# Vilas Fund, LP

> Institutional holdings reported to the SEC as of Q3 2019 on Form 13F. CIK 1600375. Source: https://holderbook.com/funds/1600375-vilas-fund-lp/

- Reported value: $74.3M
- Positions: 24
- Weight of the ten largest: 75.6%
- Filed: 2019-11-14

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 |
|---|---|---|---|---|---|
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $14.3M | 226,634 | 19.2% | 4 |
| VIACOM INC NEW | [VIAB](https://holderbook.com/stocks/VIAB/) | $10.9M | 452,000 | 14.6% | 4 |
| WALGREENS BOOTS ALLIANCE INC | [WBA](https://holderbook.com/stocks/WBA/) | $7.0M | 126,000 | 9.4% | 4 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $4.9M | 32,000 | 6.5% | 1 |
| HONDA MOTOR CO LTD | [HMC](https://holderbook.com/stocks/HMC/) | $4.4M | 168,000 | 5.9% | 4 |
| LINCOLN NATL CORP IND | [LNC](https://holderbook.com/stocks/LNC/) | $4.1M | 68,200 | 5.5% | 4 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $3.5M | 50,000 | 4.6% | 4 |
| NMI HLDGS INC | [NMIH](https://holderbook.com/stocks/NMIH/) | $2.7M | 104,000 | 3.7% | 4 |
| STATE STR CORP | [STT](https://holderbook.com/stocks/STT/) | $2.3M | 38,400 | 3.1% | 4 |
| MGIC INVT CORP WIS | [MTG](https://holderbook.com/stocks/MTG/) | $2.3M | 180,000 | 3.0% | 4 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $2.1M | 50,000 | 2.9% | 4 |
| AIR LEASE CORP | [AL](https://holderbook.com/stocks/AL/) | $2.1M | 50,000 | 2.8% | 4 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $2.0M | 40,000 | 2.7% | 4 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $1.8M | 160,000 | 2.4% | 4 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.7M | 22,000 | 2.2% | 1 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $1.7M | 8,000 | 2.2% | 4 |
| BARCLAYS PLC | [BCS](https://holderbook.com/stocks/BCS/) | $1.5M | 208,000 | 2.1% | 4 |
| METLIFE INC | [MET](https://holderbook.com/stocks/MET/) | $1.1M | 24,000 | 1.5% | 4 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $933.0K | 32,000 | 1.3% | 4 |
| PRUDENTIAL FINL INC | [PRU](https://holderbook.com/stocks/PRU/) | $900.0K | 10,000 | 1.2% | 1 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $873.0K | 6,000 | 1.2% | 2 |
| ROYAL BK SCOTLAND GROUP PLC | [RBS](https://holderbook.com/stocks/RBS/) | $816.0K | 160,000 | 1.1% | 2 |
| BAUSCH HEALTH COS INC | [BHC](https://holderbook.com/stocks/BHC/) | $306.0K | 14,000 | 0.4% | 4 |
| CLEARBRIDGE MLP AND MIDSTRM | [CEMXXXX](https://holderbook.com/stocks/CEMXXXX/) | $228.0K | 20,000 | 0.3% | 1 |

## 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 |
|---|---|---|---|---|
| Q3 2019 | +0.6% | +1.3% | -0.7% | 100% |
| Q2 2019 | +2.7% | +3.7% | -1.0% | 100% |
| Q1 2019 | +14.3% | +13.0% | +1.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2019 | $74.3M | 24 |
| Q2 2019 | $81.6M | 28 |
| Q1 2019 | $71.8M | 24 |
| Q4 2018 | $44.1M | 24 |