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LM

Luminus Management Portfolio holdings

AUM $166M
1-Year Est. Return 75.95%
This Fund
S&P 500
This Quarter Est. Return
+5.24%
1 Year Est. Return
+75.95%
3 Year Est. Return
-13.12%
5 Year Est. Return
+27.92%
10 Year Est. Return
+125.71%
AUM
$2.9B
AUM Growth
-$209M
Cap. Flow
-$315M
Cap. Flow %
-10.87%
Top 10 Hldgs %
49.96%
Holding
186
New
43
Increased
48
Reduced
27
Closed
61

Top Buys

Rank Stock Value
1
DYN
Dynegy, Inc.
DYN
+$57.3M
2
CP icon
Canadian Pacific Kansas City
CP
+$52.4M
3
NEE icon
NextEra Energy
NEE
+$51.9M
4
FE icon
FirstEnergy
FE
+$45.4M
5
STLD icon
Steel Dynamics
STLD
+$45.2M

Top Sells

Rank Stock Value
1
EXC icon
Exelon
EXC
+$126M
2
PPL
PPL Corp
PPL
+$72.5M
3
AEE icon
Ameren
AEE
+$60.6M
4
EIX icon
Edison International
EIX
+$48.4M
5
CSX icon
CSX Corp
CSX
+$45.7M

Sector Composition

Rank Sector Weight
1 Utilities 45.99%
2 Materials 11.21%
3 Industrials 8.76%
4 Energy 4.34%
5 Technology 1.64%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$781B
$237M 8.17%
1,153,200
-695,400
-38% -$140M
SPY icon
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$781B
$202M 6.96%
982,500
+344,200
+54% +$69.2M
CPN
3
DELISTED
Calpine Corporation
CPN
$192M 6.6%
8,654,764
+1,206,110
+16% +$26.8M
FE icon
4
FirstEnergy
FE
$28.1B
$184M 6.35%
4,720,181
+1,237,287
+36% +$45.4M
PCG icon
5
PG&E
PCG
$38.4B
$117M 4.04%
2,198,687
+65,314
+3% +$3.24M
NEE icon
6
NextEra Energy
NEE
$184B
$115M 3.96%
4,324,928
+2,057,320
+91% +$51.9M
DYN
7
DELISTED
Dynegy, Inc.
DYN
$110M 3.79%
3,619,129
+1,857,704
+105% +$57.3M
EXC icon
8
Exelon
EXC
$47B
$99.9M 3.44%
3,776,423
-4,903,994
-56% -$126M
EXC icon
9
CALL
Exelon
EXC
$47B
$97.4M 3.36%
3,682,213
-75,287
-2% -$1.93M
SR icon
10
Spire
SR
$4.8B
$95.3M 3.29%
1,792,107
+321,183
+22% +$16.2M
D icon
11
Dominion Energy
D
$61.9B
$84.3M 2.91%
1,096,074
+131,830
+14% +$9.54M
DUK icon
12
Duke Energy
DUK
$98.1B
$71.2M 2.45%
851,907
+227,934
+37% +$18.4M
OGE icon
13
OGE Energy
OGE
$10B
$70.8M 2.44%
1,995,834
+453,560
+29% +$16.4M
ATO icon
14
Atmos Energy
ATO
$29.6B
$66.8M 2.3%
1,199,159
+371,623
+45% +$19.6M
CP icon
15
Canadian Pacific Kansas City
CP
$81.4B
$60.2M 2.07%
1,561,625
+1,324,000
+557% +$52.4M
PPL
16
PPL Corp
PPL
$26.7B
$48.3M 1.66%
1,426,278
-2,218,738
-61% -$72.5M
STLD icon
17
Steel Dynamics
STLD
$33.2B
$46.7M 1.61%
2,367,957
+2,097,457
+775% +$45.2M
R icon
18
Ryder
R
$10.4B
$46.4M 1.6%
499,361
+136,247
+38% +$12.2M
TERP
19
DELISTED
TerraForm Power, Inc
TERP
$42M 1.45%
1,359,489
+635,800
+88% +$18.1M
ASH icon
20
Ashland
ASH
$3.1B
$41M 1.41%
699,144
-176,305
-20% -$9.5M
PWR icon
21
Quanta Services
PWR
$94.9B
$32.4M 1.12%
1,142,096
+818,029
+252% +$25.7M
EE
22
DELISTED
El Paso Electric Company
EE
$30.5M 1.05%
762,334
+441,690
+138% +$16.7M
TECK icon
23
Teck Resources
TECK
$26.7B
$29.6M 1.02%
2,169,009
+225,837
+12% +$3.45M
SUNE
24
DELISTED
SUNEDISON, INC COM
SUNE
$29.2M 1.01%
1,496,027
+200,000
+15% +$3.8M
CF icon
25
CF Industries
CF
$19B
$26.9M 0.93%
494,165
+432,165
+697% +$22.8M
1
2 3 4 5

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TLM
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E3F
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SFCM
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MCM
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FOFP
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Luminus Management's Q4 2014 Portfolio in Review

As of Q4 2014, Luminus Management held 186 positions worth $2.9B, down 6.7% from $3.11B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Luminus Management withdrew a net $315M in Q4 2014, closing 61 positions and reducing 27 holdings. Its most notable exit was Ameren, an estimated $60.6M position sold in full.

By sector, the portfolio is most concentrated in Utilities at 46% of assets, up from 45% a quarter earlier, followed by Materials and Industrials.

Against the trend, Luminus Management opened a new position in MasTec worth $23.5M.

  • Luminus Management's largest Q4 2014 buy was MasTec: 1,037,878 shares worth $23.5M.
  • Luminus Management added most to Dynegy, Inc. in Q4 2014, an estimated $57.3M increase.
  • Luminus Management's biggest Q4 2014 reduction was Exelon, cutting an estimated $126M.
  • Luminus Management fully exited Ameren in Q4 2014, selling an estimated $60.6M.
  • Luminus Management's ten largest holdings make up 50% of its $2.9B portfolio in Q4 2014.
  • Luminus Management opened 43 new positions and closed 61 in Q4 2014.
  • Luminus Management's portfolio value fell 6.7% quarter-over-quarter to $2.9B.

Based on Luminus Management's 13F filing for Q4 2014, filed 17 Feb 2015.