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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
+8.95%
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
$82.8M
AUM Growth
+$22.9M
(+38%)
Cap. Flow
+$18M
Cap. Flow
% of AUM
21.72%
Top 10 Holdings %
Top 10 Hldgs %
77.36%
Holding
35
New
9
Increased
8
Reduced
4
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SIC
Select Interior Concepts, Inc. Class A Common Stock
SIC
|
+$2.66M |
| 2 |
Danaos Corp
DAC
|
+$2.18M |
| 3 |
Upbound Group
UPBD
|
+$1.68M |
| 4 |
BRMK
Broadmark Realty Capital Inc. Common Stock
BRMK
|
+$1.65M |
| 5 |
Gildan
GIL
|
+$1.05M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Global Ship Lease
GSL
|
+$2.73M |
| 2 |
FG
FGL Holdings Ordinary Shares
FG
|
+$1.72M |
| 3 |
Newmark Group
NMRK
|
+$1.12M |
| 4 |
Howard Hughes
HHH
|
+$1.01M |
| 5 |
KKR & Co
KKR
|
+$854K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 11.5% |
| 2 | Real Estate | 10.91% |
| 3 | Industrials | 6.88% |
| 4 | Financials | 5.99% |
| 5 | Communication Services | 4.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$777B
| $24.1M | 29.15% |
75,000
+30,500
| +69% | +$9.39M |
|
|
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$777B
| $16.1M | 19.43% |
50,000
+31,000
| +163% | +$9.55M |
|
3
Century Communities
CCS
$1.95B
| $4.34M | 5.24% |
158,774
+18,800
| +13% | +$550K |
|
|
NWHM
4
DELISTED
THE NEW HOME COMPANY INC.
NWHM
| $3.65M | 4.41% |
783,037
+180,982
| +30% | +$825K |
|
5
CALL
SPDR Gold Trust
GLD
$131B
| $2.86M | 3.45% |
20,000
| – | – |
|
|
HMHC
6
DELISTED
Houghton Mifflin Harcourt Company
HMHC
| $2.81M | 3.39% |
449,330
+92,332
| +26% | +$539K |
|
|
7
Newmark Group
NMRK
$2.76B
| $2.8M | 3.39% |
208,380
-95,600
| -31% | -$1.12M |
|
|
FG
8
DELISTED
FGL Holdings Ordinary Shares
FG
| $2.63M | 3.18% |
247,320
-189,361
| -43% | -$1.72M |
|
9
Mayville Engineering Co
MEC
$769M
| $2.41M | 2.91% |
257,375
+82,968
| +48% | +$861K |
|
10
FS KKR Capital
FSK
$2.97B
| $2.33M | 2.81% |
94,925
-10,975
| -10% | -$262K |
|
|
SIC
11
DELISTED
Select Interior Concepts, Inc. Class A Common Stock
SIC
| $2.25M | 2.71% |
+250,000
| New | +$2.66M |
|
|
12
Danaos Corp
DAC
$2.53B
| $2.07M | 2.5% |
+225,496
| New | +$2.18M |
|
|
WLH
13
DELISTED
WILLIAM LYON HOMES
WLH
| $1.95M | 2.35% |
97,381
-10,000
| -9% | -$204K |
|
|
BRMK
14
DELISTED
Broadmark Realty Capital Inc. Common Stock
BRMK
| $1.89M | 2.28% |
+148,427
| New | +$1.65M |
|
|
15
Upbound Group
UPBD
$1.23B
| $1.85M | 2.24% |
+64,300
| New | +$1.68M |
|
|
16
CALL
Century Communities
CCS
$1.95B
| $1.64M | 1.98% |
+60,000
| New | +$1.76M |
|
|
CNR
17
DELISTED
Cornerstone Building Brands, Inc.
CNR
| $1.21M | 1.46% |
142,429
+16,900
| +13% | +$119K |
|
18
Zillow
Z
$7.11B
| $1.07M | 1.29% |
23,200
| – | – |
|
|
19
Gildan
GIL
$9.27B
| $1.06M | 1.28% |
+35,800
| New | +$1.05M |
|
|
20
PUT
Gildan
GIL
$9.27B
| $1.03M | 1.25% |
+35,000
| New | +$1.02M |
|
21
Scorpio Tankers
STNG
$3.96B
| $732K | 0.88% |
+18,600
| New | +$636K |
|
|
22
CALL
Newmark Group
NMRK
$2.76B
| $673K | 0.81% |
50,000
| – | – |
|
23
Legacy Housing
LEGH
$620M
| $418K | 0.5% |
25,149
| – | – |
|
|
WPG
24
CALL
DELISTED
Washington Prime Group Inc.
WPG
| $291K | 0.35% |
+8,889
| New | +$323K |
|
25
Kura Sushi USA
KRUS
$537M
| $204K | 0.25% |
8,017
+999
| +14% | +$22.1K |
|
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Gratia Capital's Q4 2019 Portfolio in Review
As of Q4 2019, Gratia Capital held 35 positions worth $82.8M, up 38% from $59.9M the previous quarter. Its ten largest holdings account for 77% of the portfolio.
Gratia Capital deployed $18M of net new capital in Q4 2019, opening 9 new positions and adding to 8 existing holdings. Its largest new stake was Select Interior Concepts, Inc. Class A Common Stock: 250,000 shares worth $2.25M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 11% of assets, up from 8.9% a quarter earlier, followed by Real Estate and Industrials.
On the sell side, the largest reduction was FGL Holdings Ordinary Shares, an estimated $1.72M trimmed.
- Gratia Capital's largest Q4 2019 buy was Select Interior Concepts, Inc. Class A Common Stock: 250,000 shares worth $2.25M.
- Gratia Capital added most to Mayville Engineering Co in Q4 2019, an estimated $861K increase.
- Gratia Capital's biggest Q4 2019 reduction was FGL Holdings Ordinary Shares, cutting an estimated $1.72M.
- Gratia Capital fully exited Global Ship Lease in Q4 2019, selling an estimated $2.73M.
- Gratia Capital's ten largest holdings make up 77% of its $82.8M portfolio in Q4 2019.
- Gratia Capital opened 9 new positions and closed 7 in Q4 2019.
- Gratia Capital's portfolio value rose 38% quarter-over-quarter to $82.8M.
Based on Gratia Capital's 13F filing for Q4 2019, filed 14 Feb 2020.