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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
-2.71%
1 Year Est. Return
+19.4%
3 Year Est. Return
+23.38%
5 Year Est. Return
+49.41%
10 Year Est. Return
–
AUM
$132M
AUM Growth
-$75.4M
(-36%)
Cap. Flow
-$99.7M
Cap. Flow
% of AUM
-75.77%
Top 10 Holdings %
Top 10 Hldgs %
95.29%
Holding
20
New
1
Increased
1
Reduced
4
Closed
6
Avg Time Held
0.8
years
Top 10 Avg Time Held
0.5
years
Top 20 Avg Time Held
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SGM
Stonegate Mortgage Corporation
SGM
|
+$1.83M |
| 2 |
Stericycle, Inc
SRCLP
|
+$1.52M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hologic
HOLX
|
+$9.47M |
| 2 |
Par Pacific Holdings
PARR
|
+$5.64M |
| 3 |
TLMR
TALMER BANCORP INC (MI)
TLMR
|
+$3.3M |
| 4 |
Illumina
ILMN
|
+$2.47M |
| 5 |
STBZ
State Bank Financial Corporation. Common Stock
STBZ
|
+$1.86M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 71.64% |
| 2 | Financials | 16.2% |
| 3 | Technology | 5.77% |
| 4 | Healthcare | 3.21% |
| 5 | Utilities | 1.65% |
| 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
9 quarters
|
|
2
NMI Holdings
NMIH
$3.02B
| – | – |
0
| – | – |
2015 Q3
0 quarters
|
|
|
COB
3
DELISTED
CommunityOne Bancorp
COB
| $8.01M | 6.09% |
736,693
-3,929
| -0.5% | -$41.7K |
2013 Q2
9 quarters
|
|
4
Akamai
AKAM
$13.3B
| $5.04M | 3.83% |
73,000
-17,000
| -19% | -$1.23M |
2014 Q3
4 quarters
|
|
|
5
Illumina
ILMN
$40.5B
| $4.22M | 3.21% |
24,672
-12,233
| -33% | -$2.47M |
2015 Q1
2 quarters
|
|
|
CTXS
6
DELISTED
Citrix Systems Inc
CTXS
| $2.55M | 1.94% |
46,213
-7,033
| -13% | -$400K |
2015 Q1
2 quarters
|
|
7
DELISTED
Clearway Energy Class A
CWEN.A
| – | – |
0
| – | – |
2015 Q3
0 quarters
|
|
|
SGM
8
DELISTED
Stonegate Mortgage Corporation
SGM
| $2.02M | 1.53% |
283,552
+219,058
| +340% | +$1.83M |
2014 Q1
6 quarters
|
|
|
9
DELISTED
Stericycle, Inc
SRCLP
| $1.53M | 1.16% |
+15,000
| New | +$1.52M |
2015 Q3
0 quarters
|
|
10
Herbalife
HLF
$1.53B
| – | – |
0
| – | – |
2015 Q3
0 quarters
|
|
11
Ciena
CIEN
$50.6B
| – | – |
-19,900
| Closed | -$471K | – |
|
|
12
DELISTED
Hologic
HOLX
| – | – |
-248,700
| Closed | -$9.47M | – |
|
|
13
Par Pacific Holdings
PARR
$4.2B
| – | – |
-301,147
| Closed | -$5.64M | – |
|
14
DELISTED
Welltower Inc.
WELL.PRI
| – | – |
-22,700
| Closed | -$1.35M | – |
|
|
STBZ
15
DELISTED
State Bank Financial Corporation. Common Stock
STBZ
| – | – |
-85,653
| Closed | -$1.86M | – |
|
|
TLMR
16
DELISTED
TALMER BANCORP INC (MI)
TLMR
| – | – |
-197,208
| Closed | -$3.3M | – |
|
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Waterstone Capital Management's Q3 2015 Portfolio in Review
As of Q3 2015, Waterstone Capital Management held 20 positions worth $132M, down 36% from $207M the previous quarter. Its ten largest holdings account for 95% of the portfolio.
Waterstone Capital Management withdrew a net $99.7M in Q3 2015, closing 6 positions and reducing 4 holdings. Its most notable exit was Hologic, an estimated $9.47M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 72% of assets, up from 70% a quarter earlier, followed by Financials and Technology.
Against the trend, Waterstone Capital Management opened a new position in Stericycle, Inc worth $1.53M.
- Waterstone Capital Management's largest Q3 2015 buy was Stericycle, Inc: 15,000 shares worth $1.53M.
- Waterstone Capital Management added most to Stonegate Mortgage Corporation in Q3 2015, an estimated $1.83M increase.
- Waterstone Capital Management's biggest Q3 2015 reduction was Illumina, cutting an estimated $2.47M.
- Waterstone Capital Management fully exited Hologic in Q3 2015, selling an estimated $9.47M.
- Waterstone Capital Management's ten largest holdings make up 95% of its $132M portfolio in Q3 2015.
- Waterstone Capital Management opened 1 new position and closed 6 in Q3 2015.
- Waterstone Capital Management's portfolio value fell 36% quarter-over-quarter to $132M.
Based on Waterstone Capital Management's 13F filing for Q3 2015, filed 16 Nov 2015.