GRACE BROTHERS MANAGEMENT LLC
Follow13F filer, CIK 1218558, EVANSTON, IL
GRACE BROTHERS MANAGEMENT LLC reported $107,247,000 across 46 holdings for the quarter ended 2014-03-31, in a 13F-HR filed 2014-05-09. Its ten largest share positions make up 47.61% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001218558-14-000002
- Period
- 2014-03-31
- Reported value
- $107M
- Holdings
- 46
- Top 10 weight
- 47.61%
- New
- 8
- Sold out
- 11
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| APPLE INCnew | +500 | $268K |
| PowerShares QQQ Trust Unit …added | +1,000 | $87.7K |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| STANLEY BLACK & DECKER INCexited | -15,000 | -$1.54M |
| PPL CORPreduced | -16,100 | -$881K |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Holdings, Q1 2014
Share positions as resolved from 13F-HR 0001218558-14-000002, largest first. % of portfolio is the value over $107,247,000, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| CROWN CASTLE CNV PFDCROWN CASTLE CNV PFD | 25,500 | $2.58M | 2.4% | 0 | |||
| HEALTH CARE REIT INC CONV 6…HEALTH CARE REIT INC CONV 6.50 | 42,500 | $2.36M | 2.2% | 0 | |||
| CHESAPEAKE ENERGY CORPCHESAPEAKE ENERGY CORP | 1,300 | $1.45M | 1.36% | 0 | |||
| PowerShares QQQ Trust Unit …PowerShares QQQ Trust Unit Ser | 15,000 | $1.31M | 1.23% | +1,000 | |||
| ARCELORMITTALARCELORMITTAL | 40,000 | $959K | 0.89% | 0 | |||
| ENERGY XXI BERMUDA LTD CONV…ENERGY XXI BERMUDA LTD CONV PFD $… | 3,500 | $945K | 0.88% | 0 | |||
| PPL CORPPPL CORP | 14,400 | $788K | 0.73% | -16,100 | |||
| APPLE INCAPPLE INC | 500 | $268K | 0.25% | new | The CUSIP as filed is malformed. | ||
| CSCOCISCO SYS INC | 7,000 | $157K | 0.15% | 0 | Timeline |
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| GILEAD SCIENCES INCGILEAD SCIENCES INC CORPORATE OBLIG | principal | 2,400,000 | $7.47M | -1,400,000 |
| MU 2.375 5/1/32MU 2.375 5/1/32 Bond 30/360P2 U | principal | 2,650,000 | $6.68M | -100,000 |
| MYLAN INCMYLAN INC CORPORATE OBLIG | principal | 1,500,000 | $5.51M | +500,000 |
| SANDISK CORPSANDISK CORP CORPORATE OBLIG | principal | 3,250,000 | $5.35M | +750,000 |
| TESLA MOTORS INC 1.500TESLA MOTORS INC 1.500 NOTE 1.500% 6/0 | principal | 2,750,000 | $4.94M | +500,000 |
| CHART INDUSTRIES INCCHART INDUSTRIES INC NOTE | principal | 3,250,000 | $4.38M | 0 |
| RADIAN GROUP INCRADIAN GROUP INC NOTE 2.250% 3/0 | principal | 2,800,000 | $4.29M | 0 |
| RYLAND GROUP INCRYLAND GROUP INC NOTE 1.625% | principal | 3,000,000 | $4.29M | 0 |
| SALIX PHARMACEUTICAL 1.500SALIX PHARMACEUTICAL 1.500 NOTE 1.500% 3/ | principal | 2,500,000 | $4.23M | +500,000 |
| DEALERTRACK TECHNOLOGIES INCDEALERTRACK TECHNOLOGIES INC NOTE 1.500% 3/1 | principal | 2,750,000 | $3.92M | +1,250,000 |
| GT Advanced Technologies In…GT Advanced Technologies Inc. CONV | principal | 2,100,000 | $3.4M | +1,000,000 |
| SOLARCITY CORPSOLARCITY CORP NOTE 2.750%11/0 | principal | 2,000,000 | $2.58M | +500,000 |
| AK STL CORPAK STL CORP NOTE 5.000%11/1 | principal | 1,500,000 | $2.29M | +500,000 |
| TTM TECHNOLOGIES INCTTM TECHNOLOGIES INC NOTE 1.750%12/1 | principal | 2,000,000 | $2.22M | 0 |
| ALTRA HOLDINGS INCALTRA HOLDINGS INC NOTE 2.750% 3/0 | principal | 1,500,000 | $2.14M | 0 |
| JARDEN CORPJARDEN CORP NOTE 1.87 | principal | 1,500,000 | $2.09M | 0 |
| UNITED THERAPEUTICS CORP DELUNITED THERAPEUTICS CORP DEL NOTE 1.000% 9/1 | principal | 1,000,000 | $1.99M | -500,000 |
| XPO LOGISTICS INCXPO LOGISTICS INC NOTE 4.5% 10/0 | principal | 1,000,000 | $1.88M | new |
| BOTTOMLINE TECH DEL INCBOTTOMLINE TECH DEL INC NOTE 1.500%12/0 | principal | 1,430,000 | $1.88M | 0 |
| GROUP 1 AUTOMOGROUP 1 AUTOMO NOTE 3.0% 3/15/ | principal | 1,000,000 | $1.86M | 0 |
| HAWAIIAN HOLDINGS INCHAWAIIAN HOLDINGS INC NOTE 5.000% 3/1 | principal | 1,000,000 | $1.84M | new |
| GROUP 1 AUTOMOTIVE INCGROUP 1 AUTOMOTIVE INC FRNT | principal | 1,500,000 | $1.82M | +500,000 |
| AMAG PHARMACEUTICALS INCAMAG PHARMACEUTICALS INC NOTE 2.500 2/1 | principal | 1,750,000 | $1.78M | new |
| RTI INTL METALS INCRTI INTL METALS INC NOTE 1.625%10/1 | principal | 1,750,000 | $1.72M | -1,500,000 |
| VERISIGN INCVERISIGN INC CORPORATE OBLIG | principal | 1,000,000 | $1.65M | new |
| VIPSHOP HLDGS LTDVIPSHOP HLDGS LTD NOTE 1.500% 3/1 | principal | 1,600,000 | $1.63M | new |
| AMERICAN RLTY CAP PPTYS INCAMERICAN RLTY CAP PPTYS INC NOTE 3.000% 8/0 | principal | 1,500,000 | $1.59M | -500,000 |
| ANW 4 11/1/18ANW 4 11/1/18 Bond 30/360P2 U | principal | 1,500,000 | $1.51M | 0 |
| M/I HOMES INCM/I HOMES INC NOTE 3.250% 9/1 | principal | 1,175,000 | $1.42M | 0 |
| ASCENT CAP GROUP INCASCENT CAP GROUP INC NOTE 4.000 7/1 | principal | 1,250,000 | $1.26M | 0 |
| BLACKSTONE MTG TR INCBLACKSTONE MTG TR INC NOTE 5.250pcnt12/0 | principal | 1,000,000 | $1.11M | 0 |
| VECTOR GROUP LTDVECTOR GROUP LTD FRNT 4/1 | principal | 1,000,000 | $1.04M | new |
| OMNICAREOMNICARE NOTE3 | principal | 1,000,000 | $1.02M | 0 |
| RESOURCE CAP CORPRESOURCE CAP CORP NOTE 6.000prct12/0 | principal | 1,000,000 | $996K | 0 |
| RAS 4 10/1/33RAS 4 10/1/33 Bond 30/360P2 U | principal | 1,000,000 | $983K | 0 |
| ANR 4.875 12/20ANR 4.875 12/20 Bond 30/360P2 U | principal | 1,000,000 | $824K | 0 |
| TESLA INCTESLA INC NOTE 1.250% 3/0 | principal | 900,000 | $818K | new |
Sold out in Q1 2014
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| ENDO HEALTH SOLUTIONS INCENDO HEALTH SOLUTIONS INC | 2,000,000 | $4.63M | principal |
| CADENCE DESIGN SYSTEM INCCADENCE DESIGN SYSTEM INC | 2,000,000 | $3.76M | principal |
| ENPRO INDS INCENPRO INDS INC | 2,040,000 | $3.6M | principal |
| ENERSYS 3.375ENERSYS 3.375 | 1,750,000 | $3.09M | principal |
| GREEN PLAINS RENEWABLE ENERGGREEN PLAINS RENEWABLE ENERG | 1,500,000 | $2.18M | principal |
| CEMEX SAB DE CVCEMEX SAB DE CV | 1,500,000 | $1.98M | principal |
| STANLEY BLACK & DECKER INCSTANLEY BLACK & DECKER INC | 15,000 | $1.54M | shares |
| WEB COM GROUP INCWEB COM GROUP INC | 1,240,000 | $1.4M | principal |
| CEMEX SAB DE CVCEMEX SAB DE CV | 1,000,000 | $1.36M | principal |
| MICRON TECHNOLOGY INCMICRON TECHNOLOGY INC | 1,150,000 | $1.14M | principal |
| Starwood Property Trust, In…Starwood Property Trust, Inc. | 1,000,000 | $1.11M | principal |
How Q1 2014 was built
Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001218558-14-000002 | base | 2014-05-09 | acceptance time not in the bulk data set |