Castine Capital Management 13F annual report
Castine Capital Management is an investment fund managing more than $129 million ran by Paul Magidson. There are currently 19 companies in Mr. Magidson’s portfolio. The largest investments include Citizens and QCR, together worth $21.4 million.
$129 million Assets Under Management (AUM)
As of 7th October 2020, Castine Capital Management’s top holding is 464,103 shares of Citizens currently worth over $11.7 million and making up 9.1% of the portfolio value.
Relative to the number of outstanding shares of Citizens, Castine Capital Management owns less than approximately 0.1% of the company.
In addition, the fund holds 310,592 shares of QCR worth $9.68 million, whose value grew 5.1% in the past six months.
The third-largest holding is Sterling Bancorp Del worth $9.25 million and the next is Ameris Bancorp worth $9.11 million, with 386,148 shares owned.
Currently, Castine Capital Management's portfolio is worth at least $129 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Castine Capital Management
The Castine Capital Management office and employees reside in Boston, Massachusetts. According to the last 13-F report filed with the SEC, Paul Magidson serves as the Managing Member at Castine Capital Management.
Recent trades
In the most recent 13F filing, Castine Capital Management revealed that it had opened a new position in
First Bancorp P R and bought 1,301,240 shares worth $7.27 million.
On the other hand, there are companies that Castine Capital Management is getting rid of from its portfolio.
Castine Capital Management closed its position in Opus Bk Irvine Calif on 13th August 2020.
It sold the previously owned 393,503 shares for $6.82 million.
Paul Magidson also disclosed a decreased stake in Citizens by 0.3%.
This leaves the value of the investment at $11.7 million and 464,103 shares.
One of the smallest hedge funds
The two most similar investment funds to Castine Capital Management are Capstone and Detalus Advisors. They manage $129 million and $129 million respectively.
Paul Magidson investment strategy
Castine Capital Management’s portfolio is diversified across 2 sectors.
Currently, their heaviest sector is Finance — making up 46.2% of
the total portfolio value.
The fund focuses on investments in the United States as
42.1% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are small-cap stocks.
Stocks with a size of more than $100 million in market cap make up
11% of the total holdings value.
On the other hand, large-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $671 million.
The complete list of Castine Capital Management trades based on 13F SEC filings
These positions were updated on August 13th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Citizens Financial Group, Inc. |
33.70%
464,103
|
$11,714,000 | 9.05% |
| QCR Holdings, Inc. |
25.05%
310,592
|
$9,684,000 | 7.48% |
| Sterling Bancorp Del |
42.55%
789,000
|
$9,248,000 | 7.15% |
| Ameris Bancorp |
36.86%
386,148
|
$9,109,000 | 7.04% |
| ConnectOne Bancorp, Inc. |
30.96%
556,861
|
$8,976,000 | 6.94% |
| Tcf Financial Corporation Ne |
11.01%
303,733
|
$8,935,000 | 6.91% |
| Community Bankers Tr Corp |
32.98%
1,378,593
|
$7,582,000 | 5.86% |
| Northeast Bk Lewiston Me |
35.36%
421,708
|
$7,401,000 | 5.72% |
| First Bancorp P R |
Opened
1,301,240
|
$7,274,000 | 5.62% |
| Opus Bk Irvine Calif |
Closed
393,503
|
$6,819,000 | |
| Kearny Finl Corp Md |
6.00%
802,599
|
$6,566,000 | 5.07% |
| Banc of California, Inc. |
12.99%
603,168
|
$6,532,000 | 5.05% |
| Hilltop Holdings, Inc. |
11.43%
335,996
|
$6,199,000 | 4.79% |
| Hmn Finl Inc |
5.41%
371,891
|
$5,429,000 | 4.20% |
| First Bancshares Inc Ms |
11.14%
225,931
|
$5,083,000 | 3.93% |
| Civista Bancshares Inc |
10.87%
326,155
|
$5,023,000 | 3.88% |
| Western Alliance Bancorp |
Closed
150,000
|
$4,591,000 | |
| California BanCorp |
46.63%
275,980
|
$4,112,000 | 3.18% |
| Southern First Bancshares In |
30.40%
139,215
|
$3,858,000 | 2.98% |
| HarborOne Bancorp, Inc. |
31.92%
398,561
|
$3,403,000 | 2.63% |
| Old Second Bancorp Inc Ill |
Closed
482,556
|
$3,334,000 | |
| First Bancorp N C |
20.30%
129,921
|
$3,259,000 | 2.52% |
| Professional Hldg Corp |
Closed
185,000
|
$2,951,000 | |
| First Mid Bancshares, Inc. |
Closed
116,624
|
$2,769,000 | |
| Pb Bancorp Inc |
Closed
170,132
|
$2,535,000 | |
| Cambridge Bancorp |
Closed
42,630
|
$2,216,000 | |
| Eagle Bancorp Mont Inc |
Closed
126,238
|
$2,047,000 | |
| Hbt Finl Inc. |
Closed
189,418
|
$1,994,000 | |
| Fauquier Bankshares Inc Va |
Closed
139,888
|
$1,923,000 | |
| Randolph Bancorp, Inc. |
Closed
142,822
|
$1,369,000 | |
| Riverview Finl Corp New |
Closed
186,922
|
$1,209,000 | |
| First Seacoast Bancorp |
Closed
173,373
|
$1,046,000 | |
| Provident Finl Hldgs Inc |
Closed
58,802
|
$896,000 | |
| American Natl Bankshares Inc |
Closed
32,220
|
$770,000 | |
| Reliant Bancorp, Inc. |
Closed
38,888
|
$438,000 | |
| Riverview Bancorp, Inc. |
Closed
72,074
|
$361,000 | |
| Red River Bancshares, Inc. |
Closed
6,746
|
$252,000 | |
| No transactions found | |||
| Showing first 500 out of 37 holdings | |||
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