Independence Capital Asset Partners Portfolio holdings

Independence Capital Asset Partners's Q1 2015 Portfolio in Review

As of Q1 2015, Independence Capital Asset Partners held 119 positions worth $643M, down 11% from $725M the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Independence Capital Asset Partners withdrew a net $131M in Q1 2015, closing 40 positions and reducing 13 holdings. Its most notable exit was HCA Healthcare, an estimated $27.8M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 29% of assets, up from 21% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Independence Capital Asset Partners opened a new position in NXP Semiconductors worth $28.6M.

• Independence Capital Asset Partners's largest Q1 2015 buy was NXP Semiconductors: 285,045 shares worth $28.6M.
• Independence Capital Asset Partners added most to Tenet Healthcare in Q1 2015, an estimated $12.4M increase.
• Independence Capital Asset Partners's biggest Q1 2015 reduction was Sotheby's, cutting an estimated $15.6M.
• Independence Capital Asset Partners fully exited HCA Healthcare in Q1 2015, selling an estimated $27.8M.
• Independence Capital Asset Partners's ten largest holdings make up 35% of its $643M portfolio in Q1 2015.
• Independence Capital Asset Partners opened 48 new positions and closed 40 in Q1 2015.
• Independence Capital Asset Partners's portfolio value fell 11% quarter-over-quarter to $643M.

Based on Independence Capital Asset Partners's 13F filing for Q1 2015, filed 14 May 2015.