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ACL

Azora Capital LP Portfolio holdings

AUM $1.52B
1-Year Est. Return 39.16%
This Fund
S&P 500
This Quarter Est. Return
-31.27%
1 Year Est. Return
+39.16%
3 Year Est. Return
+154.67%
5 Year Est. Return
+137.02%
10 Year Est. Return
–
AUM
$258M
AUM Growth
-$446M
Cap. Flow
-$321M
Cap. Flow %
-124.22%
Top 10 Hldgs %
69.73%
Holding
56
New
18
Increased
4
Reduced
8
Closed
26

Top Buys

1
JPM icon
JPMorgan Chase
JPM
+$40.8M
2
GPN icon
Global Payments
GPN
+$34.3M
3
FHN icon
First Horizon
FHN
+$34.1M
4
SEIC icon
SEI Investments
SEIC
+$24.5M
5
FIS icon
Fidelity National Information Services
FIS
+$23.9M

Top Sells

1
BFH icon
Bread Financial
BFH
+$62.9M
2
AXP icon
American Express
AXP
+$46.6M
3
SCHW
Charles Schwab
SCHW
+$46.2M
4
SIVB
SVB Financial Group
SIVB
+$41.6M
5
STT icon
State Street
STT
+$38M

Sector Composition

1 Financials 81.43%
2 Industrials 10.48%
3 Technology 8.09%
4 Communication Services 0%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COWN
26
DELISTED
Cowen Inc. Class A Common Stock
COWN
$2.09M 0.81%
+216,568
New +$3.09M
IBKC
27
DELISTED
IBERIABANK Corp
IBKC
$2.02M 0.78%
+55,779
New +$3.47M
KEY icon
28
KeyCorp
KEY
$25.9B
$1.38M 0.54%
133,425
-1,102,510
-89% -$18.3M
STT icon
29
State Street
STT
$51.4B
$1.24M 0.48%
23,300
-547,375
-96% -$38M
SPFI icon
30
South Plains Financial
SPFI
$847M
$249K 0.1%
16,107
-33,893
-68% -$651K
AXP icon
31
American Express
AXP
$247B
– –
-374,133
Closed -$46.6M
BFH icon
32
Bread Financial
BFH
$3.97B
– –
-701,906
Closed -$62.9M
BNY
33
Bank of New York Mellon
BNY
$110B
– –
-364,746
Closed -$18.4M
BSVN icon
34
Bank7 Corp
BSVN
$481M
– –
-162,563
Closed -$3.08M
CRMT icon
35
America's Car Mart
CRMT
$34.9M
– –
-81,589
Closed -$8.95M
FITB
36
Fifth Third Bancorp
FITB
$53.8B
– –
-431,934
Closed -$13.3M
NTRS icon
37
Northern Trust
NTRS
$34.9B
– –
-116,641
Closed -$12.4M
OMF icon
38
OneMain Financial
OMF
$7.08B
– –
-421,107
Closed -$17.8M
QNST icon
39
QuinStreet
QNST
$994M
– –
-237,501
Closed -$3.64M
SCHW
40
Charles Schwab
SCHW
$179B
– –
-971,541
Closed -$46.2M
SYF icon
41
Synchrony
SYF
$25B
– –
-425,916
Closed -$15.3M
TCBI icon
42
Texas Capital Bancshares
TCBI
$4.71B
– –
-141,363
Closed -$8.03M
TW icon
43
Tradeweb Markets
TW
$21.6B
– –
-226,114
Closed -$10.5M
WAL icon
44
Western Alliance Bancorporation
WAL
$9.17B
– –
-268,884
Closed -$15.3M
WBS icon
45
Webster Financial
WBS
$12.4B
– –
-629,139
Closed -$33.6M
WFC icon
46
Wells Fargo
WFC
$267B
– –
-639,927
Closed -$34.4M
AMK
47
DELISTED
AssetMark Financial Holdings, Inc.
AMK
– –
-616,321
Closed -$17.9M
CATC
48
DELISTED
CAMBRIDGE BANCORP
CATC
– –
-20,000
Closed -$1.6M
AVTA
49
DELISTED
Avantax, Inc. Common Stock
AVTA
– –
-227,205
Closed -$5.94M
SC
50
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
– –
-266,396
Closed -$6.23M
1
2
3

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MCIL
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ARAM
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SW
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AM
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PAG
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Azora Capital LP's Q1 2020 Portfolio in Review

As of Q1 2020, Azora Capital LP held 56 positions worth $258M, down 63% from $704M the previous quarter. Its ten largest holdings account for 70% of the portfolio.

Azora Capital LP withdrew a net $321M in Q1 2020, closing 26 positions and reducing 8 holdings. Its most notable exit was Bread Financial, an estimated $62.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 81% of assets, down from 98% a quarter earlier, followed by Industrials and Technology.

Against the trend, Azora Capital LP opened a new position in JPMorgan Chase worth $30.2M.

  • Azora Capital LP's largest Q1 2020 buy was JPMorgan Chase: 335,788 shares worth $30.2M.
  • Azora Capital LP added most to Goldman Sachs in Q1 2020, an estimated $16.1M increase.
  • Azora Capital LP's biggest Q1 2020 reduction was State Street, cutting an estimated $38M.
  • Azora Capital LP fully exited Bread Financial in Q1 2020, selling an estimated $62.9M.
  • Azora Capital LP's ten largest holdings make up 70% of its $258M portfolio in Q1 2020.
  • Azora Capital LP opened 18 new positions and closed 26 in Q1 2020.
  • Azora Capital LP's portfolio value fell 63% quarter-over-quarter to $258M.

Based on Azora Capital LP's 13F filing for Q1 2020, filed 15 May 2020.