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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
+1.93%
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
$59.9M
AUM Growth
+$7.98M
(+15%)
Cap. Flow
+$6.99M
Cap. Flow
% of AUM
11.67%
Top 10 Holdings %
Top 10 Hldgs %
78.43%
Holding
31
New
12
Increased
7
Reduced
6
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Global Ship Lease
GSL
|
+$2.63M |
| 2 |
FS KKR Capital
FSK
|
+$2.48M |
| 3 |
NWHM
THE NEW HOME COMPANY INC.
NWHM
|
+$1.59M |
| 4 |
Mayville Engineering Co
MEC
|
+$1.22M |
| 5 |
Howard Hughes
HHH
|
+$1.01M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CBPX
CONTINENTAL BUILDING PRODUCTS, INC.
CBPX
|
+$2.6M |
| 2 |
Dave & Buster's
PLAY
|
+$1.21M |
| 3 |
BGC Group
BGC
|
+$925K |
| 4 |
WLH
WILLIAM LYON HOMES
WLH
|
+$837K |
| 5 |
GMS
GMS Inc
GMS
|
+$442K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 13.44% |
| 2 | Financials | 11.37% |
| 3 | Industrials | 11.14% |
| 4 | Consumer Discretionary | 8.94% |
| 5 | Communication Services | 4.33% |
| 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
| $13.2M | 22.04% |
44,500
+500
| +1% | +$148K |
|
2
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.3B
| $7.01M | 11.7% |
49,000
-11,000
| -18% | -$1.53M |
|
|
3
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$781B
| $5.64M | 9.41% |
19,000
-3,000
| -14% | -$886K |
|
4
Century Communities
CCS
$1.98B
| $4.29M | 7.16% |
139,974
+8,000
| +6% | +$223K |
|
|
FG
5
DELISTED
FGL Holdings Ordinary Shares
FG
| $3.48M | 5.82% |
436,681
+4,050
| +0.9% | +$32.2K |
|
6
CALL
SPDR Gold Trust
GLD
$131B
| $2.78M | 4.64% |
+20,000
| New | +$2.78M |
|
7
Newmark Group
NMRK
$2.76B
| $2.75M | 4.6% |
303,980
-5,000
| -2% | -$46.5K |
|
|
8
Global Ship Lease
GSL
$1.57B
| $2.73M | 4.57% |
+357,500
| New | +$2.63M |
|
|
NWHM
9
DELISTED
THE NEW HOME COMPANY INC.
NWHM
| $2.63M | 4.38% |
602,055
+386,855
| +180% | +$1.59M |
|
|
10
FS KKR Capital
FSK
$2.98B
| $2.47M | 4.12% |
+105,900
| New | +$2.48M |
|
|
11
Mayville Engineering Co
MEC
$779M
| $2.3M | 3.84% |
174,407
+91,294
| +110% | +$1.22M |
|
|
WLH
12
DELISTED
WILLIAM LYON HOMES
WLH
| $2.19M | 3.65% |
107,381
-44,765
| -29% | -$837K |
|
|
HMHC
13
DELISTED
Houghton Mifflin Harcourt Company
HMHC
| $1.9M | 3.18% |
356,998
+78,700
| +28% | +$444K |
|
14
CALL
Toll Brothers
TOL
$14.1B
| $1.03M | 1.71% |
+25,000
| New | +$922K |
|
|
15
Howard Hughes
HHH
$3.96B
| $1.01M | 1.69% |
+8,182
| New | +$1.01M |
|
16
KKR & Co
KKR
$88.7B
| $854K | 1.43% |
+31,800
| New | +$839K |
|
|
CNR
17
DELISTED
Cornerstone Building Brands, Inc.
CNR
| $759K | 1.27% |
+125,529
| New | +$686K |
|
18
Smith & Wesson
SWBI
$657M
| $752K | 1.26% |
167,171
-20,824
| -11% | -$126K |
|
19
Zillow
Z
$6.98B
| $692K | 1.16% |
23,200
| – | – |
|
|
20
CALL
Newmark Group
NMRK
$2.76B
| $453K | 0.76% |
+50,000
| New | +$465K |
|
21
Legacy Housing
LEGH
$627M
| $407K | 0.68% |
25,149
-1,899
| -7% | -$26K |
|
22
Chemours
CC
$2.61B
| $161K | 0.27% |
+10,800
| New | +$176K |
|
23
Kura Sushi USA
KRUS
$548M
| $138K | 0.23% |
+7,018
| New | +$154K |
|
24
Babcock & Wilcox
BW
$1.52B
| $127K | 0.21% |
26,607
+6,285
| +31% | +$24.1K |
|
25
Tronox
TROX
$1.01B
| $85K | 0.14% |
+10,200
| New | +$98.3K |
|
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Gratia Capital's Q3 2019 Portfolio in Review
As of Q3 2019, Gratia Capital held 31 positions worth $59.9M, up 15% from $51.9M the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Gratia Capital deployed $6.99M of net new capital in Q3 2019, opening 12 new positions and adding to 7 existing holdings. Its largest new stake was Global Ship Lease: 357,500 shares worth $2.73M.
By sector, the portfolio is most concentrated in Real Estate at 13% of assets, up from 12% a quarter earlier, followed by Financials and Industrials.
On the sell side, the largest reduction was WILLIAM LYON HOMES, an estimated $837K trimmed.
- Gratia Capital's largest Q3 2019 buy was Global Ship Lease: 357,500 shares worth $2.73M.
- Gratia Capital added most to THE NEW HOME COMPANY INC. in Q3 2019, an estimated $1.59M increase.
- Gratia Capital's biggest Q3 2019 reduction was WILLIAM LYON HOMES, cutting an estimated $837K.
- Gratia Capital fully exited CONTINENTAL BUILDING PRODUCTS, INC. in Q3 2019, selling an estimated $2.6M.
- Gratia Capital's ten largest holdings make up 78% of its $59.9M portfolio in Q3 2019.
- Gratia Capital opened 12 new positions and closed 5 in Q3 2019.
- Gratia Capital's portfolio value rose 15% quarter-over-quarter to $59.9M.
Based on Gratia Capital's 13F filing for Q3 2019, filed 14 Nov 2019.