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III Capital Management Portfolio holdings

AUM $344M
1-Year Est. Return 11.22%
This Fund
S&P 500
This Quarter Est. Return
-5.13%
1 Year Est. Return
+11.22%
3 Year Est. Return
+12.16%
5 Year Est. Return
+12.02%
10 Year Est. Return
–
AUM
$215M
AUM Growth
+$18.6M
Cap. Flow
-$69.9M
Cap. Flow %
-32.57%
Top 10 Hldgs %
59.07%
Holding
79
New
23
Increased
3
Reduced
5
Closed
21

Top Buys

Rank Stock Value
1
SOLN
The Southern Company
SOLN
+$10.5M
2
GFLU
GFL Environmental Inc. Tangible Equity Units
GFLU
+$6.73M
3
NEE.PRP
NextEra Energy, Inc. 5.279% Corporate Units
NEE.PRP
+$6.29M
4
NEE.PRO
NextEra Energy, Inc. 4.872% Corporate Units
NEE.PRO
+$3.86M
5
LBRDK icon
Liberty Broadband Class C
LBRDK
+$3.26M

Top Sells

Rank Stock Value
1
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$6.43M
2
DCUE
Dominion Energy, Inc. 2019 Series A Corporate Units
DCUE
+$5.33M
3
DTP
DTE Energy Company 2019 Corporate Units
DTP
+$5.13M
4
CFXA
Colfax Corporation 5.75% Tangible Equity Units
CFXA
+$4.16M
5
EXAS
Exact Sciences
EXAS
+$2.99M

Sector Composition

Rank Sector Weight
1 Utilities 4.32%
2 Communication Services 2.8%
3 Real Estate 1.94%
4 Industrials 1.19%
5 Materials 0.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NEE.PRO
1
DELISTED
NextEra Energy, Inc. 4.872% Corporate Units
NEE.PRO
$11.2M 5.2%
225,000
+75,000
+50% +$3.86M
SOLN
2
DELISTED
The Southern Company
SOLN
$9.26M 4.32%
+200,000
New +$10.5M
GFLU
3
DELISTED
GFL Environmental Inc. Tangible Equity Units
GFLU
$6.53M 3.04%
+150,000
New +$6.73M
NEE.PRP
4
DELISTED
NextEra Energy, Inc. 5.279% Corporate Units
NEE.PRP
$6.48M 3.02%
+150,000
New +$6.29M
CFXA
5
DELISTED
Colfax Corporation 5.75% Tangible Equity Units
CFXA
$4.59M 2.14%
50,000
-30,000
-38% -$4.16M
LBRDK icon
6
Liberty Broadband Class C
LBRDK
$4.15B
$2.9M 1.35%
+26,230
New +$3.26M
META icon
7
Meta Platforms (Facebook)
META
$1.51T
$1.8M 0.84%
10,800
-4,000
-27% -$783K
NIO icon
8
PUT
NIO
NIO
$11.3B
$1.64M 0.76%
12,406
-2,000
-14% -$7.45K
PAAS icon
9
Pan American Silver
PAAS
$18.6B
$1.48M 0.69%
103,506
+25,000
+32% +$519K
GLPI icon
10
Gaming and Leisure Properties
GLPI
$12.8B
$1.33M 0.62%
+48,000
New +$1.97M
CNR
11
DELISTED
Cornerstone Building Brands, Inc.
CNR
$1.29M 0.6%
283,304
+73,284
+35% +$545K
CNK icon
12
Cinemark Holdings
CNK
$3.82B
$1.1M 0.51%
+108,431
New +$2.78M
UNIT
13
PUT
Uniti Group
UNIT
$2.63B
$1.08M 0.5%
+9,188
New +$72.1K
LSXMA
14
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$1.08M 0.5%
+47,061
New +$1.49M
MGP
15
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
$970K 0.45%
+41,000
New +$1.16M
OUT icon
16
Outfront Media
OUT
$5.64B
$947K 0.44%
71,401
-22,577
-24% -$552K
WSC icon
17
WillScot Mobile Mini Holdings
WSC
$4.8B
$916K 0.43%
+90,500
New +$1.47M
VICI icon
18
VICI Properties
VICI
$29.4B
$915K 0.43%
+55,000
New +$1.29M
BKNG icon
19
Booking.com
BKNG
$138B
$682K 0.32%
12,675
-10,000
-44% -$702K
UNG icon
20
United States Natural Gas Fund
UNG
$470M
$677K 0.32%
+13,500
New +$784K
TSLA icon
21
PUT
Tesla
TSLA
$1.24T
$440K 0.21%
8,760
– –
NIO icon
22
NIO
NIO
$11.3B
$427K 0.2%
+153,800
New +$573K
CAR icon
23
Avis
CAR
$5.63B
$336K 0.16%
+24,222
New +$725K
LK
24
PUT
DELISTED
Luckin Coffee Inc. American Depositary Shares
LK
$210K 0.1%
+3,000
New +$110K
NCMI icon
25
National CineMedia
NCMI
$354M
$162K 0.08%
+5,000
New +$326K
1
2 3

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III Capital Management's Q1 2020 Portfolio in Review

As of Q1 2020, III Capital Management held 79 positions worth $215M, up 9.5% from $196M the previous quarter. Its ten largest holdings account for 59% of the portfolio.

III Capital Management withdrew a net $69.9M in Q1 2020, closing 21 positions and reducing 5 holdings. Its most notable exit was iShares 20+ Year Treasury Bond ETF, an estimated $6.43M position sold in full.

By sector, the portfolio is most concentrated in Utilities at 4.3% of assets, followed by Communication Services and Real Estate.

Against the trend, III Capital Management opened a new position in The Southern Company worth $9.26M.

  • III Capital Management's largest Q1 2020 buy was The Southern Company: 200,000 shares worth $9.26M.
  • III Capital Management added most to NextEra Energy, Inc. 4.872% Corporate Units in Q1 2020, an estimated $3.86M increase.
  • III Capital Management's biggest Q1 2020 reduction was Colfax Corporation 5.75% Tangible Equity Units, cutting an estimated $4.16M.
  • III Capital Management fully exited iShares 20+ Year Treasury Bond ETF in Q1 2020, selling an estimated $6.43M.
  • III Capital Management's ten largest holdings make up 59% of its $215M portfolio in Q1 2020.
  • III Capital Management opened 23 new positions and closed 21 in Q1 2020.
  • III Capital Management's portfolio value rose 9.5% quarter-over-quarter to $215M.

Based on III Capital Management's 13F filing for Q1 2020, filed 14 May 2020.