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NRC
North Run Capital Portfolio holdings
AUM
$43.5M
1-Year Est. Return
38.24%
This Fund
S&P 500
This Quarter
Est. Return
+9.26%
1 Year Est. Return
-38.24%
3 Year Est. Return
+19.43%
5 Year Est. Return
+17.57%
10 Year Est. Return
–
AUM
$281M
AUM Growth
-$46.1M
(-14%)
Cap. Flow
-$72.9M
Cap. Flow
% of AUM
-25.91%
Top 10 Holdings %
Top 10 Hldgs %
86.15%
Holding
23
New
4
Increased
2
Reduced
9
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
IMPV
Imperva, Inc.
IMPV
|
+$28.5M |
| 2 |
NYRT
New York REIT, Inc.
NYRT
|
+$15.7M |
| 3 |
SPS Commerce
SPSC
|
+$7.49M |
| 4 |
Workiva
WK
|
+$262K |
| 5 |
CACQ
Caesars Acquisition Company
CACQ
|
+$61.9K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Teva Pharmaceuticals
TEVA
|
+$38.8M |
| 2 |
Elevance Health
ELV
|
+$25.5M |
| 3 |
Brookdale Senior Living
BKD
|
+$14.4M |
| 4 |
Constellium
CSTM
|
+$14M |
| 5 |
Magnachip Semiconductor
MX
|
+$13.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 30.43% |
| 2 | Technology | 19.4% |
| 3 | Financials | 13.61% |
| 4 | Materials | 9.53% |
| 5 | Communication Services | 6.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
McKesson
MCK
$100B
| $34.1M | 12.12% |
230,000
-5,000
| -2% | -$732K |
|
2
Willis Towers Watson
WTW
$31.2B
| $33.1M | 11.77% |
252,950
| – | – |
|
|
3
Brookdale Senior Living
BKD
$3.49B
| $32.5M | 11.55% |
2,420,000
-1,020,000
| -30% | -$14.4M |
|
|
IMPV
4
DELISTED
Imperva, Inc.
IMPV
| $30.8M | 10.94% |
750,000
+681,772
| +999% | +$28.5M |
|
|
5
Constellium
CSTM
$3.76B
| $26.8M | 9.53% |
4,125,000
-1,965,000
| -32% | -$14M |
|
|
TFCFA
6
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $19.4M | 6.91% |
600,000
-105,000
| -15% | -$3.21M |
|
|
7
Elevance Health
ELV
$81.5B
| $19M | 6.76% |
115,000
-160,000
| -58% | -$25.5M |
|
|
8
Magnachip Semiconductor
MX
$119M
| $16.4M | 5.82% |
1,714,027
-1,685,973
| -50% | -$13.3M |
|
|
NYRT
9
DELISTED
New York REIT, Inc.
NYRT
| $15.5M | 5.51% |
+160,000
| New | +$15.7M |
|
|
10
CALL
Brookdale Senior Living
BKD
$3.49B
| $14.8M | 5.25% |
+1,100,000
| New | +$15.5M |
|
11
Nomad Foods
NOMD
$1.66B
| $10.3M | 3.65% |
897,934
-157,066
| -15% | -$1.67M |
|
12
Crocs
CROX
$6.14B
| $7.95M | 2.83% |
1,125,000
-775,000
| -41% | -$5.38M |
|
|
13
SPS Commerce
SPSC
$2.64B
| $7.12M | 2.53% |
+243,578
| New | +$7.49M |
|
|
NWY
14
DELISTED
New York & Co Inc
NWY
| $6.12M | 2.18% |
3,138,400
-429,480
| -12% | -$944K |
|
|
SCU
15
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
| $5.2M | 1.85% |
230,000
| – | – |
|
|
CACQ
16
DELISTED
Caesars Acquisition Company
CACQ
| $1.99M | 0.71% |
129,012
+4,239
| +3% | +$61.9K |
|
|
17
Workiva
WK
$3.36B
| $292K | 0.1% |
+18,667
| New | +$262K |
|
18
DigitalBridge
DBRG
$2.93B
| – | – |
-162,500
| Closed | -$9.7M |
|
19
Evertec
EVTC
$1.88B
| – | – |
-317,695
| Closed | -$5.64M |
|
20
EyePoint Inc
EYPT
$1.03B
| – | – |
-90,000
| Closed | -$1.54M |
|
|
21
Teva Pharmaceuticals
TEVA
$40.8B
| – | – |
-1,070,000
| Closed | -$38.8M |
|
|
ALIM
22
DELISTED
Alimera Sciences
ALIM
| – | – |
-115,333
| Closed | -$1.87M |
|
|
NSM
23
DELISTED
Nationstar Mortgage Holdings
NSM
| – | – |
-210,000
| Closed | -$3.79M |
|
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North Run Capital's Q1 2017 Portfolio in Review
As of Q1 2017, North Run Capital held 23 positions worth $281M, down 14% from $327M the previous quarter. Its ten largest holdings account for 86% of the portfolio.
North Run Capital withdrew a net $72.9M in Q1 2017, closing 6 positions and reducing 9 holdings. Its most notable exit was Teva Pharmaceuticals, an estimated $38.8M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 30% of assets, down from 48% a quarter earlier, followed by Technology and Financials.
Against the trend, North Run Capital opened a new position in New York REIT, Inc. worth $15.5M.
- North Run Capital's largest Q1 2017 buy was New York REIT, Inc.: 160,000 shares worth $15.5M.
- North Run Capital added most to Imperva, Inc. in Q1 2017, an estimated $28.5M increase.
- North Run Capital's biggest Q1 2017 reduction was Elevance Health, cutting an estimated $25.5M.
- North Run Capital fully exited Teva Pharmaceuticals in Q1 2017, selling an estimated $38.8M.
- North Run Capital's ten largest holdings make up 86% of its $281M portfolio in Q1 2017.
- North Run Capital opened 4 new positions and closed 6 in Q1 2017.
- North Run Capital's portfolio value fell 14% quarter-over-quarter to $281M.
Based on North Run Capital's 13F filing for Q1 2017, filed 12 May 2017.