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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
+2.58%
1 Year Est. Return
-9.28%
3 Year Est. Return
+69.22%
5 Year Est. Return
+12.27%
10 Year Est. Return
–
AUM
$46.3M
AUM Growth
-$52.6M
(-53%)
Cap. Flow
-$42.7M
Cap. Flow
% of AUM
-92.23%
Top 10 Holdings %
Top 10 Hldgs %
96.26%
Holding
13
New
3
Increased
3
Reduced
4
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Motorcar Parts of America
MPAA
|
+$3.24M |
| 2 |
National CineMedia
NCMI
|
+$2.66M |
| 3 |
AMAG
AMAG Pharmaceuticals
AMAG
|
+$1.86M |
| 4 |
Onto Innovation
ONTO
|
+$546K |
| 5 |
ARRS
ARRIS International plc Ordinary Shares
ARRS
|
+$120K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AIRM
Air Methods Corp
AIRM
|
+$48.4M |
| 2 |
Calix
CALX
|
+$952K |
| 3 |
OCLR
Oclaro Inc.
OCLR
|
+$723K |
| 4 |
RTEC
Rudolph Technologies Inc
RTEC
|
+$572K |
| 5 |
Lumentum
LITE
|
+$551K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 45.49% |
| 2 | Healthcare | 30.41% |
| 3 | Financials | 12.79% |
| 4 | Consumer Discretionary | 6.75% |
| 5 | Communication Services | 4.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CUTR
1
DELISTED
Cutera, Inc.
CUTR
| $12.4M | 26.67% |
477,031
| – | – |
|
|
ITG
2
DELISTED
Investment Technology Group Inc
ITG
| $5.92M | 12.79% |
278,872
+4,023
| +1% | +$82.1K |
|
|
3
Onto Innovation
ONTO
$17.9B
| $5.42M | 11.7% |
214,372
+19,348
| +10% | +$546K |
|
|
ARRS
4
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $4.21M | 9.08% |
150,078
+4,366
| +3% | +$120K |
|
|
RTEC
5
DELISTED
Rudolph Technologies Inc
RTEC
| $4.17M | 9.01% |
182,658
-24,004
| -12% | -$572K |
|
|
6
Motorcar Parts of America
MPAA
$217M
| $3.13M | 6.75% |
+110,788
| New | +$3.24M |
|
|
7
Calix
CALX
$2.37B
| $2.88M | 6.23% |
421,056
-140,399
| -25% | -$952K |
|
|
OCLR
8
DELISTED
Oclaro Inc.
OCLR
| $2.66M | 5.74% |
284,558
-79,897
| -22% | -$723K |
|
|
9
National CineMedia
NCMI
$235M
| $2.11M | 4.56% |
+28,448
| New | +$2.66M |
|
|
10
Lumentum
LITE
$85.8B
| $1.73M | 3.74% |
30,362
-10,282
| -25% | -$551K |
|
|
AMAG
11
DELISTED
AMAG Pharmaceuticals
AMAG
| $1.73M | 3.74% |
+94,109
| New | +$1.86M |
|
|
AIRM
12
CALL
DELISTED
Air Methods Corp
AIRM
| – | – |
-250,400
| Closed | -$10.8M |
|
|
AIRM
13
DELISTED
Air Methods Corp
AIRM
| – | – |
-1,126,415
| Closed | -$48.4M |
|
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Voce Capital Management's Q2 2017 Portfolio in Review
As of Q2 2017, Voce Capital Management held 13 positions worth $46.3M, down 53% from $98.9M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Voce Capital Management withdrew a net $42.7M in Q2 2017, closing 2 positions and reducing 4 holdings. Its most notable exit was Air Methods Corp, an estimated $48.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 45% of assets, down from 73% a quarter earlier, followed by Healthcare and Financials.
Against the trend, Voce Capital Management opened a new position in Motorcar Parts of America worth $3.13M.
- Voce Capital Management's largest Q2 2017 buy was Motorcar Parts of America: 110,788 shares worth $3.13M.
- Voce Capital Management added most to Onto Innovation in Q2 2017, an estimated $546K increase.
- Voce Capital Management's biggest Q2 2017 reduction was Calix, cutting an estimated $952K.
- Voce Capital Management fully exited Air Methods Corp in Q2 2017, selling an estimated $48.4M.
- Voce Capital Management's ten largest holdings make up 96% of its $46.3M portfolio in Q2 2017.
- Voce Capital Management opened 3 new positions and closed 2 in Q2 2017.
- Voce Capital Management's portfolio value fell 53% quarter-over-quarter to $46.3M.
Based on Voce Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.