CAS Investment Partners

Q1 2020 13F · by Clifford Sosin, founder

As of: Mar 31, 2020
Filed: May 15, 2020
US stock: $455M · prev $608M
Positions: 6 · prev 6
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves6 since the prior filing

0.0 pp in · 0.0 pp out

New 0 0.00 pp
Added 6 +0.01 pp
Trimmed 0 0.00 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 3 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.0% a year

Low
Moderate
High

Top 5 positions99% of US stock

CVNA Carvana Co. added+4.32 pp added+4.3246.3%
CDLX Cardlytics, Inc. added+1.21 pp added+1.2130.4%
HLF Herbalife Ltd. added−0.14 pp added−0.149.1%
WRLD World Acceptance Corp added−0.06 pp added−0.068.4%
HOME At Home Group Inc. added−3.34 pp added−3.344.6%

Positions6 in this filing · 0 exited


CVNACarvana Co.	46.33%	3,824,284	$211M	added+38%	+4.32 pp	9 q
CDLXCardlytics, Inc.	30.38%	3,951,515	$138M	added+40%	+1.21 pp	4 q
HLFHerbalife Ltd.	9.14%	1,425,462	$42M	added+20%	−0.14 pp	10 q
WRLDWorld Acceptance Corp	8.44%	703,061	$38M	added+18%	−0.06 pp	10 q
HOMEAt Home Group Inc.	4.63%	10,433,735	$21M	added+18%	−3.34 pp	3 q
PRTYParty City Holdco Inc.	1.08%	10,666,736	$5M	added+34%	−1.98 pp	3 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001387131-20-004828
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet