CAS Investment Partners

Q4 2021 13F · by Clifford Sosin, founder

As of: Dec 31, 2021
Filed: Feb 14, 2022
US stock: $1.9B · prev $2.1B
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

−2.9 pp in · 0.0 pp out

New 0 0.00 pp
Added 5 −2.85 pp
Trimmed 0 0.00 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 4 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−7.41 pp added−7.4140.1%
HGV Hilton Grand Vacations Inc. added+7.41 pp added+7.4121.0%
CDLX Cardlytics, Inc. added−2.71 pp added−2.7117.9%
WRLD World Acceptance Corp held held9.7%
HLF Herbalife Ltd. added+0.49 pp added+0.496.5%

Positions6 in this filing · 0 exited


CVNACarvana Co.	40.09%	3,314,303	$768M	added0%	−7.41 pp	16 q
HGVHilton Grand Vacations Inc.	21.01%	7,727,165	$403M	added+29%	+7.41 pp	2 q
CDLXCardlytics, Inc.	17.89%	5,186,466	$343M	added+1%	−2.71 pp	11 q
WRLDWorld Acceptance Corp	9.68%	755,768	$185M	held	—	17 q
HLFHerbalife Ltd.	6.54%	3,062,762	$125M	added+2%	+0.49 pp	17 q
PRTYParty City Holdco Inc.	4.78%	16,456,623	$92M	added+3%	−0.63 pp	10 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001420506-22-000403
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet