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KCM

Kingstown Capital Management Portfolio holdings

AUM $30.4M
1-Year Est. Return 3.71%
This Fund
S&P 500
This Quarter Est. Return
-4.48%
1 Year Est. Return
-3.71%
3 Year Est. Return
+38.62%
5 Year Est. Return
+13.87%
10 Year Est. Return
–
AUM
$800M
AUM Growth
-$6.55M
Cap. Flow
+$23.9M
Cap. Flow %
2.99%
Top 10 Hldgs %
65.56%
Holding
28
New
6
Increased
6
Reduced
6
Closed
7

Top Buys

Rank Stock Value
1
ONIT
Onity Group
ONIT
+$43.3M
2
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$43M
3
NGHC
National General Holdings Corp
NGHC
+$42.3M
4
NOV icon
NOV
NOV
+$38M
5
VZ icon
Verizon
VZ
+$28.4M

Top Sells

Rank Stock Value
1
PHH
PHH Corporation
PHH
+$36.5M
2
VOD icon
Vodafone
VOD
+$35M
3
MRVL icon
Marvell Technology
MRVL
+$32.4M
4
LPS
LENDER PROCESSING SERVICES INC
LPS
+$29.9M
5
ETFC
E*Trade Financial Corporation
ETFC
+$29.5M

Sector Composition

Rank Sector Weight
1 Communication Services 24.46%
2 Industrials 21.25%
3 Real Estate 14.9%
4 Consumer Discretionary 10.73%
5 Financials 10.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NWSA icon
1
News Corp Class A
NWSA
$16B
$81.8M 10.23%
4,750,000
+250,000
+6% +$4.32M
BWXT icon
2
BWX Technologies
BWXT
$15.3B
$58.1M 7.27%
2,446,500
-69,900
-3% -$1.69M
SPR
3
DELISTED
Spirit AeroSystems
SPR
$56.4M 7.05%
2,000,000
+250,000
+14% +$7.62M
GM icon
4
General Motors
GM
$76.3B
$55.1M 6.89%
1,600,000
+94,713
+6% +$3.48M
FCE.A
5
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$46.8M 5.85%
2,450,000
+2,275,000
+1,300% +$43M
AMH icon
6
American Homes 4 Rent
AMH
$12.4B
$46.8M 5.85%
2,800,000
+1,150,000
+70% +$19.2M
VOD icon
7
Vodafone
VOD
$37B
$46M 5.76%
1,250,000
-908,200
-42% -$35M
AJRD
8
DELISTED
Aerojet Rocketdyne Holdings
AJRD
$45.7M 5.71%
2,500,000
– –
VER
9
DELISTED
VEREIT, Inc.
VER
$45.6M 5.7%
650,000
-50,000
-7% -$3.48M
NGHC
10
DELISTED
National General Holdings Corp
NGHC
$42M 5.25%
+3,000,000
New +$42.3M
FWONA icon
11
Liberty Media Series A
FWONA
$22.9B
$39.2M 4.91%
1,688,691
+281,449
+20% +$6.73M
ONIT
12
Onity Group
ONIT
$311M
$39.2M 4.9%
+66,667
New +$43.3M
NOV icon
13
NOV
NOV
$7.09B
$38.9M 4.87%
+554,500
New +$38M
SXC icon
14
SunCoke Energy
SXC
$815M
$32M 4%
1,400,000
-600,000
-30% -$13.2M
VZ icon
15
Verizon
VZ
$195B
$28.5M 3.57%
+600,000
New +$28.4M
RHP icon
16
Ryman Hospitality Properties
RHP
$7.84B
$25.5M 3.19%
600,000
-250,000
-29% -$10.6M
BKS
17
DELISTED
Barnes & Noble
BKS
$18.8M 2.35%
1,373,400
– –
QLTI
18
DELISTED
QLT Inc
QLTI
$18.1M 2.26%
3,250,000
– –
TWGP
19
DELISTED
TOWER GROUP INTL LTD COM STK (BERMUDA)
TWGP
$13.4M 1.67%
+4,950,000
New +$13.4M
SHLD
20
DELISTED
Sears Holding Corporation
SHLD
$11.9M 1.49%
+331,231
New +$10.4M
MDR
21
DELISTED
McDermott International
MDR
$9.78M 1.22%
416,667
-1,166,666
-74% -$29.3M
GD icon
22
General Dynamics
GD
$105B
– –
-150,000
Closed -$14.3M
MRVL icon
23
Marvell Technology
MRVL
$189B
– –
-2,250,000
Closed -$32.4M
ETFC
24
DELISTED
E*Trade Financial Corporation
ETFC
– –
-1,500,000
Closed -$29.5M
GM.WS.B
25
DELISTED
General Motors Company
GM.WS.B
– –
-4,806
Closed -$111K
1
2

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Kingstown Capital Management's Q1 2014 Portfolio in Review

As of Q1 2014, Kingstown Capital Management held 28 positions worth $800M, down 0.81% from $806M the previous quarter. Its ten largest holdings account for 66% of the portfolio.

Kingstown Capital Management's Q1 2014 filing shows 6 new, 6 increased, 6 reduced and 7 closed positions. Its largest new stake was Onity Group: 66,667 shares worth $39.2M. The largest sale was PHH Corporation, an estimated $36.5M.

By sector, the portfolio is most concentrated in Communication Services at 24% of assets, down from 25% a quarter earlier, followed by Industrials and Real Estate.

  • Kingstown Capital Management's largest Q1 2014 buy was Onity Group: 66,667 shares worth $39.2M.
  • Kingstown Capital Management added most to Forest City Realty Trust, Inc. in Q1 2014, an estimated $43M increase.
  • Kingstown Capital Management's biggest Q1 2014 reduction was Vodafone, cutting an estimated $35M.
  • Kingstown Capital Management fully exited PHH Corporation in Q1 2014, selling an estimated $36.5M.
  • Kingstown Capital Management's ten largest holdings make up 66% of its $800M portfolio in Q1 2014.
  • Kingstown Capital Management opened 6 new positions and closed 7 in Q1 2014.
  • Kingstown Capital Management's portfolio value fell 0.81% quarter-over-quarter to $800M.

Based on Kingstown Capital Management's 13F filing for Q1 2014, filed 15 May 2014.