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FAM

Forty4 Asset Management Portfolio holdings

AUM $29.6M
1-Year Est. Return 5.85%
This Fund
S&P 500
This Quarter Est. Return
-6.9%
1 Year Est. Return
-5.85%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$125M
AUM Growth
-$188M
Cap. Flow
-$167M
Cap. Flow %
-133.76%
Top 10 Hldgs %
87.23%
Holding
232
New
41
Increased
11
Reduced
24
Closed
151

Top Buys

Rank Stock Value
1
ONIT
Onity Group
ONIT
+$11M
2
ANR
Alpha Natural Resources Inc
ANR
+$8.88M
3
WLT
WALTER ENERGY INC COM STK (DE)
WLT
+$6.92M
4
ACI
ARCH COAL, INC.
ACI
+$2.78M
5
MS icon
Morgan Stanley
MS
+$1.97M

Top Sells

Rank Stock Value
1
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$29.6M
2
CEF icon
Sprott Physical Gold and Silver Trust
CEF
+$26.4M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$21.3M
4
GTU
CENTRAL GOLD TR (CANADA)
GTU
+$18.8M
5
XLE icon
State Street Energy Select Sector SPDR ETF
XLE
+$13.8M

Sector Composition

Rank Sector Weight
1 Financials 10.87%
2 Energy 10.59%
3 Consumer Discretionary 0.9%
4 Communication Services 0.28%
5 Industrials 0.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KOL
201
CALL
DELISTED
VanEck Vectors Coal ETF
KOL
– –
-2,000
Closed -$3K
KOL
202
PUT
DELISTED
VanEck Vectors Coal ETF
KOL
– –
-4,100
Closed -$10K
AVP
203
DELISTED
Avon Products, Inc.
AVP
– –
-8,900
Closed -$153K
AVP
204
PUT
DELISTED
Avon Products, Inc.
AVP
– –
-30,000
Closed -$41K
P
205
PUT
DELISTED
Pandora Media Inc
P
– –
-50,000
Closed -$1K
ARII
206
CALL
DELISTED
American Railcar Industries, Inc.
ARII
– –
-9,600
Closed -$30K
ARII
207
DELISTED
American Railcar Industries, Inc.
ARII
– –
-600
Closed -$27K
ARII
208
PUT
DELISTED
American Railcar Industries, Inc.
ARII
– –
-29,000
Closed -$30K
GCH
209
DELISTED
Aberdeen Greater China Fund
GCH
– –
-18,186
Closed -$185K
ALJ
210
DELISTED
Alon USA Energy Inc
ALJ
– –
-7,000
Closed -$116K
ALJ
211
PUT
DELISTED
Alon USA Energy Inc
ALJ
– –
-23,000
Closed -$17K
JOY
212
DELISTED
Joy Global Inc
JOY
– –
-1,800
Closed -$105K
JOY
213
PUT
DELISTED
Joy Global Inc
JOY
– –
-25,000
Closed -$3K
ARIA
214
CALL
DELISTED
Ariad Pharmaceuticals Inc
ARIA
– –
-56,500
Closed -$19K
ARIA
215
DELISTED
Ariad Pharmaceuticals Inc
ARIA
– –
-13,700
Closed -$93K
NRF
216
CALL
DELISTED
NorthStar Realty Finance Corp.
NRF
– –
-25,463
Closed -$71K
GTU
217
DELISTED
CENTRAL GOLD TR (CANADA)
GTU
– –
-452,477
Closed -$18.8M
SD
218
DELISTED
SANDRIDGE ENERGY, INC.
SD
– –
-9,350
Closed -$57K
SD
219
PUT
DELISTED
SANDRIDGE ENERGY, INC.
SD
– –
-256,900
Closed -$4K
RYL
220
CALL
DELISTED
RYLAND GROUP INC
RYL
– –
-900
Closed -$6K
RYL
221
DELISTED
RYLAND GROUP INC
RYL
– –
-18,500
Closed -$803K
RYL
222
PUT
DELISTED
RYLAND GROUP INC
RYL
– –
-65,200
Closed -$130K
KRFT
223
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
– –
-87,514
Closed -$4.72M
KRFT
224
PUT
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
– –
-278,600
Closed -$202K
RSH
225
CALL
DELISTED
RADIOSHACK CORP
RSH
– –
-50,000
Closed -$14K
6 7 8
9
10

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EI
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LCM
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GIA
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SXM
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LFCM
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KSC
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Forty4 Asset Management's Q1 2014 Portfolio in Review

As of Q1 2014, Forty4 Asset Management held 232 positions worth $125M, down 60% from $313M the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Forty4 Asset Management withdrew a net $167M in Q1 2014, closing 151 positions and reducing 24 holdings. Its most notable exit was iShares 20+ Year Treasury Bond ETF, an estimated $29.6M position sold in full.

By sector, the portfolio is most concentrated in Financials at 11% of assets, up from 8.6% a quarter earlier, followed by Energy and Consumer Discretionary.

Against the trend, Forty4 Asset Management opened a new position in Onity Group worth $9.99M.

  • Forty4 Asset Management's largest Q1 2014 buy was Onity Group: 17,004 shares worth $9.99M.
  • Forty4 Asset Management added most to Alpha Natural Resources Inc in Q1 2014, an estimated $8.88M increase.
  • Forty4 Asset Management's biggest Q1 2014 reduction was Sprott Physical Gold and Silver Trust, cutting an estimated $26.4M.
  • Forty4 Asset Management fully exited iShares 20+ Year Treasury Bond ETF in Q1 2014, selling an estimated $29.6M.
  • Forty4 Asset Management's ten largest holdings make up 87% of its $125M portfolio in Q1 2014.
  • Forty4 Asset Management opened 41 new positions and closed 151 in Q1 2014.
  • Forty4 Asset Management's portfolio value fell 60% quarter-over-quarter to $125M.

Based on Forty4 Asset Management's 13F filing for Q1 2014, filed 8 May 2014.