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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
-8.79%
1 Year Est. Return
-3.71%
3 Year Est. Return
+38.62%
5 Year Est. Return
+13.87%
10 Year Est. Return
–
AUM
$684M
AUM Growth
+$16M
Cap. Flow
+$74.3M
Cap. Flow %
10.86%
Top 10 Hldgs %
87.21%
Holding
18
New
3
Increased
4
Reduced
4
Closed
4

Top Buys

Rank Stock Value
1
ONIT
Onity Group
ONIT
+$90.4M
2
FWONK icon
Liberty Media Series C
FWONK
+$33.5M
3
CFG icon
Citizens Financial Group
CFG
+$23.2M
4
BWXT icon
BWX Technologies
BWXT
+$15.1M
5
AJRD
Aerojet Rocketdyne Holdings
AJRD
+$8.99M

Top Sells

Rank Stock Value
1
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$44.7M
2
AMH icon
American Homes 4 Rent
AMH
+$44.4M
3
FWONA icon
Liberty Media Series A
FWONA
+$31.5M
4
BKS
Barnes & Noble
BKS
+$13.7M
5
TWGP
TOWER GROUP INTL LTD COM STK (BERMUDA)
TWGP
+$10.3M

Sector Composition

Rank Sector Weight
1 Financials 34.49%
2 Industrials 24.61%
3 Communication Services 16.78%
4 Consumer Discretionary 7.47%
5 Materials 6.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ONIT
1
Onity Group
ONIT
$342M
$118M 17.22%
300,000
+200,000
+200% +$90.4M
NWSA icon
2
News Corp Class A
NWSA
$15.6B
$65.4M 9.56%
4,000,000
-250,000
-6% -$4.4M
SPR
3
DELISTED
Spirit AeroSystems
SPR
$57.1M 8.34%
1,500,000
-225,000
-13% -$8.22M
AJRD
4
DELISTED
Aerojet Rocketdyne Holdings
AJRD
$55.9M 8.17%
3,500,000
+500,000
+17% +$8.99M
BWXT icon
5
BWX Technologies
BWXT
$14.4B
$55.4M 8.09%
2,796,000
+699,000
+33% +$15.1M
NGHC
6
DELISTED
National General Holdings Corp
NGHC
$54.9M 8.02%
3,250,000
– –
GM icon
7
General Motors
GM
$80.9B
$51.1M 7.47%
1,600,000
+250,000
+19% +$8.71M
SXC icon
8
SunCoke Energy
SXC
$794M
$44.9M 6.56%
2,000,000
– –
NAVI icon
9
Navient
NAVI
$819M
$39.8M 5.82%
2,250,000
-150,000
-6% -$2.64M
FWONK icon
10
Liberty Media Series C
FWONK
$25.5B
$32.9M 4.81%
+1,308,373
New +$33.5M
CFG icon
11
Citizens Financial Group
CFG
$30.1B
$23.4M 3.42%
+1,000,000
New +$23.2M
FWONA icon
12
Liberty Media Series A
FWONA
$23.4B
$16.5M 2.41%
687,658
-1,282,481
-65% -$31.5M
QLTI
13
DELISTED
QLT Inc
QLTI
$14.7M 2.15%
3,250,000
– –
AMH icon
14
American Homes 4 Rent
AMH
$12.1B
– –
-2,500,000
Closed -$44.4M
BKS
15
DELISTED
Barnes & Noble
BKS
– –
-915,600
Closed -$13.7M
FCE.A
16
DELISTED
Forest City Realty Trust, Inc.
FCE.A
– –
-2,250,000
Closed -$44.7M
TWGP
17
DELISTED
TOWER GROUP INTL LTD COM STK (BERMUDA)
TWGP
– –
-5,725,000
Closed -$10.3M

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PGM
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VCA
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LUGPSI
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Kingstown Capital Management's Q3 2014 Portfolio in Review

As of Q3 2014, Kingstown Capital Management held 18 positions worth $684M, up 2.4% from $668M the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Kingstown Capital Management deployed $74.3M of net new capital in Q3 2014, opening 3 new positions and adding to 4 existing holdings. Its largest new stake was Liberty Media Series C: 1,308,373 shares worth $32.9M.

By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 23% a quarter earlier, followed by Industrials and Communication Services.

On the sell side, the largest reduction was Liberty Media Series A, an estimated $31.5M trimmed.

  • Kingstown Capital Management's largest Q3 2014 buy was Liberty Media Series C: 1,308,373 shares worth $32.9M.
  • Kingstown Capital Management added most to Onity Group in Q3 2014, an estimated $90.4M increase.
  • Kingstown Capital Management's biggest Q3 2014 reduction was Liberty Media Series A, cutting an estimated $31.5M.
  • Kingstown Capital Management fully exited Forest City Realty Trust, Inc. in Q3 2014, selling an estimated $44.7M.
  • Kingstown Capital Management's ten largest holdings make up 87% of its $684M portfolio in Q3 2014.
  • Kingstown Capital Management opened 3 new positions and closed 4 in Q3 2014.
  • Kingstown Capital Management's portfolio value rose 2.4% quarter-over-quarter to $684M.

Based on Kingstown Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.