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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
+10.54%
1 Year Est. Return
-3.71%
3 Year Est. Return
+38.62%
5 Year Est. Return
+13.87%
10 Year Est. Return
–
AUM
$344M
AUM Growth
-$58.8M
(-15%)
Cap. Flow
-$141M
Cap. Flow
% of AUM
-40.88%
Top 10 Holdings %
Top 10 Hldgs %
96.25%
Holding
17
New
1
Increased
–
Reduced
6
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
RP
RealPage, Inc.
RP
|
+$11.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AABA
Altaba Inc
AABA
|
+$19.5M |
| 2 |
General Motors
GM
|
+$18.7M |
| 3 |
Equitable Holdings
EQH
|
+$16.2M |
| 4 |
DXC Technology
DXC
|
+$14.8M |
| 5 |
FG
FGL Holdings Ordinary Shares
FG
|
+$13.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.2% |
| 2 | Consumer Discretionary | 23.27% |
| 3 | Communication Services | 12.36% |
| 4 | Technology | 4.14% |
| 5 | Real Estate | 2.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
FG
1
DELISTED
FGL Holdings Ordinary Shares
FG
| $58.6M | 17.01% |
5,500,000
-1,500,000
| -21% | -$13.6M |
|
2
Alibaba
BABA
$276B
| $53M | 15.4% |
250,000
-50,000
| -17% | -$9.38M |
|
3
Tencent Music
TME
$15.9B
| $42.6M | 12.36% |
3,625,000
| – | – |
|
4
KKR & Co
KKR
$89.1B
| $36.5M | 10.59% |
1,250,000
| – | – |
|
5
eBay
EBAY
$51.2B
| $27.1M | 7.87% |
750,000
-250,000
| -25% | -$9.06M |
|
|
LSXMA
6
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $19.3M | 5.62% |
553,655
| – | – |
|
|
LSXMK
7
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $19.3M | 5.59% |
525,179
| – | – |
|
|
8
Equitable Holdings
EQH
$13.2B
| $12.4M | 3.6% |
500,000
-700,000
| -58% | -$16.2M |
|
|
RP
9
DELISTED
RealPage, Inc.
RP
| $10.8M | 3.12% |
+200,000
| New | +$11.4M |
|
10
Five Point Holdings
FPH
$387M
| $8.69M | 2.52% |
1,250,000
-200,000
| -14% | -$1.37M |
|
11
Rimini Street
RMNI
$457M
| $3.49M | 1.01% |
900,000
-100,000
| -10% | -$400K |
|
|
MDLY
12
DELISTED
Medley Management Inc
MDLY
| $740K | 0.21% |
25,000
| – | – |
|
|
13
DXC Technology
DXC
$1.91B
| – | – |
-500,000
| Closed | -$14.8M |
|
|
14
General Motors
GM
$80.9B
| – | – |
-500,000
| Closed | -$18.7M |
|
|
MDR
15
PUT
DELISTED
McDermott International
MDR
| – | – |
-500,000
| Closed | -$1.01M |
|
|
AABA
16
DELISTED
Altaba Inc
AABA
| – | – |
-1,000,000
| Closed | -$19.5M |
|
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Kingstown Capital Management's Q4 2019 Portfolio in Review
As of Q4 2019, Kingstown Capital Management held 17 positions worth $344M, down 15% from $403M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Kingstown Capital Management withdrew a net $141M in Q4 2019, closing 4 positions and reducing 6 holdings. Its most notable exit was Altaba Inc, an estimated $19.5M position sold in full.
By sector, the portfolio is most concentrated in Financials at 31% of assets, up from 29% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Kingstown Capital Management opened a new position in RealPage, Inc. worth $10.8M.
- Kingstown Capital Management's largest Q4 2019 buy was RealPage, Inc.: 200,000 shares worth $10.8M.
- Kingstown Capital Management's biggest Q4 2019 reduction was Equitable Holdings, cutting an estimated $16.2M.
- Kingstown Capital Management fully exited Altaba Inc in Q4 2019, selling an estimated $19.5M.
- Kingstown Capital Management's ten largest holdings make up 96% of its $344M portfolio in Q4 2019.
- Kingstown Capital Management opened 1 new position and closed 4 in Q4 2019.
- Kingstown Capital Management's portfolio value fell 15% quarter-over-quarter to $344M.
Based on Kingstown Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.