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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
CEF icon
1
Sprott Physical Gold and Silver Trust
CEF
$7.48B
$58.3M 46.64%
4,235,784
-1,855,345
-30% -$26.4M
ONIT
2
Onity Group
ONIT
$340M
$9.99M 8%
+17,004
New +$11M
ANR
3
DELISTED
Alpha Natural Resources Inc
ANR
$9.21M 7.37%
2,166,222
+1,655,910
+324% +$8.88M
WLT
4
PUT
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
$6.54M 5.23%
1,735,500
+1,490,300
+608% +$16.4M
ANR
5
PUT
DELISTED
Alpha Natural Resources Inc
ANR
$6.24M 4.99%
3,909,200
-766,800
-16% -$4.11M
WLT
6
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
$4.94M 3.96%
653,807
+629,131
+2,550% +$6.92M
SPY icon
7
State Street SPDR S&P 500 ETF Trust
SPY
$780B
$4.35M 3.48%
23,250
-116,070
-83% -$21.3M
PBR icon
8
Petrobras
PBR
$117B
$3.45M 2.76%
262,048
+136,950
+109% +$1.6M
ACI
9
DELISTED
ARCH COAL, INC.
ACI
$3.24M 2.59%
67,128
+64,868
+2,870% +$2.78M
ONIT
10
PUT
Onity Group
ONIT
$340M
$2.79M 2.23%
+16,800
New +$10.9M
MS icon
11
Morgan Stanley
MS
$333B
$1.99M 1.59%
+63,900
New +$1.97M
XLF icon
12
State Street Financial Select Sector SPDR ETF
XLF
$56.5B
$1.57M 1.26%
80,074
+50,342
+169% +$961K
ACI
13
PUT
DELISTED
ARCH COAL, INC.
ACI
$1.34M 1.07%
516,050
+360,120
+231% +$15.4M
AA icon
14
CALL
Alcoa
AA
$11.7B
$1.19M 0.96%
101,956
-238,493
-70% -$6.63M
LFC
15
DELISTED
China Life Insurance Company Ltd.
LFC
$1.04M 0.83%
+73,545
New +$1.03M
JCP
16
DELISTED
J.C. Penney Company, Inc.
JCP
$912K 0.73%
105,800
-1,059,756
-91% -$7.65M
DK icon
17
Delek US
DK
$3.9B
$871K 0.7%
+30,000
New +$907K
ACI
18
CALL
DELISTED
ARCH COAL, INC.
ACI
$649K 0.52%
70,770
+43,220
+157% +$1.85M
WLT
19
CALL
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
$628K 0.5%
408,400
+308,300
+308% +$3.39M
EEM icon
20
iShares MSCI Emerging Markets ETF
EEM
$28.4B
$620K 0.5%
15,118
+318
+2% +$12.5K
IWM icon
21
iShares Russell 2000 ETF
IWM
$80.1B
$607K 0.49%
5,215
-36,285
-87% -$4.19M
PBR icon
22
PUT
Petrobras
PBR
$117B
$452K 0.36%
400,000
-126,900
-24% -$1.48M
BTU
23
DELISTED
PEABODY ENERGY CORP COM STK NEW (DE)
BTU
$375K 0.3%
+1,530
New +$388K
VOD icon
24
Vodafone
VOD
$36.4B
$345K 0.28%
+9,373
New +$361K
HDB icon
25
HDFC Bank
HDB
$119B
$283K 0.23%
+27,600
New +$240K
1
2 3 4 5

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EI
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LCM
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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.