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Disclosery

Waterstone Capital Management, L.P.

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13F filer, CIK 1512370, ST. LOUIS PARK, MN

Waterstone Capital Management, L.P. reported $59,337,000 across 7 holdings for the quarter ended 2018-12-31, in a 13F-HR filed 2019-02-14.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000919574-19-001228

Period
2018-12-31
Reported value
$59.3M
Holdings
7
Top 10 weight
100%
New
3
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NEEnew+79,450$14.2M
CADENCE BANCORPnew+164,359$3.19M
ESNTadded+73,000$2.99M
NABORS INDUSTRIES LTDnew+148,800$478K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
STATE BANK FINL CORP COMexited-129,315-$3.9M
TERexited-96,100-$3.55M
ILMNreduced-9,450-$2.69M
KREexited-35,000-$2.08M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2018

Share positions as resolved from 13F-HR 0000919574-19-001228, largest first. % of portfolio is the value over $59,337,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FLG-PUFLAGSTAR BANK NATIONAL ASSOCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2017Q1: restricted; 2017Q2: restricted; 2017Q3: restricted; 2017Q4: restricted; 2018Q1: 485,137 shares; 2018Q2: 485,137 shares; 2018Q3: 485,137 shares; 2018Q4: 485,137 shares 485,137$23M38.72%0Timeline
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2017Q1: restricted; 2017Q2: restricted; 2017Q3: restricted; 2017Q4: restricted; 2018Q1: not reported; 2018Q2: not reported; 2018Q3: not reported; 2018Q4: 79,450 shares 79,450$14.2M23.85%newTimeline
ESNTESSENT GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2017Q1: restricted; 2017Q2: restricted; 2017Q3: restricted; 2017Q4: restricted; 2018Q1: 108,000 shares; 2018Q2: 123,000 shares; 2018Q3: 60,000 shares; 2018Q4: 133,000 shares 133,000$5.45M9.18%+73,000Timeline
CADENCE BANCORPCADENCE BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2017Q1: restricted; 2017Q2: restricted; 2017Q3: restricted; 2017Q4: restricted; 2018Q1: not reported; 2018Q2: not reported; 2018Q3: not reported; 2018Q4: 164,359 shares 164,359$3.19M5.38%new
ILMNILLUMINA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2017Q1: restricted; 2017Q2: restricted; 2017Q3: restricted; 2017Q4: restricted; 2018Q1: 10,161 shares; 2018Q2: 10,161 shares; 2018Q3: 19,111 shares; 2018Q4: 9,661 shares 9,661$2.75M4.63%-9,450Timeline
NABORS INDUSTRIES LTDNABORS INDUSTRIES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2017Q1: restricted; 2017Q2: restricted; 2017Q3: restricted; 2017Q4: restricted; 2018Q1: 297,380 shares; 2018Q2: 275,480 shares; 2018Q3: not reported; 2018Q4: 148,800 shares 148,800$478K0.81%new

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
CTRIP COM INTL LTDCTRIP COM INTL LTD NOTE 1.000% 7/0principal10,653,000$10.3M+4,000,000

Sold out in Q4 2018

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
CTRIP COM INTL LTDCTRIP COM INTL LTD9,424,000$9.45Mprincipal
STATE BANK FINL CORP COMSTATE BANK FINL CORP COM129,315$3.9Mshares
CWENCLEARWAY ENERGY INC185,714$3.58Mprincipal
TERTERADYNE INC96,100$3.55Mshares
KRESPDR SERIES TRUST35,000$2.08Mshares
NABORS INDUSTRIES LTDNABORS INDUSTRIES LTD292,980$1.8Mprincipal

How Q4 2018 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000919574-19-001228 base2019-02-14acceptance time not in the bulk data set