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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
+5.81%
1 Year Est. Return
+19.4%
3 Year Est. Return
+23.38%
5 Year Est. Return
+49.41%
10 Year Est. Return
–
AUM
$249M
AUM Growth
+$45.2M
(+22%)
Cap. Flow
-$18.3M
Cap. Flow
% of AUM
-7.34%
Top 10 Holdings %
Top 10 Hldgs %
84.41%
Holding
23
New
4
Increased
4
Reduced
5
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AMT.PRA
American Tower Corporation
AMT.PRA
|
+$23.9M |
| 2 |
Teradyne
TER
|
+$4.65M |
| 3 |
SGM
Stonegate Mortgage Corporation
SGM
|
+$4.61M |
| 4 |
Par Pacific Holdings
PARR
|
+$3.29M |
| 5 |
SVU
SUPERVALU Inc.
SVU
|
+$2.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Herbalife
HLF
|
+$4.33M |
| 2 |
NMI Holdings
NMIH
|
+$2.76M |
| 3 |
Old Republic International
ORI
|
+$2.55M |
| 4 |
NextEra Energy
NEE
|
+$2.15M |
| 5 |
Illumina
ILMN
|
+$1.64M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 51.02% |
| 2 | Financials | 29.47% |
| 3 | Healthcare | 6.79% |
| 4 | Technology | 5.6% |
| 5 | Energy | 2.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AMT.PRA
1
DELISTED
American Tower Corporation
AMT.PRA
| $41.8M | 16.77% |
366,541
+225,000
| +159% | +$23.9M |
|
|
FLG.PRU
2
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$119M
| $24.2M | 9.72% |
485,137
| – | – |
|
3
Bank OZK
OZK
$5.38B
| $21.8M | 8.77% |
420,030
| – | – |
|
|
4
NMI Holdings
NMIH
$3.36B
| $19.1M | 7.68% |
1,677,417
-251,786
| -13% | -$2.76M |
|
|
5
Old Republic International
ORI
$10.1B
| $16.2M | 6.51% |
791,300
-126,200
| -14% | -$2.55M |
|
|
HOLX
6
DELISTED
Hologic
HOLX
| $16M | 6.42% |
375,500
| – | – |
|
|
SGM
7
DELISTED
Stonegate Mortgage Corporation
SGM
| $9.97M | 4% |
1,252,179
+627,806
| +101% | +$4.61M |
|
|
WELL.PRI
8
DELISTED
Welltower Inc.
WELL.PRI
| $8.8M | 3.54% |
140,306
| – | – |
|
|
CTXS
9
DELISTED
Citrix Systems Inc
CTXS
| $5.69M | 2.28% |
68,200
+8,926
| +15% | +$696K |
|
|
CWEN.A
10
DELISTED
Clearway Energy Class A
CWEN.A
| $5.43M | 2.18% |
312,052
-48,186
| -13% | -$790K |
|
|
STBZ
11
DELISTED
State Bank Financial Corporation. Common Stock
STBZ
| $5.17M | 2.08% |
198,135
| – | – |
|
|
12
Teradyne
TER
$55.6B
| $5.06M | 2.03% |
+162,700
| New | +$4.65M |
|
|
AL
13
DELISTED
Air Lease Corp
AL
| $3.88M | 1.56% |
100,000
| – | – |
|
|
14
Par Pacific Holdings
PARR
$3.97B
| $3.63M | 1.46% |
+220,237
| New | +$3.29M |
|
15
Akamai
AKAM
$15.4B
| $3.19M | 1.28% |
53,400
+33,500
| +168% | +$2.2M |
|
|
SVU
16
DELISTED
SUPERVALU Inc.
SVU
| $2.47M | 0.99% |
+91,429
| New | +$2.5M |
|
17
Kinder Morgan
KMI
$70.1B
| $2.31M | 0.93% |
106,200
-2,000
| -2% | -$43.7K |
|
|
STL
18
DELISTED
Sterling Bancorp
STL
| $1.07M | 0.43% |
+45,000
| New | +$1.08M |
|
|
19
Illumina
ILMN
$32.7B
| $932K | 0.37% |
5,614
-10,423
| -65% | -$1.64M |
|
|
20
Herbalife
HLF
$1.3B
| – | – |
-180,000
| Closed | -$4.33M |
|
|
21
NextEra Energy
NEE
$170B
| – | – |
-72,000
| Closed | -$2.15M |
|
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Waterstone Capital Management's Q1 2017 Portfolio in Review
As of Q1 2017, Waterstone Capital Management held 23 positions worth $249M, up 22% from $204M the previous quarter. Its ten largest holdings account for 84% of the portfolio.
Waterstone Capital Management withdrew a net $18.3M in Q1 2017, closing 2 positions and reducing 5 holdings. Its most notable exit was Herbalife, an estimated $4.33M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 51% of assets, up from 46% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Waterstone Capital Management opened a new position in Teradyne worth $5.06M.
- Waterstone Capital Management's largest Q1 2017 buy was Teradyne: 162,700 shares worth $5.06M.
- Waterstone Capital Management added most to American Tower Corporation in Q1 2017, an estimated $23.9M increase.
- Waterstone Capital Management's biggest Q1 2017 reduction was NMI Holdings, cutting an estimated $2.76M.
- Waterstone Capital Management fully exited Herbalife in Q1 2017, selling an estimated $4.33M.
- Waterstone Capital Management's ten largest holdings make up 84% of its $249M portfolio in Q1 2017.
- Waterstone Capital Management opened 4 new positions and closed 2 in Q1 2017.
- Waterstone Capital Management's portfolio value rose 22% quarter-over-quarter to $249M.
Based on Waterstone Capital Management's 13F filing for Q1 2017, filed 15 May 2017.