Voce Capital Management LLC

CIK

1563530

Location

San Francisco, CA

Portfolio Value

Micro $35,220,575

Diversification

Moderately concentrated

Filing Date

Global Rank

#5,842 / 6,900 ▼ 156 · as of Jun 2023

Top Industry

Health Information Services 27.8%

3Y Alpha vs SPY

-7.2%

Period ended 3 years ago

Filed Jul 31, 2023 · 2y

14 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+46.3%

SPY

+76.5%

Annualised alpha

-7.3%

Max drawdown

−36.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

9 positions · as of Jun 30, 2023 · Δ vs Mar 31, 2023

Top Position

27.8%

−2.5 pts

Top 5

90.4%

+0.8 pts

Top 10

100.0%

0.0 pts

HHI

1,929

Moderately concentrated−65

Portfolio Trend

14 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2023

Sector	% Portfolio	Value	Positions
Healthcare	75.8%	$26,714,724	4
Technology	21.2%	$7,478,634	3
Financial Services	1.7%	$582,598	1
Consumer Cyclical	1.3%	$444,619	1

Last Quarter's Activity

Export CSV

Jun 30, 2023 vs Mar 31, 2023

Added To

Positions the filer increased

1 positions

Ticker	Company	Δ Shares	Shares	Value	Open
DCGO	DocGo Inc.	+41,460	330,592	$3,097,647
No positions match the current search.

Trimmed

Positions the filer reduced

3 positions

Ticker	Company	Δ Shares	Shares	Value
RDNT	RadNet, Inc.	−92,270	271,045	$8,841,487
VMD	Viemed Healthcare, Inc.	−68,897	507,941	$4,967,662
EVH	Evolent Health, Inc.	−34,357	323,694	$9,807,928
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

9 positions · $35,220,575 total · as of Jun 30, 2023

All sectors Consumer Cyclical Financial Services Healthcare Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
EVH	Evolent Health, Inc. Healthcare	Reduced	323,694	-34,357	$9,807,928	−15.6%	27.85%
RDNT	RadNet, Inc. Healthcare	Reduced	271,045	-92,270	$8,841,487	−2.8%	25.10%
CALX	Calix, Inc Technology	Held	102,895	0	$5,135,489	−6.9%	14.58%
VMD	Viemed Healthcare, Inc. Healthcare	Reduced	507,941	-68,897	$4,967,662	−10.9%	14.10%
DCGO	DocGo Inc. Healthcare	Added	330,592	+41,460	$3,097,647	+23.9%	8.79%
CIEN	Ciena Corp Technology	Held	44,632	0	$1,896,413	−19.1%	5.38%
TREE	LendingTree, Inc. Financial Services	Held	26,350	0	$582,598	−17.1%	1.65%
RBBN	Ribbon Communications Inc. Technology	Held	160,119	0	$446,732	−18.4%	1.27%
CRMT	Americas Carmart Inc Consumer Cyclical	Held	4,456	0	$444,619	+26.0%	1.26%