0000905148-11-001023.txt : 20110513
0000905148-11-001023.hdr.sgml : 20110513
20110513170458
ACCESSION NUMBER: 0000905148-11-001023
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20110331
FILED AS OF DATE: 20110513
DATE AS OF CHANGE: 20110513
EFFECTIVENESS DATE: 20110513
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: KBW, Inc.
CENTRAL INDEX KEY: 0001350173
IRS NUMBER: 134055775
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-13958
FILM NUMBER: 11842009
BUSINESS ADDRESS:
STREET 1: 787 SEVENTH AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10019
BUSINESS PHONE: 212-887-7777
MAIL ADDRESS:
STREET 1: 787 SEVENTH AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10019
13F-HR
1
efc11-333_fm13fhr.txt
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2011
--------------
Check here if Amendment [ ]: Amendment Number:
-----------------------
This Amendment (Check only one): | | is a restatement
| | adds new holdings entries
Institutional Investment Manager Filing this Report:
Name: KBW, Inc.
Address: 787 Seventh Avenue
4th Floor
New York, NY 10019
Form 13F File Number: 028-13958
---------
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Mitchell Kleinman
Title: Secretary and General Counsel
Phone: (212) 887-6788
Signature, Place and Date of Signing:
/s/ Mitchell Kleinman New York, New York May 13, 2011
------------------------------- ---------------------- --------------
[Signature] [City, State] [Date]
Report Type (Check only one):
|X| 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
| | 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
| | 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
-------------------
Form 13F Information Table Entry Total: 194
-------------------
Form 13F Information Table Value Total: $273,535
-------------------
(in thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
No. Form 13F File Number Name
1 028-13960 Keefe, Bruyette & Woods, Inc.
KBW, INC.
FORM 13F INFORMATION TABLE
Quarter Ended March 31, 2011
---------------------------------------------------------------------------------------------------------------------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
-------- --------- --- ---- ---------- -------- -----------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------------- ---------------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ------
ABINGTON BANCORP INC COM 00350L109 653 53,408 SH DEFINED 1 53,408
ACE LTD SHS H0023R105 1,553 24,000 SH DEFINED 1 24,000
AFLAC INC COM 001055102 4,222 80,000 SH DEFINED 80,000
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 313 5,000 SH DEFINED 1 5,000
ALTISOURCE PORTFOLIO SOLNS S REG SHS L0175J104 736 24,000 SH DEFINED 1 24,000
ALTISOURCE PORTFOLIO SOLNS S REG SHS L0175J104 2,393 78,000 SH DEFINED 78,000
AMERICAN CAPITAL AGENCY CORP COM 02503X105 2,389 82,000 SH DEFINED 82,000
AMERICAN EXPRESS CO COM 025816109 2,866 63,400 SH DEFINED 1 63,400
AMERICAN EXPRESS CO COM 025816109 3,842 85,000 SH DEFINED 85,000
AMERICAN FINL GROUP INC OHIO COM 025932104 2,178 62,200 SH DEFINED 1 62,200
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 779 70,000 SH DEFINED 1 70,000
AMERICAN INTL GROUP INC UNIT 99/99/9999 026874115 180 40,000 SH DEFINED 1 40,000
AMERIPRISE FINL INC COM 03076C106 244 4,000 SH DEFINED 1 4,000
ANCHOR BANCORP WA COM 032838104 142 13,227 SH DEFINED 1 13,227
ANNALY CAP MGMT INC COM 035710409 698 40,000 SH PUT DEFINED 1 40,000
ANNALY CAP MGMT INC NOTE 4.000% 2/1 035710AA0 4,069 3,500,000 PRN DEFINED 1 NONE
ANNALY CAP MGMT INC NOTE 4.000% 2/1 035710AA0 1,510 1,300,000 PRN DEFINED NONE
AON CORP COM 037389103 890 16,800 SH DEFINED 1 16,800
APOLLO INVT CORP COM 03761U106 181 15,000 SH DEFINED 1 15,000
ARMOUR RESIDENTIAL REIT INC *W EXP 11/07/201 042315119 18 351,600 SH DEFINED 351,600
AXIS CAPITAL HOLDINGS SHS G0692U109 349 10,000 SH DEFINED 1 10,000
BANCORP INC DEL COM 05969A105 183 19,800 SH DEFINED 19,800
BANK OF AMERICA CORPORATION COM 060505104 1,741 130,600 SH DEFINED 1 130,600
BANK OF AMERICA CORPORATION *W EXP 01/16/201 060505146 407 53,000 SH DEFINED 53,000
BANK OF MARIN BANCORP COM 063425102 208 5,586 SH DEFINED 1 5,586
BANK OF NEW YORK MELLON CORP COM 064058100 1,195 40,000 SH CALL DEFINED 40,000
BARCLAYS BK PLC IPTH S&P VIX NEW 06740C261 1,762 60,000 SH DEFINED 1 60,000
BARCLAYS BK PLC IPTH S&P VIX NEW 06740C261 441 15,000 SH CALL DEFINED 1 15,000
BERKSHIRE HILLS BANCORP INC COM 084680107 524 25,139 SH DEFINED 1 25,139
BLACKROCK INC COM 09247X101 603 3,000 SH DEFINED 1 3,000
BRIDGE CAP HLDGS COM 108030107 435 46,600 SH DEFINED 46,600
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 1,688 52,000 SH DEFINED 52,000
BROOKLINE BANCORP INC DEL COM 11373M107 316 30,000 SH DEFINED 1 30,000
BRYN MAWR BK CORP COM 117665109 3,032 147,409 SH DEFINED 1 147,409
CALAMOS ASSET MGMT INC CL A 12811R104 561 33,800 SH DEFINED 1 33,800
CAPE BANCORP INC COM 139209100 1,551 157,500 SH DEFINED 157,500
CAPITAL ONE FINL CORP *W EXP 11/14/201 14040H139 642 29,700 SH DEFINED 1 29,700
CAPITALSOURCE INC DBCV 3.500% 7/1 14055XAD4 1,001 1,000,000 PRN DEFINED 1 NONE
CAPITALSOURCE INC COM 14055X102 373 53,000 SH DEFINED 1 53,000
CAPITOL FED FINL INC COM 14057J101 500 44,325 SH DEFINED 1 44,325
CAPLEASE INC COM 140288101 108 19,778 SH DEFINED 1 19,778
CARVER BANCORP INC COM 146875109 128 142,600 SH DEFINED 1 142,600
CENTER FINL CORP CALIF COM 15146E102 520 70,857 SH DEFINED 1 70,857
CENTERSTATE BANKS INC COM 15201P109 92 13,110 SH DEFINED 1 13,110
CHEMICAL FINL CORP COM 163731102 425 21,300 SH DEFINED 1 21,300
CHUBB CORP COM 171232101 1,741 28,400 SH DEFINED 1 28,400
CIT GROUP INC COM NEW 125581801 5,532 130,000 SH DEFINED 1 130,000
CIT GROUP INC COM NEW 125581801 6,383 150,000 SH DEFINED 150,000
CITIGROUP INC *W EXP 01/04/201 172967226 2,200 2,391,150 SH DEFINED 1 2,391,150
CITIGROUP INC *W EXP 10/28/201 172967234 527 2,772,392 SH DEFINED 1 2,772,392
CITIGROUP INC COM 172967101 4,111 930,000 SH DEFINED 1 930,000
CITIGROUP INC COM 172967101 4,420 1,000,000 SH DEFINED 1,000,000
CITIGROUP INC COM 172967101 221 50,000 SH CALL DEFINED 1 50,000
CITIGROUP INC COM 172967101 751 170,000 SH CALL DEFINED 170,000
CITIZENS SOUTH BKG CP DEL COM 176682102 268 60,219 SH DEFINED 1 60,219
COLONY FINL INC COM 19624R106 1,883 100,000 SH DEFINED 1 100,000
COLUMBIA BKG SYS INC COM 197236102 776 40,502 SH DEFINED 1 40,502
COMMUNITY BANKERS TR CORP COM 203612106 957 825,113 SH DEFINED 825,113
CRESCENT FINL CORP COM 225744101 745 184,000 SH DEFINED 184,000
CVB FINL CORP COM 126600105 113 12,178 SH DEFINED 1 12,178
CYPRESS SHARPRIDGE INVTS INC COM 23281A307 3,436 271,000 SH DEFINED 271,000
DELPHI FINL GROUP INC CL A 247131105 614 20,000 SH DEFINED 1 20,000
DORAL FINL CORP COM NEW 25811P886 15 14,000 SH DEFINED 1 14,000
EASTERN VA BANKSHARES INC COM 277196101 740 205,620 SH DEFINED 1 205,620
ENCORE CAP GROUP INC COM 292554102 237 10,000 SH DEFINED 1 10,000
ESSA BANCORP INC COM 29667D104 198 15,000 SH DEFINED 1 15,000
FBR CAPITAL MARKETS CORP COM 30247C301 215 60,000 SH DEFINED 1 60,000
FELCOR LODGING TR INC PFD CV A $1.95 31430F200 677 25,000 SH DEFINED 1 25,000
FIDELITY NATIONAL FINANCIAL CL A 31620R105 918 65,000 SH DEFINED 1 65,000
FIFTH THIRD BANCORP COM 316773100 3,746 269,800 SH DEFINED 1 269,800
FIFTH THIRD BANCORP COM 316773100 1,389 100,000 SH DEFINED 100,000
FINANCIAL INSTNS INC COM 317585404 642 36,643 SH DEFINED 1 36,643
FIRST BANCORP P R COM NEW 318672706 200 40,099 SH DEFINED 1 40,099
FIRST CALIFORNIA FINANCIAL G COM NEW 319395109 301 80,230 SH DEFINED 1 80,230
FIRST CALIFORNIA FINANCIAL G COM NEW 319395109 2,681 714,977 SH DEFINED 714,977
FIRST DEFIANCE FINL CORP COM 32006W106 290 20,214 SH DEFINED 1 20,214
FIRST DEFIANCE FINL CORP COM 32006W106 1,893 132,000 SH DEFINED 132,000
FIRST FINL HLDGS INC COM 320239106 339 30,000 SH DEFINED 1 30,000
FIRST NIAGARA FINL GP INC COM 33582V108 1,447 106,517 SH DEFINED 1 106,517
FIRST PL FINL CORP COM 33610T109 178 80,000 SH DEFINED 1 80,000
FIRSTMERIT CORP COM 337915102 229 13,400 SH DEFINED 1 13,400
FLUSHING FINL CORP COM 343873105 895 60,080 SH DEFINED 1 60,080
FORTRESS INVESTMENT GROUP LL CL A 34958B106 4,118 725,000 SH DEFINED 1 725,000
FORTRESS INVESTMENT GROUP LL CL A 34958B106 1,704 300,000 SH DEFINED 300,000
FRANKLIN RES INC COM 354613101 1,901 15,200 SH DEFINED 1 15,200
GLEACHER & CO INC COM 377341102 261 150,283 SH DEFINED 1 150,283
GOLDMAN SACHS GROUP INC COM 38141G104 3,172 20,000 SH DEFINED 20,000
GS FINL CORP COM 362274102 236 11,546 SH DEFINED 1 11,546
HAMPDEN BANCORP INC COM 40867E107 938 70,439 SH DEFINED 1 70,439
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 367 20,000 SH DEFINED 1 20,000
HARTFORD FINL SVCS GROUP INC COM 416515104 3,232 120,000 SH DEFINED 120,000
HATTERAS FINL CORP COM 41902R103 3,712 132,000 SH DEFINED 1 132,000
HERITAGE FINL CORP WASH COM 42722X106 1,460 103,000 SH DEFINED 103,000
HERITAGE FINL GROUP INC COM 42726X102 732 57,500 SH DEFINED 57,500
HORACE MANN EDUCATORS CORP N COM 440327104 1,206 71,800 SH DEFINED 1 71,800
IMPERIAL HLDGS INC COM 452834104 1,214 119,560 SH DEFINED 119,560
JANUS CAP GROUP INC COM 47102X105 449 36,000 SH DEFINED 1 36,000
JEFFERSON BANCSHARES INC TEN COM 472375104 65 18,721 SH DEFINED 1 18,721
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 672 40,000 SH DEFINED 1 40,000
JPMORGAN CHASE & CO COM 46625H100 2,536 55,000 SH DEFINED 1 55,000
JPMORGAN CHASE & CO COM 46625H100 2,305 50,000 SH DEFINED 50,000
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 420 25,000 SH DEFINED 25,000
KAISER FED FINL GROUP INC COM 483056107 538 43,749 SH DEFINED 1 43,749
KAISER FED FINL GROUP INC COM 483056107 926 75,300 SH DEFINED 75,300
KENNEDY-WILSON HLDGS INC COM 489398107 3,980 366,500 SH DEFINED 366,500
KEYCORP NEW COM 493267108 4,174 470,000 SH DEFINED 1 470,000
KINGSWAY FINL SVCS INC COM 496904103 812 873,000 SH DEFINED 873,000
KKR & CO L P DEL COM UNITS 48248M102 4,383 267,100 SH DEFINED 1 267,100
KKR FINANCIAL HLDGS LLC COM 48248A306 1,135 115,900 SH DEFINED 115,900
LABRANCHE & CO INC COM 505447102 237 60,211 SH DEFINED 1 60,211
LENNAR CORP CL A 526057104 181 10,000 SH DEFINED 1 10,000
M & T BK CORP COM 55261F104 1,592 18,000 SH DEFINED 1 18,000
M & T BK CORP COM 55261F104 4,424 50,000 SH DEFINED 50,000
MARRIOTT INTL INC NEW CL A 571903202 228 6,400 SH DEFINED 1 6,400
MARSHALL & ILSLEY CORP NEW COM 571837103 876 109,600 SH DEFINED 1 109,600
METLIFE INC COM 59156R108 3,355 75,000 SH DEFINED 75,000
MFA FINANCIAL INC COM 55272X102 1,337 163,000 SH DEFINED 1 163,000
NELNET INC CL A 64031N108 3,711 170,000 SH DEFINED 1 170,000
NEW ENGLAND BANCSHARES INC C COM NEW 643863202 771 79,688 SH DEFINED 1 79,688
NEW ENGLAND BANCSHARES INC C COM NEW 643863202 1,064 110,000 SH DEFINED 110,000
NEWALLIANCE BANCSHARES INC COM 650203102 1,103 74,335 SH DEFINED 1 74,335
NEWSTAR FINANCIAL INC COM 65251F105 109 10,000 SH DEFINED 1 10,000
NEWSTAR FINANCIAL INC COM 65251F105 1,714 157,000 SH DEFINED 157,000
NYSE EURONEXT COM 629491101 615 17,500 SH DEFINED 1 17,500
NYSE EURONEXT COM 629491101 879 25,000 SH DEFINED 25,000
OCH ZIFF CAP MGMT GROUP CL A 67551U105 1,201 73,600 SH DEFINED 1 73,600
OCWEN FINL CORP COM NEW 675746309 1,984 180,000 SH DEFINED 1 180,000
OPTIONSXPRESS HLDGS INC COM 684010101 914 50,000 SH DEFINED 1 50,000
ORIENTAL FINL GROUP INC COM 68618W100 628 50,071 SH DEFINED 1 50,071
ORIENTAL FINL GROUP INC COM 68618W100 1,468 116,981 SH DEFINED 116,981
ORITANI FINL CORP DEL COM 68633D103 1,106 87,200 SH DEFINED 1 87,200
PARK STERLING CORP COM 70086Y105 4,143 854,134 SH DEFINED 1 854,134
PARK STERLING CORP COM 70086Y105 1,673 345,000 SH DEFINED 345,000
PENNYMAC MTG INVT TR COM 70931T103 1,278 69,500 SH DEFINED 69,500
PEOPLES UNITED FINANCIAL INC COM 712704105 2,103 167,135 SH DEFINED 1 167,135
PHH CORP COM NEW 693320202 2,678 123,000 SH DEFINED 1 123,000
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 464 31,000 SH DEFINED 1 31,000
PNC FINL SVCS GROUP INC COM 693475105 4,157 66,000 SH DEFINED 1 66,000
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 479 32,000 SH DEFINED 32,000
POPULAR INC COM 733174106 92 31,433 SH DEFINED 1 31,433
PREFERRED BK LOS ANGELES CA COM 740367107 1,045 711,000 SH DEFINED 711,000
PRIMERICA INC COM 74164M108 1,786 70,000 SH DEFINED 70,000
PROASSURANCE CORP COM 74267C106 2,129 33,600 SH DEFINED 1 33,600
PROSHARES TR SHT KBW REGBNK 74347X476 7,371 130,000 SH DEFINED 1 130,000
PROTECTIVE LIFE CORP COM 743674103 1,593 60,000 SH DEFINED 1 60,000
PRUDENTIAL FINL INC COM 744320102 2,303 37,400 SH DEFINED 1 37,400
PRUDENTIAL FINL INC COM 744320102 4,619 75,000 SH DEFINED 75,000
RADIAN GROUP INC COM 750236101 1,873 275,000 SH DEFINED 275,000
REINSURANCE GROUP AMER INC COM NEW 759351604 1,670 26,600 SH DEFINED 1 26,600
RENAISSANCERE HOLDINGS LTD COM G7496G103 814 11,800 SH DEFINED 1 11,800
ROCKVILLE FINL NEW INC COM 774188106 1,095 105,000 SH DEFINED 105,000
SAFETY INS GROUP INC COM 78648T100 1,476 32,000 SH DEFINED 1 32,000
SCHWAB CHARLES CORP NEW COM 808513105 721 40,000 SH PUT DEFINED 1 40,000
SEACOAST BKG CORP FLA COM 811707306 22 13,834 SH DEFINED 1 13,834
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1,475 90,000 SH CALL DEFINED 90,000
SIERRA BANCORP COM 82620P102 1,118 100,000 SH DEFINED 100,000
SLM CORP COM 78442P106 2,448 160,000 SH DEFINED 160,000
SLM CORP COM 78442P106 1,637 107,000 SH CALL DEFINED 107,000
SOLAR SR CAP LTD COM 83416M105 2,273 122,000 SH DEFINED 122,000
SPDR S&P 500 ETF TR TR UNIT 78462F103 2,652 20,000 SH PUT DEFINED 1 20,000
STARWOOD PPTY TR INC COM 85571B105 335 15,000 SH DEFINED 1 15,000
STATE STR CORP COM 857477103 2,957 65,800 SH DEFINED 1 65,800
STATE STR CORP COM 857477103 2,247 50,000 SH DEFINED 50,000
SUN BANCORP INC COM 86663B102 63 18,103 SH DEFINED 1 18,103
SUNTRUST BKS INC COM 867914103 537 18,603 SH DEFINED 1 18,603
SUSQUEHANNA BANCSHARES INC P COM 869099101 374 40,000 SH DEFINED 1 40,000
SYNOVUS FINL CORP COM 87161C105 2,400 1,000,000 SH DEFINED 1,000,000
TD AMERITRADE HLDG CORP COM 87236Y108 626 30,000 SH PUT DEFINED 1 30,000
TFS FINL CORP COM 87240R107 1,115 105,000 SH DEFINED 105,000
TOWER BANCORP INC COM 891709107 216 9,676 SH DEFINED 1 9,676
TOWER BANCORP INC COM 891709107 2,340 105,000 SH DEFINED 105,000
TWO HBRS INVT CORP COM 90187B101 785 75,000 SH DEFINED 75,000
UMPQUA HLDGS CORP COM 904214103 210 18,337 SH DEFINED 1 18,337
UNITED CMNTY BKS BLAIRSVLE G CAP STK 90984P105 117 50,000 SH DEFINED 1 50,000
UNUM GROUP COM 91529Y106 1,554 59,200 SH DEFINED 1 59,200
US BANCORP DEL COM NEW 902973304 1,076 40,700 SH DEFINED 1 40,700
VALIDUS HOLDINGS LTD COM SHS G9319H102 1,007 30,200 SH DEFINED 1 30,200
VALLEY NATL BANCORP *W EXP 11/14/201 919794131 190 82,500 SH DEFINED 1 82,500
VISA INC COM CL A 92826C839 479 6,500 SH DEFINED 1 6,500
VISA INC COM CL A 92826C839 4,417 60,000 SH DEFINED 60,000
WALKER & DUNLOP INC COM 93148P102 1,429 117,600 SH DEFINED 1 117,600
WALKER & DUNLOP INC COM 93148P102 2,933 241,400 SH DEFINED 241,400
WELLS FARGO & CO NEW COM 949746101 1,427 45,000 SH DEFINED 45,000
WELLS FARGO & CO NEW COM 949746101 1,490 47,000 SH CALL DEFINED 47,000
WEST COAST BANCORP ORE NEW COM 952145100 69 19,959 SH DEFINED 1 19,959
WESTERN ALLIANCE BANCORP COM 957638109 164 20,000 SH DEFINED 1 20,000
WESTERN LIBERTY BANCORP COM 961443108 3,068 767,000 SH DEFINED 767,000
WESTFIELD FINANCIAL INC NEW COM 96008P104 960 106,000 SH DEFINED 106,000
WHITNEY HLDG CORP COM 966612103 1,271 93,307 SH DEFINED 1 93,307
WILLIS GROUP HOLDINGS PUBLIC SHS G96666105 1,719 42,600 SH DEFINED 1 42,600
WILMINGTON TRUST CORP COM 971807102 1,243 275,000 SH DEFINED 1 275,000
WOLVERINE BANCORP INC COM 977880103 188 13,000 SH DEFINED 1 13,000
WRIGHT EXPRESS CORP COM 98233Q105 415 8,000 SH DEFINED 1 8,000
ZIONS BANCORPORATION *W EXP 05/22/202 989701115 233 34,000 SH DEFINED 34,000