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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
-3.88%
1 Year Est. Return
-3.71%
3 Year Est. Return
+38.62%
5 Year Est. Return
+13.87%
10 Year Est. Return
–
AUM
$768M
AUM Growth
+$79.2M
(+11%)
Cap. Flow
+$61.7M
Cap. Flow
% of AUM
8.03%
Top 10 Holdings %
Top 10 Hldgs %
81.43%
Holding
19
New
2
Increased
2
Reduced
4
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ONIT
Onity Group
ONIT
|
+$107M |
| 2 |
HLSS
HOME LN SERVICING SOLUTIONS LTD(CAYMAN ISLANDS)
HLSS
|
+$59.3M |
| 3 |
TRCO
TRIBUNE MEDIA COMPANY CLASS A
TRCO
|
+$9.22M |
| 4 |
SunCoke Energy
SXC
|
+$1.37M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPR
Spirit AeroSystems
SPR
|
+$64.6M |
| 2 |
AJRD
Aerojet Rocketdyne Holdings
AJRD
|
+$10.6M |
| 3 |
NGHC
National General Holdings Corp
NGHC
|
+$9.15M |
| 4 |
General Motors
GM
|
+$9.09M |
| 5 |
BWX Technologies
BWXT
|
+$8.82M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 28.67% |
| 2 | Communication Services | 23.57% |
| 3 | Industrials | 13.62% |
| 4 | Consumer Discretionary | 7.32% |
| 5 | Materials | 4.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ONIT
1
Onity Group
ONIT
$342M
| $99M | 12.88% |
+800,000
| New | +$107M |
|
2
News Corp Class A
NWSA
$15.6B
| $80M | 10.42% |
5,000,000
| – | – |
|
|
AJRD
3
DELISTED
Aerojet Rocketdyne Holdings
AJRD
| $74.2M | 9.66% |
3,200,000
-550,000
| -15% | -$10.6M |
|
|
TRCO
4
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
| $60.8M | 7.91% |
1,000,000
+150,000
| +18% | +$9.22M |
|
|
HLSS
5
DELISTED
HOME LN SERVICING SOLUTIONS LTD(CAYMAN ISLANDS)
HLSS
| $59.5M | 7.75% |
+3,600,000
| New | +$59.3M |
|
|
6
General Motors
GM
$80.9B
| $56.3M | 7.32% |
1,500,000
-250,000
| -14% | -$9.09M |
|
|
NGHC
7
DELISTED
National General Holdings Corp
NGHC
| $51.4M | 6.69% |
2,750,000
-500,000
| -15% | -$9.15M |
|
8
Navient
NAVI
$819M
| $45.7M | 5.95% |
2,250,000
| – | – |
|
|
VER
9
DELISTED
VEREIT, Inc.
VER
| $39.4M | 5.13% |
800,000
| – | – |
|
|
10
SunCoke Energy
SXC
$794M
| $35.1M | 4.57% |
2,350,000
+80,000
| +4% | +$1.37M |
|
|
11
BWX Technologies
BWXT
$14.4B
| $30.5M | 3.97% |
1,328,100
-419,400
| -24% | -$8.82M |
|
12
Liberty Media Series C
FWONK
$25.5B
| $26.7M | 3.48% |
988,944
| – | – |
|
13
Citizens Financial Group
CFG
$30.1B
| $24.1M | 3.14% |
1,000,000
| – | – |
|
14
Liberty Media Series A
FWONA
$23.4B
| $13.5M | 1.76% |
520,558
| – | – |
|
|
QLTI
15
DELISTED
QLT Inc
QLTI
| $12.7M | 1.65% |
3,250,000
| – | – |
|
16
Liberty Broadband Class A
LBRDA
$4.89B
| – | – |
-87,499
| Closed | -$4.38M |
|
17
Liberty Broadband Class C
LBRDK
$4.89B
| – | – |
-174,999
| Closed | -$8.72M |
|
|
SPR
18
DELISTED
Spirit AeroSystems
SPR
| – | – |
-1,500,000
| Closed | -$64.6M |
|
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Kingstown Capital Management's Q1 2015 Portfolio in Review
As of Q1 2015, Kingstown Capital Management held 19 positions worth $768M, up 11% from $689M the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Kingstown Capital Management deployed $61.7M of net new capital in Q1 2015, opening 2 new positions and adding to 2 existing holdings. Its largest new stake was Onity Group: 800,000 shares worth $99M.
By sector, the portfolio is most concentrated in Financials at 29% of assets, up from 19% a quarter earlier, followed by Communication Services and Industrials.
On the sell side, the largest reduction was Aerojet Rocketdyne Holdings, an estimated $10.6M trimmed.
- Kingstown Capital Management's largest Q1 2015 buy was Onity Group: 800,000 shares worth $99M.
- Kingstown Capital Management added most to TRIBUNE MEDIA COMPANY CLASS A in Q1 2015, an estimated $9.22M increase.
- Kingstown Capital Management's biggest Q1 2015 reduction was Aerojet Rocketdyne Holdings, cutting an estimated $10.6M.
- Kingstown Capital Management fully exited Spirit AeroSystems in Q1 2015, selling an estimated $64.6M.
- Kingstown Capital Management's ten largest holdings make up 81% of its $768M portfolio in Q1 2015.
- Kingstown Capital Management opened 2 new positions and closed 3 in Q1 2015.
- Kingstown Capital Management's portfolio value rose 11% quarter-over-quarter to $768M.
Based on Kingstown Capital Management's 13F filing for Q1 2015, filed 15 May 2015.