CAS Investment Partners

Q1 2021 13F · by Clifford Sosin, founder

As of: Mar 31, 2021
Filed: May 17, 2021
US stock: $2.0B · prev $1.8B
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%

Moves5 since the prior filing

+10.3 pp in · 0.0 pp out

New 0 0.00 pp
Added 5 +10.35 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 positions95% of US stock

CVNA Carvana Co. added+1.77 pp added+1.7744.3%
CDLX Cardlytics, Inc. held held25.2%
HOME At Home Group Inc. added+7.31 pp added+7.3116.3%
WRLD World Acceptance Corp added+1.00 pp added+1.005.0%
PRTY Party City Holdco Inc. added−0.46 pp added−0.464.7%

Positions6 in this filing · 0 exited


CVNACarvana Co.	44.31%	3,305,028	$867M	added+3%	+1.77 pp	13 q
CDLXCardlytics, Inc.	25.16%	4,488,972	$492M	held	—	8 q
HOMEAt Home Group Inc.	16.25%	11,078,735	$318M	added+6%	+7.31 pp	7 q
WRLDWorld Acceptance Corp	5.01%	755,768	$98M	added+7%	+1.00 pp	14 q
PRTYParty City Holdco Inc.	4.74%	15,986,623	$93M	added+5%	−0.46 pp	7 q
HLFHerbalife Ltd.	4.53%	1,996,462	$89M	added+40%	+0.73 pp	14 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001420506-21-000760
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet