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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
-7.95%
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
$276M
AUM Growth
-$269M
(-49%)
Cap. Flow
-$252M
Cap. Flow
% of AUM
-91.22%
Top 10 Holdings %
Top 10 Hldgs %
71.81%
Holding
49
New
8
Increased
6
Reduced
10
Closed
22
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dave & Buster's
PLAY
|
+$15.5M |
| 2 |
OPLN
Openlane
OPLN
|
+$8.35M |
| 3 |
Ball Corp
BALL
|
+$7.31M |
| 4 |
United Parks & Resorts
PRKS
|
+$6.62M |
| 5 |
MEG
Media General, Inc
MEG
|
+$3.81M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SAFE
Safehold
SAFE
|
+$27.8M |
| 2 |
CVA
Covanta Holding Corporation
CVA
|
+$14.2M |
| 3 |
Kayne Anderson Energy Infrastructure Fund
KYN
|
+$10.1M |
| 4 |
AHT
Ashford Hospitality Trust
AHT
|
+$9.82M |
| 5 |
FCE.A
Forest City Realty Trust, Inc.
FCE.A
|
+$9.57M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 35.87% |
| 2 | Communication Services | 24.73% |
| 3 | Real Estate | 18.28% |
| 4 | Energy | 1.12% |
| 5 | Financials | 0.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$782B
| $37M | 13.39% |
180,000
-532,200
| -75% | -$104M |
|
|
2
Dave & Buster's
PLAY
$352M
| $27.7M | 10.04% |
715,058
+422,800
| +145% | +$15.5M |
|
3
Nexstar Media Group
NXST
$5.65B
| $27.1M | 9.81% |
611,984
-715
| -0.1% | -$32.4K |
|
4
M/I Homes
MHO
$3.85B
| $23.6M | 8.53% |
1,262,880
-276,689
| -18% | -$4.98M |
|
|
WLH
5
DELISTED
WILLIAM LYON HOMES
WLH
| $22.2M | 8.04% |
1,532,671
+31,573
| +2% | +$374K |
|
|
FCE.A
6
DELISTED
Forest City Realty Trust, Inc.
FCE.A
| $18.7M | 6.78% |
888,009
-487,618
| -35% | -$9.57M |
|
7
Forestar Group
FOR
$1.46B
| $11.6M | 4.18% |
885,789
-438,963
| -33% | -$4.43M |
|
|
QVCGA
8
DELISTED
QVC Group Inc Series A
QVCGA
| $11.5M | 4.17% |
9,408
+1,869
| +25% | +$2.28M |
|
9
Live Nation Entertainment
LYV
$41.2B
| $9.64M | 3.49% |
432,231
+89,444
| +26% | +$1.95M |
|
10
Lindblad Expeditions
LIND
$1.83B
| $9.31M | 3.37% |
936,973
-861,411
| -48% | -$8.69M |
|
|
OPLN
11
Openlane
OPLN
$4.19B
| $9.1M | 3.29% |
+630,209
| New | +$8.35M |
|
|
BHR
12
Braemar Hotels & Resorts
BHR
$157M
| $8.07M | 2.92% |
698,274
-34,852
| -5% | -$371K |
|
|
SFR
13
DELISTED
Starwood Waypoint Homes
SFR
| $7.72M | 2.8% |
312,111
-107,417
| -26% | -$2.4M |
|
|
14
Ball Corp
BALL
$16.8B
| $7.64M | 2.77% |
+214,434
| New | +$7.31M |
|
|
15
United Parks & Resorts
PRKS
$2.14B
| $7.46M | 2.7% |
+354,308
| New | +$6.62M |
|
|
MYCC
16
DELISTED
ClubCorp Holdings, Inc.
MYCC
| $4.56M | 1.65% |
324,879
+60,047
| +23% | +$792K |
|
17
Douglas Emmett
DEI
$2.07B
| $4.43M | 1.6% |
147,212
| – | – |
|
|
MEG
18
DELISTED
Media General, Inc
MEG
| $3.85M | 1.4% |
+236,278
| New | +$3.81M |
|
|
CLNY
19
DELISTED
Colony Capital, Inc.
CLNY
| $3.65M | 1.32% |
217,857
+83,565
| +62% | +$1.4M |
|
20
LGI Homes
LGIH
$1.4B
| $3.46M | 1.25% |
143,100
-106,900
| -43% | -$2.38M |
|
|
MIC
21
DELISTED
Macquarie Infrastructure Holdings, LLC
MIC
| $3.09M | 1.12% |
+45,765
| New | +$2.9M |
|
22
Stewart Information Services
STC
$2.07B
| $2.04M | 0.74% |
+56,200
| New | +$1.9M |
|
|
SALE
23
DELISTED
RetailMeNot, Inc. Series 1
SALE
| $1.35M | 0.49% |
+169,059
| New | +$1.38M |
|
24
Bausch Health
BHC
$1.67B
| $670K | 0.24% |
+25,469
| New | +$1.88M |
|
25
La-Z-Boy
LZB
$1.59B
| $260K | 0.09% |
9,711
-69,257
| -88% | -$1.62M |
|
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Gratia Capital's Q1 2016 Portfolio in Review
As of Q1 2016, Gratia Capital held 49 positions worth $276M, down 49% from $545M the previous quarter. Its ten largest holdings account for 72% of the portfolio.
Gratia Capital withdrew a net $252M in Q1 2016, closing 22 positions and reducing 10 holdings. Its most notable exit was Safehold, an estimated $27.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 36% of assets, up from 21% a quarter earlier, followed by Communication Services and Real Estate.
Against the trend, Gratia Capital opened a new position in Openlane worth $9.1M.
- Gratia Capital's largest Q1 2016 buy was Openlane: 630,209 shares worth $9.1M.
- Gratia Capital added most to Dave & Buster's in Q1 2016, an estimated $15.5M increase.
- Gratia Capital's biggest Q1 2016 reduction was Forest City Realty Trust, Inc., cutting an estimated $9.57M.
- Gratia Capital fully exited Safehold in Q1 2016, selling an estimated $27.8M.
- Gratia Capital's ten largest holdings make up 72% of its $276M portfolio in Q1 2016.
- Gratia Capital opened 8 new positions and closed 22 in Q1 2016.
- Gratia Capital's portfolio value fell 49% quarter-over-quarter to $276M.
Based on Gratia Capital's 13F filing for Q1 2016, filed 13 May 2016.