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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
-6.34%
1 Year Est. Return
-3.71%
3 Year Est. Return
+38.62%
5 Year Est. Return
+13.87%
10 Year Est. Return
–
AUM
$403M
AUM Growth
-$146M
(-27%)
Cap. Flow
-$89.7M
Cap. Flow
% of AUM
-22.26%
Top 10 Holdings %
Top 10 Hldgs %
87.96%
Holding
17
New
2
Increased
2
Reduced
4
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$51.6M |
| 2 |
KKR & Co
KKR
|
+$3.3M |
| 3 |
Tencent Music
TME
|
+$1.76M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MDR
McDermott International
MDR
|
+$49.2M |
| 2 |
eBay
EBAY
|
+$20.1M |
| 3 |
Equitable Holdings
EQH
|
+$17.2M |
| 4 |
DXC Technology
DXC
|
+$16M |
| 5 |
Rimini Street
RMNI
|
+$740K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 28.78% |
| 2 | Consumer Discretionary | 26.77% |
| 3 | Communication Services | 11.48% |
| 4 | Technology | 9.58% |
| 5 | Real Estate | 2.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
FG
1
DELISTED
FGL Holdings Ordinary Shares
FG
| $55.9M | 13.86% |
7,000,000
| – | – |
|
|
2
Alibaba
BABA
$276B
| $50.2M | 12.45% |
+300,000
| New | +$51.6M |
|
|
3
Tencent Music
TME
$15.9B
| $46.3M | 11.48% |
3,625,000
+125,000
| +4% | +$1.76M |
|
|
4
eBay
EBAY
$51.2B
| $39M | 9.67% |
1,000,000
-500,000
| -33% | -$20.1M |
|
|
5
KKR & Co
KKR
$89.1B
| $33.6M | 8.33% |
1,250,000
+125,000
| +11% | +$3.3M |
|
|
6
Equitable Holdings
EQH
$13.2B
| $26.6M | 6.6% |
1,200,000
-800,000
| -40% | -$17.2M |
|
|
AABA
7
DELISTED
Altaba Inc
AABA
| $19.5M | 4.83% |
1,000,000
| – | – |
|
8
General Motors
GM
$80.9B
| $18.7M | 4.65% |
500,000
| – | – |
|
|
LSXMK
9
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $16.8M | 4.16% |
525,179
| – | – |
|
|
LSXMA
10
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $16.6M | 4.13% |
553,655
| – | – |
|
|
11
DXC Technology
DXC
$1.91B
| $14.8M | 3.66% |
500,000
-375,000
| -43% | -$16M |
|
12
Five Point Holdings
FPH
$387M
| $10.9M | 2.7% |
1,450,000
| – | – |
|
|
13
Rimini Street
RMNI
$457M
| $4.38M | 1.09% |
1,000,000
-152,067
| -13% | -$740K |
|
|
MDR
14
PUT
DELISTED
McDermott International
MDR
| $1.01M | 0.25% |
+500,000
| New | +$3.07M |
|
|
MDLY
15
DELISTED
Medley Management Inc
MDLY
| $875K | 0.22% |
25,000
| – | – |
|
|
MDR
16
DELISTED
McDermott International
MDR
| – | – |
-8,000,000
| Closed | -$49.2M |
|
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Kingstown Capital Management's Q3 2019 Portfolio in Review
As of Q3 2019, Kingstown Capital Management held 17 positions worth $403M, down 27% from $549M the previous quarter. Its ten largest holdings account for 88% of the portfolio.
Kingstown Capital Management withdrew a net $89.7M in Q3 2019, closing 1 position and reducing 4 holdings. Its most notable exit was McDermott International, an estimated $49.2M position sold in full.
By sector, the portfolio is most concentrated in Financials at 29% of assets, up from 23% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Kingstown Capital Management opened a new position in Alibaba worth $50.2M.
- Kingstown Capital Management's largest Q3 2019 buy was Alibaba: 300,000 shares worth $50.2M.
- Kingstown Capital Management added most to KKR & Co in Q3 2019, an estimated $3.3M increase.
- Kingstown Capital Management's biggest Q3 2019 reduction was eBay, cutting an estimated $20.1M.
- Kingstown Capital Management fully exited McDermott International in Q3 2019, selling an estimated $49.2M.
- Kingstown Capital Management's ten largest holdings make up 88% of its $403M portfolio in Q3 2019.
- Kingstown Capital Management opened 2 new positions and closed 1 in Q3 2019.
- Kingstown Capital Management's portfolio value fell 27% quarter-over-quarter to $403M.
Based on Kingstown Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.