# Red Cedar Management, LP

> Institutional holdings reported to the SEC as of Q1 2020 on Form 13F. CIK 1703147. Source: https://holderbook.com/funds/1703147-red-cedar-management-lp/

- Reported value: $60.3M
- Positions: 20
- Weight of the ten largest: 72.7%
- Filed: 2020-05-15

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 |
|---|---|---|---|---|---|
| ECHOSTAR CORP | [ECHO](https://holderbook.com/stocks/ECHO/) | $8.1M | 252,240 | 13.4% | 6 |
| QUINSTREET INC | [QNST](https://holderbook.com/stocks/QNST/) | $8.1M | 1,000,000 | 13.4% | 6 |
| BLUCORA INC | [AVTA](https://holderbook.com/stocks/AVTA/) | $4.9M | 410,000 | 8.2% | 3 |
| U S CONCRETE INC | [USCR](https://holderbook.com/stocks/USCR/) | $4.5M | 250,000 | 7.5% | 6 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $4.4M | 2,250 | 7.3% | 1 |
| VULCAN MATLS CO | [VMC](https://holderbook.com/stocks/VMC/) | $3.6M | 33,000 | 5.9% | 1 |
| SUMMIT MATLS INC | [SUM](https://holderbook.com/stocks/SUM/) | $3.0M | 200,538 | 5.0% | 6 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $2.6M | 14,000 | 4.3% | 1 |
| ALARM COM HLDGS INC | [ALRM](https://holderbook.com/stocks/ALRM/) | $2.3M | 60,000 | 3.9% | 1 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $2.3M | 27,000 | 3.8% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.3M | 13,500 | 3.7% | 1 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $2.2M | 65,000 | 3.6% | 1 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $2.0M | 60,000 | 3.4% | 1 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $2.0M | 30,000 | 3.4% | 1 |
| WEX INC | [WEX](https://holderbook.com/stocks/WEX/) | $1.8M | 17,500 | 3.0% | 6 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $1.7M | 10,000 | 2.7% | 1 |
| TRIP COM GROUP LTD | [TCOM](https://holderbook.com/stocks/TCOM/) | $1.6M | 70,000 | 2.7% | 1 |
| DARDEN RESTAURANTS INC | [DRI](https://holderbook.com/stocks/DRI/) | $1.3M | 24,000 | 2.2% | 1 |
| SEI INVTS CO | [SEIC](https://holderbook.com/stocks/SEIC/) | $955.0K | 20,602 | 1.6% | 1 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $574.0K | 12,000 | 1.0% | 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 |
|---|---|---|---|---|
| Q1 2020 | -33.7% | -19.9% | -13.8% | 100% |
| Q4 2019 | +10.1% | +8.5% | +1.6% | 100% |
| Q3 2019 | +1.2% | +1.3% | -0.1% | 100% |
| Q2 2019 | +8.0% | +3.7% | +4.3% | 100% |
| Q1 2019 | +13.4% | +13.0% | +0.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2020 | $60.3M | 20 |
| Q4 2019 | $114.9M | 16 |
| Q3 2019 | $93.0M | 15 |
| Q2 2019 | $104.0M | 17 |
| Q1 2019 | $96.5M | 16 |
| Q4 2018 | $75.4M | 12 |