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MGC

Merchants' Gate Capital Portfolio holdings

AUM $1.27B
1-Year Est. Return 15.57%
This Fund
S&P 500
This Quarter Est. Return
+7.81%
1 Year Est. Return
+15.57%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.49B
AUM Growth
+$409M
Cap. Flow
-$92.1M
Cap. Flow %
-3.7%
Top 10 Hldgs %
74.69%
Holding
30
New
6
Increased
7
Reduced
9
Closed
8

Top Buys

Rank Stock Value
1
HD icon
Home Depot
HD
+$71M
2
STZ icon
Constellation Brands
STZ
+$63M
3
ROST icon
Ross Stores
ROST
+$49.5M
4
NVR icon
NVR
NVR
+$46.1M
5
WMB icon
Williams Companies
WMB
+$44.7M

Top Sells

Rank Stock Value
1
ORLY icon
O'Reilly Automotive
ORLY
+$92.1M
2
ARG
Airgas Inc
ARG
+$76.2M
3
DG icon
Dollar General
DG
+$60.7M
4
LEN icon
Lennar Class A
LEN
+$51.2M
5
SLB icon
SLB Ltd
SLB
+$49.9M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 23.29%
2 Miscellaneous 22.83%
3 Energy 20.31%
4 Consumer Staples 14.54%
5 Materials 7.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$504M 20.26%
+3,000,000
New +$503M
NVR icon
2
NVR
NVR
$16.3B
$208M 8.38%
226,826
+50,986
+29% +$46.1M
MON
3
DELISTED
Monsanto Co
MON
$196M 7.87%
1,876,942
-305,400
-14% -$30.7M
WMB icon
4
Williams Companies
WMB
$92.8B
$193M 7.76%
5,308,600
+1,275,000
+32% +$44.7M
DG icon
5
Dollar General
DG
$28.2B
$152M 6.09%
2,684,802
-1,104,697
-29% -$60.7M
SLB icon
6
SLB Ltd
SLB
$84.7B
$146M 5.86%
1,649,500
-607,800
-27% -$49.9M
NOV icon
7
NOV
NOV
$7.63B
$142M 5.7%
2,013,556
-85,836
-4% -$5.74M
DLTR icon
8
Dollar Tree
DLTR
$23.3B
$108M 4.33%
1,886,076
-755,924
-29% -$40.8M
HOUS
9
DELISTED
Anywhere Real Estate
HOUS
$107M 4.31%
2,494,556
+454,000
+22% +$20.5M
STZ icon
10
Constellation Brands
STZ
$20.7B
$102M 4.12%
1,784,547
+1,157,100
+184% +$63M
ARG
11
DELISTED
Airgas Inc
ARG
$96.7M 3.89%
911,540
-742,039
-45% -$76.2M
SBH icon
12
Sally Beauty Holdings
SBH
$1.51B
$92.7M 3.73%
3,544,573
+875,000
+33% +$24.5M
ROST icon
13
Ross Stores
ROST
$73.3B
$80.4M 3.23%
2,208,578
+1,450,000
+191% +$49.5M
NCLH icon
14
Norwegian Cruise Line
NCLH
$7.07B
$71.2M 2.86%
2,306,400
+936,005
+68% +$29.4M
HD icon
15
Home Depot
HD
$313B
$69.8M 2.8%
+920,000
New +$71M
CPRI icon
16
Capri Holdings
CPRI
$1.49B
$54M 2.17%
725,000
-251,900
-26% -$17.6M
MON
17
CALL
DELISTED
Monsanto Co
MON
$52.2M 2.1%
+500,000
New +$50.2M
DRC
18
DELISTED
DRESSER-RAND GROUP INC
DRC
$44.2M 1.78%
+707,800
New +$44.2M
WAB icon
19
Wabtec
WAB
$48B
$29.3M 1.18%
+466,600
New +$27.4M
YPF icon
20
YPF Sociedad Anonima ADS
YPF
$20.8B
$24.7M 0.99%
1,225,000
-108,800
-8% -$1.87M
VALE icon
21
PUT
Vale
VALE
$66.2B
$11.7M 0.47%
750,000
-750,000
-50% -$11.1M
FOSL icon
22
Fossil Group
FOSL
$302M
$2.91M 0.12%
+25,000
New +$2.86M
EXPD icon
23
Expeditors International
EXPD
$24.2B
– –
-261,700
Closed -$9.96M
LEN icon
24
Lennar Class A
LEN
$19.4B
– –
-1,493,898
Closed -$51.2M
ORLY icon
25
CALL
O'Reilly Automotive
ORLY
$69.5B
– –
-4,800,000
Closed -$36M
1
2

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Merchants' Gate Capital's Q3 2013 Portfolio in Review

As of Q3 2013, Merchants' Gate Capital held 30 positions worth $2.49B, up 20% from $2.08B the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Merchants' Gate Capital withdrew a net $92.1M in Q3 2013, closing 8 positions and reducing 9 holdings. Its most notable exit was O'Reilly Automotive, an estimated $92.1M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, down from 26% a quarter earlier, followed by Miscellaneous and Energy.

Against the trend, Merchants' Gate Capital opened a new position in Home Depot worth $69.8M.

  • Merchants' Gate Capital's largest Q3 2013 buy was Home Depot: 920,000 shares worth $69.8M.
  • Merchants' Gate Capital added most to Constellation Brands in Q3 2013, an estimated $63M increase.
  • Merchants' Gate Capital's biggest Q3 2013 reduction was Airgas Inc, cutting an estimated $76.2M.
  • Merchants' Gate Capital fully exited O'Reilly Automotive in Q3 2013, selling an estimated $92.1M.
  • Merchants' Gate Capital's ten largest holdings make up 75% of its $2.49B portfolio in Q3 2013.
  • Merchants' Gate Capital opened 6 new positions and closed 8 in Q3 2013.
  • Merchants' Gate Capital's portfolio value rose 20% quarter-over-quarter to $2.49B.

Based on Merchants' Gate Capital's 13F filing for Q3 2013, filed 14 Nov 2013.