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ZC
Zelman Capital Portfolio holdings
AUM
$81.9M
1-Year Est. Return
22.32%
This Fund
S&P 500
This Quarter
Est. Return
-2.84%
1 Year Est. Return
+22.32%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$285M
AUM Growth
-$116M
(-29%)
Cap. Flow
-$28M
Cap. Flow
% of AUM
-9.81%
Top 10 Holdings %
Top 10 Hldgs %
80.18%
Holding
38
New
5
Increased
7
Reduced
11
Closed
14
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PPG Industries
PPG
|
+$10.2M |
| 2 |
CNR
Cornerstone Building Brands, Inc.
CNR
|
+$7.64M |
| 3 |
SUM
Summit Materials, Inc. Class A Common Stock
SUM
|
+$5.58M |
| 4 |
HDS
HD Supply Holdings, Inc.
HDS
|
+$5.03M |
| 5 |
Century Communities
CCS
|
+$3.51M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DOOR
MASONITE INTERNATIONAL CORP
DOOR
|
+$10.5M |
| 2 |
Comfort Systems
FIX
|
+$8.85M |
| 3 |
Louisiana-Pacific
LPX
|
+$7.53M |
| 4 |
Eagle Materials
EXP
|
+$7.4M |
| 5 |
Axalta
AXTA
|
+$6.29M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 38.57% |
| 2 | Materials | 26.99% |
| 3 | Industrials | 17.85% |
| 4 | Consumer Discretionary | 10.56% |
| 5 | Real Estate | 2.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.8B
| $109M | 38.27% |
1,000,000
-500,000
| -33% | -$59.3M |
|
|
HW
2
DELISTED
Headwaters Inc
HW
| $24.2M | 8.49% |
1,289,294
+176,452
| +16% | +$3.45M |
|
|
USCR
3
DELISTED
U S Concrete, Inc.
USCR
| $18M | 6.31% |
376,927
-8,882
| -2% | -$420K |
|
|
PGTI
4
DELISTED
PGT, Inc.
PGTI
| $16.7M | 5.86% |
1,362,028
+208,278
| +18% | +$2.88M |
|
|
PRMW
5
DELISTED
Primo Water Corporation
PRMW
| $14.6M | 5.11% |
1,933,148
+6,675
| +0.3% | +$42.7K |
|
6
Advanced Drainage Systems
WMS
$10.3B
| $10.1M | 3.53% |
348,179
+5,800
| +2% | +$168K |
|
|
CBPX
7
DELISTED
CONTINENTAL BUILDING PRODUCTS, INC.
CBPX
| $10M | 3.51% |
487,804
-65,000
| -12% | -$1.36M |
|
|
SUM
8
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $9.79M | 3.43% |
552,275
+242,107
| +78% | +$5.58M |
|
|
9
PPG Industries
PPG
$25.4B
| $8.77M | 3.07% |
+100,000
| New | +$10.2M |
|
|
10
Century Communities
CCS
$1.97B
| $7.4M | 2.59% |
372,741
+168,300
| +82% | +$3.51M |
|
|
CVO
11
DELISTED
Cenevo, Inc.
CVO
| $6.82M | 2.39% |
453,266
-1,250
| -0.3% | -$17.7K |
|
|
CNR
12
DELISTED
Cornerstone Building Brands, Inc.
CNR
| $6.59M | 2.31% |
+623,942
| New | +$7.64M |
|
13
Tecnoglass Holdings
TGLS
$1.78B
| $6.21M | 2.18% |
452,501
| – | – |
|
|
DOOR
14
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $5.98M | 2.1% |
98,704
-157,350
| -61% | -$10.5M |
|
|
DXYN
15
DELISTED
Dixie Group Inc
DXYN
| $5.76M | 2.02% |
689,205
-58,838
| -8% | -$605K |
|
|
NEFF
16
DELISTED
Neff Corporation
NEFF
| $4.47M | 1.57% |
799,470
+410,886
| +106% | +$3.05M |
|
|
HDS
17
DELISTED
HD Supply Holdings, Inc.
HDS
| $4.29M | 1.5% |
+150,000
| New | +$5.03M |
|
18
NewtekOne
NEWT
$344M
| $3.88M | 1.36% |
236,300
-15,000
| -6% | -$265K |
|
19
Builders FirstSource
BLDR
$7.29B
| $2.98M | 1.04% |
+234,757
| New | +$3.33M |
|
20
LGI Homes
LGIH
$1.34B
| $2.97M | 1.04% |
109,250
-87,950
| -45% | -$2.07M |
|
21
Apogee Enterprises
APOG
$842M
| $2.63M | 0.92% |
+59,000
| New | +$3.09M |
|
|
22
Louisiana-Pacific
LPX
$4.98B
| $1.66M | 0.58% |
116,214
-474,555
| -80% | -$7.53M |
|
23
DigitalBridge
DBRG
$2.99B
| $1.44M | 0.5% |
25,000
-50,000
| -67% | -$3.51M |
|
|
NTK
24
DELISTED
NORTEK INC COM NEW (DE)
NTK
| $871K | 0.31% |
13,753
-15,684
| -53% | -$1.23M |
|
25
Alarm.com
ALRM
$2.82B
| – | – |
-10,000
| Closed | -$154K |
|
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Zelman Capital's Q3 2015 Portfolio in Review
As of Q3 2015, Zelman Capital held 38 positions worth $285M, down 29% from $401M the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Zelman Capital withdrew a net $28M in Q3 2015, closing 14 positions and reducing 11 holdings. Its most notable exit was Comfort Systems, an estimated $8.85M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 39% of assets, down from 47% a quarter earlier, followed by Materials and Industrials.
Against the trend, Zelman Capital opened a new position in PPG Industries worth $8.77M.
- Zelman Capital's largest Q3 2015 buy was PPG Industries: 100,000 shares worth $8.77M.
- Zelman Capital added most to Summit Materials, Inc. Class A Common Stock in Q3 2015, an estimated $5.58M increase.
- Zelman Capital's biggest Q3 2015 reduction was MASONITE INTERNATIONAL CORP, cutting an estimated $10.5M.
- Zelman Capital fully exited Comfort Systems in Q3 2015, selling an estimated $8.85M.
- Zelman Capital's ten largest holdings make up 80% of its $285M portfolio in Q3 2015.
- Zelman Capital opened 5 new positions and closed 14 in Q3 2015.
- Zelman Capital's portfolio value fell 29% quarter-over-quarter to $285M.
Based on Zelman Capital's 13F filing for Q3 2015, filed 10 Nov 2015.