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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
-5.14%
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
$217M
AUM Growth
-$114M
(-34%)
Cap. Flow
-$114M
Cap. Flow
% of AUM
-52.35%
Top 10 Holdings %
Top 10 Hldgs %
75.12%
Holding
55
New
15
Increased
3
Reduced
19
Closed
18
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
USX
U.S. Xpress Enterprises, Inc. Class A Common Stock
USX
|
+$18.4M |
| 2 |
M/I Homes
MHO
|
+$15.8M |
| 3 |
FG
FGL Holdings Ordinary Shares
FG
|
+$11.7M |
| 4 |
BERY
Berry Global Group, Inc.
BERY
|
+$8.91M |
| 5 |
Spectrum Brands
SPB
|
+$8.06M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$26.9M |
| 2 |
Insight Enterprises
NSIT
|
+$12.9M |
| 3 |
Nexstar Media Group
NXST
|
+$8.52M |
| 4 |
BlueLinx
BXC
|
+$7.72M |
| 5 |
LGI Homes
LGIH
|
+$6.68M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 27.16% |
| 2 | Real Estate | 16.63% |
| 3 | Materials | 10.43% |
| 4 | Consumer Discretionary | 7.06% |
| 5 | Communication Services | 6.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.3B
| $25.1M | 11.56% |
+205,900
| New | +$24.6M |
|
|
GMS
2
DELISTED
GMS Inc
GMS
| $21.5M | 9.9% |
792,301
+19,714
| +3% | +$598K |
|
|
USX
3
DELISTED
U.S. Xpress Enterprises, Inc. Class A Common Stock
USX
| $18.5M | 8.52% |
+1,219,783
| New | +$18.4M |
|
4
Newmark Group
NMRK
$2.76B
| $18.4M | 8.49% |
1,292,941
-275,002
| -18% | -$4.03M |
|
5
Century Communities
CCS
$1.98B
| $17.5M | 8.06% |
553,794
-148,121
| -21% | -$4.55M |
|
6
Martin Marietta Materials
MLM
$33.6B
| $14.5M | 6.7% |
65,013
+25,781
| +66% | +$5.5M |
|
|
7
M/I Homes
MHO
$3.83B
| $14.1M | 6.49% |
+531,106
| New | +$15.8M |
|
|
8
Nexstar Media Group
NXST
$5.6B
| $13.3M | 6.12% |
180,693
-126,058
| -41% | -$8.52M |
|
|
FG
9
DELISTED
FGL Holdings Ordinary Shares
FG
| $12.1M | 5.57% |
1,438,708
+1,280,000
| +807% | +$11.7M |
|
|
BERY
10
DELISTED
Berry Global Group, Inc.
BERY
| $8.1M | 3.74% |
+192,100
| New | +$8.91M |
|
|
11
Spectrum Brands
SPB
$2.03B
| $7.83M | 3.61% |
+95,900
| New | +$8.06M |
|
12
Masco
MAS
$16B
| $6.61M | 3.05% |
+176,608
| New | +$6.8M |
|
13
Construction Partners
ROAD
$5.86B
| $6.43M | 2.97% |
+488,630
| New | +$6.16M |
|
14
Universal Display
OLED
$3.71B
| $6.25M | 2.88% |
+72,685
| New | +$6.93M |
|
|
15
Insight Enterprises
NSIT
$3.59B
| $4.62M | 2.13% |
94,361
-299,240
| -76% | -$12.9M |
|
|
COHR
16
DELISTED
Coherent Inc
COHR
| $4.62M | 2.13% |
29,519
-27,062
| -48% | -$4.58M |
|
17
Owens Corning
OC
$11.5B
| $4.03M | 1.86% |
+63,600
| New | +$4.39M |
|
|
18
CALL
Newmark Group
NMRK
$2.76B
| $3.6M | 1.66% |
+252,800
| New | +$3.7M |
|
19
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$21.4B
| $1.22M | 0.56% |
22,330
-46,600
| -68% | -$2.46M |
|
|
NBEV
20
DELISTED
NewAge, Inc. Common Stock (Delaware)
NBEV
| $1.11M | 0.51% |
+592,199
| New | +$1.11M |
|
21
State Street SPDR S&P Retail ETF
XRT
$367M
| $1.05M | 0.48% |
21,537
-73,300
| -77% | -$3.42M |
|
22
US Foods
USFD
$21.4B
| $832K | 0.38% |
22,000
-47,300
| -68% | -$1.67M |
|
23
Service Corp International
SCI
$11.3B
| $809K | 0.37% |
22,601
-44,399
| -66% | -$1.65M |
|
|
BECN
24
DELISTED
Beacon Roofing Supply, Inc.
BECN
| $686K | 0.32% |
16,100
-7,742
| -32% | -$357K |
|
|
ILPT
25
Industrial Logistics Properties Trust
ILPT
$627M
| $566K | 0.26% |
25,337
-69,533
| -73% | -$1.47M |
|
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Gratia Capital's Q2 2018 Portfolio in Review
As of Q2 2018, Gratia Capital held 55 positions worth $217M, down 34% from $330M the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Gratia Capital withdrew a net $114M in Q2 2018, closing 18 positions and reducing 19 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $26.9M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 27% of assets, up from 11% a quarter earlier, followed by Real Estate and Materials.
Against the trend, Gratia Capital opened a new position in U.S. Xpress Enterprises, Inc. Class A Common Stock worth $18.5M.
- Gratia Capital's largest Q2 2018 buy was U.S. Xpress Enterprises, Inc. Class A Common Stock: 1,219,783 shares worth $18.5M.
- Gratia Capital added most to FGL Holdings Ordinary Shares in Q2 2018, an estimated $11.7M increase.
- Gratia Capital's biggest Q2 2018 reduction was Insight Enterprises, cutting an estimated $12.9M.
- Gratia Capital fully exited State Street SPDR S&P 500 ETF Trust in Q2 2018, selling an estimated $26.9M.
- Gratia Capital's ten largest holdings make up 75% of its $217M portfolio in Q2 2018.
- Gratia Capital opened 15 new positions and closed 18 in Q2 2018.
- Gratia Capital's portfolio value fell 34% quarter-over-quarter to $217M.
Based on Gratia Capital's 13F filing for Q2 2018, filed 13 Aug 2018.