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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
-9.68%
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
$159M
AUM Growth
-$58.1M
(-27%)
Cap. Flow
-$43.8M
Cap. Flow
% of AUM
-27.63%
Top 10 Holdings %
Top 10 Hldgs %
76.43%
Holding
46
New
9
Increased
2
Reduced
12
Closed
20
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Whirlpool
WHR
|
+$9.41M |
| 2 |
BRSL
Brightstar Lottery PLC
BRSL
|
+$6.49M |
| 3 |
HMHC
Houghton Mifflin Harcourt Company
HMHC
|
+$5.94M |
| 4 |
DFBG
Differential Brands Group Inc
DFBG
|
+$1.6M |
| 5 |
FG
FGL Holdings Ordinary Shares
FG
|
+$1.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nexstar Media Group
NXST
|
+$13.3M |
| 2 |
Martin Marietta Materials
MLM
|
+$11M |
| 3 |
Spectrum Brands
SPB
|
+$7.83M |
| 4 |
Universal Display
OLED
|
+$6.25M |
| 5 |
Insight Enterprises
NSIT
|
+$4.62M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 28.55% |
| 2 | Real Estate | 18.34% |
| 3 | Consumer Discretionary | 17.08% |
| 4 | Financials | 9.53% |
| 5 | Materials | 4.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
GMS
1
DELISTED
GMS Inc
GMS
| $16.7M | 10.55% |
721,433
-70,868
| -9% | -$1.8M |
|
2
Newmark Group
NMRK
$2.73B
| $15.3M | 9.65% |
1,369,021
+76,080
| +6% | +$990K |
|
3
CALL
BGC Group
BGC
$5.57B
| $14.7M | 9.24% |
+1,928,200
| New | +$14.3M |
|
|
FG
4
DELISTED
FGL Holdings Ordinary Shares
FG
| $14.3M | 9% |
1,596,017
+157,309
| +11% | +$1.4M |
|
|
USX
5
DELISTED
U.S. Xpress Enterprises, Inc. Class A Common Stock
USX
| $14M | 8.81% |
1,012,693
-207,090
| -17% | -$3.01M |
|
6
Century Communities
CCS
$2B
| $13.8M | 8.68% |
524,876
-28,918
| -5% | -$866K |
|
7
M/I Homes
MHO
$3.84B
| $11.4M | 7.2% |
477,668
-53,438
| -10% | -$1.39M |
|
|
8
Whirlpool
WHR
$2.42B
| $8.43M | 5.31% |
+71,000
| New | +$9.41M |
|
9
PUT
State Street SPDR S&P Retail ETF
XRT
$366M
| $6.5M | 4.1% |
+127,500
| New | +$6.47M |
|
|
HMHC
10
DELISTED
Houghton Mifflin Harcourt Company
HMHC
| $6.16M | 3.88% |
+880,086
| New | +$5.94M |
|
|
BRSL
11
Brightstar Lottery PLC
BRSL
$1.91B
| $5.89M | 3.71% |
+298,000
| New | +$6.49M |
|
12
Construction Partners
ROAD
$5.84B
| $5.35M | 3.37% |
442,179
-46,451
| -10% | -$567K |
|
|
BERY
13
DELISTED
Berry Global Group, Inc.
BERY
| $5.09M | 3.21% |
114,563
-77,537
| -40% | -$3.41M |
|
14
Masco
MAS
$16B
| $4.75M | 2.99% |
129,708
-46,900
| -27% | -$1.8M |
|
15
Owens Corning
OC
$11.5B
| $3.45M | 2.18% |
63,600
| – | – |
|
16
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
| $2.76M | 1.74% |
23,500
-182,400
| -89% | -$21.9M |
|
|
17
Martin Marietta Materials
MLM
$33.6B
| $2.15M | 1.36% |
11,832
-53,181
| -82% | -$11M |
|
|
DFBG
18
DELISTED
Differential Brands Group Inc
DFBG
| $1.35M | 0.85% |
+333,717
| New | +$1.6M |
|
19
PetMed Express
PETS
$42.3M
| $1.14M | 0.72% |
+34,453
| New | +$1.29M |
|
|
RJET
20
Republic Airways Holdings
RJET
$810M
| $1.04M | 0.66% |
+5,000
| New | +$1.02M |
|
|
COHR
21
DELISTED
Coherent Inc
COHR
| $1.04M | 0.65% |
6,030
-23,489
| -80% | -$4.13M |
|
|
22
Nexstar Media Group
NXST
$5.6B
| $953K | 0.6% |
11,708
-168,985
| -94% | -$13.3M |
|
|
23
BGC Group
BGC
$5.57B
| $840K | 0.53% |
+110,533
| New | +$818K |
|
|
24
CALL
Newmark Group
NMRK
$2.73B
| $727K | 0.46% |
65,000
-187,800
| -74% | -$2.44M |
|
|
FG.WS
25
DELISTED
FGL Holdings Warrants exercisable for one Ordinary Share at a price of $11.50 per share
FG.WS
| $559K | 0.35% |
283,333
| – | – |
|
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Gratia Capital's Q3 2018 Portfolio in Review
As of Q3 2018, Gratia Capital held 46 positions worth $159M, down 27% from $217M the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Gratia Capital withdrew a net $43.8M in Q3 2018, closing 20 positions and reducing 12 holdings. Its most notable exit was Spectrum Brands, an estimated $7.83M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 29% of assets, up from 27% a quarter earlier, followed by Real Estate and Consumer Discretionary.
Against the trend, Gratia Capital opened a new position in Whirlpool worth $8.43M.
- Gratia Capital's largest Q3 2018 buy was Whirlpool: 71,000 shares worth $8.43M.
- Gratia Capital added most to FGL Holdings Ordinary Shares in Q3 2018, an estimated $1.4M increase.
- Gratia Capital's biggest Q3 2018 reduction was Nexstar Media Group, cutting an estimated $13.3M.
- Gratia Capital fully exited Spectrum Brands in Q3 2018, selling an estimated $7.83M.
- Gratia Capital's ten largest holdings make up 76% of its $159M portfolio in Q3 2018.
- Gratia Capital opened 9 new positions and closed 20 in Q3 2018.
- Gratia Capital's portfolio value fell 27% quarter-over-quarter to $159M.
Based on Gratia Capital's 13F filing for Q3 2018, filed 14 Nov 2018.