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ARM

Adirondack Research & Management Portfolio holdings

AUM $82.2M
1-Year Est. Return 63.78%
This Fund
S&P 500
This Quarter Est. Return
-22.63%
1 Year Est. Return
+63.78%
3 Year Est. Return
+47.81%
5 Year Est. Return
+101.13%
10 Year Est. Return
–
AUM
$160M
AUM Growth
-$107M
Cap. Flow
-$41.8M
Cap. Flow %
-26.15%
Top 10 Hldgs %
29.67%
Holding
118
New
5
Increased
26
Reduced
54
Closed
20

Top Buys

Rank Stock Value
1
AA icon
Alcoa
AA
+$2.86M
2
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
+$1.28M
3
NTCT icon
NETSCOUT
NTCT
+$1.06M
4
CNDT icon
Conduent
CNDT
+$735K
5
WLKP icon
Westlake Chemical Partners
WLKP
+$694K

Top Sells

Rank Stock Value
1
CIEN icon
Ciena
CIEN
+$6.34M
2
GTN icon
Gray Television
GTN
+$3.49M
3
PAAS icon
Pan American Silver
PAAS
+$3.12M
4
CHS
Chicos FAS, Inc.
CHS
+$2.82M
5
GHL
Greenhill & Co., Inc.
GHL
+$2.8M

Sector Composition

Rank Sector Weight
1 Financials 19.38%
2 Technology 17.98%
3 Consumer Discretionary 13.52%
4 Industrials 10.54%
5 Healthcare 7.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GNW icon
1
Genworth Financial
GNW
$3.87B
$5.5M 3.44%
1,179,566
+137,925
+13% +$595K
NWLI
2
DELISTED
National Western Life Group, Inc. Class A
NWLI
$5.27M 3.29%
17,519
+130
+0.7% +$38.1K
CLAR icon
3
Clarus
CLAR
$129M
$5.25M 3.28%
521,033
-198,852
-28% -$2.08M
OI icon
4
O-I Glass
OI
$1.37B
$5.08M 3.18%
294,888
-90,150
-23% -$1.57M
CVA
5
DELISTED
Covanta Holding Corporation
CVA
$4.73M 2.96%
352,780
-29,185
-8% -$450K
MDRX
6
DELISTED
Veradigm Inc. Common Stock
MDRX
$4.69M 2.93%
486,920
-34,257
-7% -$382K
DFIN icon
7
Donnelley Financial Solutions
DFIN
$1.22B
$4.67M 2.92%
332,539
-1,300
-0.4% -$20.8K
MTG icon
8
MGIC Investment
MTG
$6.2B
$4.13M 2.58%
394,383
-75,917
-16% -$888K
COWN
9
DELISTED
Cowen Inc. Class A Common Stock
COWN
$4.08M 2.55%
306,238
-121,030
-28% -$1.84M
MFA
10
MFA Financial
MFA
$944M
$4.05M 2.54%
151,763
-11,975
-7% -$336K
VG
11
DELISTED
Vonage Holdings Corporation
VG
$4M 2.5%
457,919
– –
ODP
12
DELISTED
ODP
ODP
$3.71M 2.32%
143,936
-7,151
-5% -$205K
CLS icon
13
Celestica
CLS
$35.3B
$3.7M 2.31%
421,832
-24,700
-6% -$247K
ADTN icon
14
Adtran
ADTN
$940M
$3.65M 2.29%
340,350
+10,700
+3% +$146K
CLF icon
15
Cleveland-Cliffs
CLF
$5.12B
$3.59M 2.25%
467,156
-33,700
-7% -$337K
FLY
16
DELISTED
Fly Leasing Limited
FLY
$3.54M 2.21%
335,231
-800
-0.2% -$10.2K
STC icon
17
Stewart Information Services
STC
$2.12B
$3.46M 2.16%
83,453
-50,082
-38% -$2.1M
COOP
18
DELISTED
Mr. Cooper
COOP
$3.39M 2.12%
290,247
-1
-0% -$14
SEB icon
19
Seaboard Corp
SEB
$4.34B
$3.36M 2.1%
950
+3
+0.3% +$11.1K
GTN icon
20
Gray Television
GTN
$420M
$3.12M 1.95%
211,740
-201,000
-49% -$3.49M
SANM icon
21
Sanmina
SANM
$10.8B
$3.07M 1.92%
127,486
-11,268
-8% -$283K
SWN
22
DELISTED
Southwestern Energy Company
SWN
$2.67M 1.67%
784,221
+80,000
+11% +$393K
CNO icon
23
CNO Financial Group
CNO
$4.95B
$2.58M 1.62%
173,697
+15,000
+9% +$274K
CNDT icon
24
Conduent
CNDT
$248M
$2.54M 1.59%
238,934
+47,200
+25% +$735K
AA icon
25
Alcoa
AA
$11.5B
$2.4M 1.5%
90,128
+85,000
+1,658% +$2.86M
1
2 3 4 5

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CAM
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BRCA
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CIM
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SCC
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TG
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RCIM
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MRCP
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Adirondack Research & Management's Q4 2018 Portfolio in Review

As of Q4 2018, Adirondack Research & Management held 118 positions worth $160M, down 40% from $267M the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Adirondack Research & Management withdrew a net $41.8M in Q4 2018, closing 20 positions and reducing 54 holdings. Its most notable exit was Pan American Silver, an estimated $3.12M position sold in full.

By sector, the portfolio is most concentrated in Financials at 19% of assets, up from 16% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Adirondack Research & Management opened a new position in NETSCOUT worth $995K.

  • Adirondack Research & Management's largest Q4 2018 buy was NETSCOUT: 42,100 shares worth $995K.
  • Adirondack Research & Management added most to Alcoa in Q4 2018, an estimated $2.86M increase.
  • Adirondack Research & Management's biggest Q4 2018 reduction was Ciena, cutting an estimated $6.34M.
  • Adirondack Research & Management fully exited Pan American Silver in Q4 2018, selling an estimated $3.12M.
  • Adirondack Research & Management's ten largest holdings make up 30% of its $160M portfolio in Q4 2018.
  • Adirondack Research & Management opened 5 new positions and closed 20 in Q4 2018.
  • Adirondack Research & Management's portfolio value fell 40% quarter-over-quarter to $160M.

Based on Adirondack Research & Management's 13F filing for Q4 2018, filed 8 Feb 2019.