RV Capital

Q1 2021 13F · by Robert Vinall, portfolio manager

As of: Mar 31, 2021
Filed: Apr 30, 2021
US stock: $312M · prev $284M
Positions: 5 · prev 5
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

+17.8 pp in · −17.8 pp out

New 1 +14.89 pp
Added 3 +2.95 pp
Trimmed 1 −4.51 pp
Exited 1 −13.33 pp

The book

Very concentrated · behaves like 5 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 65% a year, about 1.6 years per position

Low
Moderate
High

Top 5 positions100% of US stock

WIX WIX.com Ltd. added+3.77 pp added+3.7727.0%
CACC Credit Acceptance Corp added+0.62 pp added+0.6224.6%
META Meta Platforms, Inc. Class A trimmed−4.51 pp trimmed−4.5119.8%
CRM Salesforce, Inc. new+14.89 pp new+14.8914.9%
WORK Slack Technologies, Inc. added−1.44 pp added−1.4413.7%

Positions5 in this filing · 1 exited


WIXWIX.com Ltd.	26.98%	301,800	$84M	added+14%	+3.77 pp	6 q
CACCCredit Acceptance Corp	24.65%	213,695	$77M	added+8%	+0.62 pp	10 q
METAMeta Platforms, Inc. Class A	19.81%	210,100	$62M	trimmed−17%	−4.51 pp	10 q
CRMSalesforce, Inc.	14.89%	219,513	$47M	new	+14.89 pp	new
WORKSlack Technologies, Inc.	13.67%	1,050,558	$43M	added+3%	−1.44 pp	3 q
TRUPTrupanion, Inc.	—	−316,298	—	exited	−13.33 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001172661-21-001048
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet