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FRM

Fore Research & Management Portfolio holdings

AUM $221M
1-Year Est. Return 2.93%
This Fund
S&P 500
This Quarter Est. Return
-0.33%
1 Year Est. Return
+2.93%
3 Year Est. Return
+1.94%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.9B
AUM Growth
+$505M
Cap. Flow
-$143M
Cap. Flow %
-4.94%
Top 10 Hldgs %
98.63%
Holding
49
New
9
Increased
4
Reduced
3
Closed
28

Top Buys

Rank Stock Value
1
YPF icon
YPF
YPF
+$8.23M
2
SDS icon
ProShares UltraShort S&P500
SDS
+$8.03M
3
PHYS icon
Sprott Physical Gold
PHYS
+$2.72M
4
AVK
Advent Convertible and Income Fund
AVK
+$2.27M
5
GLD icon
SPDR Gold Trust
GLD
+$2.11M

Top Sells

Rank Stock Value
1
CTXS
Citrix Systems Inc
CTXS
+$6.72M
2
AEM icon
Agnico Eagle Mines
AEM
+$5.82M
3
GGAL icon
Galicia Financial Group
GGAL
+$5M
4
GG
Goldcorp Inc
GG
+$4.84M
5
NEM icon
Newmont
NEM
+$4.82M

Sector Composition

Rank Sector Weight
1 Energy 0.24%
2 Communication Services 0.08%
3 Consumer Discretionary 0.01%
4 Materials 0%
5 Real Estate 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$787B
$1.23B 42.58%
6,050,000
+5,050,000
+505% +$1.04B
GLD icon
2
CALL
SPDR Gold Trust
GLD
$132B
$558M 19.26%
5,500,000
-3,400,000
-38% -$359M
SPY icon
3
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$787B
$204M 7.04%
+1,000,000
New +$205M
AMZN icon
4
PUT
Amazon
AMZN
$2.66T
$88.9M 3.07%
2,630,000
-8,000,000
-75% -$252M
AVGO icon
5
PUT
Broadcom
AVGO
$1.84T
$42.1M 1.45%
2,900,000
-1,600,000
-36% -$20.8M
GDX icon
6
CALL
VanEck Gold Miners ETF
GDX
$22.7B
$41.2M 1.42%
3,000,000
+1,600,000
+114% +$23.2M
AAPL icon
7
PUT
Apple
AAPL
$4.81T
$10.5M 0.36%
+400,000
New +$11.4M
SDS icon
8
ProShares UltraShort S&P500
SDS
$396M
$7.97M 0.28%
+4,000
New +$8.03M
SLV icon
9
CALL
iShares Silver Trust
SLV
$28.4B
$7.91M 0.27%
600,000
– –
YPF icon
10
YPF
YPF
$20.1B
$7.07M 0.24%
+450,000
New +$8.23M
CEF icon
11
Sprott Physical Gold and Silver Trust
CEF
$7.5B
$7.07M 0.24%
707,677
+157,677
+29% +$1.67M
PHYS icon
12
Sprott Physical Gold
PHYS
$14.7B
$2.62M 0.09%
+300,000
New +$2.72M
AVK
13
Advent Convertible and Income Fund
AVK
$559M
$2.23M 0.08%
+169,455
New +$2.27M
GLD icon
14
SPDR Gold Trust
GLD
$132B
$2.03M 0.07%
+20,000
New +$2.11M
P
15
DELISTED
Pandora Media Inc
P
$1.52M 0.05%
+113,166
New +$1.69M
CCO icon
16
Clear Channel Outdoor Holdings
CCO
$1.22B
$680K 0.02%
121,662
+116,662
+2,333% +$721K
JCP
17
DELISTED
J.C. Penney Company, Inc.
JCP
$414K 0.01%
+62,226
New +$519K
CCJ icon
18
CALL
Cameco
CCJ
$38.6B
$246K 0.01%
20,000
– –
AEM icon
19
Agnico Eagle Mines
AEM
$70.8B
– –
-229,949
Closed -$5.82M
FCX icon
20
CALL
Freeport-McMoran
FCX
$89.9B
– –
-1,000
Closed -$9K
GDX icon
21
VanEck Gold Miners ETF
GDX
$22.7B
– –
-180,000
Closed -$2.61M
GGAL icon
22
Galicia Financial Group
GGAL
$8.18B
– –
-280,491
Closed -$5M
B
23
Barrick Mining
B
$60.9B
– –
-292,000
Closed -$1.86M
IWM icon
24
CALL
iShares Russell 2000 ETF
IWM
$82.4B
– –
-50,000
Closed -$5.46M
META icon
25
PUT
Meta Platforms (Facebook)
META
$1.63T
– –
-360,200
Closed -$32.4M
1
2

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Fore Research & Management's Q4 2015 Portfolio in Review

As of Q4 2015, Fore Research & Management held 49 positions worth $2.9B, up 21% from $2.39B the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Fore Research & Management withdrew a net $143M in Q4 2015, closing 28 positions and reducing 3 holdings. Its most notable exit was Citrix Systems Inc, an estimated $6.72M position sold in full.

By sector, the portfolio is most concentrated in Energy at 0.24% of assets, up from 0.05% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, Fore Research & Management opened a new position in YPF worth $7.07M.

  • Fore Research & Management's largest Q4 2015 buy was YPF: 450,000 shares worth $7.07M.
  • Fore Research & Management added most to Sprott Physical Gold and Silver Trust in Q4 2015, an estimated $1.67M increase.
  • Fore Research & Management fully exited Citrix Systems Inc in Q4 2015, selling an estimated $6.72M.
  • Fore Research & Management's ten largest holdings make up 99% of its $2.9B portfolio in Q4 2015.
  • Fore Research & Management opened 9 new positions and closed 28 in Q4 2015.
  • Fore Research & Management's portfolio value rose 21% quarter-over-quarter to $2.9B.

Based on Fore Research & Management's 13F filing for Q4 2015, filed 16 Feb 2016.