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Vision Capital Portfolio holdings
AUM
$397M
1-Year Est. Return
0.8%
This Fund
S&P 500
This Quarter
Est. Return
+5.23%
1 Year Est. Return
-0.8%
3 Year Est. Return
+12.94%
5 Year Est. Return
+10.45%
10 Year Est. Return
–
AUM
$414M
AUM Growth
+$219M
(+112%)
Cap. Flow
+$196M
Cap. Flow
% of AUM
47.18%
Top 10 Holdings %
Top 10 Hldgs %
94.09%
Holding
15
New
3
Increased
5
Reduced
3
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AIRC
Apartment Income REIT Corp.
AIRC
|
+$20M |
| 2 |
MDC
M.D.C. Holdings, Inc.
MDC
|
+$18.6M |
| 3 |
Americold
COLD
|
+$14.4M |
| 4 |
Alexandria Real Estate Equities
ARE
|
+$5.58M |
| 5 |
Sun Communities
SUI
|
+$5.42M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KW
Kennedy-Wilson Holdings
KW
|
+$20.2M |
| 2 |
AIV
Aimco
AIV
|
+$17.7M |
| 3 |
Invitation Homes
INVH
|
+$11.6M |
| 4 |
American Homes 4 Rent
AMH
|
+$8.48M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 35.2% |
| 2 | Consumer Discretionary | 5.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$790B
| $206M | 49.62% |
+550,100
| New | +$195M |
|
|
2
Americold
COLD
$4.02B
| $37.3M | 8.99% |
998,122
+401,724
| +67% | +$14.4M |
|
|
MDC
3
DELISTED
M.D.C. Holdings, Inc.
MDC
| $22.7M | 5.47% |
503,797
+417,287
| +482% | +$18.6M |
|
|
4
Alexandria Real Estate Equities
ARE
$8.97B
| $22.6M | 5.45% |
126,733
+33,733
| +36% | +$5.58M |
|
|
AIRC
5
DELISTED
Apartment Income REIT Corp.
AIRC
| $20M | 4.82% |
+520,470
| New | +$20M |
|
6
Equity Lifestyle Properties
ELS
$12.6B
| $19.4M | 4.69% |
306,939
+30,047
| +11% | +$1.85M |
|
|
7
American Homes 4 Rent
AMH
$12B
| $17.9M | 4.33% |
597,694
-288,983
| -33% | -$8.48M |
|
|
8
Invitation Homes
INVH
$17.7B
| $15.2M | 3.67% |
512,502
-403,991
| -44% | -$11.6M |
|
9
CALL
Lennar Class A
LEN
$19.8B
| $14.9M | 3.59% |
201,435
| – | – |
|
10
CALL
Host Hotels & Resorts
HST
$17.2B
| $14.3M | 3.46% |
980,000
-500,000
| -34% | -$6.47M |
|
|
11
Sun Communities
SUI
$15.2B
| $13.5M | 3.25% |
88,606
+37,475
| +73% | +$5.42M |
|
12
CALL
Sunstone Hotel Investors
SHO
$2.19B
| $11M | 2.66% |
+974,700
| New | +$9.32M |
|
|
AIV
13
Aimco
AIV
$387M
| – | – |
-3,941,072
| Closed | -$17.7M |
|
|
KW
14
DELISTED
Kennedy-Wilson Holdings
KW
| – | – |
-1,391,485
| Closed | -$20.2M |
|
15
CALL
Vail Resorts
MTN
$5.32B
| – | – |
-48,200
| Closed | -$10.3M |
|
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Vision Capital's Q4 2020 Portfolio in Review
As of Q4 2020, Vision Capital held 15 positions worth $414M, up 112% from $195M the previous quarter. Its ten largest holdings account for 94% of the portfolio.
Vision Capital deployed $196M of net new capital in Q4 2020, opening 3 new positions and adding to 5 existing holdings. Its largest new stake was Apartment Income REIT Corp.: 520,470 shares worth $20M.
By sector, the portfolio is most concentrated in Real Estate at 35% of assets, down from 76% a quarter earlier, followed by Consumer Discretionary.
On the sell side, the largest reduction was Invitation Homes, an estimated $11.6M trimmed.
- Vision Capital's largest Q4 2020 buy was Apartment Income REIT Corp.: 520,470 shares worth $20M.
- Vision Capital added most to M.D.C. Holdings, Inc. in Q4 2020, an estimated $18.6M increase.
- Vision Capital's biggest Q4 2020 reduction was Invitation Homes, cutting an estimated $11.6M.
- Vision Capital fully exited Kennedy-Wilson Holdings in Q4 2020, selling an estimated $20.2M.
- Vision Capital's ten largest holdings make up 94% of its $414M portfolio in Q4 2020.
- Vision Capital opened 3 new positions and closed 3 in Q4 2020.
- Vision Capital's portfolio value rose 112% quarter-over-quarter to $414M.
Based on Vision Capital's 13F filing for Q4 2020, filed 17 Feb 2021.