CIK: 0001425294
Total reported value
$117.9M
Reporting period: 2019-12-31 · Number of holdings: 24
White Elm Capital, LLC disclosed 24 holdings in its latest 13F filing for the period ending 2019-12-31, with total reported value of $117.9M and a quarterly turnover rate of 109.2%.
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White Elm Capital, LLC's disclosed holdings carry a Herfindahl concentration index of 0.051 — mathematically equivalent to about 20 equally-sized positions, close to its 24 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.49), 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 51% 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.
Add FICO
+10.4% $1.4M
Add TW
-27.1% -$554.0K
Add MA
-62.4% -$12.3M
Add WMS
-61.1% -$7.2M
Add CSGP
+125.3% $1.2M
Add TPLUSD
-66.1% -$10.4M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TDG | Transdigm Group INC | Stock-Industrials | 7.56% | +0.81% | -68.30% | |
| 2 | MA | Mastercard INC - A | Stock-Financials | 7.35% | +1.94% | -62.37% | |
| 3 | V | Visa Inc-class A Shares | Stock-Financials | 6.84% | +1.15% | -66.48% | |
| 4 | TPLUSD | Texas Pacific Land Trust | Stock-Other | 6.10% | +1.55% | -66.05% | |
| 5 | PYPL | Paypal Holdings INC | Stock-Financials | 5.76% | +1.27% | -62.55% | |
| 6 | NOW | Servicenow INC | Stock-Tech | 5.75% | +1.30% | -64.65% | |
| 7 | AMZN | Amazon.com INC | Stock-Consumer Disc | 5.49% | +1.05% | -64.65% | |
| 8 | WMS | Advanced Drainage Systems In | Stock-Industrials | 5.37% | +1.88% | -61.13% | |
| 9 | ADSK | Autodesk INC | Stock-Tech | 5.36% | +0.41% | -73.46% | |
| 10 | TW | Tradeweb Markets Inc-class A | Stock-Financials | 4.97% | +3.31% | -27.11% | |
| 11 | TRU | Transunion | Stock-Financials | 4.76% | +0.51% | -67.67% | |
| 12 | TEAM | Atlassian Corporation | Stock-Tech | 4.54% | +0.81% | -61.29% | |
| 13 | FICO | Fair Isaac CORP | Stock-Tech | 4.39% | +3.41% | +10.40% | |
| 14 | ADBE | Adobe INC | Stock-Tech | 4.09% | +0.42% | -71.60% | |
| 15 | MTN | Vail Resorts INC | Stock-Consumer Disc | 3.78% | -0.76% | -75.93% | |
| 16 | GWRE | Guidewire Software INC | Stock-Tech | 3.46% | -0.05% | -71.19% | |
| 17 | HLT | Hilton Worldwide Holdings In | Stock-Consumer Disc | 3.04% | +1.08% | -60.29% | |
| 18 | BKIEUR | Black Knight INC | Stock-Other | 2.94% | -0.70% | -76.71% | |
| 19 | MSCI | Msci INC | Stock-Financials | 2.39% | +1.07% | -53.42% | |
| 20 | CSGP | Costar Group INC | Stock-Real Estate | 1.88% | +1.63% | +125.33% | |
| 21 | FLT1EUR | Fleetcor Technologies INC | Stock-Other | 1.81% | -0.11% | -71.50% | |
| 22 | WIX | Wix.com Ltd. | Stock-Tech | 0.97% | -1.00% | -85.78% | |
| 23 | YUM | Yum! Brands INC | Stock-Consumer Disc | 0.96% | +0.24% | -54.29% | |
| 24 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.47% | +0.47% | NEW |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2019-12-31 | 24 | $117.9M | 100 | |
| 2019-09-30 | 31 | $387.1M | 21 | |
| 2019-06-30 | 27 | $407.0M | 17 | |
| 2019-03-31 | 28 | $379.8M | 28 | |
| 2018-12-31 | 31 | $359.2M | 38 | |
| 2018-09-30 | 30 | $420.4M | 20 | |
| 2018-06-30 | 60 | $418.6M | 40 | |
| 2018-03-31 | 60 | $455.8M | 25 | |
| 2017-12-31 | 58 | $473.6M | 23 | |
| 2017-09-30 | 56 | $505.3M | 28 | |
| 2017-06-30 | 54 | $526.1M | 25 | |
| 2017-03-31 | 50 | $537.3M | 49 | |
| 2016-12-31 | 50 | $648.5M | 39 | |
| 2016-09-30 | 58 | $789.9M | 26 | |
| 2016-06-30 | 54 | $865.0M | 25 | |
| 2016-03-31 | 52 | $908.8M | 12 | |
| 2015-12-31 | 56 | $960.3M | 20 | |
| 2015-09-30 | 60 | $965.5M | 27 | |
| 2015-06-30 | 52 | $985.3M | 18 | |
| 2015-03-31 | 50 | $930.6M | 27 | |
| 2014-12-31 | 52 | $1.0B | 36 | |
| 2014-09-30 | 58 | $1.1B | 31 | |
| 2014-06-30 | 58 | $1.2B | 22 | |
| 2014-03-31 | 56 | $1.2B | 40 | |
| 2013-12-31 | 54 | $1.1B | 38 | |
| 2013-09-30 | 60 | $1.0B | 39 | |
| 2013-06-30 | 54 | $804.8M | 0 |
White Elm Capital, LLC's most significant position changes for 2019-12-31: Sold out: Palo Alto Networks INC (PANW); Sold out: Citigroup INC (C); Sold out: US Foods Holding CORP (USFD); Sold out: Huntington Bancshares INC (HBAN); Sold out: Godaddy INC - Class A (GDDY).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | FICO | Fair Isaac CORP | +3.4% | +10.40% | Add |
| 2 | TW | Tradeweb Markets Inc-class A | +3.3% | -27.11% | Trim |
| 3 | MA | Mastercard INC - A | +1.9% | -62.37% | Trim |
| 4 | WMS | Advanced Drainage Systems In | +1.9% | -61.13% | Trim |
| 5 | CSGP | Costar Group INC | +1.6% | +125.33% | Add |
| 6 | TPLUSD | Texas Pacific Land Trust | +1.6% | -66.05% | Trim |
| 7 | NOW | Servicenow INC | +1.3% | -64.65% | Trim |
| 8 | PYPL | Paypal Holdings INC | +1.3% | -62.55% | Trim |
| 9 | V | Visa Inc-class A Shares | +1.2% | -66.48% | Trim |
| 10 | HLT | Hilton Worldwide Holdings In | +1.1% | -60.29% | Trim |
| 11 | MSCI | Msci INC | +1.1% | -53.42% | Trim |
| 12 | AMZN | Amazon.com INC | +1.1% | -64.65% | Trim |
| 13 | TDG | Transdigm Group INC | +0.8% | -68.30% | Trim |
| 14 | TEAM | Atlassian Corporation | +0.8% | -61.29% | Trim |
| 15 | TRU | Transunion | +0.5% | -67.67% | Trim |
| 16 | ADBE | Adobe INC | +0.4% | -71.60% | Trim |
| 17 | ADSK | Autodesk INC | +0.4% | -73.46% | Trim |
| 18 | YUM | Yum! Brands INC | +0.2% | -54.29% | Trim |
| 19 | GWRE | Guidewire Software INC | -0.1% | -71.19% | Trim |
| 20 | FLT1EUR | Fleetcor Technologies INC | -0.1% | -71.50% | Trim |
| 21 | BKIEUR | Black Knight INC | -0.7% | -76.71% | Trim |
| 22 | MTN | Vail Resorts INC | -0.8% | -75.93% | Trim |
| 23 | WIX | Wix.com Ltd. | -1% | -85.78% | Trim |
| 24 | PANW | Palo Alto Networks INC | — | EXIT | Sold out |
| 25 | C | Citigroup INC | — | EXIT | Sold out |
| 26 | USFD | US Foods Holding CORP | — | EXIT | Sold out |
| 27 | HBAN | Huntington Bancshares INC | — | EXIT | Sold out |
| 28 | GDDY | Godaddy INC - Class A | — | EXIT | Sold out |
| 29 | TIFEUR | Tiffany & Co | — | EXIT | Sold out |
| 30 | AMD | Advanced Micro Devices | — | EXIT | Sold out |
| 31 | TMO | Thermo Fisher Scientific INC | — | EXIT | Sold out |
| 32 | COST | Costco Wholesale CORP | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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