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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
+1.59%
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
$334M
AUM Growth
-$148M
Cap. Flow
-$153M
Cap. Flow %
-45.7%
Top 10 Hldgs %
63.16%
Holding
67
New
9
Increased
3
Reduced
34
Closed
13

Top Buys

Rank Stock Value
1
WHF icon
WhiteHorse Finance
WHF
+$26K

Top Sells

Rank Stock Value
1
ARCC icon
Ares Capital
ARCC
+$9.53M
2
FSK icon
FS KKR Capital
FSK
+$6.44M
3
PSEC icon
Prospect Capital
PSEC
+$3.86M
4
MFIC icon
MidCap Financial Investment
MFIC
+$3.16M
5
MAIN icon
Main Street Capital
MAIN
+$2.43M

Sector Composition

Rank Sector Weight
1 Financials 75.74%
2 Real Estate 0.28%
3 Utilities 0.13%
4 Industrials 0%
5 Healthcare 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARCC icon
1
Ares Capital
ARCC
$13.5B
$52M 15.55%
2,788,741
-513,675
-16% -$9.53M
MAIN icon
2
Main Street Capital
MAIN
$5.06B
$25.8M 7.71%
596,230
-56,974
-9% -$2.43M
FSK icon
3
FS KKR Capital
FSK
$2.96B
$23.4M 7%
1,002,661
-274,637
-22% -$6.44M
HYG icon
4
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$20.3M 6.07%
232,500
+99,750
+75% +$8.66M
PSEC icon
5
Prospect Capital
PSEC
$1.08B
$19M 5.69%
2,885,827
-585,996
-17% -$3.86M
SPY icon
6
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$19M 5.69%
64,000
-271,000
-81% -$80.1M
HTGC icon
7
Hercules Capital
HTGC
$2.98B
$14.7M 4.41%
1,101,253
-55,271
-5% -$721K
GBDC icon
8
Golub Capital BDC
GBDC
$3.34B
$13.6M 4.08%
737,990
-33,182
-4% -$596K
TSLX icon
9
Sixth Street Specialty
TSLX
$1.64B
$12.2M 3.65%
580,991
-36,431
-6% -$739K
MFIC icon
10
MidCap Financial Investment
MFIC
$796M
$11.1M 3.33%
690,750
-193,445
-22% -$3.16M
NMFC icon
11
New Mountain Finance
NMFC
$653M
$10.9M 3.26%
799,639
-61,221
-7% -$835K
SLRC icon
12
SLR Investment Corp
SLRC
$696M
$10.4M 3.11%
502,493
-18,552
-4% -$382K
GSBD icon
13
Goldman Sachs BDC
GSBD
$975M
$9.41M 2.82%
468,219
-63,817
-12% -$1.28M
BCSF icon
14
Bain Capital Specialty
BCSF
$810M
$9.26M 2.77%
497,392
-54,802
-10% -$988K
TCPC icon
15
BlackRock TCP Capital
TCPC
$273M
$7.55M 2.26%
557,449
-167,049
-23% -$2.3M
OCSL icon
16
Oaktree Specialty Lending
OCSL
$1.03B
$7.07M 2.12%
455,070
-133,069
-23% -$2.09M
CGBD icon
17
Carlyle Secured Lending
CGBD
$702M
$6.8M 2.04%
472,541
-85,139
-15% -$1.25M
TLT icon
18
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.4B
$5.87M 1.76%
41,000
-129,000
-76% -$17.9M
PFLT icon
19
PennantPark Floating Rate Capital
PFLT
$696M
$4.67M 1.4%
402,165
-80,910
-17% -$938K
IWM icon
20
PUT
iShares Russell 2000 ETF
IWM
$80.2B
$4.54M 1.36%
+30,000
New +$4.58M
BBDC icon
21
Barings BDC
BBDC
$865M
$3.88M 1.16%
382,646
-9,935
-3% -$98.6K
PNNT
22
Pennant Park Investment Corp
PNNT
$217M
$3.83M 1.15%
610,660
-344,768
-36% -$2.2M
BKLN icon
23
Invesco Senior Loan ETF
BKLN
$6.97B
$3.73M 1.12%
165,281
– –
XLI icon
24
PUT
State Street Industrial Select Sector SPDR ETF
XLI
$32.5B
$3.3M 0.99%
42,500
-22,500
-35% -$1.73M
FDUS icon
25
Fidus Investment
FDUS
$755M
$3.23M 0.97%
218,144
– –
1
2 3

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Muzinich & Co's Q3 2019 Portfolio in Review

As of Q3 2019, Muzinich & Co held 67 positions worth $334M, down 31% from $482M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Muzinich & Co withdrew a net $153M in Q3 2019, closing 13 positions and reducing 34 holdings. Its most notable exit was Oaktree Strategic Income Corporation, an estimated $1.26M position sold in full.

By sector, the portfolio is most concentrated in Financials at 76% of assets, up from 60% a quarter earlier, followed by Real Estate and Utilities.

Against the trend, Muzinich & Co added an estimated $26K to WhiteHorse Finance.

  • Muzinich & Co added most to WhiteHorse Finance in Q3 2019, an estimated $26K increase.
  • Muzinich & Co's biggest Q3 2019 reduction was Ares Capital, cutting an estimated $9.53M.
  • Muzinich & Co fully exited Oaktree Strategic Income Corporation in Q3 2019, selling an estimated $1.26M.
  • Muzinich & Co's ten largest holdings make up 63% of its $334M portfolio in Q3 2019.
  • Muzinich & Co opened 9 new positions and closed 13 in Q3 2019.
  • Muzinich & Co's portfolio value fell 31% quarter-over-quarter to $334M.

Based on Muzinich & Co's 13F filing for Q3 2019, filed 13 Nov 2019.