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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
-0.77%
1 Year Est. Return
+42.18%
3 Year Est. Return
+103.09%
5 Year Est. Return
+136.27%
10 Year Est. Return
–
AUM
$648M
AUM Growth
-$141M
(-18%)
Cap. Flow
-$124M
Cap. Flow
% of AUM
-19.11%
Top 10 Holdings %
Top 10 Hldgs %
60.93%
Holding
33
New
4
Increased
6
Reduced
14
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Citigroup
C
|
+$16.7M |
| 2 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$11.5M |
| 3 |
PayPal
PYPL
|
+$9.59M |
| 4 |
ATVI
Activision Blizzard
ATVI
|
+$7.94M |
| 5 |
Synchrony
SYF
|
+$6.91M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BEAV
B/E Aerospace Inc
BEAV
|
+$22.7M |
| 2 |
UNVR
Univar Solutions Inc.
UNVR
|
+$19.2M |
| 3 |
AMCC
Applied Micro Circuits Corporation New
AMCC
|
+$18.9M |
| 4 |
Dollar General
DG
|
+$16.7M |
| 5 |
Meta Platforms (Facebook)
META
|
+$16M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 26.99% |
| 2 | Consumer Discretionary | 19.31% |
| 3 | Communication Services | 15.86% |
| 4 | Technology | 11.2% |
| 5 | Real Estate | 7.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AFSI
1
DELISTED
AmTrust Financial Services, Inc.
AFSI
| $50.7M | 7.83% |
1,853,398
-262,500
| -12% | -$6.99M |
|
2
Charter Communications
CHTR
$16.6B
| $49.3M | 7.6% |
171,180
-17,300
| -9% | -$4.66M |
|
3
SBA Communications
SBAC
$18.9B
| $49.2M | 7.59% |
476,859
+34,200
| +8% | +$3.6M |
|
4
Liberty Global Class C
LBTYK
$3.39B
| $39.1M | 6.02% |
1,315,137
-45,400
| -3% | -$1.39M |
|
5
Amazon
AMZN
$2.49T
| $38.4M | 5.93% |
1,024,760
+8,000
| +0.8% | +$313K |
|
|
6
Synchrony
SYF
$24.9B
| $36.2M | 5.58% |
998,500
+216,500
| +28% | +$6.91M |
|
7
Visa
V
$704B
| $35.4M | 5.46% |
453,900
-59,700
| -12% | -$4.8M |
|
8
Expedia Group
EXPE
$35.2B
| $35.2M | 5.43% |
311,097
-108,600
| -26% | -$13.2M |
|
9
Booking.com
BKNG
$154B
| $31.2M | 4.8% |
531,225
-70,000
| -12% | -$4.18M |
|
10
TransDigm Group
TDG
$73B
| $30.3M | 4.68% |
121,861
| – | – |
|
11
SEI Investments
SEIC
$12.4B
| $26.2M | 4.03% |
529,909
-85,200
| -14% | -$3.98M |
|
12
Mastercard
MA
$496B
| $25.6M | 3.95% |
247,860
-30,900
| -11% | -$3.2M |
|
13
Corpay
CPAY
$25.2B
| $23.3M | 3.6% |
164,780
-12,200
| -7% | -$1.91M |
|
14
Guidewire Software
GWRE
$13.2B
| $22.2M | 3.42% |
449,255
-22,270
| -5% | -$1.25M |
|
15
Carter's
CRI
$1.46B
| $20.4M | 3.15% |
236,199
-8,600
| -4% | -$768K |
|
16
Atlassian
TEAM
$25.7B
| $20M | 3.08% |
829,465
+49,000
| +6% | +$1.32M |
|
|
17
Citigroup
C
$221B
| $18.4M | 2.84% |
+310,100
| New | +$16.7M |
|
|
18
Meta Platforms (Facebook)
META
$1.51T
| $14.5M | 2.23% |
125,867
-130,300
| -51% | -$16M |
|
19
Veeva Systems
VEEV
$32.8B
| $14.2M | 2.19% |
349,400
+62,900
| +22% | +$2.57M |
|
|
UNVR
20
DELISTED
Univar Solutions Inc.
UNVR
| $14.2M | 2.19% |
500,032
-796,500
| -61% | -$19.2M |
|
21
Verisk Analytics
VRSK
$28.1B
| $14.1M | 2.17% |
173,271
-59,900
| -26% | -$4.91M |
|
|
22
PayPal
PYPL
$51.6B
| $14M | 2.16% |
355,300
+238,500
| +204% | +$9.59M |
|
|
ATH
23
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $11.9M | 1.84% |
+248,000
| New | +$11.5M |
|
24
Huntington Bancshares
HBAN
$34.7B
| $7.27M | 1.12% |
+550,200
| New | +$6.41M |
|
|
ATVI
25
DELISTED
Activision Blizzard
ATVI
| $7.17M | 1.11% |
+198,700
| New | +$7.94M |
|
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White Elm Capital's Q4 2016 Portfolio in Review
As of Q4 2016, White Elm Capital held 33 positions worth $648M, down 18% from $790M the previous quarter. Its ten largest holdings account for 61% of the portfolio.
White Elm Capital withdrew a net $124M in Q4 2016, closing 8 positions and reducing 14 holdings. Its most notable exit was B/E Aerospace Inc, an estimated $22.7M position sold in full.
By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 16% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, White Elm Capital opened a new position in Citigroup worth $18.4M.
- White Elm Capital's largest Q4 2016 buy was Citigroup: 310,100 shares worth $18.4M.
- White Elm Capital added most to PayPal in Q4 2016, an estimated $9.59M increase.
- White Elm Capital's biggest Q4 2016 reduction was Univar Solutions Inc., cutting an estimated $19.2M.
- White Elm Capital fully exited B/E Aerospace Inc in Q4 2016, selling an estimated $22.7M.
- White Elm Capital's ten largest holdings make up 61% of its $648M portfolio in Q4 2016.
- White Elm Capital opened 4 new positions and closed 8 in Q4 2016.
- White Elm Capital's portfolio value fell 18% quarter-over-quarter to $648M.
Based on White Elm Capital's 13F filing for Q4 2016, filed 14 Feb 2017.