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New York City-based Totem Point Management increased its holdings in shares of BILL Holdings by 71,225 shares in the third quarter.
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The new holdings were valued at an estimated $3.77 million at quarter-end.
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It represents 3.36% of the fund’s 13F AUM and is not among the top five holdings.
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New York City-based Totem Point Management in bill holdings (NYSE: BILL)The company acquired 71,225 shares worth approximately $3.77 million, according to a Nov. 14 filing with the SEC.
According to a filing with the U.S. Securities and Exchange Commission on November 14, Totem Point Management bill holdings (NYSE: BILL) during the third quarter. As of September 30, the company reported owning 71,225 shares, a position worth $3.77 million. This marks the first time the fund has reported a stake in the company.
As of September 30, the new BILL position represented 3.36% of Totem Point’s total reportable U.S. equity assets under management.
Main holdings after filing:
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Nasdaq: NVDA: $14.28 million (12.7% of AUM)
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NYSE: TSM: $12.1 million (10.8% of AUM)
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NASDAQ: TTWO: $11.1 million (9.9% of AUM)
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NYSE: Spot: $10.17 million (9.1% of AUM)
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Nasdaq: MU: $9.79 million (8.7% of AUM)
As of Friday, BILL’s stock price was $55.23, down 38% from last year, far worse than the S&P 500 index, which rose 15% during the same period.
|
Metric |
value |
|---|---|
|
Earnings (cutoff time) |
US$1.5 billion |
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Net Profit (TTM) |
$11.93 million |
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Prices (as of Friday) |
$55.23 |
|
one year price change |
(38%) |
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BILL provides cloud-based software solutions for automating accounts payable, accounts receivable, expense management and payments workflows for small and medium-sized businesses.
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The company generates revenue primarily through a software-as-a-service (SaaS) subscription model, supplemented by transaction-based fees from payment processing and value-added services.
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It serves accounting firms, financial institutions, software companies, and a wide range of small and medium-sized enterprise clients around the world.
BILL operates at scale, leveraging its cloud platform to streamline financial operations for small and medium-sized businesses. The company’s SaaS business model provides recurring revenue, while its payments network facilitates efficient business-to-business transactions. Its focus is on the automation of back-office financial processes for small and medium-sized businesses.
BILL’s stock price has fallen nearly 40% over the past year, but its underlying business hasn’t stagnated as the chart suggests. For long-term investors, moments like these tend to separate cyclical disappointments from structural recessions. In its most recent quarter, BILL reported total revenue of $395.7 million, up 10% year over year, with core revenue up 14% as transaction volume and subscriptions continued to expand. The platform processed $89 billion in payment volume during the quarter and served nearly 500,000 businesses, underscoring that adoption has remained steady even as investor sentiment cooled.
This new position also fits perfectly with the portfolio of durable growth franchises like Nvidia, TSMC, and Spotify. Against this backdrop, Beal looks less like a speculative rally trade and more like a discount compounding company that has repriced its near-term profit and growth profile too aggressively.
Ultimately, the stock’s decline squeezed expectations, but the business itself is still expanding. Long-term opportunities often emerge from this gap.
