CAS Investment Partners

Q3 2020 13F · by Clifford Sosin, founder

As of: Sep 30, 2020
Filed: Nov 14, 2020
US stock: $1.4B · prev $929M
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%

Moves3 since the prior filing

−1.3 pp in · 0.0 pp out

New 0 0.00 pp
Added 3 −1.35 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 positions98% of US stock

CVNA Carvana Co. added+6.92 pp added+6.9255.8%
CDLX Cardlytics, Inc. added−8.77 pp added−8.7721.5%
HOME At Home Group Inc. held held10.8%
WRLD World Acceptance Corp held held5.2%
HLF Herbalife Ltd. held held4.6%

Positions6 in this filing · 0 exited


CVNACarvana Co.	55.77%	3,606,974	$805M	added+7%	+6.92 pp	11 q
CDLXCardlytics, Inc.	21.48%	4,391,586	$310M	added+9%	−8.77 pp	6 q
HOMEAt Home Group Inc.	10.75%	10,433,735	$155M	held	—	5 q
WRLDWorld Acceptance Corp	5.18%	707,768	$75M	held	—	12 q
HLFHerbalife Ltd.	4.61%	1,425,462	$66M	held	—	12 q
PRTYParty City Holdco Inc.	2.21%	12,290,199	$32M	added+15%	+0.50 pp	5 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001387131-20-009974
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet