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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
+5.46%
1 Year Est. Return
+19.4%
3 Year Est. Return
+23.38%
5 Year Est. Return
+49.41%
10 Year Est. Return
–
AUM
$138M
AUM Growth
-$17.4M
(-11%)
Cap. Flow
-$57.6M
Cap. Flow
% of AUM
-41.89%
Top 10 Holdings %
Top 10 Hldgs %
93.2%
Holding
20
New
2
Increased
4
Reduced
3
Closed
5
Avg Time Held
6
quarters
Top 10 Avg Time Held
4.6
quarters
Top 20 Avg Time Held
5.4
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Anthem, Inc.
ANTX
|
+$16.6M |
| 2 |
Hologic
HOLX
|
+$2.22M |
| 3 |
Bank OZK
OZK
|
+$1.3M |
| 4 |
Teradyne
TER
|
+$928K |
| 5 |
Illumina
ILMN
|
+$783K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ARNC.PRB
Arconic Inc.
ARNC.PRB
|
+$17.4M |
| 2 |
NMI Holdings
NMIH
|
+$7.02M |
| 3 |
SVU
SUPERVALU Inc.
SVU
|
+$5.44M |
| 4 |
Clearway Energy Class A
CWEN.A
|
+$5.24M |
| 5 |
Kroger
KR
|
+$3.32M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 60.25% |
| 2 | Healthcare | 15.34% |
| 3 | Technology | 12.15% |
| 4 | Financials | 5.28% |
| 5 | Consumer Staples | 2.8% |
| 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
$104M
| $24.8M | 18% |
485,137
| – | – |
2013 Q2
18 quarters
|
|
|
2
DELISTED
Hologic
HOLX
| $19.1M | 13.89% |
446,800
+55,600
| +14% | +$2.22M |
2016 Q2
6 quarters
|
|
|
3
DELISTED
Anthem, Inc.
ANTX
| $17.1M | 12.44% |
+305,572
| New | +$16.6M |
2017 Q4
0 quarters
|
|
|
4
Teradyne
TER
$57B
| $10.7M | 7.79% |
255,900
+22,500
| +10% | +$928K |
2017 Q1
3 quarters
|
|
5
DELISTED
Welltower Inc.
WELL.PRI
| $6.89M | 5.01% |
114,440
| – | – |
2016 Q1
7 quarters
|
|
|
CTXS
6
DELISTED
Citrix Systems Inc
CTXS
| $6M | 4.36% |
68,200
| – | – |
2015 Q1
11 quarters
|
|
|
STBZ
7
DELISTED
State Bank Financial Corporation. Common Stock
STBZ
| $5.91M | 4.3% |
198,135
| – | – |
2016 Q1
7 quarters
|
|
|
8
DELISTED
Clearway Energy Class A
CWEN.A
| $3.59M | 2.61% |
190,559
-278,581
| -59% | -$5.24M |
2015 Q3
9 quarters
|
|
|
9
Kroger
KR
$36.1B
| $2.27M | 1.65% |
82,500
-142,500
| -63% | -$3.32M |
2017 Q3
1 quarter
|
|
10
Nabors Industries
NBR
$1.23B
| $2.15M | 1.56% |
6,292
+300
| +5% | +$95.6K |
2017 Q2
2 quarters
|
|
|
11
Illumina
ILMN
$41B
| $2M | 1.46% |
9,418
+3,804
| +68% | +$783K |
2015 Q1
11 quarters
|
|
12
Sprouts Farmers Market
SFM
$5.87B
| $1.58M | 1.15% |
65,000
-60,000
| -48% | -$1.27M |
2017 Q3
1 quarter
|
|
|
13
Bank OZK
OZK
$4.86B
| $1.36M | 0.99% |
+28,000
| New | +$1.3M |
2017 Q4
0 quarters
|
|
|
14
NMI Holdings
NMIH
$2.95B
| – | – |
-566,301
| Closed | -$7.02M | – |
|
|
SFS
15
DELISTED
Smart & Final Stores, Inc.
SFS
| – | – |
-127,615
| Closed | -$1M | – |
|
|
SVU
16
DELISTED
SUPERVALU Inc.
SVU
| – | – |
-250,000
| Closed | -$5.44M | – |
|
|
ARNC.PRB
17
DELISTED
Arconic Inc.
ARNC.PRB
| – | – |
-446,743
| Closed | -$17.4M | – |
|
|
STL
18
DELISTED
Sterling Bancorp
STL
| – | – |
-13,935
| Closed | -$343K | – |
|
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Waterstone Capital Management's Q4 2017 Portfolio in Review
As of Q4 2017, Waterstone Capital Management held 20 positions worth $138M, down 11% from $155M the previous quarter. Its ten largest holdings account for 93% of the portfolio.
Waterstone Capital Management withdrew a net $57.6M in Q4 2017, closing 5 positions and reducing 3 holdings. Its most notable exit was Arconic Inc., an estimated $17.4M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 60% of assets, up from 57% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Waterstone Capital Management opened a new position in Anthem, Inc. worth $17.1M.
- Waterstone Capital Management's largest Q4 2017 buy was Anthem, Inc.: 305,572 shares worth $17.1M.
- Waterstone Capital Management added most to Hologic in Q4 2017, an estimated $2.22M increase.
- Waterstone Capital Management's biggest Q4 2017 reduction was Clearway Energy Class A, cutting an estimated $5.24M.
- Waterstone Capital Management fully exited Arconic Inc. in Q4 2017, selling an estimated $17.4M.
- Waterstone Capital Management's ten largest holdings make up 93% of its $138M portfolio in Q4 2017.
- Waterstone Capital Management opened 2 new positions and closed 5 in Q4 2017.
- Waterstone Capital Management's portfolio value fell 11% quarter-over-quarter to $138M.
Based on Waterstone Capital Management's 13F filing for Q4 2017, filed 13 Feb 2018.