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GC
Gratia Capital Portfolio holdings
AUM
$227M
1-Year Est. Return
16.14%
This Fund
S&P 500
This Quarter
Est. Return
+1.89%
1 Year Est. Return
+16.14%
3 Year Est. Return
+42.99%
5 Year Est. Return
+66.12%
10 Year Est. Return
+404.7%
AUM
$196M
AUM Growth
-$28.6M
(-13%)
Cap. Flow
-$43.1M
Cap. Flow
% of AUM
-21.99%
Top 10 Holdings %
Top 10 Hldgs %
39.2%
Holding
64
New
19
Increased
12
Reduced
15
Closed
15
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
RCAP
RCS CAPITAL CORPORATION CLASS A COM
RCAP
|
+$7.68M |
| 2 |
BID
Sotheby's
BID
|
+$7.39M |
| 3 |
DRII
DIAMOND RESORTS INTL, INC
DRII
|
+$5.12M |
| 4 |
Hilton Worldwide
HLT
|
+$5.12M |
| 5 |
Brixmor Property Group
BRX
|
+$4.39M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ProShares Short S&P500
SH
|
+$17.4M |
| 2 |
Lamar Advertising Co
LAMR
|
+$4.5M |
| 3 |
Assured Guaranty
AGO
|
+$4.35M |
| 4 |
PMT
PennyMac Mortgage Investment
PMT
|
+$4.19M |
| 5 |
Boston Properties
BXP
|
+$4.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 24.85% |
| 2 | Real Estate | 23.02% |
| 3 | Industrials | 7.03% |
| 4 | Materials | 6.02% |
| 5 | Communication Services | 5.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Altisource Portfolio Solutions
ASPS
$65.4M
| $3.28M | 1.67% |
3,581
| – | – |
|
|
PMT
27
PennyMac Mortgage Investment
PMT
$849M
| $3.2M | 1.63% |
145,997
-188,418
| -56% | -$4.19M |
|
28
M/I Homes
MHO
$3.83B
| $3.02M | 1.54% |
124,342
-29,801
| -19% | -$678K |
|
|
JGW
29
DELISTED
J G WENTWORTH CO CL A COM STK (DE)
JGW
| $2.91M | 1.49% |
258,820
-91,780
| -26% | -$1.14M |
|
30
Spectrum Brands
SPB
$2.04B
| $2.84M | 1.45% |
+33,054
| New | +$2.58M |
|
|
SUNE
31
DELISTED
SUNEDISON, INC COM
SUNE
| $2.83M | 1.44% |
+125,167
| New | +$2.43M |
|
32
EQT Corp
EQT
$33.2B
| $2.69M | 1.37% |
+46,228
| New | +$2.65M |
|
|
HPP
33
Hudson Pacific Properties
HPP
$834M
| $2.45M | 1.25% |
13,810
-5,449
| -28% | -$909K |
|
|
NWHM
34
DELISTED
THE NEW HOME COMPANY INC.
NWHM
| $2.3M | 1.17% |
162,696
-56,940
| -26% | -$755K |
|
|
35
Boston Properties
BXP
$11B
| $2.19M | 1.12% |
18,524
-34,705
| -65% | -$4.1M |
|
36
National CineMedia
NCMI
$354M
| $2.11M | 1.08% |
12,071
+3,488
| +41% | +$555K |
|
|
AMWD
37
DELISTED
American Woodmark
AMWD
| $2.1M | 1.07% |
65,822
| – | – |
|
|
TAST
38
DELISTED
Carrols Restaurant Group, Inc.
TAST
| $1.97M | 1% |
+276,097
| New | +$1.91M |
|
39
LXP Industrial Trust
LXP
$3.53B
| $1.83M | 0.93% |
+33,287
| New | +$1.84M |
|
40
Gaming and Leisure Properties
GLPI
$12.8B
| $1.81M | 0.93% |
+53,412
| New | +$1.87M |
|
|
AIV
41
Aimco
AIV
$380M
| $1.79M | 0.91% |
+415,824
| New | +$1.72M |
|
|
HA
42
DELISTED
Hawaiian Holdings, Inc.
HA
| $1.75M | 0.89% |
127,680
-171,686
| -57% | -$2.48M |
|
|
WPG
43
DELISTED
Washington Prime Group Inc.
WPG
| $1.41M | 0.72% |
+8,386
| New | +$1.46M |
|
|
EDR
44
DELISTED
Education Realty Trust Inc
EDR
| $1.01M | 0.52% |
+31,407
| New | +$971K |
|
45
Heritage Insurance Holdings
HRTG
$842M
| $853K | 0.44% |
+56,109
| New | +$776K |
|
|
AAMC
46
DELISTED
Altisource Asset Management Corp
AAMC
| $790K | 0.4% |
1,856
-3,202
| -63% | -$1.81M |
|
47
Rithm Capital
RITM
$5.09B
| $460K | 0.23% |
+36,481
| New | +$462K |
|
48
Cadiz
CDZI
$266M
| $289K | 0.15% |
34,689
| – | – |
|
|
49
Assured Guaranty
AGO
$3.78B
| – | – |
-171,805
| Closed | -$4.35M |
|
50
Dillards
DDS
$8.87B
| – | – |
-37,944
| Closed | -$3.51M |
|
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Gratia Capital's Q2 2014 Portfolio in Review
As of Q2 2014, Gratia Capital held 64 positions worth $196M, down 13% from $225M the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Gratia Capital withdrew a net $43.1M in Q2 2014, closing 15 positions and reducing 15 holdings. Its most notable exit was ProShares Short S&P500, an estimated $17.4M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 25% of assets, up from 20% a quarter earlier, followed by Real Estate and Industrials.
Against the trend, Gratia Capital opened a new position in RCS CAPITAL CORPORATION CLASS A COM worth $5.5M.
- Gratia Capital's largest Q2 2014 buy was RCS CAPITAL CORPORATION CLASS A COM: 259,216 shares worth $5.5M.
- Gratia Capital added most to LGI Homes in Q2 2014, an estimated $2.37M increase.
- Gratia Capital's biggest Q2 2014 reduction was Lamar Advertising Co, cutting an estimated $4.5M.
- Gratia Capital fully exited ProShares Short S&P500 in Q2 2014, selling an estimated $17.4M.
- Gratia Capital's ten largest holdings make up 39% of its $196M portfolio in Q2 2014.
- Gratia Capital opened 19 new positions and closed 15 in Q2 2014.
- Gratia Capital's portfolio value fell 13% quarter-over-quarter to $196M.
Based on Gratia Capital's 13F filing for Q2 2014, filed 7 Aug 2014.