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HC

Hourglass Capital Portfolio holdings

AUM $508M
1-Year Est. Return 32.5%
This Fund
S&P 500
This Quarter Est. Return
+5.45%
1 Year Est. Return
+32.5%
3 Year Est. Return
+89.61%
5 Year Est. Return
+121.03%
10 Year Est. Return
+312.1%
AUM
$688M
AUM Growth
+$87.9M
Cap. Flow
-$44.8M
Cap. Flow %
-6.51%
Top 10 Hldgs %
41.55%
Holding
124
New
7
Increased
25
Reduced
46
Closed
6

Top Buys

Rank Stock Value
1
OUT icon
Outfront Media
OUT
+$6.4M
2
GILD icon
Gilead Sciences
GILD
+$5.46M
3
NCMI icon
National CineMedia
NCMI
+$3.86M
4
ANR
Alpha Natural Resources Inc
ANR
+$3.57M
5
ESV
Ensco Rowan plc
ESV
+$3.15M

Top Sells

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$11.2M
2
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$9.22M
3
EWW icon
iShares MSCI Mexico ETF
EWW
+$8.73M
4
WIN
Windstream Holdings Inc
WIN
+$7.59M
5
MCHP icon
Microchip Technology
MCHP
+$5.72M

Sector Composition

Rank Sector Weight
1 Energy 17.6%
2 Industrials 17.14%
3 Miscellaneous 16.45%
4 Financials 10.3%
5 Consumer Discretionary 7.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$815B
$105M 15.32%
+538,400
New +$102M
AAL icon
2
American Airlines Group
AAL
$8.69B
$38.7M 5.62%
900,129
-107,705
-11% -$4.2M
ESV
3
DELISTED
Ensco Rowan plc
ESV
$28.8M 4.18%
129,493
+15,231
+13% +$3.15M
C icon
4
Citigroup
C
$231B
$19.6M 2.84%
415,353
-6,720
-2% -$320K
DHI icon
5
D.R. Horton
DHI
$39.9B
$18.8M 2.74%
766,796
+48,895
+7% +$1.12M
MS icon
6
Morgan Stanley
MS
$342B
$17.2M 2.5%
532,249
-3,900
-0.7% -$120K
DAL icon
7
Delta Air Lines
DAL
$52.7B
$15.9M 2.31%
410,172
– –
CIE
8
DELISTED
Cobalt International Energy, Inc
CIE
$14.4M 2.1%
52,481
+9,421
+22% +$2.57M
INTC icon
9
Intel
INTC
$506B
$13.6M 1.98%
441,345
-152,700
-26% -$4.18M
UAL icon
10
United Airlines
UAL
$36.2B
$13.4M 1.95%
327,023
-7,360
-2% -$317K
ANR
11
DELISTED
Alpha Natural Resources Inc
ANR
$12.3M 1.79%
3,325,701
+885,673
+36% +$3.57M
RAIL icon
12
FreightCar America
RAIL
$233M
$10.4M 1.51%
415,870
– –
AAPL icon
13
Apple
AAPL
$4.67T
$10.3M 1.5%
444,500
-20,440
-4% -$435K
SVC
14
Service Properties Trust
SVC
$986M
$10.1M 1.47%
67,196
+282
+0.4% +$41.2K
GM icon
15
General Motors
GM
$77B
$10.1M 1.47%
277,770
+71,155
+34% +$2.48M
HAL icon
16
Halliburton
HAL
$30.9B
$10.1M 1.46%
141,667
-68,155
-32% -$4.37M
ELOS
17
DELISTED
Syneron Medical Ltd
ELOS
$9.85M 1.43%
954,048
+272,620
+40% +$2.95M
OXY icon
18
Occidental Petroleum
OXY
$60B
$8.48M 1.23%
86,219
-56,911
-40% -$5.35M
VZ icon
19
Verizon
VZ
$208B
$8.37M 1.22%
171,029
-8,748
-5% -$424K
SCCO icon
20
Southern Copper
SCCO
$168B
$8.19M 1.19%
294,323
-74,402
-20% -$2.02M
PCL
21
DELISTED
PLUM CREEK TIMBER CO (REIT)
PCL
$8.17M 1.19%
181,115
+1,450
+0.8% +$63.1K
KIM icon
22
Kimco Realty
KIM
$15.8B
$8.13M 1.18%
353,685
-2,300
-0.6% -$52.2K
GE icon
23
GE Aerospace
GE
$350B
$8.04M 1.17%
63,811
-3,286
-5% -$418K
WY icon
24
Weyerhaeuser
WY
$16.6B
$7.94M 1.15%
239,980
-14,620
-6% -$442K
SIX
25
DELISTED
Six Flags Entertainment Corp.
SIX
$7.87M 1.14%
184,935
+1,300
+0.7% +$52.9K
1
2 3 4 5

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MCM
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BFA
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IIC
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REMPR
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Hourglass Capital's Q2 2014 Portfolio in Review

As of Q2 2014, Hourglass Capital held 124 positions worth $688M, up 15% from $600M the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Hourglass Capital withdrew a net $44.8M in Q2 2014, closing 6 positions and reducing 46 holdings. Its most notable exit was iShares MSCI Emerging Markets ETF, an estimated $11.2M position sold in full.

By sector, the portfolio is most concentrated in Energy at 18% of assets, down from 19% a quarter earlier, followed by Industrials and Miscellaneous.

Against the trend, Hourglass Capital opened a new position in Outfront Media worth $6.64M.

  • Hourglass Capital's largest Q2 2014 buy was Outfront Media: 271,597 shares worth $6.64M.
  • Hourglass Capital added most to Alpha Natural Resources Inc in Q2 2014, an estimated $3.57M increase.
  • Hourglass Capital's biggest Q2 2014 reduction was Windstream Holdings Inc, cutting an estimated $7.59M.
  • Hourglass Capital fully exited iShares MSCI Emerging Markets ETF in Q2 2014, selling an estimated $11.2M.
  • Hourglass Capital's ten largest holdings make up 42% of its $688M portfolio in Q2 2014.
  • Hourglass Capital opened 7 new positions and closed 6 in Q2 2014.
  • Hourglass Capital's portfolio value rose 15% quarter-over-quarter to $688M.

Based on Hourglass Capital's 13F filing for Q2 2014, filed 12 Aug 2014.