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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
+7.09%
1 Year Est. Return
-9.28%
3 Year Est. Return
+69.22%
5 Year Est. Return
+12.27%
10 Year Est. Return
–
AUM
$281M
AUM Growth
+$4.62M
(+1.7%)
Cap. Flow
-$11.4M
Cap. Flow
% of AUM
-4.06%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
13
New
2
Increased
1
Reduced
1
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
QUOT
Quotient Technology Inc
QUOT
|
+$1.92M |
| 2 |
America's Car Mart
CRMT
|
+$1.28M |
| 3 |
ICAD
iCAD Inc
ICAD
|
+$718K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Calix
CALX
|
+$7.51M |
| 2 |
EPAY
Bottomline Technologies Inc
EPAY
|
+$3.78M |
| 3 |
Enova International
ENVA
|
+$2.26M |
| 4 |
SLM Corp
SLM
|
+$1.77M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 68.59% |
| 2 | Healthcare | 25.08% |
| 3 | Technology | 3.36% |
| 4 | Consumer Discretionary | 2.23% |
| 5 | Communication Services | 0.75% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ARGO
1
DELISTED
Argo Group International Holdings, Ltd.
ARGO
| $190M | 67.73% |
3,273,697
| – | – |
|
|
CUTR
2
DELISTED
Cutera, Inc.
CUTR
| $50M | 17.8% |
1,210,224
| – | – |
|
3
Evolent Health
EVH
$475M
| $9.53M | 3.39% |
344,431
| – | – |
|
|
4
Calix
CALX
$2.3B
| $9.43M | 3.36% |
117,865
-115,000
| -49% | -$7.51M |
|
5
RadNet
RDNT
$4.84B
| $7.14M | 2.54% |
237,305
| – | – |
|
|
6
America's Car Mart
CRMT
$25.3M
| $6.25M | 2.23% |
61,059
+11,341
| +23% | +$1.28M |
|
7
Viemed Healthcare
VMD
$451M
| $3.18M | 1.13% |
609,386
| – | – |
|
8
LendingTree
TREE
$544M
| $2.42M | 0.86% |
19,745
| – | – |
|
|
QUOT
9
DELISTED
Quotient Technology Inc
QUOT
| $2.1M | 0.75% |
+282,336
| New | +$1.92M |
|
|
ICAD
10
DELISTED
iCAD Inc
ICAD
| $579K | 0.21% |
+80,486
| New | +$718K |
|
|
11
Enova International
ENVA
$5.9B
| – | – |
-65,447
| Closed | -$2.26M |
|
|
12
SLM Corp
SLM
$4.58B
| – | – |
-100,356
| Closed | -$1.77M |
|
|
EPAY
13
DELISTED
Bottomline Technologies Inc
EPAY
| – | – |
-96,250
| Closed | -$3.78M |
|
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Voce Capital Management's Q4 2021 Portfolio in Review
As of Q4 2021, Voce Capital Management held 13 positions worth $281M, up 1.7% from $276M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Voce Capital Management withdrew a net $11.4M in Q4 2021, closing 3 positions and reducing 1 holding. Its most notable exit was Bottomline Technologies Inc, an estimated $3.78M position sold in full.
By sector, the portfolio is most concentrated in Financials at 69% of assets, up from 64% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Voce Capital Management opened a new position in Quotient Technology Inc worth $2.1M.
- Voce Capital Management's largest Q4 2021 buy was Quotient Technology Inc: 282,336 shares worth $2.1M.
- Voce Capital Management added most to America's Car Mart in Q4 2021, an estimated $1.28M increase.
- Voce Capital Management's biggest Q4 2021 reduction was Calix, cutting an estimated $7.51M.
- Voce Capital Management fully exited Bottomline Technologies Inc in Q4 2021, selling an estimated $3.78M.
- Voce Capital Management's ten largest holdings make up 100% of its $281M portfolio in Q4 2021.
- Voce Capital Management opened 2 new positions and closed 3 in Q4 2021.
- Voce Capital Management's portfolio value rose 1.7% quarter-over-quarter to $281M.
Based on Voce Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.