Gratia Capital’s Safehold SAFE Stock Holding History

Gratia Capital’s Portfolio SAFE Stock Details SAFE Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-487,322	Closed	-$27.8M	–	38
2015 Q4	$27.8M	Buy	487,322 +20,665	+4%	+$1.26M	5.1%	5
2015 Q3	$28.6M	Buy	466,657 +299,324	+179%	+$18.8M	4.94%	3
2015 Q2	$10.8M	Buy	+167,333	New	+$11.3M	2.87%	8

Other funds holding SAFE

Diamond Hill Capital Management Columbus, Ohio $16B AUM 4.15% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

Valinor Management New York $32.2M AUM 44.16% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

LCP

Lombardia Capital Partners Pasadena, California $110M AUM 13.11% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

OppenheimerFunds New York $80.4B AUM 15.1% 1-Year Est. Return

Gratia Capital's SAFE Position: Q1 2016 in Review

Gratia Capital sold out of Safehold (SAFE) in Q1 2016, closing a stake of 487,322 shares — an estimated $27.8M sold.

Gratia Capital first reported a position in SAFE in Q2 2015 and held it in 3 quarters. The position peaked at $28.6M in Q3 2015. 129 funds tracked by Wall St. Rank hold SAFE as of Q1 2016.

Gratia Capital reported no remaining Safehold position as of Q1 2016 after selling out during the quarter.
Gratia Capital sold 487,322 Safehold shares in Q1 2016, an estimated $27.8M.
Gratia Capital first reported a position in Safehold in Q2 2015 and held it in 3 quarters.
Gratia Capital's Safehold position peaked at $28.6M in Q3 2015.
129 funds tracked by Wall St. Rank held Safehold as of Q1 2016.

Based on Gratia Capital's 13F filing for Q1 2016, filed 13 May 2016.