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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
+4.65%
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
$51.9M
AUM Growth
+$25.9M
(+99%)
Cap. Flow
+$24.3M
Cap. Flow
% of AUM
46.83%
Top 10 Holdings %
Top 10 Hldgs %
87.63%
Holding
29
New
10
Increased
4
Reduced
4
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HMHC
Houghton Mifflin Harcourt Company
HMHC
|
+$1.85M |
| 2 |
CBPX
CONTINENTAL BUILDING PRODUCTS, INC.
CBPX
|
+$1.73M |
| 3 |
Dave & Buster's
PLAY
|
+$1.53M |
| 4 |
Mayville Engineering Co
MEC
|
+$1.28M |
| 5 |
NWHM
THE NEW HOME COMPANY INC.
NWHM
|
+$979K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
OneSpaWorld
OSW
|
+$2.52M |
| 2 |
BERY
Berry Global Group, Inc.
BERY
|
+$2.44M |
| 3 |
M/I Homes
MHO
|
+$1.48M |
| 4 |
Century Communities
CCS
|
+$1.25M |
| 5 |
Martin Marietta Materials
MLM
|
+$984K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 12.1% |
| 2 | Financials | 8.78% |
| 3 | Consumer Discretionary | 7.59% |
| 4 | Communication Services | 7.5% |
| 5 | Industrials | 6.44% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$781B
| $12.9M | 24.82% |
+44,000
| New | +$12.7M |
|
2
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.3B
| $7.97M | 15.34% |
+60,000
| New | +$7.62M |
|
|
3
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$781B
| $6.45M | 12.41% |
+22,000
| New | +$6.34M |
|
|
FG
4
DELISTED
FGL Holdings Ordinary Shares
FG
| $3.63M | 7% |
432,631
-36,000
| -8% | -$302K |
|
|
5
Century Communities
CCS
$1.98B
| $3.51M | 6.76% |
131,974
-47,300
| -26% | -$1.25M |
|
6
Newmark Group
NMRK
$2.76B
| $2.77M | 5.34% |
308,980
+21,300
| +7% | +$179K |
|
|
WLH
7
DELISTED
WILLIAM LYON HOMES
WLH
| $2.77M | 5.34% |
152,146
+22,700
| +18% | +$409K |
|
|
CBPX
8
DELISTED
CONTINENTAL BUILDING PRODUCTS, INC.
CBPX
| $2.6M | 5.01% |
98,000
+68,953
| +237% | +$1.73M |
|
|
HMHC
9
DELISTED
Houghton Mifflin Harcourt Company
HMHC
| $1.6M | 3.09% |
+278,298
| New | +$1.85M |
|
10
Smith & Wesson
SWBI
$657M
| $1.3M | 2.51% |
187,995
-2,992
| -2% | -$21.2K |
|
|
11
Dave & Buster's
PLAY
$349M
| $1.21M | 2.34% |
+30,000
| New | +$1.53M |
|
|
12
Mayville Engineering Co
MEC
$779M
| $1.15M | 2.21% |
+83,113
| New | +$1.28M |
|
13
Zillow
Z
$6.99B
| $1.08M | 2.07% |
+23,200
| New | +$924K |
|
14
BGC Group
BGC
$5.56B
| $925K | 1.78% |
176,815
| – | – |
|
|
NWHM
15
DELISTED
THE NEW HOME COMPANY INC.
NWHM
| $829K | 1.6% |
+215,200
| New | +$979K |
|
|
GMS
16
DELISTED
GMS Inc
GMS
| $442K | 0.85% |
20,096
-25,300
| -56% | -$454K |
|
17
Custom Truck One Source
CTOS
$2.46B
| $387K | 0.75% |
+37,757
| New | +$388K |
|
18
Legacy Housing
LEGH
$627M
| $337K | 0.65% |
27,048
+19,048
| +238% | +$231K |
|
19
Babcock & Wilcox
BW
$1.52B
| $69K | 0.13% |
+20,322
| New | +$78.4K |
|
|
AL
20
CALL
DELISTED
Air Lease Corp
AL
| – | – |
-26,000
| Closed | -$893K |
|
|
BRSL
21
Brightstar Lottery PLC
BRSL
$1.93B
| – | – |
-30,125
| Closed | -$391K |
|
|
RJET
22
Republic Airways Holdings
RJET
$810M
| – | – |
-2,152
| Closed | -$269K |
|
|
23
M/I Homes
MHO
$3.83B
| – | – |
-55,686
| Closed | -$1.48M |
|
|
24
Martin Marietta Materials
MLM
$33.6B
| – | – |
-4,892
| Closed | -$984K |
|
|
25
OneSpaWorld
OSW
$2.68B
| – | – |
-184,300
| Closed | -$2.52M |
|
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Gratia Capital's Q2 2019 Portfolio in Review
As of Q2 2019, Gratia Capital held 29 positions worth $51.9M, up 99% from $26M the previous quarter. Its ten largest holdings account for 88% of the portfolio.
Gratia Capital deployed $24.3M of net new capital in Q2 2019, opening 10 new positions and adding to 4 existing holdings. Its largest new stake was Houghton Mifflin Harcourt Company: 278,298 shares worth $1.6M.
By sector, the portfolio is most concentrated in Real Estate at 12% of assets, down from 26% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was Century Communities, an estimated $1.25M trimmed.
- Gratia Capital's largest Q2 2019 buy was Houghton Mifflin Harcourt Company: 278,298 shares worth $1.6M.
- Gratia Capital added most to CONTINENTAL BUILDING PRODUCTS, INC. in Q2 2019, an estimated $1.73M increase.
- Gratia Capital's biggest Q2 2019 reduction was Century Communities, cutting an estimated $1.25M.
- Gratia Capital fully exited OneSpaWorld in Q2 2019, selling an estimated $2.52M.
- Gratia Capital's ten largest holdings make up 88% of its $51.9M portfolio in Q2 2019.
- Gratia Capital opened 10 new positions and closed 10 in Q2 2019.
- Gratia Capital's portfolio value rose 99% quarter-over-quarter to $51.9M.
Based on Gratia Capital's 13F filing for Q2 2019, filed 14 Aug 2019.