CIK: 0001351363
Total reported value
$61.9M
Reporting period: 2019-03-31 · Number of holdings: 78
BALTIMORE CAPITAL MANAGEMENT, INC disclosed 78 holdings in its latest 13F filing for the period ending 2019-03-31, with total reported value of $61.9M and a quarterly turnover rate of 30.3%.
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Baltimore Capital Management, INC's disclosed holdings carry a Herfindahl concentration index of 0.024 — mathematically equivalent to about 41 equally-sized positions, well below its 78 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.96), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 44% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim 05501u106
-87.6% -$1.4M
Trim 026874156
-39.7% -$751.0K
Trim p31076105
-73.6% -$608.0K
Add LVS
+107.7% $503.0K
Trim PSX
-2.9% -$470.0K
Add 25278x109
+174.3% $362.0K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 6.01% | -0.26% | +1.41% | |
| 2 | ✓ | SPDR Gold Shares | Stock-Other | 4.85% | — | -5.82% | |
| 3 | AAPL | Apple INC | Stock-Tech | 4.58% | +0.15% | +22.14% | |
| 4 | CVX | Chevron CORP | Stock-Energy | 4.27% | — | -1.33% | |
| 5 | ✓ | T. Rowe Price Group, Inc. | Stock-Other | 3.97% | -0.32% | +0.24% | |
| 6 | JNJ | Johnson & Johnson | Stock-Healthcare | 3.49% | -0.22% | -7.56% | |
| 7 | PSX | Phillips 66 | Stock-Energy | 3.47% | -0.74% | -2.86% | |
| 8 | USB | US Bancorp | Stock-Financials | 3.23% | — | +9.80% | |
| 9 | ALK | Alaska Air Group INC | Stock-Industrials | 2.91% | — | +20.34% | |
| 10 | MDC1USD | Mdc Holdings INC | Stock-Other | 2.79% | +0.49% | +22.76% | |
| 11 | ✓ | Exxon Mobil Corporation | Stock-Other | 2.72% | -0.24% | -3.78% | |
| 12 | SAVEEUR | Spirit Airlines INC | Stock-Other | 2.70% | +2.70% | NEW | |
| 13 | BMO | Bank Of Montreal | Stock-Financials | 2.39% | -0.42% | -6.72% | |
| 14 | BNS | Bank Of Nova Scotia | Stock-Financials | 2.36% | -0.47% | -7.19% | |
| 15 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 2.36% | -0.18% | +20.36% | |
| 16 | SBUX | Starbucks CORP | Stock-Consumer Disc | 2.34% | — | -20.64% | |
| 17 | CINF | Cincinnati Financial CORP | Stock-Financials | 1.66% | — | -16.23% | |
| 18 | HON | Honeywell International INC | Stock-Industrials | 1.54% | — | — | |
| 19 | LVS | Las Vegas Sands CORP | Stock-Consumer Disc | 1.53% | +0.82% | +107.69% | |
| 20 | ✓ | Verizon Communications Inc. | Stock-Other | 1.52% | — | -5.69% | |
| 21 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 1.46% | — | — | |
| 22 | SF9 | Sanderson Farms INC | Stock-Other | 1.44% | -0.21% | -32.14% | |
| 23 | S76 | Store Capital CORP | Stock-Other | 1.40% | +0.16% | -6.29% | |
| 24 | FMX | Fomento Economico Mex-sp Adr | Stock-Other | 1.35% | +0.54% | +77.94% | |
| 25 | AEFC | Aegon Funding Company LLC 5.10% | Stock-Other | 1.16% | -0.50% | -6.82% | |
| 26 | ✓ | AbbVie Inc. | Stock-Other | 1.15% | — | +15.67% | |
| 27 | ✓ | Diamondback Energy, Inc. | Stock-Other | 1.14% | +0.59% | +174.26% | |
| 28 | CCL1EUR | Carnival CORP LTD | Stock-Consumer Disc | 1.13% | +0.42% | +99.28% | |
| 29 | PEP | Pepsico INC | Stock-Consumer Staples | 1.07% | — | -2.69% | |
| 30 | CI | THE Cigna Group | Stock-Healthcare | 1.04% | +1.04% | NEW | |
| 31 | HP | Helmerich & Payne | Stock-Energy | 1.02% | +1.02% | NEW | |
| 32 | TIFEUR | Tiffany & Co | Stock-Other | 0.99% | -0.22% | -0.57% | |
| 33 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.94% | -0.24% | -22.11% | |
| 34 | DAL | Delta Air Lines INC | Stock-Industrials | 0.93% | +0.93% | NEW | |
| 35 | ✓ | At&t CORP | Stock-Other | 0.87% | -0.34% | -23.41% | |
| 36 | IBB | Ishares Biotechnology ETF | ETF-Tech | 0.86% | — | +0.63% | |
| 37 | ✓ | Ishares Silver Trust ETF Iv | ETF-Commodities | 0.79% | — | -15.40% | |
| 38 | ✓ | Marathon Petroleum Corporation | Stock-Other | 0.76% | — | +31.70% | |
| 39 | ✓ | Prologis, Inc. | Stock-Other | 0.76% | — | -13.33% | |
| 40 | HD | Home Depot INC | Stock-Consumer Disc | 0.72% | — | +9.41% | |
| 41 | MSFT | Microsoft CORP | Stock-Tech | 0.72% | — | — | |
| 42 | ✓ | Covanta Holding Corp. | Stock-Other | 0.69% | — | -12.32% | |
| 43 | TCF 5.7 PERP C | Tcf Financial Co | Stock-Other | 0.68% | +0.15% | +25.36% | |
| 44 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.64% | — | — | |
| 45 | PFF | Ishares Preferred & Income S | ETF-Other | 0.64% | — | — | |
| 46 | ✓ | Merck & Co., Inc. | Stock-Other | 0.63% | — | -2.08% | |
| 47 | ✓ | VanEck China Semiconductor ETF | ETF-Emerging Markets | 0.61% | — | -3.79% | |
| 48 | PFE | Pfizer INC | Stock-Healthcare | 0.59% | — | — | |
| 49 | PNC | Pnc Financial Services Group | Stock-Financials | 0.59% | — | — | |
| 50 | KMB | Kimberly-clark CORP | Stock-Consumer Staples | 0.58% | — | -1.69% |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2019-03-31 | 78 | $61.9M | 30 | |
| 2018-09-30 | 71 | $62.2M | 22 | |
| 2018-06-30 | 71 | $67.4M | 16 | |
| 2018-03-31 | 71 | $66.8M | 19 | |
| 2017-12-31 | 70 | $71.1M | 16 | |
| 2017-09-30 | 68 | $71.0M | 16 | |
| 2017-06-30 | 69 | $69.1M | 31 | |
| 2017-03-31 | 67 | $75.2M | 0 |
Baltimore Capital Management, INC's most significant position changes for 2019-03-31: New buy: Spirit Airlines INC (SAVEEUR); Sold out: The Hartford Insurance Group, Inc. (HIG); Sold out: The Cigna Group (CI); New buy: THE Cigna Group (CI); New buy: Helmerich & Payne (HP).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LVS | Las Vegas Sands CORP | +0.8% | +107.69% | Add |
| 2 | ✓ | Diamondback Energy, Inc. | +0.6% | +174.26% | Add |
| 3 | FMX | Fomento Economico Mex-sp Adr | +0.5% | +77.94% | Add |
| 4 | MDC1USD | Mdc Holdings INC | +0.5% | +22.76% | Add |
| 5 | CCL1EUR | Carnival CORP LTD | +0.4% | +99.28% | Add |
| 6 | S76 | Store Capital CORP | +0.2% | -6.29% | Trim |
| 7 | TCF 5.7 PERP C | Tcf Financial Co | +0.2% | +25.36% | Add |
| 8 | AAPL | Apple INC | +0.2% | +22.14% | Add |
| 9 | ✓ | Sprott Physical Gold And Silve | +0.1% | +49.38% | Add |
| 10 | ✓ | Nuveen Maryland Premium Income | -0.1% | -30.04% | Trim |
| 11 | ✓ | Alps Group Inc | -0.1% | -19.81% | Trim |
| 12 | BMY | Bristol-myers Squibb Co | -0.2% | +20.36% | Add |
| 13 | SF9 | Sanderson Farms INC | -0.2% | -32.14% | Trim |
| 14 | JNJ | Johnson & Johnson | -0.2% | -7.56% | Trim |
| 15 | TIFEUR | Tiffany & Co | -0.2% | -0.57% | Trim |
| 16 | ✓ | Exxon Mobil Corporation | -0.2% | -3.78% | Trim |
| 17 | KO | Coca-cola Co/the | -0.2% | -22.11% | Trim |
| 18 | BRK-B | Berkshire Hathaway Inc-cl B | -0.3% | +1.41% | Add |
| 19 | ✓ | T. Rowe Price Group, Inc. | -0.3% | +0.24% | Add |
| 20 | ✓ | At&t CORP | -0.3% | -23.41% | Trim |
| 21 | ✓ | Cbs CORP New | -0.4% | -31.69% | Trim |
| 22 | BMO | Bank Of Montreal | -0.4% | -6.72% | Trim |
| 23 | BNS | Bank Of Nova Scotia | -0.5% | -7.19% | Trim |
| 24 | AEFC | Aegon Funding Company LLC 5.10% | -0.5% | -6.82% | Trim |
| 25 | PSX | Phillips 66 | -0.7% | -2.86% | Trim |
| 26 | ✓ | Copa Holdings SA F Class A | -1% | -73.56% | Trim |
| 27 | ✓ | -1.2% | -39.67% | Trim | |
| 28 | ✓ | Azul SA | -2.2% | -87.61% | Trim |
| 29 | SAVEEUR | Spirit Airlines INC | — | NEW | New buy |
| 30 | HIG | The Hartford Insurance Group, Inc. | — | EXIT | Sold out |
| 31 | CI | The Cigna Group | — | EXIT | Sold out |
| 32 | CI | THE Cigna Group | — | NEW | New buy |
| 33 | HP | Helmerich & Payne | — | NEW | New buy |
| 34 | DAL | Delta Air Lines INC | — | NEW | New buy |
| 35 | ✓ | Controladora Vuela Cia Spon Ad | — | EXIT | Sold out |
| 36 | AAWWUSD | Atlas Air Worldwide Holdings | — | EXIT | Sold out |
| 37 | SLB | Slb LTD | — | NEW | New buy |
| 38 | ✓ | Callon Petroleum Co | — | NEW | New buy |
| 39 | MRO* | Marathon Oil CORP | — | NEW | New buy |
| 40 | ✓ | Brighthouse Finl INC Com | — | NEW | New buy |
| 41 | ✓ | Target Corporation | — | NEW | New buy |
| 42 | BNY | Bank Of New York Mellon CORP | — | NEW | New buy |
| 43 | IBKC 6.625 PERP B | Iberiabank CORP | — | NEW | New buy |
| 44 | USB 5.5 PERP K | US Bancorp | — | NEW | New buy |
| 45 | CELG | Celgene CORP | — | NEW | New buy |
| 46 | BA | Boeing Co/the | — | EXIT | Sold out |
| 47 | BALL | Ball CORP | — | NEW | New buy |
| 48 | AWK | American Water Works Co INC | — | NEW | New buy |
| 49 | BBD | Banco Bradesco-adr | — | EXIT | Sold out |
| 50 | ✓ | Banco Bilbao Vizcaya S A Adr S | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-18 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-09 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-13 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-09 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-03 | 13F-HR | View on EDGAR |
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