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Shoals Capital Management Portfolio holdings

AUM $21.5M
1-Year Est. Return 38.8%
This Fund
S&P 500
This Quarter Est. Return
+1.31%
1 Year Est. Return
-38.8%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$102M
AUM Growth
+$29.5M
Cap. Flow
+$28M
Cap. Flow %
27.38%
Top 10 Hldgs %
96.13%
Holding
22
New
9
Increased
3
Reduced
2
Closed
7

Top Buys

1
CONE
CyrusOne Inc Common Stock
CONE
+$11M
2
LXP icon
LXP Industrial Trust
LXP
+$8.13M
3
OCSL icon
Oaktree Specialty Lending
OCSL
+$7.9M
4
FBP icon
First Bancorp
FBP
+$7.83M
5
HWC icon
Hancock Whitney
HWC
+$7.5M

Top Sells

1
RESI
Front Yard Residential Corporation Common Stock
RESI
+$10.4M
2
WLH
WILLIAM LYON HOMES
WLH
+$8.65M
3
VER
VEREIT, Inc.
VER
+$7.82M
4
LPT
Liberty Property Trust
LPT
+$6.93M
5
OPRT icon
Oportun Financial
OPRT
+$1.89M

Sector Composition

1 Real Estate 37.92%
2 Financials 36.37%
3 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JCAP
1
DELISTED
Jernigan Capital, Inc.
JCAP
$21.1M 20.6%
1,100,000
+300,000
+38% +$5.52M
CONE
2
DELISTED
CyrusOne Inc Common Stock
CONE
$10.5M 10.24%
+160,000
New +$11M
BPOP icon
3
Popular Inc
BPOP
$11.1B
$9.99M 9.77%
170,000
+45,000
+36% +$2.51M
RPT
4
Rithm Property Trust
RPT
$84.6M
$9.63M 9.42%
112,126
+51,750
+86% +$4.6M
OCSL icon
5
Oaktree Specialty Lending
OCSL
$1.07B
$8.22M 8.04%
+501,672
New +$7.9M
HWC icon
6
Hancock Whitney
HWC
$6.37B
$8.12M 7.94%
+185,000
New +$7.5M
LXP icon
7
LXP Industrial Trust
LXP
$3.45B
$8.07M 7.9%
+152,000
New +$8.13M
FBP icon
8
First Bancorp
FBP
$4.24B
$7.94M 7.77%
+750,000
New +$7.83M
QTS.PRB
9
DELISTED
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$6.46M 6.32%
50,000
– –
COWN
10
DELISTED
Cowen Inc. Class A Common Stock
COWN
$2.9M 2.84%
+184,103
New +$2.76M
HYG icon
11
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.9B
$375K 0.37%
10,000
-16,000
-62% -$1.39M
MDLY
12
DELISTED
Medley Management Inc
MDLY
$332K 0.32%
+11,200
New +$352K
KRE icon
13
PUT
State Street SPDR S&P Regional Banking ETF
KRE
$4.97B
$236K 0.23%
+16,250
New +$901K
IWM icon
14
PUT
iShares Russell 2000 ETF
IWM
$82.2B
$108K 0.11%
6,750
-6,250
-48% -$988K
OPRT icon
15
Oportun Financial
OPRT
$276M
– –
-116,568
Closed -$1.89M
XLF icon
16
PUT
State Street Financial Select Sector SPDR ETF
XLF
$54.8B
– –
-75,000
Closed -$1.16M
VER
17
CALL
DELISTED
VEREIT, Inc.
VER
– –
-620
Closed -$39K
VER
18
DELISTED
VEREIT, Inc.
VER
– –
-160,000
Closed -$7.82M
LPT
19
DELISTED
Liberty Property Trust
LPT
– –
-135,000
Closed -$6.93M
WLH
20
DELISTED
WILLIAM LYON HOMES
WLH
– –
-425,000
Closed -$8.65M
RESI
21
DELISTED
Front Yard Residential Corporation Common Stock
RESI
– –
-902,232
Closed -$10.4M

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CC
Caldera Capital Dallas, Texas $18.2M AUM 9.11% 1-Year Est. Return
ABC
Anchor Bolt Capital Chicago, Illinois $18M AUM 26.14% 1-Year Est. Return
GP
Gresham Partners Chicago, Illinois $26.2M AUM 18.05% 1-Year Est. Return
JA
JVL Advisors Houston, Texas $14.6M AUM 82.81% 1-Year Est. Return
BIM
Beach Investment Management West Conshohocken, Pennsylvania $28.8M AUM 11.57% 1-Year Est. Return
SC
Salzman & Co Pittsford, New York $29.7M AUM 12.12% 1-Year Est. Return
QCMA
Quad Capital Management Advisors New York $31.4M AUM 22.55% 1-Year Est. Return
AIM
Act II Management New York $33.8M AUM 8.86% 1-Year Est. Return

Shoals Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Shoals Capital Management held 22 positions worth $102M, up 41% from $72.7M the previous quarter. Its ten largest holdings account for 96% of the portfolio.

Shoals Capital Management deployed $28M of net new capital in Q4 2019, opening 9 new positions and adding to 3 existing holdings. Its largest new stake was CyrusOne Inc Common Stock: 160,000 shares worth $10.5M.

By sector, the portfolio is most concentrated in Real Estate at 38% of assets, down from 43% a quarter earlier, followed by Financials and Consumer Discretionary.

On the sell side, the most notable exit was Front Yard Residential Corporation Common Stock, an estimated $10.4M sold.

  • Shoals Capital Management's largest Q4 2019 buy was CyrusOne Inc Common Stock: 160,000 shares worth $10.5M.
  • Shoals Capital Management added most to Jernigan Capital, Inc. in Q4 2019, an estimated $5.52M increase.
  • Shoals Capital Management fully exited Front Yard Residential Corporation Common Stock in Q4 2019, selling an estimated $10.4M.
  • Shoals Capital Management's ten largest holdings make up 96% of its $102M portfolio in Q4 2019.
  • Shoals Capital Management opened 9 new positions and closed 7 in Q4 2019.
  • Shoals Capital Management's portfolio value rose 41% quarter-over-quarter to $102M.

Based on Shoals Capital Management's 13F filing for Q4 2019, filed 12 Feb 2020.