Wynnefield Capital: 13F holdings, Q3 2011
Concentrated value · SEC EDGAR filings (CIK 0001056835) · Explore on the interactive board
Wynnefield Capital disclosed 30 US equity positions worth $173.3m in its Q3 2011 13F filing (holdings as of September 30, 2011, filed November 14, 2011). Its largest position is DIREXION SMALL CAP BEAR 3X ETF at 16.8% of the reported book, followed by CORE, MVC CAPITAL INC COMM. The top ten holdings are 81.1% of the book, and the portfolio behaves like about 12 equal-weight positions. Versus the prior filing it opened 3 new positions, added to 11, reduced 6 and exited 12. Note: this manager's most recent filing is 59 quarters behind the newest quarter on file, so these figures are history rather than current positioning.
What does Wynnefield Capital own? Top holdings as of September 30, 2011
Change is measured in shares against the previous filing (Q2 2011), so price moves do not read as decisions. This quarter: 3 new, 11 added, 6 reduced, 12 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | DIREXION SMALL CAP BEAR 3X ETF | 16.8% | $29.1m | 550,000 | -1% | reduced | |
| 2 | CORE CORE-MARK HOLDING CO INC COMM | 12.3% | $21.3m | 705,600 | -2% | reduced | |
| 3 | MVC CAPITAL INC COMM | 9.3% | $16.1m | 1,565,258 | 6% | added | |
| 4 | NATR NATURES SUNSHINE PRODS INC COMM | Consumer Defensive | 8.2% | $14.3m | 1,059,921 | -9% | reduced |
| 5 | LANDEC CORP COMM | 7.3% | $12.7m | 2,497,924 | 24% | added | |
| 6 | BREEZE-EASTERN CORP COMM | 7.2% | $12.5m | 2,117,911 | 0% | held | |
| 7 | API TECHNOLOGIES CORP COMM | 5.7% | $10.0m | 2,520,000 | 0% | held | |
| 8 | EASYLINK SERVICES INTL-CL A COMM | 5.7% | $9.8m | 2,296,226 | -10% | reduced | |
| 9 | ADVANCED PHOTONIX INC-CL A RSTD | 4.7% | $8.2m | 2,075,750 | 0% | held | |
| 10 | HECKMANN CORP COMM | 3.8% | $6.6m | 1,296,700 | 200% | added | |
| 11 | KTOS KRATOS DEFENSE & SECURITY COMM | Industrials | 2.9% | $5.0m | 740,000 | – | new |
| 12 | CHIQUITA BRANDS INTL COMM | 2.4% | $4.1m | 495,000 | – | new | |
| 13 | ROTECH HEALTHCARE INC COMM | 2.2% | $3.9m | 1,887,500 | 12% | added | |
| 14 | FSS FEDERAL SIGNAL CORP COMM | Industrials | 1.7% | $3.0m | 697,762 | 122% | added |
| 15 | VITACOST.COM INC COMM | 1.7% | $2.9m | 610,000 | 0% | held | |
| 16 | PRIMO WATER CORP COMM | 1.6% | $2.8m | 490,000 | – | new | |
| 17 | ULTRASHORT LEHMAN 20+ YEAR ETF | 1.1% | $2.0m | 102,300 | 96% | added | |
| 18 | CDC SOFTWARE CORP-ADR ADRS | 0.8% | $1.4m | 417,447 | 16% | added | |
| 19 | HALO HALOZYME THERAPEUTICS INC COMM | Healthcare | 0.7% | $1.2m | 200,000 | 747% | added |
| 20 | KINDRED HEALTHCARE INC COMM | 0.6% | $1.1m | 140,000 | 87% | added | |
| 21 | PHYSICIANS FORMULA HOLDINGS COMM | 0.6% | $1.1m | 479,700 | -0% | held | |
| 22 | NEVADA GOLD & CASINOS INC COMM | 0.6% | $1.1m | 615,188 | -1% | reduced | |
| 23 | SMTC CORPORATION COMM | 0.4% | $727.0k | 723,450 | 45% | added | |
| 24 | WESTMORELAND COAL CO COMM | 0.4% | $621.0k | 80,000 | 0% | held | |
| 25 | SUN HEALTHCARE GROUP INC NEW COMM | 0.3% | $567.0k | 210,000 | 0% | held | |
| 26 | PHC INC-CL A (MASS) COMM | 0.3% | $564.0k | 259,018 | -22% | reduced | |
| 27 | ULTRAPETROL (BAHAMAS) LTD COMM | 0.1% | $227.0k | 100,000 | 0% | held | |
| 28 | PPC PILGRIM'S PRIDE CORP COMM | Consumer Defensive | 0.1% | $214.0k | 50,000 | 100% | added |
| 29 | OVERHILL FARMS INC COMM | 0.1% | $199.0k | 55,701 | 0% | held | |
| 30 | US NATURAL GAS FUND LP ETF | 0.1% | $90.0k | 10,000 | 0% | held |
What did Wynnefield Capital sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| NOBEL LEARNING COMMUNITIES COMM | 34.0% | $11.9m |
| TELOS CORP MD 12% | 22.7% | $8.0m |
| UNIGENE LABORATORIES INC COMM | 17.5% | $6.1m |
| INTEGRAL SYSTEMS INC/MD COMM | 15.7% | $5.5m |
| TRANSWORLD CORPORATION COMM | 6.6% | $2.3m |
| MOUNTAIN PROVINCE DIAMONDS COMM | 1.6% | $559.0k |
| ALEXCO RESOURCE CORP COMM | 0.4% | $151.0k |
| PEOPLES FEDERAL BANCSHARES I COMM | 0.4% | $141.0k |
| INDEPENDENCE HOLDING CO COMM | 0.3% | $121.0k |
| WINTHROP REALTY TRUST REIT | 0.3% | $119.0k |
| U S ENERGY CORP - WYOMING COMM | 0.3% | $107.0k |
| AMERICAN INDEPENDENCE CORP COMM | 0.2% | $73.0k |
Sector mix
| Sector | Weight |
|---|---|
| Consumer Defensive | 8.4% |
| Industrials | 4.6% |
| Healthcare | 0.7% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
| Quarter | Positions | Equity value |
|---|---|---|
| Q3 2011 | 30 | $173.3m |
| Q2 2011 | 39 | $209.0m |
| Q1 2011 | 36 | $143.4m |
| Q4 2010 | 35 | $135.5m |
| Q3 2010 | 37 | $325.9m |
| Q2 2010 | 36 | $282.7m |
| Q1 2010 | 25 | $218.7m |
| Q4 2009 | 22 | $135.6m |
| Q3 2009 | 21 | $129.3m |
| Q2 2009 | 20 | $117.9m |
| Q1 2009 | 26 | $134.9m |
| Q4 2008 | 33 | $144.0m |
| Q3 2008 | 38 | $211.7m |
| Q2 2008 | 39 | $194.2m |
| Q1 2008 | 54 | $123.9m |
| Q4 2007 | 50 | $185.6m |
Earliest filing: Q3 2000 · 43 quarters on file
How concentrated is Wynnefield Capital's portfolio?
Across every quarter Wynnefield Capital has filed, its median largest position is 9.8% of the book and its median top-ten weight is 55.1%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 744 completed holding spells, the median lasted 4.0 quarters; 30 positions are still open and their final length is unknown.