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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
-0.36%
1 Year Est. Return
+25.27%
3 Year Est. Return
+65.41%
5 Year Est. Return
+95.52%
10 Year Est. Return
–
AUM
$523M
AUM Growth
-$127M
(-20%)
Cap. Flow
-$293M
Cap. Flow % of AUM
Cap. Flow %
-56.08%
Top 10 Holdings %
Top 10 Hldgs %
70.42%
Holding
123
New
26
Increased
30
Reduced
21
Closed
20
Avg Time Held
Equity + Options
0.6
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
0.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NextEra Energy, Inc.
NEE.PRQ
|
+$64.2M |
| 2 |
AGN.PRA
Allergan plc
AGN.PRA
|
+$52.6M |
| 3 |
American Tower Corporation
AMT.PRB
|
+$16.2M |
| 4 |
Anthem, Inc.
ANTX
|
+$6.09M |
| 5 |
Rayonier Advanced Materials Inc. 8.00% Series A Mandatory Convertible Preferred Stock
RYAM.PRA
|
+$4.62M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
T-Mobile US, Inc.5.50% Mandatory Convertible Preferred Stock, Series A
TMUSP
|
+$145M |
| 2 |
ARNC.PRB
Arconic Inc.
ARNC.PRB
|
+$64M |
| 3 |
BKHU
Black Hills Corporation
BKHU
|
+$16.2M |
| 4 |
Welltower Inc.
WELL.PRI
|
+$12.5M |
| 5 |
Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A
CCI.PRA
|
+$10.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 98.91% |
| 2 | Industrials | 0.65% |
| 3 | Energy | 0.2% |
| 4 | Communication Services | 0.09% |
| 5 | Technology | 0.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
DELISTED
NextEra Energy, Inc.
NEE.PRQ
| $86.1M | 16.47% |
1,237,229
+927,277
| +299% | +$64.2M |
2017 Q2
2 quarters
|
|
|
AGN.PRA
2
DELISTED
Allergan plc
AGN.PRA
| $58.9M | 11.26% |
100,404
+81,493
| +431% | +$52.6M |
2015 Q2
10 quarters
|
|
|
3
DELISTED
American Tower Corporation
AMT.PRB
| $40.6M | 7.77% |
322,876
+128,486
| +66% | +$16.2M |
2017 Q3
1 quarter
|
|
|
BKHU
4
DELISTED
Black Hills Corporation
BKHU
| $21.3M | 4.07% |
321,987
-240,747
| -43% | -$16.2M |
2015 Q4
8 quarters
|
|
5
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$143M
| $17.1M | 3.28% |
636,953
-71,933
| -10% | -$1.98M |
2014 Q4
12 quarters
|
|
|
AGN
6
CALL
DELISTED
Allergan plc
AGN
| $15.2M | 2.91% |
93,000
+44,500
| +92% | +$7.99M |
2017 Q2
2 quarters
|
|
|
7
DELISTED
Rayonier Advanced Materials Inc. 8.00% Series A Mandatory Convertible Preferred Stock
RYAM.PRA
| $15M | 2.87% |
103,206
+37,939
| +58% | +$4.62M |
2016 Q3
5 quarters
|
|
|
8
DELISTED
Anthem, Inc.
ANTX
| $6.28M | 1.2% |
+112,144
| New | +$6.09M |
2017 Q4
0 quarters
|
|
9
DELISTED
Virtus Investment Partners, Inc. 7.25% Series D Mandatory Convertible Preferred Stock
VRTSP
| $5.7M | 1.09% |
56,016
-9,278
| -14% | -$961K |
2017 Q1
3 quarters
|
|
10
PUT
Western Digital
WDC
$117B
| $5.43M | 1.04% |
90,361
| – | – |
2016 Q2
6 quarters
|
|
11
DELISTED
RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest
RPT.PRD
| $4.93M | 0.94% |
85,563
+32,834
| +62% | +$1.84M |
2014 Q4
12 quarters
|
|
|
12
PUT
EPR Properties
EPR
$4.6B
| $4.27M | 0.82% |
65,200
-21,100
| -24% | -$1.44M |
2017 Q1
3 quarters
|
|
|
SWNC
13
DELISTED
Southwestern Energy Company
SWNC
| $4.02M | 0.77% |
337,952
+207,465
| +159% | +$2.77M |
2017 Q2
2 quarters
|
|
14
DELISTED
Iridium Communications Inc - 6.75% Series B
IRDMB
| $3.17M | 0.61% |
7,638
+6,495
| +568% | +$2.63M |
2017 Q3
1 quarter
|
|
|
TWNKW
15
DELISTED
Hostess Brands, Inc. Warrants
TWNKW
| $3.04M | 0.58% |
1,306,366
+792,634
| +154% | +$1.46M |
2016 Q4
4 quarters
|
|
16
XPO
XPO
$21.9B
| $2.98M | 0.57% |
93,970
-4,317
| -4% | -$110K |
2017 Q3
1 quarter
|
|
|
FTR
17
PUT
DELISTED
Frontier Communications Corp.
FTR
| $2.5M | 0.48% |
369,900
+244,400
| +195% | +$2.28M |
2017 Q1
3 quarters
|
|
|
18
PUT
NextEra Energy
NEE
$180B
| $2.34M | 0.45% |
+60,000
| New | +$2.32M |
2017 Q4
0 quarters
|
|
|
WPXP
19
DELISTED
WPX Energy, Inc.
WPXP
| $2.13M | 0.41% |
34,382
+26,228
| +322% | +$1.44M |
2015 Q3
9 quarters
|
|
20
PUT
Teva Pharmaceutical Industries Limited
TEVA
$50.2B
| $1.95M | 0.37% |
102,900
-16,700
| -14% | -$251K |
2017 Q3
1 quarter
|
|
|
DSKEW
21
DELISTED
Daseke, Inc. Warrant
DSKEW
| $1.67M | 0.32% |
819,877
+123,196
| +18% | +$208K |
2017 Q1
3 quarters
|
|
22
DELISTED
American International Group, Inc.
AIG.WS
| $1.64M | 0.31% |
90,222
+57,982
| +180% | +$1.14M |
2017 Q2
2 quarters
|
|
|
23
DELISTED
Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A
CCI.PRA
| $1.57M | 0.3% |
1,384
-9,313
| -87% | -$10.3M |
2017 Q3
1 quarter
|
|
|
FTRPR
24
DELISTED
Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock
FTRPR
| $1.33M | 0.25% |
122,658
+99,797
| +437% | +$1.56M |
2015 Q2
10 quarters
|
|
25
EQT Corp
EQT
$33B
| $1.04M | 0.2% |
+33,727
| New | +$1.11M |
2017 Q4
0 quarters
|
|
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YECIP
Equitec Specialists's Q4 2017 Portfolio in Review
As of Q4 2017, Equitec Specialists held 123 positions worth $523M, down 20% from $650M the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Equitec Specialists withdrew a net $293M in Q4 2017, closing 20 positions and reducing 21 holdings. Its most notable exit was T-Mobile US, Inc.5.50% Mandatory Convertible Preferred Stock, Series A, an estimated $145M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 99% of assets, down from 99% a quarter earlier, followed by Industrials and Energy.
Against the trend, Equitec Specialists opened a new position in Anthem, Inc. worth $6.28M.
- Equitec Specialists's largest Q4 2017 buy was Anthem, Inc.: 112,144 shares worth $6.28M.
- Equitec Specialists added most to NextEra Energy, Inc. in Q4 2017, an estimated $64.2M increase.
- Equitec Specialists's biggest Q4 2017 reduction was Black Hills Corporation, cutting an estimated $16.2M.
- Equitec Specialists fully exited T-Mobile US, Inc.5.50% Mandatory Convertible Preferred Stock, Series A in Q4 2017, selling an estimated $145M.
- Equitec Specialists's ten largest holdings make up 70% of its $523M portfolio in Q4 2017.
- Equitec Specialists opened 26 new positions and closed 20 in Q4 2017.
- Equitec Specialists's portfolio value fell 20% quarter-over-quarter to $523M.
Based on Equitec Specialists's 13F filing for Q4 2017, filed 24 Jan 2018.