By: Manisha Sethi Oct. 04, 2018
The SEC 13F filing of Tekne Capital Management, LLC, on May 14 showed that for the first quarter of 2018, the total portfolio value of the company was $372.95 million. The top 10 holdings of the investor constituted 87.31% of the portfolio; 6,44,253 shares were of T-Mobile US, Inc. (TMUS), amounting to $39.32 million, making it the investor’s largest holding.
Tekne Capital Management, LLC, is based out of New York and was founded in 2012. It predominantly invests in IT, communications, and the consumer discretionary sector. Tekne Capital Management provides investment management services and offers portfolio management, financial planning, investment advisory, and consulting services to private investment funds.
According to Raltin’s analysis, around 52.47% or 32 new stock buys of Tekne Capital Management outperform the S&P 500, whereas only 47.53% or 29 new stock buys (between Q1 2014 & Q1 2018) underperform the index. Only 12 new stocks of 61 underperform the index by more than 20%. Raltin’s detailed methodology for calculating performance relative to the S&P 500 is given here. The table given below shows the total number of new stock purchases and the various S&P outperformance categories.
|S&P outperformance category||Number of new stock purchases||Total new purchases (%)|
|-10 to 0%||9||14.75|
|-20 to -10%||8||13.11|
Tekne Capital Management bought 4 new stocks this quarter, of which Autodesk, Inc. (ADSK) and PagSeguro Digital Ltd. (PAGS) made up 9.96% and 7.28% of the portfolio, respectively. The following table provides the number of shares of the new buys along with their holding values.
|Stocks||Number of shares||Holding value ($1,000)|
|Autodesk, Inc. (ADSK)||295,905||37,160|
|PagSeguro Digital Ltd. (PAGS)||708,651||27,156|
|Broadcom Limited (AVGO)||113,986||26,861|
|Vipshop Holdings, Inc. (VIPS)||1,519,502||25,254|
The following table shows the portfolio value of the investor for 5 quarters from Q1 2017 to Q1 2016 and the top holdings in each quarter that outperformed the S&P 500 IRR. Square, Inc. (SQ) and Micron Technology, Inc. (MU), outperformed the index by more than 100%.
|Period||Total portfolio value ($Mn)||Top holdings (ticker, % of IRR difference from S&P 500)|
|Q4 2016||408.629||Square, Inc. (SQ; 135.58), Salesforce.com, Inc. (CRM; 30.05),|
|Q3 2016||636.816||Micron Technology, Inc. (MU; 105.49), Stamps.com, Inc. (STMP; 98.67), The Priceline Group Inc. (PCLN; 8.3)|
|Q2 2016||369.298||JD.com, Inc. (JD; 69.31), Alibaba Group Holding Limited (BABA; 61.74), Netflix, Inc. (NFLX; 47.9)|
|Q1 2016||321.466||Zayo Group Holdings, Inc. (ZAYO; 21.02)|