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ECM
Empirical Capital Management Portfolio holdings
AUM
$366M
1-Year Est. Return
40.78%
This Fund
S&P 500
This Quarter
Est. Return
-19.6%
1 Year Est. Return
+40.78%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$95.5M
AUM Growth
-$13.8M
(-13%)
Cap. Flow
+$10.3M
Cap. Flow
% of AUM
10.76%
Top 10 Holdings %
Top 10 Hldgs %
71.38%
Holding
37
New
8
Increased
15
Reduced
3
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWTR
Twitter, Inc.
TWTR
|
+$2.94M |
| 2 |
Freeport-McMoran
FCX
|
+$2.76M |
| 3 |
CHUY
Chuy's Holdings, Inc. Common Stock
CHUY
|
+$2.04M |
| 4 |
TUES
Tuesday Morning Corp
TUES
|
+$1.93M |
| 5 |
TA
TravelCenters of America LLC
TA
|
+$1.82M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wendy's
WEN
|
+$4.84M |
| 2 |
Trinity Industries
TRN
|
+$2.45M |
| 3 |
SMRT
Stein Mart Inc
SMRT
|
+$2.14M |
| 4 |
Element Solutions
ESI
|
+$2.06M |
| 5 |
Biglari Holdings Class B
BH
|
+$969K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 21.5% |
| 2 | Industrials | 15.74% |
| 3 | Communication Services | 7.96% |
| 4 | Materials | 7.62% |
| 5 | Technology | 5.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
LDRH
1
DELISTED
LDR HOLDINGS CORP COM STK
LDRH
| $13.8M | 14.48% |
400,507
+12,959
| +3% | +$529K |
|
|
RENT
2
DELISTED
RENTRAK CORP
RENT
| $9.67M | 10.12% |
178,767
+22,100
| +14% | +$1.24M |
|
|
FRED
3
DELISTED
Fred's Inc
FRED
| $7.95M | 8.33% |
671,005
+19,549
| +3% | +$301K |
|
|
TWTR
4
DELISTED
Twitter, Inc.
TWTR
| $7.6M | 7.96% |
282,000
+98,000
| +53% | +$2.94M |
|
5
Marten Transport
MRTN
$1.22B
| $6.69M | 7.01% |
1,034,330
+136,000
| +15% | +$1.04M |
|
6
Ecolab
ECL
$79.8B
| $5.05M | 5.28% |
45,993
| – | – |
|
7
JB Hunt Transport Services
JBHT
$25.9B
| $5.03M | 5.27% |
70,451
+2,000
| +3% | +$158K |
|
|
CHUY
8
DELISTED
Chuy's Holdings, Inc. Common Stock
CHUY
| $4.83M | 5.06% |
170,001
+68,764
| +68% | +$2.04M |
|
9
Stratasys
SSYS
$666M
| $4.21M | 4.41% |
159,008
+34,900
| +28% | +$1.08M |
|
10
Landstar System
LSTR
$6.04B
| $3.31M | 3.46% |
52,070
+9,000
| +21% | +$613K |
|
11
Hooker Furnishings Corp
HOFT
$147M
| $3.01M | 3.15% |
127,868
| – | – |
|
|
12
Biglari Holdings Class B
BH
$1.2B
| $2.64M | 2.76% |
10,823
-3,603
| -25% | -$969K |
|
13
Hancock Whitney
HWC
$6.19B
| $2.46M | 2.58% |
90,961
+41,105
| +82% | +$1.17M |
|
14
RAVE Restaurant Group
RAVE
$42.8M
| $2.24M | 2.35% |
263,955
+63,554
| +32% | +$719K |
|
|
15
Freeport-McMoran
FCX
$86.2B
| $2.23M | 2.33% |
+230,000
| New | +$2.76M |
|
|
TA
16
DELISTED
TravelCenters of America LLC
TA
| $2.12M | 2.22% |
40,958
+26,958
| +193% | +$1.82M |
|
|
TUES
17
DELISTED
Tuesday Morning Corp
TUES
| $2.08M | 2.18% |
385,214
+219,268
| +132% | +$1.93M |
|
|
SPNE
18
DELISTED
SeaSpine Holdings Corporation Common Stock
SPNE
| $1.3M | 1.36% |
+80,357
| New | +$1.31M |
|
19
Costco
COST
$432B
| $1.3M | 1.36% |
+9,000
| New | +$1.28M |
|
|
KATE
20
DELISTED
Kate Spade & Company
KATE
| $1.16M | 1.21% |
+60,500
| New | +$1.21M |
|
|
BKI
21
DELISTED
Black Knight, Inc. Common Stock
BKI
| $1.01M | 1.06% |
+31,063
| New | +$1.01M |
|
|
22
Wendy's
WEN
$1.46B
| $1M | 1.05% |
115,574
-499,508
| -81% | -$4.84M |
|
|
SMRT
23
DELISTED
Stein Mart Inc
SMRT
| $997K | 1.04% |
103,000
-207,611
| -67% | -$2.14M |
|
|
DXYN
24
DELISTED
Dixie Group Inc
DXYN
| $905K | 0.95% |
108,199
+44,112
| +69% | +$453K |
|
25
Under Armour
UAA
$3.01B
| $823K | 0.86% |
+17,129
| New | +$808K |
|
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Empirical Capital Management's Q3 2015 Portfolio in Review
As of Q3 2015, Empirical Capital Management held 37 positions worth $95.5M, down 13% from $109M the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Empirical Capital Management deployed $10.3M of net new capital in Q3 2015, opening 8 new positions and adding to 15 existing holdings. Its largest new stake was Freeport-McMoran: 230,000 shares worth $2.23M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, down from 23% a quarter earlier, followed by Industrials and Communication Services.
On the sell side, the largest reduction was Wendy's, an estimated $4.84M trimmed.
- Empirical Capital Management's largest Q3 2015 buy was Freeport-McMoran: 230,000 shares worth $2.23M.
- Empirical Capital Management added most to Twitter, Inc. in Q3 2015, an estimated $2.94M increase.
- Empirical Capital Management's biggest Q3 2015 reduction was Wendy's, cutting an estimated $4.84M.
- Empirical Capital Management fully exited Trinity Industries in Q3 2015, selling an estimated $2.45M.
- Empirical Capital Management's ten largest holdings make up 71% of its $95.5M portfolio in Q3 2015.
- Empirical Capital Management opened 8 new positions and closed 8 in Q3 2015.
- Empirical Capital Management's portfolio value fell 13% quarter-over-quarter to $95.5M.
Based on Empirical Capital Management's 13F filing for Q3 2015, filed 10 Nov 2015.