Black-and-white Capital L.P. 13F annual report

Black-and-white Capital L.P. is an investment fund managing more than $394 million ran by Steve Tarrab. There are currently 25 companies in Mr. Tarrab’s portfolio. The largest investments include Match and Zynga, together worth $79.9 million.

$394 million Assets Under Management (AUM)

As of 7th October 2020, Black-and-white Capital L.P.’s top holding is 404,100 shares of Match currently worth over $43.3 million and making up 11.0% of the portfolio value. Relative to the number of outstanding shares of Match, Black-and-white Capital L.P. owns more than approximately 0.1% of the company. In addition, the fund holds 3,840,000 shares of Zynga worth $36.6 million, whose value grew 32.1% in the past six months. The third-largest holding is Elastic N V worth $35.2 million and the next is CrowdStrike worth $30.5 million, with 303,900 shares owned.

Currently, Black-and-white Capital L.P.'s portfolio is worth at least $394 million. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Black-and-white Capital L.P.

The Black-and-white Capital L.P. office and employees reside in Los Angeles, California. According to the last 13-F report filed with the SEC, Steve Tarrab serves as the Chief Financial Officer at Black-and-white Capital L.P..

Recent trades

In the most recent 13F filing, Black-and-white Capital L.P. revealed that it had opened a new position in Spotify Technology S A and bought 110,500 shares worth $28.5 million.

The investment fund also strengthened its position in Match by buying 308,700 additional shares. This makes their stake in Match total 404,100 shares worth $43.3 million. Match soared 50.2% in the past year.

On the other hand, there are companies that Black-and-white Capital L.P. is getting rid of from its portfolio. Black-and-white Capital L.P. closed its position in Netflix on 14th August 2020. It sold the previously owned 114,250 shares for $42.9 million. Steve Tarrab also disclosed a decreased stake in Zynga by 0.5%. This leaves the value of the investment at $36.6 million and 3,840,000 shares.

One of the average hedge funds

The two most similar investment funds to Black-and-white Capital L.P. are Global Strategic Investment Solutions and Sompo Asset Management Co. They manage $394 million and $394 million respectively.

Steve Tarrab investment strategy

Black-and-white Capital L.P.’s portfolio is diversified across 6 sectors. Currently, their heaviest sector is Technology — making up 46.6% of the total portfolio value. The fund focuses on investments in the United States as 68.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 52% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $59.3 billion.

The complete list of Black-and-white Capital L.P. trades based on 13F SEC filings

These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Match Group, Inc.	323.58% 404,100	$43,259,000	10.98%
Netflix, Inc.	Closed 114,250	$42,901,000
Zynga, Inc.	52.22% 3,840,000	$36,634,000	9.30%
Elastic N V	36.67% 381,400	$35,169,000	8.93%
CrowdStrike Holdings, Inc.	45.42% 303,900	$30,478,000	7.74%
Spotify Technology S A	Opened 110,500	$28,530,000	7.24%
Marvell Technology Group Ltd.	Closed 1,206,303	$27,299,000
Uber Technologies, Inc.	Closed 950,000	$26,524,000
IAA, Inc.	Closed 740,465	$22,184,000
Starbucks Corp.	Closed 330,000	$21,694,000
Cloudflare, Inc.	57.70% 564,000	$20,276,000	5.15%
XPO Logistics, Inc.	Closed 408,390	$19,909,000
Walmart, Inc.	Opened 162,100	$19,416,000	4.93%
Micron Technology, Inc.	Opened 370,400	$19,083,000	4.84%
Roku, Inc.	Opened 159,000	$18,528,000	4.70%
Bill.com Holdings, Inc.	Opened 201,500	$18,177,000	4.61%
Smartsheet, Inc.	28.15% 337,000	$17,160,000	4.36%
Zendesk, Inc.	51.13% 190,600	$16,874,000	4.28%
Fidelity Natl Information Sv	Closed 125,850	$15,308,000
Pinterest, Inc.	Closed 778,150	$12,015,000
Prologis, Inc.	Closed 143,000	$11,493,000
Disney Walt Co	84.37% 91,000	$10,147,000	2.58%
General Mtrs Co	Opened 394,000	$9,968,000	2.53%
Booking Holdings, Inc.	Opened 6,200	$9,873,000	2.51%
Cree, Inc.	Closed 269,000	$9,539,000
Aptiv Plc	48.76% 118,025	$9,197,000	2.33%
NVIDIA Corp.	13.92% 22,500	$8,548,000	2.17%
Servicemaster Global Hldgs I	Opened 225,000	$8,030,000	2.04%
Avalara, Inc.	Closed 87,650	$6,539,000
Live Nation Entertainment In	81.89% 140,000	$6,206,000	1.58%
Diamond Eagle Acquisition Co	Closed 478,810	$5,909,000
Chegg, Inc.	Opened 84,500	$5,683,000	1.44%
Alteryx, Inc.	Opened 33,800	$5,553,000	1.41%
Etsy, Inc.	Opened 49,300	$5,237,000	1.33%
Keysight Technologies, Inc.	Opened 50,600	$5,099,000	1.29%
Dynatrace, Inc.	Opened 100,500	$4,080,000	1.04%
ON Semiconductor Corp.	Closed 325,200	$4,045,000
Criteo S A	Opened 236,000	$2,688,000	0.68%
Signet Jewelers Limited	Closed 250,000	$1,613,000
No transactions found
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