CIK: 0001600375
Total reported value
$74.3M
Reporting period: 2019-09-30 · Number of holdings: 24
Vilas Fund, LP disclosed 24 holdings in its latest 13F filing for the period ending 2019-09-30, with total reported value of $74.3M and a quarterly turnover rate of 44.4%.
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Vilas Fund, LP's disclosed holdings carry a Herfindahl concentration index of 0.089 — mathematically equivalent to about 11 equally-sized positions, well below its 24 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.08), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 43% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim NMIH
-68.7% -$6.7M
Add VIAB
+121.6% $4.8M
Trim WFC
-50.0% -$1.8M
Add LNC
+27.2% $659.0K
Trim AL
-30.6% -$885.0K
Add FDX
+200.0% $545.0K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | CVS | Cvs Health CORP | Stock-Healthcare | 19.24% | -0.67% | -23.95% | |
| 2 | VIAB | Viacom Inc-class B | Stock-Other | 14.62% | +7.15% | +121.57% | |
| 3 | WBA | Walgreens Boots Alliance INC | Stock-Other | 9.38% | -0.54% | -14.86% | |
| 4 | CI | THE Cigna Group | Stock-Healthcare | 6.54% | +6.54% | NEW | |
| 5 | HMC | Honda Motor Co Ltd-spons Adr | Stock-Consumer Disc | 5.90% | -0.69% | -19.23% | |
| 6 | LNC | Lincoln National CORP | Stock-Financials | 5.54% | +1.30% | +27.24% | |
| 7 | C | Citigroup INC | Stock-Financials | 4.65% | +0.36% | — | |
| 8 | NMIH | Nmi Holdings INC | Stock-Financials | 3.68% | -7.89% | -68.72% | |
| 9 | STT | State Street CORP | Stock-Financials | 3.06% | +0.04% | -12.73% | |
| 10 | MTG | Mgic Investment CORP | Stock-Financials | 3.05% | -0.40% | -15.89% | |
| 11 | MS | Morgan Stanley | Stock-Financials | 2.87% | +0.18% | — | |
| 12 | AL | Air Lease CORP | Stock-Other | 2.81% | -0.84% | -30.56% | |
| 13 | WFC | Wells Fargo & Co | Stock-Financials | 2.72% | -1.92% | -50.00% | |
| 14 | UBS | UBS Group AG | Stock-Financials | 2.44% | -0.01% | -4.99% | |
| 15 | ABBV | Abbvie INC | Stock-Healthcare | 2.24% | +2.24% | NEW | |
| 16 | GS | Goldman Sachs Group INC | Stock-Financials | 2.23% | -0.28% | -20.00% | |
| 17 | BCS | Barclays Plc-spons Adr | Stock-Financials | 2.06% | +0.19% | +4.00% | |
| 18 | MET | Metlife INC | Stock-Financials | 1.52% | -0.19% | -14.29% | |
| 19 | BAC | Bank Of America CORP | Stock-Financials | 1.26% | -0.16% | -20.00% | |
| 20 | PRU | Prudential Financial INC | Stock-Financials | 1.21% | +1.21% | NEW | |
| 21 | FDX | Fedex CORP | Stock-Industrials | 1.18% | +0.78% | +200.00% | |
| 22 | RCL | Royal Caribbean Cruises Ltd. | Stock-Consumer Disc | 1.10% | +0.13% | +14.29% | |
| 23 | BHC | Bausch Health Cos INC | Stock-Healthcare | 0.41% | +0.04% | +16.67% | |
| 24 | ✓ | Clearbridge | Stock-Other | 0.31% | +0.31% | NEW |
Not enough priced holdings yet to compute performance
Vilas Fund, LP's most significant position changes for 2019-09-30: New buy: THE Cigna Group (CI); New buy: Abbvie INC (ABBV); Sold out: Mckesson CORP (MCK); Sold out: Alphabet Inc-cl C (GOOG); Sold out: Kraft Heinz Co/the (KHC).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VIAB | Viacom Inc-class B | +7.2% | +121.57% | Add |
| 2 | LNC | Lincoln National CORP | +1.3% | +27.24% | Add |
| 3 | FDX | Fedex CORP | +0.8% | +200.00% | Add |
| 4 | C | Citigroup INC | +0.4% | — | Unchanged |
| 5 | BCS | Barclays Plc-spons Adr | +0.2% | +4.00% | Add |
| 6 | MS | Morgan Stanley | +0.2% | — | Unchanged |
| 7 | RCL | Royal Caribbean Cruises Ltd. | +0.1% | +14.29% | Add |
| 8 | STT | State Street CORP | 0% | -12.73% | Trim |
| 9 | BHC | Bausch Health Cos INC | 0% | +16.67% | Add |
| 10 | UBS | UBS Group AG | 0% | -4.99% | Trim |
| 11 | BAC | Bank Of America CORP | -0.2% | -20.00% | Trim |
| 12 | MET | Metlife INC | -0.2% | -14.29% | Trim |
| 13 | GS | Goldman Sachs Group INC | -0.3% | -20.00% | Trim |
| 14 | MTG | Mgic Investment CORP | -0.4% | -15.89% | Trim |
| 15 | WBA | Walgreens Boots Alliance INC | -0.5% | -14.86% | Trim |
| 16 | CVS | Cvs Health CORP | -0.7% | -23.95% | Trim |
| 17 | HMC | Honda Motor Co Ltd-spons Adr | -0.7% | -19.23% | Trim |
| 18 | AL | Air Lease CORP | -0.8% | -30.56% | Trim |
| 19 | WFC | Wells Fargo & Co | -1.9% | -50.00% | Trim |
| 20 | NMIH | Nmi Holdings INC | -7.9% | -68.72% | Trim |
| 21 | CI | THE Cigna Group | — | NEW | New buy |
| 22 | ABBV | Abbvie INC | — | NEW | New buy |
| 23 | MCK | Mckesson CORP | — | EXIT | Sold out |
| 24 | GOOG | Alphabet Inc-cl C | — | EXIT | Sold out |
| 25 | KHC | Kraft Heinz Co/the | — | EXIT | Sold out |
| 26 | PRU | Prudential Financial INC | — | NEW | New buy |
| 27 | MUFG | Mitsubishi Ufj Finl-spon Adr | — | EXIT | Sold out |
| 28 | CAH | Cardinal Health INC | — | EXIT | Sold out |
| 29 | RIG | Transocean Ltd. | — | EXIT | Sold out |
| 30 | STLA | Stellantis N.V. | — | EXIT | Sold out |
| 31 | GNW | Genworth Financial INC | — | EXIT | Sold out |
| 32 | ✓ | Clearbridge | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-05 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-13 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
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