# CSat Investment Advisory, L.P.

> Institutional holdings reported to the SEC as of Q1 2021 on Form 13F. CIK 1483801. Source: https://holderbook.com/funds/1483801-csat-investment-advisory-l-p/

- Reported value: $119.1M
- Positions: 520
- Weight of the ten largest: 28.8%
- Filed: 2021-05-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $5.9M | 47,965 | 4.9% | 10 |
| SOUTHWEST AIRLS CO | [LUV](https://holderbook.com/stocks/LUV/) | $3.8M | 61,529 | 3.2% | 10 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.6M | 1,752 | 3.0% | 10 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $3.3M | 11,774 | 2.8% | 10 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $3.1M | 47,839 | 2.6% | 10 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $3.1M | 994 | 2.6% | 10 |
| HILTON WORLDWIDE HLDGS INC | [HLT](https://holderbook.com/stocks/HLT/) | $3.1M | 25,353 | 2.6% | 10 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $2.9M | 18,310 | 2.4% | 10 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $2.9M | 38,484 | 2.4% | 10 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $2.7M | 19,086 | 2.3% | 10 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $2.7M | 21,358 | 2.2% | 10 |
| METLIFE INC | [MET](https://holderbook.com/stocks/MET/) | $2.3M | 38,267 | 2.0% | 10 |
| HUMANA INC | [HUM](https://holderbook.com/stocks/HUM/) | $2.3M | 5,462 | 1.9% | 10 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $2.2M | 8,775 | 1.9% | 10 |
| ETSY INC | [ETSY](https://holderbook.com/stocks/ETSY/) | $2.2M | 11,037 | 1.9% | 9 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $2.2M | 4,141 | 1.8% | 10 |
| NORDSTROM INC | [JWN](https://holderbook.com/stocks/JWN/) | $2.1M | 55,887 | 1.8% | 1 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $2.0M | 10,728 | 1.7% | 10 |
| L BRANDS INC | [LB](https://holderbook.com/stocks/LB/) | $2.0M | 31,680 | 1.6% | 10 |
| CHIPOTLE MEXICAN GRILL INC | [CMG](https://holderbook.com/stocks/CMG/) | $2.0M | 1,379 | 1.6% | 10 |
| CLOROX CO DEL | [CLX](https://holderbook.com/stocks/CLX/) | $1.8M | 9,439 | 1.5% | 10 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $1.8M | 4,967 | 1.5% | 10 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $1.5M | 3,957 | 1.2% | 10 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $1.4M | 24,895 | 1.2% | 10 |
| PINTEREST INC | [PINS](https://holderbook.com/stocks/PINS/) | $1.4M | 19,534 | 1.2% | 8 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $1.3M | 9,842 | 1.1% | 10 |
| VONAGE HLDGS CORP | [VG](https://holderbook.com/stocks/VG/) | $1.3M | 108,907 | 1.1% | 10 |
| ATMOS ENERGY CORP | [ATO](https://holderbook.com/stocks/ATO/) | $1.1M | 11,495 | 1.0% | 10 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $1.1M | 4,807 | 1.0% | 10 |
| CENTERPOINT ENERGY INC | [CNP](https://holderbook.com/stocks/CNP/) | $1.1M | 49,325 | 0.9% | 10 |
| LEVI STRAUSS & CO NEW | [LEVI](https://holderbook.com/stocks/LEVI/) | $1.1M | 46,714 | 0.9% | 2 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $1.1M | 8,588 | 0.9% | 10 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.1M | 6,909 | 0.9% | 10 |
| PULTE GROUP INC | [PHM](https://holderbook.com/stocks/PHM/) | $1.0M | 19,343 | 0.9% | 10 |
| NETAPP INC | [NTAP](https://holderbook.com/stocks/NTAP/) | $973.0K | 13,392 | 0.8% | 10 |
| D R HORTON INC | [DHI](https://holderbook.com/stocks/DHI/) | $970.0K | 10,884 | 0.8% | 10 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $951.0K | 29,968 | 0.8% | 10 |
| BIOGEN INC | [BIIB](https://holderbook.com/stocks/BIIB/) | $942.0K | 3,369 | 0.8% | 10 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $941.0K | 9,846 | 0.8% | 10 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $936.0K | 18,102 | 0.8% | 10 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $935.0K | 1,844 | 0.8% | 10 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $935.0K | 13,330 | 0.8% | 10 |
| EBAY INC. | [EBAY](https://holderbook.com/stocks/EBAY/) | $930.0K | 15,187 | 0.8% | 10 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $930.0K | 2,518 | 0.8% | 10 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $930.0K | 6,864 | 0.8% | 10 |
| VIRTU FINL INC | [VIRT](https://holderbook.com/stocks/VIRT/) | $930.0K | 29,954 | 0.8% | 4 |
| FIRST AMERN FINL CORP | [FAF](https://holderbook.com/stocks/FAF/) | $926.0K | 16,338 | 0.8% | 8 |
| MERITAGE HOMES CORP | [MTH](https://holderbook.com/stocks/MTH/) | $920.0K | 10,011 | 0.8% | 2 |
| FEDERATED HERMES INC | [FHI](https://holderbook.com/stocks/FHI/) | $906.0K | 28,940 | 0.8% | 2 |
| ALLSTATE CORP | [ALL](https://holderbook.com/stocks/ALL/) | $904.0K | 7,872 | 0.8% | 10 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $900.0K | 3,618 | 0.8% | 10 |
| SYNCHRONY FINANCIAL | [SYF](https://holderbook.com/stocks/SYF/) | $900.0K | 22,132 | 0.8% | 10 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $897.0K | 11,869 | 0.8% | 10 |
| MOLINA HEALTHCARE INC | [MOH](https://holderbook.com/stocks/MOH/) | $887.0K | 3,796 | 0.7% | 8 |
| BEST BUY INC | [BBY](https://holderbook.com/stocks/BBY/) | $886.0K | 7,718 | 0.7% | 10 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $884.0K | 13,805 | 0.7% | 10 |
| SEI INVTS CO | [SEIC](https://holderbook.com/stocks/SEIC/) | $877.0K | 14,392 | 0.7% | 1 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $871.0K | 9,444 | 0.7% | 6 |
| UNITED THERAPEUTICS CORP DEL | [UTHR](https://holderbook.com/stocks/UTHR/) | $865.0K | 5,173 | 0.7% | 8 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $856.0K | 55,121 | 0.7% | 2 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $851.0K | 6,267 | 0.7% | 10 |
| JANUS HENDERSON GROUP PLC | [JHG](https://holderbook.com/stocks/JHG/) | $843.0K | 27,053 | 0.7% | 1 |
| EVERCORE INC | [EVR](https://holderbook.com/stocks/EVR/) | $837.0K | 6,353 | 0.7% | 8 |
| QUIDEL CORP | [QDELXXXX](https://holderbook.com/stocks/QDELXXXX/) | $835.0K | 6,527 | 0.7% | 1 |
| PERRIGO CO PLC | [PRGO](https://holderbook.com/stocks/PRGO/) | $148.0K | 3,665 | 0.1% | 10 |
| RALPH LAUREN CORP | [RL](https://holderbook.com/stocks/RL/) | $137.0K | 1,109 | 0.1% | 10 |
| UNUM GROUP | [UNM](https://holderbook.com/stocks/UNM/) | $133.0K | 4,785 | 0.1% | 10 |
| GAP INC | [GAP](https://holderbook.com/stocks/GAP/) | $125.0K | 4,210 | 0.1% | 10 |
| DXC TECHNOLOGY CO | [DXC](https://holderbook.com/stocks/DXC/) | $120.0K | 3,837 | 0.1% | 10 |
| HOLLYFRONTIER CORP | [HFC](https://holderbook.com/stocks/HFC/) | $117.0K | 3,263 | 0.1% | 10 |
| ROLLINS INC | [ROL](https://holderbook.com/stocks/ROL/) | $117.0K | 3,397 | 0.1% | 10 |
| FLIR SYS INC | [FLIR](https://holderbook.com/stocks/FLIR/) | $116.0K | 2,059 | 0.1% | 10 |
| LEGGETT & PLATT INC | [LEG](https://holderbook.com/stocks/LEG/) | $116.0K | 2,552 | 0.1% | 10 |
| SEALED AIR CORP NEW | [SEE](https://holderbook.com/stocks/SEE/) | $114.0K | 2,492 | 0.1% | 10 |
| HUNTINGTON INGALLS INDS INC | [HII](https://holderbook.com/stocks/HII/) | $111.0K | 539 | 0.1% | 10 |
| HANESBRANDS INC | [HBI](https://holderbook.com/stocks/HBI/) | $110.0K | 5,613 | 0.1% | 10 |
| COTERRA ENERGY INC | [CTRA](https://holderbook.com/stocks/CTRA/) | $109.0K | 5,817 | 0.1% | 10 |
| IPG PHOTONICS CORP | [IPGP](https://holderbook.com/stocks/IPGP/) | $109.0K | 515 | 0.1% | 10 |
| ASSURANT INC | [AIZ](https://holderbook.com/stocks/AIZ/) | $108.0K | 764 | 0.1% | 10 |
| FRANKLIN RESOURCES INC | [BEN](https://holderbook.com/stocks/BEN/) | $107.0K | 3,626 | 0.1% | 10 |
| PVH CORPORATION | [PVH](https://holderbook.com/stocks/PVH/) | $106.0K | 1,003 | 0.1% | 10 |
| DAVITA INC | [DVA](https://holderbook.com/stocks/DVA/) | $104.0K | 967 | 0.1% | 10 |
| NOV INC | [NOV](https://holderbook.com/stocks/NOV/) | $104.0K | 7,594 | 0.1% | 1 |
| MOLSON COORS BEVERAGE CO | [TAP](https://holderbook.com/stocks/TAP/) | $103.0K | 2,006 | 0.1% | 10 |
| PEOPLES UNITED FINANCIAL INC | [PBCT](https://holderbook.com/stocks/PBCT/) | $102.0K | 5,676 | 0.1% | 10 |
| ALASKA AIR GROUP INC | [ALK](https://holderbook.com/stocks/ALK/) | $99.0K | 1,430 | 0.1% | 10 |
| FEDERAL REALTY INVT TR | [FRT](https://holderbook.com/stocks/FRT/) | $99.0K | 979 | 0.1% | 10 |
| NISOURCE INC | [NI](https://holderbook.com/stocks/NI/) | $99.0K | 4,121 | 0.1% | 10 |
| SMITH A O CORP | [AOS](https://holderbook.com/stocks/AOS/) | $99.0K | 1,464 | 0.1% | 10 |
| VORNADO RLTY TR | [VNO](https://holderbook.com/stocks/VNO/) | $99.0K | 2,181 | 0.1% | 10 |
| JUNIPER NETWORKS INC | [JNPR](https://holderbook.com/stocks/JNPR/) | $98.0K | 3,879 | 0.1% | 10 |
| PINNACLE WEST CAP CORP | [PNW](https://holderbook.com/stocks/PNW/) | $97.0K | 1,188 | 0.1% | 10 |
| KIMCO REALTY CORP | [KIM](https://holderbook.com/stocks/KIM/) | $92.0K | 4,904 | 0.1% | 10 |
| ROBERT HALF INC. | [RHI](https://holderbook.com/stocks/RHI/) | $92.0K | 1,184 | 0.1% | 10 |
| NEWELL BRANDS INC | [NWL](https://holderbook.com/stocks/NWL/) | $90.0K | 3,375 | 0.1% | 10 |
| THE CAMPBELLS COMPANY | [CPB](https://holderbook.com/stocks/CPB/) | $88.0K | 1,759 | 0.1% | 10 |
| SCHEIN HENRY INC | [HSIC](https://holderbook.com/stocks/HSIC/) | $88.0K | 1,277 | 0.1% | 10 |
| PENTAIR PLC | [PNR](https://holderbook.com/stocks/PNR/) | $87.0K | 1,400 | 0.1% | 10 |
| APA CORPORATION | [APA](https://holderbook.com/stocks/APA/) | $86.0K | 4,829 | 0.1% | 1 |
| DISH NETWORK CORPORATION | [DISH](https://holderbook.com/stocks/DISH/) | $86.0K | 2,389 | 0.1% | 10 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2021 | +10.0% | +6.0% | +4.0% | 100% |
| Q4 2020 | +16.6% | +11.6% | +5.0% | 65% |
| Q3 2020 | +8.9% | +8.6% | +0.3% | 100% |
| Q2 2020 | +23.0% | +19.6% | +3.4% | 100% |
| Q1 2020 | -21.4% | -19.9% | -1.5% | 100% |
| Q4 2019 | +7.4% | +8.5% | -1.0% | 100% |
| Q3 2019 | +0.1% | +1.3% | -1.1% | 99% |
| Q2 2019 | +2.2% | +3.7% | -1.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2021 | $119.1M | 520 |
| Q4 2020 | $107.6M | 520 |
| Q3 2020 | $1.1B | 1,088 |
| Q2 2020 | $824.7M | 1,100 |
| Q1 2020 | $470.6M | 1,071 |
| Q4 2019 | $379.9M | 1,079 |
| Q3 2019 | $318.0M | 1,067 |
| Q2 2019 | $283.0M | 1,076 |
| Q1 2019 | $197.9M | 549 |
| Q4 2018 | $167.9M | 547 |