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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
+14.66%
1 Year Est. Return
-0.8%
3 Year Est. Return
+12.94%
5 Year Est. Return
+10.45%
10 Year Est. Return
–
AUM
$455M
AUM Growth
-$1.07B
(-70%)
Cap. Flow
-$1.15B
Cap. Flow
% of AUM
-253.5%
Top 10 Holdings %
Top 10 Hldgs %
96.14%
Holding
18
New
1
Increased
6
Reduced
4
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TCN
Tricon Residential Inc.
TCN
|
+$42.4M |
| 2 |
American Homes 4 Rent
AMH
|
+$3.07M |
| 3 |
Phillips Edison & Co
PECO
|
+$44.5K |
| 4 |
Invitation Homes
INVH
|
+$27.8K |
| 5 |
AIRC
Apartment Income REIT Corp.
AIRC
|
+$17.1K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LSI
Life Storage, Inc.
LSI
|
+$28.7M |
| 2 |
Builders FirstSource
BLDR
|
+$12.6M |
| 3 |
CSR
Centerspace
CSR
|
+$11.5M |
| 4 |
Alexandria Real Estate Equities
ARE
|
+$7.29M |
| 5 |
MDC
M.D.C. Holdings, Inc.
MDC
|
+$5.42M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 47.17% |
| 2 | Consumer Discretionary | 1.76% |
| 3 | Industrials | 0% |
| 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
| $161M | 35.49% |
340,000
-1,250,700
| -79% | -$574M |
|
|
2
Alexandria Real Estate Equities
ARE
$8.97B
| $84.5M | 18.56% |
378,815
-35,245
| -9% | -$7.29M |
|
|
TCN
3
DELISTED
Tricon Residential Inc.
TCN
| $45.5M | 10.01% |
+2,980,432
| New | +$42.4M |
|
|
4
CALL
Invitation Homes
INVH
$17.7B
| $34.5M | 7.59% |
762,000
+382,000
| +101% | +$15.8M |
|
|
5
CALL
American Homes 4 Rent
AMH
$12B
| $24.9M | 5.46% |
570,000
| – | – |
|
|
6
Phillips Edison & Co
PECO
$5.46B
| $24.6M | 5.41% |
745,402
+1,386
| +0.2% | +$44.5K |
|
|
7
Invitation Homes
INVH
$17.7B
| $19.6M | 4.3% |
431,550
+673
| +0.2% | +$27.8K |
|
|
8
American Homes 4 Rent
AMH
$12B
| $16.5M | 3.62% |
377,912
+75,694
| +25% | +$3.07M |
|
9
Diamondrock Hospitality Co
DRH
$2.71B
| $14.4M | 3.17% |
1,500,759
+759
| +0.1% | +$7.14K |
|
10
CALL
Americold
COLD
$4.02B
| $11.5M | 2.52% |
350,000
-388,000
| -53% | -$12M |
|
|
AIRC
11
DELISTED
Apartment Income REIT Corp.
AIRC
| $9.56M | 2.1% |
174,927
+327
| +0.2% | +$17.1K |
|
|
MDC
12
DELISTED
M.D.C. Holdings, Inc.
MDC
| $8.02M | 1.76% |
143,612
-106,388
| -43% | -$5.42M |
|
|
13
CALL
Builders FirstSource
BLDR
$7.15B
| – | – |
-301,000
| Closed | -$15.6M |
|
|
14
Builders FirstSource
BLDR
$7.15B
| – | – |
-244,375
| Closed | -$12.6M |
|
|
CSR
15
Centerspace
CSR
$921M
| – | – |
-121,424
| Closed | -$11.5M |
|
16
CALL
iShares S&P 100 ETF
OEF
$20.1B
| – | – |
-1,000,000
| Closed | -$102M |
|
|
17
PUT
iShares S&P 100 ETF
OEF
$20.1B
| – | – |
-4,348,900
| Closed | -$445M |
|
|
LSI
18
DELISTED
Life Storage, Inc.
LSI
| – | – |
-250,000
| Closed | -$28.7M |
|
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Vision Capital's Q4 2021 Portfolio in Review
As of Q4 2021, Vision Capital held 18 positions worth $455M, down 70% from $1.52B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Vision Capital withdrew a net $1.15B in Q4 2021, closing 6 positions and reducing 4 holdings. Its most notable exit was Life Storage, Inc., an estimated $28.7M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 47% of assets, up from 13% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, Vision Capital opened a new position in Tricon Residential Inc. worth $45.5M.
- Vision Capital's largest Q4 2021 buy was Tricon Residential Inc.: 2,980,432 shares worth $45.5M.
- Vision Capital added most to American Homes 4 Rent in Q4 2021, an estimated $3.07M increase.
- Vision Capital's biggest Q4 2021 reduction was Alexandria Real Estate Equities, cutting an estimated $7.29M.
- Vision Capital fully exited Life Storage, Inc. in Q4 2021, selling an estimated $28.7M.
- Vision Capital's ten largest holdings make up 96% of its $455M portfolio in Q4 2021.
- Vision Capital opened 1 new position and closed 6 in Q4 2021.
- Vision Capital's portfolio value fell 70% quarter-over-quarter to $455M.
Based on Vision Capital's 13F filing for Q4 2021, filed 8 Feb 2022.