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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
-22.09%
1 Year Est. Return
-3.71%
3 Year Est. Return
+38.62%
5 Year Est. Return
+13.87%
10 Year Est. Return
–
AUM
$461M
AUM Growth
-$294M
Cap. Flow
-$168M
Cap. Flow %
-36.5%
Top 10 Hldgs %
83.92%
Holding
18
New
1
Increased
5
Reduced
5
Closed
3

Top Buys

Rank Stock Value
1
TME icon
Tencent Music
TME
+$22.3M
2
MDR
McDermott International
MDR
+$18.5M
3
EQH icon
Equitable Holdings
EQH
+$10.2M
4
EBAY icon
eBay
EBAY
+$7.35M
5
DXC icon
DXC Technology
DXC
+$6.91M

Top Sells

Rank Stock Value
1
BNY
Bank of New York Mellon
BNY
+$53.5M
2
PRSP
Perspecta Inc. Common Stock
PRSP
+$32.1M
3
ADNT icon
Adient
ADNT
+$27.5M
4
RITM icon
Rithm Capital
RITM
+$25.3M
5
AABA
Altaba Inc
AABA
+$15.4M

Sector Composition

Rank Sector Weight
1 Technology 21.92%
2 Consumer Discretionary 19.74%
3 Financials 16.06%
4 Industrials 7.45%
5 Real Estate 6.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AABA
1
DELISTED
Altaba Inc
AABA
$57.9M 12.58%
1,000,000
-250,000
-20% -$15.4M
EBAY icon
2
eBay
EBAY
$51.2B
$49.1M 10.66%
1,750,000
+250,000
+17% +$7.35M
FG
3
DELISTED
FGL Holdings Ordinary Shares
FG
$44.5M 9.65%
6,675,000
+675,000
+11% +$5.24M
GM icon
4
General Motors
GM
$80.9B
$41.8M 9.08%
1,250,000
-350,000
-22% -$12.1M
DXC icon
5
DXC Technology
DXC
$1.91B
$37.2M 8.08%
700,000
+100,000
+17% +$6.91M
MDR
6
DELISTED
McDermott International
MDR
$34.3M 7.45%
5,250,000
+1,750,000
+50% +$18.5M
PCG icon
7
PG&E
PCG
$39B
$29.7M 6.45%
1,250,000
-250,000
-17% -$8.95M
EQH icon
8
Equitable Holdings
EQH
$13.2B
$29.5M 6.41%
1,775,000
+525,000
+42% +$10.2M
TME icon
9
Tencent Music
TME
$15.9B
$23.1M 5.02%
+1,750,000
New +$22.3M
RITM icon
10
Rithm Capital
RITM
$5.58B
$21.3M 4.63%
1,500,000
-1,500,000
-50% -$25.3M
LSXMK
11
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$18.5M 4.01%
656,474
-328,236
-33% -$9.99M
LSXMA
12
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$18.4M 3.99%
692,069
– –
FPH icon
13
Five Point Holdings
FPH
$387M
$10.1M 2.18%
1,450,000
– –
RMNI icon
14
Rimini Street
RMNI
$457M
$5.79M 1.26%
1,125,000
– –
ADNT icon
15
Adient
ADNT
$1.69B
– –
-700,000
Closed -$27.5M
BNY
16
Bank of New York Mellon
BNY
$103B
– –
-1,050,000
Closed -$53.5M
PRSP
17
DELISTED
Perspecta Inc. Common Stock
PRSP
– –
-1,250,000
Closed -$32.1M

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PGM
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VCA
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Kingstown Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Kingstown Capital Management held 18 positions worth $461M, down 39% from $754M the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Kingstown Capital Management withdrew a net $168M in Q4 2018, closing 3 positions and reducing 5 holdings. Its most notable exit was Bank of New York Mellon, an estimated $53.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 24% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Kingstown Capital Management opened a new position in Tencent Music worth $23.1M.

  • Kingstown Capital Management's largest Q4 2018 buy was Tencent Music: 1,750,000 shares worth $23.1M.
  • Kingstown Capital Management added most to McDermott International in Q4 2018, an estimated $18.5M increase.
  • Kingstown Capital Management's biggest Q4 2018 reduction was Rithm Capital, cutting an estimated $25.3M.
  • Kingstown Capital Management fully exited Bank of New York Mellon in Q4 2018, selling an estimated $53.5M.
  • Kingstown Capital Management's ten largest holdings make up 84% of its $461M portfolio in Q4 2018.
  • Kingstown Capital Management opened 1 new position and closed 3 in Q4 2018.
  • Kingstown Capital Management's portfolio value fell 39% quarter-over-quarter to $461M.

Based on Kingstown Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.