Water Asset Management 13F annual report
Water Asset Management is an investment fund managing more than $41.9 million ran by Joseph Kirincich. There are currently 16 companies in Mr. Kirincich’s portfolio. The largest investments include Cadiz and Global Wtr Res Inc, together worth $12.5 million.
$41.9 million Assets Under Management (AUM)
As of 7th October 2020, Water Asset Management’s top holding is 695,576 shares of Cadiz currently worth over $7.67 million and making up 18.3% of the portfolio value.
Relative to the number of outstanding shares of Cadiz, Water Asset Management owns more than approximately 0.1% of the company.
In addition, the fund holds 367,364 shares of Global Wtr Res Inc worth $4.83 million.
The third-largest holding is Rexnord worth $3.95 million and the next is SJW worth $3.61 million, with 50,791 shares owned.
Currently, Water Asset Management's portfolio is worth at least $41.9 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Water Asset Management
The Water Asset Management office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Joseph Kirincich serves as the Chief Financial Officer at Water Asset Management.
Recent trades
In the most recent 13F filing, Water Asset Management revealed that it had opened a new position in
Great Lakes Dredge & Dock and bought 140,000 shares worth $1.59 million.
This means they effectively own approximately 0.1% of the company.
Great Lakes Dredge & Dock makes up
28.7%
of the fund's Industrials sector allocation and has grown its share price by 3.1% in the past year.
The investment fund also strengthened its position in Rexnord by buying
4,640 additional shares.
This makes their stake in Rexnord total 121,073 shares worth $3.95 million.
Rexnord soared 19.9% in the past year.
On the other hand, there are companies that Water Asset Management is getting rid of from its portfolio.
Water Asset Management closed its position in Advanced Drain Sys Inc Del on 14th February 2020.
It sold the previously owned 28,450 shares for $918 thousand.
Joseph Kirincich also disclosed a decreased stake in Cadiz by 0.7%.
This leaves the value of the investment at $7.67 million and 695,576 shares.
One of the smallest hedge funds
The two most similar investment funds to Water Asset Management are Enlightenment Research and Hayman Capital Management, L.P.. They manage $42 million and $42 million respectively.
Joseph Kirincich investment strategy
Water Asset Management’s portfolio is diversified across 5 sectors.
Currently, their heaviest sector is Utilities — making up 32.4% of
the total portfolio value.
The fund focuses on investments in the United States as
43.8% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
6% of the total holdings value.
On the other hand, small-cap stocks make up only 6.3% of the portfolio.
The average market cap of the portfolio companies is close to $2.66 billion.
The complete list of Water Asset Management trades based on 13F SEC filings
These positions were updated on February 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Cadiz, Inc. |
71.70%
695,576
|
$7,665,000 | 18.27% |
| Global Wtr Res Inc |
9.77%
367,364
|
$4,831,000 | 11.52% |
| Rexnord Corp. |
3.99%
121,073
|
$3,949,000 | 9.41% |
| SJW Group |
19.97%
50,791
|
$3,609,000 | 8.60% |
| Forterra, Inc. |
15.82%
310,732
|
$3,592,000 | 8.56% |
| Aqua America, Inc. |
29.45%
52,896
|
$2,483,000 | 5.92% |
| Artesian Resources Corp. |
3.28%
62,262
|
$2,317,000 | 5.52% |
| Masco Corp. |
5.01%
46,325
|
$2,223,000 | 5.30% |
| American Wtr Wks Co Inc New |
3.43%
16,877
|
$2,073,000 | 4.94% |
| Mueller Wtr Prods Inc |
4.56%
158,925
|
$1,904,000 | 4.54% |
| Great Lakes Dredge & Dock Corp. |
Opened
140,000
|
$1,586,000 | 3.78% |
| Select Energy Svcs Inc |
45.16%
170,000
|
$1,578,000 | 3.76% |
| Smith A O Corp |
47.73%
30,723
|
$1,464,000 | 3.49% |
| Proshares Tr Ii |
Opened
90,190
|
$1,121,000 | 2.67% |
| Advanced Drain Sys Inc Del |
Closed
28,450
|
$918,000 | |
| Companhia De Saneamento Basi |
Opened
53,600
|
$807,000 | 1.92% |
| York Wtr Co |
18.98%
16,139
|
$744,000 | 1.77% |
| No transactions found | |||
| Showing first 500 out of 17 holdings | |||
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