Red Cedar Management, LP

CIK

1703147

Location

PARK CITY, UT

Portfolio Value

Micro $43,626,456

Diversification

Diversified

Filing Date

Mar 31, 2020

Global Rank

#4,172 / 5,303 · as of Mar 2020

Top Industry

Telecom Services 18.5%

3Y Alpha vs SPY

+13.4%

Period ended 6 years ago

Filed May 15, 2020 · 6y

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+130.5%

SPY

+76.5%

Annualised alpha

+11.2%

Max drawdown

−28.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

17 positions · as of Mar 31, 2020

Top Position

18.5%

of portfolio value

Top 5

56.5%

of portfolio value

Top 10

81.3%

of portfolio value

HHI

999

Diversified

Sector Breakdown

As of Mar 31, 2020

Sector	% Portfolio	Value	Positions
Communication Services	42.1%	$18,365,912	3
Consumer Cyclical	18.4%	$8,009,043	6
Financial Services	17.2%	$7,491,466	4
Technology	14.2%	$6,193,725	3
Basic Materials	8.2%	$3,566,310	1

Portfolio Positions

Compact Export CSV View 13F filing

17 positions · $43,626,456 total · as of Mar 31, 2020

All sectors Basic Materials Communication Services Consumer Cyclical Financial Services Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
ECHO	EchoStar CORP Communication Services	First	252,240	—	$8,064,112	—	18.48%
QNST	Quinstreet, Inc Communication Services	First	1,000,000	—	$8,050,000	—	18.45%
VMC	Vulcan Materials CO Basic Materials	First	33,000	—	$3,566,310	—	8.17%
HD	Home Depot, Inc. Consumer Cyclical	First	14,000	—	$2,613,940	—	5.99%
ALRM	Alarm.com Holdings, Inc. Technology	First	60,000	—	$2,334,600	—	5.35%
AXP	American Express Co Financial Services	First	27,000	—	$2,311,470	—	5.30%
META	Meta Platforms, Inc. Communication Services	First	13,500	—	$2,251,800	—	5.16%
SCHW	Schwab Charles Corp Financial Services	First	65,000	—	$2,185,300	—	5.01%
MS	Morgan Stanley Financial Services	First	60,000	—	$2,040,000	—	4.68%
QCOM	Qualcomm Inc/De Technology	First	30,000	—	$2,029,500	—	4.65%
WEX	WEX Inc. Technology	First	17,500	—	$1,829,625	—	4.19%
MCD	Mcdonalds Corp Consumer Cyclical	First	10,000	—	$1,653,500	—	3.79%
TCOM	Trip.com Group Ltd Consumer Cyclical	First	70,000	—	$1,641,500	—	3.76%
DRI	Darden Restaurants Inc Consumer Cyclical	First	24,000	—	$1,307,040	—	3.00%
SEIC	Sei Investments Co Financial Services	First	20,602	—	$954,696	—	2.19%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	First	12,000	—	$573,720	—	1.32%
AMZN	Amazon Com Inc Consumer Cyclical	First	2,250	—	$219,343	—	0.50%