Elm Capital's ten largest holdings make up 56% of its $790M portfolio in Q3 2016.
- White Elm Capital opened 3 new positions and closed 1 in Q3 2016.
- White Elm Capital's portfolio value fell 8.7% quarter-over-quarter to $790M.
Based on White Elm Capital's 13F filing for Q3 2016, filed 14 Nov 2016.