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Karpas Strategies Portfolio holdings

AUM $319M
1-Year Est. Return 14.42%
This Fund
S&P 500
This Quarter Est. Return
-9.21%
1 Year Est. Return
+14.42%
3 Year Est. Return
+16.12%
5 Year Est. Return
+59.2%
10 Year Est. Return
+120.15%
AUM
$181M
AUM Growth
-$19.4M
Cap. Flow
+$829K
Cap. Flow %
0.46%
Top 10 Hldgs %
39.47%
Holding
122
New
3
Increased
12
Reduced
15
Closed
2

Top Buys

Rank Stock Value
1
T icon
AT&T
T
+$1.87M
2
HHH icon
Howard Hughes
HHH
+$1.29M
3
ENH
Endurance Specialty Holdings Ltd
ENH
+$897K
4
C icon
Citigroup
C
+$655K
5
JEF icon
Jefferies Financial Group
JEF
+$321K

Top Sells

Rank Stock Value
1
DTV
DIRECTV COM STK (DE)
DTV
+$2.73M
2
MRH
MONTPELIER RE HOLDINGS LTD
MRH
+$1.15M
3
LBTYK icon
Liberty Global Class C
LBTYK
+$389K
4
CMPR icon
Cimpress
CMPR
+$149K
5
MAR icon
Marriott International
MAR
+$96.9K

Sector Composition

Rank Sector Weight
1 Financials 24.46%
2 Energy 16.02%
3 Healthcare 15.49%
4 Communication Services 9.25%
5 Real Estate 8.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BEP icon
26
Brookfield Renewable
BEP
$9.97B
$2.04M 1.13%
139,612
– –
USG
27
DELISTED
Usg
USG
$2.02M 1.12%
76,075
+500
+0.7% +$14.7K
C icon
28
Citigroup
C
$222B
$2.01M 1.11%
40,484
+11,987
+42% +$655K
RYN icon
29
Rayonier
RYN
$6.55B
$1.95M 1.07%
97,160
– –
BMY icon
30
Bristol-Myers Squibb
BMY
$133B
$1.87M 1.03%
31,600
– –
CB icon
31
Chubb
CB
$135B
$1.8M 0.99%
17,415
– –
MWE
32
DELISTED
MARKWEST ENERGY PARTNERS, LP
MWE
$1.68M 0.93%
39,250
– –
CVS icon
33
CVS Health
CVS
$133B
$1.56M 0.86%
16,148
-100
-0.6% -$10.5K
CVX icon
34
Chevron
CVX
$392B
$1.56M 0.86%
19,751
-81
-0.4% -$6.82K
HON icon
35
Honeywell
HON
$77B
$1.42M 0.78%
16,693
– –
MSFT icon
36
Microsoft
MSFT
$3.45T
$1.3M 0.72%
29,435
+35
+0.1% +$1.57K
ANAT
37
DELISTED
American National Group, Inc. Common Stock
ANAT
$1.24M 0.68%
12,700
– –
AXP icon
38
American Express
AXP
$227B
$1.23M 0.68%
16,600
– –
COP icon
39
ConocoPhillips
COP
$147B
$1.21M 0.67%
25,137
– –
BNY
40
Bank of New York Mellon
BNY
$106B
$1.2M 0.66%
30,709
– –
HHH icon
41
Howard Hughes
HHH
$3.81B
$1.13M 0.62%
+10,333
New +$1.29M
HSBC icon
42
HSBC
HSBC
$365B
$1.03M 0.57%
30,529
– –
TNL icon
43
Travel + Leisure Co
TNL
$4.66B
$963K 0.53%
29,681
– –
KO icon
44
Coca-Cola
KO
$377B
$951K 0.53%
23,700
– –
PFF icon
45
iShares Preferred and Income Securities ETF
PFF
$13.3B
$951K 0.53%
24,625
– –
JPM icon
46
JPMorgan Chase
JPM
$935B
$931K 0.51%
15,262
+17
+0.1% +$1.11K
LBTYA icon
47
Liberty Global Class A
LBTYA
$3.62B
$907K 0.5%
24,194
-1,404
-5% -$61K
HY icon
48
Hyster-Yale Materials Handling
HY
$599M
$896K 0.49%
15,495
– –
MAR icon
49
Marriott International
MAR
$98.3B
$853K 0.47%
12,500
-1,340
-10% -$96.9K
ESGR
50
DELISTED
Enstar Group
ESGR
$846K 0.47%
5,640
– –
1
2
3 4 5

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CCMLC
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CU
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LWMG
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THWM
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VFPI
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Karpas Strategies's Q3 2015 Portfolio in Review

As of Q3 2015, Karpas Strategies held 122 positions worth $181M, down 9.7% from $201M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Trading was light in Q3 2015: portfolio turnover was 4.1%. Karpas Strategies opened 3 new positions and exited 2, leaving the 122-position portfolio largely intact.

By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 23% a quarter earlier, followed by Energy and Healthcare.

  • Karpas Strategies's largest Q3 2015 buy was Howard Hughes: 10,333 shares worth $1.13M.
  • Karpas Strategies added most to AT&T in Q3 2015, an estimated $1.87M increase.
  • Karpas Strategies's biggest Q3 2015 reduction was Liberty Global Class C, cutting an estimated $389K.
  • Karpas Strategies fully exited DIRECTV COM STK (DE) in Q3 2015, selling an estimated $2.73M.
  • Karpas Strategies's ten largest holdings make up 39% of its $181M portfolio in Q3 2015.
  • Karpas Strategies opened 3 new positions and closed 2 in Q3 2015.
  • Karpas Strategies's portfolio value fell 9.7% quarter-over-quarter to $181M.

Based on Karpas Strategies's 13F filing for Q3 2015, filed 3 Nov 2015.