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RCA
Restructuring Capital Associates Portfolio holdings
AUM
$115M
1-Year Est. Return
20.18%
This Fund
S&P 500
This Quarter
Est. Return
-6.29%
1 Year Est. Return
+20.18%
3 Year Est. Return
+71.17%
5 Year Est. Return
+30.85%
10 Year Est. Return
–
AUM
$137M
AUM Growth
-$38.4M
(-22%)
Cap. Flow
-$29.9M
Cap. Flow
% of AUM
-21.9%
Top 10 Holdings %
Top 10 Hldgs %
96%
Holding
22
New
2
Increased
5
Reduced
7
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco Senior Income Trust
VVR
|
+$8.05M |
| 2 |
CHMT
Chemtura Corporation
CHMT
|
+$7.35M |
| 3 |
EFR
Eaton Vance Senior Floating-Rate Fund
EFR
|
+$6.46M |
| 4 |
TPCO
Tribune Publishing Company Common Stock
TPCO
|
+$2.95M |
| 5 |
Nuveen Floating Rate Income Fund
JFR
|
+$2.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TGNA
TEGNA Inc
TGNA
|
+$15.9M |
| 2 |
Rayonier
RYN
|
+$13.4M |
| 3 |
Transocean
RIG
|
+$7.08M |
| 4 |
General Motors
GM
|
+$6.97M |
| 5 |
DXM
DEX MEDIA INC NEW COM STK (DE)
DXM
|
+$3.46M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 16.4% |
| 2 | Energy | 10.36% |
| 3 | Materials | 5.78% |
| 4 | Consumer Discretionary | 2.19% |
| 5 | Technology | 0.44% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
RFP
1
DELISTED
Resolute Forest Products Inc.
RFP
| $26.4M | 19.36% |
1,689,939
-50,000
| -3% | -$843K |
|
|
2
Nuveen Floating Rate Income Fund
JFR
$1.23B
| $24.2M | 17.76% |
2,147,423
+239,241
| +13% | +$2.8M |
|
3
News Corp Class A
NWSA
$15.2B
| $18.3M | 13.41% |
1,119,737
-167,800
| -13% | -$2.95M |
|
|
4
Invesco Senior Income Trust
VVR
$459M
| $14.6M | 10.67% |
3,065,264
+1,655,611
| +117% | +$8.05M |
|
|
HES
5
DELISTED
Hess
HES
| $14.1M | 10.36% |
150,000
-22,355
| -13% | -$2.21M |
|
|
EFR
6
Eaton Vance Senior Floating-Rate Fund
EFR
$314M
| $13.1M | 9.63% |
902,070
+442,098
| +96% | +$6.46M |
|
|
CHMT
7
DELISTED
Chemtura Corporation
CHMT
| $7.89M | 5.78% |
338,080
+296,580
| +715% | +$7.35M |
|
|
EFT
8
Eaton Vance Floating-Rate Income Trust
EFT
$283M
| $7.47M | 5.47% |
519,211
-116,195
| -18% | -$1.73M |
|
|
TPCO
9
DELISTED
Tribune Publishing Company Common Stock
TPCO
| $2.94M | 2.16% |
+145,875
| New | +$2.95M |
|
|
10
General Motors
GM
$80B
| $1.92M | 1.4% |
60,000
-200,000
| -77% | -$6.97M |
|
|
DXM
11
DELISTED
DEX MEDIA INC NEW COM STK (DE)
DXM
| $1.8M | 1.32% |
187,857
-292,455
| -61% | -$3.46M |
|
|
FRP
12
DELISTED
Fairpoint Communications, Inc.
FRP
| $1.14M | 0.83% |
75,000
| – | – |
|
|
XRM
13
DELISTED
Xerium Technologies Inc (new)
XRM
| $1.08M | 0.79% |
73,620
| – | – |
|
|
CKP
14
DELISTED
CHECKPOINT SYSTEMS INC
CKP
| $599K | 0.44% |
49,012
+36,500
| +292% | +$483K |
|
|
ORIG
15
DELISTED
Ocean Rig UDW Inc. Class A Common Shares
ORIG
| $438K | 0.32% |
3
-16
| -84% | -$2.64M |
|
16
Green Plains
GPRE
$1.21B
| – | – |
-18,000
| Closed | -$592K |
|
|
17
Transocean
RIG
$5.62B
| – | – |
-157,300
| Closed | -$7.08M |
|
|
18
Rayonier
RYN
$6.43B
| – | – |
-415,658
| Closed | -$13.4M |
|
19
Sinclair Inc
SBGI
$994M
| – | – |
-13,000
| Closed | -$452K |
|
|
TGNA
20
DELISTED
TEGNA Inc
TGNA
| – | – |
-969,427
| Closed | -$15.9M |
|
|
WLB
21
DELISTED
Westmoreland Coal Company
WLB
| – | – |
-5,331
| Closed | -$193K |
|
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Restructuring Capital Associates's Q3 2014 Portfolio in Review
As of Q3 2014, Restructuring Capital Associates held 22 positions worth $137M, down 22% from $175M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Restructuring Capital Associates withdrew a net $29.9M in Q3 2014, closing 6 positions and reducing 7 holdings. Its most notable exit was TEGNA Inc, an estimated $15.9M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 16% of assets, down from 23% a quarter earlier, followed by Energy and Materials.
Against the trend, Restructuring Capital Associates opened a new position in Tribune Publishing Company Common Stock worth $2.94M.
- Restructuring Capital Associates's largest Q3 2014 buy was Tribune Publishing Company Common Stock: 145,875 shares worth $2.94M.
- Restructuring Capital Associates added most to Invesco Senior Income Trust in Q3 2014, an estimated $8.05M increase.
- Restructuring Capital Associates's biggest Q3 2014 reduction was General Motors, cutting an estimated $6.97M.
- Restructuring Capital Associates fully exited TEGNA Inc in Q3 2014, selling an estimated $15.9M.
- Restructuring Capital Associates's ten largest holdings make up 96% of its $137M portfolio in Q3 2014.
- Restructuring Capital Associates opened 2 new positions and closed 6 in Q3 2014.
- Restructuring Capital Associates's portfolio value fell 22% quarter-over-quarter to $137M.
Based on Restructuring Capital Associates's 13F filing for Q3 2014, filed 13 Nov 2014.