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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
+3.28%
1 Year Est. Return
+19.4%
3 Year Est. Return
+23.38%
5 Year Est. Return
+49.41%
10 Year Est. Return
–
AUM
$211M
AUM Growth
+$15.9M
Cap. Flow
-$22.4M
Cap. Flow %
-10.64%
Top 10 Hldgs %
86.37%
Holding
21
New
6
Increased
5
Reduced
4
Closed
1

Top Buys

Rank Stock Value
1
CCI.PRA
Crown Castle International Corp.
CCI.PRA
+$26.5M
2
WELL.PRI
Welltower Inc.
WELL.PRI
+$13.1M
3
AMT.PRA
American Tower Corporation
AMT.PRA
+$9.83M
4
CFG icon
Citizens Financial Group
CFG
+$2.59M
5
NEE icon
NextEra Energy
NEE
+$2.16M

Top Sells

Rank Stock Value
1
CWEN.A
Clearway Energy Class A
CWEN.A
+$6.9M
2
COB
CommunityOne Bancorp
COB
+$3.93M
3
ORI icon
Old Republic International
ORI
+$1.99M
4
HLF icon
Herbalife
HLF
+$246K
5
ILMN icon
Illumina
ILMN
+$146K

Sector Composition

Rank Sector Weight
1 Miscellaneous 71.6%
2 Financials 18.15%
3 Utilities 4.33%
4 Healthcare 1.99%
5 Technology 1.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CCI.PRA
1
DELISTED
Crown Castle International Corp.
CCI.PRA
$29.3M 13.9%
+241,918
New +$26.5M
FLG.PRU
2
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$119M
– –
0
– –
WELL.PRI
3
DELISTED
Welltower Inc.
WELL.PRI
$13.9M 6.6%
+205,306
New +$13.1M
ORI icon
4
Old Republic International
ORI
$10.2B
$13.3M 6.33%
691,530
-106,370
-13% -$1.99M
NMIH icon
5
NMI Holdings
NMIH
$3.37B
$10.7M 5.06%
1,947,913
+110,200
+6% +$625K
AMT.PRA
6
DELISTED
American Tower Corporation
AMT.PRA
$10.3M 4.88%
+91,541
New +$9.83M
STBZ
7
DELISTED
State Bank Financial Corporation. Common Stock
STBZ
$7.12M 3.38%
349,870
+3,808
+1% +$78.3K
CWEN.A
8
DELISTED
Clearway Energy Class A
CWEN.A
$6.79M 3.22%
445,976
-476,838
-52% -$6.9M
CTXS
9
DELISTED
Citrix Systems Inc
CTXS
$3.58M 1.7%
56,134
+11,302
+25% +$744K
ILMN icon
10
Illumina
ILMN
$32.6B
$3.03M 1.44%
22,205
-1,028
-4% -$146K
AL
11
DELISTED
Air Lease Corp
AL
$2.68M 1.27%
100,000
– –
COB
12
DELISTED
CommunityOne Bancorp
COB
$2.61M 1.24%
206,735
-298,022
-59% -$3.93M
NEE icon
13
NextEra Energy
NEE
$171B
$2.35M 1.11%
+72,000
New +$2.16M
CFG icon
14
Citizens Financial Group
CFG
$29.4B
$2.34M 1.11%
+116,900
New +$2.59M
SGM
15
DELISTED
Stonegate Mortgage Corporation
SGM
$2.17M 1.03%
647,425
+9,034
+1% +$41.6K
KMI icon
16
Kinder Morgan
KMI
$70.3B
$2.02M 0.96%
107,700
+1,600
+2% +$28.5K
HOLX
17
DELISTED
Hologic
HOLX
$1.17M 0.55%
+33,700
New +$1.17M
HLF icon
18
Herbalife
HLF
$1.3B
– –
-8,000
Closed -$246K

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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 Q2 2016 Portfolio in Review

As of Q2 2016, Waterstone Capital Management held 21 positions worth $211M, up 8.1% from $195M the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Waterstone Capital Management withdrew a net $22.4M in Q2 2016, closing 1 position and reducing 4 holdings. Its most notable exit was Herbalife, an estimated $246K position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 72% of assets, up from 66% a quarter earlier, followed by Financials and Utilities.

Against the trend, Waterstone Capital Management opened a new position in Crown Castle International Corp. worth $29.3M.

  • Waterstone Capital Management's largest Q2 2016 buy was Crown Castle International Corp.: 241,918 shares worth $29.3M.
  • Waterstone Capital Management added most to Citrix Systems Inc in Q2 2016, an estimated $744K increase.
  • Waterstone Capital Management's biggest Q2 2016 reduction was Clearway Energy Class A, cutting an estimated $6.9M.
  • Waterstone Capital Management fully exited Herbalife in Q2 2016, selling an estimated $246K.
  • Waterstone Capital Management's ten largest holdings make up 86% of its $211M portfolio in Q2 2016.
  • Waterstone Capital Management opened 6 new positions and closed 1 in Q2 2016.
  • Waterstone Capital Management's portfolio value rose 8.1% quarter-over-quarter to $211M.

Based on Waterstone Capital Management's 13F filing for Q2 2016, filed 15 Aug 2016.