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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
-0.6%
1 Year Est. Return
+24.37%
3 Year Est. Return
+28.93%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$145M
AUM Growth
-$1.65M
Cap. Flow
+$371K
Cap. Flow %
0.26%
Top 10 Hldgs %
52.14%
Holding
119
New
6
Increased
42
Reduced
21
Closed
11
Avg Time Held
2.6 quarters
Top 10 Avg Time Held
2.5 quarters
Top 20 Avg Time Held
2.8 quarters

Top Buys

Rank Stock Value
1
TYY
TORTOISE ENERGY CAPITAL CORP
TYY
+$7.62M
2
RAI
Reynolds American Inc
RAI
+$415K
3
ERF icon
Enerplus Corporation
ERF
+$295K
4
DFS icon
Discover Financial Services
DFS
+$202K
5
MS icon
Morgan Stanley
MS
+$201K

Top Sells

Rank Stock Value
1
KYN icon
Kayne Anderson Energy Infrastructure Fund
KYN
+$7.47M
2
KMP
KINDER MORGAN ENER PNTRS L.P.
KMP
+$681K
3
HAS icon
Hasbro
HAS
+$371K
4
VOD icon
Vodafone
VOD
+$358K
5
RTN
Raytheon Company
RTN
+$341K

Sector Composition

Rank Sector Weight
1 Miscellaneous 38.57%
2 Energy 15.28%
3 Financials 9.93%
4 Healthcare 7.79%
5 Consumer Staples 6.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
MS icon
101
Morgan Stanley
MS
$298B
$203K 0.14%
+6,510
New +$201K
2014 Q1
0 quarters
NLY icon
102
Annaly Capital Management
NLY
$13.8B
$194K 0.13%
4,428
– –
2013 Q2
3 quarters
SPXX icon
103
Nuveen S&P 500 Dynamic Overwrite Fund
SPXX
$340M
$184K 0.13%
13,011
– –
2013 Q2
3 quarters
EXG icon
104
Eaton Vance Tax-Managed Global Diversified Equity Income Fund
EXG
$2.91B
$142K 0.1%
14,070
– –
2013 Q2
3 quarters
SID icon
105
Companhia Siderúrgica Nacional
SID
$1.67B
$123K 0.08%
28,200
– –
2013 Q2
3 quarters
TSI icon
106
TCW Strategic Income Fund
TSI
$270M
$123K 0.08%
+22,600
New +$122K
2014 Q1
0 quarters
USA icon
107
Liberty All-Star Equity Fund
USA
$1.82B
$75K 0.05%
12,737
– –
2013 Q2
3 quarters
MIN
108
Aberdeen Intermediate Income Fund
MIN
$262M
$73K 0.05%
2,358
– –
2013 Q4
1 quarter
BMY icon
109
Bristol-Myers Squibb
BMY
$117B
– –
-4,216
Closed -$224K –
COST icon
110
Costco
COST
$425B
– –
-1,700
Closed -$202K –
ETV icon
111
Eaton Vance Tax-Managed Buy-Write Opportunities Fund
ETV
$1.77B
– –
-13,580
Closed -$190K –
HAS icon
112
Hasbro
HAS
$13.3B
– –
-6,750
Closed -$371K –
MET icon
113
MetLife
MET
$63.4B
– –
-4,954
Closed -$238K –
PM icon
114
Philip Morris
PM
$315B
– –
-2,565
Closed -$223K –
VOD icon
115
Vodafone
VOD
$35.6B
– –
-8,922
Closed -$358K –
RTN
116
DELISTED
Raytheon Company
RTN
– –
-3,760
Closed -$341K –
SPIL
117
DELISTED
Siliconware Precision Industries Co Ltd
SPIL
– –
-32,249
Closed -$193K –
KMP
118
DELISTED
KINDER MORGAN ENER PNTRS L.P.
KMP
– –
-8,446
Closed -$681K –
EPB
119
DELISTED
EL PASO PIPELINE PARTNERS, L.P. COM UNITS REPSTG LTD PART
EPB
– –
-6,741
Closed -$243K –
1 2 3 4
5

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AZA
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CCM
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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 Q1 2014 Portfolio in Review

As of Q1 2014, Independence Trust held 119 positions worth $145M, down 1.1% from $147M the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Independence Trust's Q1 2014 filing shows 6 new, 42 increased, 21 reduced and 11 closed positions. Its largest new stake was TORTOISE ENERGY CAPITAL CORP: 235,979 shares worth $7.82M. The largest sale was Kayne Anderson Energy Infrastructure Fund, an estimated $7.47M.

By sector, the portfolio is most concentrated in Miscellaneous at 39% of assets, down from 46% a quarter earlier, followed by Energy and Financials.

  • Independence Trust's largest Q1 2014 buy was TORTOISE ENERGY CAPITAL CORP: 235,979 shares worth $7.82M.
  • Independence Trust added most to Spectra Engy Parters Lp in Q1 2014, an estimated $187K increase.
  • Independence Trust's biggest Q1 2014 reduction was Kayne Anderson Energy Infrastructure Fund, cutting an estimated $7.47M.
  • Independence Trust fully exited KINDER MORGAN ENER PNTRS L.P. in Q1 2014, selling an estimated $681K.
  • Independence Trust's ten largest holdings make up 52% of its $145M portfolio in Q1 2014.
  • Independence Trust opened 6 new positions and closed 11 in Q1 2014.
  • Independence Trust's portfolio value fell 1.1% quarter-over-quarter to $145M.

Based on Independence Trust's 13F filing for Q1 2014, filed 9 Apr 2014.