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GC
Gratia Capital Portfolio holdings
AUM
$165M
1-Year Est. Return
34.15%
This Fund
S&P 500
This Quarter
Est. Return
+0.02%
1 Year Est. Return
+34.15%
3 Year Est. Return
+42.39%
5 Year Est. Return
+50.91%
10 Year Est. Return
+439.86%
AUM
$545M
AUM Growth
-$33M
(-5.7%)
Cap. Flow
-$46.3M
Cap. Flow
% of AUM
-8.5%
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 | Miscellaneous | 35.98% |
| 2 | Consumer Discretionary | 23.19% |
| 3 | Real Estate | 22.93% |
| 4 | Communication Services | 10.38% |
| 5 | Industrials | 2.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$814B
| $145M | 26.64% |
712,200
+175,300
| +33% | +$36M |
|
|
2
Nexstar Media Group
NXST
$5.45B
| $36M | 6.6% |
+612,699
| New | +$33.9M |
|
|
3
M/I Homes
MHO
$3.75B
| $33.7M | 6.19% |
1,539,569
+398,809
| +35% | +$9.16M |
|
|
FCE.A
4
DELISTED
Forest City Realty Trust, Inc.
FCE.A
| $30.2M | 5.53% |
1,375,627
-122,372
| -8% | -$2.67M |
|
|
SAFE
5
Safehold
SAFE
$1.07B
| $27.8M | 5.1% |
487,322
+20,665
| +4% | +$1.26M |
|
|
6
PUT
Nexstar Media Group
NXST
$5.45B
| $26.4M | 4.85% |
+450,000
| New | +$24.9M |
|
|
WLH
7
DELISTED
WILLIAM LYON HOMES
WLH
| $24.8M | 4.54% |
+1,501,098
| New | +$28.2M |
|
8
Lindblad Expeditions
LIND
$1.7B
| $20M | 3.67% |
1,798,384
-221,756
| -11% | -$2.34M |
|
9
Forestar Group
FOR
$1.42B
| $14.5M | 2.66% |
1,324,752
+387,853
| +41% | +$5.06M |
|
|
CVA
10
DELISTED
Covanta Holding Corporation
CVA
| $14.2M | 2.61% |
918,514
+25,248
| +3% | +$413K |
|
11
Dave & Buster's
PLAY
$303M
| $12.2M | 2.24% |
292,258
-81,772
| -22% | -$3.2M |
|
|
BHR
12
Braemar Hotels & Resorts
BHR
$130M
| $10.5M | 1.93% |
733,126
-5,431
| -0.7% | -$77.9K |
|
|
13
Kayne Anderson Energy Infrastructure Fund
KYN
$2.5B
| $10.1M | 1.86% |
+586,339
| New | +$11.7M |
|
|
QVCGA
14
DELISTED
QVC Group Inc Series A
QVCGA
| $10M | 1.83% |
7,539
+2,694
| +56% | +$3.53M |
|
|
AHT
15
Ashford Hospitality Trust
AHT
$20.3M
| $9.82M | 1.8% |
1,575
| – | – |
|
|
SFR
16
DELISTED
Starwood Waypoint Homes
SFR
| $9.5M | 1.74% |
419,528
+88,410
| +27% | +$2.1M |
|
|
MPSX
17
DELISTED
Multi Packaging Solutions Intl.
MPSX
| $9.31M | 1.71% |
+536,885
| New | +$9.12M |
|
|
HOUS
18
DELISTED
Anywhere Real Estate
HOUS
| $8.73M | 1.6% |
+238,134
| New | +$9.41M |
|
19
Live Nation Entertainment
LYV
$40.4B
| $8.42M | 1.55% |
342,787
-245,799
| -42% | -$6.3M |
|
20
Copart
CPRT
$31.2B
| $8.38M | 1.54% |
1,764,560
-307,920
| -15% | -$1.42M |
|
|
CDK
21
DELISTED
CDK Global, Inc.
CDK
| $7.81M | 1.43% |
164,571
| – | – |
|
|
SCU
22
CALL
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
| $7.05M | 1.29% |
+113,190
| New | +$7.74M |
|
23
LGI Homes
LGIH
$1.28B
| $6.08M | 1.12% |
250,000
-232,176
| -48% | -$6.77M |
|
24
Stellantis
STLA
$16.1B
| $5.98M | 1.1% |
+655,399
| New | +$6.15M |
|
25
CALL
iShares Russell 2000 ETF
IWM
$80.5B
| $5.63M | 1.03% |
50,000
-150,000
| -75% | -$17.3M |
|
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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 $46.3M 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 Miscellaneous at 36% of assets, up from 29% a quarter earlier, followed by Consumer Discretionary and Real Estate.
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.