CIK: 0000925776
Total reported value
$67.3M
Reporting period: 2017-06-30 · Number of holdings: 35
TRENT CAPITAL MANAGEMENT INC /NC/ disclosed 35 holdings in its latest 13F filing for the period ending 2017-06-30, with total reported value of $67.3M and a quarterly turnover rate of 79.1%.
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Trent Capital Management INC /nc/'s disclosed holdings carry a Herfindahl concentration index of 0.063 — mathematically equivalent to about 16 equally-sized positions, well below its 35 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 1.11), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 3.1 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.
Sector classification currently covers about 27% 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 67059L105
-92.5% -$3.0M
Trim PSEC
-93.8% -$2.9M
Trim SNH1EUR
-92.8% -$2.9M
Add MCK
+2.3% $887.0K
Add ZBH
-3.0% $903.0K
Add TEVA
+38.2% $995.0K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | HN9 | Hanesbrands INC | Stock-Other | 8.84% | +8.84% | NEW | |
| 2 | FDX | Fedex CORP | Stock-Industrials | 8.25% | +1.53% | -20.89% | |
| 3 | MCK | Mckesson CORP | Stock-Healthcare | 7.96% | +2.97% | +2.31% | |
| 4 | ZBH | Zimmer Biomet Holdings INC | Stock-Healthcare | 7.82% | +2.95% | -2.98% | |
| 5 | VYX | Ncr Voyix CORP | Stock-Tech | 7.22% | +7.22% | NEW | |
| 6 | TEVA | Teva Pharmaceutical-sp Adr | Stock-Healthcare | 7.02% | +2.85% | +38.23% | |
| 7 | RCL | Royal Caribbean Cruises Ltd. | Stock-Consumer Disc | 6.62% | -0.18% | -44.99% | |
| 8 | REFI | Chicago Atlantic Real Estate Finance, Inc. | Stock-Other | 6.56% | +6.56% | NEW | |
| 9 | JNJ | Johnson & Johnson | Stock-Healthcare | 6.00% | +0.75% | -18.28% | |
| 10 | ADNT | Adient plc | Stock-Other | 5.84% | +2.74% | +26.86% | |
| 11 | CCK | Crown Holdings INC | Stock-Consumer Disc | 5.07% | +1.12% | -14.96% | |
| 12 | TM | Toyota Motor CORP -spon Adr | Stock-Consumer Disc | 5.06% | +0.34% | -10.07% | |
| 13 | PEP | Pepsico INC | Stock-Consumer Staples | 4.90% | +0.73% | -20.03% | |
| 14 | SLB | Slb LTD | Stock-Energy | 4.72% | +0.06% | -3.01% | |
| 15 | MTLS | Materialise Nv-adr | Stock-Other | 0.78% | +0.32% | -17.16% | |
| 16 | ✓ | SLM Solutions | Stock-Other | 0.67% | +0.28% | — | |
| 17 | ✓ | Stock-Other | 0.65% | +0.33% | — | ||
| 18 | PDI | Pimco Dynamic Income Fund | Stock-Financials | 0.55% | — | — | |
| 19 | DG | Dollar General CORP | Stock-Consumer Staples | 0.53% | — | — | |
| 20 | PTY | Pimco Corporate & Income Opp | Stock-Other | 0.50% | — | — | |
| 21 | ✓ | Group Gorge | Stock-Other | 0.43% | +0.16% | — | |
| 22 | DASTY | Dassault Systemes S-spon Adr | Stock-Other | 0.38% | — | — | |
| 23 | ✓ | EOS Imaging | Stock-Other | 0.37% | +0.16% | — | |
| 24 | SNH1EUR | Senior Housing Prop Trust | Stock-Other | 0.36% | -3.14% | -92.77% | |
| 25 | PTC | Ptc INC | Stock-Tech | 0.35% | +0.04% | -30.45% | |
| 26 | ✓ | Exa CORP | Stock-Other | 0.34% | — | — | |
| 27 | ✓ | Organovo Hldgs INC | Stock-Other | 0.33% | — | -2.25% | |
| 28 | ARCC | Ares Capital CORP | Stock-Financials | 0.32% | — | +9.26% | |
| 29 | ✓ | NuStar Energy GP | Stock-Other | 0.30% | -3.24% | -92.49% | |
| 30 | DDD | 3d Systems CORP | Stock-Other | 0.30% | — | -14.37% | |
| 31 | PSEC | Prospect Capital CORP | Stock-Other | 0.27% | -3.18% | -93.84% | |
| 32 | ✓ | Voxeljet AG Ads | Stock-Other | 0.21% | +0.11% | — | |
| 33 | PRCPGBP | Perceptron INC | Stock-Other | 0.21% | — | — | |
| 34 | CFMS | Conformis INC | Stock-Other | 0.20% | — | +45.15% | |
| 35 | SGLB1EUR | Sigma Labs INC | Stock-Other | 0.06% | — | — |
Not enough priced holdings yet to compute performance
Trent Capital Management INC /nc/'s most significant position changes for 2017-06-30: New buy: Hanesbrands INC (HN9); Sold out: Prudential Financial INC (PRU); New buy: Ncr Voyix CORP (VYX); New buy: Chicago Atlantic Real Estate Finance, Inc. (REFI); Sold out: Fluor CORP (FLR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MCK | Mckesson CORP | +3% | +2.31% | Add |
| 2 | ZBH | Zimmer Biomet Holdings INC | +3% | -2.98% | Trim |
| 3 | TEVA | Teva Pharmaceutical-sp Adr | +2.9% | +38.23% | Add |
| 4 | ADNT | Adient plc | +2.7% | +26.86% | Add |
| 5 | FDX | Fedex CORP | +1.5% | -20.89% | Trim |
| 6 | CCK | Crown Holdings INC | +1.1% | -14.96% | Trim |
| 7 | JNJ | Johnson & Johnson | +0.8% | -18.28% | Trim |
| 8 | PEP | Pepsico INC | +0.7% | -20.03% | Trim |
| 9 | TM | Toyota Motor CORP -spon Adr | +0.3% | -10.07% | Trim |
| 10 | ✓ | +0.3% | — | Unchanged | |
| 11 | MTLS | Materialise Nv-adr | +0.3% | -17.16% | Trim |
| 12 | ✓ | SLM Solutions | +0.3% | — | Unchanged |
| 13 | ✓ | EOS Imaging | +0.2% | — | Unchanged |
| 14 | ✓ | Group Gorge | +0.2% | — | Unchanged |
| 15 | ✓ | Voxeljet AG Ads | +0.1% | — | Unchanged |
| 16 | SLB | Slb LTD | +0.1% | -3.01% | Trim |
| 17 | PTC | Ptc INC | 0% | -30.45% | Trim |
| 18 | ✓ | Organovo Hldgs INC | — | -2.25% | Trim |
| 19 | RCL | Royal Caribbean Cruises Ltd. | -0.2% | -44.99% | Trim |
| 20 | SNH1EUR | Senior Housing Prop Trust | -3.1% | -92.77% | Trim |
| 21 | PSEC | Prospect Capital CORP | -3.2% | -93.84% | Trim |
| 22 | ✓ | NuStar Energy GP | -3.2% | -92.49% | Trim |
| 23 | HN9 | Hanesbrands INC | — | NEW | New buy |
| 24 | PRU | Prudential Financial INC | — | EXIT | Sold out |
| 25 | VYX | Ncr Voyix CORP | — | NEW | New buy |
| 26 | REFI | Chicago Atlantic Real Estate Finance, Inc. | — | NEW | New buy |
| 27 | FLR | Fluor CORP | — | EXIT | Sold out |
| 28 | SNCREUR | Synchronoss Technologies INC | — | EXIT | Sold out |
| 29 | FLYGBP | Fly Leasing Ltd-adr | — | EXIT | Sold out |
| 30 | CG | The Carlyle Group Inc. | — | EXIT | Sold out |
| 31 | EPD | Enterprise Products Partners | — | EXIT | Sold out |
| 32 | HPTUSD | Hospitality Properties Trust | — | EXIT | Sold out |
| 33 | ✓ | Northstar Realty Finance | — | EXIT | Sold out |
| 34 | OHI | Omega Healthcare Investors | — | EXIT | Sold out |
| 35 | AB | Alliancebernstein Holding LP | — | EXIT | Sold out |
| 36 | T | At&t INC | — | EXIT | Sold out |
| 37 | SWKS | Skyworks Solutions INC | — | EXIT | Sold out |
| 38 | FARO | Faro Technologies INC | — | EXIT | Sold out |
| 39 | ITGR | Integer Holdings CORP | — | EXIT | Sold out |
| 40 | PRLB | Proto Labs INC | — | EXIT | Sold out |
| 41 | SSYS | Stratasys Ltd. | — | EXIT | Sold out |
| 42 | PM | Philip Morris International | — | EXIT | Sold out |
| 43 | VFIAX | Vanguard 500 Index-adm | — | EXIT | Sold out |
| 44 | WFC | Wells Fargo & Co | — | EXIT | Sold out |
| 45 | VZ | Verizon Communications INC | — | EXIT | Sold out |
| 46 | BRK-B | Berkshire Hathaway Inc-cl B | — | EXIT | Sold out |
| 47 | NRE | Northstar Realty Europe CORP | — | EXIT | Sold out |
| 48 | PAA | Plains All Amer Pipeline LP | — | EXIT | Sold out |
| 49 | WU | Western Union Co | — | EXIT | Sold out |
| 50 | IVREUR | Invesco Mortgage Capital | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2017-06-30 | 2017-08-01 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-01 | 13F-HR | View on EDGAR |
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