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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 | |
|---|---|---|---|---|---|---|
1
Forestar Group
FOR
$1.46B
| $9.67M | 4.94% |
506,692
+122,152
| +32% | +$2.17M |
|
2
Service Corp International
SCI
$11.3B
| $8.58M | 4.38% |
414,042
-185,306
| -31% | -$3.62M |
|
|
DDC
3
DELISTED
Dominion Diamond Corporation
DDC
| $8.23M | 4.2% |
569,556
+96,206
| +20% | +$1.26M |
|
|
CVA
4
DELISTED
Covanta Holding Corporation
CVA
| $8.06M | 4.11% |
390,991
-107,105
| -22% | -$2.02M |
|
5
Take-Two Interactive
TTWO
$43.1B
| $7.95M | 4.06% |
357,554
+47,789
| +15% | +$978K |
|
|
VER
6
CALL
DELISTED
VEREIT, Inc.
VER
| $7.67M | 3.91% |
+1,225
| New | +$78.7K |
|
|
BID
7
DELISTED
Sotheby's
BID
| $7.62M | 3.89% |
+181,435
| New | +$7.39M |
|
8
LGI Homes
LGIH
$1.4B
| $6.53M | 3.33% |
357,747
+143,743
| +67% | +$2.37M |
|
9
CALL
PepsiCo
PEP
$186B
| $6.43M | 3.28% |
720
-135,480
| -99% | -$11.7M |
|
|
DRII
10
DELISTED
DIAMOND RESORTS INTL, INC
DRII
| $6.07M | 3.1% |
+260,949
| New | +$5.12M |
|
|
VER
11
DELISTED
VEREIT, Inc.
VER
| $5.91M | 3.02% |
94,341
+32,841
| +53% | +$2.11M |
|
|
12
Lamar Advertising Co
LAMR
$16.1B
| $5.52M | 2.82% |
104,230
-89,068
| -46% | -$4.5M |
|
|
RCAP
13
DELISTED
RCS CAPITAL CORPORATION CLASS A COM
RCAP
| $5.5M | 2.81% |
+259,216
| New | +$7.68M |
|
|
CLNY
14
DELISTED
Colony Capital, Inc.
CLNY
| $5.46M | 2.79% |
235,377
-156,018
| -40% | -$3.43M |
|
|
15
Hilton Worldwide
HLT
$74.6B
| $5.38M | 2.74% |
+76,945
| New | +$5.12M |
|
|
LADR
16
Ladder Capital
LADR
$1.24B
| $5.08M | 2.59% |
350,583
-61,544
| -15% | -$905K |
|
|
ACAS
17
DELISTED
American Capital Ltd
ACAS
| $4.89M | 2.5% |
319,878
+142,234
| +80% | +$2.12M |
|
|
18
Brixmor Property Group
BRX
$9.95B
| $4.59M | 2.34% |
+200,173
| New | +$4.39M |
|
19
Installed Building Products
IBP
$6.18B
| $4.42M | 2.25% |
360,464
+153,232
| +74% | +$2.04M |
|
20
Aramark
ARMK
$15.2B
| $4.4M | 2.25% |
235,450
+33,938
| +17% | +$662K |
|
|
STAY
21
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
| $4.33M | 2.21% |
+187,104
| New | +$4.21M |
|
|
MYCC
22
DELISTED
ClubCorp Holdings, Inc.
MYCC
| $4M | 2.04% |
216,007
+7,767
| +4% | +$143K |
|
|
ACC
23
DELISTED
American Campus Communities, Inc.
ACC
| $3.7M | 1.89% |
96,723
+27,415
| +40% | +$1.05M |
|
|
RTK
24
DELISTED
Rentech, Inc.
RTK
| $3.58M | 1.83% |
138,125
+70,987
| +106% | +$1.58M |
|
|
CPWR
25
DELISTED
COMPUWARE CORP
CPWR
| $3.38M | 1.73% |
+352,664
| New | +$3.44M |
|
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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.