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Ironsides Partners Portfolio holdings

AUM $27.7M
1-Year Est. Return 1.11%
This Fund
S&P 500
This Quarter Est. Return
+11.23%
1 Year Est. Return
-1.11%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$110M
AUM Growth
-$93.7M
Cap. Flow
-$83.1M
Cap. Flow %
-75.7%
Top 10 Hldgs %
89.23%
Holding
24
New
8
Increased
1
Reduced
6
Closed
6
Avg Time Held Equity + Options
0.6 quarters
Top 10 Avg Time Held Equity + Options
0.5 quarters
Top 20 Avg Time Held Equity + Options
0.6 quarters
Avg Time Held Equity only
0.6 quarters
Top 10 Avg Time Held Equity only
0.5 quarters
Top 20 Avg Time Held Equity only
0.6 quarters

Top Buys

Rank Stock Value
1
ARCC icon
Ares Capital
ARCC
+$26M
2
NMM icon
Navios Maritime Partners
NMM
+$5.74M
3
AGNC icon
AGNC Investment
AGNC
+$1.93M
4
BBDC icon
Barings BDC
BBDC
+$1.92M
5
TGP
Teekay LNG Partners L.P.
TGP
+$1.76M

Top Sells

Rank Stock Value
1
ACAS
American Capital Ltd
ACAS
+$60.2M
2
PNNT icon
Pennant Park Investment Corp
PNNT
+$8.04M
3
PFX icon
PhenixFIN
PFX
+$7.92M
4
EGLE icon
Eagle Bulk Shipping Inc.
EGLE
+$7.86M
5
NVG icon
Nuveen AMT-Free Municipal Credit Income Fund
NVG
+$7.66M

Sector Composition

Rank Sector Weight
1 Financials 64.99%
2 Real Estate 19.22%
3 Industrials 8.53%
4 Miscellaneous 7.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ARCC icon
1
Ares Capital
ARCC
$13.3B
$30.5M 27.76%
1,752,618
+1,502,568
+601% +$26M
2016 Q4
1 quarter
CYS
2
DELISTED
CYS Investments Inc.
CYS
$19.1M 17.41%
2,402,253
– –
2016 Q4
1 quarter
PFLT icon
3
PennantPark Floating Rate Capital
PFLT
$662M
$10.5M 9.53%
750,000
-267,420
-26% -$3.71M
2016 Q4
1 quarter
PNNT icon
4
Pennant Park Investment Corp
PNNT
$208M
$10.2M 9.27%
1,250,000
-997,197
-44% -$8.04M
2016 Q4
1 quarter
ACSF
5
DELISTED
American Capital Senior Floating, Ltd.
ACSF
$6.85M 6.24%
498,053
-95,000
-16% -$1.22M
2016 Q4
1 quarter
NMM icon
6
Navios Maritime Partners
NMM
$2.78B
$6.43M 5.86%
+207,190
New +$5.74M
2017 Q1
0 quarters
BCIC icon
7
BCP Investment Corp
BCIC
$86.7M
$5.61M 5.11%
137,756
– –
2016 Q4
1 quarter
BANX icon
8
ArrowMark Financial
BANX
$192M
$3.72M 3.39%
184,605
-1,063
-0.6% -$20.8K
2016 Q4
1 quarter
FCRD
9
DELISTED
First Eagle Alternative Capital BDC, Inc. Common Stock
FCRD
$2.13M 1.94%
213,612
-105,432
-33% -$1.08M
2016 Q4
1 quarter
NM.PRH
10
DELISTED
NAVIOS MARITIME HOLDNGS INC. 8.625% SER H
NM.PRH
$2.06M 1.88%
+131,000
New +$1.53M
2017 Q1
0 quarters
AGNC icon
11
AGNC Investment
AGNC
$10.3B
$1.99M 1.81%
+100,000
New +$1.93M
2017 Q1
0 quarters
BBDC icon
12
Barings BDC
BBDC
$893M
$1.91M 1.74%
+100,000
New +$1.92M
2017 Q1
0 quarters
TGP
13
DELISTED
Teekay LNG Partners L.P.
TGP
$1.75M 1.6%
+100,000
New +$1.76M
2017 Q1
0 quarters
NM.PRG
14
DELISTED
NAVIOS MARITIME HOLDINGS INC. American Depositary Shares, each representing 1/100th of a 8.75% Series G Cummulative Redeemable Perpetual Preferred Stock, $0.0001 par value
NM.PRG
$1.58M 1.44%
+100,000
New +$1.22M
2017 Q1
0 quarters
HMLP
15
DELISTED
HOEGH LNG PARTNERS LP
HMLP
$1.17M 1.06%
59,415
-275,585
-82% -$5.35M
2016 Q4
1 quarter
OEF icon
16
PUT
iShares S&P 100 ETF
OEF
$20.8B
$1.02M 0.93%
+18,000
New +$1.86M
2017 Q1
0 quarters
USO icon
17
PUT
United States Oil Fund
USO
$1.95B
$334K 0.3%
+1,250
New +$111K
2017 Q1
0 quarters
NVG icon
18
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.32B
– –
-529,887
Closed -$7.66M –
PFX icon
19
PhenixFIN
PFX
$86.8M
– –
-52,753
Closed -$7.92M –
PCI icon
20
DELISTED
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
– –
-1,072
Closed -$22K –
EMG
21
DELISTED
Emergent Capital, Inc.
EMG
– –
-582,273
Closed -$705K –
EGLE icon
22
DELISTED
Eagle Bulk Shipping Inc.
EGLE
– –
-178,571
Closed -$7.86M –
ACAS
23
DELISTED
American Capital Ltd
ACAS
– –
-3,360,700
Closed -$60.2M –

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Ironsides Partners's Q1 2017 Portfolio in Review

As of Q1 2017, Ironsides Partners held 24 positions worth $110M, down 46% from $203M the previous quarter. Its ten largest holdings account for 89% of the portfolio.

Ironsides Partners withdrew a net $83.1M in Q1 2017, closing 6 positions and reducing 6 holdings. Its most notable exit was American Capital Ltd, an estimated $60.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 65% of assets, up from 61% a quarter earlier, followed by Real Estate and Industrials.

Against the trend, Ironsides Partners opened a new position in Navios Maritime Partners worth $6.43M.

  • Ironsides Partners's largest Q1 2017 buy was Navios Maritime Partners: 207,190 shares worth $6.43M.
  • Ironsides Partners added most to Ares Capital in Q1 2017, an estimated $26M increase.
  • Ironsides Partners's biggest Q1 2017 reduction was Pennant Park Investment Corp, cutting an estimated $8.04M.
  • Ironsides Partners fully exited American Capital Ltd in Q1 2017, selling an estimated $60.2M.
  • Ironsides Partners's ten largest holdings make up 89% of its $110M portfolio in Q1 2017.
  • Ironsides Partners opened 8 new positions and closed 6 in Q1 2017.
  • Ironsides Partners's portfolio value fell 46% quarter-over-quarter to $110M.

Based on Ironsides Partners's 13F filing for Q1 2017, filed 15 May 2017.