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KCM
Kingstown Capital Management Portfolio holdings
AUM
$30.4M
Turnover
30.77%
1-Year Est. Return
3.71%
This Fund
S&P 500
This Quarter
Est. Return
+1.55%
1 Year Est. Return
-3.71%
3 Year Est. Return
+38.62%
5 Year Est. Return
+13.87%
10 Year Est. Return
–
AUM
$882M
AUM Growth
-$44.9M
(-4.8%)
Cap. Flow
-$46.8M
Cap. Flow
% of AUM
-5.3%
Top 10 Holdings %
Top 10 Hldgs %
72.34%
Holding
26
New
5
Increased
5
Reduced
6
Closed
3
Avg Time Held
1.2
years
Top 10 Avg Time Held
0.9
years
Top 20 Avg Time Held
1.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
|
+$28.2M |
| 2 |
PJT Partners
PJT
|
+$21.7M |
| 3 |
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
|
+$15.9M |
| 4 |
CSC
Computer Sciences
CSC
|
+$15.2M |
| 5 |
eBay
EBAY
|
+$12.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NGHC
National General Holdings Corp
NGHC
|
+$48.8M |
| 2 |
Liberty Media Corporation Series C Common Stock
FWONK
|
+$34.3M |
| 3 |
Liberty Media Corporation Series A Common Stock
FWONA
|
+$19.3M |
| 4 |
Babcock & Wilcox
BW
|
+$16.6M |
| 5 |
KLXI
KLX Inc.
KLXI
|
+$16.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.18% |
| 2 | Consumer Discretionary | 16.91% |
| 3 | Technology | 12.48% |
| 4 | Industrials | 11.65% |
| 5 | Real Estate | 7.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Hewlett Packard
HPE
$79B
| $91.3M | 10.36% |
8,602,786
| – | – |
2015 Q4
2 quarters
|
|
2
Bank of New York Mellon
BNY
$96.5B
| $71.9M | 8.15% |
1,850,000
| – | – |
2015 Q3
3 quarters
|
|
3
Rithm Capital
RITM
$4.86B
| $69.2M | 7.85% |
5,000,000
| – | – |
2015 Q3
3 quarters
|
|
|
CIT
4
DELISTED
CIT Group Inc.
CIT
| $68.6M | 7.78% |
2,150,000
+150,000
| +8% | +$4.87M |
2016 Q1
1 quarter
|
|
5
Citizens Financial Group
CFG
$26.8B
| $64.9M | 7.36% |
3,250,000
+250,000
| +8% | +$5.55M |
2014 Q3
7 quarters
|
|
|
AJRD
6
DELISTED
Aerojet Rocketdyne Holdings
AJRD
| $64M | 7.26% |
3,500,000
| – | – |
2013 Q2
12 quarters
|
|
|
7
eBay
EBAY
$54.7B
| $58.5M | 6.64% |
2,500,000
+500,000
| +25% | +$12.1M |
2015 Q3
3 quarters
|
|
8
General Motors
GM
$73.7B
| $56.6M | 6.42% |
2,000,000
+125,000
| +7% | +$3.79M |
2013 Q2
12 quarters
|
|
9
Brookdale Senior Living
BKD
$2.42B
| $54M | 6.13% |
3,500,000
| – | – |
2015 Q3
3 quarters
|
|
|
KLXI
10
DELISTED
KLX Inc.
KLXI
| $38.8M | 4.39% |
1,482,500
-593,000
| -29% | -$16.3M |
2015 Q4
2 quarters
|
|
11
Navient
NAVI
$899M
| $35.9M | 4.07% |
3,000,000
-1,000,000
| -25% | -$12.7M |
2014 Q2
8 quarters
|
|
12
DELISTED
Sears Holding Corporation
SHLD
| $34M | 3.86% |
2,500,000
+675,000
| +37% | +$9.53M |
2015 Q2
4 quarters
|
|
|
13
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $27.8M | 3.15% |
+1,181,652
| New | +$28.2M |
2016 Q2
0 quarters
|
|
|
14
PJT Partners
PJT
$3.47B
| $20.7M | 2.35% |
+900,000
| New | +$21.7M |
2016 Q2
0 quarters
|
|
15
SunCoke Energy
SXC
$867M
| $20.4M | 2.31% |
3,500,000
-2,250,000
| -39% | -$14.2M |
2013 Q2
12 quarters
|
|
16
Onity Group
ONIT
$227M
| $19.4M | 2.2% |
756,667
-76,666
| -9% | -$2.37M |
2015 Q1
5 quarters
|
|
|
CSC
17
DELISTED
Computer Sciences
CSC
| $18.7M | 2.12% |
+375,747
| New | +$15.2M |
2016 Q2
0 quarters
|
|
|
18
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $15.7M | 1.78% |
+692,069
| New | +$15.9M |
2016 Q2
0 quarters
|
|
|
NSM
19
DELISTED
Nationstar Mortgage Holdings
NSM
| $15.2M | 1.72% |
1,350,000
-50,000
| -4% | -$580K |
2015 Q2
4 quarters
|
|
|
NGHC
20
DELISTED
National General Holdings Corp
NGHC
| $4.82M | 0.55% |
225,000
-2,275,000
| -91% | -$48.8M |
2014 Q1
9 quarters
|
|
21
DELISTED
QLT Inc
QLTI
| $4.26M | 0.48% |
3,000,000
| – | – |
2013 Q2
12 quarters
|
|
|
ARLZ
22
DELISTED
Aralez Pharmaceuticals Inc.
ARLZ
| $1.35M | 0.15% |
+408,869
| New | +$1.54M |
2016 Q2
0 quarters
|
|
|
23
Babcock & Wilcox
BW
$727M
| – | – |
-77,500
| Closed | -$16.6M | – |
|
|
24
Liberty Media Corporation Series A Common Stock
FWONA
$20.9B
| – | – |
-743,655
| Closed | -$19.3M | – |
|
|
25
Liberty Media Corporation Series C Common Stock
FWONK
$22.8B
| – | – |
-1,271,500
| Closed | -$34.3M | – |
|
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Kingstown Capital Management's Q2 2016 Portfolio in Review
As of Q2 2016, Kingstown Capital Management held 26 positions worth $882M, down 4.8% from $927M the previous quarter. Its ten largest holdings account for 72% of the portfolio.
Kingstown Capital Management withdrew a net $46.8M in Q2 2016, closing 3 positions and reducing 6 holdings. Its most notable exit was Liberty Media Corporation Series C Common Stock, an estimated $34.3M position sold in full.
By sector, the portfolio is most concentrated in Financials at 34% of assets, down from 37% a quarter earlier, followed by Consumer Discretionary and Technology.
Against the trend, Kingstown Capital Management opened a new position in Liberty Media Corporation Series C Liberty SiriusXM Common Stock worth $27.8M.
- Kingstown Capital Management's largest Q2 2016 buy was Liberty Media Corporation Series C Liberty SiriusXM Common Stock: 1,181,652 shares worth $27.8M.
- Kingstown Capital Management added most to eBay in Q2 2016, an estimated $12.1M increase.
- Kingstown Capital Management's biggest Q2 2016 reduction was National General Holdings Corp, cutting an estimated $48.8M.
- Kingstown Capital Management fully exited Liberty Media Corporation Series C Common Stock in Q2 2016, selling an estimated $34.3M.
- Kingstown Capital Management's ten largest holdings make up 72% of its $882M portfolio in Q2 2016.
- Kingstown Capital Management opened 5 new positions and closed 3 in Q2 2016.
- Kingstown Capital Management's portfolio value fell 4.8% quarter-over-quarter to $882M.
Based on Kingstown Capital Management's 13F filing for Q2 2016, filed 15 Aug 2016.