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WCM
Waterstone Capital Management Portfolio holdings
AUM
$98.6M
Turnover
37.5%
1-Year Est. Return
19.4%
This Fund
S&P 500
This Quarter
Est. Return
+3.54%
1 Year Est. Return
+19.4%
3 Year Est. Return
+23.38%
5 Year Est. Return
+49.41%
10 Year Est. Return
–
AUM
$206M
AUM Growth
-$763K
(-0.37%)
Cap. Flow
-$116M
Cap. Flow
% of AUM
-56.4%
Top 10 Holdings %
Top 10 Hldgs %
88.65%
Holding
29
New
3
Increased
3
Reduced
6
Closed
10
Avg Time Held
0.7
years
Top 10 Avg Time Held
0.4
years
Top 20 Avg Time Held
0.7
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Illumina
ILMN
|
+$3.37M |
| 2 |
Akamai
AKAM
|
+$3.11M |
| 3 |
Hologic
HOLX
|
+$2.82M |
| 4 |
CTXS
Citrix Systems Inc
CTXS
|
+$1.37M |
| 5 |
Ciena
CIEN
|
+$430K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lam Research
LRCX
|
+$27.8M |
| 2 |
TLMR
TALMER BANCORP INC (MI)
TLMR
|
+$15.2M |
| 3 |
Booking.com
BKNG
|
+$14.8M |
| 4 |
Par Pacific Holdings
PARR
|
+$9.14M |
| 5 |
STBZ
State Bank Financial Corporation. Common Stock
STBZ
|
+$5.61M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 68.67% |
| 2 | Financials | 12.07% |
| 3 | Healthcare | 8.57% |
| 4 | Energy | 6.08% |
| 5 | Technology | 4.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$106M
| – | – |
0
| – | – |
2013 Q2
7 quarters
|
|
|
2
DELISTED
Hologic
HOLX
| $14.5M | 7% |
437,900
+91,800
| +27% | +$2.82M |
2013 Q2
7 quarters
|
|
3
NMI Holdings
NMIH
$3.02B
| $13.5M | 6.56% |
1,808,636
-208,026
| -10% | -$1.63M |
2013 Q4
5 quarters
|
|
|
4
Par Pacific Holdings
PARR
$4.2B
| $12.6M | 6.08% |
540,802
-482,118
| -47% | -$9.14M |
2014 Q3
2 quarters
|
|
|
COB
5
DELISTED
CommunityOne Bancorp
COB
| $7.35M | 3.56% |
747,204
-100
| -0% | -$1.01K |
2013 Q2
7 quarters
|
|
|
6
Akamai
AKAM
$13.3B
| $7M | 3.39% |
98,500
+47,100
| +92% | +$3.11M |
2014 Q3
2 quarters
|
|
|
TLMR
7
DELISTED
TALMER BANCORP INC (MI)
TLMR
| $5.13M | 2.49% |
335,000
-1,078,185
| -76% | -$15.2M |
2014 Q3
2 quarters
|
|
|
8
Illumina
ILMN
$40.5B
| $3.23M | 1.56% |
+17,887
| New | +$3.37M |
2015 Q1
0 quarters
|
|
|
STBZ
9
DELISTED
State Bank Financial Corporation. Common Stock
STBZ
| $2.97M | 1.44% |
141,550
-283,349
| -67% | -$5.61M |
2013 Q2
7 quarters
|
|
10
DELISTED
Welltower Inc.
WELL.PRI
| $1.54M | 0.75% |
22,700
| – | – |
2013 Q3
6 quarters
|
|
|
CTXS
11
DELISTED
Citrix Systems Inc
CTXS
| $1.42M | 0.69% |
+27,879
| New | +$1.37M |
2015 Q1
0 quarters
|
|
|
SGM
12
DELISTED
Stonegate Mortgage Corporation
SGM
| $1.05M | 0.51% |
97,467
-9,226
| -9% | -$97.1K |
2014 Q1
4 quarters
|
|
13
Herbalife
HLF
$1.53B
| $673K | 0.33% |
31,500
+2,900
| +10% | +$49.5K |
2014 Q3
2 quarters
|
|
|
14
Ciena
CIEN
$50.6B
| $417K | 0.2% |
+21,600
| New | +$430K |
2015 Q1
0 quarters
|
|
15
Alphatec Holdings
ATEC
$1.69B
| – | – |
-20,118
| Closed | -$340K | – |
|
|
16
Booking.com
BKNG
$125B
| – | – |
-325,000
| Closed | -$14.8M | – |
|
17
Century Communities
CCS
$1.58B
| – | – |
-85,571
| Closed | -$1.48M | – |
|
|
18
Lam Research
LRCX
$347B
| – | – |
-3,498,000
| Closed | -$27.8M | – |
|
19
Sinclair Inc
SBGI
$918M
| – | – |
-85,756
| Closed | -$2.35M | – |
|
20
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
| – | – |
-12,500
| Closed | -$423K | – |
|
|
IIN
21
DELISTED
IntriCon Corporation
IIN
| – | – |
-70,818
| Closed | -$487K | – |
|
|
OXFD
22
DELISTED
Oxford Immunotec Global PLC Ordinary Shares
OXFD
| – | – |
-62,461
| Closed | -$851K | – |
|
|
DISH
23
DELISTED
DISH Network Corp.
DISH
| – | – |
-17,000
| Closed | -$1.24M | – |
|
|
SBSA
24
DELISTED
Spanish Broadcasting System Inc.
SBSA
| – | – |
-15,504
| Closed | -$45K | – |
|
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Waterstone Capital Management's Q1 2015 Portfolio in Review
As of Q1 2015, Waterstone Capital Management held 29 positions worth $206M, down 0.37% from $207M the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Waterstone Capital Management withdrew a net $116M in Q1 2015, closing 10 positions and reducing 6 holdings. Its most notable exit was Lam Research, an estimated $27.8M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 69% of assets, up from 44% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Waterstone Capital Management opened a new position in Illumina worth $3.23M.
- Waterstone Capital Management's largest Q1 2015 buy was Illumina: 17,887 shares worth $3.23M.
- Waterstone Capital Management added most to Akamai in Q1 2015, an estimated $3.11M increase.
- Waterstone Capital Management's biggest Q1 2015 reduction was TALMER BANCORP INC (MI), cutting an estimated $15.2M.
- Waterstone Capital Management fully exited Lam Research in Q1 2015, selling an estimated $27.8M.
- Waterstone Capital Management's ten largest holdings make up 89% of its $206M portfolio in Q1 2015.
- Waterstone Capital Management opened 3 new positions and closed 10 in Q1 2015.
- Waterstone Capital Management's portfolio value fell 0.37% quarter-over-quarter to $206M.
Based on Waterstone Capital Management's 13F filing for Q1 2015, filed 15 May 2015.