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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
-0.99%
1 Year Est. Return
+22.32%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$514M
AUM Growth
-$49M
(-8.7%)
Cap. Flow
-$54.2M
Cap. Flow
% of AUM
-10.56%
Top 10 Holdings %
Top 10 Hldgs %
91.82%
Holding
28
New
5
Increased
5
Reduced
11
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWNK
Hostess Brands, Inc. Class A Common Stock
TWNK
|
+$5.83M |
| 2 |
CNR
Cornerstone Building Brands, Inc.
CNR
|
+$4.49M |
| 3 |
MRT
MedEquities Realty Trust, Inc.
MRT
|
+$2.33M |
| 4 |
REIS
Reis, Inc.
REIS
|
+$1.99M |
| 5 |
Tecnoglass Holdings
TGLS
|
+$1.38M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HW
Headwaters Inc
HW
|
+$10.5M |
| 2 |
Advanced Drainage Systems
WMS
|
+$9.67M |
| 3 |
Builders FirstSource
BLDR
|
+$8.94M |
| 4 |
CBPX
CONTINENTAL BUILDING PRODUCTS, INC.
CBPX
|
+$7.5M |
| 5 |
PRMW
Primo Water Corporation
PRMW
|
+$5.86M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 73.53% |
| 2 | Industrials | 10.33% |
| 3 | Materials | 8.56% |
| 4 | Consumer Discretionary | 3.13% |
| 5 | Real Estate | 1.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.8B
| $373M | 72.53% |
3,000,000
+250,000
| +9% | +$30.4M |
|
|
2
Builders FirstSource
BLDR
$7.29B
| $16.4M | 3.18% |
1,420,906
-710,256
| -33% | -$8.94M |
|
|
HW
3
DELISTED
Headwaters Inc
HW
| $14.8M | 2.87% |
872,035
-568,259
| -39% | -$10.5M |
|
|
CNR
4
DELISTED
Cornerstone Building Brands, Inc.
CNR
| $14.1M | 2.74% |
963,446
+278,539
| +41% | +$4.49M |
|
|
PRMW
5
DELISTED
Primo Water Corporation
PRMW
| $11.6M | 2.26% |
959,248
-497,393
| -34% | -$5.86M |
|
|
USCR
6
DELISTED
U S Concrete, Inc.
USCR
| $10.2M | 1.98% |
220,340
-81,129
| -27% | -$4.57M |
|
|
PGTI
7
DELISTED
PGT, Inc.
PGTI
| $8.76M | 1.71% |
821,116
+107,485
| +15% | +$1.24M |
|
|
DOOR
8
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $8.41M | 1.64% |
135,229
-78,881
| -37% | -$5.29M |
|
9
Century Communities
CCS
$1.97B
| $7.75M | 1.51% |
360,486
-28,900
| -7% | -$559K |
|
|
10
Tecnoglass Holdings
TGLS
$1.78B
| $7.2M | 1.4% |
598,006
+116,205
| +24% | +$1.38M |
|
|
SUM
11
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $6.87M | 1.34% |
386,659
-246,223
| -39% | -$4.77M |
|
12
LendingTree
TREE
$407M
| $6.78M | 1.32% |
70,000
+10,000
| +17% | +$995K |
|
|
TWNK
13
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $5.92M | 1.15% |
+548,464
| New | +$5.83M |
|
|
CBPX
14
DELISTED
CONTINENTAL BUILDING PRODUCTS, INC.
CBPX
| $5.02M | 0.98% |
239,217
-333,178
| -58% | -$7.5M |
|
|
USCR
15
CALL
DELISTED
U S Concrete, Inc.
USCR
| $4.61M | 0.9% |
+100,000
| New | +$5.63M |
|
|
16
Advanced Drainage Systems
WMS
$10.3B
| $3.63M | 0.71% |
150,899
-380,000
| -72% | -$9.67M |
|
|
CVO
17
DELISTED
Cenevo, Inc.
CVO
| $3.44M | 0.67% |
487,531
-10,547
| -2% | -$78.5K |
|
|
MRT
18
DELISTED
MedEquities Realty Trust, Inc.
MRT
| $2.35M | 0.46% |
+200,000
| New | +$2.33M |
|
|
REIS
19
DELISTED
Reis, Inc.
REIS
| $1.86M | 0.36% |
+90,820
| New | +$1.99M |
|
|
DXYN
20
DELISTED
Dixie Group Inc
DXYN
| $1.02M | 0.2% |
203,722
-236,745
| -54% | -$975K |
|
|
CPAAU
21
DELISTED
Conyers Park Acquisition Corp. Unit
CPAAU
| $538K | 0.1% |
+50,000
| New | +$525K |
|
|
GMS
22
DELISTED
GMS Inc
GMS
| – | – |
-160,000
| Closed | -$3.56M |
|
23
NewtekOne
NEWT
$344M
| – | – |
-118,575
| Closed | -$1.51M |
|
24
Quanex
NX
$892M
| – | – |
-212,033
| Closed | -$3.94M |
|
25
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$825B
| – | – |
-250,000
| Closed | -$52.4M |
|
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Zelman Capital's Q3 2016 Portfolio in Review
As of Q3 2016, Zelman Capital held 28 positions worth $514M, down 8.7% from $563M the previous quarter. Its ten largest holdings account for 92% of the portfolio.
Zelman Capital withdrew a net $54.2M in Q3 2016, closing 7 positions and reducing 11 holdings. Its most notable exit was Quanex, an estimated $3.94M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 74% of assets, up from 65% a quarter earlier, followed by Industrials and Materials.
Against the trend, Zelman Capital opened a new position in Hostess Brands, Inc. Class A Common Stock worth $5.92M.
- Zelman Capital's largest Q3 2016 buy was Hostess Brands, Inc. Class A Common Stock: 548,464 shares worth $5.92M.
- Zelman Capital added most to Cornerstone Building Brands, Inc. in Q3 2016, an estimated $4.49M increase.
- Zelman Capital's biggest Q3 2016 reduction was Headwaters Inc, cutting an estimated $10.5M.
- Zelman Capital fully exited Quanex in Q3 2016, selling an estimated $3.94M.
- Zelman Capital's ten largest holdings make up 92% of its $514M portfolio in Q3 2016.
- Zelman Capital opened 5 new positions and closed 7 in Q3 2016.
- Zelman Capital's portfolio value fell 8.7% quarter-over-quarter to $514M.
Based on Zelman Capital's 13F filing for Q3 2016, filed 14 Nov 2016.