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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
-2.06%
1 Year Est. Return
-3.71%
3 Year Est. Return
+38.62%
5 Year Est. Return
+13.87%
10 Year Est. Return
–
AUM
$801M
AUM Growth
+$128M
(+19%)
Cap. Flow
+$105M
Cap. Flow
% of AUM
13.14%
Top 10 Holdings %
Top 10 Hldgs %
74.65%
Holding
19
New
4
Increased
2
Reduced
2
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
MDR
McDermott International
MDR
|
+$55.8M |
| 2 |
PRSP
Perspecta Inc. Common Stock
PRSP
|
+$44.8M |
| 3 |
Equitable Holdings
EQH
|
+$26.6M |
| 4 |
DigitalBridge
DBRG
|
+$17.9M |
| 5 |
eBay
EBAY
|
+$9.73M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Adient
ADNT
|
+$26.9M |
| 2 |
GE Aerospace
GE
|
+$16.9M |
| 3 |
DXC Technology
DXC
|
+$8.05M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.11% |
| 2 | Consumer Discretionary | 20.39% |
| 3 | Financials | 17.62% |
| 4 | Real Estate | 8.58% |
| 5 | Utilities | 7.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AABA
1
DELISTED
Altaba Inc
AABA
| $110M | 13.7% |
1,500,000
| – | – |
|
2
PG&E
PCG
$37.4B
| $63.8M | 7.97% |
1,500,000
| – | – |
|
3
General Motors
GM
$76.3B
| $59.1M | 7.37% |
1,500,000
| – | – |
|
|
4
Adient
ADNT
$1.45B
| $59M | 7.37% |
1,200,000
-475,000
| -28% | -$26.9M |
|
|
MDR
5
DELISTED
McDermott International
MDR
| $54M | 6.74% |
+2,750,000
| New | +$55.8M |
|
|
BNY
6
Bank of New York Mellon
BNY
$108B
| $53.9M | 6.73% |
1,000,000
| – | – |
|
7
Rithm Capital
RITM
$5.55B
| $52.5M | 6.55% |
3,000,000
| – | – |
|
|
8
DXC Technology
DXC
$1.77B
| $48.4M | 6.03% |
600,000
-93,600
| -13% | -$8.05M |
|
|
9
eBay
EBAY
$48.9B
| $45.3M | 5.66% |
1,250,000
+250,000
| +25% | +$9.73M |
|
|
FG
10
DELISTED
FGL Holdings Ordinary Shares
FG
| $42.8M | 5.34% |
5,100,000
+250,000
| +5% | +$2.28M |
|
|
PRSP
11
DELISTED
Perspecta Inc. Common Stock
PRSP
| $41.1M | 5.13% |
+2,000,000
| New | +$44.8M |
|
|
LSXMK
12
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $34M | 4.24% |
984,710
| – | – |
|
|
13
Equitable Holdings
EQH
$14.2B
| $25.8M | 3.21% |
+1,250,000
| New | +$26.6M |
|
|
LSXMA
14
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $22.5M | 2.81% |
692,069
| – | – |
|
|
15
DigitalBridge
DBRG
$2.95B
| $18.7M | 2.34% |
+750,000
| New | +$17.9M |
|
16
Five Point Holdings
FPH
$370M
| $16.3M | 2.04% |
1,450,000
| – | – |
|
17
Rimini Street
RMNI
$462M
| $1.97M | 0.25% |
300,000
| – | – |
|
|
18
GE Aerospace
GE
$389B
| – | – |
-260,828
| Closed | -$16.9M |
|
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Kingstown Capital Management's Q2 2018 Portfolio in Review
As of Q2 2018, Kingstown Capital Management held 19 positions worth $801M, up 19% from $674M the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Kingstown Capital Management deployed $105M of net new capital in Q2 2018, opening 4 new positions and adding to 2 existing holdings. Its largest new stake was McDermott International: 2,750,000 shares worth $54M.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 26% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was Adient, an estimated $26.9M trimmed.
- Kingstown Capital Management's largest Q2 2018 buy was McDermott International: 2,750,000 shares worth $54M.
- Kingstown Capital Management added most to eBay in Q2 2018, an estimated $9.73M increase.
- Kingstown Capital Management's biggest Q2 2018 reduction was Adient, cutting an estimated $26.9M.
- Kingstown Capital Management fully exited GE Aerospace in Q2 2018, selling an estimated $16.9M.
- Kingstown Capital Management's ten largest holdings make up 75% of its $801M portfolio in Q2 2018.
- Kingstown Capital Management opened 4 new positions and closed 1 in Q2 2018.
- Kingstown Capital Management's portfolio value rose 19% quarter-over-quarter to $801M.
Based on Kingstown Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.