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Talkot Capital Portfolio holdings

AUM $73.7M
1-Year Est. Return 8.5%
This Fund
S&P 500
This Quarter Est. Return
+5.85%
1 Year Est. Return
+8.5%
3 Year Est. Return
+13.18%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$147M
AUM Growth
+$28.7M
Cap. Flow
+$22.5M
Cap. Flow %
15.27%
Top 10 Hldgs %
90.65%
Holding
27
New
7
Increased
4
Reduced
6
Closed
9

Top Buys

Rank Stock Value
1
IVR icon
Invesco Mortgage Capital
IVR
+$20.8M
2
NGHC
National General Holdings Corp
NGHC
+$8.18M
3
SRNE
Sorrento Therapeutics, Inc.
SRNE
+$5.25M
4
NMIH icon
NMI Holdings
NMIH
+$3.25M
5
REN
Resolute Energy Corporaton
REN
+$3.11M

Top Sells

Rank Stock Value
1
RSO
Resource Capital Corp.
RSO
+$6.89M
2
HTS
HATTERAS FINANCIAL CORP
HTS
+$6.23M
3
PNX
PHOENIX COMPANIES INC. NEW
PNX
+$5.69M
4
SA
Seabridge Gold
SA
+$2.25M
5
STSI
STAR SCIENTIFIC INC
STSI
+$1.37M

Sector Composition

Rank Sector Weight
1 Financials 35.85%
2 Real Estate 31.92%
3 Healthcare 7.82%
4 Energy 6.44%
5 Materials 1.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IVR icon
1
Invesco Mortgage Capital
IVR
$809M
$25.3M 17.18%
145,720
+121,645
+505% +$20.8M
NGHC
2
DELISTED
National General Holdings Corp
NGHC
$19.9M 13.49%
1,142,000
+536,643
+89% +$8.18M
HTS
3
DELISTED
HATTERAS FINANCIAL CORP
HTS
$16.4M 11.16%
830,000
-314,585
-27% -$6.23M
WD icon
4
Walker & Dunlop
WD
$1.66B
$16.3M 11.06%
1,154,473
-8,642
-0.7% -$132K
NMIH icon
5
NMI Holdings
NMIH
$3.24B
$12.1M 8.2%
1,150,000
+296,922
+35% +$3.25M
DX
6
Dynex Capital
DX
$2.82B
$11.6M 7.84%
435,028
– –
AMPE
7
DELISTED
Ampio Pharmaceuticals Inc.
AMPE
$11.5M 7.82%
4,597
-16
-0.3% -$32.7K
REN
8
DELISTED
Resolute Energy Corporaton
REN
$9.49M 6.44%
219,681
+78,681
+56% +$3.11M
CYS
9
DELISTED
CYS Investments Inc.
CYS
$6.29M 4.27%
697,148
-67,450
-9% -$595K
SRNE
10
DELISTED
Sorrento Therapeutics, Inc.
SRNE
$4.7M 3.19%
+695,809
New +$5.25M
IFT
11
DELISTED
IMPERIAL HLDGS INC COM STK (FL)
IFT
$2.66M 1.81%
390,000
-5,000
-1% -$32.4K
CCS icon
12
Century Communities
CCS
$1.84B
$2.66M 1.8%
+120,000
New +$2.58M
SA
13
Seabridge Gold
SA
$2.67B
$2.65M 1.8%
281,982
-285,071
-50% -$2.25M
GDOT icon
14
Green Dot
GDOT
$758M
$1.9M 1.29%
+100,000
New +$1.85M
GDOT icon
15
PUT
Green Dot
GDOT
$758M
$1.9M 1.29%
+100,000
New +$1.85M
OAKS
16
DELISTED
Five Oaks Investment Corp.
OAKS
$1.22M 0.83%
+107,600
New +$1.26M
TWGP
17
DELISTED
TOWER GROUP INTL LTD COM STK (BERMUDA)
TWGP
$540K 0.37%
+300,000
New +$681K
RCPI
18
DELISTED
ROCK CREEK PHARMACEUTICALS INC COM STK (DE)
RCPI
$250K 0.17%
+16,958
New +$294K
ACRE
19
Ares Commercial Real Estate
ACRE
$251M
– –
-25,000
Closed -$335K
AGNC icon
20
AGNC Investment
AGNC
$12.5B
– –
-62,930
Closed -$1.35M
GDXJ icon
21
VanEck Junior Gold Miners ETF
GDXJ
$6.62B
– –
-8,287
Closed -$300K
IWM icon
22
iShares Russell 2000 ETF
IWM
$81.2B
– –
-10,000
Closed -$1.16M
SAND
23
DELISTED
Sandstorm Gold
SAND
– –
-15,000
Closed -$84K
RSO
24
DELISTED
Resource Capital Corp.
RSO
– –
-309,125
Closed -$6.89M
SGM
25
DELISTED
Stonegate Mortgage Corporation
SGM
– –
-12,511
Closed -$186K
1
2

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Talkot Capital's Q2 2014 Portfolio in Review

As of Q2 2014, Talkot Capital held 27 positions worth $147M, up 24% from $119M the previous quarter. Its ten largest holdings account for 91% of the portfolio.

Talkot Capital deployed $22.5M of net new capital in Q2 2014, opening 7 new positions and adding to 4 existing holdings. Its largest new stake was Sorrento Therapeutics, Inc.: 695,809 shares worth $4.7M.

By sector, the portfolio is most concentrated in Financials at 36% of assets, down from 38% a quarter earlier, followed by Real Estate and Healthcare.

On the sell side, the largest reduction was HATTERAS FINANCIAL CORP, an estimated $6.23M trimmed.

  • Talkot Capital's largest Q2 2014 buy was Sorrento Therapeutics, Inc.: 695,809 shares worth $4.7M.
  • Talkot Capital added most to Invesco Mortgage Capital in Q2 2014, an estimated $20.8M increase.
  • Talkot Capital's biggest Q2 2014 reduction was HATTERAS FINANCIAL CORP, cutting an estimated $6.23M.
  • Talkot Capital fully exited Resource Capital Corp. in Q2 2014, selling an estimated $6.89M.
  • Talkot Capital's ten largest holdings make up 91% of its $147M portfolio in Q2 2014.
  • Talkot Capital opened 7 new positions and closed 9 in Q2 2014.
  • Talkot Capital's portfolio value rose 24% quarter-over-quarter to $147M.

Based on Talkot Capital's 13F filing for Q2 2014, filed 14 Aug 2014.