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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
-20.82%
1 Year Est. Return
-3.71%
3 Year Est. Return
+38.62%
5 Year Est. Return
+13.87%
10 Year Est. Return
–
AUM
$651M
AUM Growth
+$307M
(+89%)
Cap. Flow
+$448M
Cap. Flow
% of AUM
68.77%
Top 10 Holdings %
Top 10 Hldgs %
69.74%
Holding
27
New
14
Increased
4
Reduced
–
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPR
Spirit AeroSystems
SPR
|
+$60.9M |
| 2 |
FG
FGL Holdings Ordinary Shares
FG
|
+$58.1M |
| 3 |
Goldman Sachs
GS
|
+$53.1M |
| 4 |
TWTR
Twitter, Inc.
TWTR
|
+$48.5M |
| 5 |
Interactive Brokers
IBKR
|
+$48.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$53M |
| 2 |
KKR & Co
KKR
|
+$36.5M |
| 3 |
eBay
EBAY
|
+$27.1M |
| 4 |
RP
RealPage, Inc.
RP
|
+$10.8M |
| 5 |
Five Point Holdings
FPH
|
+$8.69M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 36.04% |
| 2 | Communication Services | 15.09% |
| 3 | Consumer Discretionary | 10.11% |
| 4 | Industrials | 9.12% |
| 5 | Technology | 6.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
FG
1
DELISTED
FGL Holdings Ordinary Shares
FG
| $108M | 16.56% |
11,000,000
+5,500,000
| +100% | +$58.1M |
|
|
2
Interactive Brokers
IBKR
$38.8B
| $43.2M | 6.63% |
+4,000,000
| New | +$48.3M |
|
|
CERN
3
DELISTED
Cerner Corp
CERN
| $40.9M | 6.29% |
+650,000
| New | +$46.2M |
|
4
Tencent Music
TME
$15.7B
| $40.2M | 6.18% |
4,000,000
+375,000
| +10% | +$4.62M |
|
5
FirstEnergy
FE
$27.4B
| $40.1M | 6.16% |
+1,000,000
| New | +$46.5M |
|
|
6
Goldman Sachs
GS
$301B
| $38.6M | 5.94% |
+250,000
| New | +$53.1M |
|
7
Northern Trust
NTRS
$33.7B
| $37.7M | 5.8% |
+500,000
| New | +$45.8M |
|
|
TWTR
8
DELISTED
Twitter, Inc.
TWTR
| $36.8M | 5.66% |
+1,500,000
| New | +$48.5M |
|
9
Microsoft
MSFT
$3.71T
| $35.5M | 5.45% |
+225,000
| New | +$37M |
|
10
RTX Corp
RTX
$301B
| $33M | 5.07% |
+556,150
| New | +$47.1M |
|
11
Starbucks
SBUX
$120B
| $32.9M | 5.05% |
+500,000
| New | +$40.4M |
|
|
LK
12
DELISTED
Luckin Coffee Inc. American Depositary Shares
LK
| $27.2M | 4.18% |
+1,000,000
| New | +$36.8M |
|
|
SPR
13
DELISTED
Spirit AeroSystems
SPR
| $26.3M | 4.04% |
+1,100,000
| New | +$60.9M |
|
14
Madison Square Garden
MSGS
$9.43B
| $21.1M | 3.25% |
+140,200
| New | +$27.2M |
|
|
LSXMA
15
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $19M | 2.92% |
830,482
+276,827
| +50% | +$8.75M |
|
|
LSXMK
16
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $19M | 2.91% |
787,768
+262,589
| +50% | +$8.8M |
|
17
Equitable Holdings
EQH
$14.2B
| $7.22M | 1.11% |
500,000
| – | – |
|
18
Garrett Motion
GTX
$5.68B
| $5.72M | 0.88% |
+2,000,000
| New | +$14.6M |
|
19
Sprout Social
SPT
$492M
| $5.59M | 0.86% |
+350,000
| New | +$6.38M |
|
|
MDLY
20
DELISTED
Medley Management Inc
MDLY
| $170K | 0.03% |
25,000
| – | – |
|
|
21
Alibaba
BABA
$304B
| – | – |
-250,000
| Closed | -$53M |
|
|
22
eBay
EBAY
$48.9B
| – | – |
-750,000
| Closed | -$27.1M |
|
|
23
Five Point Holdings
FPH
$370M
| – | – |
-1,250,000
| Closed | -$8.69M |
|
|
24
KKR & Co
KKR
$92.8B
| – | – |
-1,250,000
| Closed | -$36.5M |
|
25
Rimini Street
RMNI
$462M
| – | – |
-900,000
| Closed | -$3.49M |
|
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Kingstown Capital Management's Q1 2020 Portfolio in Review
As of Q1 2020, Kingstown Capital Management held 27 positions worth $651M, up 89% from $344M the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Kingstown Capital Management deployed $448M of net new capital in Q1 2020, opening 14 new positions and adding to 4 existing holdings. Its largest new stake was Spirit AeroSystems: 1,100,000 shares worth $26.3M.
By sector, the portfolio is most concentrated in Financials at 36% of assets, up from 31% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the most notable exit was Alibaba, an estimated $53M sold.
- Kingstown Capital Management's largest Q1 2020 buy was Spirit AeroSystems: 1,100,000 shares worth $26.3M.
- Kingstown Capital Management added most to FGL Holdings Ordinary Shares in Q1 2020, an estimated $58.1M increase.
- Kingstown Capital Management fully exited Alibaba in Q1 2020, selling an estimated $53M.
- Kingstown Capital Management's ten largest holdings make up 70% of its $651M portfolio in Q1 2020.
- Kingstown Capital Management opened 14 new positions and closed 6 in Q1 2020.
- Kingstown Capital Management's portfolio value rose 89% quarter-over-quarter to $651M.
Based on Kingstown Capital Management's 13F filing for Q1 2020, filed 15 May 2020.