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RCM
Roystone Capital Management Portfolio holdings
AUM
$590M
1-Year Est. Return
11.49%
This Fund
S&P 500
This Quarter
Est. Return
-17.17%
1 Year Est. Return
-11.49%
3 Year Est. Return
+11.94%
5 Year Est. Return
+37.74%
10 Year Est. Return
–
AUM
$590M
AUM Growth
-$613M
(-51%)
Cap. Flow
-$477M
Cap. Flow
% of AUM
-80.83%
Top 10 Holdings %
Top 10 Hldgs %
66%
Holding
33
New
5
Increased
5
Reduced
11
Closed
11
Avg Time Held
4
quarters
Top 10 Avg Time Held
2.3
quarters
Top 20 Avg Time Held
2.8
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cigna
CI
|
+$30.5M |
| 2 |
CVS Health
CVS
|
+$22.7M |
| 3 |
KraneShares CSI China Internet ETF
KWEB
|
+$19.5M |
| 4 |
Centene
CNC
|
+$18.5M |
| 5 |
Carnival Corporation Ltd
CCL
|
+$16.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$110M |
| 2 |
ESRX
Express Scripts Holding Company
ESRX
|
+$84M |
| 3 |
EVHC
Envision Healthcare Holdings Inc
EVHC
|
+$64.4M |
| 4 |
Baidu
BIDU
|
+$50.7M |
| 5 |
SHPG
Shire pic
SHPG
|
+$46.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.81% |
| 2 | Consumer Discretionary | 23.79% |
| 3 | Healthcare | 16.21% |
| 4 | Financials | 10.92% |
| 5 | Utilities | 10.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
NRG Energy
NRG
$22.5B
| $63.2M | 10.7% |
1,595,050
-621,800
| -28% | -$23.8M |
2017 Q2
6 quarters
|
|
|
2
Cigna
CI
$74.7B
| $51.8M | 8.78% |
272,928
+146,030
| +115% | +$30.5M |
2018 Q3
1 quarter
|
|
3
Alibaba
BABA
$276B
| $44M | 7.45% |
320,800
+82,350
| +35% | +$12.2M |
2018 Q3
1 quarter
|
|
4
Bread Financial
BFH
$3.93B
| $36.5M | 6.19% |
305,106
-57,512
| -16% | -$9.02M |
2017 Q1
7 quarters
|
|
5
NXP Semiconductors
NXPI
$57.1B
| $35M | 5.93% |
477,400
+65,600
| +16% | +$5.19M |
2018 Q3
1 quarter
|
|
6
DXC Technology
DXC
$2.04B
| $34M | 5.77% |
640,300
+219,600
| +52% | +$15.2M |
2017 Q2
6 quarters
|
|
7
Marvell Technology
MRVL
$242B
| $33.1M | 5.6% |
2,043,561
-2,098,000
| -51% | -$34.8M |
2016 Q1
11 quarters
|
|
8
Norwegian Cruise Line
NCLH
$7.03B
| $32.2M | 5.45% |
758,700
-306,000
| -29% | -$14.8M |
2013 Q4
20 quarters
|
|
|
CTXS
9
DELISTED
Citrix Systems Inc
CTXS
| $30.1M | 5.1% |
293,900
| – | – |
2017 Q3
5 quarters
|
|
10
Comcast
CMCSA
$74.1B
| $29.7M | 5.04% |
873,339
-861,300
| -50% | -$31.4M |
2017 Q4
4 quarters
|
|
11
Whirlpool
WHR
$1.91B
| $28.9M | 4.89% |
270,300
-112,000
| -29% | -$12.7M |
2018 Q1
3 quarters
|
|
12
Synchrony
SYF
$23.9B
| $27.9M | 4.73% |
1,190,100
-19,100
| -2% | -$517K |
2017 Q1
7 quarters
|
|
13
Saic
SAIC
$5.59B
| $26.8M | 4.55% |
421,300
+76,000
| +22% | +$5.29M |
2018 Q3
1 quarter
|
|
14
Royal Caribbean
RCL
$75.3B
| $21.1M | 3.57% |
215,500
-40,900
| -16% | -$4.48M |
2018 Q1
3 quarters
|
|
|
15
CVS Health
CVS
$112B
| $19.9M | 3.37% |
+303,699
| New | +$22.7M |
2018 Q4
0 quarters
|
|
|
16
KraneShares CSI China Internet ETF
KWEB
$4.5B
| $17.3M | 2.94% |
+462,100
| New | +$19.5M |
2018 Q4
0 quarters
|
|
|
17
Centene
CNC
$34B
| $15.9M | 2.7% |
+276,600
| New | +$18.5M |
2018 Q4
0 quarters
|
|
|
18
Carnival Corporation Ltd
CCL
$35.9B
| $14.4M | 2.43% |
+291,300
| New | +$16.7M |
2018 Q4
0 quarters
|
|
19
JELD-WEN Holding
JELD
$120M
| $8.44M | 1.43% |
593,600
-56,500
| -9% | -$1M |
2018 Q2
2 quarters
|
|
20
DaVita
DVA
$11.6B
| $8.03M | 1.36% |
+156,000
| New | +$9.99M |
2018 Q4
0 quarters
|
|
21
AerCap
AER
$22.9B
| $6.88M | 1.17% |
173,800
-17,200
| -9% | -$861K |
2017 Q1
7 quarters
|
|
22
Microchip Technology
MCHP
$40.3B
| $5.13M | 0.87% |
142,800
-126,800
| -47% | -$4.48M |
2018 Q1
3 quarters
|
|
23
Broadcom
AVGO
$1.71T
| – | – |
-1,290,000
| Closed | -$31.8M | – |
|
|
24
Baidu
BIDU
$28.5B
| – | – |
-221,500
| Closed | -$50.7M | – |
|
25
LKQ Corp
LKQ
$5.61B
| – | – |
-348,400
| Closed | -$11M | – |
|
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Roystone Capital Management's Q4 2018 Portfolio in Review
As of Q4 2018, Roystone Capital Management held 33 positions worth $590M, down 51% from $1.2B the previous quarter. Its ten largest holdings account for 66% of the portfolio.
Roystone Capital Management withdrew a net $477M in Q4 2018, closing 11 positions and reducing 11 holdings. Its most notable exit was Aetna Inc, an estimated $110M position sold in full.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Roystone Capital Management opened a new position in CVS Health worth $19.9M.
- Roystone Capital Management's largest Q4 2018 buy was CVS Health: 303,699 shares worth $19.9M.
- Roystone Capital Management added most to Cigna in Q4 2018, an estimated $30.5M increase.
- Roystone Capital Management's biggest Q4 2018 reduction was Marvell Technology, cutting an estimated $34.8M.
- Roystone Capital Management fully exited Aetna Inc in Q4 2018, selling an estimated $110M.
- Roystone Capital Management's ten largest holdings make up 66% of its $590M portfolio in Q4 2018.
- Roystone Capital Management opened 5 new positions and closed 11 in Q4 2018.
- Roystone Capital Management's portfolio value fell 51% quarter-over-quarter to $590M.
Based on Roystone Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.