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LM

Litespeed Management Portfolio holdings

AUM $48.2M
1-Year Est. Return 9.81%
This Fund
S&P 500
This Quarter Est. Return
-8.22%
1 Year Est. Return
-9.81%
3 Year Est. Return
+73.69%
5 Year Est. Return
+51.88%
10 Year Est. Return
–
AUM
$1.29B
AUM Growth
-$294M
Cap. Flow
-$163M
Cap. Flow %
-12.62%
Top 10 Hldgs %
65.27%
Holding
35
New
4
Increased
6
Reduced
4
Closed
7

Top Buys

1
AGN
Allergan plc
AGN
+$76.8M
2
INVA icon
Innoviva
INVA
+$61.4M
3
FMC icon
FMC
FMC
+$43.2M
4
RAI
Reynolds American Inc
RAI
+$42.2M
5
PFE icon
Pfizer
PFE
+$15.5M

Top Sells

1
CTB
Cooper Tire & Rubber Co.
CTB
+$100M
2
APC
Anadarko Petroleum
APC
+$77.5M
3
AGN
Allergan Inc
AGN
+$75.5M
4
HSH
HILLSHIRE BRANDS CO
HSH
+$36.8M
5
DTV
DIRECTV COM STK (DE)
DTV
+$31.3M

Sector Composition

1 Materials 26.42%
2 Healthcare 22.1%
3 Communication Services 14.85%
4 Consumer Staples 8.05%
5 Consumer Discretionary 7.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FMC icon
1
FMC
FMC
$1.4B
$138M 10.64%
2,776,831
+759,150
+38% +$43.2M
AGN
2
DELISTED
Allergan plc
AGN
$136M 10.48%
562,583
+343,100
+156% +$76.8M
FCX icon
3
Freeport-McMoran
FCX
$83.9B
$85.1M 6.57%
2,606,983
-145,000
-5% -$5.27M
PFE icon
4
Pfizer
PFE
$143B
$85M 6.57%
3,030,250
+553,350
+22% +$15.5M
GM icon
5
General Motors
GM
$68.6B
$82.7M 6.39%
2,589,549
+100,000
+4% +$3.48M
DISH
6
DELISTED
DISH Network Corp.
DISH
$71M 5.49%
1,099,958
-175,894
-14% -$11.4M
GSAT icon
7
Globalstar
GSAT
$10.2B
$62.7M 4.84%
1,142,347
+8,910
+0.8% +$532K
FTD
8
DELISTED
FTD Companies, Inc. Common Stock
FTD
$62.4M 4.82%
1,830,646
– –
PRMW
9
DELISTED
Primo Water Corporation
PRMW
$61.5M 4.75%
8,945,342
– –
TROX icon
10
Tronox
TROX
$932M
$61.1M 4.72%
2,345,955
– –
PPLI
11
People Inc
PPLI
$3.31B
$58.5M 4.52%
4,966,142
– –
B
12
Barrick Mining
B
$58.5B
$58.1M 4.48%
3,960,300
– –
SD
13
DELISTED
SANDRIDGE ENERGY, INC.
SD
$52.1M 4.03%
12,148,924
+164,137
+1% +$918K
INVA icon
14
Innoviva
INVA
$1.6B
$45.6M 3.53%
+2,670,695
New +$61.4M
RAI
15
DELISTED
Reynolds American Inc
RAI
$42.8M 3.3%
+1,450,000
New +$42.2M
NBHC icon
16
National Bank Holdings
NBHC
$2.08B
$32.6M 2.52%
1,705,816
– –
MIG
17
DELISTED
MEADOWBROOK INSURANCE GRP INC
MIG
$28.1M 2.17%
4,807,631
– –
GLD icon
18
SPDR Gold Trust
GLD
$130B
$19.3M 1.49%
166,450
– –
DYN.WS
19
DELISTED
Dynegy Inc,
DYN.WS
$19.3M 1.49%
4,664,219
– –
MIC
20
DELISTED
Macquarie Infrastructure Holdings, LLC
MIC
$15.5M 1.2%
232,103
-253,003
-52% -$17.6M
SHPG
21
DELISTED
Shire pic
SHPG
$12.2M 0.94%
+47,000
New +$11.7M
RSH
22
DELISTED
RADIOSHACK CORP
RSH
$8.79M 0.68%
8,875,000
– –
ICUI icon
23
ICU Medical
ICUI
$3.94B
$6.57M 0.51%
102,314
-31,800
-24% -$1.95M
SNN icon
24
Smith & Nephew
SNN
$12.9B
$960K 0.07%
28,500
– –
GM.WS.A
25
DELISTED
GENERAL MOTORS COMPANY WARRANT (EXPIRES 07/10/2016)
GM.WS.A
$93K 0.01%
4,135
– –
1
2

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SCM
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FC
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NBG
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AXA
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WA
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EGPO
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TC
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Litespeed Management's Q3 2014 Portfolio in Review

As of Q3 2014, Litespeed Management held 35 positions worth $1.29B, down 19% from $1.59B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Litespeed Management withdrew a net $163M in Q3 2014, closing 7 positions and reducing 4 holdings. Its most notable exit was Cooper Tire & Rubber Co., an estimated $100M position sold in full.

By sector, the portfolio is most concentrated in Materials at 26% of assets, up from 23% a quarter earlier, followed by Healthcare and Communication Services.

Against the trend, Litespeed Management opened a new position in Innoviva worth $45.6M.

  • Litespeed Management's largest Q3 2014 buy was Innoviva: 2,670,695 shares worth $45.6M.
  • Litespeed Management added most to Allergan plc in Q3 2014, an estimated $76.8M increase.
  • Litespeed Management's biggest Q3 2014 reduction was Macquarie Infrastructure Holdings, LLC, cutting an estimated $17.6M.
  • Litespeed Management fully exited Cooper Tire & Rubber Co. in Q3 2014, selling an estimated $100M.
  • Litespeed Management's ten largest holdings make up 65% of its $1.29B portfolio in Q3 2014.
  • Litespeed Management opened 4 new positions and closed 7 in Q3 2014.
  • Litespeed Management's portfolio value fell 19% quarter-over-quarter to $1.29B.

Based on Litespeed Management's 13F filing for Q3 2014, filed 14 Nov 2014.