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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
+6.69%
1 Year Est. Return
+22.32%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$342M
AUM Growth
-$60.8M
(-15%)
Cap. Flow
-$20.8M
Cap. Flow
% of AUM
-6.07%
Top 10 Holdings %
Top 10 Hldgs %
87.67%
Holding
33
New
5
Increased
7
Reduced
11
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Builders FirstSource
BLDR
|
+$7.91M |
| 2 |
TTSH
Tile Shop Holdings
TTSH
|
+$3.05M |
| 3 |
LendingTree
TREE
|
+$2.73M |
| 4 |
DOOR
MASONITE INTERNATIONAL CORP
DOOR
|
+$2.28M |
| 5 |
SUM
Summit Materials, Inc. Class A Common Stock
SUM
|
+$2.23M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DigitalBridge
DBRG
|
+$6.07M |
| 2 |
NEFF
Neff Corporation
NEFF
|
+$5.78M |
| 3 |
Axos Financial
AX
|
+$4.41M |
| 4 |
Interface
TILE
|
+$4.37M |
| 5 |
INNOVATE Corp
VATE
|
+$3.83M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 51.04% |
| 2 | Materials | 22.84% |
| 3 | Industrials | 15.39% |
| 4 | Consumer Discretionary | 7.41% |
| 5 | Real Estate | 1.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.8B
| $166M | 48.53% |
1,500,000
-500,000
| -25% | -$51.8M |
|
|
HW
2
DELISTED
Headwaters Inc
HW
| $29.4M | 8.59% |
1,480,294
+81,000
| +6% | +$1.36M |
|
|
USCR
3
DELISTED
U S Concrete, Inc.
USCR
| $18.7M | 5.48% |
314,469
-26,866
| -8% | -$1.37M |
|
|
PRMW
4
DELISTED
Primo Water Corporation
PRMW
| $17.5M | 5.12% |
1,733,874
-204,274
| -11% | -$1.83M |
|
|
5
Builders FirstSource
BLDR
$7.29B
| $15.6M | 4.57% |
1,386,162
+913,262
| +193% | +$7.91M |
|
|
DOOR
6
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $13.4M | 3.91% |
204,110
+40,406
| +25% | +$2.28M |
|
|
SUM
7
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $12.8M | 3.74% |
686,567
+136,296
| +25% | +$2.23M |
|
|
CBPX
8
DELISTED
CONTINENTAL BUILDING PRODUCTS, INC.
CBPX
| $11.1M | 3.25% |
598,395
-9,409
| -2% | -$153K |
|
|
CNR
9
DELISTED
Cornerstone Building Brands, Inc.
CNR
| $8.29M | 2.42% |
583,942
-25,000
| -4% | -$279K |
|
10
Advanced Drainage Systems
WMS
$10.3B
| $7.09M | 2.07% |
332,927
+9,748
| +3% | +$200K |
|
11
CALL
Louisiana-Pacific
LPX
$4.98B
| $6.85M | 2% |
+400,000
| New | +$6.32M |
|
12
Century Communities
CCS
$1.97B
| $6.29M | 1.84% |
368,241
-4,500
| -1% | -$68.6K |
|
13
Tecnoglass Holdings
TGLS
$1.78B
| $6.09M | 1.78% |
481,801
+14,300
| +3% | +$174K |
|
|
PGTI
14
DELISTED
PGT, Inc.
PGTI
| $3.68M | 1.08% |
374,131
-317,084
| -46% | -$3.09M |
|
|
15
LendingTree
TREE
$407M
| $3.42M | 1% |
+35,000
| New | +$2.73M |
|
|
TTSH
16
DELISTED
Tile Shop Holdings
TTSH
| $3.2M | 0.94% |
+214,825
| New | +$3.05M |
|
|
17
Louisiana-Pacific
LPX
$4.98B
| $2.57M | 0.75% |
150,000
+50,493
| +51% | +$798K |
|
18
Quanex
NX
$892M
| $2.02M | 0.59% |
116,296
-9,104
| -7% | -$161K |
|
|
DXYN
19
DELISTED
Dixie Group Inc
DXYN
| $1.86M | 0.54% |
442,467
-225,235
| -34% | -$991K |
|
|
20
CALL
Quanex
NX
$892M
| $1.74M | 0.51% |
+100,000
| New | +$1.76M |
|
21
NewtekOne
NEWT
$344M
| $1.65M | 0.48% |
131,575
-91,544
| -41% | -$1.05M |
|
|
DRII
22
DELISTED
DIAMOND RESORTS INTL, INC
DRII
| $1.47M | 0.43% |
+60,495
| New | +$1.29M |
|
|
CVO
23
DELISTED
Cenevo, Inc.
CVO
| $1.31M | 0.38% |
390,766
-62,500
| -14% | -$256K |
|
24
Apogee Enterprises
APOG
$842M
| – | – |
-50,000
| Closed | -$2.18M |
|
|
25
Axos Financial
AX
$5.55B
| – | – |
-209,300
| Closed | -$4.41M |
|
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QGI
Zelman Capital's Q1 2016 Portfolio in Review
As of Q1 2016, Zelman Capital held 33 positions worth $342M, down 15% from $403M the previous quarter. Its ten largest holdings account for 88% of the portfolio.
Zelman Capital withdrew a net $20.8M in Q1 2016, closing 10 positions and reducing 11 holdings. Its most notable exit was DigitalBridge, an estimated $6.07M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 51% of assets, down from 56% a quarter earlier, followed by Materials and Industrials.
Against the trend, Zelman Capital opened a new position in Tile Shop Holdings worth $3.2M.
- Zelman Capital's largest Q1 2016 buy was Tile Shop Holdings: 214,825 shares worth $3.2M.
- Zelman Capital added most to Builders FirstSource in Q1 2016, an estimated $7.91M increase.
- Zelman Capital's biggest Q1 2016 reduction was PGT, Inc., cutting an estimated $3.09M.
- Zelman Capital fully exited DigitalBridge in Q1 2016, selling an estimated $6.07M.
- Zelman Capital's ten largest holdings make up 88% of its $342M portfolio in Q1 2016.
- Zelman Capital opened 5 new positions and closed 10 in Q1 2016.
- Zelman Capital's portfolio value fell 15% quarter-over-quarter to $342M.
Based on Zelman Capital's 13F filing for Q1 2016, filed 12 May 2016.