IPO Candy Folio Review

These are positions we are keeping

Bright Horizons (BFAM) - Company has done a great job and everyone needs quality child care. Lots of headroom in this market and reliability provides some "moat."

Coherus (CHRS) - We like the biosimilar opportunity in terms of risk/reward. This is big data meets drug development.

Ellie Mae (ELLI) - Sticking with a winner in streamlining mortgages. Still far from automated.

Facebook (FB) - Still plenty of runway here... video strong, business version  next.

Financial Engines (FNGN) - Been good, time to make room.

FireEye (FIRE) - Getting punished but we're sticking with them. Information security remains a strong enterprise market.

New Relic (NEWR) - is a next generation application portfolio management. State of the art software, effective marketing, SaaS business model.

Proto Labs (PRLB) - Rapid turn manufacturing is a major shift in the industrial space. ProtoLabs enjoys a superior position as a service provider - they can leverage any and all technologies, including 3D printing.

QLIK Technologies (QLIK) - Yes we wish we had picked Tableau (DATA) in the BI space but we're not giving up on QLIK.

Silver Spring Networks (SSNI) - This is our play on "smart infrastructure." Lighting is really a Trojan horse.

Tesla (TSLA) - Units are still small and the majors are investing. Tesla is still miles ahead in terms of innovation.

We are cleaning house and removing these names

AAC Holdings (AAC) - We acknowledge that the market demand from substance abuse is recession proof but the ambulance chaser tactics of this company makes us feel like it's not right for our Folio.

Amplify Snack Brands (BETR) - It's all about competition. Popcorn just isn't hard to make.

Bluebird Bio (BLUE) - Our timing on this could have been better on this one but as good as the past has been on this one the future has become less certain. We don't have what we need to know who is right on this one. We're taking our chips on this one and going home.

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Disclosure: We do not have any vested interest in the shares of this stock at the time of writing and publication. We may however take a position post publication and are not under any obligation to ...

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