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TCM
Tegean Capital Management Portfolio holdings
AUM
$82.1M
1-Year Est. Return
12.91%
This Fund
S&P 500
This Quarter
Est. Return
-21.68%
1 Year Est. Return
+12.91%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$103M
AUM Growth
-$110M
(-52%)
Cap. Flow
-$78.9M
Cap. Flow
% of AUM
-76.63%
Top 10 Holdings %
Top 10 Hldgs %
78.37%
Holding
25
New
6
Increased
2
Reduced
10
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Morgan Stanley
MS
|
+$3.27M |
| 2 |
JPMorgan Chase
JPM
|
+$2.66M |
| 3 |
BXE
Bellatrix Exploration Ltd.
BXE
|
+$602K |
| 4 |
Nelnet
NNI
|
+$539K |
| 5 |
Nuveen Preferred & Income Opportunities Fund
JPC
|
+$279K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Goldman Sachs
GS
|
+$22.4M |
| 2 |
Applied Materials
AMAT
|
+$19.1M |
| 3 |
Citigroup
C
|
+$18M |
| 4 |
Capital One
COF
|
+$11.7M |
| 5 |
Assured Guaranty
AGO
|
+$10.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 44.95% |
| 2 | Industrials | 12.93% |
| 3 | Technology | 8.89% |
| 4 | Materials | 3.74% |
| 5 | Energy | 0.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $25M | 24.28% |
+100,000
| New | +$27M |
|
|
2
Assured Guaranty
AGO
$3.78B
| $11.1M | 10.79% |
290,000
-260,000
| -47% | -$10.4M |
|
3
AerCap
AER
$23.9B
| $7.26M | 7.06% |
183,400
+3,400
| +2% | +$170K |
|
|
AL
4
DELISTED
Air Lease Corp
AL
| $6.04M | 5.87% |
200,000
-40,000
| -17% | -$1.53M |
|
|
5
Capital One
COF
$124B
| $5.67M | 5.51% |
75,000
-135,000
| -64% | -$11.7M |
|
6
Micron Technology
MU
$1.04T
| $5.55M | 5.4% |
175,000
-150,000
| -46% | -$5.69M |
|
7
KeyCorp
KEY
$24.3B
| $5.36M | 5.21% |
362,500
-287,500
| -44% | -$5.06M |
|
|
8
Nelnet
NNI
$4.79B
| $5.23M | 5.09% |
100,000
+10,000
| +11% | +$539K |
|
|
9
CALL
Micron Technology
MU
$1.04T
| $4.76M | 4.62% |
+150,000
| New | +$5.69M |
|
|
10
Citigroup
C
$222B
| $4.68M | 4.55% |
90,000
-285,000
| -76% | -$18M |
|
11
Cleveland-Cliffs
CLF
$6.81B
| $3.85M | 3.74% |
500,000
-100,000
| -17% | -$1M |
|
12
Microchip Technology
MCHP
$42.8B
| $3.6M | 3.49% |
100,000
-124,000
| -55% | -$4.38M |
|
13
Huntington Bancshares
HBAN
$35.1B
| $3.58M | 3.47% |
300,000
-175,000
| -37% | -$2.43M |
|
14
MBIA
MBI
$288M
| $3.57M | 3.47% |
400,000
-25,000
| -6% | -$238K |
|
|
15
Morgan Stanley
MS
$337B
| $2.97M | 2.89% |
+75,000
| New | +$3.27M |
|
|
16
JPMorgan Chase
JPM
$939B
| $2.44M | 2.37% |
+25,000
| New | +$2.66M |
|
17
Investcorp Credit Management BDC
ICMB
$11.3M
| $1.65M | 1.6% |
266,049
| – | – |
|
|
BXE
18
DELISTED
Bellatrix Exploration Ltd.
BXE
| $341K | 0.33% |
+738,225
| New | +$602K |
|
|
19
Nuveen Preferred & Income Opportunities Fund
JPC
$2.89B
| $264K | 0.26% |
+31,600
| New | +$279K |
|
20
Ally Financial
ALLY
$13.1B
| – | – |
-200,000
| Closed | -$5.29M |
|
|
21
Applied Materials
AMAT
$426B
| – | – |
-495,200
| Closed | -$19.1M |
|
22
Citizens Financial Group
CFG
$30.4B
| – | – |
-100,000
| Closed | -$3.86M |
|
|
23
Goldman Sachs
GS
$313B
| – | – |
-100,000
| Closed | -$22.4M |
|
24
OFG Bancorp
OFG
$2.21B
| – | – |
-110,000
| Closed | -$1.78M |
|
|
FDC
25
DELISTED
First Data Corporation
FDC
| – | – |
-250,000
| Closed | -$6.12M |
|
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Tegean Capital Management's Q4 2018 Portfolio in Review
As of Q4 2018, Tegean Capital Management held 25 positions worth $103M, down 52% from $213M the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Tegean Capital Management withdrew a net $78.9M in Q4 2018, closing 6 positions and reducing 10 holdings. Its most notable exit was Goldman Sachs, an estimated $22.4M position sold in full.
By sector, the portfolio is most concentrated in Financials at 45% of assets, down from 64% a quarter earlier, followed by Industrials and Technology.
Against the trend, Tegean Capital Management opened a new position in Morgan Stanley worth $2.97M.
- Tegean Capital Management's largest Q4 2018 buy was Morgan Stanley: 75,000 shares worth $2.97M.
- Tegean Capital Management added most to Nelnet in Q4 2018, an estimated $539K increase.
- Tegean Capital Management's biggest Q4 2018 reduction was Citigroup, cutting an estimated $18M.
- Tegean Capital Management fully exited Goldman Sachs in Q4 2018, selling an estimated $22.4M.
- Tegean Capital Management's ten largest holdings make up 78% of its $103M portfolio in Q4 2018.
- Tegean Capital Management opened 6 new positions and closed 6 in Q4 2018.
- Tegean Capital Management's portfolio value fell 52% quarter-over-quarter to $103M.
Based on Tegean Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.