By: Manisha Sethi Jun. 12, 2018

Per the SEC 13F filings of Endeavour Capital Advisors Inc., on May 15, 2018, the firm’s portfolio value has increased by 148.16% to $612.24 million from the previous quarter. About 45.2% of the company’s portfolio value is contributed by its top 10 holdings. The firm’s largest holding is Midland States Bancorp Inc., with 12,32,399 shares valued at $38.89 million. Based out of Greenwich, Connecticut, Endeavour Capital Advisors, was founded by Mitchell Jay Katz and Laurence Michael Austin. The company invests in only the financial sector and specializes in equity investing. The company provides portfolio management, equities, funds, financial planning, and advisory services.

According to the Raltin, around 59.76% or 101 new stock buys of Endeavour Capital Advisors have outperformed the S&P 500, whereas only 40.24% or 68 new stock buys (between Q1 2014 & Q1 2018) have underperformed the S&P 500. Of the 169 new buys, 59 have outperformed the index by more than 10%. Raltin’s detailed methodology for calculating the S&P 500 outperformance is given here. The below table shows the total number of new stock purchases according to their performance against the S&P performance categories.

S&P outperformance categoryNumber of new stock purchasesTotal new purchases (%)
>20%3621.3
10-20%2313.61
0-10%4224.85
-10-0%2917.16
-20 to -10%2112.43
<-20%1810.65
Total Stocks169
img

Endeavour Capital Advisors Inc. bought 13 new financial stocks in the recent quarter. Centerstate Banks, Inc. (CSFL) and Bridgewater Bancshares, Inc. (BWB) account for 3.25% and 3.02% of the company’s portfolio. The table below lists all the new purchases as well as the number of shares and their holding value.

StocksNumber of sharesHolding value ($1,000)
Centerstate Banks, Inc. (CSFL)750,67819,915
Bridgewater Bancshares, Inc. (BWB)1,416,45618,513
Zions Bancorporation (ZION)339,07717,880
American Express Co. (AXP)176,68816,481
Capital One Financial Corp. (COF)147,92914,175
Berkshire Hills Bancorp, Inc. (BHLB)341,08112,944
SVB Financial Group (SIVB)50,47212,114
TowneBank (TOWN)336,1909,615
MB Financial, Inc. (MBFI)188,8297,644
Investors Real Estate Trust (IRET)1,450,0027,526
WSFS Financial Corp. (WSFSL)139,2236,669
Sterling Bancorp (STL)155,1683,499
Camden National Corp. (CAC)19,604872

The following table shows the portfolio value of the investor for 5 quarters starting from Q1 2017 to Q1 2016 and the top holdings in each quarter that outperformed the S&P 500 IRR. Several new picks like Interactive Brokers Group (IBKR), Apollo Global Management (APO), and FB Financial Corporation (FBK) have dramatically outperformed the S&P 500.

PeriodTotal portfolio value ($Mn)Top holdings (ticker, % of IRR difference from S&P 500)
Q1 2017221.1Interactive Brokers Group, Inc. (IBKR, 82.35)
Q4 20161,600.15Apollo Global Management LLC (APO, 53.7), Crown Castle International Corp. (CCI, 8.58), First Bancshares, Inc. (The) (FBMS, 5.0)
Q3 20161,338.27FB Financial Corporation (FBK, 71.04), CBOE Holdings, Inc. (CBOE, 50.0), Bank of the Ozarks, Inc. (OZRK, 9.01)
Q2 20161,338.3SVB Financial Group (SIVB, 69.3), Houlihan Lokey, Inc. (HLI, 40.58), Midland States Bancorp, Inc. (MSBI, 39.11)
Q1 20161,257.68Lakeland Bancorp, Inc. (LBAI, 78.4), TowneBank (Portsmouth, VA) (TOWN, 54.13), CoBiz Financial, Inc. (COBZ, 27.43)