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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
+9.04%
1 Year Est. Return
-9.28%
3 Year Est. Return
+69.22%
5 Year Est. Return
+12.27%
10 Year Est. Return
–
AUM
$157M
AUM Growth
+$13.3M
(+9.2%)
Cap. Flow
+$7.72M
Cap. Flow
% of AUM
4.91%
Top 10 Holdings %
Top 10 Hldgs %
99.25%
Holding
16
New
4
Increased
4
Reduced
2
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Evolent Health
EVH
|
+$6.98M |
| 2 |
America's Car Mart
CRMT
|
+$1.39M |
| 3 |
RadNet
RDNT
|
+$1.37M |
| 4 |
Ziff Davis
ZD
|
+$1.26M |
| 5 |
CUTR
Cutera, Inc.
CUTR
|
+$923K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Azenta
AZTA
|
+$1.82M |
| 2 |
HNGR
Hanger Inc.
HNGR
|
+$1.65M |
| 3 |
Accuray
ARAY
|
+$1.06M |
| 4 |
Surgery Partners
SGRY
|
+$900K |
| 5 |
Enova International
ENVA
|
+$525K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 74.1% |
| 2 | Healthcare | 14.76% |
| 3 | Technology | 7.29% |
| 4 | Consumer Discretionary | 1.62% |
| 5 | Communication Services | 0.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ARGO
1
DELISTED
Argo Group International Holdings, Ltd.
ARGO
| $113M | 71.65% |
3,273,697
| – | – |
|
2
Calix
CALX
$2.27B
| $11.1M | 7.05% |
623,907
| – | – |
|
|
CUTR
3
DELISTED
Cutera, Inc.
CUTR
| $10.3M | 6.58% |
545,396
+59,769
| +12% | +$923K |
|
|
4
Evolent Health
EVH
$475M
| $9.38M | 5.96% |
755,535
+593,329
| +366% | +$6.98M |
|
|
5
RadNet
RDNT
$4.84B
| $3.5M | 2.23% |
228,157
+87,063
| +62% | +$1.37M |
|
|
6
America's Car Mart
CRMT
$25.3M
| $2.55M | 1.62% |
29,990
+14,666
| +96% | +$1.39M |
|
|
7
Enova International
ENVA
$5.91B
| $2.23M | 1.42% |
136,141
-32,724
| -19% | -$525K |
|
|
AVID
8
DELISTED
Avid Technology Inc
AVID
| $2.17M | 1.38% |
252,964
-42,105
| -14% | -$337K |
|
|
9
Ziff Davis
ZD
$1.9B
| $1.34M | 0.85% |
+22,226
| New | +$1.26M |
|
10
Encore Capital Group
ECPG
$1.93B
| $814K | 0.52% |
+21,094
| New | +$841K |
|
11
PRA Group
PRAA
$648M
| $811K | 0.52% |
+20,293
| New | +$844K |
|
12
Onto Innovation
ONTO
$13.6B
| $372K | 0.24% |
+12,500
| New | +$415K |
|
|
13
Accuray
ARAY
$28.4M
| – | – |
-521,634
| Closed | -$1.06M |
|
|
14
Azenta
AZTA
$1.26B
| – | – |
-41,179
| Closed | -$1.82M |
|
|
15
Surgery Partners
SGRY
$2.06B
| – | – |
-77,771
| Closed | -$900K |
|
|
HNGR
16
DELISTED
Hanger Inc.
HNGR
| – | – |
-99,581
| Closed | -$1.65M |
|
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Voce Capital Management's Q3 2020 Portfolio in Review
As of Q3 2020, Voce Capital Management held 16 positions worth $157M, up 9.2% from $144M the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Voce Capital Management deployed $7.72M of net new capital in Q3 2020, opening 4 new positions and adding to 4 existing holdings. Its largest new stake was Ziff Davis: 22,226 shares worth $1.34M.
By sector, the portfolio is most concentrated in Financials at 74% of assets, down from 81% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was Enova International, an estimated $525K trimmed.
- Voce Capital Management's largest Q3 2020 buy was Ziff Davis: 22,226 shares worth $1.34M.
- Voce Capital Management added most to Evolent Health in Q3 2020, an estimated $6.98M increase.
- Voce Capital Management's biggest Q3 2020 reduction was Enova International, cutting an estimated $525K.
- Voce Capital Management fully exited Azenta in Q3 2020, selling an estimated $1.82M.
- Voce Capital Management's ten largest holdings make up 99% of its $157M portfolio in Q3 2020.
- Voce Capital Management opened 4 new positions and closed 4 in Q3 2020.
- Voce Capital Management's portfolio value rose 9.2% quarter-over-quarter to $157M.
Based on Voce Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.