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NTC
North Tide Capital Portfolio holdings
AUM
$469M
1-Year Est. Return
6.57%
This Fund
S&P 500
This Quarter
Est. Return
-8.6%
1 Year Est. Return
+6.57%
3 Year Est. Return
+14.81%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$585M
AUM Growth
-$334M
(-36%)
Cap. Flow
-$267M
Cap. Flow
% of AUM
-45.7%
Top 10 Holdings %
Top 10 Hldgs %
88.65%
Holding
20
New
3
Increased
2
Reduced
5
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
IPXL
Impax Laboratories, Inc.
IPXL
|
+$34.2M |
| 2 |
AGN
Allergan plc
AGN
|
+$20.7M |
| 3 |
Accuray
ARAY
|
+$5.19M |
| 4 |
Myriad Genetics
MYGN
|
+$2.71M |
| 5 |
KND
Kindred Healthcare
KND
|
+$2.05M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Community Health Systems
CYH
|
+$63.5M |
| 2 |
Bausch Health
BHC
|
+$49.1M |
| 3 |
Viatris
VTRS
|
+$46.4M |
| 4 |
Perrigo
PRGO
|
+$46.2M |
| 5 |
SEM
Select Medical
SEM
|
+$40M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 85.25% |
| 2 | Consumer Staples | 14.75% |
| 3 | Consumer Discretionary | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SEM
1
DELISTED
Select Medical
SEM
| $133M | 22.65% |
18,560,000
-5,753,600
| -24% | -$40M |
|
|
TVTY
2
DELISTED
Tivity Health, Inc. Common Stock
TVTY
| $102M | 17.5% |
4,500,000
| – | – |
|
|
SVU
3
DELISTED
SUPERVALU Inc.
SVU
| $86.3M | 14.75% |
2,638,560
-861,440
| -25% | -$28.6M |
|
4
Gilead Sciences
GILD
$187B
| $35.8M | 6.12% |
500,000
-300,000
| -38% | -$22.3M |
|
|
KND
5
DELISTED
Kindred Healthcare
KND
| $33.4M | 5.7% |
4,250,000
+250,000
| +6% | +$2.05M |
|
|
ELOS
6
DELISTED
Syneron Medical Ltd
ELOS
| $29.4M | 5.03% |
3,500,000
| – | – |
|
|
7
Viatris
VTRS
$19.4B
| $28.6M | 4.89% |
750,000
-1,250,000
| -63% | -$46.4M |
|
|
IPXL
8
DELISTED
Impax Laboratories, Inc.
IPXL
| $26.5M | 4.53% |
+2,000,000
| New | +$34.2M |
|
|
LPNT
9
DELISTED
LifePoint Health, Inc.
LPNT
| $22.7M | 3.88% |
400,000
-100,000
| -20% | -$5.79M |
|
|
AGN
10
DELISTED
Allergan plc
AGN
| $21M | 3.59% |
+100,000
| New | +$20.7M |
|
|
11
Myriad Genetics
MYGN
$305M
| $19.2M | 3.28% |
1,150,000
+150,000
| +15% | +$2.71M |
|
|
QHC
12
DELISTED
Quorum Health Corporation
QHC
| $18.2M | 3.11% |
2,500,000
| – | – |
|
|
VVUS
13
DELISTED
Vivus Inc
VVUS
| $15.6M | 2.67% |
1,358,746
| – | – |
|
14
Option Care Health
OPCH
$3.63B
| $8.84M | 1.51% |
2,125,000
| – | – |
|
|
15
Accuray
ARAY
$31.9M
| $4.6M | 0.79% |
+1,000,000
| New | +$5.19M |
|
16
Addus HomeCare
ADUS
$2.22B
| – | – |
-174,079
| Closed | -$4.55M |
|
|
17
Bausch Health
BHC
$2.45B
| – | – |
-2,000,000
| Closed | -$49.1M |
|
|
18
Community Health Systems
CYH
$408M
| – | – |
-5,500,000
| Closed | -$63.5M |
|
|
19
Perrigo
PRGO
$2.07B
| – | – |
-500,000
| Closed | -$46.2M |
|
|
AFAM
20
DELISTED
Almost Family Inc
AFAM
| – | – |
-700,000
| Closed | -$25.7M |
|
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North Tide Capital's Q4 2016 Portfolio in Review
As of Q4 2016, North Tide Capital held 20 positions worth $585M, down 36% from $919M the previous quarter. Its ten largest holdings account for 89% of the portfolio.
North Tide Capital withdrew a net $267M in Q4 2016, closing 5 positions and reducing 5 holdings. Its most notable exit was Community Health Systems, an estimated $63.5M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 85% of assets, up from 84% a quarter earlier, followed by Consumer Staples and Consumer Discretionary.
Against the trend, North Tide Capital opened a new position in Impax Laboratories, Inc. worth $26.5M.
- North Tide Capital's largest Q4 2016 buy was Impax Laboratories, Inc.: 2,000,000 shares worth $26.5M.
- North Tide Capital added most to Myriad Genetics in Q4 2016, an estimated $2.71M increase.
- North Tide Capital's biggest Q4 2016 reduction was Viatris, cutting an estimated $46.4M.
- North Tide Capital fully exited Community Health Systems in Q4 2016, selling an estimated $63.5M.
- North Tide Capital's ten largest holdings make up 89% of its $585M portfolio in Q4 2016.
- North Tide Capital opened 3 new positions and closed 5 in Q4 2016.
- North Tide Capital's portfolio value fell 36% quarter-over-quarter to $585M.
Based on North Tide Capital's 13F filing for Q4 2016, filed 14 Feb 2017.