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Equitec Specialists Portfolio holdings

AUM $708K Turnover 98.64%
1-Year Est. Return 25.27%
This Fund
S&P 500
This Quarter Est. Return
+11.07%
1 Year Est. Return
+25.27%
3 Year Est. Return
+65.41%
5 Year Est. Return
+95.52%
10 Year Est. Return
–
AUM
$453M
AUM Growth
-$481M
Cap. Flow
-$349M
Cap. Flow %
-77.03%
Top 10 Hldgs %
71.16%
Holding
103
New
26
Increased
18
Reduced
16
Closed
23
Avg Time Held Equity + Options
0.7 years
Top 10 Avg Time Held Equity + Options
0.3 years
Top 20 Avg Time Held Equity + Options
0.4 years
Avg Time Held Equity only
0.7 years
Top 10 Avg Time Held Equity only
0.3 years
Top 20 Avg Time Held Equity only
0.5 years

Top Buys

Rank Stock Value
1
IRDMB icon
Iridium Communications Inc - 6.75% Series B
IRDMB
+$55.4M
2
HES.PRA icon
Hess Corporation
HES.PRA
+$19.6M
3
BDXA
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
+$17.6M
4
BKHU
Black Hills Corporation
BKHU
+$13.1M
5
RYAM.PRA icon
Rayonier Advanced Materials Inc. 8.00% Series A Mandatory Convertible Preferred Stock
RYAM.PRA
+$4.45M

Top Sells

Rank Stock Value
1
NEE.PRQ icon
NextEra Energy, Inc.
NEE.PRQ
+$201M
2
CCI.PRA icon
Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A
CCI.PRA
+$13.7M
3
SRE.PRA icon
Sempra Energy 6% Mandatory Convertible Preferred Stock, Series A
SRE.PRA
+$12.8M
4
WPXP
WPX Energy, Inc.
WPXP
+$3.81M
5
SJIU
South Jersey Industries, Inc.
SJIU
+$2M

Sector Composition

Rank Sector Weight
1 Miscellaneous 97.36%
2 Consumer Discretionary 1.18%
3 Industrials 0.77%
4 Real Estate 0.31%
5 Technology 0.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
DSKE
76
CALL
DELISTED
Daseke, Inc. Common Stock
DSKE
– –
-18,400
Closed -$183K –
DSKEW
77
DELISTED
Daseke, Inc. Warrant
DSKEW
– –
-129,970
Closed -$139K –
AIZP
78
DELISTED
Assurant, Inc. 6.50% Series D Mandatory Convertible Preferred Stock, $1.00 par value
AIZP
– –
-3,384
Closed -$379K –
SRE.PRA icon
79
DELISTED
Sempra Energy 6% Mandatory Convertible Preferred Stock, Series A
SRE.PRA
– –
-123,869
Closed -$12.8M –
AFSI
80
CALL
DELISTED
AmTrust Financial Services, Inc.
AFSI
– –
-15,000
Closed -$219K –
SMPLW icon
81
DELISTED
The Simply Good Foods Company Warrant
SMPLW
– –
-74,524
Closed -$309K –
BAC.WS.B icon
82
DELISTED
Bank Of America Corporation Ws B
BAC.WS.B
– –
-19,092
Closed -$12K –
CVG
83
CALL
DELISTED
Convergys
CVG
– –
-11,800
Closed -$288K –
NEE.PRQ icon
84
DELISTED
NextEra Energy, Inc.
NEE.PRQ
– –
-2,699,589
Closed -$201M –
TPGE.WS
85
DELISTED
TPG Pace Energy Holdings Corp.
TPGE.WS
– –
-31,700
Closed -$87K –
WPXP
86
DELISTED
WPX Energy, Inc.
WPXP
– –
-50,560
Closed -$3.81M –
WSCWW
87
DELISTED
WillScot Corporation Warrant
WSCWW
– –
-423,857
Closed -$958K –
FTR
88
DELISTED
Frontier Communications Corp.
FTR
– –
-46,862
Closed -$256K –
RHT
89
PUT
DELISTED
Red Hat Inc
RHT
– –
-43,000
Closed -$5.78M –
1 2 3
4

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Equitec Specialists's Q3 2018 Portfolio in Review

As of Q3 2018, Equitec Specialists held 103 positions worth $453M, down 52% from $934M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Equitec Specialists withdrew a net $349M in Q3 2018, closing 23 positions and reducing 16 holdings. Its most notable exit was NextEra Energy, Inc., an estimated $201M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 97% of assets, down from 99% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Equitec Specialists opened a new position in Amazon worth $4.01M.

  • Equitec Specialists's largest Q3 2018 buy was Amazon: 40,000 shares worth $4.01M.
  • Equitec Specialists added most to Iridium Communications Inc - 6.75% Series B in Q3 2018, an estimated $55.4M increase.
  • Equitec Specialists's biggest Q3 2018 reduction was Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A, cutting an estimated $13.7M.
  • Equitec Specialists fully exited NextEra Energy, Inc. in Q3 2018, selling an estimated $201M.
  • Equitec Specialists's ten largest holdings make up 71% of its $453M portfolio in Q3 2018.
  • Equitec Specialists opened 26 new positions and closed 23 in Q3 2018.
  • Equitec Specialists's portfolio value fell 52% quarter-over-quarter to $453M.

Based on Equitec Specialists's 13F filing for Q3 2018, filed 15 Oct 2018.