EATZ: 4th Quarter 2021 Portfolio Review
While the Fund’s overall performance is largely tied to the success of the restaurant industry, we aim for relative outperformance through good individual security selection and successful trading.
Only one new addition to the portfolio during the quarter: Sweetgreen, Inc. (NYSE: SG). Of course, over the three-month period, we did add on to multiple positions while trimming others that were less attractive.
Contributors / Detractors:
During this continued difficult time for the industry, the losers continued to outnumber winners. However, some of our largest holdings were among the best contributors. Del Taco (NASDAQ: TACO) gained over 43% on buyout news. Large holding RCI Hospitality (NNASDAQ: RICK was up 13.75%. Domino’s Pizza (NYSE: DPZ) gained over 18%, while Papa Johns was also a gainer. We just added One Group Hospitality (NASDAQ: STKS) at the end of September and it gained 17.96% for the quarter.
Losers were mostly from big chains or technology-based. Most were not large holdings. DoorDash and Just Eat Takeaway were down; and Bloomin Brands, Brinker, and Cheesecake Factory were among the most significant negatives.
|Ticker||Security Description||Portfolio Weight %|
|RICK||RCI HOSPITALITY HOLDINGS INC||7.15%|
|PZZA||PAPA JOHN’S INTL INC||5.77%|
|DPZ||DOMINO’S PIZZA INC||5.69%|
|TACO||DEL TACO RESTAURANTS INC||5.42%|
|PLAY||DAVE & BUSTER’S ENTERTAINMEN||4.99%|
|STKS||ONE GROUP HOSPITALITY INC/TH||4.71%|
|FRGI||FIESTA RESTAURANT GROUP||4.14%|
|DRI||DARDEN RESTAURANTS INC||4.10%|
|BLMN||BLOOMIN’ BRANDS INC||4.01%|
As of 12.31.2021. Cash is not included. Subject to change.
Please see our complete Fund holdings at advisorshares.com/etfs/eatz. The holdings details are updated each market day.