Blackstart Capital L.P. 13F annual report

Blackstart Capital L.P. is an investment fund managing more than $151 million ran by Robert Beinish. There are currently 21 companies in Mr. Beinish’s portfolio. The largest investments include First and NiSource, together worth $26.4 million.

$151 million Assets Under Management (AUM)

As of 7th October 2020, Blackstart Capital L.P.’s top holding is 396,056 shares of First currently worth over $15.4 million and making up 10.2% of the portfolio value. Relative to the number of outstanding shares of First, Blackstart Capital L.P. owns more than approximately 0.1% of the company. In addition, the fund holds 485,573 shares of NiSource worth $11 million, whose value fell 13.2% in the past six months. The third-largest holding is CenterPoint worth $10.6 million and the next is Edison Intl worth $10.6 million, with 195,513 shares owned.

Currently, Blackstart Capital L.P.'s portfolio is worth at least $151 million. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Blackstart Capital L.P.

The Blackstart Capital L.P. office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Robert Beinish serves as the Compliance Consultant at Blackstart Capital L.P..

Recent trades

In the most recent 13F filing, Blackstart Capital L.P. revealed that it had opened a new position in NiSource and bought 485,573 shares worth $11 million. This means they effectively own approximately 0.1% of the company. NiSource makes up 11.3% of the fund's Utilities sector allocation and has decreased its share price by 19.0% in the past year.

The investment fund also strengthened its position in First by buying 274,598 additional shares. This makes their stake in First total 396,056 shares worth $15.4 million. First dropped 34.0% in the past year.

On the other hand, there are companies that Blackstart Capital L.P. is getting rid of from its portfolio. Blackstart Capital L.P. closed its position in Duke on 14th August 2020. It sold the previously owned 61,630 shares for $4.99 million. Robert Beinish also disclosed a decreased stake in Evergy by approximately 0.1%. This leaves the value of the investment at $6.34 million and 106,891 shares.

One of the smallest hedge funds

The two most similar investment funds to Blackstart Capital L.P. are Canaan Partners Ix and Wealthbridge Investment Counsel. They manage $151 million and $151 million respectively.


Robert Beinish investment strategy

Blackstart Capital L.P.’s portfolio is diversified across 3 sectors. Currently, their heaviest sector is Utilities — making up 64.7% of the total portfolio value. The fund focuses on investments in the United States as 61.9% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 48% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $23.8 billion.

The complete list of Blackstart Capital L.P. trades based on 13F SEC filings

These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
FirstEnergy Corp.
226.08%
396,056
$15,359,000 10.20%
NiSource, Inc.
Opened
485,573
$11,042,000 7.33%
CenterPoint Energy, Inc.
254.79%
569,636
$10,635,000 7.06%
Edison Intl
171.57%
195,513
$10,618,000 7.05%
NextEra Energy, Inc.
341.78%
44,143
$10,602,000 7.04%
OGE Energy Corp.
Opened
348,102
$10,568,000 7.02%
The AES Corp.
89.97%
462,605
$6,703,000 4.45%
New Jersey Res
Opened
197,176
$6,438,000 4.27%
PPL Corp.
116.35%
247,784
$6,403,000 4.25%
Essential Utils Inc
120.33%
151,251
$6,389,000 4.24%
Eversource Energy
Opened
76,540
$6,373,000 4.23%
Consolidated Edison, Inc.
Opened
88,565
$6,370,000 4.23%
Vistra Energy Corp
Opened
341,692
$6,362,000 4.22%
Algonquin Pwr Utils Corp
Opened
491,425
$6,348,000 4.22%
Evergy, Inc.
6.65%
106,891
$6,338,000 4.21%
Pge Corp
116.63%
710,718
$6,304,000 4.19%
CMS Energy Corp.
Opened
107,290
$6,268,000 4.16%
Pnm Res Inc
80.99%
162,397
$6,243,000 4.15%
Duke Energy Corp.
Closed
61,630
$4,985,000
Barclays Bk Plc
Opened
118,821
$4,034,000 2.68%
Pinnacle West Cap Corp
Closed
47,417
$3,594,000
ALLETE, Inc.
Closed
42,508
$2,579,000
WEC Energy Group, Inc.
Closed
26,759
$2,358,000
Atlantica Yield Plc
Closed
105,245
$2,347,000
New Fortress Energy LLC
22.43%
60,396
$783,000 0.52%
Tallgrass Energy Lp
Closed
44,619
$734,000
Alps Etf Tr
Closed
182,743
$629,000
Enphase Energy, Inc.
Opened
8,809
$419,000 0.28%
No transactions found
Showing first 500 out of 28 holdings