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TSP
Tappan Street Partners Portfolio holdings
AUM
$35.7M
1-Year Est. Return
42.68%
This Fund
S&P 500
This Quarter
Est. Return
+15.02%
1 Year Est. Return
+42.68%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$39.9M
AUM Growth
-$21.5M
(-35%)
Cap. Flow
-$23M
Cap. Flow
% of AUM
-57.72%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
14
New
3
Increased
2
Reduced
5
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CDMO
Avid Bioservices, Inc. Common Stock
CDMO
|
+$3.06M |
| 2 |
HIL
Hill International, Inc. Common Stock
HIL
|
+$2.78M |
| 3 |
HDSN
Hudson Technologies
HDSN
|
+$2.05M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$820K |
| 5 |
CCN
CardConnect Corp.
CCN
|
+$151K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPR
Spirit AeroSystems
SPR
|
+$7.59M |
| 2 |
Babcock & Wilcox
BW
|
+$6.72M |
| 3 |
SPA
Sparton
SPA
|
+$4.91M |
| 4 |
Blue Bird Corp
BLBD
|
+$4.66M |
| 5 |
Adient
ADNT
|
+$3.29M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.05% |
| 2 | Consumer Discretionary | 22.76% |
| 3 | Technology | 14.72% |
| 4 | Industrials | 12.86% |
| 5 | Healthcare | 10.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Adient
ADNT
$1.6B
| $9.08M | 22.76% |
125,000
-50,000
| -29% | -$3.29M |
|
2
Voya Financial
VOYA
$8.94B
| $7.4M | 18.54% |
195,000
-65,000
| -25% | -$2.62M |
|
|
SPA
3
DELISTED
Sparton
SPA
| $5.88M | 14.72% |
280,000
-220,000
| -44% | -$4.91M |
|
|
CDMO
4
DELISTED
Avid Bioservices, Inc. Common Stock
CDMO
| $4.19M | 10.49% |
+914,286
| New | +$3.06M |
|
|
CCN
5
DELISTED
CardConnect Corp.
CCN
| $3.39M | 8.5% |
257,116
+10,985
| +4% | +$151K |
|
|
HDSN
6
Hudson Technologies
HDSN
$267M
| $2.87M | 7.18% |
434,046
+281,779
| +185% | +$2.05M |
|
|
7
Blue Bird Corp
BLBD
$2.41B
| $2.81M | 7.05% |
164,100
-280,000
| -63% | -$4.66M |
|
|
HIL
8
DELISTED
Hill International, Inc. Common Stock
HIL
| $2.32M | 5.81% |
+558,470
| New | +$2.78M |
|
|
SPA
9
CALL
DELISTED
Sparton
SPA
| $1.14M | 2.87% |
54,500
-45,500
| -46% | -$1.01M |
|
|
10
Alphabet (Google) Class C
GOOG
$3.9T
| $830K | 2.08% |
+20,000
| New | +$820K |
|
|
11
Babcock & Wilcox
BW
$1.43B
| – | – |
-40,500
| Closed | -$6.72M |
|
|
SPR
12
DELISTED
Spirit AeroSystems
SPR
| – | – |
-130,000
| Closed | -$7.59M |
|
|
ARIS
13
DELISTED
ARI Network Services, Inc.
ARIS
| – | – |
-87,884
| Closed | -$475K |
|
|
CCNWW
14
DELISTED
CardConnect Corp. Warrants
CCNWW
| – | – |
-203,000
| Closed | -$641K |
|
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Tappan Street Partners's Q1 2017 Portfolio in Review
As of Q1 2017, Tappan Street Partners held 14 positions worth $39.9M, down 35% from $61.4M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Tappan Street Partners withdrew a net $23M in Q1 2017, closing 4 positions and reducing 5 holdings. Its most notable exit was Spirit AeroSystems, an estimated $7.59M position sold in full.
By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 22% a quarter earlier, followed by Consumer Discretionary and Technology.
Against the trend, Tappan Street Partners opened a new position in Avid Bioservices, Inc. Common Stock worth $4.19M.
- Tappan Street Partners's largest Q1 2017 buy was Avid Bioservices, Inc. Common Stock: 914,286 shares worth $4.19M.
- Tappan Street Partners added most to Hudson Technologies in Q1 2017, an estimated $2.05M increase.
- Tappan Street Partners's biggest Q1 2017 reduction was Sparton, cutting an estimated $4.91M.
- Tappan Street Partners fully exited Spirit AeroSystems in Q1 2017, selling an estimated $7.59M.
- Tappan Street Partners's ten largest holdings make up 100% of its $39.9M portfolio in Q1 2017.
- Tappan Street Partners opened 3 new positions and closed 4 in Q1 2017.
- Tappan Street Partners's portfolio value fell 35% quarter-over-quarter to $39.9M.
Based on Tappan Street Partners's 13F filing for Q1 2017, filed 15 May 2017.