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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
+18.83%
1 Year Est. Return
-9.28%
3 Year Est. Return
+69.22%
5 Year Est. Return
+12.27%
10 Year Est. Return
–
AUM
$75.3M
AUM Growth
+$28.9M
(+62%)
Cap. Flow
+$19.4M
Cap. Flow
% of AUM
25.73%
Top 10 Holdings %
Top 10 Hldgs %
90.41%
Holding
14
New
3
Increased
4
Reduced
4
Closed
–
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ALOG
Analogic Corp
ALOG
|
+$13.2M |
| 2 |
Calix
CALX
|
+$4.7M |
| 3 |
Kratos Defense & Security Solutions
KTOS
|
+$2.09M |
| 4 |
IMAX
IMAX
|
+$1.27M |
| 5 |
AMAG
AMAG Pharmaceuticals
AMAG
|
+$311K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ITG
Investment Technology Group Inc
ITG
|
+$927K |
| 2 |
Onto Innovation
ONTO
|
+$697K |
| 3 |
RTEC
Rudolph Technologies Inc
RTEC
|
+$378K |
| 4 |
OCLR
Oclaro Inc.
OCLR
|
+$328K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.4% |
| 2 | Healthcare | 26.2% |
| 3 | Communication Services | 4.69% |
| 4 | Consumer Discretionary | 4.38% |
| 5 | Industrials | 2.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CUTR
1
DELISTED
Cutera, Inc.
CUTR
| $19.7M | 26.2% |
477,031
| – | – |
|
|
ALOG
2
DELISTED
Analogic Corp
ALOG
| $15.1M | 20.09% |
+180,542
| New | +$13.2M |
|
|
3
Calix
CALX
$2.29B
| $6.29M | 8.35% |
1,244,982
+823,926
| +196% | +$4.7M |
|
|
4
Onto Innovation
ONTO
$14B
| $5.41M | 7.19% |
187,888
-26,484
| -12% | -$697K |
|
|
ITG
5
DELISTED
Investment Technology Group Inc
ITG
| $5.19M | 6.9% |
234,552
-44,320
| -16% | -$927K |
|
|
RTEC
6
DELISTED
Rudolph Technologies Inc
RTEC
| $4.38M | 5.82% |
166,486
-16,172
| -9% | -$378K |
|
|
ARRS
7
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $4.28M | 5.68% |
150,078
| – | – |
|
8
Motorcar Parts of America
MPAA
$262M
| $3.29M | 4.38% |
111,804
+1,016
| +0.9% | +$27.5K |
|
|
9
Kratos Defense & Security Solutions
KTOS
$9B
| $2.23M | 2.96% |
+170,139
| New | +$2.09M |
|
|
OCLR
10
DELISTED
Oclaro Inc.
OCLR
| $2.14M | 2.85% |
248,151
-36,407
| -13% | -$328K |
|
11
National CineMedia
NCMI
$363M
| $2.13M | 2.83% |
30,467
+2,019
| +7% | +$130K |
|
|
AMAG
12
DELISTED
AMAG Pharmaceuticals
AMAG
| $2.04M | 2.72% |
110,789
+16,680
| +18% | +$311K |
|
13
Lumentum
LITE
$60.4B
| $1.65M | 2.19% |
30,362
| – | – |
|
|
14
IMAX
IMAX
$2.41B
| $1.4M | 1.86% |
+61,821
| New | +$1.27M |
|
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Voce Capital Management's Q3 2017 Portfolio in Review
As of Q3 2017, Voce Capital Management held 14 positions worth $75.3M, up 62% from $46.3M the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Voce Capital Management deployed $19.4M of net new capital in Q3 2017, opening 3 new positions and adding to 4 existing holdings. Its largest new stake was Analogic Corp: 180,542 shares worth $15.1M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 36% a quarter earlier, followed by Healthcare and Communication Services.
On the sell side, the largest reduction was Investment Technology Group Inc, an estimated $927K trimmed.
- Voce Capital Management's largest Q3 2017 buy was Analogic Corp: 180,542 shares worth $15.1M.
- Voce Capital Management added most to Calix in Q3 2017, an estimated $4.7M increase.
- Voce Capital Management's biggest Q3 2017 reduction was Investment Technology Group Inc, cutting an estimated $927K.
- Voce Capital Management's ten largest holdings make up 90% of its $75.3M portfolio in Q3 2017.
- Voce Capital Management opened 3 new positions and closed 0 in Q3 2017.
- Voce Capital Management's portfolio value rose 62% quarter-over-quarter to $75.3M.
Based on Voce Capital Management's 13F filing for Q3 2017, filed 14 Nov 2017.