Castine Capital Management's 13F Holdings Comparison: Q2 2020 vs. Q3 2020

Castine Capital Management, LLC is a Registered Investment Advisory (RIA) firm based in Boston, Massachusetts, with around $304M in assets under management (AUM). The company specializes in the financial industry and invests mainly in the financial services sector. Castine Capital Management recently filed form 13F for Q3 2020, which provides an insight into the company's holdings from the end of September 2020. In this blog post, we will compare Castine Capital Management's Q2 2020 holdings with the Q3 2020 holdings listed in the 13F form.

Overall Changes

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In Q2 2020, Castine Capital Management's portfolio had a total value of $268,290, which included various financial companies such as Citizens Financial Group, Sterling Bancorp, and Ameris Bancorp, among others. However, in Q3 2020, all those companies disappeared from Castine Capital Management's holdings. As a result, the fund's total value went down to zero as well.

Significant Increase

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There were no significant increases in any of Castine Capital Management's holdings in Q3 2020.

Significant Decrease

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As previously mentioned, Castine Capital Management sold out all its holdings in Q3 2020. Citizens Financial Group Inc. was previously the company's most significant holding in Q2 2020 with 464,103 shares worth $11,714,000. Sterling Bancorp was in second place with 789,000 shares worth $9,248,000. Ameris Bancorp came in third place with 386,148 shares worth $9,109,000.

Conclusion

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Castine Capital Management's recent 13F form shows that the company has divested its entire portfolio. While the company's strategy for doing so remains unclear, it will be interesting to see what new investments it will make in the coming quarters. It's also important to note that 13F filings could be submitted up to 45 days after the end of the quarter, and therefore, the information presented in this blog post might have changed at the time of publication.