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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
-1.42%
1 Year Est. Return
+19.4%
3 Year Est. Return
+23.38%
5 Year Est. Return
+49.41%
10 Year Est. Return
–
AUM
$195M
AUM Growth
+$47.7M
Cap. Flow
-$36.3M
Cap. Flow %
-18.62%
Top 10 Hldgs %
88.62%
Holding
19
New
7
Increased
1
Reduced
3
Closed
2

Top Buys

Rank Stock Value
1
ORI icon
Old Republic International
ORI
+$14.4M
2
CWEN.A
Clearway Energy Class A
CWEN.A
+$11.5M
3
NMIH icon
NMI Holdings
NMIH
+$9.58M
4
STBZ
State Bank Financial Corporation. Common Stock
STBZ
+$6.71M
5
AL
Air Lease Corp
AL
+$2.84M

Top Sells

Rank Stock Value
1
AKAM icon
Akamai
AKAM
+$2.03M
2
COB
CommunityOne Bancorp
COB
+$1.61M
3
SRCLP
Stericycle, Inc
SRCLP
+$1.37M
4
ILMN icon
Illumina
ILMN
+$487K
5
CTXS
Citrix Systems Inc
CTXS
+$291K

Sector Composition

Rank Sector Weight
1 Miscellaneous 66.44%
2 Financials 21.07%
3 Utilities 6.42%
4 Healthcare 1.88%
5 Industrials 1.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FLG.PRU
1
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$119M
– –
0
– –
WELL.PRI
2
DELISTED
Welltower Inc.
WELL.PRI
– –
0
– –
ORI icon
3
Old Republic International
ORI
$10.2B
$14.6M 7.48%
+797,900
New +$14.4M
CWEN.A
4
DELISTED
Clearway Energy Class A
CWEN.A
$12.5M 6.42%
+922,814
New +$11.5M
NMIH icon
5
NMI Holdings
NMIH
$3.37B
$9.28M 4.76%
+1,837,713
New +$9.58M
STBZ
6
DELISTED
State Bank Financial Corporation. Common Stock
STBZ
$6.84M 3.51%
+346,062
New +$6.71M
COB
7
DELISTED
CommunityOne Bancorp
COB
$6.7M 3.44%
504,757
-125,150
-20% -$1.61M
ILMN icon
8
Illumina
ILMN
$32.6B
$3.66M 1.88%
23,233
-3,187
-12% -$487K
SGM
9
DELISTED
Stonegate Mortgage Corporation
SGM
$3.66M 1.88%
638,391
+128,632
+25% +$574K
AL
10
DELISTED
Air Lease Corp
AL
$3.21M 1.65%
+100,000
New +$2.84M
CTXS
11
DELISTED
Citrix Systems Inc
CTXS
$2.81M 1.44%
44,832
-5,149
-10% -$291K
KMI icon
12
Kinder Morgan
KMI
$70.3B
$1.9M 0.97%
+106,100
New +$1.74M
HLF icon
13
Herbalife
HLF
$1.3B
$246K 0.13%
+8,000
New +$206K
AKAM icon
14
Akamai
AKAM
$15.4B
– –
-38,600
Closed -$2.03M
SRCLP
15
DELISTED
Stericycle, Inc
SRCLP
– –
-15,000
Closed -$1.37M

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KL
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BCFA
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SIG
Schaller Investment Group Winston Salem, North Carolina $95.7M AUM 14.66% 1-Year Est. Return
CCM
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AC
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WEC
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BI
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Waterstone Capital Management's Q1 2016 Portfolio in Review

As of Q1 2016, Waterstone Capital Management held 19 positions worth $195M, up 32% from $147M the previous quarter. Its ten largest holdings account for 89% of the portfolio.

Waterstone Capital Management withdrew a net $36.3M in Q1 2016, closing 2 positions and reducing 3 holdings. Its most notable exit was Akamai, an estimated $2.03M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 66% of assets, down from 70% a quarter earlier, followed by Financials and Utilities.

Against the trend, Waterstone Capital Management opened a new position in Old Republic International worth $14.6M.

  • Waterstone Capital Management's largest Q1 2016 buy was Old Republic International: 797,900 shares worth $14.6M.
  • Waterstone Capital Management added most to Stonegate Mortgage Corporation in Q1 2016, an estimated $574K increase.
  • Waterstone Capital Management's biggest Q1 2016 reduction was CommunityOne Bancorp, cutting an estimated $1.61M.
  • Waterstone Capital Management fully exited Akamai in Q1 2016, selling an estimated $2.03M.
  • Waterstone Capital Management's ten largest holdings make up 89% of its $195M portfolio in Q1 2016.
  • Waterstone Capital Management opened 7 new positions and closed 2 in Q1 2016.
  • Waterstone Capital Management's portfolio value rose 32% quarter-over-quarter to $195M.

Based on Waterstone Capital Management's 13F filing for Q1 2016, filed 16 May 2016.