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Independence Trust Portfolio holdings

AUM $90.5M
1-Year Est. Return 24.37%
This Fund
S&P 500
This Quarter Est. Return
+7.8%
1 Year Est. Return
+24.37%
3 Year Est. Return
+28.93%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$76.8M
AUM Growth
-$20.7M
Cap. Flow
-$25.8M
Cap. Flow %
-33.59%
Top 10 Hldgs %
47.33%
Holding
106
New
6
Increased
14
Reduced
29
Closed
37

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$477K
2
CAT icon
Caterpillar
CAT
+$377K
3
HSY icon
Hershey
HSY
+$323K
4
MSD
Morgan Stanley Emerging Markets Debt Fund
MSD
+$293K
5
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$287K

Top Sells

Rank Stock Value
1
KYN icon
Kayne Anderson Energy Infrastructure Fund
KYN
+$11.2M
2
TYG
Tortoise Energy Infrastructure Corp
TYG
+$1.61M
3
GFY
Western Asset Variable Rate Strategic Fund, Inc
GFY
+$976K
4
BTZ icon
BlackRock Credit Allocation Income Trust
BTZ
+$971K
5
ACG
AllianceBernstein Income Fund Inc
ACG
+$827K

Sector Composition

Rank Sector Weight
1 Healthcare 16.46%
2 Industrials 15.65%
3 Technology 13.02%
4 Communication Services 11.57%
5 Consumer Staples 10.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HSY icon
51
Hershey
HSY
$36.4B
$322K 0.42%
+3,606
New +$323K
EFA icon
52
iShares MSCI EAFE ETF
EFA
$79.8B
$305K 0.4%
5,201
– –
VNQ icon
53
Vanguard Real Estate ETF
VNQ
$38.8B
$298K 0.39%
3,732
-99
-3% -$7.84K
MS icon
54
Morgan Stanley
MS
$337B
$291K 0.38%
9,147
– –
MSD
55
Morgan Stanley Emerging Markets Debt Fund
MSD
$147M
$291K 0.38%
+33,929
New +$293K
NEE icon
56
NextEra Energy
NEE
$174B
$279K 0.36%
10,736
– –
AMLP icon
57
Alerian MLP ETF
AMLP
$13.4B
$274K 0.36%
4,541
-817
-15% -$51.1K
RTN
58
DELISTED
Raytheon Company
RTN
$274K 0.36%
2,200
– –
VWO icon
59
Vanguard FTSE Emerging Markets ETF
VWO
$127B
$273K 0.36%
+8,350
New +$287K
KMB icon
60
Kimberly-Clark
KMB
$36.6B
$254K 0.33%
1,993
– –
EPD icon
61
Enterprise Products Partners
EPD
$84.3B
$239K 0.31%
9,330
-2,150
-19% -$55.9K
V icon
62
Visa
V
$709B
$236K 0.31%
+3,040
New +$235K
BIIB icon
63
Biogen
BIIB
$32.7B
$222K 0.29%
725
-104
-13% -$29.9K
ROST icon
64
Ross Stores
ROST
$73.7B
$221K 0.29%
4,100
-390
-9% -$19.9K
MITT
65
TPG Mortgage Investment Trust
MITT
$212M
$180K 0.23%
4,662
– –
CPRX
66
DELISTED
Catalyst Pharmaceutical
CPRX
$103K 0.13%
42,000
+14,000
+50% +$40.1K
BDJ icon
67
BlackRock Enhanced Equity Dividend Trust
BDJ
$1.73B
$79K 0.1%
10,358
-90,965
-90% -$686K
PPT
68
Franklin Premier Income Trust
PPT
$330M
$51K 0.07%
10,274
-153,855
-94% -$764K
BKT icon
69
BlackRock Income Trust
BKT
$335M
– –
-6,207
Closed -$117K
BSL
70
Blackstone Senior Floating Rate 2027 Term Fund
BSL
$169M
– –
-17,627
Closed -$280K
BTZ icon
71
BlackRock Credit Allocation Income Trust
BTZ
$948M
– –
-79,786
Closed -$971K
CMG icon
72
Chipotle Mexican Grill
CMG
$47.1B
– –
-16,500
Closed -$238K
CSX icon
73
CSX Corp
CSX
$95.5B
– –
-28,800
Closed -$258K
EMD
74
Western Asset Emerging Markets Debt Fund
EMD
$615M
– –
-20,564
Closed -$274K
ETJ
75
Eaton Vance Risk-Managed Diversified Equity Income Fund
ETJ
$570M
– –
-47,155
Closed -$453K
1 2
3
4 5

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AZA
Arthur Zaske & Associates Bingham Farms, Michigan $91.5M AUM 9.44% 1-Year Est. Return
CCM
Conatus Capital Management Greenwich, Connecticut $92.3M AUM 45.31% 1-Year Est. Return
MIM
MPI Investment Management Hinsdale, Illinois $83.5M AUM
YCM
Yorkville Capital Management New York $82.8M AUM 0.41% 1-Year Est. Return
GCM
Goldman Capital Management New York $103M AUM 21.37% 1-Year Est. Return
HIM
Hutchens Investment Management Concord, New Hampshire $106M AUM 27.22% 1-Year Est. Return
MIS
Man Investments (Switzerland) Pfaffikon, Switzerland $107M AUM 0.04% 1-Year Est. Return
CL
Croft-Leominster Baltimore, Maryland $107M AUM 27.94% 1-Year Est. Return

Independence Trust's Q4 2015 Portfolio in Review

As of Q4 2015, Independence Trust held 106 positions worth $76.8M, down 21% from $97.5M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Independence Trust withdrew a net $25.8M in Q4 2015, closing 37 positions and reducing 29 holdings. Its most notable exit was Kayne Anderson Energy Infrastructure Fund, an estimated $11.2M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 16% of assets, up from 13% a quarter earlier, followed by Industrials and Technology.

Against the trend, Independence Trust opened a new position in Alphabet (Google) Class A worth $502K.

  • Independence Trust's largest Q4 2015 buy was Alphabet (Google) Class A: 12,900 shares worth $502K.
  • Independence Trust added most to Walt Disney in Q4 2015, an estimated $187K increase.
  • Independence Trust's biggest Q4 2015 reduction was Franklin Premier Income Trust, cutting an estimated $764K.
  • Independence Trust fully exited Kayne Anderson Energy Infrastructure Fund in Q4 2015, selling an estimated $11.2M.
  • Independence Trust's ten largest holdings make up 47% of its $76.8M portfolio in Q4 2015.
  • Independence Trust opened 6 new positions and closed 37 in Q4 2015.
  • Independence Trust's portfolio value fell 21% quarter-over-quarter to $76.8M.

Based on Independence Trust's 13F filing for Q4 2015, filed 29 Jan 2016.