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MGC

Merchants' Gate Capital Portfolio holdings

AUM $1.27B Turnover 63.27%
1-Year Est. Return 15.57%
This Fund
S&P 500
This Quarter Est. Return
+9.99%
1 Year Est. Return
+15.57%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.79B
AUM Growth
-$696M
Cap. Flow
-$664M
Cap. Flow %
-37.07%
Top 10 Hldgs %
81.39%
Holding
27
New
5
Increased
5
Reduced
11
Closed
5
Avg Time Held Equity + Options
0.3 years
Top 10 Avg Time Held Equity + Options
0.3 years
Top 20 Avg Time Held Equity + Options
0.3 years
Avg Time Held Equity only
0.3 years
Top 10 Avg Time Held Equity only
0.3 years
Top 20 Avg Time Held Equity only
0.3 years

Top Buys

Rank Stock Value
1
HD icon
Home Depot
HD
+$64.7M
2
RRC icon
Range Resources
RRC
+$35M
3
SIRI icon
SiriusXM
SIRI
+$19.9M
4
ROST icon
Ross Stores
ROST
+$18M
5
AMZN icon
Amazon
AMZN
+$18M

Top Sells

Rank Stock Value
1
SLB icon
SLB Ltd
SLB
+$146M
2
NOV icon
NOV
NOV
+$142M
3
ARG
Airgas Inc
ARG
+$77.5M
4
NVR icon
NVR
NVR
+$72M
5
NCLH icon
Norwegian Cruise Line
NCLH
+$71.2M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 27.46%
2 Miscellaneous 22.33%
3 Energy 13.91%
4 Consumer Staples 13.77%
5 Materials 9.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$814B
$296M 16.49%
1,600,000
-1,400,000
-47% -$248M
2013 Q3
1 quarter
WMB icon
2
Williams Companies
WMB
$85.7B
$181M 10.1%
4,695,386
-613,214
-12% -$22.1M
2013 Q2
2 quarters
MON
3
DELISTED
Monsanto Co
MON
$162M 9.06%
1,392,942
-484,000
-26% -$52.9M
2013 Q2
2 quarters
NVR icon
4
NVR
NVR
$15.8B
$155M 8.64%
150,976
-75,850
-33% -$72M
2013 Q2
2 quarters
HD icon
5
Home Depot
HD
$307B
$144M 8.04%
1,750,000
+830,000
+90% +$64.7M
2013 Q3
1 quarter
HOUS icon
6
DELISTED
Anywhere Real Estate
HOUS
$134M 7.49%
2,714,556
+220,000
+9% +$9.95M
2013 Q2
2 quarters
DG icon
7
Dollar General
DG
$29.6B
$125M 6.99%
2,075,702
-609,100
-23% -$35.8M
2013 Q2
2 quarters
ROST icon
8
Ross Stores
ROST
$75.9B
$101M 5.62%
2,687,378
+478,800
+22% +$18M
2013 Q2
2 quarters
MON
9
CALL
DELISTED
Monsanto Co
MON
$93.2M 5.2%
800,000
+300,000
+60% +$32.8M
2013 Q3
1 quarter
DLTR icon
10
Dollar Tree
DLTR
$23.4B
$67.3M 3.76%
1,193,076
-693,000
-37% -$39.9M
2013 Q2
2 quarters
DRC
11
DELISTED
DRESSER-RAND GROUP INC
DRC
$55.2M 3.08%
925,000
+217,200
+31% +$12.9M
2013 Q3
1 quarter
STZ icon
12
Constellation Brands
STZ
$22.1B
$54.3M 3.03%
772,101
-1,012,446
-57% -$67.7M
2013 Q2
2 quarters
SBH icon
13
Sally Beauty Holdings
SBH
$1.59B
$48.1M 2.68%
1,589,671
-1,954,902
-55% -$53.5M
2013 Q2
2 quarters
RRC icon
14
Range Resources
RRC
$9.58B
$37.9M 2.12%
+450,000
New +$35M
2013 Q4
0 quarters
CPRI icon
15
Capri Holdings
CPRI
$1.77B
$24.5M 1.37%
301,600
-423,400
-58% -$33.4M
2013 Q2
2 quarters
YPF icon
16
YPF Sociedad Anonima ADS
YPF
$20B
$24.1M 1.35%
732,200
-492,800
-40% -$12.6M
2013 Q2
2 quarters
ARG
17
DELISTED
Airgas Inc
ARG
$22.4M 1.25%
200,000
-711,540
-78% -$77.5M
2013 Q2
2 quarters
AMZN icon
18
Amazon
AMZN
$2.74T
$19.9M 1.11%
+1,000,000
New +$18M
2013 Q4
0 quarters
SIRI icon
19
SiriusXM
SIRI
$9.14B
$18.6M 1.04%
+532,000
New +$19.9M
2013 Q4
0 quarters
VALE icon
20
PUT
Vale
VALE
$56B
$11.4M 0.64%
750,000
– –
2013 Q2
2 quarters
SNA icon
21
Snap-on
SNA
$19B
$11.2M 0.62%
+101,900
New +$10.6M
2013 Q4
0 quarters
VLO icon
22
Valero Energy
VLO
$129B
$6.05M 0.34%
+120,000
New +$5.06M
2013 Q4
0 quarters
FOSL icon
23
Fossil Group
FOSL
$415M
– –
-25,000
Closed -$2.91M –
NCLH icon
24
Norwegian Cruise Line
NCLH
$7.01B
– –
-2,306,400
Closed -$71.2M –
NOV icon
25
NOV
NOV
$6.64B
– –
-2,013,556
Closed -$142M –
1
2

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Merchants' Gate Capital's Q4 2013 Portfolio in Review

As of Q4 2013, Merchants' Gate Capital held 27 positions worth $1.79B, down 28% from $2.49B the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Merchants' Gate Capital withdrew a net $664M in Q4 2013, closing 5 positions and reducing 11 holdings. Its most notable exit was SLB Ltd, an estimated $146M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 27% of assets, up from 23% a quarter earlier, followed by Miscellaneous and Energy.

Against the trend, Merchants' Gate Capital opened a new position in Range Resources worth $37.9M.

  • Merchants' Gate Capital's largest Q4 2013 buy was Range Resources: 450,000 shares worth $37.9M.
  • Merchants' Gate Capital added most to Home Depot in Q4 2013, an estimated $64.7M increase.
  • Merchants' Gate Capital's biggest Q4 2013 reduction was Airgas Inc, cutting an estimated $77.5M.
  • Merchants' Gate Capital fully exited SLB Ltd in Q4 2013, selling an estimated $146M.
  • Merchants' Gate Capital's ten largest holdings make up 81% of its $1.79B portfolio in Q4 2013.
  • Merchants' Gate Capital opened 5 new positions and closed 5 in Q4 2013.
  • Merchants' Gate Capital's portfolio value fell 28% quarter-over-quarter to $1.79B.

Based on Merchants' Gate Capital's 13F filing for Q4 2013, filed 13 Feb 2014.