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VCM
Voce Capital Management Portfolio holdings
AUM
$57.8M
1-Year Est. Return
9.28%
This Fund
S&P 500
This Quarter
Est. Return
-6.75%
1 Year Est. Return
-9.28%
3 Year Est. Return
+69.22%
5 Year Est. Return
+12.27%
10 Year Est. Return
–
AUM
$97.4M
AUM Growth
-$22.6M
(-19%)
Cap. Flow
-$13.2M
Cap. Flow
% of AUM
-13.54%
Top 10 Holdings %
Top 10 Hldgs %
93.03%
Holding
16
New
3
Increased
4
Reduced
2
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Onto Innovation
ONTO
|
+$2.43M |
| 2 |
AIRM
Air Methods Corp
AIRM
|
+$1.24M |
| 3 |
OCLR
Oclaro Inc.
OCLR
|
+$871K |
| 4 |
Lumentum
LITE
|
+$590K |
| 5 |
Calix
CALX
|
+$248K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ITG
Investment Technology Group Inc
ITG
|
+$1.7M |
| 2 |
Green Dot
GDOT
|
+$719K |
| 3 |
ARRS
ARRIS International plc Ordinary Shares
ARRS
|
+$288K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 52.96% |
| 2 | Healthcare | 17.52% |
| 3 | Financials | 7.19% |
| 4 | Communication Services | 3.25% |
| 5 | Consumer Discretionary | 2.3% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AIRM
1
DELISTED
Air Methods Corp
AIRM
| $39.6M | 40.63% |
1,092,377
+32,750
| +3% | +$1.24M |
|
|
ITG
2
DELISTED
Investment Technology Group Inc
ITG
| $12.4M | 12.69% |
559,008
-92,544
| -14% | -$1.7M |
|
|
CUTR
3
DELISTED
Cutera, Inc.
CUTR
| $7.61M | 7.81% |
675,986
| – | – |
|
|
FBRC
4
DELISTED
FBR & Co. Common Stock
FBRC
| $7M | 7.19% |
387,025
| – | – |
|
|
NTUS
5
DELISTED
Natus Medical Inc
NTUS
| $6.71M | 6.89% |
174,541
+4,056
| +2% | +$151K |
|
|
6
Calix
CALX
$2.29B
| $4.18M | 4.3% |
590,116
+35,127
| +6% | +$248K |
|
|
ARRS
7
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $4M | 4.1% |
174,292
-11,762
| -6% | -$288K |
|
|
RTEC
8
DELISTED
Rudolph Technologies Inc
RTEC
| $3.28M | 3.36% |
239,917
+4,400
| +2% | +$55.6K |
|
|
TDAY
9
USA Today Co
TDAY
$1.24B
| $3.16M | 3.25% |
190,093
| – | – |
|
|
10
Onto Innovation
ONTO
$14B
| $2.75M | 2.82% |
+173,586
| New | +$2.43M |
|
11
Accuray
ARAY
$27.5M
| $2.75M | 2.82% |
475,035
| – | – |
|
|
DEST
12
DELISTED
Destination Maternity Corporation
DEST
| $2.24M | 2.3% |
327,412
| – | – |
|
|
OCLR
13
DELISTED
Oclaro Inc.
OCLR
| $1.11M | 1.14% |
+206,273
| New | +$871K |
|
|
14
Lumentum
LITE
$60.3B
| $689K | 0.71% |
+25,556
| New | +$590K |
|
|
15
Green Dot
GDOT
$753M
| – | – |
-43,810
| Closed | -$719K |
|
|
AIRM
16
CALL
DELISTED
Air Methods Corp
AIRM
| – | – |
-383,200
| Closed | -$16.1M |
|
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Voce Capital Management's Q1 2016 Portfolio in Review
As of Q1 2016, Voce Capital Management held 16 positions worth $97.4M, down 19% from $120M the previous quarter. Its ten largest holdings account for 93% of the portfolio.
Voce Capital Management withdrew a net $13.2M in Q1 2016, closing 2 positions and reducing 2 holdings. Its most notable exit was Green Dot, an estimated $719K position sold in full.
By sector, the portfolio is most concentrated in Technology at 53% of assets, up from 43% a quarter earlier, followed by Healthcare and Financials.
Against the trend, Voce Capital Management opened a new position in Onto Innovation worth $2.75M.
- Voce Capital Management's largest Q1 2016 buy was Onto Innovation: 173,586 shares worth $2.75M.
- Voce Capital Management added most to Air Methods Corp in Q1 2016, an estimated $1.24M increase.
- Voce Capital Management's biggest Q1 2016 reduction was Investment Technology Group Inc, cutting an estimated $1.7M.
- Voce Capital Management fully exited Green Dot in Q1 2016, selling an estimated $719K.
- Voce Capital Management's ten largest holdings make up 93% of its $97.4M portfolio in Q1 2016.
- Voce Capital Management opened 3 new positions and closed 2 in Q1 2016.
- Voce Capital Management's portfolio value fell 19% quarter-over-quarter to $97.4M.
Based on Voce Capital Management's 13F filing for Q1 2016, filed 16 May 2016.