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Azora Capital LP Portfolio holdings
AUM
$2.37B
Turnover
66.67%
1-Year Est. Return
34.87%
This Fund
S&P 500
This Quarter
Est. Return
-18.38%
1 Year Est. Return
+34.87%
3 Year Est. Return
+175.11%
5 Year Est. Return
+160.22%
10 Year Est. Return
–
AUM
$627M
AUM Growth
-$154M
(-20%)
Cap. Flow
-$67.7M
Cap. Flow
% of AUM
-10.79%
Top 10 Holdings %
Top 10 Hldgs %
64.91%
Holding
50
New
14
Increased
9
Reduced
5
Closed
18
Avg Time Held Equity + Options
0.3
years
Top 10 Avg Time Held Equity + Options
0.2
years
Top 20 Avg Time Held Equity + Options
0.3
years
Avg Time Held Equity only
0.3
years
Top 10 Avg Time Held Equity only
0.2
years
Top 20 Avg Time Held Equity only
0.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Synovus
SNV
|
+$63.5M |
| 2 |
American Express
AXP
|
+$42.4M |
| 3 |
ISBC
Investors Bancorp, Inc.
ISBC
|
+$38.5M |
| 4 |
Synchrony
SYF
|
+$31.2M |
| 5 |
M&T Bank
MTB
|
+$29.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SIVB
SVB Financial Group
SIVB
|
+$83.6M |
| 2 |
Citigroup
C
|
+$81.9M |
| 3 |
Wintrust Financial
WTFC
|
+$77.4M |
| 4 |
TCF
TCF Financial Corporation
TCF
|
+$32.9M |
| 5 |
Texas Capital Bancshares
TCBI
|
+$27.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 94.88% |
| 2 | Miscellaneous | 4.34% |
| 3 | Consumer Discretionary | 0.78% |
| 4 | Real Estate | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
LPL Financial
LPLA
$25.5B
| $57M | 9.1% |
933,753
+331,864
| +55% | +$20.2M |
2017 Q4
4 quarters
|
|
|
2
DELISTED
Synovus
SNV
| $53.8M | 8.59% |
+1,682,681
| New | +$63.5M |
2018 Q4
0 quarters
|
|
3
Capital One
COF
$119B
| $51.2M | 8.17% |
677,679
+108,420
| +19% | +$9.39M |
2018 Q3
1 quarter
|
|
|
4
M&T Bank
MTB
$31.2B
| $45.8M | 7.3% |
319,849
+186,671
| +140% | +$29.8M |
2018 Q2
2 quarters
|
|
|
5
American Express
AXP
$207B
| $38.7M | 6.17% |
+405,595
| New | +$42.4M |
2018 Q4
0 quarters
|
|
|
6
Synchrony
SYF
$23.3B
| $37.2M | 5.93% |
1,584,805
+1,153,905
| +268% | +$31.2M |
2018 Q3
1 quarter
|
|
|
ISBC
7
DELISTED
Investors Bancorp, Inc.
ISBC
| $34.7M | 5.53% |
+3,332,057
| New | +$38.5M |
2018 Q4
0 quarters
|
|
|
STL
8
DELISTED
Sterling Bancorp
STL
| $31.5M | 5.02% |
1,906,289
+84,617
| +5% | +$1.58M |
2017 Q4
4 quarters
|
|
9
Stifel
SF
$10.2B
| $29.9M | 4.77% |
1,623,629
+1,436,481
| +768% | +$29.8M |
2018 Q3
1 quarter
|
|
|
SC
10
CALL
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
| $27.2M | 4.34% |
+1,546,800
| New | +$28.7M |
2018 Q4
0 quarters
|
|
|
ATH
11
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $23.9M | 3.8% |
+598,899
| New | +$27M |
2018 Q4
0 quarters
|
|
|
TCF
12
DELISTED
TCF Financial Corporation
TCF
| $22.5M | 3.58% |
1,152,300
-1,522,034
| -57% | -$32.9M |
2017 Q4
4 quarters
|
|
13
Invesco
IVZ
$12.3B
| $15.8M | 2.53% |
+946,061
| New | +$18.9M |
2018 Q4
0 quarters
|
|
14
Truist Financial
TFC
$55.7B
| $14.1M | 2.25% |
+325,100
| New | +$15.6M |
2018 Q4
0 quarters
|
|
|
FOCS
15
DELISTED
Focus Financial Partners Inc. Class A
FOCS
| $14.1M | 2.25% |
534,789
-312,411
| -37% | -$10.9M |
2018 Q3
1 quarter
|
|
16
Mastercard
MA
$528B
| $13.8M | 2.19% |
+72,907
| New | +$14.5M |
2018 Q4
0 quarters
|
|
17
DELISTED
Discover Financial Services
DFS
| $13.3M | 2.12% |
225,277
-3,416
| -1% | -$236K |
2018 Q3
1 quarter
|
|
18
Goldman Sachs
GS
$256B
| $11.8M | 1.88% |
+70,663
| New | +$14.3M |
2018 Q4
0 quarters
|
|
19
International Bancshares
IBOC
$4.18B
| $11.7M | 1.87% |
340,773
-135,610
| -28% | -$5.22M |
2017 Q4
4 quarters
|
|
|
MSL
20
DELISTED
Midsouth Bancorp, Inc.
MSL
| $11.5M | 1.83% |
1,083,682
+85,085
| +9% | +$1.12M |
2018 Q3
1 quarter
|
|
21
JPMorgan Chase
JPM
$890B
| $9.13M | 1.46% |
+93,570
| New | +$9.97M |
2018 Q4
0 quarters
|
|
22
DELISTED
First Foundation Inc
FFWM
| $8.23M | 1.31% |
639,881
| – | – |
2018 Q2
2 quarters
|
|
23
Victory Capital Holdings
VCTR
$6.53B
| $8.09M | 1.29% |
+791,631
| New | +$7.73M |
2018 Q4
0 quarters
|
|
24
Amalgamated Financial
AMAL
$1.39B
| $7.69M | 1.23% |
394,583
+97,186
| +33% | +$1.91M |
2018 Q3
1 quarter
|
|
|
ETFC
25
DELISTED
E*Trade Financial Corporation
ETFC
| $7.15M | 1.14% |
+162,919
| New | +$7.98M |
2018 Q4
0 quarters
|
|
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Azora Capital LP's Q4 2018 Portfolio in Review
As of Q4 2018, Azora Capital LP held 50 positions worth $627M, down 20% from $781M the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Azora Capital LP withdrew a net $67.7M in Q4 2018, closing 18 positions and reducing 5 holdings. Its most notable exit was SVB Financial Group, an estimated $83.6M position sold in full.
By sector, the portfolio is most concentrated in Financials at 95% of assets, down from 98% a quarter earlier, followed by Miscellaneous and Consumer Discretionary.
Against the trend, Azora Capital LP opened a new position in Synovus worth $53.8M.
- Azora Capital LP's largest Q4 2018 buy was Synovus: 1,682,681 shares worth $53.8M.
- Azora Capital LP added most to Synchrony in Q4 2018, an estimated $31.2M increase.
- Azora Capital LP's biggest Q4 2018 reduction was TCF Financial Corporation, cutting an estimated $32.9M.
- Azora Capital LP fully exited SVB Financial Group in Q4 2018, selling an estimated $83.6M.
- Azora Capital LP's ten largest holdings make up 65% of its $627M portfolio in Q4 2018.
- Azora Capital LP opened 14 new positions and closed 18 in Q4 2018.
- Azora Capital LP's portfolio value fell 20% quarter-over-quarter to $627M.
Based on Azora Capital LP's 13F filing for Q4 2018, filed 14 Feb 2019.