ACL

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
+15.06%
1 Year Est. Return
+34.87%
3 Year Est. Return
+175.11%
5 Year Est. Return
+160.22%
10 Year Est. Return
–
AUM
$611M
AUM Growth
-$15.6M
Cap. Flow
-$42M
Cap. Flow %
-6.86%
Top 10 Hldgs %
66.81%
Holding
48
New
16
Increased
7
Reduced
9
Closed
14
Avg Time Held Equity + Options
0.3 years
Top 10 Avg Time Held Equity + Options
0.3 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
0.3 years
Top 20 Avg Time Held Equity only
0.3 years

Top Buys

Rank Stock Value
1
MS icon
Morgan Stanley
MS
+$62.5M
2
SC
SANTANDER CONSUMER USA HOLDINGS INC
SC
+$37.1M
3
C icon
Citigroup
C
+$36.1M
4
RF icon
Regions Financial
RF
+$32.6M
5
ETFC
E*Trade Financial Corporation
ETFC
+$31.8M

Top Sells

Rank Stock Value
1
MTB icon
M&T Bank
MTB
+$45.8M
2
AXP icon
American Express
AXP
+$38.7M
3
COF icon
Capital One
COF
+$38.5M
4
LPLA icon
LPL Financial
LPLA
+$36.3M
5
ISBC
Investors Bancorp, Inc.
ISBC
+$34.7M

Sector Composition

Rank Sector Weight
1 Financials 99.33%
2 Consumer Discretionary 0.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
MS icon
1
Morgan Stanley
MS
$285B
$62.7M 10.25%
+1,484,971
New +$62.5M
2019 Q1
0 quarters
SNV icon
2
DELISTED
Synovus
SNV
$55M 8.99%
1,599,405
-83,276
-5% -$3.06M
2018 Q4
1 quarter
STL
3
DELISTED
Sterling Bancorp
STL
$48.4M 7.91%
2,595,881
+689,592
+36% +$13.2M
2017 Q4
5 quarters
SC
4
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
$39.4M 6.44%
+1,862,406
New +$37.1M
2019 Q1
0 quarters
ETFC
5
DELISTED
E*Trade Financial Corporation
ETFC
$38.5M 6.3%
830,010
+667,091
+409% +$31.8M
2018 Q4
1 quarter
C icon
6
Citigroup
C
$205B
$36.2M 5.92%
+581,584
New +$36.1M
2019 Q1
0 quarters
SBNY
7
DELISTED
Signature Bank
SBNY
$35.4M 5.79%
276,556
+223,453
+421% +$28.5M
2018 Q4
1 quarter
SYF icon
8
Synchrony
SYF
$23.3B
$32.9M 5.38%
1,031,043
-553,762
-35% -$16.7M
2018 Q3
2 quarters
RF icon
9
Regions Financial
RF
$22.9B
$30.1M 4.93%
+2,130,411
New +$32.6M
2019 Q1
0 quarters
LPLA icon
10
LPL Financial
LPLA
$25.5B
$29.9M 4.9%
429,934
-503,819
-54% -$36.3M
2017 Q4
5 quarters
CIT
11
DELISTED
CIT Group Inc.
CIT
$20.7M 3.39%
+431,620
New +$20.3M
2019 Q1
0 quarters
VCTR icon
12
Victory Capital Holdings
VCTR
$6.53B
$19.2M 3.14%
1,279,224
+487,593
+62% +$5.94M
2018 Q4
1 quarter
COF icon
13
Capital One
COF
$119B
$16.7M 2.72%
203,865
-473,814
-70% -$38.5M
2018 Q3
2 quarters
JPM icon
14
JPMorgan Chase
JPM
$890B
$16.4M 2.69%
162,168
+68,598
+73% +$7.07M
2018 Q4
1 quarter
SF icon
15
Stifel
SF
$10.2B
$15.8M 2.58%
671,733
-951,896
-59% -$21.6M
2018 Q3
2 quarters
IBOC icon
16
International Bancshares
IBOC
$4.18B
$12.4M 2.03%
325,876
-14,897
-4% -$563K
2017 Q4
5 quarters
CADE icon
17
DELISTED
Cadence Bancorporation
CADE
$10.9M 1.78%
+585,049
New +$11.1M
2019 Q1
0 quarters
GS icon
18
Goldman Sachs
GS
$256B
$9M 1.47%
46,865
-23,798
-34% -$4.59M
2018 Q4
1 quarter
FFWM icon
19
DELISTED
First Foundation Inc
FFWM
$8.68M 1.42%
639,881
– –
2018 Q2
3 quarters
BKU icon
20
Bankunited
BKU
$2.92B
$8.52M 1.39%
+255,200
New +$8.8M
2019 Q1
0 quarters
FBP icon
21
First Bancorp
FBP
$4.08B
$8.37M 1.37%
+730,700
New +$7.71M
2019 Q1
0 quarters
PACW
22
DELISTED
PacWest Bancorp
PACW
$8.02M 1.31%
+213,100
New +$8.26M
2019 Q1
0 quarters
AMAL icon
23
Amalgamated Financial
AMAL
$1.39B
$7.19M 1.18%
459,557
+64,974
+16% +$1.17M
2018 Q3
2 quarters
ATH
24
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
$7.18M 1.17%
175,938
-422,961
-71% -$18.1M
2018 Q4
1 quarter
WT icon
25
WisdomTree
WT
$3.19B
$6.95M 1.14%
+984,926
New +$6.78M
2019 Q1
0 quarters
1
2

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Azora Capital LP's Q1 2019 Portfolio in Review

As of Q1 2019, Azora Capital LP held 48 positions worth $611M, down 2.5% from $627M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Azora Capital LP withdrew a net $42M in Q1 2019, closing 14 positions and reducing 9 holdings. Its most notable exit was M&T Bank, an estimated $45.8M position sold in full.

By sector, the portfolio is most concentrated in Financials at 99% of assets, up from 95% a quarter earlier, followed by Consumer Discretionary.

Against the trend, Azora Capital LP opened a new position in Morgan Stanley worth $62.7M.

  • Azora Capital LP's largest Q1 2019 buy was Morgan Stanley: 1,484,971 shares worth $62.7M.
  • Azora Capital LP added most to E*Trade Financial Corporation in Q1 2019, an estimated $31.8M increase.
  • Azora Capital LP's biggest Q1 2019 reduction was Capital One, cutting an estimated $38.5M.
  • Azora Capital LP fully exited M&T Bank in Q1 2019, selling an estimated $45.8M.
  • Azora Capital LP's ten largest holdings make up 67% of its $611M portfolio in Q1 2019.
  • Azora Capital LP opened 16 new positions and closed 14 in Q1 2019.
  • Azora Capital LP's portfolio value fell 2.5% quarter-over-quarter to $611M.

Based on Azora Capital LP's 13F filing for Q1 2019, filed 15 May 2019.