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NTCM
Nut Tree Capital Management Portfolio holdings
AUM
$245M
1-Year Est. Return
34.1%
This Fund
S&P 500
This Quarter
Est. Return
+17.1%
1 Year Est. Return
+34.1%
3 Year Est. Return
+81.67%
5 Year Est. Return
+42.68%
10 Year Est. Return
–
AUM
$220M
AUM Growth
-$107M
(-33%)
Cap. Flow
-$132M
Cap. Flow
% of AUM
-60.3%
Top 10 Holdings %
Top 10 Hldgs %
99.42%
Holding
15
New
1
Increased
3
Reduced
1
Closed
4
Top Buys
| 1 |
PG&E
PCG
|
+$8.57M |
| 2 |
NGHC
National General Holdings Corp
NGHC
|
+$4.8M |
| 3 |
I
INTELSAT S. A.
I
|
+$3.93M |
| 4 |
Laureate Education
LAUR
|
+$2.8M |
Top Sells
| 1 |
AABA
Altaba Inc
AABA
|
+$9.71M |
| 2 |
Constellium
CSTM
|
+$8.75M |
| 3 |
Range Resources
RRC
|
+$1.39M |
Sector Composition
| 1 | Healthcare | 19.06% |
| 2 | Materials | 18.31% |
| 3 | Industrials | 17.49% |
| 4 | Utilities | 14.85% |
| 5 | Financials | 13.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Tenet Healthcare
THC
$17.2B
| $41.8M | 19.06% |
1,100,000
| – | – |
|
|
2
Constellium
CSTM
$3.88B
| $40.2M | 18.31% |
3,000,000
-634,296
| -17% | -$8.75M |
|
3
Herc Holdings
HRI
$5.11B
| $36.7M | 16.72% |
750,000
| – | – |
|
|
4
PG&E
PCG
$38.6B
| $32.6M | 14.85% |
3,000,000
+1,000,000
| +50% | +$8.57M |
|
|
NGHC
5
DELISTED
National General Holdings Corp
NGHC
| $30.3M | 13.8% |
1,371,314
+219,602
| +19% | +$4.8M |
|
|
6
Laureate Education
LAUR
$5.16B
| $29M | 13.2% |
1,645,000
+170,000
| +12% | +$2.8M |
|
|
DCH
7
Dauch Corp
DCH
$1.3B
| $2.5M | 1.14% |
232,000
| – | – |
|
|
I
8
DELISTED
INTELSAT S. A.
I
| $1.76M | 0.8% |
+250,000
| New | +$3.93M |
|
|
NM
9
DELISTED
Navios Maritime Holdings Inc.
NM
| $1.7M | 0.77% |
379,616
| – | – |
|
|
JCP
10
DELISTED
J.C. Penney Company, Inc.
JCP
| $1.68M | 0.77% |
1,500,000
| – | – |
|
|
CLPR
11
Clipper Realty
CLPR
$46.9M
| $1.27M | 0.58% |
120,179
| – | – |
|
12
PUT
iShares Russell 2000 ETF
IWM
$82.6B
| – | – |
-430,000
| Closed | -$65.1M |
|
|
13
Range Resources
RRC
$8.54B
| – | – |
-365,000
| Closed | -$1.39M |
|
14
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$782B
| – | – |
-227,600
| Closed | -$67.5M |
|
|
AABA
15
DELISTED
Altaba Inc
AABA
| – | – |
-498,241
| Closed | -$9.71M |
|
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Nut Tree Capital Management's Q4 2019 Portfolio in Review
As of Q4 2019, Nut Tree Capital Management held 15 positions worth $220M, down 33% from $326M the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Nut Tree Capital Management withdrew a net $132M in Q4 2019, closing 4 positions and reducing 1 holding. Its most notable exit was Altaba Inc, an estimated $9.71M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 19% of assets, up from 7.5% a quarter earlier, followed by Materials and Industrials.
Against the trend, Nut Tree Capital Management opened a new position in INTELSAT S. A. worth $1.76M.
- Nut Tree Capital Management's largest Q4 2019 buy was INTELSAT S. A.: 250,000 shares worth $1.76M.
- Nut Tree Capital Management added most to PG&E in Q4 2019, an estimated $8.57M increase.
- Nut Tree Capital Management's biggest Q4 2019 reduction was Constellium, cutting an estimated $8.75M.
- Nut Tree Capital Management fully exited Altaba Inc in Q4 2019, selling an estimated $9.71M.
- Nut Tree Capital Management's ten largest holdings make up 99% of its $220M portfolio in Q4 2019.
- Nut Tree Capital Management opened 1 new position and closed 4 in Q4 2019.
- Nut Tree Capital Management's portfolio value fell 33% quarter-over-quarter to $220M.
Based on Nut Tree Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.