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Blackthorn Investment Group Portfolio holdings

AUM $26.8M
1-Year Est. Return 12.33%
This Fund
S&P 500
This Quarter Est. Return
-5.68%
1 Year Est. Return
-12.33%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$28.5M
AUM Growth
-$8.58M
Cap. Flow
-$6.53M
Cap. Flow %
-22.91%
Top 10 Hldgs %
41.9%
Holding
117
New
33
Increased
3
Reduced
26
Closed
51

Top Buys

Rank Stock Value
1
PBR.A icon
Petrobras Class A
PBR.A
+$3.41M
2
VALE.P
Vale S A
VALE.P
+$1.56M
3
EGN
Energen
EGN
+$1.47M
4
EFC
Ellington Financial
EFC
+$1.27M
5
KRE icon
State Street SPDR S&P Regional Banking ETF
KRE
+$1.17M

Top Sells

Rank Stock Value
1
AMTG
APOLLO RESIDENTIAL MTG INC COM STK
AMTG
+$1.13M
2
MFIC icon
MidCap Financial Investment
MFIC
+$965K
3
MTGE
MTGE Investment Corp. Common Stock
MTGE
+$921K
4
WMC
Western Asset Mortgage Capital Corporation
WMC
+$850K
5
NMFC icon
New Mountain Finance
NMFC
+$835K

Sector Composition

Rank Sector Weight
1 Financials 44.87%
2 Real Estate 17.91%
3 Energy 16.04%
4 Consumer Discretionary 0.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IBCP icon
76
Independent Bank Corp
IBCP
$793M
– –
-17,475
Closed -$225K
KRNY icon
77
Kearny Financial
KRNY
$604M
– –
-27,608
Closed -$303K
MFIC icon
78
MidCap Financial Investment
MFIC
$800M
– –
-37,360
Closed -$965K
MITT
79
TPG Mortgage Investment Trust
MITT
$222M
– –
-8,300
Closed -$471K
MTG icon
80
MGIC Investment
MTG
$6.21B
– –
-40,000
Closed -$370K
NMFC icon
81
New Mountain Finance
NMFC
$723M
– –
-56,169
Closed -$835K
PFBC icon
82
Preferred Bank
PFBC
$1.25B
– –
-17,000
Closed -$402K
PPBI
83
DELISTED
Pacific Premier Bancorp
PPBI
– –
-20,000
Closed -$282K
RF icon
84
Regions Financial
RF
$26.8B
– –
-62,238
Closed -$661K
SFNC icon
85
Simmons First National
SFNC
$3.4B
– –
-27,780
Closed -$547K
TCPC icon
86
BlackRock TCP Capital
TCPC
$327M
– –
-22,511
Closed -$410K
WAL icon
87
Western Alliance Bancorporation
WAL
$8.87B
– –
-20,000
Closed -$476K
UCB
88
United Community Banks
UCB
$4.28B
– –
-22,171
Closed -$363K
WMC
89
DELISTED
Western Asset Mortgage Capital Corporation
WMC
– –
-6,000
Closed -$850K
PMBC
90
DELISTED
Pacific Mercantile Bancorp
PMBC
– –
-53,091
Closed -$354K
BOCH
91
DELISTED
Bank of Commerce Holdings (CA)
BOCH
– –
-51,563
Closed -$326K
MFNC
92
DELISTED
Mackinac Financial Corporation
MFNC
– –
-18,546
Closed -$239K
ETFC
93
DELISTED
E*Trade Financial Corporation
ETFC
– –
-10,008
Closed -$213K
CSFL
94
DELISTED
CenterState Bank Corporation Common Stock
CSFL
– –
-37,495
Closed -$420K
OPB
95
DELISTED
Opus Bank Common Stock
OPB
– –
-15,000
Closed -$436K
UCFC
96
DELISTED
United Community Financial Corp
UCFC
– –
-40,218
Closed -$166K
STI
97
DELISTED
SunTrust Banks, Inc.
STI
– –
-7,500
Closed -$300K
OLBK
98
DELISTED
Old Line Bancshares, Inc.
OLBK
– –
-18,980
Closed -$299K
MSL
99
DELISTED
Midsouth Bancorp, Inc.
MSL
– –
-18,840
Closed -$375K
HFBC
100
DELISTED
HopFed Bancorp Inc
HFBC
– –
-18,654
Closed -$217K
1 2 3
4
5

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SVAM
Steamboat Ventures Asia Manager Grand Cayman, Cayman Islands $27.5M AUM 27.17% 1-Year Est. Return
AC
AYM Capital New York $28.2M AUM 26.34% 1-Year Est. Return
MAM
Mercator Asset Management Boca Raton, Florida $28.3M AUM 23.5% 1-Year Est. Return
GBM
Grace Brothers Management Evanston, Illinois $24.4M AUM 2.58% 1-Year Est. Return
ACM
Argonaut Capital Management New York $29.8M AUM 6.73% 1-Year Est. Return
SCM
Seamans Capital Management Boston, Massachusetts $30.2M AUM 15.76% 1-Year Est. Return
WAM
Wavelength Asset Management New York $31M AUM 22.57% 1-Year Est. Return
BCM
Brightfield Capital Management New York $31.2M AUM 3.22% 1-Year Est. Return

Blackthorn Investment Group's Q3 2014 Portfolio in Review

As of Q3 2014, Blackthorn Investment Group held 117 positions worth $28.5M, down 23% from $37.1M the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Blackthorn Investment Group withdrew a net $6.53M in Q3 2014, closing 51 positions and reducing 26 holdings. Its most notable exit was APOLLO RESIDENTIAL MTG INC COM STK, an estimated $1.13M position sold in full.

By sector, the portfolio is most concentrated in Financials at 45% of assets, down from 63% a quarter earlier, followed by Real Estate and Energy.

Against the trend, Blackthorn Investment Group opened a new position in Petrobras Class A worth $2.85M.

  • Blackthorn Investment Group's largest Q3 2014 buy was Petrobras Class A: 191,700 shares worth $2.85M.
  • Blackthorn Investment Group added most to Five Oaks Investment Corp. in Q3 2014, an estimated $381K increase.
  • Blackthorn Investment Group's biggest Q3 2014 reduction was MTGE Investment Corp. Common Stock, cutting an estimated $921K.
  • Blackthorn Investment Group fully exited APOLLO RESIDENTIAL MTG INC COM STK in Q3 2014, selling an estimated $1.13M.
  • Blackthorn Investment Group's ten largest holdings make up 42% of its $28.5M portfolio in Q3 2014.
  • Blackthorn Investment Group opened 33 new positions and closed 51 in Q3 2014.
  • Blackthorn Investment Group's portfolio value fell 23% quarter-over-quarter to $28.5M.

Based on Blackthorn Investment Group's 13F filing for Q3 2014, filed 10 Nov 2014.