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CCM
Castine Capital Management Portfolio holdings
AUM
$129M
1-Year Est. Return
23.45%
This Fund
S&P 500
This Quarter
Est. Return
+38.23%
1 Year Est. Return
-23.45%
3 Year Est. Return
-13.92%
5 Year Est. Return
+51.62%
10 Year Est. Return
–
AUM
$239M
AUM Growth
+$38.2M
(+19%)
Cap. Flow
-$29.9M
Cap. Flow
% of AUM
-12.47%
Top 10 Holdings %
Top 10 Hldgs %
46.31%
Holding
41
New
4
Increased
3
Reduced
14
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
FBMS
The First Bancshares, Inc.
FBMS
|
+$6.04M |
| 2 |
SBNY
Signature Bank
SBNY
|
+$4.77M |
| 3 |
VBTX
Veritex Holdings
VBTX
|
+$4.42M |
| 4 |
Heritage Financial
HFWA
|
+$4.28M |
| 5 |
First Bancorp
FBNC
|
+$3.04M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
YDKN
Yadkin Financial Corporation
YDKN
|
+$8.14M |
| 2 |
QCR Holdings
QCRH
|
+$7.67M |
| 3 |
MBVT
Merchants Bancshares Inc
MBVT
|
+$7.45M |
| 4 |
BNCN
BNC Bancorp
BNCN
|
+$5.63M |
| 5 |
UBNK
United Financial Bancorp, Inc.
UBNK
|
+$4.84M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 98.14% |
| 2 | Miscellaneous | 1.86% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ESXB
1
DELISTED
Community Bankers Trust Corporation
ESXB
| $15.3M | 6.4% |
2,113,130
+342,791
| +19% | +$2.06M |
|
|
2
QCR Holdings
QCRH
$1.65B
| $12.9M | 5.38% |
297,723
-208,896
| -41% | -$7.67M |
|
3
KeyCorp
KEY
$23.4B
| $12.1M | 5.07% |
664,486
| – | – |
|
|
MBVT
4
DELISTED
Merchants Bancshares Inc
MBVT
| $11.8M | 4.94% |
218,200
-165,455
| -43% | -$7.45M |
|
5
First Merchants
FRME
$2.63B
| $10.9M | 4.54% |
288,965
| – | – |
|
|
VBTX
6
DELISTED
Veritex Holdings
VBTX
| $10.5M | 4.41% |
394,863
+215,000
| +120% | +$4.42M |
|
7
Seacoast Banking Corp of Florida
SBCF
$3.33B
| $9.93M | 4.15% |
450,000
-32,136
| -7% | -$610K |
|
|
TSC
8
DELISTED
TriState Capital Holdings, Inc.
TSC
| $9.49M | 3.96% |
429,566
| – | – |
|
9
Ameris Bancorp
ABCB
$5.74B
| $9.35M | 3.9% |
214,372
-39,331
| -16% | -$1.6M |
|
|
GWB
10
DELISTED
Great Western Bancorp, Inc.
GWB
| $8.51M | 3.55% |
195,136
-30,000
| -13% | -$1.12M |
|
|
CMA
11
DELISTED
Comerica
CMA
| $7.8M | 3.26% |
114,562
| – | – |
|
|
PACW
12
DELISTED
PacWest Bancorp
PACW
| $7.62M | 3.18% |
140,000
-60,664
| -30% | -$2.93M |
|
13
PNC Financial Services
PNC
$96.6B
| $7.26M | 3.03% |
62,067
| – | – |
|
|
FBMS
14
DELISTED
The First Bancshares, Inc.
FBMS
| $7.11M | 2.97% |
+258,721
| New | +$6.04M |
|
|
FFKT
15
DELISTED
Farmers Capital Bank Corp
FFKT
| $6.7M | 2.8% |
159,363
| – | – |
|
|
IBTX
16
DELISTED
Independent Bank Group, Inc.
IBTX
| $6.55M | 2.74% |
105,000
-21,787
| -17% | -$1.18M |
|
17
First Bancorp
FBP
$4.28B
| $5.95M | 2.48% |
900,000
-635,000
| -41% | -$3.74M |
|
|
FFWM
18
DELISTED
First Foundation Inc
FFWM
| $5.8M | 2.42% |
407,054
+89,722
| +28% | +$1.19M |
|
|
EVBN
19
DELISTED
Evans Bancorp Inc
EVBN
| $5.34M | 2.23% |
169,418
-2,600
| -2% | -$79.4K |
|
|
SBNY
20
DELISTED
Signature Bank
SBNY
| $5.26M | 2.2% |
+35,000
| New | +$4.77M |
|
|
21
Heritage Financial
HFWA
$1.17B
| $5.15M | 2.15% |
+200,000
| New | +$4.28M |
|
|
NCOM
22
DELISTED
National Commerce Corporation
NCOM
| $4.96M | 2.07% |
133,664
| – | – |
|
23
Western Alliance Bancorporation
WAL
$8.57B
| $4.5M | 1.88% |
92,380
| – | – |
|
|
CMA.WS
24
DELISTED
Comerica Incorporated Ws
CMA.WS
| $4.46M | 1.86% |
115,000
-124,800
| -52% | -$3.61M |
|
25
Zions Bancorporation
ZION
$9.89B
| $4.3M | 1.8% |
100,000
-13,449
| -12% | -$496K |
|
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Castine Capital Management's Q4 2016 Portfolio in Review
As of Q4 2016, Castine Capital Management held 41 positions worth $239M, up 19% from $201M the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Castine Capital Management withdrew a net $29.9M in Q4 2016, closing 5 positions and reducing 14 holdings. Its most notable exit was BNC Bancorp, an estimated $5.63M position sold in full.
By sector, the portfolio is most concentrated in Financials at 98% of assets, up from 98% a quarter earlier, followed by Miscellaneous.
Against the trend, Castine Capital Management opened a new position in The First Bancshares, Inc. worth $7.11M.
- Castine Capital Management's largest Q4 2016 buy was The First Bancshares, Inc.: 258,721 shares worth $7.11M.
- Castine Capital Management added most to Veritex Holdings in Q4 2016, an estimated $4.42M increase.
- Castine Capital Management's biggest Q4 2016 reduction was Yadkin Financial Corporation, cutting an estimated $8.14M.
- Castine Capital Management fully exited BNC Bancorp in Q4 2016, selling an estimated $5.63M.
- Castine Capital Management's ten largest holdings make up 46% of its $239M portfolio in Q4 2016.
- Castine Capital Management opened 4 new positions and closed 5 in Q4 2016.
- Castine Capital Management's portfolio value rose 19% quarter-over-quarter to $239M.
Based on Castine Capital Management's 13F filing for Q4 2016, filed 13 Feb 2017.