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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
+0.02%
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
$545M
AUM Growth
-$33M
(-5.7%)
Cap. Flow
-$32.3M
Cap. Flow
% of AUM
-5.92%
Top 10 Holdings %
Top 10 Hldgs %
68.39%
Holding
63
New
15
Increased
10
Reduced
11
Closed
24
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nexstar Media Group
NXST
|
+$33.9M |
| 2 |
WLH
WILLIAM LYON HOMES
WLH
|
+$28.2M |
| 3 |
Kayne Anderson Energy Infrastructure Fund
KYN
|
+$11.7M |
| 4 |
HOUS
Anywhere Real Estate
HOUS
|
+$9.41M |
| 5 |
M/I Homes
MHO
|
+$9.16M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sinclair Inc
SBGI
|
+$28.2M |
| 2 |
Axalta
AXTA
|
+$22M |
| 3 |
Service Corp International
SCI
|
+$18M |
| 4 |
Urban Outfitters
URBN
|
+$11.4M |
| 5 |
Lamar Advertising Co
LAMR
|
+$10.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 21.58% |
| 2 | Consumer Discretionary | 21.48% |
| 3 | Communication Services | 10.38% |
| 4 | Industrials | 2.97% |
| 5 | Utilities | 2.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TVPT
26
DELISTED
Travelport Worldwide Limited
TVPT
| $5.51M | 1.01% |
+427,399
| New | +$5.85M |
|
|
EXTN
27
DELISTED
Exterran Corporation
EXTN
| $5.43M | 1% |
+338,180
| New | +$5.33M |
|
|
MYCC
28
DELISTED
ClubCorp Holdings, Inc.
MYCC
| $4.84M | 0.89% |
264,832
+3,372
| +1% | +$65K |
|
|
TCO
29
DELISTED
Taubman Centers Inc.
TCO
| $4.7M | 0.86% |
61,225
| – | – |
|
30
Douglas Emmett
DEI
$2.03B
| $4.59M | 0.84% |
147,212
-34,879
| -19% | -$1.07M |
|
31
Hilton Worldwide
HLT
$75.3B
| $4.26M | 0.78% |
+66,311
| New | +$4.71M |
|
|
PN
32
DELISTED
Patriot National, Inc.
PN
| $2.62M | 0.48% |
389,964
+165,329
| +74% | +$2.04M |
|
|
CLNY
33
DELISTED
Colony Capital, Inc.
CLNY
| $2.62M | 0.48% |
134,292
+111,613
| +492% | +$2.27M |
|
34
Tronox
TROX
$973M
| $2.55M | 0.47% |
+651,242
| New | +$3.59M |
|
|
BRG
35
DELISTED
Bluerock Residential Growth REIT, Inc.
BRG
| $2M | 0.37% |
168,465
-71,572
| -30% | -$839K |
|
36
La-Z-Boy
LZB
$1.62B
| $1.93M | 0.35% |
78,968
-51,745
| -40% | -$1.39M |
|
|
GHY
37
PGIM Global High Yield Fund
GHY
$479M
| $802K | 0.15% |
+56,685
| New | +$802K |
|
38
BlackRock Debt Strategies Fund
DSU
$589M
| $76K | 0.01% |
+7,516
| New | +$76.2K |
|
|
ARI
39
Apollo Commercial Real Estate
ARI
$876M
| – | – |
-130,184
| Closed | -$2.04M |
|
40
Archrock
AROC
$6.26B
| – | – |
-137,890
| Closed | -$2.48M |
|
|
41
Axalta
AXTA
$7.22B
| – | – |
-866,725
| Closed | -$22M |
|
42
Blackstone Mortgage Trust
BXMT
$2.8B
| – | – |
-161,894
| Closed | -$4.44M |
|
43
Hovnanian Enterprises
HOV
$782M
| – | – |
-13,816
| Closed | -$611K |
|
44
Host Hotels & Resorts
HST
$17.1B
| – | – |
-546,384
| Closed | -$8.64M |
|
|
LADR
45
Ladder Capital
LADR
$1.24B
| – | – |
-265,016
| Closed | -$3.04M |
|
|
46
Lamar Advertising Co
LAMR
$16.3B
| – | – |
-206,510
| Closed | -$10.8M |
|
47
CALL
Macy's
M
$6.57B
| – | – |
-400,000
| Closed | -$20.5M |
|
48
National CineMedia
NCMI
$362M
| – | – |
-37,824
| Closed | -$5.08M |
|
49
Enpro
NPO
$6.95B
| – | – |
-134,009
| Closed | -$5.25M |
|
|
PMT
50
PennyMac Mortgage Investment
PMT
$839M
| – | – |
-361,421
| Closed | -$5.59M |
|
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ORG
ATWA
Gratia Capital's Q4 2015 Portfolio in Review
As of Q4 2015, Gratia Capital held 63 positions worth $545M, down 5.7% from $578M the previous quarter. Its ten largest holdings account for 68% of the portfolio.
Gratia Capital withdrew a net $32.3M in Q4 2015, closing 24 positions and reducing 11 holdings. Its most notable exit was Sinclair Inc, an estimated $28.2M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 22% of assets, down from 26% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Gratia Capital opened a new position in Nexstar Media Group worth $36M.
- Gratia Capital's largest Q4 2015 buy was Nexstar Media Group: 612,699 shares worth $36M.
- Gratia Capital added most to M/I Homes in Q4 2015, an estimated $9.16M increase.
- Gratia Capital's biggest Q4 2015 reduction was LGI Homes, cutting an estimated $6.77M.
- Gratia Capital fully exited Sinclair Inc in Q4 2015, selling an estimated $28.2M.
- Gratia Capital's ten largest holdings make up 68% of its $545M portfolio in Q4 2015.
- Gratia Capital opened 15 new positions and closed 24 in Q4 2015.
- Gratia Capital's portfolio value fell 5.7% quarter-over-quarter to $545M.
Based on Gratia Capital's 13F filing for Q4 2015, filed 12 Feb 2016.