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HC

Hourglass Capital Portfolio holdings

AUM $480M
1-Year Est. Return 32.35%
This Fund
S&P 500
This Quarter Est. Return
+2.68%
1 Year Est. Return
+32.35%
3 Year Est. Return
+81.07%
5 Year Est. Return
+116.38%
10 Year Est. Return
+280.27%
AUM
$600M
AUM Growth
-$25.3M
Cap. Flow
-$34.9M
Cap. Flow %
-5.82%
Top 10 Hldgs %
30.54%
Holding
133
New
17
Increased
27
Reduced
47
Closed
16

Top Buys

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$10.7M
2
CIE
Cobalt International Energy, Inc
CIE
+$9.44M
3
EWW icon
iShares MSCI Mexico ETF
EWW
+$8.55M
4
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$8.41M
5
ELV icon
Elevance Health
ELV
+$7.32M

Top Sells

Rank Stock Value
1
NUAN
Nuance Communications, Inc.
NUAN
+$12.8M
2
M icon
Macy's
M
+$7.82M
3
MS icon
Morgan Stanley
MS
+$7.15M
4
INTC icon
Intel
INTC
+$7M
5
RAIL icon
FreightCar America
RAIL
+$6.92M

Sector Composition

Rank Sector Weight
1 Industrials 19.01%
2 Energy 17.72%
3 Financials 12.03%
4 Technology 9.2%
5 Real Estate 8.46%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KIM icon
26
Kimco Realty
KIM
$17.7B
$7.79M 1.3%
355,985
-1,200
-0.3% -$25.6K
ORCL icon
27
Oracle
ORCL
$346B
$7.56M 1.26%
184,705
-136,380
-42% -$5.19M
PCL
28
DELISTED
PLUM CREEK TIMBER CO (REIT)
PCL
$7.55M 1.26%
179,665
+600
+0.3% +$25.8K
WY icon
29
Weyerhaeuser
WY
$17.7B
$7.47M 1.25%
254,600
+41,490
+19% +$1.25M
LMT icon
30
Lockheed Martin
LMT
$134B
$7.41M 1.23%
45,365
-3,500
-7% -$550K
CSCO icon
31
Cisco
CSCO
$456B
$7.4M 1.23%
330,220
+105,240
+47% +$2.33M
SIX
32
DELISTED
Six Flags Entertainment Corp.
SIX
$7.37M 1.23%
183,635
-700
-0.4% -$27.1K
BRK.B icon
33
Berkshire Hathaway Class B
BRK.B
$1.11T
$7.14M 1.19%
57,117
-360
-0.6% -$42.1K
GM icon
34
General Motors
GM
$81.7B
$7.11M 1.19%
206,615
+64,912
+46% +$2.38M
M icon
35
Macy's
M
$6.62B
$6.84M 1.14%
115,359
-140,660
-55% -$7.82M
MRK icon
36
Merck
MRK
$326B
$6.83M 1.14%
126,153
-4,716
-4% -$244K
DINO icon
37
HF Sinclair
DINO
$16.1B
$6.58M 1.1%
138,270
-2,000
-1% -$94.6K
ZBH icon
38
Zimmer Biomet
ZBH
$18.5B
$6.57M 1.1%
71,587
-1,338
-2% -$123K
GS icon
39
Goldman Sachs
GS
$305B
$6.53M 1.09%
39,872
-310
-0.8% -$52.1K
LEG icon
40
Leggett & Platt
LEG
$1.47B
$6.44M 1.07%
197,425
-2,320
-1% -$71.8K
RDS.B
41
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$6.37M 1.06%
81,534
-725
-0.9% -$55K
CPRI icon
42
Capri Holdings
CPRI
$1.88B
$6.32M 1.05%
67,778
-1,722
-2% -$156K
FLG
43
Flagstar Bank National Association
FLG
$5.83B
$6.2M 1.03%
128,555
-65,467
-34% -$3.18M
PM icon
44
Philip Morris
PM
$312B
$6.1M 1.02%
74,528
+1,350
+2% +$109K
RYN icon
45
Rayonier
RYN
$6.64B
$6.01M 1%
+193,164
New +$5.81M
VTG
46
DELISTED
VANTAGE DRILLING COMPANY ORD SHS (KY)
VTG
$5.84M 0.97%
+3,413,448
New +$5.95M
FHI icon
47
Federated Hermes
FHI
$4.59B
$5.81M 0.97%
190,190
-2,500
-1% -$70.1K
MCHP icon
48
Microchip Technology
MCHP
$41.1B
$5.72M 0.95%
239,600
-11,120
-4% -$254K
EPE
49
DELISTED
EP Energy Corporation
EPE
$5.34M 0.89%
+273,100
New +$5.07M
NETI
50
DELISTED
Eneti Inc.
NETI
$4.83M 0.81%
+4,285
New +$4.67M
1
2
3 4 5

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NQWM
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MAM
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Hourglass Capital's Q1 2014 Portfolio in Review

As of Q1 2014, Hourglass Capital held 133 positions worth $600M, down 4% from $625M the previous quarter. Its ten largest holdings account for 31% of the portfolio.

Hourglass Capital withdrew a net $34.9M in Q1 2014, closing 16 positions and reducing 47 holdings. Its most notable exit was Nuance Communications, Inc., an estimated $12.8M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 19% of assets, up from 15% a quarter earlier, followed by Energy and Financials.

Against the trend, Hourglass Capital opened a new position in iShares MSCI Emerging Markets ETF worth $11.2M.

  • Hourglass Capital's largest Q1 2014 buy was iShares MSCI Emerging Markets ETF: 273,345 shares worth $11.2M.
  • Hourglass Capital added most to Cobalt International Energy, Inc in Q1 2014, an estimated $9.44M increase.
  • Hourglass Capital's biggest Q1 2014 reduction was Macy's, cutting an estimated $7.82M.
  • Hourglass Capital fully exited Nuance Communications, Inc. in Q1 2014, selling an estimated $12.8M.
  • Hourglass Capital's ten largest holdings make up 31% of its $600M portfolio in Q1 2014.
  • Hourglass Capital opened 17 new positions and closed 16 in Q1 2014.
  • Hourglass Capital's portfolio value fell 4% quarter-over-quarter to $600M.

Based on Hourglass Capital's 13F filing for Q1 2014, filed 6 May 2014.