ES

Equitec Specialists Portfolio holdings

AUM $708K Turnover 98.64%
1-Year Est. Return 25.27%
This Fund
S&P 500
This Quarter Est. Return
+8.89%
1 Year Est. Return
+25.27%
3 Year Est. Return
+65.41%
5 Year Est. Return
+95.52%
10 Year Est. Return
–
AUM
$419M
AUM Growth
+$74.8M
Cap. Flow
-$53.7M
Cap. Flow %
-12.81%
Top 10 Hldgs %
70.62%
Holding
147
New
40
Increased
24
Reduced
24
Closed
33
Avg Time Held Equity + Options
0.5 years
Top 10 Avg Time Held Equity + Options
0.5 years
Top 20 Avg Time Held Equity + Options
0.6 years
Avg Time Held Equity only
0.6 years
Top 10 Avg Time Held Equity only
0.5 years
Top 20 Avg Time Held Equity only
0.6 years

Top Buys

Rank Stock Value
1
TMUSP icon
T-Mobile US, Inc.5.50% Mandatory Convertible Preferred Stock, Series A
TMUSP
+$51.1M
2
BKHU
Black Hills Corporation
BKHU
+$6.76M
3
WPXP
WPX Energy, Inc.
WPXP
+$6.16M
4
FTRPR
Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock
FTRPR
+$3.19M
5
EVHC.PR
Envision Healthcare Corporation
EVHC.PR
+$2.85M

Top Sells

Rank Stock Value
1
SWH
Stanley Black & Decker, Inc.
SWH
+$12.5M
2
JPM.WS icon
JPMorgan Chase
JPM.WS
+$9.95M
3
IRDMB icon
Iridium Communications Inc - 6.75% Series B
IRDMB
+$8.68M
4
FCAM
Fiat Chrysler Automobiles N.V.
FCAM
+$8.01M
5
AMSGP
Amsurg Corp. 5.25% Mandatory Convertible Pft Stk Ser A-1
AMSGP
+$6.7M

Sector Composition

Rank Sector Weight
1 Miscellaneous 89.95%
2 Financials 9.61%
3 Communication Services 0.32%
4 Healthcare 0.08%
5 Technology 0.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
TMUSP icon
1
DELISTED
T-Mobile US, Inc.5.50% Mandatory Convertible Preferred Stock, Series A
TMUSP
$97.6M 23.28%
1,033,532
+589,368
+133% +$51.1M
2014 Q4
8 quarters
RILY icon
2
BRC Group Holdings
RILY
$186M
$36.9M 8.8%
2,000,000
-20,000
-1% -$302K
2016 Q2
2 quarters
RPT.PRD icon
3
DELISTED
RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest
RPT.PRD
$28.3M 6.75%
461,873
+1,625
+0.4% +$101K
2014 Q4
8 quarters
EPR.PRC icon
4
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$131M
$14.9M 3.57%
525,156
+85,371
+19% +$2.41M
2014 Q4
8 quarters
WELL.PRI icon
5
DELISTED
Welltower Inc.
WELL.PRI
$13.3M 3.17%
220,561
-23,098
-9% -$1.4M
2014 Q4
8 quarters
RYAM.PRA icon
6
DELISTED
Rayonier Advanced Materials Inc. 8.00% Series A Mandatory Convertible Preferred Stock
RYAM.PRA
$12.2M 2.92%
105,596
+22,330
+27% +$2.39M
2016 Q3
1 quarter
BKHU
7
DELISTED
Black Hills Corporation
BKHU
$12M 2.87%
174,758
+101,589
+139% +$6.76M
2015 Q4
4 quarters
WPXP
8
DELISTED
WPX Energy, Inc.
WPXP
$10.3M 2.46%
157,145
+101,346
+182% +$6.16M
2015 Q3
5 quarters
WDC icon
9
PUT
Western Digital
WDC
$136B
$8.22M 1.96%
160,083
-6,615
-4% -$305K
2016 Q2
2 quarters
UVV icon
10
CALL
Universal Corp
UVV
$1.01B
$5.77M 1.38%
90,500
-17,200
-16% -$982K
2015 Q2
6 quarters
FTRPR
11
DELISTED
Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock
FTRPR
$5.73M 1.37%
80,663
+41,611
+107% +$3.19M
2015 Q2
6 quarters
HK
12
CALL
DELISTED
Halcon Resources Corporation
HK
$5.68M 1.36%
+608,700
New +$5.73M
2016 Q4
0 quarters
MDR
13
CALL
DELISTED
McDermott International
MDR
$4.38M 1.04%
197,500
+170,167
+623% +$3.17M
2015 Q2
6 quarters
DYNC icon
14
DELISTED
Vistra Energy Corp.
DYNC
$3.69M 0.88%
59,362
-8,249
-12% -$580K
2016 Q2
2 quarters
KMI icon
15
CALL
Kinder Morgan
KMI
$74.3B
$3.15M 0.75%
152,100
+5,500
+4% +$116K
2015 Q1
7 quarters
JPM icon
16
JPMorgan Chase
JPM
$890B
$3.07M 0.73%
35,560
+35,460
+35,460% +$2.7M
2016 Q3
1 quarter
EVHC.PR
17
DELISTED
Envision Healthcare Corporation
EVHC.PR
$2.7M 0.65%
+22,650
New +$2.85M
2016 Q4
0 quarters
TMUS icon
18
CALL
T-Mobile US
TMUS
$169B
$2.67M 0.64%
46,400
+37,700
+433% +$1.97M
2015 Q3
5 quarters
TMUS icon
19
PUT
T-Mobile US
TMUS
$169B
$2.13M 0.51%
37,000
+3,500
+10% +$183K
2015 Q4
4 quarters
GXP.PRB.CL
20
DELISTED
Great Plains Energy Incorporated
GXP.PRB.CL
$2.08M 0.5%
+41,119
New +$2.09M
2016 Q4
0 quarters
GM.WS.B icon
21
DELISTED
General Motors Company
GM.WS.B
$1.54M 0.37%
89,564
+9,726
+12% +$152K
2015 Q4
4 quarters
MDR
22
PUT
DELISTED
McDermott International
MDR
$1.53M 0.37%
+69,000
New +$1.29M
2016 Q4
0 quarters
TIME icon
23
DELISTED
Time Inc.
TIME
$1.35M 0.32%
+75,731
New +$1.12M
2016 Q4
0 quarters
WDC icon
24
CALL
Western Digital
WDC
$136B
$1.32M 0.31%
25,666
+1,190
+5% +$54.9K
2016 Q1
3 quarters
MDCO
25
CALL
DELISTED
Medicines Co
MDCO
$1.31M 0.31%
38,700
+5,600
+17% +$199K
2016 Q1
3 quarters
1
2 3 4 5

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Equitec Specialists's Q4 2016 Portfolio in Review

As of Q4 2016, Equitec Specialists held 147 positions worth $419M, up 22% from $344M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Equitec Specialists withdrew a net $53.7M in Q4 2016, closing 33 positions and reducing 24 holdings. Its most notable exit was Stanley Black & Decker, Inc., an estimated $12.5M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 90% of assets, up from 90% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Equitec Specialists opened a new position in Envision Healthcare Corporation worth $2.7M.

  • Equitec Specialists's largest Q4 2016 buy was Envision Healthcare Corporation: 22,650 shares worth $2.7M.
  • Equitec Specialists added most to T-Mobile US, Inc.5.50% Mandatory Convertible Preferred Stock, Series A in Q4 2016, an estimated $51.1M increase.
  • Equitec Specialists's biggest Q4 2016 reduction was JPMorgan Chase, cutting an estimated $9.95M.
  • Equitec Specialists fully exited Stanley Black & Decker, Inc. in Q4 2016, selling an estimated $12.5M.
  • Equitec Specialists's ten largest holdings make up 71% of its $419M portfolio in Q4 2016.
  • Equitec Specialists opened 40 new positions and closed 33 in Q4 2016.
  • Equitec Specialists's portfolio value rose 22% quarter-over-quarter to $419M.

Based on Equitec Specialists's 13F filing for Q4 2016, filed 24 Jan 2017.