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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
-7.42%
1 Year Est. Return
+24.37%
3 Year Est. Return
+28.93%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$97.5M
AUM Growth
-$51M
Cap. Flow
-$39.3M
Cap. Flow %
-40.35%
Top 10 Hldgs %
43.52%
Holding
131
New
12
Increased
23
Reduced
51
Closed
32

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$1.24M
2
MDY icon
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
+$827K
3
WFC icon
Wells Fargo
WFC
+$485K
4
LMT icon
Lockheed Martin
LMT
+$468K
5
NVO
Novo Nordisk
NVO
+$422K

Top Sells

Rank Stock Value
1
KYN icon
Kayne Anderson Energy Infrastructure Fund
KYN
+$18.5M
2
TYG
Tortoise Energy Infrastructure Corp
TYG
+$6.2M
3
BTZ icon
BlackRock Credit Allocation Income Trust
BTZ
+$920K
4
TY icon
TRI-Continental Corp
TY
+$803K
5
PPT
Franklin Premier Income Trust
PPT
+$706K

Sector Composition

Rank Sector Weight
1 Miscellaneous 29.82%
2 Healthcare 12.97%
3 Industrials 11%
4 Technology 9.58%
5 Communication Services 8.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BTI icon
101
British American Tobacco
BTI
$121B
– –
-7,980
Closed -$432K
CAT icon
102
Caterpillar
CAT
$376B
– –
-2,657
Closed -$225K
COP icon
103
ConocoPhillips
COP
$156B
– –
-6,725
Closed -$413K
COST icon
104
Costco
COST
$415B
– –
-1,700
Closed -$230K
DVY icon
105
iShares Select Dividend ETF
DVY
$23.8B
– –
-2,997
Closed -$225K
GILD icon
106
Gilead Sciences
GILD
$185B
– –
-1,916
Closed -$224K
HMC icon
107
Honda
HMC
$40.7B
– –
-10,520
Closed -$341K
HSBC icon
108
HSBC
HSBC
$352B
– –
-8,940
Closed -$357K
IGSB icon
109
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.4B
– –
-5,360
Closed -$282K
ING icon
110
ING
ING
$100B
– –
-22,550
Closed -$374K
JMM icon
111
Nuveen Multi-Market Income Fund
JMM
$54.9M
– –
-20,994
Closed -$151K
KMI icon
112
Kinder Morgan
KMI
$70.2B
– –
-5,202
Closed -$200K
LLY icon
113
Eli Lilly
LLY
$1.05T
– –
-6,420
Closed -$536K
MFC icon
114
Manulife Financial
MFC
$71.6B
– –
-23,015
Closed -$428K
MO icon
115
Altria Group
MO
$113B
– –
-10,205
Closed -$499K
MSD
116
Morgan Stanley Emerging Markets Debt Fund
MSD
$147M
– –
-15,487
Closed -$140K
NLY icon
117
Annaly Capital Management
NLY
$17.4B
– –
-4,428
Closed -$163K
RY icon
118
Royal Bank of Canada
RY
$284B
– –
-3,461
Closed -$212K
SDS icon
119
ProShares UltraShort S&P500
SDS
$391M
– –
-116
Closed -$243K
SID icon
120
Companhia Siderúrgica Nacional
SID
$1.41B
– –
-28,200
Closed -$46K
SNY icon
121
Sanofi
SNY
$107B
– –
-9,480
Closed -$469K
TTE icon
122
TotalEnergies
TTE
$191B
– –
-5,645
Closed -$277K
UBS icon
123
UBS Group
UBS
$166B
– –
-16,345
Closed -$347K
USA icon
124
Liberty All-Star Equity Fund
USA
$1.85B
– –
-12,737
Closed -$73K
VOD icon
125
Vodafone
VOD
$36.7B
– –
-8,006
Closed -$292K
2 3 4
5
6

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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 Q3 2015 Portfolio in Review

As of Q3 2015, Independence Trust held 131 positions worth $97.5M, down 34% from $148M the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Independence Trust withdrew a net $39.3M in Q3 2015, closing 32 positions and reducing 51 holdings. Its most notable exit was Eli Lilly, an estimated $536K position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 30% of assets, down from 47% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Independence Trust opened a new position in Alphabet (Google) Class C worth $404K.

  • Independence Trust's largest Q3 2015 buy was Alphabet (Google) Class C: 12,660 shares worth $404K.
  • Independence Trust added most to Apple in Q3 2015, an estimated $1.24M increase.
  • Independence Trust's biggest Q3 2015 reduction was Kayne Anderson Energy Infrastructure Fund, cutting an estimated $18.5M.
  • Independence Trust fully exited Eli Lilly in Q3 2015, selling an estimated $536K.
  • Independence Trust's ten largest holdings make up 44% of its $97.5M portfolio in Q3 2015.
  • Independence Trust opened 12 new positions and closed 32 in Q3 2015.
  • Independence Trust's portfolio value fell 34% quarter-over-quarter to $97.5M.

Based on Independence Trust's 13F filing for Q3 2015, filed 16 Oct 2015.