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ZC
Zelman Capital Portfolio holdings
AUM
$81.9M
Turnover
47.83%
1-Year Est. Return
22.32%
This Fund
S&P 500
This Quarter Est. Return
+9.12%
1 Year Est. Return
+22.32%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$81.9M
AUM Growth
-$432M
(-84%)
Cap. Flow
-$61.8M
Cap. Flow % of AUM
Cap. Flow %
-75.43%
Top 10 Holdings %
Top 10 Hldgs %
90.7%
Holding
23
New
2
Increased
–
Reduced
11
Closed
9
Avg Time Held
Equity + Options
1.2
years
Top 10 Avg Time Held
Equity + Options
0.7
years
Top 20 Avg Time Held
Equity + Options
1.1
years
Avg Time Held Equity only
1.2
years
Top 10 Avg Time Held Equity only
0.9
years
Top 20 Avg Time Held Equity only
1.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ATKR
Atkore
ATKR
|
+$3.5M |
| 2 |
Ichor Holdings
ICHR
|
+$1.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HW
Headwaters Inc
HW
|
+$14.8M |
| 2 |
PGTI
PGT, Inc.
PGTI
|
+$8.76M |
| 3 |
Cornerstone Building Brands, Inc.
CNR
|
+$8.09M |
| 4 |
USCR
U S Concrete, Inc.
USCR
|
+$7.52M |
| 5 |
LendingTree
TREE
|
+$6.78M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 43.06% |
| 2 | Materials | 26.46% |
| 3 | Consumer Discretionary | 10.51% |
| 4 | Real Estate | 8.86% |
| 5 | Consumer Staples | 8.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Builders FirstSource
BLDR
$6.13B
| $15M | 18.36% |
1,370,906
-50,000
| -4% | -$542K |
2015 Q3
5 quarters
|
|
2
DELISTED
Primo Water Corporation
PRMW
| $8.61M | 10.51% |
701,048
-258,200
| -27% | -$3.32M |
2014 Q4
8 quarters
|
|
3
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $7.99M | 9.76% |
121,429
-13,800
| -10% | -$865K |
2015 Q1
7 quarters
|
|
4
Century Communities
CCS
$1.63B
| $7.26M | 8.86% |
345,486
-15,000
| -4% | -$311K |
2015 Q2
6 quarters
|
|
5
Tecnoglass Holdings
TGLS
$1.7B
| $7.22M | 8.82% |
589,799
-8,207
| -1% | -$96.9K |
2014 Q4
8 quarters
|
|
|
TWNK
6
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $6.94M | 8.47% |
533,464
-15,000
| -3% | -$182K |
2016 Q3
1 quarter
|
|
|
7
DELISTED
Cornerstone Building Brands, Inc.
CNR
| $6.22M | 7.59% |
445,614
-517,832
| -54% | -$8.09M |
2015 Q3
5 quarters
|
|
|
USCR
8
DELISTED
U S Concrete, Inc.
USCR
| $5.59M | 6.83% |
85,340
-135,000
| -61% | -$7.52M |
2014 Q4
8 quarters
|
|
9
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $5.36M | 6.55% |
232,388
-154,271
| -40% | -$3.24M |
2015 Q1
7 quarters
|
|
|
ATKR
10
DELISTED
Atkore
ATKR
| $4.06M | 4.96% |
+170,000
| New | +$3.5M |
2016 Q4
0 quarters
|
|
|
CBPX
11
DELISTED
CONTINENTAL BUILDING PRODUCTS, INC.
CBPX
| $3.49M | 4.26% |
151,184
-88,033
| -37% | -$1.91M |
2014 Q4
8 quarters
|
|
|
REIS
12
DELISTED
Reis, Inc.
REIS
| $1.96M | 2.39% |
87,920
-2,900
| -3% | -$62.3K |
2016 Q3
1 quarter
|
|
|
13
Ichor Holdings
ICHR
$1.43B
| $1.62M | 1.98% |
+150,000
| New | +$1.6M |
2016 Q4
0 quarters
|
|
|
CPAAU
14
DELISTED
Conyers Park Acquisition Corp. Unit
CPAAU
| $543K | 0.66% |
50,000
| – | – |
2016 Q3
1 quarter
|
|
15
PUT
iShares Russell 2000 ETF
IWM
$79B
| – | – |
-3,000,000
| Closed | -$373M | – |
|
|
16
LendingTree
TREE
$372M
| – | – |
-70,000
| Closed | -$6.78M | – |
|
17
Advanced Drainage Systems
WMS
$9.8B
| – | – |
-150,899
| Closed | -$3.63M | – |
|
18
DELISTED
Dixie Group Inc
DXYN
| – | – |
-203,722
| Closed | -$1.02M | – |
|
|
PGTI
19
DELISTED
PGT, Inc.
PGTI
| – | – |
-821,116
| Closed | -$8.76M | – |
|
|
USCR
20
CALL
DELISTED
U S Concrete, Inc.
USCR
| – | – |
-100,000
| Closed | -$4.61M | – |
|
21
DELISTED
MedEquities Realty Trust, Inc.
MRT
| – | – |
-200,000
| Closed | -$2.35M | – |
|
|
CVO
22
DELISTED
Cenevo, Inc.
CVO
| – | – |
-487,531
| Closed | -$3.44M | – |
|
|
HW
23
DELISTED
Headwaters Inc
HW
| – | – |
-872,035
| Closed | -$14.8M | – |
|
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Zelman Capital's Q4 2016 Portfolio in Review
As of Q4 2016, Zelman Capital held 23 positions worth $81.9M, down 84% from $514M the previous quarter. Its ten largest holdings account for 91% of the portfolio.
Zelman Capital withdrew a net $61.8M in Q4 2016, closing 9 positions and reducing 11 holdings. Its most notable exit was Headwaters Inc, an estimated $14.8M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 43% of assets, up from 10% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Zelman Capital opened a new position in Atkore worth $4.06M.
- Zelman Capital's largest Q4 2016 buy was Atkore: 170,000 shares worth $4.06M.
- Zelman Capital's biggest Q4 2016 reduction was Cornerstone Building Brands, Inc., cutting an estimated $8.09M.
- Zelman Capital fully exited Headwaters Inc in Q4 2016, selling an estimated $14.8M.
- Zelman Capital's ten largest holdings make up 91% of its $81.9M portfolio in Q4 2016.
- Zelman Capital opened 2 new positions and closed 9 in Q4 2016.
- Zelman Capital's portfolio value fell 84% quarter-over-quarter to $81.9M.
Based on Zelman Capital's 13F filing for Q4 2016, filed 14 Feb 2017.