Oakcliff Capital

Q2 2018 13F · by Bryan Lawrence, portfolio manager

Picture100.0% US stock

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

+10.6 pp in · −9.3 pp out

Very concentrated · behaves like 9 equal-sized positions

Moderate turnover · 27% a year, about 3.8 years per position

CHTR Charter Comm Inc Del CL A New added+3.49 pp added+3.4916.5%
KMX CarMax Inc. held held13.1%
TDG TransDigm Group Incorporated held held12.8%
SGU Star Group, L.P. Common Units Representing Limited Partner Interest held held12.3%
IBKR Interactive Brokers Group, Inc. Class A trimmed−2.88 pp trimmed−2.8811.2%


CHTRCharter Comm Inc Del CL A New	16.54%	74,500	$22M	added+52%	+3.49 pp	3 q
KMXCarMax Inc.	13.06%	236,776	$17M	held	—	6 q
TDGTransDigm Group Incorporated	12.83%	49,106	$17M	held	—	6 q
SGUStar Group, L.P. Common Units Representing Limited Partner Interest	12.27%	1,654,387	$16M	held	—	6 q
IBKRInteractive Brokers Group, Inc. Class A	11.19%	229,469	$15M	trimmed−6%	−2.88 pp	6 q
GOOGAlphabet Inc. Class C	10.39%	12,300	$14M	held	—	2 q
BIDUBaidu, Inc.	7.93%	43,100	$10M	held	—	6 q
BFHBread Financial Holdings, Inc.	6.39%	36,200	$8M	trimmed−44%	−5.34 pp	3 q
APPNAppian Corporation Class A	6.39%	233,264	$8M	new	+6.39 pp	new
HNRGHallador Energy Company	3.01%	557,189	$4M	added+40%	+0.67 pp	6 q
unresolvedAlliance Holdings GP LP	—	−48,784	—	exited	−1.04 pp	—