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RCA
Restructuring Capital Associates Portfolio holdings
AUM
$115M
Turnover
44.44%
1-Year Est. Return
20.18%
This Fund
S&P 500
This Quarter Est. Return
+1.83%
1 Year Est. Return
+20.18%
3 Year Est. Return
+71.17%
5 Year Est. Return
+30.85%
10 Year Est. Return
–
AUM
$143M
AUM Growth
-$33.8M
(-19%)
Cap. Flow
-$36.4M
Cap. Flow % of AUM
Cap. Flow %
-25.41%
Top 10 Holdings %
Top 10 Hldgs %
96.48%
Holding
17
New
–
Increased
5
Reduced
6
Closed
2
Avg Time Held
1.1
years
Top 10 Avg Time Held
0.8
years
Top 20 Avg Time Held
1.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nuveen Credit Strategies Income Fund
JQC
|
+$3.59M |
| 2 |
Eaton Vance Floating-Rate Income Trust
EFT
|
+$632K |
| 3 |
Nuveen Floating Rate Income Fund
JFR
|
+$492K |
| 4 |
BlackRock Floating Rate Income Strategies Fund
FRA
|
+$301K |
| 5 |
Eaton Vance Senior Floating-Rate Fund
EFR
|
+$140K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TRCO
TRIBUNE MEDIA COMPANY CLASS A
TRCO
|
+$14.5M |
| 2 |
CHMT
Chemtura Corporation
CHMT
|
+$11.5M |
| 3 |
News Corp Class A
NWSA
|
+$6.48M |
| 4 |
RFP
Resolute Forest Products Inc.
RFP
|
+$4.82M |
| 5 |
VER
VEREIT, Inc.
VER
|
+$3.62M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 55.88% |
| 2 | Communication Services | 24.98% |
| 3 | Materials | 16.35% |
| 4 | Consumer Discretionary | 2.37% |
| 5 | Industrials | 0.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Nuveen Floating Rate Income Fund
JFR
$1.16B
| $25.3M | 17.67% |
2,238,553
+44,514
| +2% | +$492K |
2013 Q3
6 quarters
|
|
|
RFP
2
DELISTED
Resolute Forest Products Inc.
RFP
| $23.4M | 16.35% |
1,357,808
-279,607
| -17% | -$4.82M |
2013 Q2
7 quarters
|
|
|
TRCO
3
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
| $17.5M | 12.25% |
288,534
-235,942
| -45% | -$14.5M |
2014 Q4
1 quarter
|
|
4
Invesco Senior Income Trust
VVR
$442M
| $15.8M | 11.01% |
3,327,826
-46,479
| -1% | -$214K |
2013 Q3
6 quarters
|
|
|
5
Nuveen Credit Strategies Income Fund
JQC
$670M
| $14.5M | 10.12% |
1,602,768
+402,952
| +34% | +$3.59M |
2014 Q4
1 quarter
|
|
|
6
Eaton Vance Floating-Rate Income Trust
EFT
$285M
| $14.1M | 9.85% |
966,935
+44,565
| +5% | +$632K |
2013 Q4
5 quarters
|
|
|
7
News Corp Class A
NWSA
$14.5B
| $11.5M | 8.04% |
719,340
-400,397
| -36% | -$6.48M |
2013 Q3
6 quarters
|
|
|
8
Eaton Vance Senior Floating-Rate Fund
EFR
$302M
| $8.04M | 5.61% |
556,377
+10,000
| +2% | +$140K |
2013 Q4
5 quarters
|
|
|
TPCO
9
DELISTED
Tribune Publishing Company Common Stock
TPCO
| $5.82M | 4.06% |
300,075
| – | – |
2014 Q3
2 quarters
|
|
|
10
BlackRock Floating Rate Income Strategies Fund
FRA
$359M
| $2.19M | 1.53% |
157,716
+22,155
| +16% | +$301K |
2014 Q4
1 quarter
|
|
11
General Motors
GM
$72.5B
| $1.78M | 1.24% |
47,500
| – | – |
2013 Q2
7 quarters
|
|
|
XRM
12
DELISTED
Xerium Technologies Inc (new)
XRM
| $1.62M | 1.13% |
99,620
| – | – |
2013 Q2
7 quarters
|
|
|
FRP
13
DELISTED
Fairpoint Communications, Inc.
FRP
| $913K | 0.64% |
51,848
-23,152
| -31% | -$370K |
2013 Q2
7 quarters
|
|
14
American Airlines Group
AAL
$8.73B
| $607K | 0.42% |
11,500
| – | – |
2014 Q4
1 quarter
|
|
|
VER
15
DELISTED
VEREIT, Inc.
VER
| – | – |
-80,000
| Closed | -$3.62M | – |
|
|
CHMT
16
DELISTED
Chemtura Corporation
CHMT
| – | – |
-466,280
| Closed | -$11.5M | – |
|
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Restructuring Capital Associates's Q1 2015 Portfolio in Review
As of Q1 2015, Restructuring Capital Associates held 17 positions worth $143M, down 19% from $177M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Restructuring Capital Associates withdrew a net $36.4M in Q1 2015, closing 2 positions and reducing 6 holdings. Its most notable exit was Chemtura Corporation, an estimated $11.5M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 56% of assets, up from 41% a quarter earlier, followed by Communication Services and Materials.
Against the trend, Restructuring Capital Associates added an estimated $3.59M to Nuveen Credit Strategies Income Fund.
- Restructuring Capital Associates added most to Nuveen Credit Strategies Income Fund in Q1 2015, an estimated $3.59M increase.
- Restructuring Capital Associates's biggest Q1 2015 reduction was TRIBUNE MEDIA COMPANY CLASS A, cutting an estimated $14.5M.
- Restructuring Capital Associates fully exited Chemtura Corporation in Q1 2015, selling an estimated $11.5M.
- Restructuring Capital Associates's ten largest holdings make up 96% of its $143M portfolio in Q1 2015.
- Restructuring Capital Associates opened 0 new positions and closed 2 in Q1 2015.
- Restructuring Capital Associates's portfolio value fell 19% quarter-over-quarter to $143M.
Based on Restructuring Capital Associates's 13F filing for Q1 2015, filed 15 May 2015.