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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
+8.2%
1 Year Est. Return
-3.71%
3 Year Est. Return
+38.62%
5 Year Est. Return
+13.87%
10 Year Est. Return
–
AUM
$162M
AUM Growth
-$50M
Cap. Flow
-$59.7M
Cap. Flow %
-36.75%
Top 10 Hldgs %
80.9%
Holding
19
New
5
Increased
–
Reduced
10
Closed
4

Top Buys

Rank Stock Value
1
BX icon
Blackstone
BX
+$21.4M
2
SINA
Sina Corp
SINA
+$12.1M
3
WIX icon
WIX.com
WIX
+$8.96M
4
STAY
Extended Stay America, Inc. Paired Share Unit
STAY
+$5.99M
5
PSTH
Pershing Square Tontine Holdings, Ltd.
PSTH
+$5.62M

Top Sells

Rank Stock Value
1
TWTR
Twitter, Inc.
TWTR
+$19.4M
2
BABA icon
Alibaba
BABA
+$14.5M
3
TME icon
Tencent Music
TME
+$11.7M
4
SPR
Spirit AeroSystems
SPR
+$10.8M
5
EFC
Ellington Financial
EFC
+$9.16M

Sector Composition

Rank Sector Weight
1 Financials 16.35%
2 Technology 14.81%
3 Communication Services 14.2%
4 Materials 12.07%
5 Consumer Discretionary 11.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BX icon
1
Blackstone
BX
$104B
$20.9M 12.86%
+400,000
New +$21.4M
B
2
Barrick Mining
B
$60.9B
$19.6M 12.07%
700,000
-175,000
-20% -$4.98M
MSFT icon
3
Microsoft
MSFT
$2.9T
$15.8M 9.71%
75,000
-25,000
-25% -$5.25M
TME icon
4
Tencent Music
TME
$15.9B
$14.8M 9.09%
1,000,000
-750,000
-43% -$11.7M
BABA icon
5
Alibaba
BABA
$276B
$13.2M 8.14%
45,000
-55,000
-55% -$14.5M
SINA
6
DELISTED
Sina Corp
SINA
$12.8M 7.87%
+300,000
New +$12.1M
FCN icon
7
FTI Consulting
FCN
$5.14B
$10.6M 6.52%
100,000
-62,500
-38% -$7.1M
PINS icon
8
Pinterest
PINS
$13.7B
$8.3M 5.11%
200,000
-50,000
-20% -$1.63M
WIX icon
9
WIX.com
WIX
$2.56B
$8.28M 5.1%
+32,500
New +$8.96M
FE icon
10
FirstEnergy
FE
$28.4B
$7.18M 4.42%
250,000
-250,000
-50% -$7.84M
LSXMA
11
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$6.63M 4.08%
272,200
-204,150
-43% -$5.25M
LSXMK
12
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$6.62M 4.07%
258,200
-193,650
-43% -$5.24M
EFC
13
Ellington Financial
EFC
$1.69B
$6.13M 3.77%
500,000
-750,000
-60% -$9.16M
STAY
14
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
$5.97M 3.68%
+500,000
New +$5.99M
PSTH
15
DELISTED
Pershing Square Tontine Holdings, Ltd.
PSTH
$5.67M 3.49%
+250,000
New +$5.62M
GTX icon
16
Garrett Motion
GTX
$5.37B
– –
-1,000,000
Closed -$5.54M
SPR
17
DELISTED
Spirit AeroSystems
SPR
– –
-450,000
Closed -$10.8M
SPT icon
18
Sprout Social
SPT
$530M
– –
-200,000
Closed -$5.4M
TWTR
19
DELISTED
Twitter, Inc.
TWTR
– –
-650,000
Closed -$19.4M

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PGM
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VCA
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LUGPSI
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SAM
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SHI
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KL
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GX
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Kingstown Capital Management's Q3 2020 Portfolio in Review

As of Q3 2020, Kingstown Capital Management held 19 positions worth $162M, down 24% from $212M the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Kingstown Capital Management withdrew a net $59.7M in Q3 2020, closing 4 positions and reducing 10 holdings. Its most notable exit was Twitter, Inc., an estimated $19.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 0% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Kingstown Capital Management opened a new position in Blackstone worth $20.9M.

  • Kingstown Capital Management's largest Q3 2020 buy was Blackstone: 400,000 shares worth $20.9M.
  • Kingstown Capital Management's biggest Q3 2020 reduction was Alibaba, cutting an estimated $14.5M.
  • Kingstown Capital Management fully exited Twitter, Inc. in Q3 2020, selling an estimated $19.4M.
  • Kingstown Capital Management's ten largest holdings make up 81% of its $162M portfolio in Q3 2020.
  • Kingstown Capital Management opened 5 new positions and closed 4 in Q3 2020.
  • Kingstown Capital Management's portfolio value fell 24% quarter-over-quarter to $162M.

Based on Kingstown Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.