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WCM

Waterstone Capital Management Portfolio holdings

AUM $98.6M
1-Year Est. Return 19.4%
This Fund
S&P 500
This Quarter Est. Return
+3.7%
1 Year Est. Return
+19.4%
3 Year Est. Return
+23.38%
5 Year Est. Return
+49.41%
10 Year Est. Return
–
AUM
$843M
AUM Growth
-$277M
Cap. Flow
-$776M
Cap. Flow %
-92.1%
Top 10 Hldgs %
82.24%
Holding
40
New
4
Increased
7
Reduced
9
Closed
9

Top Buys

Rank Stock Value
1
HRC
HILL-ROM HOLDINGS, INC.
HRC
+$5.31M
2
CFN
CAREFUSION CORPORATION
CFN
+$5.23M
3
BKNG icon
Booking.com
BKNG
+$4.02M
4
LRCX icon
Lam Research
LRCX
+$2.88M
5
WELL.PRI
Welltower Inc.
WELL.PRI
+$1.48M

Top Sells

Rank Stock Value
1
GM icon
General Motors
GM
+$34.3M
2
AL
Air Lease Corp
AL
+$12.4M
3
UTHR icon
United Therapeutics
UTHR
+$8.62M
4
OSG
Octave Specialty Group
OSG
+$7.07M
5
ZIONW
Zions Bancorporation N.A. Warrants
ZIONW
+$6.06M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 7.96%
2 Healthcare 3.49%
3 Technology 2.88%
4 Industrials 2.64%
5 Financials 0.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GM icon
26
General Motors
GM
$78.2B
– –
-1,029,605
Closed -$34.3M
INTC icon
27
Intel
INTC
$510B
– –
-103,600
Closed -$2.51M
UTHR icon
28
United Therapeutics
UTHR
$22B
– –
-130,913
Closed -$8.62M
CMLS
29
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
– –
-56,235
Closed -$1.52M
NUVA
30
DELISTED
NuVasive, Inc.
NUVA
– –
-150,000
Closed -$3.72M
CSOD
31
DELISTED
Cornerstone OnDemand, Inc.
CSOD
– –
-112,900
Closed -$4.89M
SFLY
32
DELISTED
Shutterfly, Inc.
SFLY
– –
-15,200
Closed -$850K
LCC
33
PUT
DELISTED
US AIRWAYS GROUP INC.
LCC
– –
-357,700
Closed -$5.87M
1
2

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Waterstone Capital Management's Q3 2013 Portfolio in Review

As of Q3 2013, Waterstone Capital Management held 40 positions worth $843M, down 25% from $1.12B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Waterstone Capital Management withdrew a net $776M in Q3 2013, closing 9 positions and reducing 9 holdings. Its most notable exit was General Motors, an estimated $34.3M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 8% of assets, up from 7.6% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Waterstone Capital Management opened a new position in HILL-ROM HOLDINGS, INC. worth $5.38M.

  • Waterstone Capital Management's largest Q3 2013 buy was HILL-ROM HOLDINGS, INC.: 150,000 shares worth $5.38M.
  • Waterstone Capital Management added most to Booking.com in Q3 2013, an estimated $4.02M increase.
  • Waterstone Capital Management's biggest Q3 2013 reduction was Air Lease Corp, cutting an estimated $12.4M.
  • Waterstone Capital Management fully exited General Motors in Q3 2013, selling an estimated $34.3M.
  • Waterstone Capital Management's ten largest holdings make up 82% of its $843M portfolio in Q3 2013.
  • Waterstone Capital Management opened 4 new positions and closed 9 in Q3 2013.
  • Waterstone Capital Management's portfolio value fell 25% quarter-over-quarter to $843M.

Based on Waterstone Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.