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Muzinich & Co Portfolio holdings
AUM
$293M
1-Year Est. Return
18.57%
This Fund
S&P 500
This Quarter
Est. Return
-3.34%
1 Year Est. Return
-18.57%
3 Year Est. Return
-9.67%
5 Year Est. Return
-14.94%
10 Year Est. Return
-7.38%
AUM
$595M
AUM Growth
-$176M
(-23%)
Cap. Flow
-$147M
Cap. Flow
% of AUM
-24.73%
Top 10 Holdings %
Top 10 Hldgs %
69.18%
Holding
43
New
2
Increased
5
Reduced
33
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CCT
Corporate Capital Trust, Inc.
CCT
|
+$17M |
| 2 |
Barings BDC
BBDC
|
+$5.82M |
| 3 |
PNNT
Pennant Park Investment Corp
PNNT
|
+$3.88M |
| 4 |
Invesco Senior Loan ETF
BKLN
|
+$683K |
| 5 |
ProShares Short 20+ Year Treasury ETF
TBF
|
+$230K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ares Capital
ARCC
|
+$41.8M |
| 2 |
Main Street Capital
MAIN
|
+$18M |
| 3 |
New Mountain Finance
NMFC
|
+$10.4M |
| 4 |
Golub Capital BDC
GBDC
|
+$10.3M |
| 5 |
BlackRock TCP Capital
TCPC
|
+$9.63M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 92.61% |
| 2 | Real Estate | 0.31% |
| 3 | Utilities | 0.08% |
| 4 | Industrials | 0.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Ares Capital
ARCC
$13.5B
| $109M | 18.33% |
6,874,586
-2,638,244
| -28% | -$41.8M |
|
|
2
Main Street Capital
MAIN
$5.06B
| $52.3M | 8.78% |
1,416,818
-479,606
| -25% | -$18M |
|
3
Prospect Capital
PSEC
$1.08B
| $48.9M | 8.22% |
7,467,712
-140,786
| -2% | -$940K |
|
4
FS KKR Capital
FSK
$2.96B
| $40.8M | 6.85% |
1,405,542
-227,283
| -14% | -$6.76M |
|
5
MidCap Financial Investment
MFIC
$796M
| $32.9M | 5.52% |
2,098,005
-282,248
| -12% | -$4.69M |
|
|
6
Golub Capital BDC
GBDC
$3.34B
| $28.1M | 4.73% |
1,606,416
-581,852
| -27% | -$10.3M |
|
|
7
New Mountain Finance
NMFC
$653M
| $27M | 4.54% |
2,054,637
-784,459
| -28% | -$10.4M |
|
8
SLR Investment Corp
SLRC
$696M
| $24.8M | 4.17% |
1,221,897
-417,380
| -25% | -$8.59M |
|
9
Hercules Capital
HTGC
$2.98B
| $24.8M | 4.17% |
2,049,840
-710,631
| -26% | -$8.91M |
|
|
10
BlackRock TCP Capital
TCPC
$273M
| $23M | 3.87% |
1,617,809
-655,476
| -29% | -$9.63M |
|
11
Sixth Street Specialty
TSLX
$1.64B
| $22.2M | 3.74% |
1,245,596
-449,952
| -27% | -$8.44M |
|
|
12
Barings BDC
BBDC
$865M
| $21.5M | 3.61% |
1,930,224
+535,541
| +38% | +$5.82M |
|
13
Carlyle Secured Lending
CGBD
$702M
| $19.8M | 3.32% |
1,104,243
| – | – |
|
|
CCT
14
DELISTED
Corporate Capital Trust, Inc.
CCT
| $18M | 3.02% |
+1,064,155
| New | +$17M |
|
15
Goldman Sachs BDC
GSBD
$975M
| $17.4M | 2.92% |
908,742
-264,749
| -23% | -$5.5M |
|
|
PNNT
16
Pennant Park Investment Corp
PNNT
$217M
| $15.7M | 2.64% |
2,355,718
+560,038
| +31% | +$3.88M |
|
17
PennantPark Floating Rate Capital
PFLT
$696M
| $12.8M | 2.15% |
976,354
-351,834
| -26% | -$4.64M |
|
18
Oaktree Specialty Lending
OCSL
$1.03B
| $7.49M | 1.26% |
593,262
-543,844
| -48% | -$7.53M |
|
|
BKCC
19
DELISTED
BlackRock Capital Investment Corporation
BKCC
| $7.09M | 1.19% |
1,176,429
-420,375
| -26% | -$2.47M |
|
|
MRCC
20
DELISTED
Monroe Capital Corp
MRCC
| $6.98M | 1.17% |
567,620
-105,790
| -16% | -$1.41M |
|
21
Fidus Investment
FDUS
$755M
| $6.74M | 1.13% |
523,348
-544,177
| -51% | -$7.57M |
|
|
SUNS
22
DELISTED
SLR Senior Investment Corp. Common Stock
SUNS
| $6M | 1.01% |
357,279
-214,726
| -38% | -$3.67M |
|
23
Stellus Capital Investment Corp
SCM
$216M
| $5.51M | 0.93% |
478,947
-309,877
| -39% | -$3.73M |
|
|
OCSI
24
DELISTED
Oaktree Strategic Income Corporation
OCSI
| $4.54M | 0.76% |
574,847
-409,260
| -42% | -$3.28M |
|
25
OFS Capital
OFS
$44.1M
| $3.32M | 0.56% |
295,506
-113,884
| -28% | -$1.33M |
|
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Muzinich & Co's Q1 2018 Portfolio in Review
As of Q1 2018, Muzinich & Co held 43 positions worth $595M, down 23% from $771M the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Muzinich & Co withdrew a net $147M in Q1 2018, closing 1 position and reducing 33 holdings. Its most notable exit was iShares iBoxx $ High Yield Corporate Bond ETF, an estimated $3.33M position sold in full.
By sector, the portfolio is most concentrated in Financials at 93% of assets, down from 95% a quarter earlier, followed by Real Estate and Utilities.
Against the trend, Muzinich & Co opened a new position in Corporate Capital Trust, Inc. worth $18M.
- Muzinich & Co's largest Q1 2018 buy was Corporate Capital Trust, Inc.: 1,064,155 shares worth $18M.
- Muzinich & Co added most to Barings BDC in Q1 2018, an estimated $5.82M increase.
- Muzinich & Co's biggest Q1 2018 reduction was Ares Capital, cutting an estimated $41.8M.
- Muzinich & Co fully exited iShares iBoxx $ High Yield Corporate Bond ETF in Q1 2018, selling an estimated $3.33M.
- Muzinich & Co's ten largest holdings make up 69% of its $595M portfolio in Q1 2018.
- Muzinich & Co opened 2 new positions and closed 1 in Q1 2018.
- Muzinich & Co's portfolio value fell 23% quarter-over-quarter to $595M.
Based on Muzinich & Co's 13F filing for Q1 2018, filed 14 May 2018.