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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
-22.93%
1 Year Est. Return
+20.18%
3 Year Est. Return
+71.17%
5 Year Est. Return
+30.85%
10 Year Est. Return
–
AUM
$140M
AUM Growth
+$2.88M
(+2.1%)
Cap. Flow
+$51.1M
Cap. Flow
% of AUM
36.44%
Top 10 Holdings %
Top 10 Hldgs %
84.65%
Holding
18
New
4
Increased
10
Reduced
2
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
United Rentals
URI
|
+$12.2M |
| 2 |
Macy's
M
|
+$8.23M |
| 3 |
Target
TGT
|
+$5.77M |
| 4 |
Pitney Bowes
PBI
|
+$5.14M |
| 5 |
FTR
Frontier Communications Corp.
FTR
|
+$5.08M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Rayonier Advanced Materials
RYAM
|
+$2.87M |
| 2 |
OIBR.C
OI S.A. American Depositary Shares, each representing five shares of common stock
OIBR.C
|
+$686K |
| 3 |
Nuveen Floating Rate Income Fund
JFR
|
+$83.1K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 15.2% |
| 2 | Industrials | 14.83% |
| 3 | Energy | 7.62% |
| 4 | Communication Services | 7.49% |
| 5 | Materials | 4.86% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Nuveen Credit Strategies Income Fund
JQC
$705M
| $28.8M | 20.51% |
3,886,678
+287,080
| +8% | +$2.2M |
|
2
Invesco Senior Income Trust
VVR
$459M
| $23.2M | 16.53% |
5,929,142
+402,677
| +7% | +$1.66M |
|
|
3
Macy's
M
$6.56B
| $11.5M | 8.23% |
387,500
+250,000
| +182% | +$8.23M |
|
|
CRC
4
DELISTED
California Resources Corporation
CRC
| $10.7M | 7.62% |
627,342
+82,837
| +15% | +$2.36M |
|
|
5
United Rentals
URI
$66.5B
| $10.3M | 7.38% |
+100,908
| New | +$12.2M |
|
6
Kohl's
KSS
$2.21B
| $7.3M | 5.2% |
110,000
+36,000
| +49% | +$2.53M |
|
|
7
Pitney Bowes
PBI
$2.46B
| $7.09M | 5.06% |
1,200,496
+713,918
| +147% | +$5.14M |
|
8
Constellium
CSTM
$3.87B
| $6.81M | 4.86% |
974,398
+232,227
| +31% | +$2.07M |
|
9
BlackRock Floating Rate Income Strategies Fund
FRA
$383M
| $6.57M | 4.68% |
551,777
+112,895
| +26% | +$1.45M |
|
|
FTR
10
DELISTED
Frontier Communications Corp.
FTR
| $6.43M | 4.58% |
2,700,000
+1,200,000
| +80% | +$5.08M |
|
|
11
Target
TGT
$65.6B
| $4.96M | 3.53% |
+75,000
| New | +$5.77M |
|
|
12
Nuveen Floating Rate Income Fund
JFR
$1.23B
| $4.54M | 3.24% |
491,640
-8,452
| -2% | -$83.1K |
|
|
OIBR.C
13
DELISTED
OI S.A. American Depositary Shares, each representing five shares of common stock
OIBR.C
| $4.08M | 2.91% |
2,552,522
-256,013
| -9% | -$686K |
|
|
JWN
14
DELISTED
Nordstrom
JWN
| $2.48M | 1.76% |
53,100
| – | – |
|
|
QHC
15
DELISTED
Quorum Health Corporation
QHC
| $2.12M | 1.51% |
732,307
+582,193
| +388% | +$2.44M |
|
16
Delta Air Lines
DAL
$58.3B
| $1.75M | 1.25% |
+35,000
| New | +$1.91M |
|
17
American Airlines Group
AAL
$10.2B
| $1.61M | 1.15% |
+50,000
| New | +$1.74M |
|
|
18
Rayonier Advanced Materials
RYAM
$604M
| – | – |
-155,666
| Closed | -$2.87M |
|
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Restructuring Capital Associates's Q4 2018 Portfolio in Review
As of Q4 2018, Restructuring Capital Associates held 18 positions worth $140M, up 2.1% from $137M the previous quarter. Its ten largest holdings account for 85% of the portfolio.
Restructuring Capital Associates deployed $51.1M of net new capital in Q4 2018, opening 4 new positions and adding to 10 existing holdings. Its largest new stake was United Rentals: 100,908 shares worth $10.3M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 15% of assets, up from 9.8% a quarter earlier, followed by Industrials and Energy.
On the sell side, the largest reduction was OI S.A. American Depositary Shares, each representing five shares of common stock, an estimated $686K trimmed.
- Restructuring Capital Associates's largest Q4 2018 buy was United Rentals: 100,908 shares worth $10.3M.
- Restructuring Capital Associates added most to Macy's in Q4 2018, an estimated $8.23M increase.
- Restructuring Capital Associates's biggest Q4 2018 reduction was OI S.A. American Depositary Shares, each representing five shares of common stock, cutting an estimated $686K.
- Restructuring Capital Associates fully exited Rayonier Advanced Materials in Q4 2018, selling an estimated $2.87M.
- Restructuring Capital Associates's ten largest holdings make up 85% of its $140M portfolio in Q4 2018.
- Restructuring Capital Associates opened 4 new positions and closed 1 in Q4 2018.
- Restructuring Capital Associates's portfolio value rose 2.1% quarter-over-quarter to $140M.
Based on Restructuring Capital Associates's 13F filing for Q4 2018, filed 14 Feb 2019.