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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
GFY
101
DELISTED
Western Asset Variable Rate Strategic Fund, Inc
GFY
– –
-62,867
Closed -$976K
MSP
102
DELISTED
Madison Strategic Sector
MSP
– –
-15,149
Closed -$162K
DRA
103
DELISTED
Diversified Real Asset Income Fd
DRA
– –
-48,582
Closed -$781K
BHL
104
DELISTED
Blackrock Defined Opp Crt Tr
BHL
– –
-27,703
Closed -$358K
ACG
105
DELISTED
AllianceBernstein Income Fund Inc
ACG
– –
-105,228
Closed -$827K
1 2 3 4
5

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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 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.