By: Manisha Sethi Aug. 01, 2018
P.A.W. Capital Corp’s SEC 13F filings for Q1 2018 dated April 26, 2018, report a portfolio value of $83.23 million, with the top 10 holdings accounting for about 40.85%. P.A.W. Capital Corp’s largest holding is 6,65,000 shares of Emcore Corp. (EMKR). P.A.W. Capital Corp. was founded in 1990 and is based in Greenwich, Connecticut. It is an employee-owned hedge fund sponsor with a well-diversified portfolio. The firm typically invests in the technology sector and provides investment advisory, portfolio management, and financial planning services. The firm primarily provides its services to pooled investment vehicles. In addition, it caters to high net worth individuals and charitable organizations. P.A.W. Capital Corp. invests in the public equity markets of the United States and employs long- and short-term strategies to make its investments.
According to Raltin, around 48.03% or 49 of the firm’s new stock buys outperform S&P 500, whereas 51.97% or 53 new buys (between Q1 2014 and Q1 2018) underperform the index. In addition, 44 out of 102 new buys outperform the index by more than 10%, while 36 underperform it by more than 10%. Raltin’s detailed methodology to calculate the stocks’ performance against S&P 500 can be found here. The table below shows the total number of new stock purchases and the various S&P performance categories.
|S&P outperformance category||Number of new stock purchases||Total new purchases (%)|
|10 to 20%||8||7.84|
|0 to 10%||5||4.9|
|-10 to 0%||17||16.67|
|-20 to -10%||12||11.76|
Of the 8 new stocks purchased this quarter, Gaiam, Inc. (GAIA) from the consumer discretionary sector and Electronics For Imaging, Inc. (EFII) from the IT sector account for 2.98% and 2.46% of the portfolio. The next table elaborates on the new purchases as well as the number of shares and their holding values.
|Stocks||Number of shares||Holding value ($1,000)|
|Gaiam, Inc. (GAIA)||160,000||2,480|
|Electronics For Imaging, Inc. (EFII)||75,000||2,050|
|Celgene Corp. (CELG)||5,000||446|
|Cellectis S.A. (CLLS)||13,500||425|
|Cue Biopharma, Inc. (CUE)||30,000||422|
|Newell Brands Inc. (NWL)||15,000||382|
|AMMO, Inc. (POWW)||200,000||330|
|Intel Corp. (INTC)||4,000||208|
The following table shows the portfolio value from Q1 2016 to Q1 2017 and the top holdings that outperform the S&P 500 IRR in each quarter. Several new picks such as Uniqure NV (QURE), Chegg, Inc. (CHGG), Teladoc, Inc. (TDOC), and Ceragon Networks Ltd. (CRNT) outperform S&P 500 by more than 100%.
|Period||Total portfolio value ($Mn)||Top holdings (ticker, % of IRR difference from S&P 500)|
|Q1 2017||98.93||Uniqure NV (QURE, 296.48), Enphase Energy, Inc. (ENPH, 223.02), R1 RCM Inc. (RCM, 119.94)|
|Q4 2016||88.5||Amazon.com, Inc. (AMZN, 36.7), Kratos Defense & Security Solutions, Inc. (KTOS, 23.81),|
|Q3 2016||99.67||Galmed Pharmaceuticals Ltd. (GLMD, 90.07), CoreCivic, Inc. (CXW, 77.16), Everbridge, Inc. (EVBG, 40.7)|
|Q2 2016||87.37||Chegg, Inc. (CHGG, 130.37), Teladoc, Inc. (TDOC, 101.18), ChemoCentryx, Inc. (CCXI, 93.03)|
|Q1 2016||89.13||Ceragon Networks Ltd. (CRNT, 142.78), Sierra Wireless, Inc. (SWIR, 67.9), FormFactor, Inc. (FORM, 48.29)|