1060 Capital Management’s Returns, AUM, and Holdings

At the end of the third quarter, during which 1060 Capital LLC added 11 new positions and dumped around 31 stakes, its 13F portfolio was valued at $213.35 million. The biggest position the fund held on September 30 was in MasTec, Inc. (NYSE:MTZ), which it boosted by 109% to 600,000 shares, worth $26.79 million, accounting for 12.55% of the portfolio’s value. Some of the other smart money investors tracked by our database are also getting more bullish on MasTec, Inc. (NYSE:MTZ), as the number of hedge funds long the stock climbed to 30 from 22 during the previous quarter.

Among the biggest third-quarter additions to 1060 Capital Management’s portfolio were Vail Resorts, Inc. (NYSE:MTN) and Foot Locker, Inc. (NYSE:FL), with the fund acquiring 95,000 shares worth $26.07 million and 500,000 shares worth $25.49 million, respectively. Vail Resorts is a company that runs many luxury ski resorts across the country, while Foot Locker is a footwear retailer. At the end of the third quarter, 30 smart money investors were long Vail Resorts, up by one from the previous quarter, while 26 hedge funds owned Foot Locker shares, down from 30 in the second quarter.

Among 1060 Capital’s new additions was Wynn Resorts, Limited (NASDAQ:WYNN), which is a stock that is very popular with the wealthy elite, being sixth among the 25 Stocks Billionaires Are Piling On. The fund purchased 47,500 shares that were valued $6.04 million on September 30. Wynn Resorts runs destination casino resorts across the globe, including in gambling hotspots Las Vegas and Macau. Over the past six months, the company’s stock price has lost 41.25%.

When it comes to the companies in which 1060 Capital Management seemingly lost faith, as it decided to sell all of its holdings, we are going to name those three in which it had the biggest stakes. Starting with the biggest dropped position, Kimco Realty Corp (NYSE:KIM), the fund sold off 1.2 million shares in Q3 that had been valued at $20.39 million at the end of June. The next in line is Martin Marietta Materials, Inc. (NYSE:MLM) 85,000 shares of which the fund dumped during the third quarter. The third-largest position the fund said goodbye to was Watsco Inc (NYSE:WSO), with its former holding containing 105,000 shares with a value of $18.71 million on June 30.

Disclosure: None