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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
-1.84%
1 Year Est. Return
-9.28%
3 Year Est. Return
+69.22%
5 Year Est. Return
+12.27%
10 Year Est. Return
–
AUM
$187M
AUM Growth
-$4.98M
(-2.6%)
Cap. Flow
-$1.85M
Cap. Flow
% of AUM
-0.99%
Top 10 Holdings %
Top 10 Hldgs %
96.59%
Holding
16
New
2
Increased
7
Reduced
4
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Evolent Health
EVH
|
+$1.94M |
| 2 |
QuinStreet
QNST
|
+$1.3M |
| 3 |
Surgery Partners
SGRY
|
+$949K |
| 4 |
Calix
CALX
|
+$379K |
| 5 |
HNGR
Hanger Inc.
HNGR
|
+$374K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NTUS
Natus Medical Inc
NTUS
|
+$3.4M |
| 2 |
COWN
Cowen Inc. Class A Common Stock
COWN
|
+$2.26M |
| 3 |
Cohu
COHU
|
+$1.23M |
| 4 |
ARGO
Argo Group International Holdings, Ltd.
ARGO
|
+$508K |
| 5 |
America's Car Mart
CRMT
|
+$233K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 73.54% |
| 2 | Healthcare | 16.46% |
| 3 | Technology | 4.87% |
| 4 | Consumer Discretionary | 2.22% |
| 5 | Communication Services | 2.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ARGO
1
DELISTED
Argo Group International Holdings, Ltd.
ARGO
| $131M | 70.13% |
1,863,557
-7,350
| -0.4% | -$508K |
|
|
CUTR
2
DELISTED
Cutera, Inc.
CUTR
| $9.69M | 5.19% |
331,489
| – | – |
|
|
3
Calix
CALX
$2.29B
| $9.1M | 4.87% |
1,423,907
+60,125
| +4% | +$379K |
|
|
NTUS
4
DELISTED
Natus Medical Inc
NTUS
| $7.07M | 3.79% |
222,056
-116,803
| -34% | -$3.4M |
|
|
5
Evolent Health
EVH
$492M
| $5.04M | 2.7% |
700,488
+270,996
| +63% | +$1.94M |
|
|
HNGR
6
DELISTED
Hanger Inc.
HNGR
| $4.21M | 2.25% |
206,325
+19,917
| +11% | +$374K |
|
|
7
America's Car Mart
CRMT
$27.7M
| $4.15M | 2.22% |
45,250
-2,628
| -5% | -$233K |
|
|
8
QuinStreet
QNST
$882M
| $3.78M | 2.03% |
300,480
+95,622
| +47% | +$1.3M |
|
9
Enova International
ENVA
$5.9B
| $3.18M | 1.7% |
153,232
+13,410
| +10% | +$317K |
|
|
ONDK
10
DELISTED
On Deck Capital, Inc.
ONDK
| $3.18M | 1.7% |
945,454
+93,173
| +11% | +$332K |
|
11
Azenta
AZTA
$1.28B
| $2.7M | 1.45% |
72,844
+6,383
| +10% | +$231K |
|
|
12
CALL
Evolent Health
EVH
$492M
| $1.65M | 0.88% |
+2,291
| New | +$16.4K |
|
13
Healthcare Services Group
HCSG
$1.55B
| $1.04M | 0.56% |
42,852
-2,375
| -5% | -$59.9K |
|
|
14
Surgery Partners
SGRY
$2.1B
| $979K | 0.52% |
+132,610
| New | +$949K |
|
|
15
Cohu
COHU
$2.46B
| – | – |
-79,899
| Closed | -$1.23M |
|
|
COWN
16
DELISTED
Cowen Inc. Class A Common Stock
COWN
| – | – |
-131,617
| Closed | -$2.26M |
|
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Voce Capital Management's Q3 2019 Portfolio in Review
As of Q3 2019, Voce Capital Management held 16 positions worth $187M, down 2.6% from $192M the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Voce Capital Management's Q3 2019 filing shows 2 new, 7 increased, 4 reduced and 2 closed positions. Its largest new stake was Surgery Partners: 132,610 shares worth $979K. The largest sale was Natus Medical Inc, an estimated $3.4M.
By sector, the portfolio is most concentrated in Financials at 74% of assets, down from 77% a quarter earlier, followed by Healthcare and Technology.
- Voce Capital Management's largest Q3 2019 buy was Surgery Partners: 132,610 shares worth $979K.
- Voce Capital Management added most to Evolent Health in Q3 2019, an estimated $1.94M increase.
- Voce Capital Management's biggest Q3 2019 reduction was Natus Medical Inc, cutting an estimated $3.4M.
- Voce Capital Management fully exited Cowen Inc. Class A Common Stock in Q3 2019, selling an estimated $2.26M.
- Voce Capital Management's ten largest holdings make up 97% of its $187M portfolio in Q3 2019.
- Voce Capital Management opened 2 new positions and closed 2 in Q3 2019.
- Voce Capital Management's portfolio value fell 2.6% quarter-over-quarter to $187M.
Based on Voce Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.