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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
-17.85%
1 Year Est. Return
-23.45%
3 Year Est. Return
-13.92%
5 Year Est. Return
+51.62%
10 Year Est. Return
–
AUM
$293M
AUM Growth
-$43.6M
(-13%)
Cap. Flow
+$17.9M
Cap. Flow
% of AUM
6.13%
Top 10 Holdings %
Top 10 Hldgs %
48.48%
Holding
50
New
6
Increased
25
Reduced
7
Closed
12
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LION
Fidelity Southern Corporation
LION
|
+$22.1M |
| 2 |
Bank of America
BAC
|
+$12.6M |
| 3 |
STL
Sterling Bancorp
STL
|
+$8.24M |
| 4 |
UBNK
United Financial Bancorp, Inc.
UBNK
|
+$7.47M |
| 5 |
PACW
PacWest Bancorp
PACW
|
+$5.98M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of N.T. Butterfield & Son
NTB
|
+$16.9M |
| 2 |
Ameris Bancorp
ABCB
|
+$7.72M |
| 3 |
TSC
TriState Capital Holdings, Inc.
TSC
|
+$7.29M |
| 4 |
VBTX
Veritex Holdings
VBTX
|
+$6.74M |
| 5 |
DCOM
Dime Community Bancshares
DCOM
|
+$4.58M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
LION
1
DELISTED
Fidelity Southern Corporation
LION
| $24.4M | 8.35% |
+939,423
| New | +$22.1M |
|
|
STL
2
DELISTED
Sterling Bancorp
STL
| $20.6M | 7.03% |
1,246,000
+442,341
| +55% | +$8.24M |
|
|
UBNK
3
DELISTED
United Financial Bancorp, Inc.
UBNK
| $14.3M | 4.89% |
973,962
+473,166
| +94% | +$7.47M |
|
|
ESXB
4
DELISTED
Community Bankers Trust Corporation
ESXB
| $14.3M | 4.89% |
1,982,312
+222,457
| +13% | +$1.85M |
|
5
Citizens Financial Group
CFG
$29.4B
| $11.9M | 4.06% |
400,000
+46,016
| +13% | +$1.61M |
|
|
6
Bank of America
BAC
$436B
| $11.5M | 3.92% |
+465,000
| New | +$12.6M |
|
|
FBMS
7
DELISTED
The First Bancshares, Inc.
FBMS
| $11.3M | 3.86% |
373,043
+17,037
| +5% | +$595K |
|
8
Western Alliance Bancorporation
WAL
$8.57B
| $11.3M | 3.85% |
285,170
+85,535
| +43% | +$4.04M |
|
9
KeyCorp
KEY
$23.4B
| $11.2M | 3.84% |
760,302
-7,630
| -1% | -$134K |
|
|
CATC
10
DELISTED
CAMBRIDGE BANCORP
CATC
| $11.1M | 3.79% |
133,292
+2,049
| +2% | +$174K |
|
|
IBKC
11
DELISTED
IBERIABANK Corp
IBKC
| $10.6M | 3.62% |
165,000
+64,048
| +63% | +$4.7M |
|
12
QCR Holdings
QCRH
$1.65B
| $10.6M | 3.62% |
329,960
+40,570
| +14% | +$1.46M |
|
13
Civista Bancshares
CIVB
$571M
| $8.94M | 3.06% |
513,260
+100,127
| +24% | +$2.12M |
|
|
PCSB
14
DELISTED
PCSB Financial Corporation
PCSB
| $8.34M | 2.85% |
426,301
+175,036
| +70% | +$3.42M |
|
15
TriCo Bancshares
TCBK
$1.72B
| $7.92M | 2.71% |
234,400
+10,512
| +5% | +$378K |
|
16
First Merchants
FRME
$2.63B
| $7.34M | 2.51% |
214,185
-3,073
| -1% | -$125K |
|
|
TCF
17
DELISTED
TCF Financial Corporation Common Stock
TCF
| $6.99M | 2.39% |
190,841
+18,427
| +11% | +$842K |
|
18
PNC Financial Services
PNC
$96.6B
| $6.98M | 2.39% |
59,742
+1,164
| +2% | +$149K |
|
19
First Bancorp
FBNC
$2.65B
| $6.46M | 2.21% |
197,693
+1,815
| +0.9% | +$67.8K |
|
20
Old Second Bancorp
OSBC
$1.28B
| $6.03M | 2.06% |
464,122
+9,000
| +2% | +$127K |
|
21
Southern First Bancshares
SFST
$590M
| $5.98M | 2.04% |
186,473
+4,191
| +2% | +$150K |
|
22
LCNB Corp
LCNB
$277M
| $5.7M | 1.95% |
376,213
+47,610
| +14% | +$801K |
|
|
PVBC
23
DELISTED
Provident Bancorp
PVBC
| $5.67M | 1.94% |
528,720
+2,619
| +0.5% | +$32.8K |
|
24
Equity Bancshares
EQBK
$1.02B
| $5.39M | 1.84% |
152,967
-57,791
| -27% | -$2.1M |
|
25
First Financial Corp
THFF
$942M
| $5M | 1.71% |
124,578
+27,136
| +28% | +$1.25M |
|
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Castine Capital Management's Q4 2018 Portfolio in Review
As of Q4 2018, Castine Capital Management held 50 positions worth $293M, down 13% from $336M the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Castine Capital Management deployed $17.9M of net new capital in Q4 2018, opening 6 new positions and adding to 25 existing holdings. Its largest new stake was Fidelity Southern Corporation: 939,423 shares worth $24.4M.
By sector, the portfolio is most concentrated in Financials at 100% of assets, unchanged from a quarter earlier.
On the sell side, the largest reduction was Ameris Bancorp, an estimated $7.72M trimmed.
- Castine Capital Management's largest Q4 2018 buy was Fidelity Southern Corporation: 939,423 shares worth $24.4M.
- Castine Capital Management added most to Sterling Bancorp in Q4 2018, an estimated $8.24M increase.
- Castine Capital Management's biggest Q4 2018 reduction was Ameris Bancorp, cutting an estimated $7.72M.
- Castine Capital Management fully exited Bank of N.T. Butterfield & Son in Q4 2018, selling an estimated $16.9M.
- Castine Capital Management's ten largest holdings make up 48% of its $293M portfolio in Q4 2018.
- Castine Capital Management opened 6 new positions and closed 12 in Q4 2018.
- Castine Capital Management's portfolio value fell 13% quarter-over-quarter to $293M.
Based on Castine Capital Management's 13F filing for Q4 2018, filed 13 Feb 2019.